|
|
05-17-2010, 12:45 AM
|
#81
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
|
Quote:
Originally Posted by BunsGettingFirm
Nords, I'm disappointed that you forgot to mention paying off a mortgage vs. investing.
|
I thought about it, but I'd rather pay off a mortgage than care for a bunch of gold bullion...
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
05-17-2010, 07:57 AM
|
#82
|
gone traveling
Join Date: May 2008
Posts: 3,864
|
So, should I pay off the mortgage or invest in Kruggerands?
|
|
|
05-17-2010, 08:18 AM
|
#83
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by endthefed
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.
|
If you are so wise, where were you telling us to buy gold at $400? Now that's its setting new highs everyday, you look like a spammer or a scammer, or both.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
05-17-2010, 08:23 AM
|
#84
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Having done both, I am now struggling with the question of where to bury it. And people keep pushing me to post photos of myself and my house.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
05-17-2010, 09:25 AM
|
#85
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
|
Gold thread here !
|
|
|
05-17-2010, 09:56 AM
|
#86
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,194
|
Quote:
Originally Posted by endthefed
you - As someone pointed out... money is a store of value...
are you saying that the federal reserve note is a store of value?
the supreme court is a puppet of corporate interests.
|
Yes... a federal reserve note is a store of value
Gold is a store of value
the Euro is a store of value
Heck, lumber is a store of value...
The value is in that other people will recognize the value and use it for a medium of exchange for goods and services...
If you only went with gold as a medium of exchange.... you would have to have all coins... and since an ounce is pretty high right now, you will haev to 'mix' the gold with something else... OPPPS... now you are not on a gold standard anymore... you are on a hybrid gold standard...
Now... if you are just saying that gold is the best investment to buy right now because there is nothing else out there that you think will perform better... that is another story...
Your view of the supreme court....
|
|
|
05-17-2010, 10:12 AM
|
#87
|
Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Austin
Posts: 1,142
|
Quote:
Originally Posted by mb
What I see is an almost continuous 200 year decline in the relative value of gold.
|
A wise friend once reminded me that a dollar is a claim on U.S. goods and services. 200 years ago, an once of gold would have purchased goods produced by manual labor, think tailor-made clothes or handmade shoes. Today, after the industrial and electronic revolutions, an ounce of gold purchases goods made by vastly more efficient, automated means. The U.S. economy is much more productive, and it seams sensible that a share in it is "worth" more.
__________________
Start by admitting
from cradle to tomb
it isn't that long a stay.
|
|
|
05-17-2010, 06:05 PM
|
#88
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
|
Quote:
Originally Posted by growing_older
In retrospect, it was obvious that the tech stock bubble was over and prices were about to plunge when my babysitter and the kid who mows the lawn started asking me about how they could participate in any new Tech IPOs I might know about.
Right now, I can buy and sell gold through the mail, at numerous storefronts and even at "tupperware" style gold parties at my neighbors house. There are infomercials on TV and radio. Now we have brand new posters starting their introductions by hawking gold. Is this the equivalent moment for gold? Time to sell and sit on the sidelines?
|
Add Kmart and Sears to the list...
Quote:
Sears Holdings Corp , which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar.
The new service, available at the jewelry departments of Sears and Kmart stores, allows customers to send their gold and silver items to Pro Gold Network, a company that buys precious metals from consumers.
Sears and Kmart to Offer Cash-for-Gold Service
|
__________________
Numbers is hard
|
|
|
05-17-2010, 06:54 PM
|
#89
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
More evidence that gold has completely jumped the shark:
Abu Dhabi Opens Gold Bar Vending Machine in Emirates Palace - BusinessWeek
May 13 (Bloomberg) -- Abu Dhabi’s Emirates Palace hotel opened a vending machine that dispenses gold bars, making the United Arab Emirates the first country outside Germany to install the machine.
In addition to 1 gram, 5 gram and 10 gram bar of gold the machine also dispenses gold coins, MPW Finance said in an e- mailed statement. The machine was developed by TG Gold-Super- Markt, a brand of Ex Oriente Lux AG.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
05-17-2010, 10:04 PM
|
#90
|
Thinks s/he gets paid by the post
Join Date: Aug 2006
Posts: 1,558
|
"holding dollars is a sure way to lose purchasing power over time. for dollars to do well the US needs to have deflation. that's been a 70+ year losing streak."
The gold bugs always seem to forget that people generally earn interest on their dollars. Currently, there is very little inflation, so short term interest rates are very low. If inflation rises, interest rates rise and people get compensated for the dollar's loss of purchasing power.
Yes, I'd lose purchasing power if I kept my dollars under a mattress, but I tend to keep them in banks that pay me a competitive rate of interest. If inflation goes up, I will be compensated for it.
