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[Lifetime]

I have been reading some of the crap on Gold going to $1250/oz. I love all the commecials wanting you to buy it. We will never learn.... Gold is NOT all that. The price of gold has hit this point because of speculation...Hmmm where have we seen this..oh...yes...$150 barrells of oil? now at half that price as more is supplied to the market. Well folks, I hate to bust the bubble but the US of A has gold stockpiled in an amount much more than any other country. As the countries "speculate" and even try to SELL their stash... guess what.... the value to supply goes down. This "value of gold" is artificial at best. Remember when the Government kept the value of Gold at $32/oz...?? If the US Government wanted to, they could dump a load on the market and then we could watch the roaches head for darkness again.
 
Even the fees to buy, store, or certificate gold in any form, eats up a lot of perceived "profits". Where does an ordinary citizen store the gold they might buy?
 
In the end, gold..ie precious metals/gems, food and water will mean nothing.... your money is better spent on guns and bullets...at least with those, you will be fed, watered, clothed and secure. What will you do when the guns come to you, throw your gold at them??? Something is said of "A sucker is born everyday". You keep your gold, silver and diamonds... I will collect lead.... and maybe see you in the future LOL....when or if this country takes a deeper nose dive. *S*
 
Just my opinion.....

[Jayhawk]

yeah, one year crude is precious at $140 a barrel, the next year it's so worthless that drillers can just dump it in the ocean.

[NightmarePatrol]

Well it's the people with the product that want to drive the price up. As people gobble it up, they sell theirs and buy the next hot item, which will probably be silver I suppose.

[Lifetime]

 
I have seen hawkers for silver as well.... and NON hybrid seeds.... next it will be virgin farm animals....
 

Well it's the people with the product that want to drive the price up. As people gobble it up, they sell theirs and buy the next hot item, which will probably be silver I suppose.

[NightmarePatrol]

Keep the farm animals away from that guy you have down there! Or is he in jail now?

[E-L Man]

Can't wait o get the metal detecter fired up off the coast of South Carolina. Spanish booty roll-ins!   

[Lifetime]

http://www.cnbc.com/id/39395537
 
 
$1307 per troy oz.... When is this BS going to stop..... Gold is a constant...amout remains the same unless more is dug out of the ground... Hmmmm incentive or lack of ore?? Again.... these leeches what what for the GOLD..... DOLLARS!!! not silver or diamonds or even the first born. Now back to the dollars..... well....no limit on them...they print more everyday and this drives it's value...which direction? So...the more Gold goes up in Dollars , the more it stays the same or worse yet LOSES real value.
 
In all of this.... value will be measured in lead... not gold when and if it comes to that. If I had a pound of gold and pound of food.... people...you can't eat gold. So...those with the pound of bread will be the rich one ..... until the one comes along with 230gns of lead....I dread this but fear it could turn to that.... just read the headlines even today.... Africa.... Lead = Diamonds... even on the corner of Detroit... Lead = $5 and maybe a bling. It is a proven equation...it is up to us how widespread it gets. So I think I will continue to buy lead and the administrating devices.

[NightmarePatrol]

There was an article my wife was reading to me about that. After the depression the FRD administration began buying the gold (read confiscate) from the general population. They also also bought out many general bonds to shrink the monetary supply and drive the cost of the dollar up. This was all post new-deal stuff which was faltering and ultimately failed. The economy did not really turn around until we entered WWII. The parallels between the current administration and FDR administration plans and actions are different, but there's a LOT of similarities in their actions and reactions.

Despite with economist think-tank may say, we're still pretty deep in the weeds at the moment. Not to worry though, the profit taking will commence for those in-the-the-know. The rest will eat virtual losses and the feds will get their gold back at discount prices. I wish I understood how the gold market really works. It's more complicated that it looks when you get under the sheets.

[Lifetime]

Gold is a commodity...like grain and pork bellies *S*... The United States Government has more gold than ANYONE... It utilizes it to control values all over the world and can at ANY time make all those who dumped their dollars into the shiney stuff as poor as the Cratchet family at will. All they have to do is flood the market and buy it back at a very discounted price when everyone tries to dump it. Gold is one metal that never disappears...in fact.... gold mined centuries ago in South America or Africa, may be a part of our ear rings and rings even now. It is remelted and reformed.... in every electronic devices noadays and even teeth... Silver...on the other hand IS used up in Photography and even medications...so they have to keep mining it.
 
I heard an explaination of gold a while back..... A$20 gold piece, when issued, would buy you a great suit and a fantastic meal.... today, that same coin,today, is worth about ....a great suit and a fantastic meal....
 
We are allowing the advertisements to sucker us into thinking buying gold will make us millionaires... G Gordon Liddy isn't exactly who I want my kids to emulate... how boutchoo???
 
 

There was an article my wife was reading to me about that. After the depression the FRD administration began buying the gold (read confiscate) from the general population. They also also bought out many general bonds to shrink the monetary supply and drive the cost of the dollar up. This was all post new-deal stuff which was faltering and ultimately failed. The economy did not really turn around until we entered WWII. The parallels between the current administration and FDR administration plans and actions are different, but there's a LOT of similarities in their actions and reactions.

Despite with economist think-tank may say, we're still pretty deep in the weeds at the moment. Not to worry though, the profit taking will commence for those in-the-the-know. The rest will eat virtual losses and the feds will get their gold back at discount prices. I wish I understood how the gold market really works. It's more complicated that it looks when you get under the sheets.

[Jayhawk]

We are allowing the advertisements to sucker us into thinking buying gold will make us millionaires... G Gordon Liddy isn't exactly who I want my kids to emulate... how boutchoo???

I'm with you 100% on your analysis. Note that the same fearmongers on radio and TV talk shows are the paid pitch men for gold.

Meanwhile, on the other end of the deals: Coming soon to a Holiday Inn near you, a one-in-a-lifetime opportunity (OK, once a month) to sell your precious gold jewelry for pennies on the dollar. Or, if you don't trust some nameless nomad in a motel ballroom, you can toss your valuables in a bag and mail it off to a total stranger whom you can trust to give you an honest appraisal and top dollar.

Or... you could just take it to an established local jeweler whose kids play on your kid's team and whom you know where to find if the transaction was anything but above board.

[Zipper]

"I heard an explaination of gold a while back..... A$20 gold piece, when issued, would buy you a great suit and a fantastic meal.... today, that same coin,today, is worth about ....a great suit and a fantastic meal.... "

I just saw on the pawn show on TV ~a collector's gold coin sold for over $30,000.00.

But I can't argue that "lead" would be pretty valuable too.

Anyone else here see "The Road"?

[NightmarePatrol]

We saw it about a month ago. It's honestly a very depressing movie. My wife pointed out what she though was a continuity error when the lead character got shot in the leg with the arrow. She had never heard of an amusement park with apartments right on the edge of it.

Anyhow, it is a good movie but there were a lot of loose ends that they never tried to answer. Maybe I missed the point?

[Amidala]

Oh, The Road?  Anakin watched it. I only watched "the scene."

Wha... don't ALL amusement parks have apartments and houses right next to them??   ;-p

[Spicoli]

The United States Government has more gold than ANYONE

How do we know that?
If so, then I'm sure the Fed won't mind when Ron Paul introduces a bill next year to audit US gold reserves.
http://www.kitco.com/reports/KitcoNews20100824DC.html

[Jayhawk]

I just saw on the pawn show on TV ~a collector's gold coin sold for over $30,000.00.

yeah, but that's a single, odd, collectible coin... a fluke that hapened to appreciate well. But it's no reflection on the overall value of bullion or of collectable coins, stamps, antiques or baseball cards in general.