Why do you think Gold or Silver is worth more then a red turd?

[MinnesotaORnewbie]

Ok, so I understand economics. Please don't quote me how many ounces of gold have been minded so far and numbers that try to prove a point, mainly by people selling gold, and the ones who are so into follow along because of their investment in it. Nor the centurys that gold has been used as a source of monetary value. Or that our country is based on it. LOL, I had to laugh after I typed that, LOL. AKA monopoly! So what is value? Fuel and energy, food, shelter, clean water, shiney metal that people make money from, or wait, things that people make money from, duh, I mean, ....it still comes out the same. The diamond is one of the worthless items in the world, other then used in industry for superb cutting. Yet as a value for investment, no, There is enough diamonds in vaults locked away to flood the market for ever. yet clever marketing has made most americans to believe a diamond is forever, and a girls best friend, and demand with limited supply becomes huge inflation. If you just paid thousands for your womens diamond, I hope you realize there are millions of them in london basements, only being leaked out in trickels so you pay 15% of your yearly income for one. Yea!
So what makes gold so good. I never hear once, anyone say that is selling gold, how it is at its highest, and how you should never invest on anything that is at its highest. Do you do it in gas, how about, stocks, what about stock feed, or clothing? hmmm, well it is a valuable resource? Companys are not dumb, they avoid using it as much as possible because of the high prices. I can go on but now I feel I have lost money in just spending 15 minutes of my life debating gold. What if it falls? Does that mean I gain livable time value back, or do I loose days. So in the days of SHTF, or even in just a mild country wide termoil, why will Gold be worth more then my every 10 year red turd weighed in Kernals.

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[slimmer13]

As a general rule, Gold and Silver prices dont ever go down, only up. So if you already have your "bullets, beans and bandaids" squared away then precious metals are a much better and safer investment than a 401k IMO. If the S ever does HTF then paper $$ will be toilet paper but I would imagine that gold and silver would retain its value as currency as its done for ever.

 

[Burt Gummer]

Gold and other PMs are nothing more than a substitute for digits/dollars that are backed by nothing but the (mis)belief that they are backed by something/anything. Gold is like any other 'real' thing. Paper/dollars are nothing and can evaporate to -0- in a day when the 600+ trillion dollar derivatives market collapses and takes everything paper-based with it. Hope that helps.

 

[MinnesotaORnewbie]

so gold and silver would follow, in current economic value? It just scares me to hear of friends investing More then they can afford into one thing. I fear the "next best thing".

 

[EZLivin]

So in the days of SHTF, or even in just a mild country wide termoil, why will Gold be worth more then my every 10 year red turd weighed in Kernals.

That is a pretty ignorant statement. You might want to look at human history to determine what are traditional stores of value. I suppose you might find a lost tribe in outer Dumbozia that considers turds to be a store of value, but pretty much everyone else in the world considers gold, silver, diamonds, precious stones, art, and certain collectibles to be stores of value. Some are more liquid than others. I tried to make this short so you wouldn't waste too much of your life reading it.

 

[Boats]

I can see both perspectives. Gold and other highly portable wealth are valuable if the expectation is a near term return to something approaching normalcy.

In a world gone down the crapper for the unforeseeable future, they don't mean much at all, and might actually be a survival liability.

 

[Mark W.]

Well as to gold never going down BULL.. It was up to 1900.00 on the 5th of Sept. About the 1st of Oct it was down to $1598.00 and now today its back up to $1704.00


So if you bought around the first week of Sept your investment has lost roughly $200.00 an once.

 

[MinnesotaORnewbie]

EZLivin> This is mearly a question to all and part opinion on my behalf. Im confused on your statement

That is a pretty ignorant statement. You might want to look at human history to determine what are traditional stores of value. I suppose you might find a lost tribe in outer Dumbozia that considers turds to be a store of value, but pretty much everyone else in the world considers gold, silver, diamonds, precious stones, art, and certain collectibles to be stores of value. Some are more liquid than others. I tried to make this short so you wouldn't waste too much of your life reading it.

