I don't agree with you're not agreeing with that. Gold price of the moment is just another bubble.
Gold broke $1200 today
- Thread starter guerilla
- Start date
Yes, it is a dollar bubble, not a gold bubble. That is why the price of gold denominated in dollars goes up, but the price of dollars in gold goes down.
The fundamentals are there for a bull market in gold, and the fundamentals lean more towards gold every day.
I am not a gold bug. If it goes down, it goes down. I simply want to be on the winning side of any such trade, and right now, the odds favor gold substantially.
But...it's endorsed by that scammer G. Gordon Liddy and advertised to the uneducated masses!
WTF?!! I was TAGGED and don't remember!! Lulz
Alright, who the hell did I grope now?!!
I'm away for awhile and come back to see that I have been tagged!! (Midas Touched Me. ) LOL
BTW, "where" did I touch them.
Damn!! I missed this place.
Alright, who the hell did I grope now?!!
I'm away for awhile and come back to see that I have been tagged!! (Midas Touched Me. ) LOL
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circaspace, dollarspace, global warming, golden shower, goldspace, [B][COLOR="DarkOrange"]midas touched me,[/COLOR][/B] schiff inflates gold, sumitspaceBTW, "where" did I touch them.
Damn!! I missed this place.
Gold bubble?
I have to disagree too.
Gold is manipulated as any other asset that´s traded today - but if you´ve understood the current monetary system(s) you´d know that those are the bigger illusions.
They are simply backed with little to nothing of real value.
Besides that - no asset is going up straight so it could well be that gold is due to a (short term) correction... it is overbought and the Fed has reduced it´s monetary output(M3) a lot compared to August 2008.
Bought silver in dec. 2008 which made me a whopping ~100% so far - and I´m convinced that it´s still a greater opportunity to invest in than gold.
Silver is an industrial metal and it´s normally not recycled! Furthermore there are almost 0 new silver deposits found nowadays..
just my opinion
@subigo congrats to your dad... wise decision
I have to disagree too.
Gold is manipulated as any other asset that´s traded today - but if you´ve understood the current monetary system(s) you´d know that those are the bigger illusions.
They are simply backed with little to nothing of real value.
Besides that - no asset is going up straight so it could well be that gold is due to a (short term) correction... it is overbought and the Fed has reduced it´s monetary output(M3) a lot compared to August 2008.
Bought silver in dec. 2008 which made me a whopping ~100% so far - and I´m convinced that it´s still a greater opportunity to invest in than gold.
Silver is an industrial metal and it´s normally not recycled! Furthermore there are almost 0 new silver deposits found nowadays..
just my opinion
@subigo congrats to your dad... wise decision
The dollar is crashing.. gold and stocks have been going up recently but the dollar is going down. Whether or not gold is in a bubble, it's probably a good time to get some of your money out of dollar-denominated assets.
Eventually gold will find its ceiling price and start to decline BUT unlike government-backed currencies which are essentially IOUs, gold is always going to have some kind of monetary value in human eyes just by its nature of being shiny and pretty. It has been a valid form of currency in one form or another for centuries despite the rise and fall of nations.
If Obama's war deals the final blow to the US's faltering economy and the dollar joins the peso as LOLmoney then I wouldn't be surprised to see gold prices at $1,800-$2,000+ per ounce as more people around the world dump their dollar investments for gold.
Also worth noting that if the dollar tanks it is going to bring others down with it as many foreign governments have their nations' money tied up in US bonds which will devalue greatly (obviously). China will really take it up the ass if the dollar flops...say hello to $500 chopsticks.
Buying into anything at it's all-time high is speculative.
You are right w/r/t it's relationship with the dollar- Gold will continue to rise until the central banks defend the U.S. dollar (historically 80% of the time gold trades inversely to it) and we know that won't happen soon.
I am simply saying that when it starts getting pushed to the masses as a core holding, it's ripe to inflate artificially- no different than when noobs start bidding up prices on a keyword term. The G. Gordon Liddy et al. ads remind me a lot of the 'No Money Down Mortgage' ads of the 03-05 era in terms of both rotation and audience selection.
If you still think that buying in high is a good investment, at least steer clear of GLD. The same bank that holds the bullion for this fund is also the biggest short for gold in the COMEX.
Edited to add: My ROTH contributions this year are very heavily invested in USAGX, but I put in my $5k max back in January. I wouldn't increase my holdings now.
You are right w/r/t it's relationship with the dollar- Gold will continue to rise until the central banks defend the U.S. dollar (historically 80% of the time gold trades inversely to it) and we know that won't happen soon.
I am simply saying that when it starts getting pushed to the masses as a core holding, it's ripe to inflate artificially- no different than when noobs start bidding up prices on a keyword term. The G. Gordon Liddy et al. ads remind me a lot of the 'No Money Down Mortgage' ads of the 03-05 era in terms of both rotation and audience selection.
