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Gold should hit 1000 an oz today
Submitted by kidbquick on Fri, 02/20/2009 - 08:43
go gold! i am so happy i cashed out my 401k last year and bought gold and silver! » |
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What goes up must come down.
What goes up must come down. Don't get blind-sided like stock holders did.
..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
Only thing I won't store is paper, so the stock market is out.
I agree, we can't allow ourselves to be herded like cattle all running in one direction and then lead to run in another direction. Strength comes in diversity, not everyone doing the same thing. If all of us "Revolutionaries" are putting our money only into gold, who are we going depend upon when it comes time for us to spend our gold? A question that we need to keep asking ourselves.
I am all for a system of real money, and like Ron Paul I think we should have competing currencies. Buy a little gold, spend a little gold, I'll even trade a little gold for some paul-ladium if there are any takers? Precious metals are always good for the short term, but I am not going to let them sit in a safe collecting dust. I plan to put them to work, trade them for skilled labor and build something that produces.
grant
It would be stupid to put
It would be stupid to put all your money into anything to store wealth. But eventually the business cycle moves forward. I just don't want people to put blinders on.
Right now investors around the world are taking their money out of the stock markets, this is why the dollar, gold and silver are going up. They are traditional safe havens. In this case I believe the dollar is not the best, but as it is still necessary to do trade via the dollar, it will remain a safe haven. I believe that markets will fall even futher, and we could see the stock market fall below 3000 over the next 3-6 months, perhaps even lower. This will cause people to put their money into the dollar, gold and silver. But eventually they will begin to spend the dollars, the gold and the silver.
I haven't lost anything investing in palladium as opposed to gold. I bought when palladium was trading at 4.6 ounces to an ounce of gold. Today gold is up to 1006 and palladium is at 218 which is right at 4.6. My storing a little wealth in palladium is just as viable as gold for the moment. At one point though people will begin to spend gold, and you will see the price of palladium rise against gold. In the past it has risen to 4 times the price of gold.
There is 120,000 - 140,000 tons of gold above ground with many reserves ready to be brought on line by producers. Do you think gold mines are producing now or shutting down? Of course they are producing, just as petroleum companies pumped out record amounts of petroleum during that phase of the cycle, racked in the money and did more exploration.
There is 3000-4000 tons of palladium above ground with very little on reserve, in fact there are only three major producing countries of palladium, Russia, South Africa and the U.S. with Russia being the major supplier. In the U.S. there is actually only one mining company that produces PGM that being Stillwater.
I don't know how wide the spread between the price of gold and palladium will go, but it looks pretty good to me.
grant
I am sorry
I really have to disagree with you on the Palladium play.
I am not going to spend an hour explaining to you why gold is the best investment in turbulent times.
I am just going to give you one thought of mine.
When Shit hits the fan......or the fiat currency collapses.....how trade able will your palladium be?
If you needed some of my food, ammo, or something else and offered me palladium.....I would tell you to take a hike. Gold and Silver....Yes........it is a worldwide understood commodity.
Palladium as well as Platinum are 100% commodity plays based on catalytic converters and other production items. These metals are not "Real Money" in history terms.
I will stick to Gold and Silver.....the proven money for thousands of years.
This student knows a little bit as well.
First off I had my shots for gold fever a long time ago, it is just a tool. From personal experience, having worked in the mining industry for one of the largest gold mining companies in the world, I probably know a lot more than what you ever would want to know about gold.
As for needing to trade for food, ammo or something else, that is something you should prepare for long before you invest in gold. I would hope you don't believe gold is going to save you if things really hit the fan. The ones that are going to make a killing on the market are the ones that are going to charge you an outrageous amount of gold for food, ammo or something else.
All I am saying is don't let the fever take control of your mind, don't be hoodwinked, but if so take the blinders off and be careful not to be stare at the light too long...
grant
1007.20!!!!
Amazing...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
The dollar is also on the
The dollar is also on the rise today, gold and the dollar are now competing currencies on the internation market, which will go higher?
WOW $1006!!!!
How High can it go today???
http://www.goldseek.com/
Be careful with
Be careful with gold.
Prepare for ways to spend your gold. Tools, other useful commodities, land.
Just having it sit idle serves no purpose, money needs to be spent otherwise it is worthless.
grant
???A store of wealth serves no purpose???
My silver/gold is worthless??? Ha, I'll put all my bananas in palladidumb.
Zimbabwe here we come!!
