Does Anyone Here Not Even Want To Deal In/With Gold?

So what is long term to you Barry? I've been investing in PM since 1987, I've got silver with a cost basis of $7-$8/oz. I started buying gold about 10 years ago at $300-$350/oz.

How's this for long term... in the 1960's you could buy a gal of gas for 20-25 cents, today if you have a quarter minted before 1965 the silver is worth more than a gal of gas.

And yes many of us see the dollar continuing to fall long term. About the only thing that would turn my opinion around on that is the next election cycle but even then I'm afraid its too late. We have way too much debt, the only way out is the printing press now. See sig and welcome all you new guys

Yeah I hear you Barry, but what would dollars in the bank have done since 1980 in terms of buying power? Things are different now that we are broke, we have run up all the credit cards to the max, gotten 2nd and 3rd mortgages and lost our job on a national scale.

BTW unfortunately I did sell my gold when it hit a $1000, but bought it all back and more around $1400. I do have Sept put options in GLD and SLV for downside protection.

I think the doomsday theorists are making that happen, not the real "value" of the PM. You can buy into a stock that's being hyped up just as well and just hope you'll have the smarts to pull out before it goes back to reality.




I think the trick is in capitalizing on those who think things will go back to the stone age. Big man has gold and can buy loaf of bread. Fact is, when desperation hits, you'll be knocked out for the gold in your mouth. You have it, you'll be ripped to pieces for it. You have anything that can be traded for food/ shelter, you'll be taken for it.




I agree. For now it's more of a short term gamble. Again, when the dollar collapses and you need a trunk full of hundred dollar bills to buy a quart of milk, what good will gold do? Are you gonna take a kilo bar to the farmer and file off the appropriate amount of dust, to get it?

Who determines the "value" of something after the currency used to buy it is no more? What if the loaf of bread has the price of 1 Kilo Bar? How long is someone trying to sell for gold going to live before people just take what they want?




LOL. So funny. I do live out in the country and have enough property around me to sustain myself. The fun part: Where the heck do you think desperado's will go? If you really want to make a buck offer free online storage for peoples belongings. I am sure some morons would send you a check to "virtually" hold on to their valuables until they return from their bunkers?

The people who make real money with gold are those who have managed to hype this incredible fear to the extreme. The price is controlled by those who own a whole lot, and day trade with it. Market up 56 bucks: sell a couple millions worth, wait... wash, rinse, repeat.

Self prescribed insanity? Sorry for the cynicism, but I can't help it. I remember a coworker who spent 25.000 dollars on one $0.03 penny stock, before cashing his savings in too, preaching to god and the world that it would hit $30.00 He didn't sell when it reached $0.05 when everyone of us screamed at him to get the heck out. Finally he managed to go bankrupt...

The what if game is moot, but what if people spend their last shirt on gold, just to watch it fall down? Great way to destroy a lot of liquidity in a short amount of time...

Well, even if we don't take the worst case scenario. The same would hold true if I had bought gold any time during it's run up to $800/oz. Had I bought at $400, $500, $600 or $700, the end result would have been the same -- a crash back down to $300 for the next 25 years. And it's not a matter of wanting to sell gold "at the bottom" -- it's a matter of wanting to sell gold any time in the next 20 years (that "bottom" lasted a really long time).

$1800 may not be anywhere near the peak this time around. Maybe it will keep going to $2500 and beyond. But when it does eventually crash, most people seem to think it will end up at or below $1000, which is why buying it now just doesn't seem to make much sense as a long-term investment. As I said earlier, though, it still probably makes pretty good sense as a short-term investment, as long as you time the market and get out while the getting's good...

Heh. All I've "figured out" is that Gold is probably not the best long-term investment to buy into right now. Sadly, I don't have a clue what a better long-term investment is, other than leaving money in a bank that I hope doesn't go under with a measly 0.25% interest rate.

"However, why are people still talking about buying gold as a long-term investment? It seems like everybody agrees that gold will eventually crash"

Gold has been climbin pretty steady for over 10 years, so to me waitin for a crash, is like waiting for gas to falll back to a buck a gallon....

I tell you what, we get a new president, that pulls 17 trillion out of his magic hat and tosses it into the mix, I will side with the idea that gold will crash again....

Until that time, all you doubters need to tell yourself one thing, anytime you start to doubt just remember Dr. Evil aka Mike Myers with his pinky in his mouth saying----"17 trillion dollars" and that is with a T....

Lol touche poboxW! The world points you made were very true, as all this is a much broader scale than the USA....

I can relate to this. There has been much talk here in SW Washington state of building a coal exporting facility that would bring coal here by rail for shipment via ship and service both China and India. Unfortunately, the foot-draggers and nay-sayers have it bollixed up for the moment. Hopefully, it will get straightened out sooner rather than later and hundreds of new jobs will be created here as well. It is crap like this that helps keep our trade deficit so high.