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Old 05-15-2010, 11:08 PM   #21
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So have you looked at this thread on what to do about inflation ?
going there now. thanks for the link
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Old 05-15-2010, 11:11 PM   #22
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is that the same supreme court that just declared that corporations are protected under the bill of rights? which allows them to contribute UNLIMITED amount of money to political campaigns...

i rest my case.
Whether you or I like it or not, for over 200 years, since Marbury v. Madison, the Supreme Court has decided what is and what is not constitutional. Paper money is constitutional. Whether we are in for a bout of inflation is an entirely different question.
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Old 05-15-2010, 11:14 PM   #23
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By golly - reminds me of 1999 all over again. Still have the gold coins we bought back then. I don't see much harm in setting a little food by, having the odd coin to sew into the hem of my coat, that sort of thing. Not going to put much of the stash in it though - gold, for me, is with the rest of the bug out and head for the Jeremiah Johnson life supplies. Not the way I plan to live my life.
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Old 05-15-2010, 11:18 PM   #24
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Whether you or I like it or not, for over 200 years, since Marbury v. Madison, the Supreme Court has decided what is and what is not constitutional. Paper money is constitutional. Whether we are in for a bout of inflation is an entirely different question.
scotus is nothing but a pawn - whether you like it or not.

come on -- the bill of rights was NOT written for corporations. if that doesnt wake us up, nothing will.

and when they put it to us good -- it's always by the slimmest of margins - just passed, by one vote. it's a charade.
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Old 05-15-2010, 11:19 PM   #25
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By golly - reminds me of 1999 all over again. Still have the gold coins we bought back then. I don't see much harm in setting a little food by, having the odd coin to sew into the hem of my coat, that sort of thing. Not going to put much of the stash in it though - gold, for me, is with the rest of the bug out and head for the Jeremiah Johnson life supplies. Not the way I plan to live my life.
what's done better since 1999 - gold or stocks/bonds?

congrats on the great buy on gold in 99! you were way ahead of me.

as paper currencies are overprinted, gold's price will appear to rise. what's really happening is the paper is getting devalued.
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Old 05-15-2010, 11:29 PM   #26
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I just sold several of my krugerrands, love it when prices are high. I don't see much need to hold gold coins or any form of gold aside from, maybe, a diversified commodity fund.
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Old 05-15-2010, 11:32 PM   #27
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on my home board we had this debate raging for a looong time. the deflationists have buckled. if the greatest crash since the great depression couldnt overcome the money printers (and cause deflation)....what can?

with that being said, it's never smart to go all in for either -

but almost everyone has dollars as their savings -- only betting on deflation. this is a highly aggressive bet on deflation - when history has shown that rising prices dominate.

a precious metals savings account balances out your cash savings account - you are betting on both sides then.
I do own some physical gold and silver to provide some protection against inflation. I bought when gold was around $350/once and silver was around $10/once. There is no way I am buying at the current prices. People love gold today just as much as they loved real estate in 2006 and tech stocks in 1999. I actually sold some of my gold recently to lock in some profit.
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Old 05-15-2010, 11:48 PM   #28
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Personally, I am more concerned about deflationary forces right now. Governments are set to raise taxes and cut spending around the world (in response to rising deficits).
Raise taxes yes, but it will be a cold day in hell when they spend less. Maybe back down a bit from the incredible pace of the last 18 months, but the trendline of spending will continue upward, as it always has. The last time we had a budget surplus not depending on phony SS accounting was during the first Eisenhower administration.


We cannot have deflation, regardless of what the economy wants to do. Dr. Ben, the Little King, and El Presidente will just start throwing money again, at everyone but me.

Ha
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Old 05-16-2010, 12:01 AM   #29
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what's done better since 1999 - gold or stocks/bonds?

congrats on the great buy on gold in 99! you were way ahead of me.

as paper currencies are overprinted, gold's price will appear to rise. what's really happening is the paper is getting devalued.
I bought gold and gold stocks near the bottom between $280 and $300. I sold a few years ago; too soon it appears but I like the early part of a trade. You won't get killed falling from a basement window.

I also agree with you that inflation is very likely, and that bonds are quite likely to do poorly. The trouble is that TIPS have a low coupon, and with gold you may do well or you may just get your head ripped off. Gold is no more money than cowry shells are, it might be nice if it were but at present the utility value is a small part of its price.

This is not a good time be be an investor or a retiree, because success almost requires a speculative mindset. But along with this comes chances for bigtime failure.

Ha
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Old 05-16-2010, 12:21 AM   #30
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The bond market seems pretty unconcerned with its ineluctable slaughter by inflationary forces.
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Old 05-16-2010, 01:06 AM   #31
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The bond market seems pretty unconcerned with its ineluctable slaughter by inflationary forces.
just like the stock market topping in 2007 -- the buyers then weren't concerned with a pending economic collapse. what some idiots are buying is no indication of future performance or prices.
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Old 05-16-2010, 01:08 AM   #32
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I bought gold and gold stocks near the bottom between $280 and $300. I sold a few years ago; too soon it appears but I like the early part of a trade. You won't get killed falling from a basement window.

