| Author |
 Replies: 23 / Views: 2,684 |
Page 2 of 2
|
|
|
|
Pillar of the Community
United States
830 Posts |
Quote:
But who can afford to buy it? I guess the wealthy, now anyway. If you don't have wealth I guess you don't need a wealth preservation vehicle. |
|
Pillar of the Community
United States
667 Posts |
"The Austrain school has gained popularity because throughout the years they continue to be right. Peter and the Austrians were the only ones who saw the housing bubble in 08' coming while everyone else laughed at them.
"
WOW there Ron this is so far out of line. There were in fact many people who saw this coming as did my financial adviser that talked to me and moved my assets.
I don't mind giving him credit as one of the many but he was far from the only one and in fact those that also saw it coming were not not from the Austrian School.
It was in fact the most called bubble of the last 100 years.
Like I say you everyone should read several sources and understand them clearly.
|
|
Pillar of the Community
United States
667 Posts |
Who can afford gold? I would speculate more people than you would think. The problem is do they want to?
The middle class certainly can make a choice to buy gold or go on vacation, keep a cell phone or cable TV. No one said investing or speculating was an easy choice but it can be done.
NO most of us are not going to be able to switch now and buy large amounts of silver and gold. But you can buy small that is what I did when I had my first job and lived pay check to paycheck. I skipped a few things and bough PM's. Heck is was so expensive back then it was a struggle to do.
|
|
Pillar of the Community
United States
830 Posts |
Quote:
Like I say you everyone should read several sources and understand them clearly. My dad always said you can't believe everything you read. And that was way back when everything written had to be type set. Now days that any idiot can post something up it has to be even more true. BTW I'm not saying anyone here is an idiot, just saying.  Edited by GoThunder
09/05/2011 6:25 pm
|
|
Valued Member
 175 Posts |
|
|
Pillar of the Community
United States
667 Posts |
Nouriel Roubini
Robert J. Shiller
Dean Baker
Michael Burry
Armando Falcon
Med Jones
These are just a few and as you can see they come from all types of beliefs in economics. For the record there are over 100 people and I will be fair there were some Austrian school people too.
|
|
Valued Member
175 Posts |
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
The Swiss and Japanese are enlisting both policy measures and all the banker-speak they can muster to stem the tide of investment flows into their currencies. One would think that if they really wanted their currencies not to appreciate so much, all they would need to do would be to hint that they are considering an official currency devaluation. That would have all of the currency speculators running for the exits at FULL SPEED... and the currency value would decline. Quote:
Those who do not really understand the fundamentals, such as commodity trader Dennis Gartman, continue to look at gold's rise as a bubble. In fact, Gartman just called the top in gold, again, claiming that one of the "great bubbles of our time" had finally popped.
Before we get a gold bubble, all those investors talking about gold actually have to buy an ounce. In fact, before a bubble pops, its not just investors, but the average man in the street who will have to be buying. Thus far, he has not even joined the conversation. I agree with Peter on this. For gold to be a bubble, there would HAVE to be widespread participation in it and there isn't. Not only are US investors very low in gold ownership, so are most mutual funds, retirement funds, etc. Additionally, very few bubbles are EVER recognized BEFORE they pop. Right up to the point where they do pop, they are simply considered to be investments that are performing VERY well. Perhaps this is a bit like a "black swan event", which is inherently unpredictable by its very nature? Quote:
