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Most investment strategies only recommend gold, as part of it. So I don't agree w/ it being a horrible investment. It has a purpose. All investments do. Our economy is pretty much nothing, but bubbles so just gotta time and diversify. In terms of value, gold did fluctuate over that 25yrs so you could also use it to make money much like currency exchanges, etc... Certainly, not like housing, but housing, as has been seen was a rather large bubble, that still has some changes to come.
There is nothing wrong with having gold as part of an investment - though as I said, over the long run it's done quite poorly - and I don't have a problem with folks having some gold as a simple investment (even if I think it's a bad investment - that's their choice how to invest their money). What I have a real problem with is those folks on this board pushing gold based on some stupid theory that the US dollar was going to collapse. I saw this same nonsense back in the late 70's (the exact same arguments) and the fact is a LOT of people got hurt REALLY BADLY when gold tanked. The SAME thing will happen this time around too (in fact it's ALREADY started).
"Those who fail to learn from history are doomed to repeat it".
I've seen it all play out before - SSDD ("Same Sh*t, Different Day")
The arguments of those gold bugs back then were lousy (based on poor logic and incorrect assumptions) and they are just as lousy today - as events (ie the gold price drop) of the last 2 years have shown (and that is just the beginning).
Ultimately, as I stated, people are the value. Gold does have however, intrinsic value and yes historical backing. Not sure your point?
Gold is a substance with intrinsic value and history. Currency is a medium of exchange representing people's energy.
Ultimately gold is a dinosaur - as is paper currency.
Electronic currency is the way of the future, gold will NEVER make a return as the "currency of choice" any more than the sword will make a return as the 'weapon of choice'.
Ultimately gold is a dinosaur - as is paper currency.
Electronic currency is the way of the future, gold will NEVER make a return as the "currency of choice" any more than the sword will make a return as the 'weapon of choice'.
Ken
Electronic currency certainly has been the trend, not futuristic. Bitcoin is benefiting from this. However, I don't see tangibles as valueless, don't see that ever happening. Electronic currencies could be a problem if technology has a blip. A CME is one way that might occur. However, people investing is their own choice. I think the economy has much still to come and it isn't prudent to not have some planning.
Quote:
Originally Posted by Dane_in_LA The gold bugs will be around to tell you that gold is the only constant in the equation, and that it's in fact everything else that fluctuates.
Quote:
Originally Posted by BentBow The thing with gold, you don't gain or lose worth.
As the dollar gains strength and commodities lower in price so does gold.
The same amount of gold in 1928, that it took to buy a gallon of gas, a gallon of milk, or a loaf of bread, it takes today.
They get you and tax you by making you use and bank dollar bills
Quote:
Originally Posted by Dane_in_LA
Called it!
You knew the truth and then you admit you cannot argue with the truth.... Marvelous. LOL!
Gold sat for nearly 25 YEARS and gained virtually NOTHING at all - and consequently lost ground (because of inflation) against virtually EVERYTHING (including HOME PRICES). The fact that it's just come off a BUBBLE is supposed to prove that gold keeps it's value over time? It was a BUBBLE - it's TEMPORARY - and it's now popping - and when it's done popping - and gold is sitting somewhere around $1100/ounce or so, it will probably sit there for another quarter-century until people forget how badly they got burned the last time around and buy into the stooopid gold nonsense all over again.
Ken
When it pops, price of goods would have fallen to make it drop. Meaning the dollar got stronger.
Last deer season I would hunt mornings and evenings, and prospect for gold from 10:00- 3:30/4:00 at the creek.
Assayers office and platinum, nickle & copper, on top of the gold. I made as much prospecting and having fun, part time, as I did the other 8 months of hard labor.
Quote:
Originally Posted by Dane_in_LA The gold bugs will be around to tell you that gold is the only constant in the equation, and that it's in fact everything else that fluctuates.
Quote:
Originally Posted by BentBow The thing with gold, you don't gain or lose worth.
As the dollar gains strength and commodities lower in price so does gold.
The same amount of gold in 1928, that it took to buy a gallon of gas, a gallon of milk, or a loaf of bread, it takes today.
They get you and tax you by making you use and bank dollar bills
You knew the truth and then you admit you cannot argue with the truth.... Marvelous. LOL!
That's Classic!
It's not "the truth" - it's "what you would say" - BIG difference.
When it pops, price of goods would have fallen to make it drop. Meaning the dollar got stronger.
The price of "goods" continues to rise (with very slight inflation).
It's GOLD that's dropped - against the dollar, against the Yen, against the Euro, against the price of candy bars, milk, eggs and everything else.
Ken
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