The Joplin Globe, Joplin, MO

Opinion

September 13, 2012

Your View: House always wins

JOPLIN, Mo. — The problem is demand-side economics. Tax cuts are trickling up, and debt is trickling down instead of money.

There are ways you can help perk up a sluggish economy. You can purchase goods made in America and invest in the stock market.

You can help slow a sluggish economy down by converting your money into gold. Like a woman who lives off her looks, gold sits there looking pretty, but refusing to work. Don’t believe country musicians who tell you: “All gold in California is in a bank in Beverly Hills.” The gold is in Delaware for tax purposes.

If Delaware changed its laws, the cost of transactions in gold would be prohibitive. No one believes Delaware will change its laws.

Everyone believes gold will sit while you pay the rent.

There always will be people who will know the right time to cash in their chips and leave Las Vegas with more than they came with, and there will always be people who know the right time to cash in their gold before the price collapses. Win or lose, the house always gets its cut.

You pay more than the gold is worth when you buy it, and you receive less than it’s worth when you sell it.

At least you won’t have to fly to Delaware to visit your gold, because they won’t let you see it anyway.

My policy is to bring other people’s money home from Vegas, so they won’t have to fly there to visit it.

Steve Goebel

Joplin

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