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Old 04-09-2011, 06:29 PM   #41
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"Is gold good?"

Can Catsup make it taste better? If yes, then no.
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Old 04-10-2011, 12:31 AM   #42
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I remember the last time the government shutdown. The Dow dropped to 0, airplanes fell from the sky, the sun refused to rise, and people burned their paper money to provide warmth while chewing on the precious gold bars as the only remaining supply of food.
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Old 04-10-2011, 08:27 PM   #43
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Gold is pure speculation. It does not pay any dividends. I would rather buy lottery tickets. They make as much sense.
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Old 04-11-2011, 12:25 PM   #44
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Ed, I can't believe you'd say the lottery and gold are the same. ALL stocks are pure speculation by nature.

I bought a large amount of gold at 350 an ounce. Now at 1400-1500... So, what is wrong with my investment? It has outperformed the market and I can liquidate at spot anytime I want. As long as the dollar is weak, and it will be for some time, metals are a good investment in my opinion.
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Old 04-11-2011, 12:33 PM   #45
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But are you selling it at this price or hanging on to it in case it continues to go up? Everything has a sell point and it can go down as easily as it went up - and that has happened before. They key is to know when enough profit is enough and then take some.
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Old 04-11-2011, 12:39 PM   #46
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Yes Beowulf. That is true of any investment. But to call gold a lottery ticket..well, i guess I won the lottery. I didn't buy on dumb luck, I bought based on the weakening dollar.
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Old 04-11-2011, 01:54 PM   #47
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I believe that we all like to think that we make investments for reasons other than random choices. In your case, gold was an excellent investment, as it would have been for me if I had bought gold sovereigns at $20 each in 1973. The question is whether I would have held on to them until now, which I sincerely doubt. Gold is no more a lottery ticket than any other investment - they all have varying amounts of risk.
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Old 04-11-2011, 05:19 PM   #48
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Run For Your Life

There is a way of thinking that includes keeping gold and jewels as a universal store-of-value with some portion of your assets.

Then if and when you need to flee from the invading Huns then you can flee with your (gold and jewels) and still have some wherewithal.

Try doing that with your rental house.
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Old 04-11-2011, 06:01 PM   #49
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Where would you flee to? If the US collapses economically, there won't be too many countries that are safe havens.
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Old 04-11-2011, 06:12 PM   #50
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I would flee to the heartland and hide behind a scare-crow. Either that or I'd go to Las Vegas where it's still safe.

Get out while you still can !
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Old 04-11-2011, 06:18 PM   #51
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I once read an article with colorful pictures in National Geographic, about some exotic culture where they were putting gold leaf on food for a celebration, so I think you can eat it. The article didn't say how it tasted.
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Old 04-11-2011, 06:22 PM   #52
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I once read an article with colorful pictures in National Geographic, about some exotic culture where they were putting gold leaf on food for a celebration, so I think you can eat it. The article didn't say how it tasted.
Better to drink it...

and I assure you. In this case gold is indeed good.

Quote:
Goldschläger is a Swisscinnamonschnapps (43.5% alcohol by volume or 87 proof; originally it was 53.5% alcohol or 107 proof), a clear liqueur with very thin, yet visible flakes of gold leaf floating in it.
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Old 04-12-2011, 08:56 AM   #53
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"No stems or seeds that you don't need; Acapulco gold is bada$$ weed..."
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Old 04-17-2011, 05:34 PM   #54
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University of Texas and Texas A&M are hoarding gold for their endowment fund!

From Bloomberg,
Dallas hedge-fund manager J. Kyle Bass helped advise the University of Texas Investment Management Co. on taking delivery of 6,643 gold bars, worth $987 million on April 15, now stored in a bank warehouse in New York.

“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said April 15 in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
Note: A gold bar weights 100 oz.
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Old 06-13-2011, 06:39 PM   #55
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I maintain that gold and silver miners are going to be the best investments one could make in years to come as the price of precious metals goes up (or to be more accurate, as the value of the US dollar decreases).

The dollar will stabilize once the government stops incurring continuous debts and raises interest rates much higher to combat increasing inflation in the future. I doubt that will happen for fear that we will go into a massive depression worse than the great depression.

When the Cash for Gold style companies start SELLING the general public gold, rather than buying it from them, then we are nearing a blow off bubble top in the bull market.

The trend is your friend. Good luck!
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Old 06-13-2011, 06:42 PM   #56
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The trend is your friend.
Until it isn't.
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Old 06-13-2011, 06:51 PM   #57
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Until it isn't.
The lesson here of course is to always keep an eye on your friends, as they can turn on you quickly!
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Old 06-13-2011, 10:18 PM   #58
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Ed, I can't believe you'd say the lottery and gold are the same. ALL stocks are pure speculation by nature.
I disagree. Penny stocks are speculative. Growth stocks are speculative. I am currently focusing on stocks that pay dividends reliably. I am looking for income streams at a good price. I buy to hold.

Does gold produce an income stream? After you sell it, what do you do with your windfall? Now you have the problem of reinvestment.

You are clearly a gambler, not an investor.
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Old 12-29-2011, 11:46 AM   #59
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Soros said gold bubble to burst, sold all of his holdings.

Soros Sees Gold Prices on Brink of Bear Market - Bloomberg

I bought a bit of the gold ETF GLD in 2009, and sold it way too early in 2010 for a bit of gain.

A couple of months ago, bought a bit of the gold short ETF GLL as a lark.

Made a bit of money so far, not a whole lot, but just so I can say that I put some money where my mouth is.
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Old 12-29-2011, 01:04 PM   #60
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I've been reading items about gold for years now from all sorts of financial advisers. In general, they tend to say don't buy the metal, buy the miners, so you can leverage and multiply your gains.

The other day I was amused to read a piece in the WSJ saying that for 2011, the metal was up 12% and the miners were down 16%.

Me? I bought the metal a long time ago and have held on to most of it. Huge paper profit now. I wasn't interested in the miners, just because they have been much more volatile than the metal.
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