I'm now considering to buy gold, BUT!
Posted August 24th, 2008 by GREEDisBAD
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After the major declines, both gold and silver are less expensive relative to the peaks that we saw this year. Therefore, I am now considering to buy gold, silver and/or maybe some mining stocks, but these two charts really scare me.
This chart
http://www.the-privateer....
clearly shows that gold broke the green up trend line in the chart. This might be indicating the end or a prolonged pause of the up trend, but I'm not sure.
In this chart,
http://www.the-privateer....
I can count 5 waves and this could be indicating the end or a prolonged pause of the up trend, but I'm not sure.
So, I have very mixed feelings about gold and silver and am totally confused at this point. I might decide to buy gold, silver and/or some mining stocks or I might not. I haven't decided anything.
BTW, I'm planning on going to Depression2. TV to continue the discussion since I believe it's more appropriate to talk about this over there than here. And, I also want to talk about copper over there.
So, before I leave DP in terms of discussing the prices of gold and silver, I just wanted to reiterate my opinion that I don't know what will happen to the prices of gold and silver and I don't know what to do.
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I wrote
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
my take on gold here.
http://www.depression2.tv...
The Case for Gold. Last chance to load up.
http://www.dailypaul.com/...
I consider gold and silver
as a hedge, and not an investment.
I think that there will be an artificial effort to keep the metals low against the dollar until the election is over. Just a guess.
Be careful with the mining stocks.
Some mining companies are good at finding the gold and silver, some are good at finding rocks.
buy
Gold and Silver Coins as a long term investment.
Well,
I heard that the dollar lost 50% of its value since Bush took office.
I don't believe that gold lost any of its value, gold is inflation proof.
No one knows
As many charts as people can produce, you can produce counter examples for when the charts are flat out wrong.
In the gold market, you're factoring in the product of 6 billion individual decisions. If anyone can predict what billions of people will decide to do with the fruits of their labor, they're a better man than I.
One thing I can leave you with...I will absolutely guarantee the price of gold will be higher 10 years from now. That is a certainty, because the dollar declines and gold stays at even value.
It's really an unsafe investment, but if you intend to squirrel away, you probably can't get much better stable value.
If you're buying to make a profit in months, then buyer beware...but if you're buying it to hold for years, decades, then just buy and don't watch the daily spot price.
In order to hold it for 10 years, one must have
a steady stream of income and/or enough savings, in my opinion.
This has been the main point I always wanted to make.
Yes
One should never bother holding gold if you plan to cash it in any time soon. The buyer's premium you'll pay will eat up any advantage you hope to have.
Think of this as your 401K. It's a nest egg, and should not be touched unless as a last resort.
Well, I have decided...
This is definitely NOT a recommendation. This is NOT advice. But, I have decided to buy a copper stock. My order is in and it should get executed soon. This is not a confident decision and I am not spending a significant amount of money. This is more like a hedge just in case I am wrong about copper. I don't understand why copper should go up. I believe that copper should go down when the economy slows down, but just in case I'm wrong, I've decided to buy a copper stock. But, I'm not spending a significant amount of money. Whether it goes up or down, I would not make or lose much money.
As for gold and silver, my feeling now is quite neutral. They might go up or go down. Who knows. I would nibble a bit if I had more money. I want to buy a gold coin, but I guess I have to wait for a while to earn some money.
Still, my favorite by far in my finance is U.S. dollars because I know exactly what I need to do with the amount of U.S. dollars that I'm saving. I will need it to pay my bills. To me, that is much more important above and beyond any investment.
Copper? oh boy... LOL! What
Copper? oh boy... LOL! What can I say... just when I think your getting a clue
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Prepare For the Coming Storms, Join New FreelandersSelf Reliance & Preparedness Forums
Here's an idea
Why don't you go out and get yourself some of that paper--or even better, electronic--bullion? I hear that it's almost as good as real gold and silver, plus you don't have it cluttering up the place you choose to store it. Not only that, but I've heard that you can pay someone else to hold your bullion for you, and some of these same companies will charge you fees on bullion that they don't even have in their possession! By the way, I have another perfect paper investment for you--mammoth meat futures. You can take possession when you are standing in line at the soup kitchen next year.
