Gold-good investment or hype.

jmckirdy

jmckirdy

Member
golds up to 1011$ an oz. wen i last checked bout a week ago, thats up from the 256$ per oz. it was in January. i donno if something that hot would be a good foundation fer the dallar or not. then again the u.s dallar used be be based on gold stocks before the feds privatly owned bank notes took over the dallar base.
 
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TheBlazehero

Active Member
i still like gold to $3,000 by 2012. i like silver $80-$100 by 2012. the dollar is manipulated. gold and silver will go through ups and downs, but that is because of speculators who take their profit and dump. india's central bank just bought 200 tons of gold. think that they think gold is overpriced? the relative strength or weakness of the dollar to gold is kind of misleading. there is only so much gold out there, dollars can be produced instantaneously. more dollars = they are worth less.

you have to understand, the wealth in this country is kind of illusory. the money supply is manipulated. interest rates are kept at artificial levels. banks create loans from money that they don't really have to loan against. this can only go on for so many years until the bubble is burst. the thing is, when the market corrects, instead of allowing it to happen, they try to prop the economy up and say everything is okay. the foundation is bad though and will crumble, by necessity and seemingly by plan.

i would not recommend being a gold or silver speculator. i would buy and hold as long term investment and insurance. it's been used as currency for like 2000 years. if (when) hyperinflation hits, you will be very happy. prices may fall as much as 30% on the way to the top. buy when you can, especially when it dips. yes, you are late to the party.....but the party is just about to get good. do not panic sell! that's like passing out at a party and getting a penis drawn on your face. another way is to invest in mining stocks. i'd seek advice as this is more risky, but will pay off handsomely. also, investments with nice dividends like pgh. if you take on debt, make sure that shit is fixed and is not prime + X. taxes will have to rise at some point, so will interest rates. i hope that doesn't happen at the same time.
 
CrackerJax

CrackerJax

New Member
TheBlazehero said:
i still like gold to $3,000 by 2012. i like silver $80-$100 by 2012. the dollar is manipulated. gold and silver will go through ups and downs, but that is because of speculators who take their profit and dump. india's central bank just bought 200 tons of gold. think that they think gold is overpriced? the relative strength or weakness of the dollar to gold is kind of misleading. there is only so much gold out there, dollars can be produced instantaneously. more dollars = they are worth less.

you have to understand, the wealth in this country is kind of illusory. the money supply is manipulated. interest rates are kept at artificial levels. banks create loans from money that they don't really have to loan against. this can only go on for so many years until the bubble is burst. the thing is, when the market corrects, instead of allowing it to happen, they try to prop the economy up and say everything is okay. the foundation is bad though and will crumble, by necessity and seemingly by plan.

i would not recommend being a gold or silver speculator. i would buy and hold as long term investment and insurance. it's been used as currency for like 2000 years. if (when) hyperinflation hits, you will be very happy. prices may fall as much as 30% on the way to the top. buy when you can, especially when it dips. yes, you are late to the party.....but the party is just about to get good. do not panic sell! that's like passing out at a party and getting a penis drawn on your face. another way is to invest in mining stocks. i'd seek advice as this is more risky, but will pay off handsomely. also, investments with nice dividends like pgh. if you take on debt, make sure that shit is fixed and is not prime + X. taxes will have to rise at some point, so will interest rates. i hope that doesn't happen at the same time.
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There's just one overriding flaw.

You can't buy things with gold, you can only convert it.

Again, if GOLD goes up to 2K ... where do you think the dollar will be? In the toilet.

Okay, now what? How do you spend the gold? You have to convert it. To what?

:wink:
 
Friendly

Friendly

Member
We used to hav 10 Gold bars in our safe when I was a kid and silver I always thought it was treasure lol~
 
Pipe Dream

Pipe Dream

Well-Known Member
i got a settlement from a car accident last year and i invested about 7000$ in when it was 800$ an ounce. My wife thought i was stupid but now she had to eat her words. Unfortunately, i had to sell most of it but I still have a bunch of silver and coin collections. I think gold is a good investment and I have had no problem selling it.
 
CrackerJax

CrackerJax

New Member
You did the right thing by selling it. Buy low, sell high. Don't get attached to ur investments....there is a time to let them go and get into the next thing going up. There's always something going up, the trick is to find it and find it earlier than most. :peace:
 
UNICRONLIVES

UNICRONLIVES

Well-Known Member
you cant go wrong with gold......jus make sure your investor / you do research before dumpin the ever mighty falling dollar into it
 
Big P

Big P

Well-Known Member
wont gold prices drop next november when we vote out the current people who are fucking us in the ass, leaving the choosen one without much power?


if you snapped your fingers and got rid of obama and his congress and put in a truly fiscally conservative congress and president


i bet the stock market would rise a lot and gold will fall far.


all we need is a leader who is a cheap bastard with our money


give me a pen and some power and Ill get rid of the trillions in debt:hump:


ill piss off a bunch of people in the process

who will all bow before me later once america is strong again.
 
