Gold?

[Gunner3456]

You had me worried there for a minute when you mentioned a portfolio. I guess you could call a well stocked gun locker a balanced portfolio.

I define portfolio as everything I own of value except things I need for daily living. All and any investments.

I have a "portfolio" of 50 - 60 year old Schwinn bikes, and they have gone way up in value but they might crash if things got bad. They might fall from collector value to transportation value.

That's why I like diversity.

 

[Gunner3456]

Here's a good place to not spend money...

 

[dave]

No bald eagle or spotted owl on the list?
I dont buy it!

 

[MrNiceGuy]

Gold is at an all time high. NOW IS THE TIME TO BUY!!!!....... from me.....
I will sell you gold at a record breaking high price plus shipping charges, service charges, overhead fees, and tax....


A sucker and his money are soon parted.

 

[Gunner3456]

Gold is at an all time high. NOW IS THE TIME TO BUY!!!!....... from me.....
I will sell you gold at a record breaking high price plus shipping charges, service charges, overhead fees, and tax....


A sucker and his money are soon parted.

I don't know if gold will go up or down from here. I just know it's gold as opposed to fiat dollars made of paper in any quantity the Fed decides.

In the worst case scenario it will have some value, and that can't be said as assuredly about dollars.

What else are you going to hide in case we crash, you make it to the other side, and things start to improve?

I have 15% of my net worth in gold. That's not enough to ruin me if it goes down. However, it's going to have to go down to under $600 before I lose any money because I've been buying for ten years.

"A sucker and his money are soon parted."

I don't know very many people who actually have much if any money. That's what's sad.

 

[MrNiceGuy]

I don't know if gold will go up or down from here. I just know it's gold as opposed to fiat dollars made of paper in any quantity the Fed decides.

In the worst case scenario it will have some value, and that can't be said as assuredly about dollars.

What else are you going to hide in case we crash, you make it to the other side, and things start to improve?

I have 15% of my net worth in gold. That's not enough to ruin me if it goes down. However, it's going to have to go down to under $600 before I lose any money because I've been buying for ten years.

Below $600 is easy with gold. Sure it can be a great hedge investment, but the value of gold fluctuates so wildly that it cannot support a large monetary system or budget.

Gold is a gamble... a big gamble... and considering that it's at an all time high, it's an ABSOLUTELY ENORMOUSLY HUGE gamble right now.

Gold is only worth what someone is willing to pay for it. If things get bad enough, then gold is worth it's weight in rocks. If things get really good, then then gold will be back down to $200/oz in no time.

 

[Gunner3456]

Below $600 is easy with gold. Sure it can be a great hedge investment, but the value of gold fluctuates so wildly that it cannot support a large monetary system or budget.

Gold is a gamble... a big gamble... and considering that it's at an all time high, it's an ABSOLUTELY ENORMOUSLY HUGE gamble right now.

Gold is only worth what someone is willing to pay for it. If things get bad enough, then gold is worth it's weight in rocks. If things get really good, then then gold will be back down to $200/oz in no time.

I don't care which way it goes. If it goes to zero I still have 85% of my net worth and I have the gold to look at.

What you can count on is the dollar losing value.

 

[trainsktg]

What you can count on is the dollar losing value.

This.

Keith

 

[MrNiceGuy]

I don't care which way it goes. If it goes to zero I still have 85% of my net worth and I have the gold to look at.

What you can count on is the dollar losing value.

Gold will lose value too, you can count on that.
Investing a minority of your portfolio in gold may pay off down the road, but as a monetary system, it's far too rigid and unstable. The dollar may fluctuate a few percentage points, but gold values fluctuate wildly. Stability is the key. Imagine the dollar as a bumpy road... Now, imagine gold as a roller coaster. There's much more gains, but much more losses as well.

Remember, gold is largely just a decorative mineral. Anyone who tells you that gold will always be worth something is probably trying to sell you something.

 

[Just Jim]

last time gold made a run it went up around $800 before it crashed. That was some years ago and silver went up to $40 because of the Hunt bros. This time is different because we are looking at the collapse of the dollar.

Should the dollar fail, gold may be worth alot of worthless dollars. Or what could you buy in hard times with an ounce of gold, a cow?? Who knows, but fact is these times ahead are going to be very interesting.

jj

 

[torpedoman]

I have been and continue to buy silver and gold along with ammo and guns silver is a much better buy with a much larger upside for profit. go to kitco.com and you can buy physical as well as buy into their metal pool the pool is very liquid and fast and easy to buy and sell. or keep you wealth in the federal reserve toilet paper.

 

[EZLivin]

The dollar may fluctuate a few percentage points, but gold values fluctuate wildly.

Seems like $USD at 120 in 2002 compared to a $USD at 77.55 as I write is significantly more than "a few percentage points."

 

[coctailer]

Gold will lose value too, you can count on that.
Investing a minority of your portfolio in gold may pay off down the road, but as a monetary system, it's far too rigid and unstable. The dollar may fluctuate a few percentage points, but gold values fluctuate wildly. Stability is the key. Imagine the dollar as a bumpy road... Now, imagine gold as a roller coaster. There's much more gains, but much more losses as well.

