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 Replies: 52 / Views: 6,409 |
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Rest in Peace
United States
4849 Posts |
Gold flew through the $1,200 mark today! $1,208 as I speak....
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Bedrock of the Community
United States
10982 Posts |
I knew this would happen! Sold 14 ozs last week at $1162!
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Pillar of the Community
United States
2541 Posts |
I was really tempted to jump into this argument with my opinions, but I will just leave it and say that I am buying some silver on a regular basis as "insurance" against fiat money collapse and massive inflation....
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Pillar of the Community
 United States
2424 Posts |
i too was smirking as the markets collapsed today and gold went to $1200/oz.
not that I am happy that it happened. I am a Christian, and I know this is a "COIN" forum, but if can speak freely, there is biblical truth to what is going on here. nearing the end times there is a call for a one world currency. this "could" be the start of that. not going to hold my breath though.
thoughts?
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Rest in Peace
United States
4849 Posts |
Quote:
not that I am happy that it happened. I am a Christian, and I know this is a "COIN" forum, but if can speak freely, there is biblical truth to what is going on here. nearing the end times there is a call for a one world currency. this "could" be the start of that. not going to hold my breath though.
thoughts? Cool, I'm a christian too. I here what you're saying, and have though about that too. I'm not too worried yet as I think things still have to get a LOT more extreme, but a one world currency in my lifetime wouldn't completely shock me. |
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Pillar of the Community
United States
3098 Posts |
nah, there will be too much opposition to just one world currency (unless that is gold/silver itself). The world is just not united enough, so we'll have to use something that all people accept (bullion) or something that is forced onto them (US dollar)
How I wish we can use gold/silver, but the government (all govs!) love their printing presses too much to do that. Plus, if we do go back to a bullion currency system, the economy would not grow as fast, leading to worse economic situations, etc etc
Also, if we look at the Euro, it's being dragged down by just one country, Greece. If we all have one currency (not bullion), no doubt the same would happen.
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Rest in Peace
United States
4849 Posts |
Yeah, imo there would have to be some major political changes, like the fall of several countries into the control of others.
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Pillar of the Community
United States
1055 Posts |
I guess it could be feasible to see the world use the US dollar as the "world currency" it is already happening most countries will accept US money and just give you local currency in return. Ecuador stopped printing its own money and now strictly uses the us dollar for example. When I was in Sudan,Ethiopia, Uganda (in the sticks not the city) everyone was excited to accept U.S.
On another note gold could possibly be worth $100,000 USD in the future...It would just cost $1,000 for loaf bread and milk. I hope gold crashes so I can buy it up, but don't think it is realistic below $750...You might could reduce potential loss by buying a bit herer and there at different spot prices rather than buy 50oz with it at $1,200...remember you only loose/gain money when you sell, rather than holding a wad of paper that is loosing value you have a tangible asset that will never be worthless.
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Pillar of the Community
United States
1053 Posts |
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Pillar of the Community
United States
1053 Posts |
woops!  |
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Valued Member
United States
436 Posts |
Once again, I have to pipe in here. PM's appear to be the popular investment right now, propped up by fear and paranoia propagated by conspiracy theorist, pm investor, and fundamentalist Christian websites. I could be wrong, but once the dust settles on this new economic downturn and things normalize again (as they always do), the market will look like the place to have kept your long term money. I keep hearing that this economic downturn is different, it's unique, and we won't be able to recover from it. Hate to say it folks, but every economic downturn in our country, going back to the 1800 downturn, has been unique. We've always swung the other way, and at least for my lifetime we always will. I say, keep your investments maybe a bit conservative right now, and diversify, diversify, diversify! I'd stay away from pm's at the moment, as they are about to do what properties did a few months back when everyone pulled out. You can tell by the ads. I remember every station on t.v. after midnight would show those invest in property info-mertials right at the end of that bubble. Now I'm starting to see invest in p.m. ads...not a good sign. I'm just sayin'...
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Valued Member
United States
436 Posts |
Did I say what properties did a few months back? I meant to say a few years back....sorry (wipes egg off face).
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Pillar of the Community
United States
4000 Posts |
I like to go by charts. Right now gold is in a wait and see pattern. Wait and see if it can break the resistance level of around $1225 for a move to $1500. Or wait and see if there is another failed attempt at resistance at around $1225 again, maybe twice more, then look for a fall back to previous resistance (now support) at around $1000, maybe $975. A few months of encouraging economic data would spur risk appetite and move monies back into the markets and gold will fall. But if it blows out the stops and shorts above $1225-50, the move to $1500 will be quick. And then we'll do it all over again with new supports and resistance. I'd like to know if there are any Elliott wave theorists out there. I'm wondering if they think we are in the middle of Wave 3.  |
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Valued Member
United States
300 Posts |
I think some (new-to-the-game) are looking at gold right now as an insurance policy, some place to park for awhile
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Bedrock of the Community
United States
10982 Posts |
Quote:
I'd like to know if there are any Elliott wave theorists out there. I'm wondering if they think we are in the middle of Wave 3.
I enjoy viewing the charts also.  I am not an analyst or wave theorist but do believe that most markets today (including precious metals and equities) are being manipulated like a sock puppet.  Diversification is a key. Precious metals are like insurance to me with the added benefit of being in the form of beautiful numismatic pieces.  Keep your eggs spread among several baskets and enjoy the hobby of coin collecting at the same time.  |
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Replies: 52 / Views: 6,409 |
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Posted 05/06/2010 6:47 pm
