Gold?

[Gunner3456]

My question is this Jim: we should be taking investment advice from you because....?:huh:

 

[Just Jim]

No one is arguing different jj. I personally don't think it's a good investment at $1300 plus an oz either because you can dig it out of the ground for less, and the differences in price is speculation. Yet it could still run to over $5000 from here. No one knows. However, being averaged in at under $400 certainly makes him a smug son of a b*ch and makes you....what? Make your play and others will make theirs.

Say that he has the accumulated food stores next to gas masks and every SHTF items needed, he has $40,000 of an alternate currency account (FDIC insured denominated in Yuan), a fair sized Fidelity retirement account 60% US stocks, 40% foreign stocks and a fat regular bank account and dude has an additional $80,000 cash under his mattress or in his safe. The safe is also full of weapons and a bunch of ammo. If dude wants to put some in gold, so what? Why do you care? He bought $40,000 of gold back when it was under $400 and oz and a "bad" investment and now his 100 oz are worth over $130,000. There is a market for gold and there always has been since pre-history. You think that the US dollar's prospects are good from here on out? Jim Rodgers, George Soros and Warren Buffett are investing otherwise.

BTW, say also that the mans house is worth $500,000 and is paid off and he has 2 rental houses in case inflation hits. You keep reiterating over and over and over here that buying any gold is a bad idea. My question is this Jim: we should be taking investment advice from you because....?:huh:

I am sorry you take my opinion as advice I really could care less what others do with their money but it is funny to me how people think what they are doing is right for everybody.

Starting with the $500,000 house, is it still worth that much I remember the bubble in houseing, do you? oh it's still going Hope that gold thing works out just as well. Bubbles always seem to be with someone telling you a product is worth this much and you will gain if you just buy. Alot of empty houses out there with people loseing their @$$ but even today somebody is out their saying "now is the time to buy".

Winners and losers. Nobody wants to be a loser so they listen to the winners for advice. To me in my opinion I have a different picture of who is a winner and who is the loser and that is all it is, not advice. You may understand people can have opinions different than yours as hard as that is to believe

jj

 

[Just Jim]

I feel no need to make others feel like less because of my success. I will say I am out of debt which means I owe nobody any money and I did it as a plain old working stiff without screwing a soul out of a dime.


Keep store of your treasures on earth, your realitives need the money when you leave.

jj

Edited to add, which drives the price of gold more, fear or greed?

 

[Gunner3456]

I feel no need to make others feel like less because of my success. I will say I am out of debt which means I owe nobody any money and I did it as a plain old working stiff without screwing a soul out of a dime.


Keep store of your treasures on earth, your realitives need the money when you leave.

jj

Edited to add, which drives the price of gold more, fear or greed?

jj, you KEEP talking about gold as an investment, as to whether its price goes up or down.

I KEEP talking about it as a way to hide and store a large amount of wealth even if it's price goes way down. It will never be worth nothing and it hasn't for thousands of years. It can't be confiscated if it's hidden. There will always be a black market just as there is today for illegal drugs.

I keep trying to compare it to paper investments should the SHTF, maybe worldwide, and should we have to dig in for a long time.

You still haven't told me what else to do with a surplus $10 million should you have it.

 

[Just Jim]

When the assualt rifle ban was implemented in the 90s it drove the prices sky high. When the ban went away the prices came down a bunch. When Obama got elected the black gun prices soared again and at the last show I could buy as many as I wanted for about $650. Both times guys took advantage of the prices on the way up and those who bought high got screwed if they sell.

Gold one time before went up to $900+ and then crashed to what, $300 for years and years. In my opinion people will do what they think they must when it comes to investment. Winners will brag and you never hear from the losers. Some of us just don't play the game.

jj

 

[Just Jim]

jj, you KEEP talking about gold as an investment, as to whether its price goes up or down.

I KEEP talking about it as a way to hide and store a large amount of wealth even if it's price goes way down. It will never be worth nothing and it hasn't for thousands of years. It can't be confiscated if it's hidden. There will always be a black market just as there is today for illegal drugs.

I keep trying to compare it to paper investments should the SHTF, maybe worldwide, and should we have to dig in for a long time.

You still haven't told me what else to do with a surplus $10 million should you have it.

In your case Gunner in my opinion not advice you should buy a used car lot

Hope it all works out for you.

jj

Edited to add, in your own words you would be willing to break the law ( It can't be confiscated if it's hidden), what does that tell us?

