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Gold’s worst start to a year in a quarter century and the biggest sales by investors on record are increasing concern that bullion’s longest rally since the end of World War I is ending.
This post was edited by TrapperGus 12 months ago
Lurking on tRCMB since 1996
Gold prices never go down.
We can tell
So your investment philosophy is to sell when a market goes down?
For those of you that invest in gold, how do you do it? Do you purhcase and take possession of the gold or do you buy gold related stocks or invest in shares of an equity that is tied 100% to the commodity or what?
I am a little interested in investing but don't want to have to figure out how to store it safely. What do you recommend?
You don't want physical unless your a Doomsday Prepper
That's a pretty good time horizon you have there. Good argument you put up.
You should never invest in any gold equities. There is doubt as to whether or not the gold is actually there or if the same gold as been rehypothecated several times over. You want to buy physical gold so there is no counter party risk. As far as storage goes, you can do any number of things....get a safe, bury it, store it at a storage company, etc, etc Part of your storage decision will depend on how much you own. The more you own, the more you may want to store it in several different ways.
This. Jus turn one of your houses into a bunker complete w/ a moat, a trap door, disappearing stairs and falling anvils! Keep your gold next to your seeds, ammo and bibles. Good luck!
P.S. TRUST NO ONE
You're wasting your breath, 100% of all Wells Hall Conservatives are millionaires. This stuff wont effect them, they can just live off the interest of their millions in other investments.
You forgot the alligators in the moat.
Good advice. One note however, you may not want to bury your doomsday survival seeds in case they prematurely start sprouting. Also adding lead shielding to your concrete bunker can be effective in reducing government mind control signals.
If you would rather ignore all of human history and believe that federal reserve notes are a lasting form of wealth that you can always count on for purchasing power, then by all means have your fun mocking me. You're going to be the one losing most if not all the wealth you have ever earned in your life.
This post was edited by Compound 2 13 months ago
if federal notes ever become worthless, you're going to be too busy to enjoy that gold. it's not very nutritious and it doesn't really fit in a gun.
I don't know what that even means
I'm sure they won't ever become worthless. I mean, just because they are digitizing > 1 trillion of them a year right now and just because we have endless zero percent interest rates and just because the debt is going to the moon, I'm sure everything will end up just peachy.
I think what he's saying is that investing in guns, ammo, and food harvesting/planting equipment is a smarter investment to prepare for your post apocalyptic world than is hording pieces of metal that would have few practical uses other than hurling them at the roaming gangs of armed bandits that have come to take your stuff.
Well, I never said that world is coming to an end. I simply said that federal reserve notes are going to lose a substantial amount of purchasing power. Now if somebody does believe the end of the world is coming, they certainly could choose to stock up on many other things as well. I never claimed that gold has any utility....at least not beyond some jewelry and some other minor uses. Gold is however money and it's kind of absurd to believe that the dollar is going to be the only fiat currency in history to not become worthless, especially when you see our exploding national debt and the way the FED is debasing the dollar.
"Gold is money, everything else is credit" JP Morgan - testifying to congress 1912
That's the whole point. The people touting gold, in general are betting that the economy and the dollar will totally collapse. Gold had an extraordinarily good run, but that run is likely over, and if it's a pure investment for people, they will sell. If it's the currency of last resort for some people who think they'll be trading gold for pots and pans in the not too distant future, they will hold and lose a good deal of their money, but hey, they'll have that pretty gold to hunt, start fires, power their vehicle, and grow crops with when the impending doomsday hits. My FA has gold stocks, but no gold.
Psst. Most actual serious doomsday preppers don't store gold, even most of those nuts know it will be virtually worthless should the proverberal shit hit the fan.
Other than the fact that priced in dollars gold has gone up rather substantially over the past 12 years, can you explain your conclusion that gold is overpriced? Did you do some type of analysis to come to this conclusion or is it simply based on the fact that gold is much higher than it was 12 years ago?
I'm not sure how you can predict that a catastrophic dollar collapse that would result in all those who are not heavily invested in precious metals to lose "most if not all the wealth you have ever earned in your life" would NOT also result in worldwide apocalyptic chaos. We live in a global economy and the world runs on dollars. This is not like ancient Rome or 17th century Spain. If the US and it's dollar goes down, everyone goes down with it. There are no other currencies to replace it with or unaffected alien civilizations to do trade with. A collapse of the US dollar of the magnitude you are suggesting would certainly be an event that would rend apart global civilization as we know it. Hence the guns, ammo, and food hoarding comments that, albeit are mocking in tone, but also the logical extension of your post apocalyptic dollar collapse fantasies.
