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FrmGuy
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Joined: 1/21/2009
Msg: 27 | |
| Gold-The only safe investment?
Posted: 2/22/2009 10:31:15 PM |
I'm devil's advocate. Here's your problem: who's going to buy it?
The cars GM is trying to sell are worth $30,000. However, credit is seized and nobody really has the cash. So, while the product is worth a particular amount, it doesn't mean you'll be able to sell it for that amount.
If we get to the worst-case scenario. Such as, inflation during the Depression in East Germany; gold is the only thing we can count on. Money is gonna be nothing more than what it really is - paper. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 11:12:00 PM |
My real question is does anyone out there think the US Dollar will crash to the point where we people in America will have really bad inflation?
Actually, no. I think there is a risk of deflation, with the dollar dramatically increasing in value against other currencies, causing problems with US exports.
How high do you think gold will get?
I think rampant speculation may drive the price up to $1,500 before it crashes.
Do you think a new regional currency will be created between the Mexico, Canada and the USA?
Not in this century. With debit cards replacing paper currency, it won't be relevant within a few decades.
Personally, I spend less than $20 of paper currency a month, for nearly all other spending I use a debit card, especially on those rare trips to Mexico or Canada. | |
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| Gold-The only safe investment?
Posted: 2/23/2009 12:11:22 PM |
I don't see much of a market in copper, stainless steel and aluminum jewelry. Look, again... stainless is gaining speed, and going mainstream in the jewelry arena, just in the last 6 months. Gold plated at that - the new vermeil. | |
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| No such thing as a 100% "safe" investment..
Posted: 2/23/2009 12:18:53 PM |
I also think its very possible for gold to go over $2000.00 a OZ and possibly higher yet.
anything is "possible"..
but 'probable' ?
people always get excited when they see prices rise sharply, and tend to project with straight-line thinking.
remember "tech stocks"?? (pre-2000) > or real estate, until recently..?
those were 'sure things' too, right./ .. until they weren't any more..
too bad for you in the4 musical chairs game if you couldn't get a chair when they cried out "stop!"
if you check your history, the last time there was a huge 'gold rush' (desire to buy gold) was around 1979-80; it spiked up to about US$850/oz. and people were lining up to buy..many predictions of US$2,000 an ounce back then.
shortly afterwards, it tanked..all those who bought at around $800-850 about 30 years ago.
maybe are 'breaking even' by now..well nto really considering inflation, a 2009 $ is worth less than 30% of a 1979 $
also gold has zero returns, actually cost $ to store and safeguard
plus if things get as 'bad' as some people think they will gold wouldn't help much; people with weapons would just kill you for food, water, etc. | |
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| Gold-The only safe investment?
Posted: 2/26/2009 7:28:04 PM | Gold always retains a value, but the definition of money is very subjective. The dollar may continue to crash, but the majority of people will not likely invest in gold. Their paper dollars, though more prevalent and less valuable, will still be of meaning (and therefore value) to them.
The best bet on the gold standard or precious metal currency is to have a local currency. | |
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| Gold-The only safe investment?
Posted: 2/26/2009 9:08:56 PM | the problem with the USA is that they don't have the gold to back their currency.
sorry, but i'll stick to blue chip stocks
if worse comes to worse i'll be stocking up on things people really need. Toilet paper, cigarettes and booze. in hard times they'll be worth more than gold. | |
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| Gold-The only safe investment?
Posted: 2/27/2009 9:11:22 AM | As a Numismatist myself I see a great many people really don't understand precious metals. Currency can and does fluctuate and can even become worthless, the same can not be said of precious metals. Yes, it rises and falls in value but never does it become worthless. For the precious metal foundation is based on the time honered barter system, a much more dependable system of trade and value. It's value is the same world over unlike various countries currency exchange rate. Furthermore, exchanging the metal for currency is not at all difficult.
Silver, Gold, Platinum, Palladium, Brass, Bronze, Copper, Aluminium, and Iridium are what compose the vast majority of metals. However, when people speak of precious metals they generally are speaking of Gold, Silver and Platinum.
No, metals are not good ways to invest, but they are secure ways to protect the value of your wealth. I've made huge sums over the years when others were losing in their 401k's and playing the stock market. Some years are better than others but in general precious metals will give a great return, far better than most stocks, mutual funds, and CD's, etc...
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| Gold-The only safe investment?
Posted: 2/27/2009 9:17:52 AM | ^
Currency can and does fluctuate and can even become worthless, the same can not be said of precious metals.
if the US $ becomes valueless I think you'll have greater problems than worrying about investment returns.
surviving on the street when the 'law of the jungle' takes over, for one | |
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| Gold-The only safe investment?
Posted: 2/27/2009 10:37:52 AM | If the US dollar crashes I think we will have to worry more about the military and UN troops then one another.
There will be no "Surviving on the street." The UN won't let that happen nor will the US Government. | |
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| Gold-The only safe investment?
Posted: 2/27/2009 11:44:29 AM | Great! I was given a gold-pan for christmas! I know how I'll spend my weekends this summer!
Seriously though, Canada is the ONLY country in the world with the gold bouillon to back up its currency. Seeing that that is true - our currency should be worth more on the traders market than it is...
Uninhabited land is also a safe investment for the long term. Houses can depreciate, but vacant land seldom ever goes down in value. Especially if it is in a good location. | |
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| Gold-The only safe investment?
