Buy a tiny bit of gold FIRST

[Orangecat]

Then why would dealers sell gold?

Because they sell it for more than they paid for it. Just like any other commodity.

 

[catatomic]

How many ADS tell you to buy gold? Using what? Dollars of course. So to the seller of gold, dollars are more valuable than their gold. Why else would they sell you GOLD.

But for the hell of it, if you want to experiment, buy a small bar. Take it with you to shop. Try to hand it to the clerk. The Clerk won't take it. And that my friends is why not to buy gold. You sell gold at a loss. The buyers discount the price. Ask them if you doubt this. I learned this years ago from a Coin Dealer who sold precious metals. My oldest daughter wanted gold. I got gold for her. She never was able to use it at stores. And the dealer took it back after his discount. Some want us back on the Gold standard. Why when you get rid of it at a discount?

When I became Raelian (I switched back to the church of Jesus Christ of Latter-day Saints) they had a bucket full of silver Raelian medals. I probably could have bought one cheaply. I think it was a long term investment of them.

Since I didn't get one there, I ended up buying one for about $120 and I found out later that I could only sell it for $5. I hold on to it.

 

[Robert W]

When I became Raelian (I switched back to the church of Jesus Christ of Latter-day Saints) they had a bucket full of silver Raelian medals. I probably could have bought one cheaply. I think it was a long term investment of them.

Since I didn't get one there, I ended up buying one for about $120 and I found out later that I could only sell it for $5. I hold on to it.

Is that a religion? I am a LDS so that i know about.

 

[Robert W]

Because they sell it for more than they paid for it. Just like any other commodity.

So Gold is so inflationary that you must make profits?

 

[Robert W]

Because they sell it for more than they paid for it. Just like any other commodity.

I am not clear if we missed our points or not. I was saying if gold is that damned great and dollars so terrible, why would they sell what was the best of all?

 

[Orangecat]

So Gold is so inflationary that you must make profits?

Gold is stable. Buy low from the numbskulls who think it’s a panacea, hold on to it, and resell it to people who know how to diversify their investments. If those concepts are too complex for you to understand, go buy a bunch of gold and resell it next week, kid.

 

[Orangecat]

I am not clear if we missed our points or not. I was saying if gold is that damned great and dollars so terrible, why would they sell what was the best of all?

Gold is a historical store of value. Dollars fluctuate, and the mass printing only decreases their value and stability. If you don’t understand the value of stability, you shouldn’t be investing in gold.

 

[catatomic]

Gold is a historical store of value. Dollars fluctuate, and the mass printing only decreases their value and stability.

According to

Principles for Dealing with the Changing World Order: Why Nations Succeed or Fail​

countries either devalue their currency or their country dies. They can use gold and silver, but then who does it belong to? I'm not sure gold and silver are good things for moral reasons.

 

[Orangecat]

I'm not sure gold and silver are good things for moral reasons.

What makes gold/silver bad for morality?

 

[catatomic]

What makes gold/silver bad for morality?

I don't honestly remember.
However one question is if a country relies on silver/gold how do they decide who keeps it and protect the people who don't have some?

 

[Concerned American]

I don't honestly remember.
However one question is if a country relies on silver/gold how do they decide who keeps it and protect the people who don't have some?

Countries don't ever actually exchange anything--its all on paper. Gold used to be what our currency was backed by until the 70s, I believe. I think Nixon opened up gold ownership to all and based our currency on a percentage of GDP. Gold was the standard for so long because it was and is value stable.

 

[Orangecat]

I don't honestly remember.

That doesn’t make for an engaging debate.

However one question is if a country relies on silver/gold how do they decide who keeps it and protect the people who don't have some?

Why do you think it’s the responsibility of government to decide who keeps gold and how to protect people who have none?

 

[Robert W]

Gold is a historical store of value. Dollars fluctuate, and the mass printing only decreases their value and stability. If you don’t understand the value of stability, you shouldn’t be investing in gold.

I don't invest in gold. I think that the fiction is it is better than dollars.

 

[Robert W]

Gold is stable. Buy low from the numbskulls who think it’s a panacea, hold on to it, and resell it to people who know how to diversify their investments. If those concepts are too complex for you to understand, go buy a bunch of gold and resell it next week, kid.

You a fan of Ponzi? And I am 85 and am not your kid.

 

[Concerned American]

I don't invest in gold. I think that the fiction is it is better than dollars.

Over time it is.

 

[Robert W]

Over time it is.

Tell us all How that works Carnac?

comedian johnnie carson wise adviser - Google Search

www.google.com

 

[Concerned American]

Tell us all How that works Carnac?

comedian johnnie carson wise adviser - Google Search

www.google.com

Gold was worth $32 in 1972. Today it is worth ~$1800 conservatively -- about 56 times what it was worth in 1972. The dollar on the other hand is worth less than it was in 1972. I gave an example of this with an analogy of what 23.5 oz would buy. One hundred years ago, that 23.5 oz ($750) would by you a Ford. Today, you would still be able to buy a new Ford for 23.5 oz but it would translate to over $42K.

 

[DudleySmith]

Gold is a historical store of value. Dollars fluctuate, and the mass printing only decreases their value and stability. If you don’t understand the value of stability, you shouldn’t be investing in gold.

Or anything else; he should just buy staples and stockpile stuff like toilet paper to beat the prices rises in dollars as they devalue.

 

[Orangecat]

I don't invest in gold. I think that the fiction is it is better than dollars.

To each his own. There's no fiction to the fact that dollars are printed by the billions on paper, and have less buying power every year, while gold is mined and has been the benchmark of value throughout modern human history.

 

[Orangecat]

You a fan of Ponzi?

Not particularly. You?

And I am 85 and am not your kid.

Your grasp of the value of gold is childish, regardless of your age.