Remember, gold is largely just a decorative mineral. Anyone who tells you that gold will always be worth something is probably trying to sell you something.

Not exactly true.
Gold is not an investment per se. It is for conserving wealth.

Gold is worth almost EXACTLY the same as it was in ancient Roman times.

Back then, with 1 ounce of gold, a Roman could buy the finest sandals, a really sweet toga, and dinner for 2.

Today a man can buy some really sweet shoes at Macys, a kick-butt suit, and dinner for 2.

Exact same purchasing power for hundreds of years.

 

[Sasquatchvnv]

I don't know if gold will go up or down from here. I just know it's gold as opposed to fiat dollars made of paper in any quantity the Fed decides.

In the worst case scenario it will have some value, and that can't be said as assuredly about dollars.

What else are you going to hide in case we crash, you make it to the other side, and things start to improve?

I have 15% of my net worth in gold. That's not enough to ruin me if it goes down. However, it's going to have to go down to under $600 before I lose any money because I've been buying for ten years.

I don't know very many people who actually have much if any money. That's what's sad.

I'm with gunner all the way on this one. At least the metal in my hand will be worth SOMETHING. The dollar won't even make very good toilet paper...

 

[spider]

Gold has always been very interesting to me, when I was in Cambodia in 1999, I was only 14 years old and used my current savings at the time to buy a bracelet made of 22kt that weighs 3 damlung for $999, so this whole time I thought damlung was a khmer word for an Ounce, but low and behold when I went to one of those "Cash for Gold" places for shiz and giggles, my bracelet ended up weighing 112.5grams, so a Damlung weighs 37.5 grams and my bracelet is worth almost $4000, incredibly, then the audacity of the guy to offer me $2200 lol. I want to sell it but its going to be a family heirloom now.

 

[asiparks]

In Vietnam they use Tael as a unit, which is 1.2 oz or 35 grams, I bought a nice bracelet for the wife some years ago. Damlung sounds almost the same....

 

[trainsktg]

Since no-one knows what the future will bring, owning a variety of material goods is the key to maintaining some measure of wealth in uncertain times. Gold has been one such material good for 6,000 years. It may swing wildly, and might be worth less than a quart of water to a man dying of thirst in a desert, but by and large it has had a solid track record of preserving wealth longer than civilization has existed.

Keith

 

[trainsktg]

Not exactly true.
Gold is not an investment per se. It is for conserving wealth.

Gold is worth almost EXACTLY the same as it was in ancient Roman times.

Back then, with 1 ounce of gold, a Roman could buy the finest sandals, a really sweet toga, and dinner for 2.

Today a man can buy some really sweet shoes at Macys, a kick-butt suit, and dinner for 2.

Exact same purchasing power for hundreds of years.

That pretty much sums it up.

 

[Gunner3456]

Gold will lose value too, you can count on that.
Investing a minority of your portfolio in gold may pay off down the road, but as a monetary system, it's far too rigid and unstable.

The dollar may fluctuate a few percentage points,

The dollar has lost 17% of its value this year against other currencies, and that's with other countries trying their best to keep the value of their own currencies down. This week the Fed let it be known they are going to create another $600 billion in dollars out of thin air. That's to finance our deficit.

You can't create gold out of thin air. Dollars are just a line on a balance sheet or a piece of paper.

but gold values fluctuate wildly. Stability is the key. Imagine the dollar as a bumpy road... Now, imagine gold as a roller coaster. There's much more gains, but much more losses as well.

Remember, gold is largely just a decorative mineral. Anyone who tells you that gold will always be worth something is probably trying to sell you something.

For some reason you are missing what's happening to the dollar. It's not so much that people believe gold will go up or down, it's that the Fed is destroying the dollar. They can't do that to gold by creating as much of it as they want.

Also, China just this year made it legal for the first time for its citizens to buy and own gold. There's a huge new market.

The chairman of the World Bank has called for a world currency for trading that would be wholly backed by gold. Where would they get that gold to create that currency when there's a finite supply of it?

India has a new policy of investing in gold instead of dollars.

The reason the Fed is creating another $600 billion in dollars is because Russia, Japan, China and India have largely stopped buying our treasuries. We've been counting on them to do that to finance our deficits and our debt. Now because they've lost faith in the dollar, we have to print more dollars to finance our own debt.

Creating new dollars out of thin air dilutes their value. A devalued dollar is inflation. Inflation is "things" going up in relation to the dollar or, it's the dollar losing value, take your pick.

This isn't about gold. It's a loss of faith in the dollar, and looking for diversification away from it.

 

[Gunner3456]

Gold might go down, but the dollar will go down.

Gold might go up, but the dollar will go down.

There is a finite supply of gold and even if you don't, the rest of the world see's gold as a place to run to in times of economic uncertainty and you're seeing it in the markets right now.

If the dollar via inflation becomes worthless, the US will issue a new currency in an attempt to save itself. They can't do that with gold.