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Sure - a dollar buys less - but as long as my wages go up respectively why do I CARE? Now it IS true that wages have not kept for the last 30 years or so but that's not intrinsic to having a fiat currency - after all wages FAR outstripped inflation for decades prior to that, during which time we had fiat currency. Not only that, but there was inflation during the time the US dollar was gold-backed (some of the worst inflation the US suffered was in the late teens and early 20's - more than a decade BEFORE we went off the gold standard so having a fiat currency vs using gold has really no relationship to inflation).
And good for you that you bought at $241/ounce. When did you buy that - back in 1978? So how long did the money you invested in gold sit idle? I can tell you - it was a quarter of a century. Fine, you didn't lose money on it during that time - but you missed out on OTHER opportunities to use that money to MAKE money during that time. Essentially the money invested sat idle doing nothing until the next gold spike. IN any event you can feel free to hold on to your gold, who knows you MIGHT even still be alive when it spikes again.
Ken
I got my gold in 1999, a bit over 1500 ounces, I have it in hand at home. did it sit idle, yes it did for awhile.
It's very similar to the real estate bubble, isn't it? At the height of the real estate bubble in the US, there were endless commercials of 0% down low APR mortgages and refinancing of houses. Every other commercial was to get people to buy houses they couldn't afford because the interest rates were so cheap! Gold replaced mortgages as the new hot money commodity.
And then inbetween we had oil speculation that drive gas prices sky high.
Heck, banks even had their own oil tankers for a while because they actually did take delivery !
And then inbetween we had oil speculation that drive gas prices sky high.
Heck, banks even had their own oil tankers for a while because they actually did take delivery !
Now I'm wondering when oil prices are going to crash. Most of the price you see at the pump is not due to supply and demand, it's being driven by derivatives. One way to crash and burn the "job creators" who are artificially keeping oil pumped up that high, is for the US to release the Strategic Petroleum Reserve and cause panic selling among the derivatives mongers
I got my gold in 1999, a bit over 1500 ounces, I have it in hand at home. did it sit idle, yes it did for awhile.
Well then you bought at good time - good for you, but as the past 2 years have shown, the gains that you made between 1999 and 2011 were NOT typical. It was a BUBBLE and your rode the bubble up - and now you are riding it back down. Will it go back down to the $200-some-odd you paid for it? Not likely. Will it go down from where it is NOW? Quite probably. Gold is commodity - and like ANY commodity it bounces around.
For the last 2 years the US dollar has done wayyyyy better than gold.
Now I'm wondering when oil prices are going to crash. Most of the price you see at the pump is not due to supply and demand, it's being driven by derivatives. One way to crash and burn the "job creators" who are artificially keeping oil pumped up that high, is for the US to release the Strategic Petroleum Reserve and cause panic selling among the derivatives mongers
Well then you bought at good time - good for you, but as the past 2 years have shown, the gains that you made between 1999 and 2011 were NOT typical. It was a BUBBLE and your rode the bubble up - and now you are riding it back down. Will it go back down to the $200-some-odd you paid for it? Not likely. Will it go down from where it is NOW? Quite probably. Gold is commodity - and like ANY commodity it bounces around.
For the last 2 years the US dollar has done wayyyyy better than gold.
Ken
the broker i go to thinks it will go down to about 850 before it goes back up again. if what she says is true, then i still make out.
I got my gold in 1999, a bit over 1500 ounces, I have it in hand at home. did it sit idle, yes it did for awhile.
Normally one does not brag about having over 1.5 million dollars in gold sitting in their home on the Internet. Not a smart from a security stand point.
Normally one does not brag about having over 1.5 million dollars in gold sitting in their home on the Internet. Not a smart from a security stand point.
over 1800 acres of land and a home hard to break in. i dont think many people would even be able to find my home, let alone break into it. even tought I have money into gold, my real investment is the homes for rent that I own.
Normally one does not brag about having over 1.5 million dollars in gold sitting in their home on the Internet. Not a smart from a security stand point.
Many members on here have a lot more money than that, at least that's what they say.
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