I measure maturity or being "grown-up" in being able to critically think. Most adults never learn it. Simple example of critical thinking, how do you know for sure Soros is telling the truth. How can you verify? Has Soros proven himself to be Mother Theresa? And so he can be believed on cue. Gimme a break Just like Canadian billionaire from http://www.olearyfunds.com/ has admitted to his pal on one of the shows, his fund has 10% gold, but he personally has shitload more.
The chart (it does not matter if he tells the truth or not -- liar if contradicted by chart, the other case does not matter).
I strongly recommend you start reading bloomberg, US economy has nothing but bad news And you want me to hold Bonds China doesn't want. You want me to be heavily long US stocks waiting for "bank holiday" and crash of the dollar. No thanks, you have no idea how smart I am, I even considered that Fed might find a way to flash crash the gold futures I even considered that as possibility. And I realized that even if that happened, bounce would come because their every attack on gold has been a long term failure. I am going offline, I hate teaching for free for long periods
Soros probably reported his quarterly holding for his fund. He can't be lying. But the data was a few month stale of course. And I don't follow if there were new developments since then.
Gold is the only part of my portfolio I don't worry about. I can absolutely trust that my government will do whatever is necessary to keep the dollar value of gold high. Indeed, that's about the only thing I can trust my government to do.
So, Founder, we agree. You can trade gold, you can use it as a hedge against a falling dollar, you can use it to preserve wealth, And you can use it as a safe haven while the dollar and the U.S. economy sort themselves out. But you should not use it as a long term, buy and hold, investment. Surely there are commodities better suited to the latter purpose.