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Re: Gold as Safety
Old 12-16-2005, 03:32 PM   #61
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Re: Gold as Safety

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
Ultimately, it* comes back to gold as the preferred storage medium of work.* One oz of gold represents a set of decent clothes or thereabouts--sometimes more, sometimes a less.* Gold wins by default.* My bet is that the default system returns.
So you believe that the fiat currency system fails and we return to gold as a medium of exchange?

Let's consider the implications:
1) The entire world wide financial system shuts down
2) Without a currency of exchange all work ceases, which means the delivery trucks stop delivering food to supermarkets
3) Panic ensues, complete with global rioting and looting
4) After the meager existing supply of food in most cities is depleted, mass starvation

And in the midst of this chaos you plan to do what, exactly, with your gold?

You'd be better off hoarding bullets and MRE's.
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Re: Gold as Safety
Old 12-16-2005, 03:46 PM   #62
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Re: Gold as Safety

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Originally Posted by Apocalypse . . .um . . .SOON
Adding value to something by just flipping it, kind of like during the tulip craze, can't last very long--and it bears similarities to our current RE bubble.* Oh boy, free money:* buy a house, hold a house, sell a house.* One could call such things "bubbles in process"--in a general, vague sort of way, when people start making money without putting much effort or thought into it.*
Hmmm, sounds like gold to me.* * In fact, some have claimed the recent sell off in gold is attributable to increased margin requirements on the COMEX designed to limit speculative buying.*

Yup, sounds like you're buying a bubble in the name of a defensive investment.
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Re: Gold as Safety
Old 12-18-2005, 08:58 AM   #63
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Re: Gold as Safety

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Originally Posted by ((^+^)) SG
Not to me, Greg. That just means you are 90% right about something.
SG: I see your point. You have turned me on my head and put it . . . um . . . somewhere else. This has made me a better different man .

So, I think we should start a new race of sub-humans. When the darkness comes, we could walk around and knock on people's doors. When If they answer, we could ask to use their bathrooms. We would be called The Toilet Zombies.

And like the Japanese who established the Empire of the Sun, we too could start an empire, the Empire of the Swirl. So, do you want to be the leader? I don't think we'll have a enough participation to have elections.
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Re: Gold as Safety
Old 12-18-2005, 09:04 AM   #64
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Re: Gold as Safety

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
So, I think we should start a new race of sub-humans.
Too late. Nords and his Navy buddies beat you to it.


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Re: Gold as Safety
Old 12-18-2005, 09:58 AM   #65
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Re: Gold as Safety

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Originally Posted by REWahoo!
Too late.* Nords and his Navy buddies beat you to it.


"sub-humans" Good one I almost missed it sandwiched in with
all the other good posts.

JG
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Re: Gold as Safety
Old 12-18-2005, 10:02 AM   #66
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Re: Gold as Safety

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Originally Posted by Apocalypse . . .um . . .SOON
* We would be called The Toilet Zombies.*

*
There is already a group more deserving of that name.
Presently they call themselves Democrats.

JG

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Re: Gold as Safety
Old 12-18-2005, 12:22 PM   #67
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Re: Gold as Safety

Wait, one more story about Depression era coin hording. My grandfather saved small coins (mostly silver) obsessively for years. For safety, he buried the loot somewhere on his property. Then he died without telling anyone where he hid it. We went over the lot with metal detectors, no luck. Someday someone will be digging out a new pool or something and find an old Prince Albert's tin full of tarnished silver. They'll probably throw it away.

And when my dad died, we took his stash of buffalo nickles and mercury dimes down to the coin shop. The most valuablle coin, a dime, was worth four times its face value. Big whoop.
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Re: Gold as Safety
Old 12-18-2005, 12:28 PM   #68
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Re: Gold as Safety

LRS: But you just remembered an interesting story about your father and family. That's always nice--and worth more than a tin of silver.
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Re: Gold as Safety
Old 12-18-2005, 04:24 PM   #69
 
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Re: Gold as Safety

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We went over the lot with metal detectors, no luck.
Great story. You should publish it in the paper, and then charge people $10 each to come and search around the property! Finders keepers.
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Re: Gold as Safety
Old 12-18-2005, 08:39 PM   #70
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Re: Gold as Safety

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Originally Posted by MRGALT2U
There is already a group more deserving of that name.
Presently they call themselves Democrats.*

JG

That's the most positive thing I've heard someone say about a political Party in a long time. Which Party do I always hear described as sub-pond slime?

