Will GOLD ever go back down to under $100/oz??

http://money.cnn.com/2009/10/06/pf/gold_investing_bubble.for...

"Do you want to know who you are? Don't ask. Act! Action will delineate and define you."
Thomas Jefferson

www.LibertySpammer.com

I expect great volitility before the final real price is known. No matter how high or how low it goes I am keeping mine for at least 5 years.

The Fed Plunge Protection Team is not going to let it go higher without a fight.

The news tommorrow may make it go down 90 FRN an oz. I do not check the daily price - I do not care.

As someone on CNBC once said - If you own gold you are fighting every central bank in the world.

Question : Could the dollar ever gain enough value to make the price of Gold $100 per ounce again, since today's price is $1044 per ounce in dollars?

My answer yes, but very unlikely !

Why would it be unlikely?

Answer: What is used as money must have real value. Gold has real universal value as money because:

From Ron Paul's Money Book page 12:
{ Excerpt } Gold has served as the principal medium of exchange through out history, { 6,000 years ? } because it's value does not depend on a government fulfilling its promises, especially in times of crisis.
Gold is scarce, it is portable, it is easily divisible, it is durable; it is desirable for non monetary purposes; and it is impossible to counterfeit. { end excerpts }

Now after WW II the U.S. was the only country left standing that still had a productive base of manufacturing, farming, and turning natural resources into useful products, for the rest of the war torn world. The dollar became the worlds strongest currency because when the post WW II world economy picked up again, international payments were made in U.S. dollars that were redeemable in Gold !

This caused the U.S to eventually have over 24,000 metric tonnes of Gold in storage, making the dollar, "as Good as Gold "!

So, to answer your question above, if the U.S. ever had a backing or redeemable clause in the valuation of the dollar, and that backing was so valuable in real terms as explained above by Ron Paul, yes it would be possible that Gold could be $100 per ounce in dollars.

But I really don't see that happening as long as the Federal Reserve tries to set the "Value" of the dollar !

"End the Fed" to ever see sound honest American money again ! ! !

Ask Robert Prechter. Elloliott wave International

The truth is, our criminal politicians could resort to the "new"dollar, a technique that criminal politicians have used in other counties. Suddenly, the "new" dollar is worth 100 of 1000 "old" dollars. This is just a demonstration of how wealth has been stolen from the people.

Gold is money. The federal reserve "dollar" is not - it is legal tender, fiat money, depending on your definition of what money is. Gold has value, just as silver has value, coffee beans have value and gasoline has value. The "dollar" we use today has no value, other than legal tender laws force us to accept it as payment for all debts, public and private.

The problem here is that we are all being swindled: we are forced to accept federal reserve notes as a payment, a commodity with no intrinsic value which can be created out of nothing. Those who create new federal reserve notes benefit, just as we would benefit if we printed them. Everyone else sees the purchasing power of the federal reserve notes in their possession diminish as new notes are printed. This criminal process is called INFLATION, and politicians have been lying about it for centuries.

I am old enough to remember a fool named Gerry Ford handing out WIN buttons - "Whip Inflation Now" to gullible Americans. It is our politicians in concert with their creation, the Federal Reserve which creates new federal reserve notes for their benefit. We, the American people, get the short end of the stick.

...90% of the existing paper dollars spontaneously disintegrate and no new paper dollars are ever printed again.

Two years ago, a co-worker wanted to buy some gold rounds and came to me to ask if I thought gold would drop below $500 anytime soon (gold had just broken $700 at the time). I told him that he'd probably never see gold below $500 in nominal terms in his lifetime, and that there really wasn't any "right" or "wrong" time to buy gold if you believe that gold will ultimately appreciate. He took my words to heart and bought around $710. He's pretty happy about that purchase now.

Check out this tech ticker piece:

http://finance.yahoo.com/tech-ticker

When the dollar we have today collapses and it gets revalued, maybe.

Thanks guys, these comments were very insightful.

"Do you want to know who you are? Don't ask. Act! Action will delineate and define you."
Thomas Jefferson

www.LibertySpammer.com

live free or die,
or when the banksters take two zeros off as when in the late 80s or early 90s in mexico the peso was 3000 to 1 dollar they removed 3 zeros and voilla they now had nuevo pesos N$ at 3 to one. anyone remember that?

Possible, if the government started making real dollars again, they just have to eliminate all the FRNs.
I imagine a real dollar made up of 1 ounce of silver would trade for around 70-1 against gold as we see today.
Personally I would like to see silver dollars again, and let the price of gold float unfixed to the price of a dollar.

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drop belowe USD $1,000.00, then thru USD $900.00, then thru $800.00 then thru $700.00, then $600.00, then $500.00, then drop belowe GOOG share price, then thru $400.00, then thru $300.00, then even thru $200.00, then all the waye down belowe $100.00.

I see it going to USD $10,000.00 before it goes to $100.00, fix your headline number, or not.

Not likely. Our government has nearly a 100 year track record of destroying the value of the dollar. It would take a HUGE turnaround of increasing the dollar's value in order for gold to ever hit $100 per ounce again.

Imagine something along the lines of 20-25 cents per gallon of gas. That's probably what it would take.

As you mentioned, the sky is the limit. Gold can go as high as the dollar can low, and the government (if they wanted to) could literally run the dollar into the ground. For those who say it's not possible, it happened in Germany right after WWI and happened in Zimbabwe in the past few years. The Zimbabwe example doesn't really seem to be very credible as it's hard to imagine comparing Zimbabwe to the U.S., but the Germany example is very significant.

no..... at some point gold will be valued at how much it will buy.. the dollar is dying..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3

Probably...

a 'dollar'. It used to be that the definition of 'dollar' was 1/20th of a gold ounce. Now a dollar is whatever the government says it is. Under these conditions, a 'dollar' will never again be what is was supposed to be until the government problem has been resolved, and possibly not even then.

'Live for yourself, there's no one else more worth living for,
Begging hands and bleeding hearts
Will only cry out for more...'