Posted on 03/17/2009 9:28:22 AM PDT by Ernest_at_the_Beach
Edited on 03/17/2009 9:43:35 AM PDT by Admin Moderator. [history]
ANNANDALE, Va. (MarketWatch) -- Call it the retreat of the gold bugs.
Over the past three weeks, the editor of the average gold timing newsletter I monitor has hastily jumped off the bullish bandwagon. And a not insignificant number have taken the occasion to furthermore jump onto the bearish bandwagon.
(Excerpt) Read more at marketwatch.com ...
Yet its still over 900 an oz.
Those who really have major capital to invest understand that gold doesn’t make money as much as it holds value, it is an insurance policy... however, with the higher tax rates on gold and the fact that the predictions of skyrocketing prices haven’t come to pass means that most investors, while they may hold some gold, don’t dump everything into it, they are smart and diversify.
There is also the caution of gold scams, there are many out there where people are investing in gold only to find there is no gold..
Looks like a buy signal if you have a long-term outlook.
Is that sort of like naked short selling?? Where you sell stock that you don't actually own or have access to??
Historically Gold has had it’s bullish periods, but it also eventually falls. The key is to pick the time to buy and the time to sell. Usually, after it falls, it stays down a lot longer than it stays up when it rises. I would suggest it you now have Gold, it’s time to sell.
If you don't have personal possession of it, or in a back safe deposit box, you don't own it. If the world goes to hell in a hand basket, does anyone think those holding it for you will actually hand it over?
Kind of but worse, there was a fake gold investment company that where selling gold ‘shares’ only to find out, there was no gold and the person selling the ‘shares’ was just pocketing the money.. Sadly, gold scams are pretty popular..
http://www.pe.com/localnews/inland/stories/PE_News_Local_S_gold16.42f3198.html
http://www.fraudaid.com/Dictionary-of-Financial-Scam-Terms/gold.htm
http://www.cashforgoldscams.com/
Stuff like this make people cautious when they hear about investing in gold.. Not saying there is an inherent problem with gold, these are just reasons why people don’t all go out and invest in it.. scams being one..
Even if you have possession, then you have storage and security issues, also the higher tax rate when you sell physical gold.. good as an insurance policy for some of your capital, but not the magic pill some folks try to sell it as.
Ah, the Bernie Madoff investment plan.
Retreat of the gold bugs?
ROTFLMAO!!!!
Those of us who mine it are so busy we haven’t had time to post on FR!
Perhaps they’re getting concerned that Zero is channeling Roosevelt again and is getting ready to outlaw ownership like FDR did.
..the other one I didn’t post is people being sold fake or false purity gold coins.
http://www.accessmylibrary.com/coms2/summary_0286-33016870_ITM
They are told it is 99% pure only to find it is gold plate over copper.
Only that which you can access without the approval and co-operation of others is really yours in an emergency.
Possessing paper that says you have ownership rights in gold stored somewhere else strikes me as a silly idea!
I also believe gold would lose a lot of value in a complete breakdown.Say you have a hundred Krugerands and I have a gun,ammo,and a case of beans;just how much will you pay for some of those beans?And that presumes I am willing to sell you beans and not just take your gold or watch you starve and then take your gold.
Ah, the Montel Williams/Obama coin investment plan. You too can own a piece of history.....
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