1001.10 now...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
Over $1,000 again!
Gold $1,000.00 $1,001.00 up 23.50
Silver $14.60 $14.65 up 0.60
Platinum $1,085.10 $1,095.10 up 13.61
Palladium $216.50 $221.50 up -0.10
Updated:2/20/2009 11:44:05 AM CST
http://www.apmex.com/
BOOOOOM!! 1000.70 for one oz
There ya go...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
so did my hubby...
Libera me, let the truth break, what my fears make--Leslie Phillips
But that man should play the tyrant over God, and find Him a better man than himself, is astonishing drama indeed!~~D. Sayers
There is no difference between an authoritarian government from the right or the left...F. A.Schaeffer
Remember the manipulation!!
Remember silver ... went to $20/oz, and then back to $10 per oz!! Don't necessarily go by what you think the market is going to do, go on what you think the manipulators will do/are doing .......
We'll see.
Stock market down...PM up...People are abandoning the
markets world wide and headed for PM. There will be a run on all PM and the PPT will not be able to stop this. COMEX defaults and defaults in the silver market are coming with big one day jumps in everything. I am just guessing off course. I have no insider info like Reinhardt. He was only one-week off in his prediction. The stock market broke through its supposed "bottom" support yesterday. That means it must find a "new" bottom.
Be careful!
What you're seeing in gold is probably the single big rally in a downward correction that began early last year. The ElliottWave.com folks predict a slide down to the 600s, beginning real soon -- like maybe now. Depending on how quickly the price falls, it could reach its low by the end of the year, but more likely will turn around in the early months of next year. THEN you can look forward to a climb to significant new highs.
Cool
Then I can buy some more! Bwahahahaha!
If last year was an indicator
March will see alltime highs for Metals...especially sIlVeR
I hope you are right.. for
I hope you are right.. for silver to hit an all time high that would mean 50.00/ounce. Just remeber the COT's are showing that 1 or 2 large US banks are piling in on the short side of the futures market. they could force silver and gold back down drasticalyy just as they have before. don't be surprised if it happens again.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
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)
Hey McCain-----┌П┐(◣_◢)┌П┐
PPT has had their coffee and donut, now working hard....
on lowering PM prices and mitigating stock loses.
Yay..I decided to hop on
Yay..I decided to hop on board a few weeks ago and didn't get any gold..and now won't be able to..fudge...
All I can hope for is silver to skyrocket..but jumping by pennies isn't going to get it there..:-(
http://www.lp.org/
http://mises.org/
Logic let me tell you.
Buy palladium, it is following right with the price of gold. A month ago an ounce of gold would buy 4.6 ounces of palladium. Today an ounce of gold buy only buys 4.56 ounces of palladium. Palladium is selling at all time lows relative to gold, so it is time to get in. During it's peak palladium sold for 4 times the price of gold. Par with gold is around 1.8 times the price of gold, so there is a large spread to get in on.
grant
No worries..my interest has
No worries..my interest has been sparked and I'm already looking into purchasing some...Unfortunately for mr though...these aren't the best of times...But I remain focused...
http://www.lp.org/
http://mises.org/
Dow worth 7.47 ounce of gold
Dow worth 7.47 ounce of gold now ^_^.
EDIT: Make that 7.35.
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
999.90 now...
Sort of sad in a way...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
$999.40, just hit $1000 then
$999.40, just hit $1000 then dropped to $995.00
Remember in December Merril Lynch said Gold would reach $1000 in the first quarter.
Bob Chapman said if the Dow went below 7600, no bottom after that.
There have been 146,345 positive e-mail responces to Rick Santellis' call for a Chigago Tea Party.
Rock and Roll!
"You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning." --Andrew Jackson,
1828
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
So much for $1500 by Thanksgiving 2008 ...
Eehh Sierra?
WAHOR!!
http://www.dailypaul.com/node/48994
WAHOR!!
http://www.dailypaul.com/node/48994
umm please pull up the post
umm please pull up the post where I said that.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
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)
Hey McCain-----┌П┐(◣_◢)┌П┐
Well here is the silver quote ...
http://www.dailypaul.com/node/65491?page=1
page two ...
I am still looking for the gold quote, but I will find it ...
For the record ...
It seems that, becuase of the economy and the utilitarian use of silver ... I will be a month off, but It is there to see.
WAHOR!!
http://www.dailypaul.com/node/48994
WAHOR!!
http://www.dailypaul.com/node/48994