I think your answer is pretty Ignorant. First off, you quoted me without answering directly to what I even said.
Originally Posted by MinnesotaORnewbie

So in the days of SHTF, or even in just a mild country wide termoil, why will Gold be worth more then my every 10 year red turd weighed in Kernals.
There I was talking about SHTF, not in history what people put place of value on. Anything is worth something. Somethings like gold, silver, art have held a pressumed value. That is what someone else will pay for it. SO as the quoted part of my post asked, ...during the SHTF, will gold be worth more then my turd .... I personally have not packed or started prep for the SHTF. I nor have bought gold, silver before or after the new price and sale frenzy. Two of my siblings are stock traders for large firms. I have thought about investing some in metals, against their advise, and still came to the conclusion: If the markets crashed, the U.S. dollar crumbled, and looting and self accountability began, What could I do with gold and silver?
At first, if things were not to an extreme, We could get on a plan and fly to a country that was stable, maybe. First we would have to find a buyer and probably take a loss to exchange the gold for what ever currency was being excepted. But what if only the franc was being used at the moment, who and the **** has francs ready for exchange. Would this take too much time, the weight of the gold would not help neither. What about if the area (portland) was not stable, who is going to take gold when panic and first thoughts are going on? I wouldn't. So then you would have to wait it out. Say two weeks go by and you survived with your family. The rest of the world would surely follow. If one global market crashes, it would have a huge effect on the rest of the world. I mean, some were worried about Greece falling. Well if the U.S. fell, it would be about 30 times worse. Go back into the situation after three weeks and other countrys are starting to go through the same effects. What is gold, silver, diamonds, or art going to do, or be worth. Hey, I will trade you this Picaso for three gallons of gas. I would probably rather have a red turd then a picaso, gold or silver.
I hope you can see where I am coming from EZ and Was not at all trying to pick back at you. This is a real account of a possible situation, IF you believe the SHTF could happen some day.

 

[nubus]

Well as to gold never going down BULL.. It was up to 1900.00 on the 5th of Sept. About the 1st of Oct it was down to $1598.00 and now today its back up to $1704.00


So if you bought around the first week of Sept your investment has lost roughly $200.00 an once.

Compare buying gold, or silver, 3 years ago vs. today to anything else available.
Short of a few stock anomalies it's been among the highest paying tickets around.
They have both doubled, if you bought in Sept. and are worried about a loss In Oct. you're playing the wrong game.

 

[Mark W.]

Compare buying gold, or silver, 3 years ago vs. today to anything else available.
Short of a few stock anomalies it's been among the highest paying tickets around.
They have both doubled, if you bought in Sept. and are worried about a loss In Oct. you're playing the wrong game.

YES but my point is UNLESS YOU BOUGHT 3 years ago it's not that great of a deal. They are hawking the crap on the radio all day long. Which means they want the pyramid to keep growing. The price goes up because demand goes up. LIKE PRIMERS AND POWDER AND .380 ammo when all the sky is falling types thought Obama was taking our guns away.

I'm not even mentioning the discount you get hit with if you try to sell the stuff. Well unless you find another Smuck to pay going rate. The dealers will cut you 20%+

 

[Burt Gummer]

No one has jumped out a Wall St window because their gold went down. Gold/silver is not the end-all. There are many more important things. It is simply BETTER than paper wealth as we are surely going into the greatest inflationary depression. Not a difficult concept.

Those that realize the printing presses have pumped out more 'dollars' since 2005 than the entire history of this country prior to 2005 may have a clue that the dollar is doomed.

Fascinating that some find it necessary to bash gold. Gold was here and worth something for five thousand years and will be worth something after we are all dead. The dollar is the third currency of the USA. It is a fiat currency (backed by nothing). Every single Fiat currency on planet Earth has failed historically. Fallen to ZERO, without exception. When the dollar is removed as the world's reserve currency and/or the derivatives market implodes the dollar will be deemed worthless.

The ratio of REAL physical gold to paper gold is about 100/300:1. Paper is a ponzi.

Those that have a chip on their shoulder about people that own gold please start a savings account at J.P. Morgan Chase and start saving dollars. If you think dollars are a great investment even though they have lost 94% of their value since the Fed Fraud of 1913, go for it. Surely it won't slide to -0- .... Ask a Zimbabwean if he'd rather have a tiny speck of gold or a huge stack of bills.

 

[MinnesotaORnewbie]

I agree Mark, to me it is kind of a dead giveaway when like you said, news channels have gold ads, radio, internet, everywhere. Why? Because it is popular, the idea is that it is hot and everyone needs to get in now. The dealers are the ones making money. Not much, but after alot of sales, they see larger profits. They are buying it from people that want to get out or sell now for a discount on spot price. Then sell for a increase, so they are making money two times. Yet, the individual will eventually get stung twice compared to the spot price, buying it and eventually selling it. Everything that inflates at a large ratio eventually burst. Housing market, stock market, large corporations - enron- some banking firms - history does tell us that. The increase in interest in gold also has started a new gold rush for not only individuals but large companies are getting into it and looking and mining in places never able to be mined before. Adding more product to the demanding interest. what does history and economics tell us, price will go back down.
That all said, being, People have said, this element is Valuable. More or less compared to what in the future is the question.

