Gold's Real Value?...

[Book of Jeremiah]

Gold is in a bubble right now. It will burst like every other bubble.

Not physical gold and silver. You are talking about etfs ( electronic tranfer funds ) gold on paper - George Soros dumped all of his paper gold almost a year ago. ( may have been longer )

PM's are what back our currency. There won't be any bubble on owning physical gold or silver. That is nonsense.

 

[mal]

The Economy started showing signs of Recession in 2000 and was in.one in 2001... then something happened that changed everything. What was that again?...



peace...

That's right... 9/11... Followed by (2) Wars and Constant and Obsessive Coverage of anything less than Perfect from the Economy for the Duration of the Bush Presidency.

Hell, the "Free Press" went from Stories of "25 Years of Surpluses and Growth" in January of 2001 as Clinton Left to "Recession for Bush" 40 days later... And they never stopped with that Dishonesty.

It went from around $700 (Lower than it's peak in 1983) to about 1,900 during the worst of this Generational Correction over about 4 years.

It's now trending downward and and has since about January of 2012 with a pretty hefty Spike down this year.

The Bottom for me once this Generational Correction is Complete is going to be $7-800 an ounce.

Again, that was the Peak in 1983... 30 fucking years ago.

Gold is an Emotional Investment.

Barring some Event, I don't see Gold as a good Investment right now at all.

And it hasn't been since end of Summer in 2011... Actually, the WORST Investment was paying $1900 an ounce that year.

My Brother said then that by Christmas it would be at $2500.

It actually went from $1900 down to $1500 instead.

He still owes me a bottle of Crown.



peace...

 

[Book of Jeremiah]

Gold is in a bubble right now. It will burst like every other bubble.

but not likely to go lower than the $635/oz I think it was I paid. At least in the rest of my life.



Real value is totally subjective. It's value is whatever someone wants to pay for it.
Just like the value of anything else.

Hold onto your physical gold and silver. ( dump anything else ) You may be using it soon. Did you hear the latest news?

The state of Arizona may become the second state to use gold and silver coins as legal tender.

A few weeks ago, Arizona lawmakers passed a bill that makes precious metals legal tender. Arizona is the second state after Utah to allow gold coins created by the U.S. Mint and private mints to be used as currency. More than a dozen states have legislature underway to pass similar measures.

The move was launched by people who fear the Federal Reserve is not tackling the federal deficit and is thus debasing and devaluing the dollar. Some even fear, that if the Fed continues on the existing path it could lead to hyperinflation.

Miles Lester, who represents a group called Arizona Constitutional Advocates, said during a recent public hearing on legal-tender legislation that "the dollar is on its way out. It's not a matter of if; it's a matter of when."

Using gold and silver as currency would protect people from inflation, currency debasement, predatory banks and an increasingly volatile and vulnerable financial system.

Utah has had the law on the books for the past 2 years and is working on a system for using the precious metals as currency.

The debate on whether gold and silver should be used as an alternative currency will continue and deepen as people realize how fiat currencies are set to be devalued in the coming months – potentially sharply.

A 10-15% allocation to physical bullion in your possession or in allocated accounts remains crucial to all wishing to protect their wealth from wealth confiscation. Whether that be by inflation or by pension, brokerage account or deposit confiscation – all of which have been seen in recent months and will be seen again.

 

[there4eyeM]

All value has a common source; what value people place on something.

Gold, like everything else, has absolutely no value of itself. People like it and want it, so they assign value. All values in the universe exist because we, humans, create it.

 

[Book of Jeremiah]

Bottom line = Gold is "precious" only so long as enough people agree that it is........


Physical gold is precious whether anyone says it is or not.

When the dollar crashes would you prefer to own the worthless paper or physical gold and silver?

 

[Book of Jeremiah]

All value has a common source; what value people place on something.

Gold, like everything else, has absolutely no value of itself. People like it and want it, so they assign value. All values in the universe exist because we, humans, create it.

