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To: #3Fan
Yes, gold mining paper is good for investing now, but it is paper and paper will fail like the rest of the fiat currencies in a catastrophy. For survival, several ounces stashed here and there will be the way to go.

But only for survival.

Gold is now an industrial product.

Modern mining/refining techniques can produce any amount you need for about $300/oz. When gold is cheap mines and leach fields shut down. When gold is expensive they turn nice profits. Unless the gold producers price structure changes it will be hard to maintain a price much above the $300 inflation adjusted price (obviously the inflation adjusted cost of mining and refining the gold).

Gold mining companies might be a good investment at some times. Guns might be a better investment for the only scenarios were gold looks good to me.

75 posted on 06/28/2002 5:25:59 PM PDT by Dinsdale
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To: Dinsdale
hard to maintain a price much above the $300 inflation

By adding that phrase "inflation adjusted" you just rendered your whole point obvious nonsense. It was already nonsense but "inflation adjusted" made it glaring. It is of the same order as "If we had some ham we could have some ham and eggs if we had some eggs."

81 posted on 06/28/2002 5:31:26 PM PDT by arthurus
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To: Dinsdale
But only for survival. Gold is now an industrial product.

A very expensive industrial product.

Modern mining/refining techniques can produce any amount you need for about $300/oz.

That's, what, thousands of times higher than steel.

When gold is cheap mines and leach fields shut down. When gold is expensive they turn nice profits. Unless the gold producers price structure changes it will be hard to maintain a price much above the $300 inflation adjusted price (obviously the inflation adjusted cost of mining and refining the gold).

Yep. That's why I make money trading currencies, not trading gold. Some places allow for 200 to 1 margin. Many times a year the currencies will move 1% in ten minutes against each other. Therefore at 200 to 1, $10,000 will be worth $30,000 with one of these ten minute moves. Triple your money in ten minutes. Now that's trading. Of course if you're on the wrong side of these moves, the margin calls can be devastating. I trade 20 to 1 myself. You can go on a losing streak and still survive at 20 to 1 with the proper stops.

Gold mining companies might be a good investment at some times. Guns might be a better investment for the only scenarios were gold looks good to me.

There's always going to be someone who can outshoot you.

118 posted on 06/28/2002 7:31:49 PM PDT by #3Fan
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To: Dinsdale
Gold mining companies might be a good investment at some times. Guns might be a better investment for the only scenarios were gold looks good to me.

In any scenario where dollars are no longer accepted, we will go to barter rather than back to gold, for the simple reason that not too many people HAVE gold coins any more

The currencies of post-greenback America will be cartons of cigarettes, bottles of booze, and ammo (in some circles, add drugs) -- non-perishable items of widespread use.

146 posted on 06/28/2002 8:51:01 PM PDT by SauronOfMordor
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