 

[Gunner3456]

When the assualt rifle ban was implemented in the 90s it drove the prices sky high. When the ban went away the prices came down a bunch. When Obama got elected the black gun prices soared again and at the last show I could buy as many as I wanted for about $650. Both times guys took advantage of the prices on the way up and those who bought high got screwed if they sell.

Gold one time before went up to $900+ and then crashed to what, $300 for years and years. In my opinion people will do what they think they must when it comes to investment. Winners will brag and you never hear from the losers. Some of us just don't play the game.

jj

In your case Gunner in my opinion not advice you should buy a used car lot

Hope it all works out for you.

jj

jj, you just can't friggin read or comprehend. I don't CARE if the price of gold goes down.

I can't think of anywhere else I can put excess wealth for a very long time through a SHTF and you STILL are unable to answer my question as to what the alternative is.

You still talk in the NOW instead of ten years from now AFTER a SHTF and IF we survive it.

It's like you read and write in a whole different language.

I'm friggin' finished with this. Bye.

 

[trainsktg]

As mentioned earlier, many Jews were able to flee Europe with gold and diamonds sewed into their clothing. It was the only way they were able to carry even a portion of their family's net worth across the border without arousing suspicion, theft or assault. You can't put Steinways, Porches or your family home in your carry-on luggage. Gold preserves wealth.

Keith

 

[Just Jim]

"jj, you just can't friggin read or comprehend. I don't CARE if the price of gold goes down.

I can't think of anywhere else I can put excess wealth for a very long time through a SHTF and you STILL are unable to answer my question as to what the alternative is.

You still talk in the NOW instead of ten years from now AFTER a SHTF and IF we survive it.

It's like you read and write in a whole different language.

I'm friggin' finished with this. Bye."









Guess I just can't say what you want to hear I haven't been sold the bubbles that others buy into. Funny how they say "gold has never been worth nothing". How much would you pay for some nice collectable Colt SAAs? Have they ever been worth nothing?

Nah, no sense keeping at this, value is in the eye of the buyer. You guys will get what you want, kinda

jj

 

[Just Jim]

As mentioned earlier, many Jews were able to flee Europe with gold and diamonds sewed into their clothing. It was the only way they were able to carry even a portion of their family's net worth across the border without arousing suspicion, theft or assault. You can't put Steinways, Porches or your family home in your carry-on luggage. Gold preserves wealth.

Keith

Maybe if a person were going to run they should have an account in the country they are running to before they leave. You wouldn't have to hide your gold on your body then. Todays body scanners and patdowns are going to make it difficult to get your gold out of the country.

Gold preserves wealth when you have stability enough that people will accept it. If stability fails I doubt gold is going to have near the value people are putting on it now.

I wonder how far the bubble will rise before it falls?

jj

 

[Siglvr]

I am sorry you take my opinion as advice I really could care less what others do with their money but it is funny to me how people think what they are doing is right for everybody.

Couple things: first, when Gunner laughed at my last post, I think he might have read it as a put down. I didn't mean anything of the sort, and hope folks can just read it for what is is and not add something mean or sarcastic that I didn't intend. I apologize if it came off as being mean or rude. It was a serious question.

Next, Gunner never said what he is doing is right for everyone. He is searching for a way to preserve some of his assets in the event the dollar depreciates. In fact, the person who stuck all that money into Yuan made a bad choice: the Aussie and other currencies have risen dramatically while the Yuan is a stick in the mud. A better play would have been a broader based basket of currencies, which is actually easy to buy. The fact is that gold can and will go down. When, where and how much will be determined after the fact, but I can assure you that it's gonna be a while. You don't want to buy any, fine with me. The fact that had you bought some at $281 like some others here, you would be a much wealthier man doesn't matter to me at all. Your choice. The real question is how to protect what you have going forward based on these larger forces at work. Your idea of other currencies is a very good one. Another one, is to buy Canadian stocks, should you have to move and you can't take your stock certificates, have them reissue them when you get there should you have to move there. Having worked for a Jew who swam a lake into Switzerland and personally avoided the horror, (the late Max Bernbach) a man who hired any holocaust survivor who asked, brings it close to home for me what can happen. Working side by side everyday with a shattered soul who has a bunch of numbers tattooed on his arm has a way of bringing a seriousness to this kind of issue that involves fear for this unknown future barreling down on us all. We've been spending like drunken sailors boyz, and no one is looking forward to the inevitable: that is, waking up tomorrow with painful pounding headaches and mouths that taste like a herd of Buffalo have stampeded through them. Should we be looking for legal ways to diversify and possibly better survived the coming problems? Uhhh, that's an easy question that I can answer for myself, anyone else can do whatever they wish.

