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I did the math and found that if I had purchased gold every month for the last 35 years with my 401K money instead of investing the money I would have been ahead by $250,000 dollars at retirement. And when I figure taxes into that I would been another $250,000 ahead.
If I had to do it all over again, that's what I would do.
Of coarse, all the financial experts would not get their cut and the government wouldn't get their tax dollars.
I'd love to see the math behind this and your reasoning for lower taxes
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
it still was not publicly traded as a commodity on any exchange here . so the first acceptable year for tracking as far as I'm concerned is 1975
I fixed this for you.
I bought a Double Eagle in 1974 with dish-washing wages. The value of that coin has tracked the price of gold since it was minted in 1921. The fact that you don't accept price-tracking of gold between 1933 and 1975 is just a personal bias.
Quote:
Originally Posted by HopHillers
A quote from Warren Buffett:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
I guess that would go for any form of money.
Someone sits down at a keyboard and types some numbers. All of a sudden, you can go out and exchange those numbers for something that someone else labors to create.
really . okay go find one historical tracking of gold that was publicly traded as such on line pre 1975. other wise considering your coins or jewelry is not considered main stream investing since it was not listed on a public exchange where anyone can buy it as gold bullion .
On the topic of gold, I actually bought some ABX today at $6.40. I see 3 scenarios playing out with this one. 1)Takeover bid/buyout at these prices, 2) It will be worth $10+ within 12-18 months, or 3) bankruptcy. I see 3 as unlikely given ABX's assets and positioning in the market so I am willing to take the chances at this price. Should be interesting.
The miners are a bet that the price of gold will not dive below $1,000.
They have managed to trim their production to the rock that produces profits at these levels ( barely). If, say, ABX is making $100/oz then a $100 rise from here doubles profits. It's where they were in 2000. Gold doesn't have to do much for a miner's stock to really do well. OTOH, gold could go below $1,000 for an extended time.
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