Posted: 2/27/2009 1:48:16 PM | Just a few quick notes to what I've seen so far
1) if the US dollar depreciates to the point where it's given up - nothing will happen. We'll just switch to the new stronger currency. How do we know this - well it happened 50 years ago when we went from the pound to the dollar.
2) To the people who are saying that we should be investing in gold right now, but they are basically saying buy high, sell low. I suspect that they are stock spammers, trying to push up the price of their own investments. Gold is counter cyclical, meaning it is appreciates in value when stocks depreciate in value. Therefore, the best time to have bought gold was when stocks were high, not now when everyone is fleeing into it. It really is too late to buy into gold - last october or even earlier was the right time. There's a lot of speculative action happening right now, and that is not a good way to invest.
3) We don't want to abandon fiat money - it allows for governments to have increased flexibility - especially in regards to monetary policy. | |
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| Gold-The only safe investment?
Posted: 2/27/2009 5:01:12 PM | There has been a movement within Washington DC that isn't broadcast on your nightly news. Some elected officials have in private been favorable to the idea of an"Amero" the NAFTA equivalent to Europe's "Euro".
I don't see it happening as it would devalue the currancy's already in use by those countries in NAFTA. It would do the most harm to Canada as their money is pretty much rock solid. Mexico would benefit the most if approved whereas the USA would receive no advatage, in it's adoption what so ever.
You will hear the doom and gloom types exclaim Precious metals is the only thing of value should WWIII break out. We'll beside the unexpected commet striking the Earth in the future. I don't recommend anyone selling all they own and buying precious metals and moving to the secluded mountians of Idaho. Where you can await the total collapse of the rest of the world. Nevertheless, and as demented as those social types are their right about one thing. Gold and Chickens are never worthless but a nations currency can be.
Precious Metals are a nice profitable hobby, and nothing more. While precious metals are traded as a commodiate you really can't see it the same as corn and wheat. Stocks do much better if invested into wisely, and that's the major reason why so many lost so much recently. They failed to mind their wealth, you just can't lot a % of your paycheck into a 401K and not mind the store. This market crash was so predictable a 6 year old could spot it. The housing market exploded rasing prices of homes. Loans were being given away to just about everyone. Then sweet crude went through the roof. I knew the crash was about to happen when Oil went sky high and pulled out of everything altogether. I used short term CD's and basically set on a large sum of cash so I could jump back in when the market was tanking. I made my largest moves in October and November but I also reinvested in the stocks in December. I know that they will climb in value triple fold over the next 5-10 years.
As one poster said about precious metals:
Gold is counter cyclical, meaning it is appreciates in value when stocks depreciate in value. Therefore, the best time to have bought gold was when stocks were high, not now when everyone is fleeing into it. It really is too late to buy into gold - last october or even earlier was the right time. There's a lot of speculative action happening right now, and that is not a good way to invest.
He's exactly right! I was on a spree all across the planet back in October and November gathering what I could find as few would sell. However, precious metals currently are still not overpriced, they are just about where they should be even if we had a good stock market. That's the problem the stock market isn't good and the jump really hasn't taken place. However, I see the prices climbing much like in 1982. You don't want to buy when it's near it's zenith and we are no where near that mark. So, $1000 a troy ounce and under for Gold is still a good buy. Silver and Platinum are better investments, as they are far more widely used in goods manufactured. They are also the two metals that is the least recovered once used in manufactoring, this especially so in silver. | |
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| Gold-The only safe investment?
Posted: 2/28/2009 7:35:19 PM | | I've been watching my investments shrink. I wish I had bought more real estate. Real estate is still doing really well in Canada. Hard to believe by the prices of houses in Newfoundland actually increased 20% in 2008. | |
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| Gold-The only safe investment?
Posted: 11/6/2009 1:30:48 PM | India’s central bank just bought 200 metric tons of gold from the International Monetary Fund which has further increased Gold's overall value. Currently it's around $1100.00 an ounce. Some people are saying it very well could go to $5000.00 an ounce. I'm thinking maybe more like $3000.00 an ounce. I highly doubt we will see gold under $900.00 US Dollars per ounce ever again. What do the rest of you think?
Post #28-(Below)
Actually, no. I think there is a risk of deflation, with the dollar dramatically increasing in value against other currencies, causing problems with US exports
Well at the current moment other currencies are increasing in value over the US Dollar. And it looks like the risk of deflation that you thought we may be facing is nothing to worry about. Our real risk will be inflation. | |
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| Gold-The only safe investment?
Posted: 11/6/2009 1:41:58 PM | | Ammunition is better. Since 2001, it has quadroupled in price for XM193. 400% return in 8 years owns. Firearms as well, but not to the same degree. | |
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| Gold-The only safe investment?
Posted: 11/6/2009 1:48:17 PM | ^^^ ^^^
Yes that I do know. A few years ago you could buy 1000 rounds of 7.62x39 Russian Hollow points for $80 dollars. Now its like $200 dollars for 1000 rounds.
Obama did one heck of a job stimulating the gun and ammunition sector of our economy. He was awarded the Nobel Peace prize and now I'd like to nominate him for gun and ammo salesman of the year.:laugh | |
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| Gold-The only safe investment?
Posted: 11/6/2009 4:23:13 PM | | What good will Gold do you in a bankrupt nation with a collapsed infrastructure and social anarchy...just another disaster scam to make people think they will be alright when the excrement contacts the rotary oscillator... a joke....something for "it can't happen here" Americans to feel good about. | |
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