"I just wanted to reiterate my opinion that I don't know what will happen to the prices of gold and silver and I don't know what to do." That really has always been your problem, Greed; you don't have the capacity to see that you don't buy gold and silver as an investment strategy. Sure, a lot of people--myself included--have made the decision to buy physical bullion and store it. We may win, we may loose, or, more realistically our gold and silver will retain value over time to other goods in the economy after all other promises to pay have failed. We have decided to protect our wealth in something other than debt vehicles or other paper promises that depend on someone else to pay. You never got that, and instead will be unable to pay for goods if the currency collapses. I find it absolutely outrageous that after the months of trolling this site that you still will not protect yourself in this most basic of ways.
Did you know that delegates to the Republican National Convention should never, under any circumstances vote for John McCain? Instead, they should vote for Dr. Ron Paul; because, after all, a vote for Ron Paul is a vote for freedom.
Silver Price Manipulation
Good article by Jason Hommel outlining some of the surreptitious and criminal central bank manipulation of the price of silver (and gold):
http://news.silverseek.co...
I have seen all the chart techniques in the world..
And one may work here, and one may not work there. Find the best 5 indicators and hope for the best. But I believe in 1st and foremost suppy and demand. It outweighs everything else,and eventually will play out. Gold and silver is the equivalent of holding a basketball underwater. They may suppress another year, but when they let it go, or a hedge fund takes delivery, or any other event, the dollar will drop like a turd from a tall moose. I'm not good enough to know when this happen and neither are you... Beats the dollar in a bank...
600 year GOLD chart
I found a link and posted at Depression2 tv. I thought this chart was very interesting.
Don't do it, Bernanke said
Don't do it, Bernanke said recently the price of gold will drop. He also said in Feb. 2008 that gold is a good investment for short time...we are almost in September now...so "the short time" is over.
A week ago gold was around $790, it will get there again and even lower. Expect gold around $750 or lower in the next 2-3 weeks.
I see some dummies saying "nobody knows where the price of metals are going", I feel sorry for them, the idiots are so arogant that they dismiss everything the top economic players are saying, those idiots take pride in not listening to nobody except the people who tell them what they want to hear.
Believe it or not those clowns are "learning" about gold from sites like GATA...looool, which is nothing more then a group of people similar to those believing the earth is flat or aliens really exists.
congratulations! you get
congratulations! you get the most stupidest individual award on the daily paul!
"Bernanke said"????? HAAAAHAAAAAA!!!!!!
Your country just agreed to offload 15 tonnes over the next twelve months so they could increase their foreign reserves.
Stupid Sweden.
Bernanke is a top economic adviser?
GREED you really crack me up.
I challenge you to a duel -- your lameness against Bill Murphy at GATA.
___________
Lisa C.
www.dvds4delegates.com=Ron Paul, the 44th U.S. President
Join us at: www.campaignforliberty.com
Brought to you by: www.women4ronpaul.com
Our resident anti-gold troll has spoken
Your continual bad-mouthing of gold is revealing of your true malicious, statist nature, but your hysterical and ridiculous insults against GATA put you squarely in the camp of those who hate freedom and love coercive big government. GATA (The Gold Anti-Trust Action Committee) has done outstanding work documenting the manipulation by the central banks of the prices of gold and silver, which has been ongoing for decades now, and has picked up steam in the last ten years. The primary reason governments, through their central banks, are doing this is in a vain attempt to hide the full extent of the monetary inflation they have inflicted on the world's economy, the price of gold in particular being an excellent barometer of inflation --- or it used to be, and would be, if it were not held down by central bank "dishoarding" and other more murky machinations.
I encourage everyone to visit their website, and learn the facts about the extent to which governments are willing, and trying, to go to beat down gold:
http://www.gata.org/
Fact is
Fact is that nobody knows where the price of metals will be in the next 10 years. Especially not the salesmen and those who quote them and tell us where the price will be. Looks like a classic bubble to me.
