Posted on 08/29/2017 1:48:08 PM PDT by Mr Apple
http://www.kitco.com/news/video/show/Kitco-News/1695/2017-09-01/With-Debt-Ceiling-Looming-Gold-Is-The-Hedge-You-Want---Tocqueville
I kind of figure that we have excellent technology for long-term product survivability.
Meaning, if you have money now, and want to be able to have things later, you can just buy the things now, and most things you buy now, even food, can last 20-25 years. The nice thing about investing in the actual things you will need for the next 25 years is that it makes inflation/deflation/supply meaningless. Who cares if you can’t find food, if you already have it in your cellar. Who cares if housing triples in price if you already own your house?
Obviously, there will be new technology that people will want, but that usually isn’t necessity.
The biggest problem I see with most disaster preparedness is that our current prescription drug laws keep people from stocking up on medications they need long-term.
I know people who desperately need medications, and can only get them a month at a time, or at best a 3-month supply. If I had drugs that were keeping me alive or functional, I’d do what I had to to have a 2-year supply; even if it meant taking half-doses to build up supply, or getting multiple prescriptions (which would be illegal).
If I thought we were in crisis, I’d also buy multiple pairs of glasses, or I might actually take the risk of doing laser eye surgery so I had reasonable vision without glasses.
I guess you could also stockpile clothing, guns, ammunition, fishing gear, whatever it is you need. Spend the money, rather than finding a way to stash the money to use later.
A lot of this is just based on when you got in.
If it was 2003, your kicking ass.
If Gold is really going to go up that means Wall is selling.
12:14pm gold on the move up…$1344 now
not in at 2003, but did hop in @ 1260 avg three months ago, we gold bugs are …all smiles today
I’m staying in Large Caps on the Market.
The mood is shifting a bit on whether we destroy NK or not but they seem to be forcing the hand to smack them.
at 2pm now, is gold blowing yet
Not really, IMHO.
This gold price move is still the chumpiest of change compared to bitcoin. Don’t get me wrong. I own both gold and bitcoin, and I’m glad the gold price is up, but this gold price pumping is the proverbial making mountain out of a molehill. Its all relative.
Bounced off $4000 now $4500 4 hours later. Nice and stable (LOL)
That might be so, but I'm still pleased that I put my whole years savings of $3600 into gold coins three months ago. That's everything I could muster and I'm happy with my gold purchases. I'm probably up a lot now if I sold tomorrow.
Darn, I was ready to jump at 12:30 when it hit 1341.40, but now it’s down almost 50 cents......
:)
I'm with you. Gold is okay as a store of value but making significant gains off of gold is something I don't see happening. Bitcoin on the other hand is very risky and may at some point go to zero value but at the same time it may very well be over ten fold in value within a few years. I don't see anyone living long enough to see gold at 13k per ounce. Bitcoin at 40k in five years? entirely possible.
Right….. ….. rofl, hahaha.
Hahaha I have never indulged in speculative items such as the Bitcoin. I buy index funds when there is blood in the streets and sell them as soon as I see 25-30% profit. That method has kept me solvent for 55 years.
A year ago I sold my house at 50% profit in 5 years ownership time. Just north of Seattle.
And on top of that, I got live in that house for 5 years paying only property tax, and did not have to pay any capital gains tax. Try living inside a gold castle hahaha.
The price of bitcoin was about $1000 in April 2017. As I type this, its price is about $3800 with an upward trend, not a dead cat bounce, and a 280% increase since April.
On April 1 2017, gold was $1255. It is currently $1320, a 5.2% increase.
280 / 5.2 = 54
There, I did the math for you.
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