Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
the time to buy was a few years ago...or even a few months ago...too high now.
Does the name Bernie Maddoff mean anything?
You pay to buy it (say a certificate, not the real thing) and you pay to sell it. If you had the real stuff what could you do with it? Say the dollar was worth zero. How do you value a chunk of gold against a loaf of bread? Who would then determine value? The grocer could say, “Ok, that’ll cost ya a chunk of gold” .... an ounce ... a quarter ounce? Carry a scale around with you?
Gold is a hedge, and should be treated as such.
Once everyone starts talking something up, your window of opportunity for large returns is likely gone. Best thing you could do at this point is invest in a metal detector and hope you stumble on a hiddden treasure like the guy in England did.
There is only one way to “make” money with gold ... lease it to others. Gold still buys the same things that it bought hundreds / thousands of years ago. The currency ratio to gold may change. It may take more dollars or euros to buy an ounce of gold but if you factor it backwards, how much gold is a loaf of bread or a house or whatever, you will find that through out history, the price of goods relative to gold has remained the same.
If inflation causes gold to “go up” ... what you are really seeing is the value of the currency “going down”.
It convinces the gullible.
I’ve wondered about that stupid statement too. Gold can certainly be worth a lot less than what you paid for it.
That very thing happened to a friend of mine back in the ‘70’s when the “buy gold Krugerrands” thing was the rage.
He sunk every spare cent he had into them, as it turned out, right at the peak value. Shortly after, the price of gold started dropping and he ended up losing a bunch.
I wonder why all these brokers owning gold “skyrocketing in value” are so eager to sell it for US Dollars “plummeting in value”. Why don’t they hang onto their gold?
I don’t trust any outfit that advertises as much as these folks do. Any company that blows as much of it’s cash on advertising as these do is suspect to me. Geico comes to mind—they are everywhere.
http://www.freerepublic.com/focus/news/2348718/posts?page=19#19
If you own a piece of paper that says you "own" gold, good luck with that if things go south or the government decides it won't let you have it. Believe me, they can do it.
The only way to "own" gold is to have physical possession of it.
I aim to be long on coffee and toilet paper in case of emergency. I think those commodities would be good for bargaining :-)