SIERRAHPBT, at what point will you be forced to sell your
silver? I think you said that your business has been slow, and therefore, you are not buying silver lately and also you bought silver a long time ago at much cheaper prices. What if the economy went in to a deep depression and your cash flow dried up? At what point would you be forced to sell your silver?
you don't worry about me...
you don't worry about me... you just worry about yourself.. business is slow but i'm no where near closing my doors or bankrupting! I have money in other things too! you better just worry about buying while you can.. 6 billion people on planet earth.... 6 billion ounces of gold.. 1 billion ounces of silver.. the dollar devaluing.. the euro in trouble... asians, arabs, chinese and russians buying gold like no tomorrow.. now why is it the those on the other side of the world are so much more smarter then the average brainwashed american who can't see the writing on the wall?
notice lately how the price of silver and gold are up during the asian trading day then when the market opens up over here the market mysteriously collapses back down? somethings going on and I'm not go
mnna tell what I think it is you guys do your own research! it was common knowledge in the middle east that 911 was going to happen!
so do the asians, chinese know something about our economy that the naive stupid American doesn't? when the world rushes to buy the metals there will not be enough.. your already starting to see this right now..
as for me and my home, we shall worship the LORD
What difference does it make?
He bought silver because he knew what was coming. He'll be fine. What about you?
___________
Lisa C.
www.dvds4delegates.com=Ron Paul, the 44th U.S. President
Join us at: www.campaignforliberty.com
Brought to you by: www.women4ronpaul.com
Just remember your
Just remember your protecting your purchasing power vs the declining purchasing power ofr the paper dollar and not looking to make a quick buck. If you get rich that is just gravy.
If your swayed by every up turn or down turn then your looking for the wrong reasons. Look at the overall trends and the economic policies that got us here and where they are headed and ask yourself if anything in that respect has changed?
Remember the futures market is not the physical market. The futures market does have influence on the price of physical but we are seeing a decoupling of that now.
I personally would stay away from mining stocks and only buy and hold physical for now and for long term.
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Prepare For the Coming Storms, Join New FreelandersSelf Reliance & Preparedness Forums
Stop counting the waves and look at the OCEAN.
Nobody knows anything about tomorrow. You might get hit by a bus and this gold discussion will be irrelevant.
What has been the trend for the US dollar since 1913? Down.
Who is the biggest debtor in the world? The US.
I know money is tight for you so make sure you have enough for your taxes. You will feel differently about metal when it is in your hands. Then you will understand. It is honesty in physical form.
___________
Lisa C.
www.dvds4delegates.com=Ron Paul, the 44th U.S. President
Join us at: www.campaignforliberty.com
Brought to you by: www.women4ronpaul.com
first... good luck finding
first... good luck finding any... you can buy some but if you want to move a major amount of cash good luck..
second... you will pay higher then spot
third.... listen to this interveiw with Ron Paul I would take his advice.. the interveiw starts at 2/3 to 3/4 into the recording.. Ron Paul says to buy and to hold the coins in your physical posession! I realy hope some of you anti Gold and silver types pull your heads out! (not talking to you greed) the man you supposidly support says one thing and some of you guys say the exact opposite! it time to wake up!
http://radio.goldseek.com...
as for me and my home, we shall worship the LORD
Buying silver
And the amount that you will pay over the "spot" price continues to increase --- for me this week, now $3.50 per ounce premium.
Note that this development is unprecedented, by the way --- never has the spot price "disconnected" from the price for physical metal as it has in the last few weeks.
I think I agree that the shortage is real, but
could it be that the demand in the physical market is delayed from the demand in the paper market such as demand for mining stocks? If the demand for paper gold/silver has been declining, will the demand for physical gold and silver follow? I'm just wondering.
if there is no demand then
if there is no demand then the coind delaers etc should have stores bursting with gold/silver.. they don't! the paper silver-physical silver is decoupling!
as for me and my home, we shall worship the LORD
Yes, Sierra, and we should
Yes, Sierra, and we should applaud this price decoupling, because it may very well mark the beginning of the end of the corrupt manipulation that the central banks have engaged in to hold down the prices of the metals, and thereby try to hide the full extent of inflation. They can try to deny reality all they want, but it can never be done forever, because reality has a way of biting back in the ass big time, every time.