UNICRONLIVES

UNICRONLIVES

Well-Known Member
i dont think gold is gunna lower jus because of the fucktards in the banking sector and now all of the world knows it !!!
 
BombaClat

BombaClat

Active Member
Big P said:
wont gold prices drop next november when we vote out the current people who are fucking us in the ass, leaving the choosen one without much power?


if you snapped your fingers and got rid of obama and his congress and put in a truly fiscally conservative congress and president


i bet the stock market would rise a lot and gold will fall far.


all we need is a leader who is a cheap bastard with our money


give me a pen and some power and Ill get rid of the trillions in debt:hump:


ill piss off a bunch of people in the process

who will all bow before me later once america is strong again.
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I sense a bit of humor in your post, but seriously. Despite your political views, you are...um...wrong. Looking at the historical charts, you will see that gold started its ascent early in the decade, with it really being rocketed in Bush's second term around mid '04. And most of the blame belongs to the war. Despite anyone's opinion (they don't matter in this example) the massive amount of money that it's taken to steady the course and the fact that we didn't have any of that money in our own bank account (we had to borrow it) is one of the things that has devalued our dollar to the point its at right now. Then take into account that India and China have acquired massive amounts of the metal over the past few years, and now you've got two BIG players affecting the pot.

The fact of the matter is, there are many many factors that have come into play in getting us in the mess we are in, thus pushing gold up. But very few, if any, of those reasons are because of Obama's actions as President in the last year. If you haven't noticed, his actions and motives have been more focused on damage control rather than destruction of our country. Now whether you agree with those actions and motives is another case entirely!
 
DubsFan

DubsFan

Well-Known Member
Haven't read the whole thread but over the last few years the rise of gold reminds me of every other bubble. Here in San Diego everyone wanted to buy Qualcom stock when it was at $750...nobody cared when it was at $50.

Same with gold. A balanced porfolio is the key to investing.
 
CrackerJax

CrackerJax

New Member
Speccing with gold is risky....it is only really a long term investment/hedge. Like it or not, you are tied to the dollar. You could convert into another currency, but would have to keep it offshore. Or follow it offshore yourself, but if you remain in the US... ur at the will of the dollar. It may default at some point, and I am now certain that losing the AAA credit rating is going to happen if the current policies are not reversed. That will send the dollar into a tailspin for sure. Gold will only look good as long as you don't have to convert it.... and that's always the problem with gold. It's not exactly liquid.
 
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NoDrama

Well-Known Member
Man I don't know who you guys deal with when it comes to gold, But mine can be converted into cash M-Sat 8AM-10PM. I get spot price plus I charge them a Premium of 5%. IE if gold is at $1000, they pay me $1050, they can easily turn around and resell it 10 minutes later for 1120. The only time you will pay spot price for Precious metals is when you play the Paper gold market (ETF). But you cannot demand physical delivery on Gold unless you have a sum total of 400+ ounces. I don't know anyone that has that much.

Even if you cannot convert gold to cash you can always barter with it, In fact pretty much the whole world bartered with it for over 5000 years.

Gold is not the #1 conductor of electricity, Silver is. Gold is #4 after Copper and annealed copper. Gold is very very stable and ordinarily will never tarnish, that's the only reason to use gold in electrical applications where corrosion may cause problems. It also is used in medical and dental implants, but only about 10% of gold is ever used for any application other than jewelry or Money For the vast majority of history gold has been a medium of exchange and a store of wealth.

Don't put all your eggs in one basket.
 
CrackerJax

CrackerJax

New Member
Converted into a failing currency... again, it's only a good sale if the dollar is RISING. You sell on the cusp to make a serious profit. Any other way, and your money is best served in another investment vehicle.

Back in the depression of Germany....bread cost thousands of marks. Now ppl had gold...but when converted...the money was still worthless. Gold is a long term investment....unless you have an inside track. 99% of the population is not on the inside track.

That is why most wealthy ppl never hold more than 10% gold. It's a place of LAST resort.
 
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NoDrama

Well-Known Member
CrackerJax said:
That is why most wealthy ppl never hold more than 10% gold. It's a place of LAST resort.
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Correct, Gold was not meant to be speculated on. Its a hedge against inflation/currency devaluation and was meant to be held for the long term. Silver on the other hand can be speculated on since its pricing is more volatile and the fact it is currently undervalued by a factor of 3-5. Of course if you had bought Gold back in 99 and held it until today, it would still be the best general investment you could have made.
 
Big P

Big P

Well-Known Member
look at this chart guys if you buy gold now you fittin to lose your shirt. shes going down, dont for get when everyone buys all at once they will all be selling all at once too

if you missed the bus you missed the bus


 
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