So he isn't high on the fiat dollar but is on other fiat foreign currencies. My thought on this is that it IS possible to manage a fiat currency properly and that any nation that does this can use paper money successfully. The Swiss seem to have figured this out satisfactorily. Unfortunately, very few nations do what is necessary for success. To be successful, the amount of currency in circulation MUST be closely matched to the industrial productivity of that nation. The central bank must be ready, willing, and able to add or subtract currency from circulation to match the ebb and flow of their economy. In the case of the US, this seems not to have ever been attempted, let alone been done successfully. In a severe economic downturn where US GBP is shrinking, the money supply is ballooning. This is the exact opposite of what we should be doing. Now THAT is a bubble that WILL pop and when it does, we will see a lot of inflation from all those extra dollars chasing the same or fewer goods. Quote:Now days that any idiot can post something up it has to be even more true. BTW I'm not saying anyone here is an idiot, just saying. That goes without saying, Thunder! Only good guys and a good gal or two in here for sure. I did see a bumper sticker once that was along these lines. It showed a drawing of the Earth and below that it read: "We're all bozos on this bus!". Under the right conditions, we all do dumb things from time to time. The real trick is not to make a habit of it.  Quote:
Nouriel Roubini This guy has been preaching gloom, doom, and the complete destruction of everything for as long as I have seen him on various TV shows. While he was doing that, I quietly went about my business making a small fortune in the stock market. This is not to say that he will not be right... someday... just that everything has not ended yet. Predicting that which does not happen is not helping his case very much. Peter Schiff gets kudos for predicting things that DO happen, for the most part. Of course, we ALL know that predictions are fickle things. Even the best of them cannot be timed very accurately at all. Roubini may well be right... the question is WHEN? |
|
Pillar of the Community
United States
3670 Posts |
"Swiss" This great guy that is a computer mathematician over at Oak Ridge, stops in by the bar from time to time. He just got back from Switzerland on business, and was telling me about his trip.... First off, his little hotel room had no AC an his room an window was facing the sun, which resulted in a 125 degrees. They had no AC by the way. Next, he bought a $14 dollar Heineken and later for dinner a steak an potato that broke down to $92 dollars of American. Finally he went down an found a hotel closer to where is company seminar would be located, and he found a room with AC minus a window and the cost for one night translated to $795 American dollars, so he of course went back to the hot room, lol.... I asked him if he had any trouble exchanging the American dollars for the Francs, and he said no problems. You just had to give them much more American dollars than Francs, lol. He did get a real bargain at only $200 a night for the 125 degree room, lol Edited by Silverhawk74
09/05/2011 7:52 pm
|
|
Valued Member
175 Posts |
|
|
Valued Member
175 Posts |
I didn't mean to post that again
|
|
Valued Member
175 Posts |
I don't believe everything I read but I do believe in the Austrian school.
|
|
Pillar of the Community
United States
830 Posts |
All I know is I've made a pretty good chunk of change this year following Peter Schiff's advice... what ever name you want to give it. |
|
Valued Member
United States
302 Posts |
Quote:
Who can afford gold? Lots of common ordinary people CAN. It is just a matter of PRIORITIES and a matter of WILL. You know you are in a bubble when your taxi driver is giving you investment advice. |
|
Bedrock of the Community
Australia
21788 Posts |
The safest haven for investment money in the U.S. just now is a haven that currently stinks. Real estate. Just be careful where you buy.
I think gold is a poor second place in this sort of environment at current high prices, although it looks like zooming higher.
Real estate prices are at rock bottom, and so are interest rates. I just may move to the U.S. I won't be competing for a job, I am retired, but I do have a reasonable and Australian Government Pension inflation protected income. Certainly enough to borrow in the U.S. for a mortgage to finance a modest home, but certainly not a mansion!
Southern California is a real nice place to live, almost as nice as Sydney, and real estate a darn sight cheaper for me! Just wait for inflation to kick in, and pay it off with smaller dollars than I borrowed.
Like any other market, you have to know your market here as well.
If I got seriously sick, I would probably high tail it back to Australia.
Would the U.S. want a completely legal immigrant, without having to pay a single cent for my upkeep? I will have plenty of gold. Southern California sun!
Just a thought!
Edited by sel_69l
09/06/2011 04:59 am
|
|
Page 2 of 2
|
Replies: 23 / Views: 2,684 |
Page 2 of 2
|
First Page
Posted 09/05/2011 6:16 pm
