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.
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").
a good mens suit?
then gold is a bit low. i spent $2600 2 months ago on my suit.
Not THAT good of a suit, Monkey. More like something from the Burlington Coat Factory.
well, i am not going to buy my suit at goodwill. I like to have my suits tailored and fitted for me. I got mine at a good price, as suits tend to last me 5-7 years.
Since the election is tied & the fiscal cliff looms uncertainty is driving people from liquid investments into cash thus making the dollar stronger by default even in the face of QE3. This is driving gold down & will continue until after the election. Once people know where to invest & how much debt we are going to pile on to prevent deflation & get the economy humming, Gold will start climbing again (likely January). The stock market has sold off every since the election tightened which strengthened the dollar thus impacting gold. Short for now & buy gold on election day regardless of who wins. The election will mostly decide what group gets the money & less about how much debt will be created to cover the piles of money being divided up.
I bought 100ozt of gold on election day 2008 for about $720/ozt. I was up 100% in no time. I plan to do it again this time.
Since the election is tied & the fiscal cliff looms uncertainty is driving people from liquid investments into cash thus making the dollar stronger by default even in the face of QE3. This is driving gold down & will continue until after the election. Once people know where to invest & how much debt we are going to pile on to prevent deflation & get the economy humming, Gold will start climbing again (likely January). The stock market has sold off every since the election tightened which strengthened the dollar thus impacting gold. Short for now & buy gold on election day regardless of who wins. The election will mostly decide what group gets the money & less about how much debt will be created to cover the piles of money being divided up.
I bought 100ozt of gold on election day 2008 for about $720/ozt. I was up 100% in no time. I plan to do it again this time.
Gold is still way above that 100% mark. I sold half the physical at $1,825. I will never sell the rest. I only short the GLD when I think gold is going down in order to cover any loss on my physical gold.
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").
Thats a bold prediction, care to explain when you think this will happen? I would wager anything to say your not going to see gold get cut in half anytime soon. If anything is in a bubble it's the dollar, were on QE3 already the Fed cant just keep printing dollars and expect it to hold its value. If a gold bubble burst my guess is it won't be for a long time maybe 10 years from now. Only time will tell, and I'm glad this thread is here so we can always revist it and say " I told you so."
Location: where you sip the tea of the breasts of the spinsters of Utica
8,297 posts, read 14,168,495 times
Reputation: 8105
It will happen within 5 years, Lost Leaf.
I dunno. Gold seems overpriced compared to what it's been historically, in terms of what a given amount will buy in tangible goods. I have no idea of when exactly it will come down. It might go up considerably before it comes back down!
Suit! I don't need no stinkin suits....... I got one tie and it is Mackay never wear that thing either..... I just hope when i die no one puts me in a suit!
leathers maybe but no suit..... now if whom ever loves me that leather will be real brain tanned deer!
Now that's a suit and it would cost some hard too.....
"""""""""""""""""""""""""""""""""""""""""""""""""" """""""""""""""""""""""""""""""""""""""""""""""""" """""""""""""""""""""""""""""""""""""""""
KrazeeKrewe, I hope you see it this time....... I asked before on this thread and you missed it (I guess) Have you thought about making your own diesel fuels? I think you could if you haven't and it would just be another gold for you...
(I am kinda impressed with your tech)
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.
I don't need no stinkin suits....... I got one tie and it is Mackay 
never wear that thing either..... I just hope when i die no one puts me in a suit! 
