Posted on 06/01/2006 8:10:31 AM PDT by Grampa Dave
My reflexes and body are too slow when I'm SOBER to catch a falling knife. Thank God.
We do. That's our job.
It doesn't help the numbers any for the commodity in question to have been unconstitutionally declared illegal to own for approximately 40 of those years in there.
Also, the article mentione "periods of gold and silver mania". It's far more accurate to state that the world has historically viewed them as money with periods of "fiat" mania...
yep! If I were trapped on a island, then a pack of matches would be worth more than a crate of gold bars
Creating liquidity so the pros can get out at the top...
Look at the three month chart. Three months ago gold was at $540 an ounce. It rose steadily and about 1 1/2 months ago it rocketed in less that two weeks from $650 to a high of $716. The recent fall is merely a correction. Again, look at the trend. As of this morning, it sits at $631. A year ago gold was $419. Five years ago it was at $265.
First comes the pump, now comes the dump.
Don't call me Francis.
And if you touch my stuff I'll kill 'ya.
"Mister, we deal in lead." Steve McQueen
(Name that movie)
Tyco? The one with a $56 billion market cap?
Yes, which is why prudent invstors might have 3-7% of assets in gold, but certainly NOT 30-70%.
And they don't pay a dividend unlike many stocks like Altria, Bank of America, Pfizer, etc. Oh, yeah, Tyco did not completely lose value. Currently trading over $27 a share.
And the beauty of numismatics (rare silver/gold coins) is that YOU PAY NO TAXES when you cash in.
Goldbug and tax cheat.
"Tyco? The one with a $56 billion market cap?"
Ooops - not them.
That sounds just too familiar.
Fortunately, the close relative I sleep with loves her IRAS and 401k, which I manage with zero gold as per her wishes. She has one Krugerrand with a gold holder and a gold chain, which she wears. She had one Beanie Babie Doll and one Barbie doll which our grand daughter borrowed from her years ago. She also has a nice mink stole to go with her one St John's Knit Outfit with Gold Embroidery on the jacket.
Absolutely, that's why the cries of "fiat currency" ring false upon examination. The only reason anything holds value is because the reciever views it as something valuable.
If 10 cute baby bunnies were suddenly worth a brand new Lexus, there would be people complaining that that the cute baby bunnies are fiat cute baby bunnies because they are not back by gold.
"Goldbug and tax cheat."
Actually, for me it's silver and it's not a "tax cheat". No taxes due on collectibles. Educate yourself before insulting.
Definitely! One thing for certain, some of the best gear in the world was built for our military.
Just don't let the IRS know about it or how you got the money from selling it. Coins are specifically mentioned in the instructions for Schedule D for capital gains. They are even treated worse than stocks (28% vs. 15%).
"The Magnificent Seven" (But I had to google it to be certain)
How can a guaranteed store of wealth have a correction?
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