Posted on 07/30/2014 5:56:17 PM PDT by blam
07/30/2014
Ron Paul
I Still Believe In Gold - Ron PaulDr Ron Paul, the popular Presidential candidate and America and the world's most popular libertarian voice, told CNBC yesterday that he still believes in gold and that gold could go to infinity.
Former U.S. Representative Dr Ron Paul told CNBC's Jackie DeAngelis and the Futures Now Traders that the long-term case for gold remains firmly intact.Dr Ron Paul: Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it's good as long as we continues to do this , you know, it could go to infinity because when people just leave the dollar, who knows what But that won't happen if we finally wake up and do something. But if we can keep this together, if the money managers can keep it together and it doesn't collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it's up a hundred dollars for this year so
Jackie DeAngelis:
It's roughly I think up 8% year-to-date. It's not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we're seeing in terms of the geopolitical situation. A lot of conflict around the world -- you'd expect gold to be higher right now.
(snip)
(Excerpt) Read more at zerohedge.com ...
Gold always sounds good. Metals usually do.
It would be interesting to know over time how many have actually made money on metals investments, and how many lost a fortune on them.
Ever notice: It’s always time to buy gold — never time to sell?
Or not.
And, it may get cheaper before it gets more expensive. Or, the reverse.
The Germans could have made a killing in the gold market,had we not lost their hundreds of tons oF bullion.
And lead can take your gold.
Really though. Aside from small amounts I don’t deal with gold. Being that I own a machine shop I have very valuable skills to trade and racks filled with aluminum and carbide cutters. As long as I can trade some diesel fuel to run my generator I am in pretty good shape. If I can’t trade something for diesel, or there’s no diesel, then there’s a lot more we all have to worry about than gold.
Why stop there? How about 'beyond'?
Gold is a storage of wealth not an investment.
Over the long term. an ounce of gold today pretty much buys what an ounce of gold did 50 years ago, 100 years ago, 1,000 years ago, etc.
Gold can and will go up, probably to the tune of 2,700-3,000 dollars at some future point. All it takes is some foreign policy moment where everything changes, if only for a day.
I agree with that. I’m not sure people understand that though, and they do use it for investment purposes.
That would be the very definition of a good currency; as opposed to fiat currencies such as the dollar which drops half its value about every 10 years.
It is a better investment than a savings account. At least it stays up with inflation, bank accounts rarely even pay half the inflation rate and you have to pay income tax annually on the interest your money “earns”.
As a way to spread risk in volatile financial events, is isn’t bad at all.
Ping.
infinity is not a number
will the price keep up with inflation
can sell it after an economic collapse? Who will buy it?
Gold will not go to infinity.
It also will not go where Argentina bonds went today.
“That would be the very definition of a good currency; as opposed to fiat currencies such as the dollar which drops half its value about every 10 years. “
But politicians can not manipulate hard currency like they can fiat currencies.
They like spending dollars and repaying with dimes.
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