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When you compare 1980 to 2013 regarding gold you REALLY look foolish!
The two situations could not be any more different.
Do you have any clue what the velocity of money was then versus now?
You guys who think that the government has discovered a magical money tree and that trillions of new dollars whipped up out of thin air has no consequences should take a basic economics course or something.
You guys sound like Internet stock bulls in 1999...they were quite smug...until the floor dropped out from beneath them.
REALLY?
Look at what gold is doing TODAY.
As I post this gold is down over $30 today (another 2.3%)
Still think I looked "foolish" when I said a few days back that the gold crash was going to continue?
Really?
It's now given up nearly all the gains it made after the last crash - and it'll drop further - much, much further.
The "gold rush" is OVER - but cheer up, maybe it'll happen again in another 30 years.
Ken
Last edited by LordBalfor; 05-15-2013 at 09:46 AM..
What? No mention of the Fed's over $1 TRILLION purchasing program and its relation to interest rates?
Interesting.
...and when the Fed needs to SELL bonds...what then?
Face it...the writing is on the wall. Understand THEN post.
The theory that the Federal Reserve is keeping interest rates artificially low by buying government bonds was put to the test two summers ago when the Fed temporarily suspended bond purchases. Nothing happened to rates.
Niall Ferguson of Harvard, in 2009, declared the government's "tidal wave of debt issuance," would cause U.S. interest rates to soar. Over two years ago, Erskine Bowles, the co-chairman of the deficit commission, warned that unless action was taken on the deficit soon, "the markets will devastate us," probably within two years. I'm still waiting. The fact is, selling bonds is exactly what the federal government is doing to fund the deficit and investors are willing to lend the government money at very low rates.
So make up your mind as to what you want to get upset about, buying or selling bonds.
Hey, go for it.
I don't care how much money you lose.
Ken
I had $250,000 in TSP retirement. The socialist came into office and it shrank to just over $30,000. I cleaned my money out of the TSP and bought gold and I am slowly recovering my money. I will sell my gold when that socialist is out of office.
I had $250,000 in TSP retirement. The socialist came into office and it shrank to just over $30,000. I cleaned my money out of the TSP and bought gold and I am slowly recovering my money. I will sell my gold when that socialist is out of office.
You didn't say where that money was invested. If we assume it was in stocks, your money lost its value in 2008, before "the Socialist" was in office.
Since "the Socialist" was in power, this is where stock investments have gone:
I don't know how your investments lost 85% of their value when the markets "only" dropped by half.
But if you had stuck with stocks you would be up now.
I had $250,000 in TSP retirement. The socialist came into office and it shrank to just over $30,000. I cleaned my money out of the TSP and bought gold and I am slowly recovering my money. I will sell my gold when that socialist is out of office.
You are not "recoverying it" today, and you haven't been "recoverying it" for 2 years now - and you'll likely never "recover it" in the next 20 years - but hang in there, maybe 30 years from now you'll be able to "recover it" again.
You are not "recoverying it" today, and you haven't been "recoverying it" for 2 years now - and you'll likely never "recover it" in the next 20 years - but hang in there, maybe 30 years from now you'll be able to "recover it" again.
Ken
Yes I am. My gold, the actual metal, not some paper saying I own gold, is worth in excess of $100,000. I have reduced my TSP contributions to 0 and I have been buying gold steadily. If I had left my TSP alone, it would be worth significantly less. I did the math.
Still think I looked "foolish" when I said a few days back that the gold crash was going to continue?
Really?
It's now given up nearly all the gains it made after the last crash - and it'll drop further - much, much further.
The "gold rush" is OVER - but cheer up, maybe it'll happen again in another 30 years.
Ken
Ah...I see where you are making your mistakes now.
You are popping the champagne every day when the price falls...you aren't a long term investor.
For you, long term is a week. I thought you had some sort of a clue about the long term effects of out of control money printing. My mistake.
I hope for your sake that interest rates never go up again even though that has never happened before in history.
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