Do I like gold at over $1300 an oz. NO. Could it go to $5,000? Sure, easily. Would I buy some now? No. Will I sell some now? No. Has Peter Schiff been wrong before? Sure, every economist has, but his words, as Gunner says early on, are certainly worth reading slowly and reflecting on. This thread is about that reflection. Our country may take a huge hit, but that doesn't mean that we, as individuals have too take the same hit. If it goes bad for the country, we will have a difficult enough time as individuals even if we are prepared. Being better braced for this will help us, and allow us to later help others and our country when it is needed. In the event that the worst doesn't happen, some of these folks will have some extra food, some extra ammo, some extra gold, some extra water...I don't see a downside if one is reasonable. (To the guy who wanted to convert all of his cash into weapons and ammo: bad idea dude).

Thanks for the heads up and sharing the article Gunner.

Regards to all, and again: deep apologies to anyone who might need one. We are all on the same side, and even a single (what appears at the time to be a) bad opinion may in fact later be found to have been the correct one.

Bill

 

[Just Jim]

Well lets give gold another point of view You guys see it as a way to keep your money when the value of the dollar tanks. Gunner says to think 10 years down the road on this so lets see now...

Dollar tanks and loses it's value to where nobody will take it so gold goes to $15,000 an ounce in dollars. What will that gold buy in commodities when the dollar tanks because you won't want dollars?

When the government finishes off the dollar for them to remain in power they will need new currency. To my mind all people will accept is gold and silver to back that currency so the government will have to confiscate all but numistic gold and silver to re-float a new dollar. Gold in any other shape will be illegal to own and they will issue new script for the gold they steal from you.

Our corrupt officials are tanking the dollar with debt as we speak. The systems they have set up will find out who has gold and will make it near impossible to move. To hide it and dig it up with the thought of a blackmarket is a risky investment.

I suspect that the only gold a person can keep will be old gold coins. However with all the Chinese fakes comming in a person better know their crap before they buy. Who knows if government will allow any gold or silver when they start stealing it.

jim

 

[Wheeler44]

While I can understand why some folks might find gold a good wealth preserving strategy. I am flabbergasted that they would announce such to the world via the internet..Especially if they've also shared other identifying information as well. It sounds like a recipe for "S" hitting the personal fan, regardless of what the national and world economies do.

W4

 

[EZLivin]

While I can understand why some folks might find gold a good wealth preserving strategy. I am flabbergasted that they would announce such to the world via the internet.

That is why I like the Central Fund of Canada, plus select mining stocks. (Not investment advice, etc., etc., etc.,)

 

[trainsktg]

While I can understand why some folks might find gold a good wealth preserving strategy. I am flabbergasted that they would announce such to the world via the internet..Especially if they've also shared other identifying information as well. It sounds like a recipe for "S" hitting the personal fan, regardless of what the national and world economies do.

W4

Agreed.

Unfortunately, all of my gold, guns and ammunition were tragically lost in a boating accident in the middle of the deepest part of the Columbia River so I have nothing to worry about. Very sad.

Keith

 

[Wheeler44]

Agreed.

Unfortunately, all of my gold, guns and ammunition were tragically lost in a boating accident on the middle of the deepest part of the Columbia River so I have nothing to worry about.

Keith

Sorry to hear it Keith...It happens to the best of us...

W44
(We met in Wilsonville Mar '09)

 

[trainsktg]

W44
(We met in Wilsonville Mar '09)

I've never forgotten .

Now that I'm back home, I'll be scheduling myself for another Appleseed soon.

Keith

 

[Wheeler44]

I've never forgotten .

Now that I'm back home, I'll be scheduling myself for another Appleseed soon.

Keith

Glad to hear it.... The range at Douglas ridge is very nice. I look forward to seein' ya on the trail...

W44

 

[Just Jim]

While I can understand why some folks might find gold a good wealth preserving strategy. I am flabbergasted that they would announce such to the world via the internet..Especially if they've also shared other identifying information as well. It sounds like a recipe for "S" hitting the personal fan, regardless of what the national and world economies do.

W4

Your flabergasting is going to make the boys paranoid about all their extra cash love it Guess at a time like this just haveing enough extra cash to fit in a change purse is a positive

jj

 

[Markjz]

well if you are preparing for a SHTF situation, like hyperinflation/total dollar collapse, it would be best to buy food, not gold. in a world of starving people gold will be of no use.

I'll bet you could trade a loaf of bread for just about any thing