 

[civilian75]

I think you got the right idea. My rule of thumb now is the louder sellers scream how now is the time to buy, the more will I ignore them. To make money, or at least reduce the chances of losing it, you got to go in the opposite direction the masses are going, and with a very long term perspective. Gotta get in before the hype is at its highest. I have invested in several instruments over the years and have gotten burnt enough times to speak from experience.

There is always something in vogue. Remember how only a few years ago buying a bigger/better/newer house and mortgaging your future to the hilt was a "smart investment"?

The smartest investments anyone can make are: 1) education, 2) "Instead, put away riches for yourselves in heaven. There, moths and rust do not destroy them. There, thieves do not break in and steal them." Mt 6:20

 

[Burt Gummer]

"The dealers will cut you 20%+"

Just where do you get this nonsense? If you buy a Canadian Maple Leaf at Ampex for $1,790.39 their buy back is $1,738.40. A very small bid/ask margin.

The TV and radio have ads spewing forth their crap because they want to buy gold at ridiculous pricing and there are people ignorant enough to trade their jewelry/whatever for paper. They are trying to get you to sell, not buy.

Have fun spewing this ignorant nonsense. Maybe someone you hate owns gold? I don't get it but you are misinformed and acting juvenile about the subject. Good luck.

 

[MinnesotaORnewbie]

noisycow, Just so you know, I am not bashing anyone who owns gold. you do have very valid points and I do agree at this point in time, gold is a valuable asset. yet, I personally would not invest in it because I do not see a future in it. Anyone including me would have been a genius if they invested in it starting many years ago and kept at it. Just like any investment, and some forms of gambling, as the stock market is to many, the key would be to sell now and count your blessings. Take the paper value and in turn either purchase goods and resources, pay off any debts, further your family's well being, what ever, but in the end, gold maybe worth something, but It simply will be nothing but a heavy shiny rock eventually.

 

[Gunner3456]

Gold and silver are not for speculating. They are not for investing, at least not for me. They are for preserving excess money over the long haul.

I sure as heck wouldn't borrow money to buy them as if they were going up in value.

I have NO faith in our paper money and believe inflation will destroy its value as the Fed runs the printing presses.

 

[Burt Gummer]

.. and the dollar will do better or is safer? What exactly is a better store of wealth? I am talking about as an alternative to cash here, not saying gold is better than food, water, shelter, tools, defense, escorts.

If you dislike gold as a protector of wealth that is fine. What I take issue with is just the incorrect statements regarding buying/selling gold, that radio ads are hyping gold (90% are parasites trying to give paper for gold), etc.

Personally, I am not a gold bug; if I like PMs it would be silver or platinum. Mostly I am anti-paper because I know the banksters are destroying what is left of the US economy with their paper ponzis. Fort Knox hasn't been audited since the 50s because the same slime emptied all that out long ago and left us holding monopoly money. If you care to learn about that watch the 1996 video documentary "Money Masters". It really lays it out and why our monetary system is on a slow course to death.

 

[Burt Gummer]

They are for preserving excess money over the long haul.

100% correct! Preserving wealth may be a better term, but I totally agree. There WILL be a day coming when the banks will lock their doors on their customers and people will only be allowed little tidbits of cash while the dollar slides into death. That I am 100% sure about. Why? Because since 2006 the crooks already have a term for it. "Bank Holidays" That will really be the time people will wish they didn't put faith in the banksters and their Fed debt notes. The dollar will face super or hyper-inflation beforehand. What you are seeing at the grocery store is a precursor to that; what the boob corporate-tube will not tell you.

 

[Brown Trout]

Everything that inflates at a large ratio eventually burst. Housing market, stock market, large corporations - enron- some banking firms - history does tell us that. The increase in interest in gold also has started a new gold rush for not only individuals but large companies are getting into it and looking and mining in places never able to be mined before. Adding more product to the demanding interest. what does history and economics tell us, price will go back down.
That all said, being, People have said, this element is Valuable. More or less compared to what in the future is the question.

What makes you think that the market is inflated with gold?

 

[MinnesotaORnewbie]

in that quote, I did not write that exact phrase, I was meaning the value of the such things, not that the market is inflated with gold, that was not said. sorry if you misunderstood. its late and some times I type fast and wording may not be exactly what was in my head at the time.