Posted on 10/05/2014 5:58:45 PM PDT by blam
October 5, 2014
Joe Weisenthal
There goes gold.
As markets whirr back to life to start the week, gold is falling again.
(snip)
(Excerpt) Read more at businessinsider.com ...
Glad I have been strong while various celebrities pleaded with me to buy gold
Dr Copper
The criminal syndicate that illegally seized power in the “election” of 2008 is destroying America’s economy and depressing the price of gold. American needs to crush unionism and restore the Gold Standard.
And the gold hawkers say, Buy Gold! It’s going to be $2000 an ounce! If they really believed that, they would be buying, not selling.
The “hawkers” don’t care what the price is. They make $ when you buy or sell.
Just again, makes me wonder, what is an average upper middle class investor to do? Invest bigger amounts in gold? Invest in real estate more? Do the flipping houses thing? Invest in energy stocks such as Exxon-Mobil? Invest in major retailers such as Wal-Mart? Just invest in stock market index funds? Buy more government bonds? Buy bank CDs, even though they pay next to no interest nowadays, because your principal is safe?
Of course it’s falling. It was long overdue, as some of us tried to warn. Get used to it. $1k could come fast.
I dislike internet advice. I rarely indulge. Forgive me for being obvious.
Pay off debt,
Raise cash until you have enough to make it through three months of cr*p, at least,
Once debt free, get good quality investments - blue chip stocks, good rental properties and the like,
Pay cash.
Moving on now.....
“And the gold hawkers say, Buy Gold! It’s going to be $2000 an ounce! If they really believed that, they would be buying, not selling.”
To be honest, I would not have bought when it was $1900.00, or even $1250, but it’s getting close to the point that I might buy. The only thing that bothers me about ‘precious’ metals is that you can’t eat them, build a house on them, or grow crops on them. If the economic system collapses, and you have land with water, and a means to protect it, you are much better off than anyone with paper money - and likely better off than those holding precious metals.
I am for crushing unions ABSOLUTELY!!
Not recommended. Commodities may be at the start of a major downtrend.
Are you also on "my team" for abolishing the minimum wage?
My point is that they are telling people gold will go up to sell it and for the past 2 years it has done nothing but go down.
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