Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Only if you have the Kruggerrands delivered to your door, and you then put it in a safe deposit box at a solvent bank. It's essentially insurance in case of the total economic collapse of society. Even then, you sew it into the lining of your jacket and head off to a relatively stable part of the world.
buy undervalued real estate. that will protect you. and make you a fortune when RE rebounds
The question is WHEN will it rebound. I don't see any goods signs right now. Fewer people are buying things. The people at the bottom can't afford anything. The people on the top will buy something more expensive. The people in the middle are buying less. It is mainly the people in the middle that alot of sales have depended on. And so far, sales seem very low right now.
The question is WHEN will it rebound. I don't see any goods signs right now. Fewer people are buying things. The people at the bottom can't afford anything. The people on the top will buy something more expensive. The people in the middle are buying less. It is mainly the people in the middle that alot of sales have depended on. And so far, sales seem very low right now.
It will come back ... the question is when and by how much.
I expect the government to allow inflation to rise - probably to 5% - 7% - sometime around 2010. The reason for this is to "dilute" the amount of debt that is out there so avoiding having to use tax raises or mass bankruptcies to get rid of it. When that happens, Real Estate will be a safe haven for cash that you do not want to see depreciate through inflation.
My guess is that a good time to by will be around the end of 2009.
IN april of 2008, gold hit about 940. On the 4th it was around 910.
Every expert said gold 1500 or 2000 before the years end. Including Schiff.
Today, feb 11 2009 it is 939 as of this post. Almost one year later it is barely even. Minus your costs to buy and sell, it is still a losing bet so far.
Here is what I said about gold on April 4th 2008 and I still think it is relevant. There may be a short spike, but that will signal the complete bust.
Quote:
- Gold, silver, and Oil will bankrupt many as it drops to the floor, bringing dumb investors to their knees. Oh yea, oil is gonna go to two hundred you say. Hey, it is your money, go ahead and gamble it like a moron. It will start dropping back down on its way to 34 bucks a barrel by year's end (it will eventually get to 34, not at years end, but heading towards it on its way down.) As for gold and silver, if you buy it now you are really stupid.
Gold and silver. These things are not stocks. They do not get high and split. They go up when inflation is here. They go up, way up. Commercials will tell you to buy gold. Then it is over and they drop down to the normal 100 or 200 for gold and 3 to 7 dollars for silver. It is your money, p#ss it away if you wish, but my advice is to stay away from gold or silver.
Oil did drop to 33.80 on dec 19th for the january contracts and has bounced around from 32 to 49 since. With a heavy emphasis on around 40.
If you bought gold in april of 2008 you are still underwater.
Gold is now higher than it has ever been over the past few years. It is obvious the economy was a boom and now heading to bust. If I was a large concern and had a ton of gold I bought for 275 a few years back, I would love to manipulate the gold run for a quick boom/bust and sell at 1200... or even now at 939.
No, gold will drop. Short term gamblers can make money, long term should sell and wait for gold to bottom and then buy it for a sale 20 years from now.
Just my advice. So far, I have been pretty right on things. Please, if you are a regular joe/jane and looking for a long term investment do not buy now. Seasoned risk takers obviously are short term and know what they are doing. Most of us do not.
Stay away, far away. Cash in safe and bank. Split it between the two until this is over. Buying gold now is like buying a home in 2004 or later and expecting it to gain in value and sell for profit in 2009.
buy undervalued real estate. that will protect you. and make you a fortune when RE rebounds
When, in 5 years or 10? A Japan style drawn out deflation is very possible. I think it's safe to say the gains we've seen in the last 5 years were a once in a lifetime event.
Anyone have any good sites/sources for buying silver? We live in a rural area in Alaska with no roads in or out, so we have to buy online.
This is one of my clients. He is the most honest coin/jewelry dealer I have ever known. I'm not sure if he sells out of state (I take care of his computers), but you might contact him and ask.
One of the reasons I mention his honesty is because of what I hear while working there. Clients are constantly mentioning that he either sells for less, or buys for more than the competitors. I also bought some fractional notes from him, checked the values on the web, and discovered I made a profit before I walked out the door!
Iowa coin dealer and buyer of rare currency - Christopher's (http://www.christophersjewelry.com/aboutcoins.htm - broken link)
Becareful taking possession of gold... Depending on sales tax agreements you could end up paying sales tax on it...
Many years ago i made the mistake of taking possesion of the gold eagles i bought from fidelity investments and because they had a new york office i got charged sales tax
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