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Re: Gold as Safety
Old 12-18-2005, 08:44 PM   #71
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Re: Gold as Safety

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Originally Posted by ((^+^)) SG
Which Party do I always hear described as sub-pond slime?
Both of them...and it's an insult to self-respecting sub-pond slime!

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Re: Gold as Safety
Old 12-18-2005, 09:54 PM   #72
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Re: Gold as Safety

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Originally Posted by REWahoo!
Both of them...and it's an insult to self-respecting sub-pond slime!

Ding! Ding! Ding!
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Re: Gold as Safety
Old 12-19-2005, 02:27 PM   #73
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Re: Gold as Safety

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Originally Posted by MRGALT2U
There is already a group more deserving of that name.
Presently they call themselves Democrats.

JG

I think not JG . Although it wouldn't be far fetched to call Libertarians sub-sub-sub-humans.
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Re: Gold as Safety
Old 12-22-2005, 06:04 PM   #74
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Re: Gold as Safety

In case you're interested, Greg, here's a short discussion on another investment board: http://66.223.18.76/wwwboard/messages/131489.html
I haven't read it, but the words "gold" and "mattress" are in the topic.
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Re: Gold as Safety
Old 01-01-2006, 05:10 PM   #75
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Re: Gold as Safety

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Originally Posted by MRGALT2U
"sub-humans"* Good one * * I almost missed it sandwiched in with
all the other good posts.

JG
Did I waste this one? I could put in a smiley every time I guess.

JG
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Re: Gold as Safety
Old 01-01-2006, 09:37 PM   #76
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Re: Gold as Safety

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
LRS:* But you just remembered an interesting story about your father and family.* That's always nice--and worth more than a tin of silver.
All the things I remember about my grandfather make me smile. He taught us kids to play poker "the Maverick way" and while we were playing, he would give us sips out of his big bottle of Robitussin. Yum!
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Re: Gold as Safety
Old 01-01-2006, 09:45 PM   #77
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Re: Gold as Safety

Precious metals have been a small portion of our investments for years, and we've enjoyed the stabilizing influence.* We invest a small amount each year here, in Vanguard's fund ... a bit more in coins when the price was depressed.* We cry all the way to the bank when our friends make fun of gold.*

All kidding aside, what goes up, goes down of course, and it is not like an equity or bond investment.* But it reminds me a bit of NOLA, and Katrina ... our good, intellectual friends who made fun of our firearms and belief in the RKBA (right to keep and bear arms) began asking for our suggestions after they watched the dismal performance of 'civilization' during Katrina.

Sometimes, in very dismal markets, this allocation has been one of the few bright spots.* And, it is nice to have something looking good when the news is otherwise troublesome.

To absolutely confirm my 'nutcase' status, we also maintain a small amount of food and supplies in our home.* 'Course, these days, the Red Cross and the U.S. government are offering the same advice.* Perhaps not seen as so kooky anymore.

Precious metals are kind of a neat hold for a very small portion of the nest egg, IMHO.* To each his own.
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Re: Gold as Safety
Old 01-01-2006, 10:06 PM   #78
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Re: Gold as Safety

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Originally Posted by Charles
Sometimes, in very dismal markets, this allocation has been one of the few bright spots.* And, it is nice to have something looking good when the news is otherwise troublesome.
I have a bunch of gold and silver 1oz maples I bought in Jan '05- it was pretty fun to watch them increase over 21% throughout the year. My only complaint about bullion investing is that it's not as easy to buy/sell as other assets.... it also doesn't spawn dividends, and a lot of the 'news' you find about it is often written by folks with extreme bias. Regardless, 2005 was a good year for both of these metals.
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Re: Gold as Safety
Old 01-04-2006, 12:29 AM   #79
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Re: Gold as Safety

Wow. XAU up 6.3% today.

I love days like this.

I turn the computer off when it goes the other way.

Volatile, but kind of neat, when it's not a huge portion of the stash ... and tends to produce nice numbers when other investments are tanking.
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Re: Gold as Safety
Old 01-04-2006, 02:46 AM   #80
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Re: Gold as Safety

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Originally Posted by Charles
Wow.* XAU up 6.3% today.*
I wonder if this may have to do with the idea that the Fed has stopped or is very near to stopping its rate hikes. One thing gold loves is negative real interst rates.

I notice that the US$ was weak today also, possibly for the same reason.

Bring it on!

Ha
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