If you still think that buying in high is a good investment, at least steer clear of GLD. The same bank that holds the bullion for this fund is also the biggest short for gold in the COMEX.
Edited to add: My ROTH contributions this year are very heavily invested in USAGX, but I put in my $5k max back in January. I wouldn't increase my holdings now.
I'm saving enough gold to eventually trade someone for a farm.
Do this....
1. Go to bing.com and search "auction" and click the ebay ad for the bing cash back
2. Use buy-it-now on gold coins and bullion with paypal cash back = under spot price
3. ?????????
4. PROFIT
Do this....
1. Go to bing.com and search "auction" and click the ebay ad for the bing cash back
2. Use buy-it-now on gold coins and bullion with paypal cash back = under spot price
3. ?????????
4. PROFIT
I'm invested in paper gold and have made some nice money with it so far. I've been putting in strategic stops as the price moves up, and withdrawing money.
Right now there is so much speculative money around, as well as average joes concerned about their money, gold price is highly unlikely to fall. Hedge funds are moving more and more money into gold, and I also think it's no surprise that gold surges almost every day when the hong-kong market is open, I wonder what is happening there
The biggest thing I am scared of is the financial institutions that back the paper gold suddenly failing (like when paper silver was backed by AIG and they were going bust - for a few days paper silver was worth nothing).
I find this pretty unlikely to happen right now though, the financial institutions have just hung onto their bailouts, and are pretty liquid right now.
Also, since I am withdrawing some of my profits every day, even if something does crash, I already have most of my profits in my bank account.
Right now there is so much speculative money around, as well as average joes concerned about their money, gold price is highly unlikely to fall. Hedge funds are moving more and more money into gold, and I also think it's no surprise that gold surges almost every day when the hong-kong market is open, I wonder what is happening there
The biggest thing I am scared of is the financial institutions that back the paper gold suddenly failing (like when paper silver was backed by AIG and they were going bust - for a few days paper silver was worth nothing).
I find this pretty unlikely to happen right now though, the financial institutions have just hung onto their bailouts, and are pretty liquid right now.
Also, since I am withdrawing some of my profits every day, even if something does crash, I already have most of my profits in my bank account.
I've read a few economics papers that suggest the value of gold has changed exactly proportional to the deflation you'd expect from increased production of "stuff".
That is the store of value argument, in any period of history, an ounce of gold bought you a nice suit, tie and shoes.
Obviously that's a long-term thing. This is just government instability/fears of inflation driving up nominal gold prices.
That is the store of value argument, in any period of history, an ounce of gold bought you a nice suit, tie and shoes.
Obviously that's a long-term thing. This is just government instability/fears of inflation driving up nominal gold prices.
what nobody is realizing is that no government will let you undermine it's power by building up your gold/silver reserves.
Pretty soon it will be illegal to hold gold/silver, and the digital fiat currency will be the only currency allowed. You won't be legally allowed to buy/sell gold/silver other than for industrial purposes.
Every time the banking/monetary system was under threat by other independent currency systems there was a war or show of force to drive everybody back under the established fiat system.
Pretty soon it will be illegal to hold gold/silver, and the digital fiat currency will be the only currency allowed. You won't be legally allowed to buy/sell gold/silver other than for industrial purposes.
Every time the banking/monetary system was under threat by other independent currency systems there was a war or show of force to drive everybody back under the established fiat system.
*cough*
http://www.wickedfire.com/shooting-shit/66400-buying-gold-coins.html
feeling pretty good about my gold and really good about my silver right now.
http://www.wickedfire.com/shooting-shit/66400-buying-gold-coins.html
feeling pretty good about my gold and really good about my silver right now.
as long as the interest rates are zero, i cant see how gold goes down. money has never been this "cheap"
Silver, historically, has been much more volatile than gold.
And it isn't just the USD, but most currencies against which gold is increasing. Its just happening at a faster rate against the USD versus most other currencies. Look at a day like today, where the USD Index increased (stronger USD) yet gold still went up.
Interesting article if you follow gold: Kitco - Commentaries - Gary Dorsch
The world banking system all but failed with the mortgage implosion and "legal" derivatives scams (which are still legal, btw). The US spent billions to prop up the failed banks rather than reinvesting into something that would provide a more immediate result for people such as infrastructure improvements or anything else that would keep unemployment down.
Now they get excited when they see minor blips in stock prices or indexes and think the economy is "bouncing back" but IMO it's just setting up for a backlash. Just think, if China decides to pull their money out of the US it will render the dollar worthless.
Hoarding of gold or other precious metals is the least of a government's worries when you look at all that is really at stake.
Right, and politically, it is suicide to raise rates so you can expect them to stay low for quite some time.