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Gold-Any ideas about what gold may do tomorrow?
Submitted by wauhoo on Sun, 09/14/2008 - 22:01
Maybe it has been discussed already today (football Sunday), but all ideas welcome. Markets should be wild. » |
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Gold/Silver
Are going to see that this foolhearted and deadbeat flat money system of our illustrious federal reserve dies into "Paper Ashes." G' bye Mr.Ben Bernanke....B'Bye! :)
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Gold is up 35 bucks in two days.
I believe it will continue it's upward climb.
Deb
Deb
heck 50.00 today alone! I
heck 50.00 today alone!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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What About...
Us people that live paycheck to paycheck? I don't understand whats going to happen when the dollar collapses as far as paying my mortgage, truck payment, ect. From my Job I will be getting paid in worthless dollars and turning around and giving them to the mortgage company and auto lender. They can't raise my payments on my house or my truck. My employer can't change my wage scale so I assume the hard times will be from the jacked up prices of other living essentials like food and power? I'm kinda lost here. Someone enlighten me please. What is buying gold going to do for me?
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as it takes more dollars to
as it takes more dollars to by the necessities of life to live it will also cost more dollars to buy gold/silver.. buy gold silver now so you maintain purchasing power..
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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Gold/Silver
I have been buying Gold/Silver for the last month and 1/2 as though my life depended upon it! Especially since it has been affordable. I still believe that Gold & Silver WILL be TRIPLED in value by 2009. Paper money doesn't work and doesn't have "Real" value. It really IS that simple.
katie are you married and
katie are you married and how old are you.. I have a son who needs a smart liberty minded girl!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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start getting a vegetable garden going
there are winter crops that can be planted. If you can, get some chickens, a rooster and 3 or 4 hens. You have the internet at your disposal - learn how to grow the crops and take care of the chickens.
If the dollar collapses, and
If the dollar collapses, and becomes worth a lot less in purchasing value - that means everything will increase in price. Even wages will need to increase, because your employer can not expect to pay you in a week the same it would cost you to buy eggs at the store.
The one way that type of inflation could actually benefit you is that your debt will remain unchanged. You might be able to sell a few collectibles or other physical assets and be able to pay off all your debts.
Back when Germany went through hyperinflation in the early part of the last century there were stories of farmers paying off the loans on their entire farms for the sale price of a single egg.....
It certainly all is SCARY, though. I'm sure it's not as easy as it seems to predict and we all must be ready as best we can.
...
Thanks John
That is an answer that actually has some substance. I am naive about all this hyper mega inflation stuff. So as long as I keep my overhead low enough to make up for the rising price of energy I should be able to survive yah? My parents own a farm so eggs and beef and pork and mutton and milk ect is not going to be a problem for me. In fact I have so much meat in my deep freeze from them right now I have to give some of last years to the neighbors to make room for this years beef and pork. Once again I don't live out of my means. I live paycheck to paycheck because I choose to only work half a year every year. Im just stupid when it comes to understanding how the money changes when my wages are set and my bills are set.
Http://www.myspace.com/travis_wade2
IF You Have NO DEBT
Which would mean You own 1st, your house and 2nd, can grow(vegetables) or /raise your food,(cattle,chickens, etc... then you will be way ahead of most Americans. If you are able to be energy efficient and have your own solar capabilities for power...(Water catchments).then of course no bills are good $$$ bills! :)
Problems happen with wages though...
Sound like you're probably "set" better than many other people (eggs & etc from the farm are good... but don't forget that animal feed will probably go up substantially).
But, for a lot of other people living "paycheck to paycheck" they are in deeper doo-doo; especially since most employers will resist increasing wages... (and the government will help THEM, not you -- read up on Nixon's WAGE controls).
But even without a govm't imposed "wage control" most employers will do whatever they can to delay, drag their heels, etc. (A lot of then have ALREADY been doing this the entire past decade -- putting off those "annual reviews" so they become more like once every 18 to 24 mos -- and then trying to minimize raises because, heck the govm't says inflation is only 2% right?)
People who work with unions CAN be screwed (temporarily) worse than others because they normally have long term contracts, and it is difficult to get those renegotiated or to get wages linked to increase on anything but government provided (and manipulated) COLA inflation numbers.
Meanwhile... food, gas, utilities, and other "necessary" items that don't have pre-contracted dollar values assigned start slowly going up in cost... and on an almost daily basis.
Which, BTW will end up several months later in a LOT of folks defaulting on their credit cards... which will cause a further disaster in the financial industry when that debt goes bad.
Are you ready for the truth?
You are screwed. If you are living paycheck to paycheck right now then you are in serious trouble. You better figure something out..... I am not trying to be an ass.....I am just giving you the truth.....
#1 Get out of debt...(Sell the truck)
#2 Downsize EVERYTHING
#3 Start buying Silver (Long Term Protection)
You better start now.......and prepare now....
Also...be ready to walk away from your mortgage and RENT....
If you have to do it to survive...who cares...
my 2 cents
OK takeaction....
