According to a report yesterday on CNNMoney.com, "geopolitical concerns have eroded confidence in paper money, leading investors to pile into commodities -- which, in turn, have reached multi-year and all-time highs. ... The appeal of stocks has been somewhat tarnished by the volatile global situation [translation: the ongoing financial collapse]. ... Meanwhile, the physicality of commodities have boosted their appeal -- and made prices soar." Says Phil Flynn, senior market analyst for PFG Best, "We're almost going back to a barter system, where commodities have more value than paper ..."
Imagine -- people actually valuing commodities (mere stuff) over paper (to say nothing of electrons which of course represent real wealth)! We might as well go back to swapping pigs and chickens for our clothing and supplies! Thank goodness we have senior market analysts to point out such absurdities!
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