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Romney has done this to all his companies & as governor of the state of Massachusetts. He will follow the Reagan/Japan/Bush-Cheney debt leverage plan. Romney's plan is grow the debt to grow the economy. Just read how every time he bought a company, he used their credit to barrow huge amounts of money to pay his commission & restructuring. If the company failed it was on them & their pension fund & not him because he got paid up front using their credit. It is just like a Gordon Gekko/KKR leveraged buy out (LBO). We will be leveraged in an attempt to grow the economy & create jobs.
I don't for a moment accept your premise as there is no parallel.
Assuming, for a moment that you are correct, how is that different from what Obama has done, and is going to do?
At least we know that Romney can balance a budget (has done so many times), can obtain bi-partisan cooperation to accomplish goals, and knows how to restructure to make an opearation self-sustaining and even profitable.
If you think you're going to be sitting pretty on lots of gold, consider the possibility that someone like Obama could easily, by Executive Order, due to some crisis (manufactured or otherwise) declare it illegal to possess or own gold. What would you do then? You'd have to pile it all into the back of your truck and haul it to the bank to turn it in.
No there would be the biggest black market in history! It would be UNPRECEDENTED
Too many guys out there like KrazeeKrewe is... he isn't going to give a rats bass about a paper law. I don't know this gent a bit from here or any other place but I know guys a lot like him and they have no fear of Obama, and they might even have voted for him.
Some people just don't live like other people. The type to grow their own and make there own just don't need Obama's.
I have never been able to afford gold, so i buy guns and worked in silver. I don't need the system to eat anymore than KrazeeKrewe does.
He is far ahead of my meager things, but I won't need gold to trade for his food either...
That gold he has sure isn't going to hurt him.
Gold will never again be what it was in the 60's 70's 90's or less than it is now since there isn't enough and the players are too big.
Silver may well hit $250.00 this year or next.... Yesterday is was $31.85 and i didn't check it today. That is a far cry from mid 90's when it was 5 or 6 bucks a ounce.
I don't for a moment accept your premise as there is no parallel.
Assuming, for a moment that you are correct, how is that different from what Obama has done, and is going to do?
At least we know that Romney can balance a budget (has done so many times), can obtain bi-partisan cooperation to accomplish goals, and knows how to restructure to make an opearation self-sustaining and even profitable.
Thats wrong too. Romney has bankrupted more companies then He saved. He IS the worst kind of " investor"
Scott Adams is right: why would you take investment advice from anyone whose best idea is to put all their money into shiny rocks?
That's exactly why these "gold will only go up" people are so pathetic to me. Any investor realizes that gold is just like any other bubble and when it bursts, it wont be the 1st time.
Quote:
Originally Posted by southward bound
If you think you're going to be sitting pretty on lots of gold, consider the possibility that someone like Obama could easily, by Executive Order, due to some crisis (manufactured or otherwise) declare it illegal to possess or own gold. What would you do then? You'd have to pile it all into the back of your truck and haul it to the bank to turn it in.
I find that highly unlikely, but the point of your post has merit. Gold's value is merely based on the fact that it was once valuable as money even though it has no value as currency now. I can't go to Ikea and buy a new bedroom set with a gold bar, even if the gold is worth 10x as much as the bedroom set.
Quote:
Originally Posted by mohawkx
H.L. Hunt tried to corner the market on silver back in the early 80s. It shot up to 55.00. Soon there was more silver on the market than lead and silver dropped to 6.20 almost overnight.
Gold did the same thing in the early 80s. It was a major commodities crash. Gold dropped to less than half its peak.
Quote:
Originally Posted by darstar
Do you think the value of the dollar doesn't change daily ? If you read some of my earlier posts I explain how gold is MONEY. You seem to Ignore history.
If I'm the one who ignores history, how come I'm the only one who used historical data to prove that this bubble will burst exactly like it did ~30 years ago?
Gold is NOT money. Where exactly is gold money?