Do you really think that the world will happily transition from fiat based currencies to gold in a quick and orderly fashion in the event of a global collapse and all the people that hoarded physical gold will be sitting pretty? Even Glenn Beck doesn't believe that.
While I didn't say I DID thing that would happen, I didn't say I DON'T think that will happen either :)
I don't know how this is going to play out. I can't predict the future. I just try to be honest with myself about the reality of the situation whether I like it or not. And the reality is that the current state of our monetary system should scare us all. We have a 100% fiat based system (which has never worked in history), deficits that are going up parabolically, quantitative easing since 2008, zero percent interest rates for a number of years now, etc, etc. Our entire monetary system almost collapsed in 2008. Nothing since that time has been changed on any fundamental level. If anything, there is probably now more risk in the system.
As I've said before. Simply read a book about financial history (something like "The Ascent of Money" is an easy read). Then just honestly look at the major changes our own monetary system has undergone since 1933. First, US citizens were no longer allowed to redeem their currency for gold. Then they remove all silver from our coins in 1965. Then in 1971, Nixon takes closes the international gold window. Then our deficits (naturally) start to really take off. With no gold or silver constraining anything, credit expands rapidly. Then our entire monetary system almost collapses in 2008. Since then we've been looking at unlimited money printing, endless quantitative easing, unsustainable deficits, etc, etc. I don't think it takes a genius to figure out that we are reaching the endgame of our expanding credit. One just has to be honest with themselves and do their homework. Bill Gross (the world's bond King) understands this.
Hey, I hope I'm wrong. But as I said, anyone who does their homework, reads monetary history, and is honest with themselves is likely to form the same conclusion: The United States is approaching the endgame of it's current monetary system. Credit can not expand forever. There is going to be major pains and adjustments to as we transition to whatever the new system is.
In what may be his most apocalyptic monthly letter in a series that for years now has been explicating the “new normal,” Gross says that America’s money economy is like a supernova—a bright shining star that suddenly burns out.
"dollar will collapse!" "inflation will go through the roof!" "Stay away from US Treasuries!"
Hmm... where have I heard that before? Oh yeah, same guy who was dead wrong with these exact same predictions 2 years ago.
Because he kept the $245-billion Pimco fund largely out of Treasuries until recently, Gross missed out on the rising market value of older fixed-rate Treasuries as rates on new bonds fell.
“Do I wish I had more Treasuries? Yeah, that’s pretty obvious,” Gross told the FT.
Bond market guru Bill Gross is telling his investors what many of them already know: He made the wrong call on U.S. Treasury bond interest rates this year, and that has cost him dearly in his renowned Pimco Total Return...
Make sure the gold is denominated if you take it out of the country and store it out of the reach of the feds. The U.S. only looks at face value, not actual gold content when determining how much cash you're taking with you.
The negative sentiment on Gold in this thread only reassures me we are still very early in the Gold bull market. I'd be MUCH more concerned if all of you were touting your latest Gold purchase and how it was on its way to the moon. Because in that case I would be selling. Much like a thread earlier this year on Apple as it hit 700+ and everyone was talking about 1000. We know what happened next.
Twelve straight years Gold has gone up and just about everyone here hates it as an investment. It really is an amazing thing if you think about it. It has vastly outperformed all other major paper assets over that time and will continue. China, India and Russia know it, as does most of the Far East, Middle East and Eastern Europe, where gold purchases by citizens and central banks are doubling year over year. Wealth is moving away from the US, but Americans are just too blind to see it. They would rather own government debt at the highest prices ever (what a joke! Debt in a country that will default or pay it off in devalued dollars). So many believe what they are told, and in how exceptional the US is, that they follow media and Wall St. marching orders and invest in stocks and bonds.
BTW, the Soros story is about him dumping paper gold in an ETF. Rumors are abound that he had the paper position as a hedge against his physical purchases. Physical purchase of both gold and silver are at record highs.
This post has been edited 3 times, most recently by ChicagoMark1 13 months ago
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