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It's certainly lost a BIG CHUNK of it.
Despite all the bullsh*t hype from you goldbugs, there's NOTHING special about gold. It's a commodity like any other, it rises and falls. If you time it right you can make a lot of money, if not, you can lose a BUNDLE. There's NOTHING safe about investing in gold and for the most part gold hawkers are little more than con artists.
As I've said before (many times on this board) I saw this same sad story play out back in the late 70's - and it's ending the same way this time as it did then - with a blood bath for many gold investors.
Ken
Quote:
Originally Posted by Smoke_Jaguar4
Yes, it has. Your OP had it at $1769, today it's at $1298. That's a 26.6% drop in 9 months. Are you still buying?
I guess you can still wipe your ass with Washington's and Lincoln's
The same amount of gold today, buys the same amount of gas as it did in 1920. Buy the same house, too. I noticed Corn has really come down in dollar bills to buy 50# at the feed store.
It is the dollar bill that is gaining worth. Not Gold losing it's worth.
You think everyone in the world plays the US dollar bill scheme?
Again, I bet you think gold has lost its worth..... LOL
I guess you can still wipe your ass with Washington's and Lincoln's
The same amount of gold today, buys the same amount of gas as it did in 1920. But the same house, too. I noticed Corn has really come down in dollar bills to buy 50# at the feed store.
It is the dollar bill that is gaining worth. Not Gold losing it's worth.
You think everyone in the world plays the US dollar bill scheme?
Again, I bet you think gold has lost its worth..... LOL
You didn't answer my question:
are you still buying?
I guess you can still wipe your ass with Washington's and Lincoln's
The same amount of gold today, buys the same amount of gas as it did in 1920. But the same house, too. I noticed Corn has really come down in dollar bills to buy 50# at the feed store.
It is the dollar bill that is gaining worth. Not Gold losing it's worth.
You think everyone in the world plays the US dollar bill scheme?
Again, I bet you think gold has lost its worth..... LOL
More stoooooopid nonsense.
Heck the same amount of gold today doesn't even buy the same amount of gas it did 6 MONTHS AGO - or heck, EVEN ONE MONTH AGO.
Yes, it has. Your OP had it at $1769, today it's at $1298. That's a 26.6% drop in 9 months. Are you still buying?
OP is a textbook example of letting politics cloud your judgment on investment decisions. People don't like the government or Obama or whatever and project those political beliefs onto their expectation on the behavior of markets while ignoring economic fundamentals and history. Big mistake. Any nincompoop with a 5th grade education would have seen gold was in bubble territory when the OP started this thread. On the other hand, a PhD in econ would have made the same mistake as the OP had he looked at the markets through the lens of bias against Obama, Bernanke, the Fed, the government or whatever.
I guess you can still wipe your ass with Washington's and Lincoln's
The same amount of gold today, buys the same amount of gas as it did in 1920. Buy the same house, too. I noticed Corn has really come down in dollar bills to buy 50# at the feed store.
It is the dollar bill that is gaining worth. Not Gold losing it's worth.
You think everyone in the world plays the US dollar bill scheme?
Again, I bet you think gold has lost its worth..... LOL
A part of me actually pities people like you being taken for a ride by hucksters. I'll bet you think gold has "innate value," don't you?
OP is a textbook example of letting politics cloud your judgment on investment decisions. People don't like the government or Obama or whatever and project those political beliefs onto their expectation on the behavior of markets while ignoring economic fundamentals and history. Big mistake. Any nincompoop with a 5th grade education would have seen gold was in bubble territory when the OP started this thread.
Pretty stupid link. I guess no one should have bought stocks in 2008 and the stock market would still be falling. Gold has its uses as a hedge investment. Personally, I do not invest in gold myself but will not criticize those who keep a percentage of their investments in gold or other commodities.
There are many examples of hyperinflation in the last century, even the gold bugs investments are not totally without merit.
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