Posted on 10/11/2008 8:28:58 AM PDT by reaganaut1
That and man made diamonds are becoming available and they are significantly cheaper to make than to mine.
These days diamonds are relatively rare because a huge inventory is being held off the market by De Beers. Should an African kleptocracy nationalize De Beers, well, look at what happened to the value of the Zimbabwe currency...
(Granted, a technological breakthrough or a government out of control aren't particularly high probability events, but either one would be a disaster for anyone invested exclusively in diamond)
Diversify!
Pound for pound Guns and ammo will be worth 10 times their weight in gold.
Bury it in the fertile ground you wisely used your savings to purchase.
kbennkc ~ I put all my diamonds on Easter eggs and can't remember where I hid them .
Shoulda followed the Tsar's lead and put them in Fabergé eggs...
Yep, but nully, I will have just happened to sell mine at a small profit when gold spiked.
Do I have to declare that as income?
I am better off without them , rather than the way he ended up .
Aren’t most advertisements predicated on fear? Fear that “you’ll pay too much somehere else”, fear that “you’ll be bald and unattractive”, and so on and so on.
The IRS will be very interested in the details of the sale.
50% capital gains tax, plus penalties and interest, plus if the even think you have attempted to defraud them they can audit you all the way back to your first bus-boy job.
No statute of limitations on murder, kidnapping and defrauding the IRS...
Bah! He’d be dead by now in any event!
I don't know about all, but there are an awful lot that are based on fear. Your point is very well taken.
You are supposed to buy low, sell high, not the other way around.
Now is probably a good time to be liquid; its getting close to a good time to buy equities.
If you do decide to buy gold, the 1 oz coins are an easy way to buy and sell. At current prices, you are only talking about a dozen coins are so - security will be an issue, but storage won’t.
Wifey and I got lucky a couple of months ago...digging for some stuff in the safe, we came across a bunch of Y2K silver "rounds" and a 1/10 ounce platinum....
We looked at what she'd payed in 1999 and figured we'd turn 'em into cash. Market then was around $17.50 for silver, and $1775.00 for platinum.
Dumb luck good timing. Today silver's just over $10.00, and platinum is below $1000.00.
yes
Because, you know, it has never been worth zero ;-)
Of course, it’s impossible to actually buy any physical silver for the “spot price”. Paper “silver” only.
fear, uncertainty, and doubt...also called FUD for short...
Thanks. I didn’t say “all”, though, just “most”. If we can convince enough guys that we can sell them what they need to avoid being a fat, old, bald guy with a small penis, well, then we’d have all the Corvettes and broad a man would ever need.
If I would have known that I would have bought a hell-of-a-lot more than one coin 8 years ago. Why didn't anyone tell me?
I asked the exwife to buy gold when it was inexpensive. She replied that no one wanted it because it was inexpensive. When gold became expensive, she had this idea that now it was worth something. Buy low, sell high didn’t mean anything to her.
I bought guns and ammunition. She bought gold when it was high and the divorce mediator said her gold jewelry wasn’t worth anything. The mediator wanted me to give her the guns I bought.
She kept her jewelry since it wasn’t worth anything and I lost my guns.
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