So you buy gold as a hedge against worthless dollars but until they get to a point where you can go to the store and trade clothes for gold the only thing you can do with your gold is trade it for worthless dollars.
He also makes excuses for the fact that its buying power will (in fact) be reduced to one quarter of what it is today, by citing a largely fictitious parallel with 1980.
I wonder if Howard Ruff is a freeper.
Ten years ago a bunch of us on FR would pushing gold as a good investment when it was $250. We were shouted down. Now gold is at $1300. We are still being shouted down.
I’ve kept putting off buying gold for a couple of years now because I kept thinking: “Geesh, it’s gotta be maxed out; it won’t go any higher”.....but it keeps going higher. Guess I need to get in on buying gold; huh? Is Goldline a reputable gold outlet?
I caught the last part of something on Fox this morning about the paperwork required by the seller for a gold sale/purchase. Though not as detailed or invasive, it sounded similar to buying a handgun paperwork.
Does anyone know about this? Has the fed always required this paperwork or is this something new?
Boy, that's just the way people used to talk about real estate just a few years ago. In two years, gold might be $4,000 or $400 per ounce and I don't know which. I do know that when these trades unravel, they can unravel pretty quickly and I do know that people don't go broke selling an appreciated asset too early.
Anyways you go, you're gambling.
I would love to see a chart of the correlation curve and this is what I found. It can be argued that gold is not only behind the curve but does in fact have a long ways to go up.
With apologies to John Paul Jones "the price has just begun to rise"
I shorted futures this morning at 1318.15. Will cover 1298