The Lira was money in Italy when I lived there in 1996...that doesn't make it useful today as currency.
Gold used to be money, but it has long since been replaced.
Other than selling to gold buyers and exchanging for dollars, how can you use gold as money today? Oh yeah, you can't. And if the global financial system collapses, gold will NOT be the commodity that people exchange, but rather oil and gasoline and potable water. You can't warm a home using gold, you can't power a vehicle, you can't eat it, drink it, use it for anything. It serves no purpose. It's not even magnetic.
Plus, any time uneducated rednecks start saying "the price keeps going up and will continue forever" I know that it's time to start shorting whatever it is they are talking about.
So is farm land, have you looked at any of the prices of late ? Whats most remarkable is buyers are paying cash. What better way to get rid of paper for real worth.
Yeah good growing land is sky high now..... KrazeeKrewe evidently has 1,000 working acres. If he can defend it from the carpet baggers who will be swarming after shtf he might even keep it.
Bill Clinton created all of this bubble...... Lowering taxes re-evaluation into orbit. The bottom fell out and bills off scott free..... That must feel nice.
Probably better than 1/2 the posters here weren't 10 years old in 1998.....
None of them ever held a dollar in their lives. In order to have done that you would have had to be born in about 1951, in order to remember it, since the last paper Silver Certificates were printed in 1957. I was 6.
I still have a few of those old broken promises too.
The next note was a 'United States Note' printed by the US treasury. It was worth what anyone said it was worth and the Feds got nervous.
That brings us to now and the note we have now that Federal Reserve Note that IS NOT even printed by the Gov.... I guess being nervous just might show soon......
Because when the 'We the People' discover the deception, maybe a few heads will roll. Or maybe by that time the average fool will be too hungry to care anymore.
That's exactly why these "gold will only go up" people are so pathetic to me. Any investor realizes that gold is just like any other bubble and when it bursts, it wont be the 1st time.
I find that highly unlikely, but the point of your post has merit. Gold's value is merely based on the fact that it was once valuable as money even though it has no value as currency now. I can't go to Ikea and buy a new bedroom set with a gold bar, even if the gold is worth 10x as much as the bedroom set.
Gold did the same thing in the early 80s. It was a major commodities crash. Gold dropped to less than half its peak.
If I'm the one who ignores history, how come I'm the only one who used historical data to prove that this bubble will burst exactly like it did ~30 years ago?
Gold is NOT money. Where exactly is gold money?
The Lira was money in Italy when I lived there in 1996...that doesn't make it useful today as currency.
Gold used to be money, but it has long since been replaced.
Other than selling to gold buyers and exchanging for dollars, how can you use gold as money today? Oh yeah, you can't. And if the global financial system collapses, gold will NOT be the commodity that people exchange, but rather oil and gasoline and potable water. You can't warm a home using gold, you can't power a vehicle, you can't eat it, drink it, use it for anything. It serves no purpose. It's not even magnetic.
Plus, any time uneducated rednecks start saying "the price keeps going up and will continue forever" I know that it's time to start shorting whatever it is they are talking about.
I am not going to get into the discussion about what gold will do. It is a commodity and the price of most commodities is at an all time high. Rise or drop, I do not know no one does. I do think the top has not been reached, that said, we could have many downs before it does become the most valuable commodity in the world. It is money, and, I know of several who have bought a car with gold, land too.The underground market is way bigger than anyone who is not there knows.You can eat gold, just shave off some bar, or hand over an Eagle and the groceries will start flowing big time. I have done that several times. One thing you can not eat is guns.
Yeah good growing land is sky high now..... KrazeeKrewe evidently has 1,000 working acres. If he can defend it from the carpet baggers who will be swarming after shtf he might even keep it.
Bill Clinton created all of this bubble...... Lowering taxes re-evaluation into orbit. The bottom fell out and bills off scott free..... That must feel nice.
Probably better than 1/2 the posters here weren't 10 years old in 1998.....
