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.
Wierd how when gold was stagnant and falling how I didn't see many of these theads.
Remember that Gold ( all PMs) were around 500.00 to 800.00 for a very long time. Silver is the choice of most people because of the cost in dollars to buy in, but it did not follow golds lead as in the past....Same with Oil. The problem is . no inflation thats why the commodities, including land, are good buys ,have been for over a year.. Futures are better, I was a day trader, lost my shirt ! Moral to the story, don't put all your eggs in one basket. Had I known PMs would double, triple over night I would have stayed in .as a buyer The swings are what got me, I just did not pay as much attention as I should. I sold all my physical at 1000.00....how dumb !
Gold bullion is real, honest money...and, many say, the best form of money the world has ever known. It is a store of value and a safe haven in times of crisis. Gold is rare, durable and does not wear out in the manner of lesser metals (or paper!) when passed from hand to hand. A small amount, easily carried, can purchase a significant amount of goods and services. It is universally accepted, and can be easily bought and sold around the world.
Today, the beauty of a gold bar lies in its ability to diversify investments, protect wealth and preserve one's purchasing power.
Closed @ $1769 today.
Will open tomorrow much higher.
Using inflation to buy the debt they created, only hurts the poor and middle classes.
They have been doing it for decades. Just this time, there is no productivity to fall back on. It has all left and gone to China & Indonesia.
Gold is just like any other bubble. Except I can't live in my bar of gold, nor can I use it for anything at all. It's not currency and the value of it is based on an arbitrary value which fluctuates daily.
Look at the prices and tell me that it's not an insane bubble:
1960: $35.27
1965: $35.12
1970: $36.02
1975: $160.86
1980: $615.00
1985: $317.00
1990: $383.51
1995: $383.79
2000: $279.11
2005: $444.74
2010: $1,224.53
2011: $1,571.52
The day in September you made this thread: $1,769 (or basically the same value as adjusted for inflation the last time the gold bubble began to burst)
Today: $1,706.80...a 3.52% drop since you made this thread.
Notice how when it ramped up during the Carter years that it suddenly crashed and didn't recover its value for 26 years?
If anything looks like a bubble right now, it's the price of Gold. When it crashes, and it will crash hard and you people who are exactly the same as the idiots who were getting houses with 3% down saying "it'll be worth 2x as much next year" will realize how dumb it was to jump into a bubble.
That's why I'm loading up on DZZ (doubleshort gold ETF) and will be laughing all the way to the bank just like I did when everyone said that Real Estate was going up and could only go up.
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.
The smallest unit of coinage for gold is the 1/10th oz. Walking liberty. Spot value is 170.00 each. Try buying a bag of groceries and getting change for that 1/10th oz. You obviously won't take cash. If you accepted cash for change then you wouldn't be using gold coins in the first place.
When I was in law school back in the late 70's there was a big silver bubble and i knew people who were saying that silver will always have intrinsic value because it is indispensable in photography--something to do with black & white printing, I think.
How indispensable to photographic printing is silver now?
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.
When I was in law school back in the late 70's there was a big silver bubble and i knew people who were saying that silver will always have intrinsic value because it is indispensable in photography--something to do with black & white printing, I think.
How indispensable to photographic printing is silver now?
And what's the price of silver now, compared to when you were in school back in the late 70's.
It's around $32, a 5-year high. Back in the mid 70's it was around $5/oz. Even at $32, it's still affordable for those who can't afford gold.
Though I don't know why you'd buy it unless you hope to sell it when it climbs to twice the price.
When I was in law school back in the late 70's there was a big silver bubble and i knew people who were saying that silver will always have intrinsic value because it is indispensable in photography--something to do with black & white printing, I think.
How indispensable to photographic printing is silver now?
Silver as an alloy metal has many uses. So does gold, but gold's ductility works against it's better qualities, especially it's good electrical conductance, so silver is often used in it's place. But you're right about the main market; black and white photography was the largest user of silver by far, and while I don't think traditional photography is going to disappear, the demand for silver won't be as high as it was in the forseeable future.
The main use for gold these days is for ornamental gold stamping. Gold can be drawn thinner than any other metal; the gold leafing used on signs is only 1/10th the thickness of a piece of copier paper, and the foil used for stamping coffee cups is 1/10th the thickness of 18k leaf. It doesn't require very much gold to produce yards of foil that thin.
That's why gold has seldom been used for coinage. It's never been 'money', except in large denomination coinage; it was, however, the basis used for money until the world abandoned the gold standard.
After the gold collapse in the 70's, a guy I knew who had succumbed to gold buggery offered me a deal on a 10 oz. bar of bullion that was only $100 an ounce. He needed cash because he was moving, and I almost took him up on it. I was using a lot of gold leaf at the time, but I didn't want to buy all the extruding equipment to turn that bar into leaf, so I passed. I ended up buying out another guy's big stash of gold leaf he had been hanging onto throughout the boom, thinking it would be worth a lot. When he realized it wasn't, he sold it to me for his pre-boom cost. I still have some left.
Gold is just like any other bubble. Except I can't live in my bar of gold, nor can I use it for anything at all. It's not currency and the value of it is based on an arbitrary value which fluctuates daily.
Look at the prices and tell me that it's not an insane bubble:
1960: $35.27
1965: $35.12
1970: $36.02
1975: $160.86
1980: $615.00
1985: $317.00
1990: $383.51
1995: $383.79
2000: $279.11
2005: $444.74
2010: $1,224.53
2011: $1,571.52
The day in September you made this thread: $1,769 (or basically the same value as adjusted for inflation the last time the gold bubble began to burst)
Today: $1,706.80...a 3.52% drop since you made this thread.
Notice how when it ramped up during the Carter years that it suddenly crashed and didn't recover its value for 26 years?
If anything looks like a bubble right now, it's the price of Gold. When it crashes, and it will crash hard and you people who are exactly the same as the idiots who were getting houses with 3% down saying "it'll be worth 2x as much next year" will realize how dumb it was to jump into a bubble.
That's why I'm loading up on DZZ (doubleshort gold ETF) and will be laughing all the way to the bank just like I did when everyone said that Real Estate was going up and could only go up.
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.
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.
