Gold Is Impossible To Value : NYU's Damodaran - Kitco News
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NYU Professor Aswath Damodaran speaks to Kitco News about gold, the U.S. dollar, the global economy and the Fed on this edition of "On the Spot." Damodaran says he expects the U.S. economy to grow at a "steady state" long-term because the global economy is shifting towards emerging markets. With regards to the Fed, Damodaran says that the only reason the Fed was able to maintain low interest rates is because the economy is weak rather than because of quantitative easing. "If the economy comes back, I'll wager that no matter who the Fed chair is, interest rates are coming back." Damodaran also says that the fears of inflation are now muted because the economy is weak. "I think the real test to whether we've created an inflation demon is when the economy comes back because that's when we'll find out whether [it] is coming because of all this quantitative easing." Damodaran also chimes in on the yellow metal and says that you cannot invest in gold but rather trade it. "The reason that I make that point is that gold is impossible to value." Watch now to see why Damodaran says he wouldn't hold gold, why he thinks this currency war might have no end and where he would invest $10,000. Kitco News, November 18, 2013. Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews --- Kitco News on Facebook: http://facebook.com/kitconews --- Kitco News on Google+: http://google.com/+kitco --- Kitco News on StockTwits: http://stocktwits.com/kitconews
Comments
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Well, apparently there is a correlation between the national debt and gold. I wouldn't write gold of just because it's difficult to value, you can look at other things that might influence the price.
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J.P. Morgan, "gold is money, everything else is either credit or speculation!"
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gold is cash... not an investment.
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FYI Kitco, don't ever bring a value investor on if you want to talk about "value" of gold. You're not gonna like what you hear.
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This is first time I have ever heard from this man, I had an extremely hard time trying to peg him, at first he sounds like a Keynesian, then he says that gold is for trading (assumption; gold is not money), ignoring the fact, that particularly, since the introduction of the Federal Reserve and the income tax, the dollar has lost 98% of its value, while at the same time, the amount of gold required to buy a good suit has remained virtually the same price, in terms of gold, as it is to the present day, whereas in terms of dollars, that same suit as gotten steadily more expensive. He finally closes will for self identification of being a value player and or contrarian with a assumed appreciation of supply and demand, which philosophically is inconsistent with Keynesianism, Socialism, Marxism, etc. which Keynesianism has no choice but to lead to! The man is all mixed up and confused, but that is to be expected from proponents of the ever-expanding state, collectivist and totalitarians lie, cheat, steal and will say anything to convince you of their credibility, once having their audience seduced and taken in by their lure, will quickly turn around, while in the process of eating you, all the time explaining, "you misunderstood my words or simply flat-out, deny they ever said anything like that, a simple little Marxist verbal sleight of hand, also known as a con job!
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To trade gold you need to buy gold..he's sooo brainwashed!
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Buy gold
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Gold hitting $1,000 within the next 2 years and you hope that pans out ?!? Are you out of your flippin' mind ?!?
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You heard the man! Always go against the tide...
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