None of them ever held a dollar in their lives. In order to have done that you would have had to be born in about 1951, in order to remember it, since the last paper Silver Certificates were printed in 1957. I was 6.
I still have a few of those old broken promises too.
The next note was a 'United States Note' printed by the US treasury. It was worth what anyone said it was worth and the Feds got nervous.
That brings us to now and the note we have now that Federal Reserve Note that IS NOT even printed by the Gov.... I guess being nervous just might show soon......
Because when the 'We the People' discover the deception, maybe a few heads will roll. Or maybe by that time the average fool will be too hungry to care anymore.
Hard tellin' not knowin'
Actually I made the most money in 1992-2000, a lot was part of trade deals. Expensive Things had value back then. On second thought I did a lot of buying in 1975-6, with inflation at 18 per cent, what you bought today would be worth more tomorrow. A used Mercedes was bringing more than a new one, as the Company upped their prices. The only time in history that I recall was talking to a Mercedes dealer who said, the higher price we offer the cars the more we sell !
Actually I made the most money in 1992-2000, a lot was part of trade deals. Expensive Things had value back then. On second thought I did a lot of buying in 1975-6, with inflation at 18 per cent, what you bought today would be worth more tomorrow. A used Mercedes was bringing more than a new one, as the Company upped their prices. The only time in history that I recall was talking to a Mercedes dealer who said, the higher price we offer the cars the more we sell !
I worked in something as a hobby business making Trade Silver in the 90's for about a decade. This is circa's 1761 to 1840 trade Silver a wearable trade item like money used in the American Fur Trade. (My life style now and of some 30 years back i guess)
Something I noticed was if my prices were too low, and i could beat K Mart for sterling loops any day of the week then, people would not buy.
I found is I added to the price a somewhat reasonable cost people were more attracted. I called this 'Sting', still do if i work any silver. It is a profit over and above the real costs of material and time plus a meager profit i worked by. And for some people Sting made all the difference between a buy and no sale at all.
Later selling to museums for their gist stores I became upset at seeing my items marked up to around 600% and saw that as my ruination! if other re-enactors saw the store prices i thought i would be tarred and feather and run out of camp on a rail!
To my total amazement that store stuff all sold and the museum wanted more, but I refused to sell them anymore.
These days with silver where it is I no longer make these museum quaility pieces due to the price and my investment. I think that market I had is gone.
If you wish to see just go here. Pg1 is mostly sterling, pg 2 is mostly coin. I got better money for coil because it was more labor. silverwork pictures by Mac_Muz - Photobucket
Interesting stuff. I don't recall hearing about what you do, I think . As I recall silver was very popular in the 70-80s. I bought a lot myself, which is now somewhere , as several girlfriends were on the receiving end, mostly rings. Lots of cast pcs. Bringing big bucks. We were into SW art. Wife still has a lot of Ray Tracy . There was also a lot of "pawn" pcs around, some very old. We liked the modern stuff. I wear for good luck a cast bear, done for me by Ben Lighthorse Campbell. I never take it off. Yes, the higher the the price the more interest I had. We made many trips to SantaFe back then.
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Location: where you sip the tea of the breasts of the spinsters of Utica
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I've heard that there's an old rule of thumb concerning the value of gold ---- going back for hundreds of years, an ounce of gold should be about the cost of a good men's complete suit.
We're above that now, though I don't know exactly how much a decent suit would cost. I'd say the bubble will burst to a bit over half its current value.
Buy low, sell high. The natural inclination is to go with the herd, after all we're social animals and we all want to hit the jackpot with our buddies. You see it with stocks too, there's a run up and everyone starts talking about how it will never come down, or else there's a big slump and you see all sorts of articles about how the economy is about to crash and civilization will end, so you'd better sell off and take your losses or it will all vanish. By resisting such inclinations, it seems like quite a few of the people on this thread have made good profits. (sorry to state the obvious, but we do need reminding that investing requires cold hard logic more than "intuition").
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re-evaluation into orbit. The bottom fell out and bills off scott free..... That must feel nice.