no fuckhead gold is priced in USD. hence why you try to distract everyone with showing prices in AUD because the AUD has tanked.
everyone is on to you, we aren't fooled at all.
I'm a fuckhead? If any of you clowns had actually ever bought any physical gold in Australia you would know that you have to pay in Australian dollars. That is bacause Australian shops don't accept US. dollars.
Hence: Perth Mint Spot Prices Gold ask $1,354.79 bid $1,339.69
Can you buy houses here at US prices? Can you get an interest rate here at US levels? Go back to paying your IO mortgages and leave discussion of real investments to those that understand them.
mel
20 Dec 2013, 04:02 PM
For the sake of argument I would like to know what cherry picked number he can provide for an AUD gold purchase and compare it with the same money left in an Australian term deposit for the past XX years.
That sort of thinking is why the average aussie like yourself always ends up getting shafted. You look at very long term buy and hold choices and fail to see that the people in this world who make good actually move their money in and out of markets as they rise and fall.
Property for investment (be honest, capital gains) was a decent choice up until 2007. Now it is finished, now everyone is on-board and that is a classic sign of a market that is done. Gold on the other hand has a long way to go because, as is evidenced even here, no one has any money in it.
It has been 6 years since property performed well, 6 years of floundering and all the bulls can say about that is to claim cyclical downturns. Yet to anyone with a brain it is obvious that the massive debt burden carried by the Australian population and the rapid deterioration of our economy is the real reason for properties' failure. Peter proposed on another thread that we could see 20 years or more of low interest rates? That is just so unlikely it's laughable yet that is the only thing now that can save the average property investor.
Minor price bounces aside, property is dead. Nothing can save it now.
Peter proposed on another thread that we could see 20 years or more of low interest rates? That is just so unlikely it's laughable yet that is the only thing now that can save the average property investor.
The problem there is we are on a floating currency and subject to what goes on the rest of the world. In the case of the US there was a long period of low rates from the great depression, WW2 to the end of the 40's when the US government legislated controls and high taxation. Eventually after a few decades the consequence arrived of the highest O/N rates in a currency major in history.
Currently the FED is expanding its balance sheet to keep rates low, while the ECB is doing the opposite.
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
Go back to paying your IO mortgages and leave discussion of real investments to those that understand them.
frank when you first showed your face on here you thought gold had yield. you didn't even understand what yield was, so fucking funny.
the bottom line, is that you can't point to fluctuations in currency and claim it's the value of gold that's moving. I'm sure the gold dealers LOVE greater fools like you.
I am the love child of Tony Abbott and Pauline Hanson
timmy the gold I bought here in Australia is still up nearly 50% in value, it has yielded a gain of nearly 50%. I don't care about the narrow vehicle specific definitions you were fed at the property seminars, because as correct as they may have been, the fact remains that neary every major precept they taught you turned out to be a lie.
Houses don't double every 7 years now do they. Rents don't go up naturally year after year do they.
You, like BP, shadow, and a host of others here, were suckered into buying houses and units on mortgage at the top of a decades long bubble. Just as the Australian economy was about to tank. I couldn't think of a more dangerous play. Even if gold were to fall to $500/oz australian I would be ok because it is paid for in full. You have a huge leveraged chain around your neck and the water is rising.
Here, some advice from your god and saviour.
Quote:
Australia should not be foolish in thinking it is going to continue having uninterrupted economic expansion, RBA governor Glenn Stevens says, warning that a downturn would happen eventually.
Remember chatting with a dude in about 2003 when gold was up to $560 from its $250 odd low in 2000 or whenever it was - He quipped "Quick - Buy now before it crashes!" After which it ultimately went to $1,800. And on the way up (in maybe 2009? After a quite nasty hit in 2008) I swapped a few emails with a Bulgarian (Hungarian?) economics PhD who'd scored a job lecturing in a Saudi uni - He reckoned $6,000 was the go. We ended up agreeing ta disagree ...
The shiny shit is too damn difficult for a mug like me to attempt to value.
I'm happy ta pretty much just say it's right up there as a very chemically non-volatile, very financially volatile type of enigma 'n pretty much just leave it at that.
PS: I own squat - 7 oz maybe? (of 22 ct jewelry mainly.) Mainly bought in Dubai in 2005 at whatever the price was then ($800 maybe?) ...
PPS: A thought - If I was a family 'patriarch', I'd be looking 'n saying I need maybe $10K of gold to cover off on my youngie family type member's jewelry needs over the next generation. And I need (as a QLD boy) about $700K in housing ta cover off on their needs re same over the next generation. And asking meself which shall/should(?) I direct the very great bulk of my purchasing power towards? ...
That sort of thinking is why the average aussie like yourself always ends up getting shafted. You look at very long term buy and hold choices and fail to see that the people in this world who make good actually move their money in and out of markets as they rise and fall.
Being as clever as you are, why didn't you cash out at the top? Given all your technical knowledge, why have you continued to hold on through a number of support levels?
The paper loss you have suffered since the peak is far greater than the loss I suffered, but you really know what you're doing, right?
Why does it make sense to hold onto something that is crapping out in nominal value during a time of supposed high inflation?
It doesn't make sense to hang onto a falling asset, but to sell when you had convinced yourself that it will go higher means admitting to yourself that you were wrong, and that can be hard to do for some people.
It's a type of inertia caused by pride.
Any expressed market opinion is my own and is not to be taken as financial advice
timmy the gold I bought here in Australia is still up nearly 50% in value, it has yielded a gain of nearly 50%. I don't care about the narrow vehicle specific definitions you were fed at the property seminars, because as correct as they may have been, the fact remains that neary every major precept they taught you turned out to be a lie.
it's basic finance you moron.
i bet you smiled while the gold dealers fleeced you, didn't you?
goldbug
21 Dec 2013, 06:16 AM
You are about to get sodimized
give me a few pointers. after gold plummeting in value you must know a thing or 2 about it.
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