The soaring price of gold is causing mining companies in South Africa to sink to astonishing depths. Gold Fields plans to drill to 2.5 miles (13,200 feet) at a mine outside Johannesburg, and that would be a record, reports National Geographic News. Other companies are not far below (or, above) that mark. But the deepest mine in the United States reaches just 8,000 feet.

Gold is never a good investment. You need to do all your investing based on the long term,five, 10 and twenty year track records. Gold, any way you analyze it, has a horrible twenty year track record. It is a high risk investment and it is a risk you should not take with your money

One dollar invested in bonds in 1801 would yield $13,975 today.
One dollar invested in stocks in 1801 would be worth $8.8 million today.
One dollar invested in gold in 1801 would be worth $14 today.

Labels: Gold, Greed, investing

Click here to read the whole post & comments.