That told me absolutely nothing. I will still have my job which is in the energy business, ( I run heavy equipment installing gas and oil pipelines) Also I have Job Security as I am Union ( local 12) with the same company for almost 6 years so.... I will still be making money even if it is worthless. What my creditors demand is the worthless dollar I make so.... how exactly am I screwed? Also I only work an average 6 months out of the year down here making this big California money so I can spend more time at home in Idaho ( which is an extremely cheap place to live) with my 2 children from my previous marriage. Don't get me wrong. If I have to work the other 6 months out of the year to pay the bills I will. I live paycheck to paycheck because I choose to only work half a year and draw unemployment the other half. So tell me how will buying gold and silver benefit me? I just don't understand how a depression or a collapsed dollar is going to effect me. Walk away from my mortgage...lmfao. And my truck makes me an extra 30 dollars a day and I have a company gas card. So the truck is going nowhere. My mortgage and my truck is my only overhead except child support and my cell phone. It's not like I have lived out of my means, I'm just not a greedy man. explain explain explain.
Http://www.myspace.com/travis_wade2
HMMMMMM......
HMMMMMM......
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
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"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
if you are working for this
if you are working for this company you should be making a decent wage!
just start buying pre 1964 90% silver dimes or quarters..that is what you need to do! only gold and silver and farm land will keep their value or go up! why the hell do you draw unemployment on the rest of us? your part of the problem if you are on the welfar dole!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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I'm no expert but....
Common sense tells me that if your debts will not increase as the dollar's value decreases it would make more sense to keep your house and truck, and only make minimum payments on your credit card for the time being, as you could pay them off for pennies on the dollar in that hyper-inflation scenario. It does make sense though that you sell off things that you don't need, cut back, or try to work a little extra if you can and purchase some silver and/or gold. We all know that the value of precious metals will skyrocket when the dollar fails. If you knew the lottery numbers in advance wouldn't you kick yourself for not buying a ticket when you had the chance?
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Gold is usually clobbered at 10 AM ET ...
... right before the "London Fix."
I would not be at all surprised if the 10 AM plunge is vicious tomorrow. But who knows?
Agree 100% Jive.
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Personally... I think it will "wobble" a bit...
Up initially, then as the market "warms" to the buyouts and stuff... it'll probably come back down a bit.
Remember that the market LIKED the nationalization of Fannie & Freddie.
I'd bet they will see the Lehman bankruptcy as a problem, they'll be ambiguous about the AIG begging a big Fed loan, but will view the buyout of Merrill Lynch by BoA as a wonderful "sign" that the toxins have nearly all been conquered, and that everything is good again.
Until the next panic hits in a week or two... (WaMu and Wachovia).
Bird & Fortune explain how Investment Bankers think & act:
http://www.youtube.com/watch?v=SwRFoxgEcHc
Its
Its going to continually go back up for the near future as long as we have these unstable bank issues.
Gold going UP in dollar terms NOW, Sun night
Whatever happens on Monday, the long-term trend for gold (versus the dollar) is UP, in part because the US dollar is racing to parity with the Zimbabwean dollar -- where it was in 1980 or so, when both "dollars" were much stronger than they are now. Today's Zim$ is worth less than toilet paper, and with all the bail-outs and other fiscal insanity our Gov is guilty of lately, the American $ will arrive at that point -- well, sooner or later. I'm guessing "sooner."
Gold, on the other hand, changes little in value: an ounce of gold would buy a decent suit and pair of shoes 100 years ago (or 2000 years ago, for that matter), and it still will. A $20 gold piece (about an ounce) bought a single-action Colt in the late 1800s, and it pretty much will today.
Long-term, gold is more for preservation of wealth than for investment profits, but the gold price has been suppressed for years for a variety of reasons (including central bank and other actions) at the same time the dollar has been over-printed to a staggering degree. Your dollars are worth less today than they were last year, and will be worth still less a year from now. Thus I expect gold will be worth much more in dollar terms, very soon. Ignore market volatility and focus on the trend, and on the fundamentals behind the trend. Even in a deflation, gold holds its value -- unlike fiat money, gold NEVER loses all its value, or even close to it. Fiat money goes to ZERO eventually -- long term, there are no exceptions.
Here's a longish column on the subject, including discussion of how gold reduces government tyranny and thereby protects life and liberty: The Meaning and Value of Gold
http://www.strike-the-root.com/82/allport/allport2.html
good up $16
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http://www.kitco.com/charts/livegold.html
-----
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BUY
BUY BUY in my opinion.....
To answer your question.....even with all of this BS going on....you will not see gold and silver skyrocket "Yet" like it should. The powers that be will keep these prices low. Even though Gold and Silver are up right this second 3 to 4%...........I think it will still go sideways.....this is a gut feeling......and this comes from years of watching this manipulated market....I could be wrong....but so many times I have seen PM's go up on the Asian markets, then crushed in the US markets....
If I was a trader...I could of been rich...but I am 100% Physical....
So I will guess.......Gold tomorrow will hit $815 and close at $801.
What is gold going to do tomorrow
I think gold might wake up and go for a jog around the block. Call up silver and make funeral arrangements for old green back. He hasn't been feeling so well lately. Even though old green back was feeling strong these past few days the doctors don't think he'll make it. Gold and silver will then watch some TV and have TV dinners.
:)
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Great reply.
(-: Induced smile appreciated.
I don't trade his trades but he gets lucky
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"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
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US$ falling against the Aussie.
___________
Lisa C.
**This space is available.**
Ron Paul "Sign Wave Across the USA" -- November 5th!