The coming collapse in gold!

Discussion in 'Economy' started by Neubarth, Oct 19, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    I have been explaining the collapse in Gold that I said was coming, but nobody wanted to hear about it.

    Gold is just a commodity like Silver, Copper, Zinc, Corn, Wheat. Gold is used to electroplate some electronics and is used greatly in the Jewelry business. It is not money. It is not food. When push comes to shove and people in a severe crisis will need to eat, Gold will quickly lose value against eating for survival.

    Gold is hyped by shysters to no end. They make up outrageous lies that the governments of the world are going to go back on the Gold standard. The United States alone spends more money in a year than there are gold reserves around the world. No country is going to go back on the Gold standard.

    It would be more practical to go back on the Corn standard as there is a lot more of it and people can eat it.

    In reality, the US is on the Corn standard. Our dollar is backed by the productivity of the American people and by our natural resources that we can sell to the world for profit.

    The reality is that the US is many times richer than any other five countries put together. Our manufacturing is more than that of China and Japan put together. If we banned imports from those countries their economies would collapse. That is the reason why they keep their currencies valued way below that of the United States. They keep the dollar strong because they need to sell to us. Even Europe wants to see a strong dollar as long as we are buying more from them than we are selling to them. Funny how that works.

    Gold is worth what the Jewelry industry is willing to pay for it. Gold is subject to wide swings in price that is totally dependent upon the gullibility of people who buy it.
    That gullibility is totally associated with the hype from the shysters (like Ron Paul) pushing it to try to drive up the price so they can profit from the fools that are convinced via advertising that it is a good buy. I have seen gold CRASH in price several times in my life. It is due for a crash again.
     
  2. antagon
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    antagon The Man

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    another collapsalypse. :doubt:
     
  3. Douger
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    Douger BANNED

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    I agree. I also think the fools that bought paper gold don't realize more has been bought than exists in the earth.
    It's a scam.............like everything else murkin.

    Copper, nickel and aluminum are the three true "precious" metals.Zinc and cadmium are important too.Your electricity, surgical instruments, cooking utensils etc.
    Those and arable land are what supports life.

    The rest is bullshit speculation.
    Gold_____berg
    Silver_____stein
    Jew_______elry
    See a pattern here ?
     
  4. Valerie
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    Valerie Gold Member

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    I tend to agree gold is fixing for a retrace of it's ascension to these all time highs...I say sell.

    When you see every street corner with offers to buy your gold jewelry for cash that is a sign the market is reaching it's peak right now...



    BUT, here is an interesting article I read the other day:






    IMO, these type of projections are what keeps people buying from those who are now selling...That's what makes the market go round.
     
  5. loosecannon
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    loosecannon Senior Member

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    I like rare earth elements as a long term hedge against dollar depreciation!
     
  6. loosecannon
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    loosecannon Senior Member

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    There is something to your statement that since much of what is sold as gold doesn't exist that gold as it is being marketed may be hugely over priced. The premium between delivered gold and leased gold should probably be about 75% of the delivered gold price.

    Jew_____elry?
     
  7. Toro
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    Toro Diamond Member

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    I highly doubt we are seeing the end of the gold bull market.

    Bull markets end when monetary conditions are tight. Right now, they are very loose.

    Though I think we are at the beginning of a much needed correction, I would be surprised if gold didn't eventually go much higher.
     
  8. Valerie
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    Valerie Gold Member

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    Yes, the dollar is at an all time low and gold is at an all time high...I think at least a temporary retrace is due. Conditions have been so loose for so long the tightening is just bound to happen soon, IMO.




     
  9. william the wie
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    william the wie Gold Member

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    Being a contrarian I find your statement disturbing. Silver is outpacing gold at the moment so I was already counting on a short-term correction. But Hulberts gold-bug index is low on bullishness at the moment and it looks like a rise to DJIA=15+K is likely before May 1, 2011 due to QE II. But the rise will be on ever lighter volume if trends stay steady so I was expecting DJIA=5-K= 1 oz AU by Dec. 31, 2011. I hate finding out that people agree with my strategy.
     
  10. loosecannon
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    loosecannon Senior Member

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