Posted on 07/10/2013 7:26:11 AM PDT by Errant
What I'm about to say will challenge even the most steadfast gold bears - or anyone for that matter right now who thinks that gold has seen its better days.
The chart below tells a story - a big story. In fact, I encourage you to forward this email to anyone you know who serious about his money.
What I found here, with the help of Frank Holmes from U.S. Global and one of the smartest people on earth on the potent combination of Asian markets and commodities, is a chart that shows a truly astounding fact about gold.
(Excerpt) Read more at moneymorning.com ...
However, this was before QE and the Derivatives Market.
Hope they’re right. I just bought another $500 worth according to my plan. Got some low prices and will get the payoff if it goes up. Hope it does.
The bottom of the ocean is littered with ships and they all had charts.
In my case, I own a little gold for the insurance value, and believe PMs an important part of any portfolio - especially to meet a goal of being diversified.
Really. Was it the chart or the storm which sent them to the bottom?
Gold price goes up, cost of living goes up. Damn near a wash but probably better than interest in any banking institution. What is really the problem is the economy has tanked, only a question when it crashes.
“The bottom of the ocean is littered with ships and they all had charts.”
I love that statement.
“The bottom of the ocean is littered with ships and they all had charts.”
Great line. I’ve never heard that one before. Did you make it up? Just want to know so when I use it I can quote you!
And I’ve always wondered why gold sellers are so eager to take in your ‘devaluating’ currency for their valuable gold?
The Golden Backwardation Rabbit Hole Gets Deeper: Subzero GOFO Slide Accelerates
Yesterday we described the historic inversion in the Gold Forward Offered Rate, where the 1 and 3 Month GOFO rates sliding into negative territory for the first time since 2008 and 1999 respectively. Today, using the latest LBMA rate update, we observe that the gold backwardation is accelerating, and now the 6 Month GOFO has also joined the complex into sub-zero territory.
You want to buy physical gold. Coins and bars are your best bet.
Paper? That’s all it is.
If you buy bullion or coins, it’s in your hand or in the bank. If you buy gold stocks or something similar, you’re investing in the gold market.
Gold has always had value and always will because it does not rust away or disintigrate. It is as inert as lead. Bury gold in the ground or throw it in the sea for a thousand years and it can be retrieved good as new. It is also the best of conductors.
And gold holds it’s value. A one ounce gold coin in ancient Greece would buy a nice toga, a good belt, and a good pair of sandals. Today, a one ounce gold coin will buy a nice suit, a good belt and a good pair of shoes. It’s value has fallen only slightly as more gold has been found.
Gold has been used as a medium of exchange since time began, while paper money fluctuates when compared to something of real, tactile value. For example, in the Confederacy, the paper money became worthless only because nobody would accept as an exchange for something. People will always accept gold because it can be retraded for something else.
Sometimes the 2 bottoms connect also!
Investing isn't for everyone, same as steering a ship through a storm or dangerous waters.
With a third of the people in the US now receiving food assistance, might the chart serve as food for thought?
1. Your gold is in your pocket, or the cookie jar, or the safety deposit box. You decide.
2. You spend gold as it has been done for centuries: trade it for what you want.
3. You could get change in gold, or in silver, or in some other commodity. Or the merchant can run you a tab, or bill from a prepayment, or may give you change in old money at the current value rate.
Same as throughout the history of civilization.
The same reason that druggies often sell - to pay for the acquisition of what they want at better volume prices.
Or maybe a fool Captian that read the charts and weather report wrong.
I got it from a guy on Agtalk
Rarely the case - more often a mistake of your position in relation to danger through ignorance / negligence.
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