How To Buy Gold For $3 An Ounce

Oilprice.com ^ | 06-20-2019 | Ian

[bananaman22]

What Wall Street knows as an incontrovertible truth is this: Fear is a bargain. And right now, there’s so much fear floating around the market that gold is back on everyone’s radar, with incredible bargains.

Gold is trading at over $1,342 an ounce right now.

So imagine buying it for $2-$3 an ounce instead.

When Wall Street goes bargain hunting, it’s looking for discount gold.

One way it does so is by targeting junior miners with major upside, setting short-term price targets that make these undervalued global gold assets ground zero for investors who are fleeing the next potential economic meltdown.

[SkyDancer]

Just a segue I just finished reading a book FDR’s Folly where he had a law passed banning the ownership of gold; ten years in prison and a $10,000 fine. Come to find out he had a hoard of gold himself he never turned in.

[Fido969]

Why am I skeptical of something called “oilprice.com”?

[House Atreides]

“...The owner of Oilprice.com owns shares of the featured company and is therefore extremely biased and has an incentive to see its stock perform well....”
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BEWARE folks. There are “investors” who buy such stocks, tout them and then sell them to suckers at the temporarily inflated price. Just IMHO.

[null and void]

Come to find out he had a hoard of gold himself he never turned in.

Well, I'm shocked.

[hanamizu]

Well, I’m shocked.

---

Well, as an avid stamp collector, I’m sure that FDR had a pretty nice coin collection on the side—and all of his gold coins were no doubt, collector’s items. The law allowed an exception for ‘collections’. And what kind of people had gold-coin collections back in 1933? Meanwhile, my family’s few gold coins, given as presents, went into the melting pot.

[DesertRhino]

Back in those days, people had few options on what to do with it. Ma and Pa Kettle couldn’t get their gold to Vietnam, if they had ever HEARD of Vietnam. Immediately after the turn in order, that 20 dollar gold piece was worth 35 bucks as Roosevelt revalued the dollar.

Today that would be impossible. Thousands of airline flights per day leave the USA. You can probably order a CONEX box full of Chinese 12 year olds to work in your restaurant kitchen. A small bag of coins is childsplay. The rest of the world would laugh at a turn in order. And your gold will be readily convertible as long as there is an Indian, Vietnamese, Chinaman in your city.

That was a one-trick pony from the 1930s.

[captain_dave]

Buying a gold mine is not the same as buying gold.

[hanamizu]

The fine for ‘hoarding’ gold was $10,000—in 1933. That’s nearly $200,000 in today’s money, plus up to 10 years in prison. No wonder most turned in their few gold coins. That’s the kind of sentence one might expect for helping Trump’s campaign.

[SkyDancer]

FDR was what is called today a progressive liberal and the same folks want the same for us now.