Posts Tagged ‘endowment principle’

Why gold, and does it need any marketing?

June 1, 2010

By Igor

“Mr. Gold doesn’t give more time … or second chances”

Ms. Lilly Walker (Revolver (2005), Guy Ritchie)

We are what we eat, and we eat pork bellies, live cattle, corn, coffee and sugar. We do not eat gold, and do not even burn it, like we do gas, oil or timber. And yet, we prefer a few pounds of gold to a few pounds of pork or sugar. Furthermore, this paradox does not seem too paradoxical to any of us, doesn’t it? Of all the mysteries surrounding gold, the most intriguing to me was always its special place. And after I learned a little bit of marketing, I also realized that gold’s marketing is far from obvious to me. For a while I was puzzled with my inability to utilize eating principle, and turned to history books written on the subject. Below is a resume, or as one of my compatriots, Mikhail Prokhorov, recently put it – rez-yoom.

Those of us, who believe that Richard Nixon had murdered American Dream in early 70s, might as well be right. For a fact, we know that he did demonetized gold right around that time. Read the rest of this entry »

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