Peter F Posted May 20, 2013 Report Posted May 20, 2013 Where is money going to from there? Beats me. I have no gold to sell, so I can only guess: The raging stock market? or perhaps some nations are dumping gold to raise hard currency.? Quote A bayonet is a tool with a worker at both ends
Pliny Posted May 20, 2013 Report Posted May 20, 2013 Beats me. I have no gold to sell, so I can only guess: The raging stock market? or perhaps some nations are dumping gold to raise hard currency.? You can be sure that nations are not dumping gold. You bet it's going into the raging stock market - that's the bubble. Quote I want to be in the class that ensures the classless society remains classless.
Pliny Posted June 21, 2013 Report Posted June 21, 2013 Biggest sale for gold on now! Has it hit bottom yet? Quote I want to be in the class that ensures the classless society remains classless.
kimmy Posted June 22, 2013 Report Posted June 22, 2013 If you bought gold 2 years ago, the value of your asset has dropped by 33% since then. What does this mean? Wasn't gold supposed to be a smart investment that was going to hold its values while overinflated fiat currencies lose value? hmm. Was the gold price bid up to unsustainable levels by speculators who greatly overestimated its future value... ie, a "bubble"? -k Quote (╯°□°)╯︵ ┻━┻ Friendly forum facilitator! ┬──┬◡ﾉ(° -°ﾉ)
Pliny Posted June 22, 2013 Report Posted June 22, 2013 If you bought gold 2 years ago, the value of your asset has dropped by 33% since then. What does this mean? Buy low. Sell high. Not buy high. Sell low. Wasn't gold supposed to be a smart investment that was going to hold its values while overinflated fiat currencies lose value? hmm. Gold may be a bit different from other investments in that it is mostly a hedge, it is not a currency, it is a commodity and not entirely full of speculators but not devoid of them so you will see profit taking as well as corrections. Was the gold price bid up to unsustainable levels by speculators who greatly overestimated its future value... ie, a "bubble"? -k What changed? Other than a speech from Ben Bernanke, nothing. It's a markets reaction to political monetary policy. Real market forces have yet to kick in. If it drops to $250 then it was a bubble. That's where it started going up. I feel like this is a sale. The profit taking speculators have left for a spell. I believe your view is a little short-term but then again I could be totally wrong. Of course, I only read and listen to financial advisors that follow a certain market philosophy. I like Mike Maloney and Peter Schiff. I see a difference between them and what I consider are just number crunchers, knowledgeable in what they do, I suppose but they do get caught up in things like bubbles. I didn't miss your unexpressed joy at this market news, by the way. At least you don't sink so low as to criticize my grammar and punctuation. I respect that. Are we having fun yet? Quote I want to be in the class that ensures the classless society remains classless.
kimmy Posted June 23, 2013 Report Posted June 23, 2013 Unexpressed joy? I take no joy in this. I have no gold myself, and no plans to buy gold. I have nothing against you, or the Leprechauns, or Rumpelstiltskin, or Thrain or Thror or Smaug The Terrible or any of the other gold hoarders. I do find some amusement in how easily you discard information that doesn't fit your world view, though. -k Quote (╯°□°)╯︵ ┻━┻ Friendly forum facilitator! ┬──┬◡ﾉ(° -°ﾉ)
Pliny Posted June 23, 2013 Report Posted June 23, 2013 (edited) I have nothing against you, or the Leprechauns, or Rumpelstiltskin, or Thrain or Thror or Smaug The Terrible or any of the other gold hoarders.Wow. You're good. Nothing against me, but position me with some well-known unsavoury gold hoarders and not great ones, like the central banks of the world. Thanks a lot. I do find some amusement in how easily you discard information that doesn't fit your world view, though. -k "Amusement", now that's a better word. The information isn't discarded. As I say, I may be entirely wrong. But I don't see a great economy because Ben Bernanke is slowing down the spigot. Nevertheless, I do think gold is at fire sale prices right now. Maybe he is just interested in buying some. In the long range I expect it to go above where it was at its peak 2 years ago. The result of slowing monetary growth will allow for a slight correction downward in the consumer price index which will be intolerable to the central bank so I expect a return to higher quantitative easing to get some inflation going. Globally, things look pretty volatile, a further sign that gold will bounce, at least in my world view. Edited June 23, 2013 by Pliny Quote I want to be in the class that ensures the classless society remains classless.
August1991 Posted September 27, 2013 Author Report Posted September 27, 2013 (edited) Bump. Even without the gold question the answer is still yes. The Fed is still printing too much 'money'. Printing money out of thin air and then entering a couple digits on a computer does not make the problem of debt/deficit go away. Gold overall is still a safe investment. It's still worth holding on to. Unless you want to get into something with high volatility like Bitcoin. Sorry GH. Inflation? What inflation? Edited September 27, 2013 by August1991 Quote
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