Tweet of the Day: More Goldbuggery


Nouriel Roubini on the prospects for gold:

Spam is a better hedge against inflation than gold: you can eat it and it lasts 1000 years. Gold is, as Keynes aptly said, a barbarous relic

I don’t know for sure about 1000 years, but I can attest to 15 at least. True story: in 1995 I was best man at a friend’s wedding and gave him a can of Spam as a gift. (Don’t ask.) Anyway, the idea was to eat it on his 25th anniversary, but he ended up getting divorced this year, a decade before S-Day. So on the day the divorce was finalized he broke open the Spam and some cocktail toothpicks, cooked it up for a bunch of friends, and dug in. His verdict: not only was it edible, it was better than fresh Spam. The aging had actually improved the flavor. This suggests a possible market opportunity to me. Perhaps someday 60-year old Spam will sell for the same price as a bottle of Johnnie Walker Blue?

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