The long term price of gold in 2015$ shows the average is around $800 and a drop below say, $500 wouldn't be unusual.
Posted on 07/27/2015 4:19:44 AM PDT by expat_panama
A little less than four years ago, the world looked like it was about to end and gold hit an all-time high of $1,895 an ounce.
The United States had manufactured a debt crisis, and Europe hadn't been able to manufacture a solution to its actual debt crisis, so panicky investors sought safety...
[snip]
That didn't mean, though, that gold wasn't a good short-term investment. It was. Just not for the reason goldbugs thought. Now, the problem with gold is it doesn't pay any interest or dividends, but it does cost money to store. So you have to pay up in the hope that it will pay off by going up in price. That usually makes it a pretty lousy investment. That calculus changes, though, when you're being paid to borrow—that is, when you're paying a negative real interest rate. But when does that happen? Well, when inflation is high but interest rates aren't quite as high, like in the 1970s, or when inflation is low but interest rates are lower still, like today. And that, as Paul Krugman and Larry Summers argued, is why gold prices were going up so much even though inflation wasn't.
It almost makes you feel bad for the goldbugs, until you remember that some substantial number of them are just trying to scare seniors out of their money. But the ones who aren't really thought the 1970s showed that gold went up when inflation did, so the fact that gold was going up now meant inflation couldn't be far behind.
[snip]
That sound you hear is goldbugs insisting that this is just a flesh wound.
[snip]
But don't feel too bad for the goldbugs. The best thing about predicting the apocalypse is you get to try again and again and again.
(Excerpt) Read more at washingtonpost.com ...
The long term price of gold in 2015$ shows the average is around $800 and a drop below say, $500 wouldn't be unusual.
If it drops under $600 buy, buy and buy some more. The so-called “manufactured debt crisis” is real.
If it drops under $600 buy, buy and buy some more. The so-called “manufactured debt crisis” is real.
Anyone buying gold as an investment is a fool.
Gold is a hedge, an insurance policy against inflation.
Act accordingly.
Anyone who buys gold as an investment is dumb. The purpose of gold is insurance.
Beat me.
Monday morning. Where's my coffee. Stock index futures are down to -0.51% and metals are seen up +0.11% although gold right now is trading at $1,099.20 and silver's $14.74. Durables come out today. Some more headlines:
Y’all may be right but let’s keep in mind that we all got opinions and feelings while the world gives us facts. Them that tried to ‘insure’ against inflation a couple years ago are not feeling very well protected right now.
Is this why that gold guy who advertises on Rush is now pushing silver?
What does Glenn Beck say about this. He’s Mr. Goldline.
Why not? If you bought gold as insurance (the only reason to buy it), then fluctuations in price shouldn’t mean shit to you.
If one bought gold trying to predict inflation, you were essentially just gambling. Too bad for these people.
I would agree that gold is going to around $500 if...
Governments around the world didn’t have insane debts that can never be paid back.
We have never been here before with governments (to include America) with debts 100%+ GDP.
Default on the city/state and national stage is coming.
Many “paper” assets are going to wiped out or confiscated.
Forget gold..buy more ammo .223 and 5.56.
China is looking a little ruff this morning
Chinese Stocks Suffer Second Biggest Crash In History, 1,500 Companies Halted Limit Down
http://www.freerepublic.com/focus/f-news/3317069/posts
“but it does cost money to store”
How much storage do you need? Thirty pounds of gold coins can fit in a small case and has half a million USD value at today’s gold prices.
Perhaps the author means the cost to protect and insure the gold which may not have much value in an apocalyptic scenario anyway.
Better yet, buy .223 made out of gold..just a thought.
For use against vintage Dr.Who cybermen. Unit had some.
Or silver - you get more rounds per dollar, and as a bonus, you’re protected against vampires!
Whatever Goldline pays him to say.
Silver is about $14.50/oz right now.
Some junk silver or peace cartwheels would be cheap insurance. At least silver can be used to buy or barter.
Could somebody explain how gold would be used to buy necessities? No comparisons with 1923 Germany; IIRC Germans with gold exchanged it for hard currencies like Swiss francs which they then spent in Germany, thus making things worse for the mark.
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