Posted on 11/13/2009 6:45:21 AM PST by SeekAndFind
Related
http://www.businessinsider.com/martin-armstrong-gold-headed-to-5000-and-beyond-2009-11
http://www.marketoracle.co.uk/Article14996.html
“So today I, an admitted Gold bug, ask: Now… do we finally have your attention?”
I’m sorry.... now what were you saying?
Man Arrested At B.C. Border With ‘Terrorist Resources’
Syrian man was arrested at the Canadian Border last month with $800,000 in gold coins
Question...how did the Bretton Woods agreement work, why was it eliminated, and would something like that be worth re-kindling?
I think the “ammo bugs” have the more realistic outlook. If this economy collapses we’ll be trading in bullets, beans, and bandaids, not gold.
I bought gold about 10 years ago when it was $288.00 an oz . I guess I should cash it in now for worthless dollars and buy more now at $1,011.00 right ? 0bamanomics at work . Share my good fortune or wealth redistribution .
What's your take on how gold's price has fluctuated over past century or two?
Depends. If 10 years ago, you had a $100,000 mortgage and $30,000 in gold...and today your gold is worth $140,000...and your mortgage is still $75,000...you could cash out 75k and be better off.
In other words, it depends on your overall situation.
All this gold people are buying...all the ads, bring in your unwanted jewelry...where is it going?
it’s being used to electroplate tungsten bars so that they can be sold to gold ETFs...
If you are talking about physical metal, certainly.
If you are talking about paper that SAYS I have metal, of course not.
I get calls about the latter all the time. My responses are dismissive and rude.
I bought 10 Krugerrands 8 months ago and am up 46.4 %. I guess you could say.....so far so good. Ummmmm...I wish I bought 50 Krugerrands instead of 10 but I was a bit cautious since I never owned physical gold before. :-(
How do you do your check to make sure the gold bars are not the ones found stuffed with $10-a-pound tungsten? Go into the bank vault and drill them?
“...stuffed with $10-a-pound tungsten?”
When it all comes down, you’ll be glad you have that tungsten.
It tastes great with beans!
FWIW, the time to buy gold was 3 years ago.
When *everybody* is saying buy, it’s long past the right time to buy - same is true with any investment, be it real estate, bonds, stocks, porkbellies, whatever.
Where does one just store bars of gold though?
No, you pay money for the same crooks, scoundrels and thieves to “assay” them for you.
: )
Sure, buy plenty of ammo (and food) first.
But if you have to flee for a safe haven, how much wealth can you carry on you in ammunition?
Gold is literally “flight capital.”
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