Posted on 09/14/2010 12:39:46 PM PDT by NormsRevenge
I'd sell it at the first indication that the government is going to balance its budget and rein in its trade deficit.
Which at this point looks to be the day after hell freezes over.
Good and LOL.
Let’s just go back to $20/oz. and reduce all outstanding debt to two cents on the dollar; even Greenspan thought a gold standard would be a good idea - just not politically possible.
Cash out? And play “pick the fiat currency”?
The fate of the Dollar is set in cement.
The question of whether gold is in a bubble has been asked and answered many times in the past year or so:
http://www.freerepublic.com/focus/chat/2205674/replies?c=30 (March 12, 2009)
http://www.freerepublic.com/focus/news/2340999/posts?page=30#30 (September 16, 2009)
http://www.freerepublic.com/focus/news/2381730/replies?c=4 (November 8, 2009) (response 24)
http://www.freerepublic.com/focus/f-news/2417326/posts (December 30, 2009) (response 6)
http://www.freerepublic.com/focus/f-news/2546194/replies?c=22 (June 25, 2010)
http://freerepublic.com/focus/news/2546194/replies?c=22 (July 3, 2010)
Right.
Good for you, Owl_Eagle!
We bought when AU was at $252.00 and sold it to buy the adjoining property when it hit $475....damn it. Anyway, the property deal never went through and we ‘gave away’ over 50 ozs. of our gold stash.
Perhaps you’ve already guessed that I am nearly in tears as I type this? We’ve since replenished our supply and more, but sure didn’t get it for what we did before.
Glad to hear you did well...panax
“I only wish I’d plowed some into ammunition too.”
Wanna’ do some tradin’? I’ve got that base covered!
“””The Carter era $800 gold price is clearly anomaly that was extremely short lived and not really pertinent to anything. In short, it has no value in the discussion except to take up space.”””
____
But-—
Gold was something like $40 per ounce in 1970 and the bubble burst at $880 ten years later. Or gold went up over 20 times in price in the 1970’s.
So if we should see a similar bubble this time around, then we started with gold at $250-300 in 2000 and if it increases 20 times that puts the blow off price at something in the range of $5000 to $6000 per ounce.
Given the propensity of governments around the world to print paper currency it is certainly possible for gold to get to such levels.
Scary isn’t it.
“The Dollar crashed through what should have been a floor of support near the 82 level as if the boards were made of rotten, termite-infested timbers. It is now headed to 80, where if it fails, the ill winds of inflation blowing through the economy are only going to intensify.
~Jim Sinclair~”
Nice rhetoric, but the dollar is still far from recent lows.
Buy silver. When gold goes up to high for the average person, many middle class investors start to look at silver as the alternative. Normally silver should be 1/40 the price of gold. Right now it is about 1/60 price of gold. Silver still has some upside to go. If you can buy it at $25 per ounce or less, it is a good deal. Cheapest type of silver to buy per ounce is US half dollars, quarters, and dimes minted prior to 1965 which contain 90 percent silver. Recommend www.apmex.com, www.providentmetals.com and www.bulliondirect.com. The first and second company actually lists the buy price if you wish to sell your silver coins (good strategy is have buyers lined up for the products you intend to buy). NOTE: One buys precious metals to preserve your buying power just in case inflation and/or hyperinflation hits from all this Fed printing of money in an attempt to fight deflation. Even if the Fed can defeat deflation with controlled inflation, the dollar will gradually lose its value over time compared to other currencies. Thus gold and silver will increase in value when translated back to dollars.
I knew I should have gotten into gold when it was $35 an ounce. Could have used it for a door stop.
I’ve been buying very small amounts of both from Bullion Direct. I just checked and they are selling 1 ounce gold double eagles for $1329.07 for one and silver 1 ounce silver American eagle coins for $22.78 each. Bars are somewhat cheaper.
Try www.providentmetals.com. Sometimes their prices are cheaper. They also sell off quality American Silver Eagles, Canadian Silver Maples and even Mexican Silver Libertads that is less if you want just silver content and not looks of the coin. Definitely check out their junk silver prices. They also have an excellent selection/prices of Mexican gold pesos.
I buy mainly the 1 oz Heraeus bars from Bullion Direct. Very few places has it and at very good prices. If you are not in a rush, always pay by personal check. Otherwise both companies would tack on another 3 percent for using a credit card.
EEeeesh! You don't want to take my advice on finance (or anything really).
I'm reading the articles here, seems like a lot of folks think it'll go to $1,500. I'm not entirely sure where I'd put it if I did cash in. Guess I'll wait and see.
One thing is for sure.
If I were to buy some today, the price would PLUMMET tomorrow!
I was burned by the tech bubble and the housing bubble, but not tooooo badly.
My house is at least worth what we’ve put into it and we are not under water. But we didn’t plan on staying in it this long either.
But the tech bubble - OUCH!
This should be standard on any gold thread. Please post on zerohedge.com too.
I use it kinda sparingly, after I see a bunch of “hits”. I don’t post on zerohedge; I’ll have a big smile on my face the day I ever see somebody swipe this and post it on another web site.
It'd be nice of you to ping all the gold holders on this thread to let them know before you do.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.