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My question is this Jim: we should be taking investment advice from you because....?:huh:
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My question is this Jim: we should be taking investment advice from you because....?:huh:
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 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.
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
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
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.
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.
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
Sorry to hear it Keith...It happens to the best of us...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
W44
(We met in Wilsonville Mar '09)
Glad to hear it.... The range at Douglas ridge is very nice. I look forward to seein' ya on the trail...I've never forgotten .
Now that I'm back home, I'll be scheduling myself for another Appleseed soon.
Keith
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