I own
lots of gold....but I think Silver has so much more of an "Up Side Potential"...I am buying all the silver I can right now. Silver Eagles are going for too much...so I am buying Canadian Maples, and Mexican Libertads, all Uncirculated from
www.bulliondirect.com...
Just my 2 cents.....
Silver will not go to zero...but the Dollar is.....so I trade all of my extra Dollars for silver.....
TAKE... TRADE YOU GOLD FOR
TAKE... TRADE YOU GOLD FOR SILVER OR ATLEAST 2/3RDS OF IT! YOU WILL BE GLAD YOU DID!
as for me and my home, we shall worship the LORD
I started a thread at Depression2 tv
Not many people there, in fact, I'm the only one who is signed up right now, but I like the site. Hopefully, I will write something interesting.
By the way, I found this link. If you like gold, you might be interested. It's just one person's analysis, but it might be interesting.
http://www.the-privateer....
I'm still considering what to do, and I have not made a decision to buy gold, silver and/or mining shares at these price levels. As far as my personal finance, I still strongly believe that saving U.S. dollars is the most important thing for me to do, right now, so I'm not really in hurry to let go the U.S. dollars that I have.
Your US dollars are going to
Your US dollars are going to be worthless... listen to what RON PAUL HIMSELF SAYS in this recent interview! it starts about 2/3-3/4 of the way through! DUMP YOUR US DOLLARS NOW! were not going to see DEFLATION greed you have been brianwashed! Ron Paul in this interview says so himself! get off the keynsian band wagon!
http://radio.goldseek.com...
as for me and my home, we shall worship the LORD
Here is the problem that I have.
Everyone seems to talk about the overall money supply. I agree that the overall money supply has been inflating. But, I don't think this really applies to the money supply among the middle and lower classes. My impression is that the money supply among the middle class and lower classes has been deflating steadily. Therefore, while it might be great to own gold and siliver, a major decline like the one that we just saw really hurts, in my opinion. For those who do not have much cash flow, balancing bill payments and investments is extremely tricky, in my opinion. Potentially, investments like gold and silver could go down at the same time when your cash flow slows down and the living expenses go up. This is the main reason why I have been so skeptical about gold and silver while they were much more expensive. But, now that the prices have come down rather significantly, I am now considering if this is a good time to buy or not.
money is money are you
money is money are you saying that a millionaires US dollar is different then a midlleclass persons dollar? just wait till all these millionaires who think they are so smart becuase they have a few bucks have those millions eaten away with inflation because they kept there money in US dollars! but the middle class guy who put 20 or 30k into 90% silver will be rich! I'm not saying take every last dollar and put it into silver // i'm saying if you have 75k in the bank put 25k into silver.. you still have a cussin for living expenses plus if inflation really starts to bite the devaluing of your dollars you have will be more then made up with the silver you have! its insurance my friend! thje problem is... ITS GETTING TOUGHT O FIND!
as for me and my home, we shall worship the LORD
No, you don't understand what I'm saying.
You wrote, "I'm not saying take every last dollar and put it into silver."
My point is this. What if some people are already using every last dollar to pay bills? But, who aren't using every last dollar to pay bills?
Take a look at this.
http://mwhodges.home.att....
According to this, "America's total debt" is $53Trillion. My concern is that even if you didn't have any debt, you are likely to feel the impact of this debt in the future. In other words, even if you didn't have any debt, you might be just like someone who has huge credit card debt.
And, I don't understand the argument that debt is inflationary. I have never seen anyone who has huge credit card debt and have too much cash at the same time. If you have too much debt, you don't have enough cash. As a nation, we have too much debt and we don't have enough dollars to pay for it, as far as I can see. And at the end of the day, it's individuals who have to pay for the debt and you and I do not have enough dollars to pay for the debt, in my opinion.
So, I agree with you that gold and silver are likely to be great investments in the long run, but in my opinion, most people are not likely to be able to hold gold and silver for the long run unless they are very careful about having enough dollars to protect their gold and silver for the long run.