Wall Street Journal discusses y2k gold bugs on 1-21-99greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Some points of the WSJ gold bug article.
1. Harvard business school grad (non-survivalist type) increases gold and mining stocks to 20% of portfolio (from 5%). Says foreign countries not paying attention to y2k.
2. US Mint set record in 1998 selling 1.8 million oz. Eagle coins. No more one oz. silver coins for time-being because manufacturer ran out of blank coins to supply mint.
3. NY commodity analyst finds significance in rash of Silicon Valley gold purchasers. Likens it to when doctors decided to stop smoking.
4. Cites example of person switching 401(k) assets into short term treasuries and precious metals funds.
5. y2k gold purchases are uniquely American; not an international phenomenon. (Hey! we caused the problem, maybe we know how to solve it! WORK-AROUNDS! This parenthetical comment supplied by Puddintame. The publishers of Puddintame ask that you bear with his weak humor for a little while longer while we still have a chance to chuckle. . .unless you're a COBOL programmer and in that case get back to work immediately!) 3.
-- Puddintame (email@example.com), January 22, 1999
Well, at least people won't be able to say "who would've known?" when the roof caves in on the general population.
Electronic assets leave at the speed of light
--Jim the window washer
-- The Window Washer (Micaiah@2kgs.bbl), January 22, 1999.