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 Replies: 35 / Views: 3,497 |
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Pillar of the Community
United States
830 Posts |
Quote:
What are the modern-day risks of owning a safety deposit box? I would think only when you go to or from the bank... Ok, I was just looking at one this week. They leave the vault door open all day, now this might not seem too bad but we live in tornado alley and an F5 can completely wipe buildings down to a bare concrete slab. Also are they fire proof, what happens if there is a SHTF event and rioting in the streets, the power grid goes down...etc. will the vault be safe from robbery? You could get forced to go the bank and get it (again gun to loved ones head thing). Well you get my point.  Edited by GoThunder
08/12/2011 10:49 am
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Pillar of the Community
United States
1026 Posts |
Well I will probably not sell I am also in for the long hall, I just read a very interesting report from an investment news I get. Allot is over my head but what I got is this investment firm feels it is impossible to stop the trashing of the US dollar as the worlds reserve currency said it is happening already. This will make things worse there will be ups and downs but gold will in the long run keep going up to $2500 and then they said the path our government has been on it is impossible now to stop a default in our countries interest payments and allot of other stuff they talked about. To sum it all up things in the next year and beyond will get much worse pushing gold to even more unheard of prices $5000 and up.
Allot of what they said I see happening now all over the world and they claim we are next but hop they are wrong but impossible to stop the chain of events that will unfold in the coming months and two years.
They also said before the stock market will rebound but in the next months will take a HUGE dive unlike anything we have seen yet. (Who knows just their educated guess from the data and events they monitor)
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Pillar of the Community
United States
830 Posts |
I'm looking at this pull back and trying to compare it to the last couple pull backs we had. Looking at the daily chart of GLD below we had a pull back around the 1st of May that lasted about 5-6 days and retested the low in mid May. We had another pull back in mid June that bottomed out the end of June. We were probably over due for a pull back so this one may go a little lower...maybe a 50% retracement of the move from July 1st to a few days ago. I'd say if GLD gets down to the 159-158 handle, gold (how ever you like to buy it) will be a screaming buy. That would be roughtly about $90-100/oz below the current price in gold ($1734). Any thoughts pro or con on that? Sorry if the months aren't clear, the first vertical white line is May, then each line is one month.  Edited by GoThunder
08/12/2011 12:15 pm
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Pillar of the Community
United States
2589 Posts |
If I feel that the economy is turning around (which I dont think will happen for quite some time) I plan on dumping all my gold and most of my silver and buying up as much rhodium as I can.
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Pillar of the Community
United States
505 Posts |
After seeing the disconnect between gold and silver during the last gold rise...I would stay with gold....I think that when things really get bad,gold will be the rocket
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Pillar of the Community
United States
5833 Posts |
Quote:
They also said before the stock market will rebound but in the next months will take a HUGE dive unlike anything we have seen yet. (Who knows just their educated guess from the data and events they monitor) I can't see it because interest rates will stay at Zero for 2 years, Obama will make things look good before his re-election, and Bonds rates won't go any where? If anything do happen, maybe after this year. And everything drops on December 23? 2012. The end of the world. Edited by macmercury
08/12/2011 2:58 pm
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New Member
Japan
5 Posts |
The only scenario I can see worth dumping a substantial hoarde for is: if one lived in an urban area, getting out and buying some rural property with timber water and tillable land. That will hold value.
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Pillar of the Community
United States
830 Posts |
Quote:
The only scenario I can see worth dumping a substantial hoarde for is: if one lived in an urban area, getting out and buying some rural property with timber water and tillable land. That will hold value. That would be a good investment  I like you already AuAg.  Edited by GoThunder
08/12/2011 8:44 pm
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Pillar of the Community
United States
648 Posts |
GoThunder - I looked at a Roth IRA as a single person - unfortunately I do not qualify :(
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Pillar of the Community
United States
830 Posts |
No taxable income? Quote:
According to Roth IRA rules, to be eligible to open a Roth IRA all one needs is taxable income. That income can be in the form of salaries, wages, bonuses, tips or professional fees. There are no Roth IRA rules that require a participant be a certain age to open an account. If a kid were really smart, he or she would establish a really good paper route as soon as they could and open a Roth IRA. |
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Pillar of the Community
United States
648 Posts |
Perhaps I am looking too much into it -
In 2010 and 2011, the modified adjusted gross income limits are:
Single filers, Head of Household or Married Filing Separately (and you did not live with your spouse during the year) with modified adjusted gross income up to $105,000 ($107,000 in 2011) can make a full contribution.
Contributions are phased-out starting at $105,000 (or $107,000 in 2011) and you cannot make a contribution if your adjusted gross income is in excess of $120,000 ($122,000 in 2011).
Edited by tripncoins
08/13/2011 10:57 am
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Pillar of the Community
United States
830 Posts |
Oh you make too much money...yeah I don't have that problem. I guess the traditional IRA is the one for you millionaires and billionaires. |
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Pillar of the Community
United States
648 Posts |
I am neither, but just buy bullion with plain old cash.  Edited by tripncoins
08/13/2011 10:47 am
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Pillar of the Community
United States
2424 Posts |
so what is to say that gold WONT go back down below $1000 oz?
if gold is solely tied to the DOLLAR and economic FEARS, there is part of me, a very small part of me that is holding out for the economy to get better.
markets rise and fall no? upswings and downswings?
well, looking at the graph for gold and silver, it seems as if we are DUE for a HUGE correction.. no, all things considered, there are things going on in the world politically and globally that were not going on in prior swings.
however, I totally get the smaller swings of 90-100$/oz. buying/selling for short term profits - to each his own
but I want to buy gold really bad - for the long term. I just cannot come to grips with buying it THIS high($1500++)
i know the economy is bad, unemployment, jobs, etc etc. which in my opinion only, is why the PMS are doing so well. and they can only do so well for so long. if we knew the future, we wouldn't be talking about this would we...
anyway, I dont want to get too wrapped up in this gold/silver 'craze'.
i think there will be opportunity later on down the road if/when our country realizes there is a bigger problem going on
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Pillar of the Community
United States
4008 Posts |
Quote:
so what is to say that gold WONT go back down below $1000 oz? How about the total financial incompetence of the US government, wars in the Middle East, debt running amok in Europe and the US, earthquakes and tsunamis in the western Pacific, Mexico coming apart at the seams, etc, etc, etc? Not saying that gold CAN'T go to $1000 per oz. but it sure seems unlikely anytime soon. |
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Posted 08/12/2011 10:52 am