Soros dumped all his paper gold and invested in gold mines on continent of Africa about a year ago. Someone should tell George Soros he is investing in something that has absolutely no value because the market says so. lol!!!

Do you always believe the news media?!

 

[Book of Jeremiah]

The Economy started showing signs of Recession in 2000 and was in.one in 2001... then something happened that changed everything. What was that again?...



peace...

That's right... 9/11... Followed by (2) Wars and Constant and Obsessive Coverage of anything less than Perfect from the Economy for the Duration of the Bush Presidency.

Hell, the "Free Press" went from Stories of "25 Years of Surpluses and Growth" in January of 2001 as Clinton Left to "Recession for Bush" 40 days later... And they never stopped with that Dishonesty.

It went from around $700 (Lower than it's peak in 1983) to about 1,900 during the worst of this Generational Correction over about 4 years.

It's now trending downward and and has since about January of 2012 with a pretty hefty Spike down this year.

The Bottom for me once this Generational Correction is Complete is going to be $7-800 an ounce.

Again, that was the Peak in 1983... 30 fucking years ago.

Gold is an Emotional Investment.

Barring some Event, I don't see Gold as a good Investment right now at all.

And it hasn't been since end of Summer in 2011... Actually, the WORST Investment was paying $1900 an ounce that year.

My Brother said then that by Christmas it would be at $2500.

It actually went from $1900 down to $1500 instead.

He still owes me a bottle of Crown.



peace...

Make sure you collect on that debt. I've got a feeling you'll be needing it in the future.

 

[editec]

^I Found that... But I was Thinking before I Looked it up that I Remember Gold being $700 or so an oz. a few Decades ago...

Inflation Factored in, Today's "Record Highs" aren't really...

Are they?



peace...

I remember that run-up in the price of Gold.

It when from about 130 to about 800 in a matter of a couple months.

Saudi Arabia announced that they were converting 10% of their petro dollars into gold.

I tried to convince my father to buy gold, then, but of course I was a young man and my father didn't really understand the significance of that very modest bit of news that I found in the WSJ.

Seriously it was massively downplayed at the time.

the Saudi's announcement of their intention was like buried deep in the WSJ, and it was just a blurb, not even a full story.

Of course the gold bugs all saw it soon enough and the price of AU went up about 400% in no time flat.

 

[mal]

I'm heavily Invested in Lead and it's Various Distribution Devices... If the End is Coming, I ain't luggin' around a bunch of Fucking Gold...



peace...

 

[there4eyeM]

All value has a common source; what value people place on something.

Gold, like everything else, has absolutely no value of itself. People like it and want it, so they assign value. All values in the universe exist because we, humans, create it.

Soros dumped all his paper gold and invested in gold mines on continent of Africa about a year ago. Someone should tell George Soros he is investing in something that has absolutely no value because the market says so. lol!!!

Do you always believe the news media?!

Why trust the media when reality is the teacher?

 

[editec]

Look, kids for about a million bucks in naked contracts one can easily manipulate the world's gold prices.

And if one happens to be both the buyer and the seller of those naked contracts then the cost is even less than that...then the real cost is merely the cost of brokerage.

Do you NOT understand how easily big capital can manipulate the price of gold to make a killing from the pubic under those circumstances?

The amount of gold trade in NAKED FUTURES CONTRACTS exceeds the total amount of gold that exists.

Do the fucking math!

 

[there4eyeM]

Look, kids for about a million bucks in naked contracts one can easily manipulate the world's gold prices.

And if one happens to be both the buyer and the seller of those naked contracts then the cost is even less than that...then the real cost is merely the cost of brokerage.

Do you NOT understand how easily big capital can manipulate the price of gold to make a killing from the pubic under those circumstances?

The amount of gold trade in NAKED FUTURES CONTRACTS exceeds the total amount of gold that exists.

Do the fucking math!

Now you're asking too much, 'tec. You risk shattering the myth!

 

[mal]

Creepin' down towards the 1,100s today...



peace...