Gold is up $100 in the last 14 hours.
- Thread starter NoDrama
- Start date
Yeah they been saying gold is in a bubble for 10 years now, must be one hell of a bubble.
Encomium
Active Member
Yea true enough. We did have a "bubble" a year or two back as well that brought gold up above $1600 for a day and then dropped down. Shit it could have been at the $1400 mark.
To expand it will depend on our current financial "crisis" and what it will amount to. In times of economic crisis rare metals have always tend to be strong.
Encomium
Active Member
You realize there are people who actually do deal in physical metals right? Mint/Proof issue coins are struck in silver, gold, platinum and palladium around the world. Bullion comes in coin or bar form as well. Nothing like cold, heavy metal in your hand to make you feel like you've actually bought value. Still an illusion but perhaps a better one?
RawBudzski
Well-Known Member
Ehh its as much of a guessing game for us as it was ever. Shyt happens economic collapse or not, its in the plans and nothing Happens without the risks being predetermined by someone*. We will be talking on RIU 3 years from now..
MuyLocoNC
Well-Known Member
Beck was a liar and a thief for recommending gold and silver. Remember how he is just a shill for the precious metal peddlers? Remember how he was mocked as a lunatic for suggesting it would hit $2000 within a year or two? Remember how he regularly had Peter Schiff on and consistantly advised people to go heavy on gold? I remember Schiff being mocked on CNBC and MSNBC financial programs for years about his unrelenting stance on gold. If you didn't put every available cent in gold and silver, then you weren't listening to the right people.
I'm guessing that hasn't changed for most of you...still listening to the wrong people.
Me? I'm thinking about a new boat, thanks.
I'm guessing that hasn't changed for most of you...still listening to the wrong people.
Me? I'm thinking about a new boat, thanks.
Encomium
Active Member
In a good portfolio you'd have some easily liquid material assets wouldn't you? Gold has been relatively stable in relation to the dollar so it's always considered to be a safe haven to invest in. Just because someone's scamming people on the idea of Gold/Silver doesn't necessarily mean that it's a bad idea. If you'd have bought an ounce of gold in May of 2010 (date chosen from a random response to a Glenn Beck gold scandal) you're $1250 investment would have been worth $1710 (more in the Asian markets). Not too shabby for just over a year eh? Granted the current surge is more likely a bubble (imo) than permanent even if it drops it will likely only drop down to it's level prior to the media flood of debt ceiling and default talks which would still be @ $1600.
RawBudzski
Well-Known Member
thank god I grow it..
You mean you have bud which you can sell for dollars and then go and buy gold? Or do you literally mean you can grow gold?
Encomium
Active Member
I found this humorous.
RawBudzski
Well-Known Member
I grow gold.. alchemy of course.
MuyLocoNC
Well-Known Member
Yeah, I started buying it in early 2005 when Beck and Peter Schiff started hammering it home, I've almost tripled my money on quite a bit and continued buying it all the way up. About a year ago I started buying silver half dollars and dimes, I think the price of silver is going to increase by a higher factor than gold.
jeff f
New Member
so what is your endgame with gold? besides the obvious of holding it, dont you eventually have to sell it to get ROI?
as for beck, i used to listen to him on occasion but then stopped pretty much when he left fox.
say what you want about the guy, he has completely nailed the whole world situation. from the muslim spring, to gold, to this crap in london. if he says the world is gonna be struck by a giant lazer from snufalufagus.....i think i might go buy a big ass mirror.
MuyLocoNC
Well-Known Member
I hear ya Jeff. He is directly responsible for doubling my 401k and almost tripling my personal investments. I had to stop watching his tv show about a year ago and I occasionally listen to his radio show, I just can't stomach the religious content. It's flat out amazing how many of his warnings he's made over the last 5 years (and mocked for it) are now headlines in the NY Times. I did hear a replay of his exact prediction of the credit downgrade from a few years ago and how the progressives would try to spin it. It's scary how accurate he's been. The knuckleheads on here will parade the few you tube videos that they think discredit him, but they can't erase the plethora of warnings and predictions that have come to pass. I'd put him at about 20-1, accurate to inaccurate.
Plus, he regularly exposes Barney Frank as the utter douchebag he is, that alone makes his existence worthwhile.
Plus, he regularly exposes Barney Frank as the utter douchebag he is, that alone makes his existence worthwhile.
jeff f
New Member
barney frank competes with algore for worlds biggest douchebag. and that is saying something!
The end game? Gold is money, no need to sell it for US dollars. Might trade gold for land or other assets I need/want, but I see no need to trade gold for depreciating dollars. What if we go back to a gold standard and they revalue gold to something like $16,000 an ounce? The gold standard thing COULD happen, especially when you see who holds most of the bullion....central banks. Those banks are buying gold by the hundreds of tons at a time either as a hedge or they are sneaky bastards and have the world setup to be ruled over by them again.so what is your endgame with gold? besides the obvious of holding it, dont you eventually have to sell it to get ROI?
as for beck, i used to listen to him on occasion but then stopped pretty much when he left fox.
say what you want about the guy, he has completely nailed the whole world situation. from the muslim spring, to gold, to this crap in london. if he says the world is gonna be struck by a giant lazer from snufalufagus.....i think i might go buy a big ass mirror.
My silver on the other hand, its just going to sit here gaining value since it is sooooo short in supply. Did you know more refined gold exists than silver?