| Gold-The only safe investment?
Posted: 2/21/2009 4:19:40 AM | Gold went over $1000.00USD on Friday February 20th 2009 and closed around $995.00USD. 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? How high do you think gold will get? Do you think a new regional currency will be created between the Mexico, Canada and the USA? If you do think these things are possible then what efforts are you making to protect yourself and your family?
I personally think things are gonna be rough in mid 2010.
I also think its very possible for gold to go over $2000.00 a OZ and possibly higher yet.
I do think we will have bad inflation but I don't think there will be hyperinflation since the Government will enact price controls. (But price controls do equal to long lines and create shortages)
I also think there is gonna be a whole new currency for North America in the near future.
Now my last question for any Europeans out there--Do you think the EURO will crash? | |
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| Gold-The only safe investment?
Posted: 2/21/2009 5:49:53 AM | I believe that everything that is currently happening is purposely done to enact the New World Order.
The redistrubition of wealth has happened.
Now we only have the truely needy and the truely greedy.
The International Banking People set all of this in motion.
228 families used to own 47 percent of the worlds wealth.
Now they own 51% of the worlds wealth.
This is a BIG change in very little time.
The richer people will now be able to buy everything thing they want at a discounted price.
This includes ecomomical SLAVES.
The world is full of Kings and Queens that will blind your eyes and steal your dreams.
Next they will be coming after everyones guns.
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| Gold-The only safe investment?
Posted: 2/21/2009 6:00:20 AM | | Not sure,but read china's on a major shopping spree, buying up everything and cheap! I bet that worries are goverment like hell! | |
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| Gold-The only safe investment?
Posted: 2/21/2009 6:54:01 AM | | I don't think we'll ever see a North American currency like Europe did with the Euro. There's too many differences with the way our currencies are valued. The Canadian dollar is tied to commodities like gold and oil,and even though gold is high it's the price of oil that's hurting the Canadian dollar right now. When oil was $140 a barrel our dollar was worth more than the american dollar for a while,but now it's back around the 80 cent mark. | |
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| Gold-The only safe investment?
Posted: 2/21/2009 2:33:37 PM | | USA wont do away with the US$ because you all want cheap gas. When the government want to buy crude they just print wads of new bills and hand them over in exchange. Printing new money usually causes inflation but when the cash is going into foreign banks it stays there. | |
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| Gold-The only safe investment?
Posted: 2/21/2009 5:44:12 PM | Gold is a commodity. Its value rises and falls. Yes, it's conceivable it might reach $2,000/oz, but it's also conceivable it may drop to $500. CDs are the most conservative investment, gold is among the riskiest. Be leery of any broker who diminishes or fails to explain the risks.
Printing new money usually causes inflation but when the cash is going into foreign banks it stays there.
The amount of currency in circulation is a small fraction of the total US "money" in the economy.
* There is about $829 billion dollars of U.S. currency in circulation; the majority is held outside the United States.
* The Federal Reserve Banks distribute new currency for the U.S. Treasury Department, which prints it.
* Depository institutions buy currency from Federal Reserve Banks when they need it to meet customer demand, and they deposit cash at the Fed when they have more than they need to meet customer demand.
http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html
The economy of the United States is the largest national economy in the world. Its gross domestic product (GDP) was estimated as $14.3 trillion in 2008. The U.S. economy maintains a high level of output per person (GDP per capita, $46,800 in 2008, ranked at around number ten in the world). The U.S. economy has maintained a stable overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment funded by both national and, because of decreasing saving rates, increasingly by foreign investors. In 2008, seventy-two percent of the economic activity in the U.S. came from consumers.
Major economic concerns in the U.S. include external debt, entitlement liabilities for retiring baby boomers who have already begun withdrawing from their Social Security accounts, corporate debt, mortgage debt, a low savings rate, falling house prices, and a large current account deficit. As of June 2008, the gross U.S. external debt was over $13 trillion, the most external debt of any country in the world. The 2008 estimate of the United States public debt was 73% of GDP. As late January 2009, the total U.S. federal debt exceeded $10.6 trillion, about $34,700 per capita.
http://en.wikipedia.org/wiki/Economy_of_the_United_States | |
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| Gold-The only safe investment?
Posted: 2/21/2009 9:32:28 PM | | For the average person buying gold makes no sense, you have to buy it retail, sell it wholesale, it has to gain 40% just to get your investment out of it, and when it's high no one will buy it. And why buy it when the price is high in the first place. If we keep sliding into a depression, you can't eat it, most people's homes aren't equipped with a safe heavy enough someone won't just carry off. If you don't have physical possession of it, then you're in the hands of some "investor, and these days that seems to mean some fat cat just stole you money and is in jail in his multi million dollar penthouse and you have squat | |
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| Gold-The only safe investment?
Posted: 2/22/2009 12:31:43 AM | You can always buy old/new-gold/silver coins and sell them on ebay or to a coin shop/collector.
And if nobody is able to buy them in the USA, then fly to another country where there is a market for them. Perhaps somewhere in Europe or Asia. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 12:47:10 AM | | No Gold isn't the answer, it will fall too just like everything else. Gold is like a stock market the value of it rises and falls. it maybe worth more then you paid for it one year and be less the next. It all depends upon how much demand there is for it at a particular time to determine it's worth just like everything else. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 3:51:57 AM | Gold is used in computers and other electronics.
