GGGGGold

[dscott67]

i believe gold will strike 1400 per oz by sunday,any takers ??

 

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[Eric Willoughby]

i believe gold will strike 1400 per oz by sunday,any takers ??

I agree, but just to be very honest with you.... gold is not getting more "valuable", its inflation on the dollar. It's cost us more in our paper currency to buy it. In short, the higher that price goes, the more trouble we are in with our currency. It's a very bad sign. Hold onto any gold and silver you can get your hands on is all I can say.

 

[Roland58]

My question would be, "What good will having gold do you?" Even if it goes to $2K - $3K per oz., who is going to buy it and what good would the money do you if the money isn't worth anything? When the money becomes worthless, there is total unemployment, grocery stores are unstocked, there is mayhem and anarchy on the streets, what good will the gold do you? You can't eat it (well, I guess you could, but, things wouldn't come out well <pun intended>). And these gold investment firms........they typically charge about 30% over market value for their physical gold and if you try to sell it back to them, they will offer you about 30% under market value. This means that gold would have to go up in value 60% for you to just break even! I am prepared for any eventual hard times, but, it is in the form of food, water purification, medical needs, and other necessities, i.e. fishing equipment, guns, ammo and survival gear.

 

[Eric Willoughby]

My question would be, "What good will having gold do you?" Even if it goes to $2K - $3K per oz., who is going to buy it and what good would the money do you if the money isn't worth anything? When the money becomes worthless, there is total unemployment, grocery stores are unstocked, there is mayhem and anarchy on the streets, what good will the gold do you? You can't eat it (well, I guess you could, but, things wouldn't come out well <pun intended>). And these gold investment firms........they typically charge about 30% over market value for their physical gold and if you try to sell it back to them, they will offer you about 30% under market value. This means that gold would have to go up in value 60% for you to just break even! I am prepared for any eventual hard times, but, it is in the form of food, water purification, medical needs, and other necessities, i.e. fishing equipment, guns, ammo and survival gear.

You're absolutely right Roland. I am on the same page with you, I have been telling people the same thing for years but no one seems to want to listen to it. Gold and silver will only help during the initial panic, but it wont take long before food, bullets and other items become the real currency.

 

[Roland58]

My question would be, "What good will having gold do you?" Even if it goes to $2K - $3K per oz., who is going to buy it and what good would the money do you if the money isn't worth anything? When the money becomes worthless, there is total unemployment, grocery stores are unstocked, there is mayhem and anarchy on the streets, what good will the gold do you? You can't eat it (well, I guess you could, but, things wouldn't come out well <pun intended>). And these gold investment firms........they typically charge about 30% over market value for their physical gold and if you try to sell it back to them, they will offer you about 30% under market value. This means that gold would have to go up in value 60% for you to just break even! I am prepared for any eventual hard times, but, it is in the form of food, water purification, medical needs, and other necessities, i.e. fishing equipment, guns, ammo and survival gear.

You're absolutely right Roland. I am on the same page with you, I have been telling people the same thing for years but no one seems to want to listen to it. Gold and silver will only help during the initial panic, but it wont take long before food, bullets and other items become the real currency.

Apparently, you have discovered (as I did) how few people believe this! I think when the fecal matter strikes the air mover, we need to get together........hopefully, there will be others!

 

[BuffaloBob]

i believe gold will strike 1400 per oz by sunday,any takers ??

Could be but I just began buying & selling mining stocks as the market fluctuates. Trying to time the ups and downs and make a few bucks either way. Following a friends charting model.

Of course there still plenty of variables, like the miner strike at a mine in South America. Can't predict those.
BS

PS:
Traditionally the gut check rule for the price of gold is "One ounce of gold = one nice men's suit". Go figure.

 

[BuffaloBob]

i believe gold will strike 1400 per oz by sunday,any takers ??

Could be but I just began buying & selling mining stocks as the market fluctuates. Trying to time the ups and downs and make a few bucks either way. Following a friends charting model.
Of course there still plenty of variables, like the miner strike at a mine in South Ameria. Can't predict those. BS Traditionally the gut check rule for the price of gold is "One ounce of gold = one nice men's suit". Go figure.

Here is a chart for the overall Gold mining stocks as of Friday 02/18/2011. Based on this data, the price is close to topping out (for mining stocks).

 

[Roland58]

LOL! It looks like something Gore put up to explain global warming!!

I am impressed that you understand that stuff. I don't and that is why I have a money manager.

 

[dscott67]

i have a gut instinct that there's a grand scheme behind all this price jacking,i may have to use mine to buy food,clothing,etc.. next year if not sooner!! it won't be worth a tinkers dern when there is no one to take it off your hands except the GOV.

 

[Roland58]

i have a gut instinct that there's a grand scheme behind all this price jacking,i may have to use mine to buy food,clothing,etc.. next year if not sooner!! it won't be worth a tinkers dern when there is no one to take it off your hands except the GOV.

Oh no, that can't be right! If I remember correctly, there will be tax cuts for 95% of the people!! (I must be in the 5% and that must pertain to retirees on fixed incomes :P)

 

[dscott67]

i have a gut instinct that there's a grand scheme behind all this price jacking,i may have to use mine to buy food,clothing,etc.. next year if not sooner!! it won't be worth a tinkers dern when there is no one to take it off your hands except the GOV.

Oh no, that can't be right! If I remember correctly, there will be tax cuts for 95% of the people!! (I must be in the 5% and that must pertain to retirees on fixed incomes :P)

i am most certain you'll find me in the 5% line !! ,, that's the saddest part of it,,you,i and 60 million other tax payers !! i don't think that the fecal matter is that far off !! lol

 

[Rockin Chairs Gold]

I don't own much Gold and what little I have I'm going to hold onto, and that goes for what silver I have as well.

Does anyone remember the tax break the government gave us last year to help boost the economy. Well I just got my tax's done this week and they took it all back. All I can say is don't wait for your uncle to bail you out. Rick

 

[Roland58]

I don't own much Gold and what little I have I'm going to hold onto, and that goes for what silver I have as well.

Does anyone remember the tax break the government gave us last year to help boost the economy. Well I just got my tax's done this week and they took it all back. All I can say is don't wait for your uncle to bail you out. Rick

LOL. My sister (a big BO fan) is still waiting for her 'big check' and I have a brother-in-law and his wife that are still looking forward to the 'free' healthcare! My cousin's wife (in England) is on a waiting list for a surgery she needs performed and has been for months......right now, they tell her she is about a year and half out. Yeah, that's what we need!!........not.

 

[dscott67]

i'm terrified to even begin mine,i'm sure they'll get it back from me too..heck,them freeloaders need it in wash.,,,,they make me want to "PUKE",and they sure ain't gettin my gold and silver,shoot it would take me 3 days to find it,i got dementia you see !!