I also agree with you that inflation is very likely, and that bonds are quite likely to do poorly. The trouble is that TIPS have a low coupon, and with gold you may do well or you may just get your head ripped off. Gold is no more money than cowry shells are, it might be nice if it were but at present the utility value is a small part of its price.

This is not a good time be be an investor or a retiree, because success almost requires a speculative mindset. But along with this comes chances for bigtime failure.

Ha
congrats on the gold move. great entry.

gold = shells? i'll take the other side of that opinion.

but this begs the REAL question - what IS money? it's not a federal reserve note, that's for sure.
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Old 05-16-2010, 01:09 AM   #33
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just like the stock market topping in 2007 -- the buyers then weren't concerned with a pending economic collapse. what some idiots are buying is no indication of future performance or prices.
Ditto with gold.
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Old 05-16-2010, 01:13 AM   #34
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I do own some physical gold and silver to provide some protection against inflation. I bought when gold was around $350/once and silver was around $10/once. There is no way I am buying at the current prices. People love gold today just as much as they loved real estate in 2006 and tech stocks in 1999. I actually sold some of my gold recently to lock in some profit.
gold = tech and RE? not even close. yet.

the masses were lusting after both of those bubbles. gold and silver are still lurking in the shadows with scant public participation = the bubble hasn't even begun.
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Old 05-16-2010, 01:23 AM   #35
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gold = tech and RE? not even close. yet.

the masses were lusting after both of those bubbles. gold and silver are still lurking in the shadows with scant public participation = the bubble hasn't even begun.
Have you heard of neighborhood gold parties? My local jeweler is now a gold coin dealer. Gold 4 cash stores popping all over the place, including at my local mall, right next to a Pottery Barn (how more mainstream can you get?). "Gold Shows" going from town to town. And forget about the internet, "buy gold now" ads everywhere. I think you would have to live under a rock to be unaware of the latest gold craze...
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Old 05-16-2010, 01:50 AM   #36
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Have you heard of neighborhood gold parties? My local jeweler is now a gold coin dealer. Gold 4 cash stores popping all over the place, including at my local mall, right next to a Pottery Barn (how more mainstream can you get?). "Gold Shows" going from town to town. And forget about the internet, "buy gold now" ads everywhere. I think you would have to live under a rock to be unaware of the latest gold craze...
that is the masses SELLING, not buying. i totally agree with your theory - it just hasn't arrived yet. when the common folk are buying gold because its going up -- then we are topping.

and do you really think those trailer park trinkets for meltdown matter to the gold market?! not.

i can see right now we are going to have a lot of fun.

deflation and gold has topped versus inflation and gold is on a long upward trajectory.

another one slapping us in the face - look at the title of this thread. the lack of gold threads tell the tale..
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Old 05-16-2010, 03:25 AM   #37
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....

the reception isn't what i expected.
Rabbit ears?
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Old 05-16-2010, 06:20 AM   #38
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Rabbit ears?
yep, rabbit ears + acerbic first two (plus you) replies to my thread
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Old 05-16-2010, 07:17 AM   #39
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Article 1, Section 10, Clause 1

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Are we talking about "Form of Payment" or "Real Money"?

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Main Entry: mon·ey
Pronunciation: \ˈmə-nē\
Function: noun
Inflected Form(s): plural moneys or mon·ies \ˈmə-nēz\
Usage: often attributive
Etymology: Middle English moneye, from Anglo-French moneie, from Latin moneta mint, money — more at mint
Date: 14th century
1 : something generally accepted as a medium of exchange, a measure of value, or a means of payment: as a : officially coined or stamped metal currency b : money of account c : paper money
2 a : wealth reckoned in terms of money b : an amount of money c plural : sums of money : funds
3 : a form or denomination of coin or paper money
4 a : the first, second, and third place winners (as in a horse or dog race) —usually used in the phrases in the money or out of the money b : prize money <his horse took third money>
5 a : persons or interests possessing or controlling great wealth b : a position of wealth <born into money>
for one's money : according to one's preference or opinion
on the money : exactly right or accurate
Money - Definition and More from the Free Merriam-Webster Dictionary
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Old 05-16-2010, 07:43 AM   #40
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Oh wow. What a nice way to refer to my broken jewelry, class ring, Phi Beta Kappa key, etc.

You are clearly passionate about raising other people's consciousness about inflation. I'm on your side, as far as inflation dangers are concerned, and I wish I knew whether to sell my "trinkets" now, or see ifthe price goes up. I just don't appreciate being talked down to. We ignorant masses have feelings, you know.

Amethyst.

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.

and do you really think those trailer park trinkets for meltdown matter to the gold market?! not.

..
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