So what are the investing gurus thinking here? Au is on an absolute tear.
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I think for that graph to apply, one would have to make a drive thru out of Fort Knox.
Thats like saying a picture of your smashed up car after an accident isn't evidence of the car being damaged.
A couple of items I find appealing about the metals:
- There will be, for practical purposes, a floor price - it will never to go "zero", or 10% of current value - something that has even happened to fortune 500 firms.
- The asset exists outside the system. I wonder how many seniors on a medacaid spenddown for long term care wish they had squirreled some of their assets away in gold years ago.
However, the sellers ALWAYS have few standard arguments as to why now is the time to buy:
- Metal A is selling for less than the current cost of producing it from the ground.
- The ration for Metal A vs. Metal B is out of historical whack, so B is underprices (A is never overpriced; B is always underpriced)
>Is it a gamble?
ALL investing is a gamble. Even US securities carry inflation risk. Anyone who claims to have identified an investment that offers above market returns without about market risk does not understand the concept - even though their personal prediction for future price movement may very well turn out to be absolutely true.
Inflation? Deflation? No one really knows.
The likelyhood is that they will continue to take hits as the market corrects itself to more realistic proportions.
Cabinetman:2001359 said:10 years) or local CDs at your local banks (maybe a 2% rate
Rome
Gold fell off a cliff today. It's fallen; can it get up? LOL
u get TAXED even on UNREALIZED "gains" on taxes and most other investments. Nobody needs to know about your dealings in gold. That is the primary value in it for many of us survivalists. I don't say to put money into gold as an investment. I say put money into it that you can afford to do without for many years. Until you have shtf skills, gear, and food, tho, wait on the gold buying. Buy 1/10th oz coins, no premium charged, at The Coin Shop, Farmington, NM> YOu can cut them in 1/2 with a chisel, they will still be accepted. use 1/2 to buy a bushel of grain, not a loaf of brain. Crack the grain and make porridge,it is far more efficient than making floor and bread, or noodles.
I have to disagree with some of what you say.
I think gold is going to $5000 at some point. When that happens I suspect you will have a tough time selling it without the .gov knowing about it. The "war on terror" already has given them the tools to find odd financial transactions....figure it out.
1/10 coins have a HUGE premium! 1/20 maples are going for $123.25 thats $2465/oz compare that to a 1oz maple which is $1908.
If you came to me post SHTF with a 1/20oz coin chiseled in half asking for a bushel of apples I would probably not take it since I have no idea how much gold is actually in the thing. I don't plan to have a gram scale in my BOB! Small transactions is what junk silver is for....a $100 face value bag can be had for $0.56 over spot per oz.
not at the shop I sent you to. I bought them there at spot price. I would take that 1/2 of a gold coin in a HEARTBEAT, if I had apples to spare. apples SPOIL, dude. Durability and readiness of carrying and durability are one of the main reasons metals were chosen as money.
post a link.
My point is that gold is a way to protect a large amount of cash against .gov stupidity. For large purchases post SHTF sure gold works, for a basket of apples silver is better.
I wont risk being shot, or catching a contagious disease, for something for which I won't give 1/2 of a 1/10th oz coin of gold .In fact, all my trading will be done by the dead drop method, for years after shtf starts, if I can possibly arrrange it, and I will be trading stuff that I can replace, if I can arrange it. Pelts, dried meat for fish, edible wild plant products and the like. Send them a message-arrow, where to look for a flag, note left under flag, leave products there. Start small, and WATCH them, to see if they poison anything, etc.
PMs are in a bit of a dip right now. I hope it goes down towards $35 again so I can buy some more. I am confident that in the long run, it will be a wise investment. If not, I'll melt it down into werewolf bullets.This thread has gone quiet but gold and silver have been very active. So whose buying what now that the President gave his speech today and Greece and Italy are starting to swirl down the bowl? I am broading my position in silver. QE3 or Twist or whatever you want to call it will drive down growth and the dollar along with the global debacle. $2,125 gold and $65 silver by end of year or its $1 menu McMuffins for everbody on me (you'll have to buy your own coffee i wont be able to afford it)!![]()
PMs are in a bit of a dip right now. I hope it goes down towards $35 again so I can buy some more. I am confident that in the long run, it will be a wise investment. If not, I'll melt it down into werewolf bullets.
ask and you shall receive... Silver is $30.80/oz right now. down 15% in one day!