Gold has had a very massive run-up in anticipation of a very large amount of inflation. If people have overestimated the amount of inflation coming, people buying gold now will lose a very significant amount of buying power. Given that gold has quadrupled in about 10 years, but I'm still buying McDonald's double cheeseburgers for around a dollar, I'll avoid gold until its priced more rationally.
|
|
|
05-17-2010, 11:38 PM
|
#91
|
Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,768
|
[sarcasm font]Sure wish I'd bought in 1980 [end sarcasm font]
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
|
|
|
05-18-2010, 06:56 AM
|
#92
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
|
Quote:
Originally Posted by Hamlet
Gold has had a very massive run-up in anticipation of a very large amount of inflation. If people have overestimated the amount of inflation coming, people buying gold now will lose a very significant amount of buying power. Given that gold has quadrupled in about 10 years, but I'm still buying McDonald's double cheeseburgers for around a dollar, I'll avoid gold until its priced more rationally.
|
Tisk, tisk, tisk. None of this is important to "economists" such as endthefed. You only need to know one thing. The Fed's balance sheet has increased in size. (Never mind that demand for money has been absolutely crushed by a deleveraging cycle that continues to put downward pressure on prices). But with the simple knowledge that the Fed's balance sheet has increased we can extrapolate with absolute certainty the hyperinflation that is right around the corner (and always will be).
Meanwhile, gold can never be "over priced". Not because there is no objective way to value it, of course. But rather because the price of gold is by definition rational. It is, after all, "gold" . . . the thing from which "hard money" is made.
__________________
Retired early, traveling perpetually.
|
|
|
05-18-2010, 07:18 AM
|
#93
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
|
Producer costs unexpectedly declined in April
Better stamp out that inflation threat (and never mind the cost of doing so).
Quote:
Cost pressures are diminishing as goods make their way up production lines to consumers, showing companies have enough idle capacity to prevent bottlenecks even as sales rebound. The European debt crisis will probably also help restrain prices, one reason why economists are pushing back forecasts for when Federal Reserve policy makers will raise interest rates.
|
__________________
Retired early, traveling perpetually.
|
|
|
05-18-2010, 07:50 AM
|
#94
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
I just sold my small position in GLD, a gold ETF. It was less than 1% of my portfolio, and bought as a lark in early 2008. A gain of 32% in a bit more than 2 years, so I am not complaining :-). Will see if I regret not holding onto it.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
05-18-2010, 12:04 PM
|
#95
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
Since we are so absolutely certain that gold is horrible idea, so much so that we seem to have chased off the OP, it will likely turn out to be a very good investment.
I don't do momentum, but there are some pretty heavy hitters in this trade- like John Paulson.
Of course, what does he know compared to ER.org? Is he ER'd?
Speaks for itself.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
05-18-2010, 12:06 PM
|
#96
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
|
Quote:
Originally Posted by haha
Since we are so absolutely certain that gold is horrible idea, so much so that we seem to have chased off the OP, it will likely turn out to be a very good investment.
|
Not necessarily a horrible idea. But it was advocated with horrible arguments . . . which is why the OP is gone.
__________________
Retired early, traveling perpetually.
|
|
|
05-18-2010, 12:08 PM
|
#97
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
|
Like Gone4, my problem wasn't the message, it was the delivery.
__________________
Numbers is hard
|
|
|
05-18-2010, 12:12 PM
|
#98
|
Moderator Emeritus
Join Date: May 2007
Posts: 12,890
|
Who said owning gold was a horrible idea? I think many of us (me including) own precious metals. I just cannot agree with anyone who says that gold is the only investment that makes sense and that people who invest in stocks, bonds and cash are "idiots"...
|
|
|
05-18-2010, 12:14 PM
|
#99
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,271
|
I keep having a voice in my head; "Yo - dawg - where my gold at"? when I read the thread title.
Think physical gold is down a couple bucks to $1219/philharmonic and our USAA gold stock is down 1.72% today. Time to sell it all and run for the hills with the seed corn and firearms?
|
|
|
05-18-2010, 12:16 PM
|
#100
|
Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,693
|
My DW seems to think that gold is just wonderful. (heh)
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
Similar Threads
|
Thread |
Thread Starter |
Forum |
Replies |
Last Post |
GOLD up up and ?
|
JustMeUC |
FIRE and Money |
26 |
11-27-2009 05:34 PM |
Old Threads
|
haha |
Forum Admin |
6 |
04-08-2009 08:49 PM |
Out of gold
|
haha |
Active Investing, Market Strategies & Alternative Assets |
7 |
11-13-2007 06:06 PM |
And gold, gold!, GOLD!!!!!!!!!!!!
|
yakers |
FIRE and Money |
1 |
05-17-2006 10:03 AM |
Gold
|
mb |
FIRE and Money |
199 |
04-17-2006 05:40 PM |
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|