where are the gold threads?

[yakers]

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.

 

[FIREd]

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.

 

[haha]

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

 

[haha]

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

 

[FIREd]

The bond market seems pretty unconcerned with its ineluctable slaughter by inflationary forces.

 

[endthefed]

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.

 

[endthefed]

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.

 

[FIREd]

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.

 

[endthefed]

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.

 

[FIREd]

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...

 

[endthefed]

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..

 

[CuppaJoe]

....

the reception isn't what i expected.

Rabbit ears?

 

[endthefed]

Rabbit ears?

yep, rabbit ears + acerbic first two (plus you) replies to my thread

 

[RonBoyd]

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"?

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

 

[Amethyst]

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.

.

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

..

 

[Gumby]

We ignorant masses have feelings, you know.

And we prefer to be known as the lumpen proletariat of cyberspace in any event.

 

[Texas Proud]

Sounds like he has his own site and is coming to troll for people to visit...

I wonder who will go there an check it out... but, at least I have not seen a posting of what it is...

 

[Gone4Good]

To answer your question as to why you haven't seen people hyperventilating here over inflation, is because the folks making your argument since 2007 have been dead wrong. (I know, not wrong, just early )

And if you want to get on a rant about how CPI is garbage, please provide some supporting evidence first (not opinions) . . . it's simple enough to compare the prices of a basket of real items at various points in time with CPI. You can start with prices from an independent source like this newspaper.

 

[Texas Proud]

To the OP...

You sound like a crazy man... that is why you have received the reception you have...

Saying the Supreme Court is a puppet... of who You are not the kind that think there is a cabal of people who meet in secret and run the world

I will be pounding my head against a wall with the way you think...

But hey... why not....

As someone pointed out... money is a store of value... gold is a store of value... either of them can be changed with something that is not in your control. Right now, the value of the dollar is being challenged by the amount of spending going on... this is a real concern... but you can put your money in almost anything that others would seem to think has value..

The value of gold could be reduced IF someone found a place where this is 1 billion tons of it.... the supply would be so huge the value would drop...

And lets say we are in the middle of the desert and you have gold and I have water.... what is more valuable then

The point is, the value of anything is in relation to something else... nothing is 'pure'...

BTW, I used to have a friend who would always say the same things you have.. I got tired of it and we have not seen each other for 25 years... since he was saying this 25 years ago... nothing major has changed...

One of the things he also used to say which we have not yet been graced from you is the illegal income tax.... let me know if it is legal or not... I really want to know...

 

[Gone4Good]

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.

Maybe the part you should have highlighted is "No State shall . . . "

But then again, you'd think the title of Article 1, Section 10 "Powers Prohibited of States" should have been a give away.

Meanwhile, Article 1, Section 8 titled Powers of Congress gives Congress the power . . .

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

This makes no mention of gold. And further, specifically gives Congress the ability to "regulate the Value" of money.

 

[Leonidas]

yep, rabbit ears + acerbic first two (plus you) replies to my thread

You come in and start shouting at everyone like a sideshow barker with a rant on gold that is akin to trolling or spamming, and my reaction is acerbic?

C-ya.

 

[CuppaJoe]

yep, rabbit ears + acerbic first two (plus you) replies to my thread

Check out the second definition of rabbit ears (for the sports minded) and calm down before the other Texans bring out the fire ants. Longtime lurkers know this is just kidding. You might think about starting over without your one-note topic. Good luck and good morning.

 

[powerplay]

With gold at $1200+ and silver at $12+ I wouldn't be buying any now. I am happy with my gold coins that I got at $300 and the silver at $4 bought a number of years ago. It was a kick going to the mine to get the silver bar!

 

[endthefed]

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.

i have to admit, i stole that line from a fellow poster. i thought it was funny.

the point was comparing those gold meltdown sales to overall gold supply...drop in bucket

 

[endthefed]

Check out the second definition of rabbit ears (for the sports minded) and calm down before the other Texans bring out the fire ants. Longtime lurkers know this is just kidding. You might think about starting over without your one-note topic. Good luck and good morning.

i'm very familiar with the term. been using it since the 80's....played college baseball. i love it!