The demand will continue to be there as long as we are building electronics. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 4:24:17 AM | | Yeah but it's a small fraction though of the entire metals that make up a circut board now. Not to mention the gold strips found on circuit boards consist of other mixtures of metals as well so it isn't pure . The vast majority metals found in modern circuit boards consist of copper and aluminium. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 4:34:11 AM | I understand why people flock to gold especially during uncertain economic times.
But would you want to put your money into gold now that its already over $1000 an ounce and how much of your savings would you be willing to invest? | |
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| Gold-The only safe investment?
Posted: 2/22/2009 7:01:34 AM | Food commodities. That will go up in the next few months.
Wish I had a dependable puter, and high enough speed to play a bit on the market myself! I think they call it being a "day trader".
Anyhow's....real estate always goes up at some point. Lots of opportunities right now to buy cheap.
Perhaps areospace technology and such will be marching up....I hear the States are going to put a bundle into manned space flights again within the next few years...the push to Mars and a base on the moon is going to be really heating up soon. With OBama in office, I can see that happening. Reminds me a lot of Kennedy. With the economy going into the crapper, a big expensive cause like space exploration will get things rolling. Idiot Americans aren't using their "wartime economy" to help themselves, so somehting else has to work. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 7:18:24 AM | | Gold? What can you buy with gold? The world hasn't really used gold as money for centuries and it probably isn't going to start again any time soon. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 7:44:59 AM | Personally, If I want gold, I will go into the woods and get gold.
I studied many things and gold was one of them.
I know where gold was found through-out the US and several other countries.
I know how to find it and how to process it.
I even know where there is gold in this county I live in.
During the last depression, many people went prospecting for gold and gems in order to survive.
If things get bad enough, I will too.
Pyrite doesn't dissolve into mercury.
When looking for gold, first you must find black sand which is magnetite.
I have found it already and know the gold is there.
You can find iron without finding gold but you cannot find gold without finding iron. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 8:34:57 AM | And if you sell to a shop or collector they will only give wholesale price for it, if you bought it from them the day before for retail you lose your asset, coin/pawn/gold buyers are in it to make a buck, sell to you high and buy it back low
These companies who advertise gold on television, right up front tell you they have a 30 day guarantee they will buy it back for what they sold it to you for, after that rots o ruck | |
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| Gold-The only safe investment?
Posted: 2/22/2009 8:40:24 AM | Gold has gone up just about every year since 2000 with 2008 being a slower year.(2000 it was around $300.00 a oz to 2009 at about $995.00) It cant go up forever but the real question is how low will the dollar go? I think were gonna see a gold explosion soon since the American and European central banks have been selling off all their gold supplies in order to keep the prices low. While the Asian central banks have been buying up gold supplies in a hurry. There will always be a market for gold and other precous metals. Even jewelry is now being made out of silver and plated with gold to keep the cost for the consumer down. Maybe $1000.00 dollars a OZ will look like a bargin or maybe not.
If gold was such a bad investment maybe the US Government would have never went through with the 1933 gold seizure. Which totally violates the U.S. Constitution as does our current monetary system. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 8:52:41 AM | Along with the gold seizure the US government claimed many gold bearing areas and built army bases on top of the glod.
They also declared some gold bearing areas to be bombing sites to keep people from the gold.
Arizona and Nevada are some good examples. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 1:00:36 PM | | Gold has not been traditionally the best way to outperform the market, it is usually meant as a go-to place when the market tanks. Sorry to burst your bubble. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 1:13:17 PM | To the above message
I suppose real estate and stocks are better then gold. LOL. I'll take real wealth over paper wealth any day of the week. I don't see much of a market in copper, stainless steel and aluminum jewelry. Gold is easy to transport and easy to sell. The rise of gold since 2000 has been steady while the market has been up and down since 2000.
Gold is not something you go into to make money, it's more about preserving your wealth. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 8:33:51 PM |
Gold has not been traditionally the best way to outperform the market, it is usually meant as a go-to place when the market tanks. Agreed, watch for the big selloff of Monday
How high do you think gold will get?
We've reached the top, time to sell.
Do you think a new regional currency will be created between the Mexico, Canada and the USA? In a perfect world yes. Don't see it happening in my lifetime, not that I'm against it but it would sure harm trading and production for Mexico & Canada.
At the moment, gold is at $985.52 lets see what it opens tomm... | |
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| Gold-The only safe investment?
Posted: 2/22/2009 9:28:46 PM | | Personally i think your best bet right now would be firms like debt collection agencies - the big ones - no way they are going out of business any time soon. | |
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FrmGuy
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Joined: 1/21/2009
Msg: 24 | |
| Gold-The only safe investment?
Posted: 2/22/2009 9:42:55 PM |
And if you sell to a shop or collector they will only give wholesale price for it, if you bought it from them the day before for retail you lose your asset, coin/pawn/gold buyers are in it to make a buck, sell to you high and buy it back low
These companies who advertise gold on television, right up front tell you they have a 30 day guarantee they will buy it back for what they sold it to you for, after that rots o ruck
Not true.
Some Jewelery stores sell gold coins (canadian maple, etc..) at market price + tax or market price + "premium". "Premium" used to be around $20 until about 1.5 years ago, now it is around $40. After the prices rise, you can easily sell the coin back to any [willing] Jewelery store at the current market price.
I give you this answer from personal experience. | |
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| Gold-The only safe investment?
Posted: 2/22/2009 9:58:50 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. | |
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