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 Replies: 24 / Views: 4,900 |
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Bedrock of the Community
United States
17884 Posts |
Quote:
the news just announced that the Federal Reserve has suspended the sale of gold and gold coins to the public! Wow! Did I miss something? Is it 1933 again? The Fed doesn't sell gold or gold coins so they have no authority to suspend sales. The mint did suspend production, not because they want to make more in the future, but because with the volitility of the market and the rapid rise in the market their weekly price revisions can't keep up and they are afraid of selling at a loss to market. |
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Pillar of the Community
United States
1083 Posts |
The Fox news channel is about as credible a news source as the National Inquirer. People and governments are buying gold as a hedge against inflation and a falling US dollar. The US Mint and the Federal Government does not speculate on the market price of gold. There is a real shortage of gold to mint the coins with. Go down to your local bullion dealer and see how many 50$ gold eagles he has in stock.
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Valued Member
United States
245 Posts |
"They want gold/silver to be weak in hopes that people will buy equities and further inflate their cash cow."
WS goes any place the money (manipulation) is, doesn't really matter if it's equities, tech , or what ever.
As a investor it really doesn't matter who, or what, it's how high can it go up before it takes a nose dive. I've made 34% on my gold paper investments in 09, should I wait until it hits $1800-$2000 oz?
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Valued Member
United States
436 Posts |
Conder101, as stated earlier, the Fed didn't suspend sales of gold eagles, the mint did.
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Bedrock of the Community
United States
10982 Posts |
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I've made 34% on my gold paper investments in 09, should I wait until it hits $1800-$2000 oz?
It would depend on how much money the 34% yields. Consider taking some profit at $1,200 though. I cashed in 1/3 of my gold in November and realized about $7,000 in profit. I had $8,000 in the 10.2 ozs I sold for $15,000. I then bought more gold and other coins. I'm now holding about 25 ozs and will sell another 10 ozs when gold hits $1,300. I wouldn't hold my breath for $2,000 gold but $1,500 looks very probable next year. P.S. My sister is a broker for Bank or America (formerly Merrill Lynch) and can't believe people are buying gold at these prices. It's hurting their business and they want gold to start dropping yesterday. Edited by BH1964
12/01/2009 2:55 pm
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Pillar of the Community
United States
3294 Posts |
With the way the government likes to spend, and the reluctance of the Fed to raise interest rates, the dollar is going to drop in value. Of course the bank can not complain too much, because they can borrow all that $ from the Fed for almost nothing at the same time.
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Pillar of the Community
United States
2541 Posts |
Oh boy, here comes the gold bandwagon. Make sure you don't miss it, just like the tulip bulb craze and the "I run a website from my basement with no earnings yet my P/E ratio is 100" craze. Bell curves, bell curves, bell curves. Everything will revert back to the mean.
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Rest in Peace
United States
2668 Posts |
I don't think so, the dollar is under attack from within and without. If you don't understand where the dollar is headed, you haven't been paying attention. Please google 'Zimbabwe dollar'.
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Valued Member
United States
245 Posts |
The government is hellbent on destroying middle Americas wealth for some reason, hang on if history repeats itself. Lock - N - Load!
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Replies: 24 / Views: 4,900 |
First Page
Posted 12/01/2009 1:20 pm
