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Wake up Goldbugs, Gold Skyrocketed overnight; Who would have thought...
Topic Started: 20 Jun 2014, 06:49 AM (21,992 Views)
Poontang
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Key support of $1280 looks shaky.
There are some people who seem angry and continuously look for conflict.
Walk away, the battle they are fighting isn't with you, it's with themselves.

The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it.
The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.

Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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Gold is touted as a hedge against “bad stuff” happening. But depending on how you own the gold, the bad stuff may wipe out your holding.

You get the gold bugs telling you to only buy physical. But when things go to crap who says it won't be confiscated/stolen from the vault?

So maybe you keep it in your house. But if society breaks down you will get robbed either carrying your gold to the market or by armed thugs coming to your house. Either that, or no-one wants your gold and it becomes worthless.

So maybe you want a bunker, hydroponic greenhouse, and lots of guns and fences on your farm. That will probably be overrun by starving hordes too. Where does it end?

Life is too damn short, and you goldbugs are trying to mitigate tiny risks.
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Jimbo
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21 Aug 2014, 09:38 PM
Life is too damn short, and you goldbugs are trying to mitigate tiny risks.
Why do you class anyone who owns physical gold as a goldbug? Central banks hold gold. They don't like the stuff but they buy it and hold it anyway.

I don't have a bug out location or any guns, but I am not hedging against societal breakdown or WWIII.

I am hedging against a currency or other financial crisis. As there have been a few of them in recent history, it is not unreasonable to expect a few more in my lifetime. My holdings are 10% of my total liquid net worth (not assumed net worth).

Most of the nutters can't afford to buy gold anyway. They buy silver coins for a hefty premium with face values 1/20th of their meltdown value.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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peter fraser
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Poontang
21 Aug 2014, 08:13 PM
Key support of $1280 looks shaky.
Yep it sure does. I would post a graph but BB gets cranky when I do.
Any expressed market opinion is my own and is not to be taken as financial advice
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szokolay
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21 Aug 2014, 09:38 PM
Gold is touted as a hedge against “bad stuff” happening.
But if society breaks down you will get robbed either carrying your gold to the market
So maybe you want a bunker, hydroponic greenhouse, and lots of guns and fences on your farm. Where does it end?

Life is too damn short, and you goldbugs are trying to mitigate tiny risks.
I see your point. It's all a matter of attitude and if you have the giveup attitude, the one that says "if the atom bombs go off I want to be right under one" then you will never survive in bad times. Gold is just an insurance policy, against what is now beginning to happen in the world. If your house price falls 30% and you lose your job and you're happy to just curl up in a ball and wait for the government to rescue you then gold is definately not for you.

Besides, gold is very expensive and not many Australians can afford it. It's not the sort of thing you can get a bank loan for.
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goldbug
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peter fraser
21 Aug 2014, 10:12 PM
Yep it sure does. I would post a graph but BB gets cranky when I do.
Best not embarrass yourself again too soon peter, give it a week or two. It was $1400 aussie only a couple of days ago.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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goldbug
21 Aug 2014, 10:48 PM
Best not embarrass yourself again too soon peter, give it a week or two. It was $1400 aussie only a couple of days ago.
yep it could ramp up again to $1400 or it could continue to fall to $1200.

Place your bets...
Any expressed market opinion is my own and is not to be taken as financial advice
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Frank Castle
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Business As Usual

Quote:
 
goldbug The forum fucktard
21 Aug 2014, 09:48 PM
Best not embarrass yourself again too soon peter


Rich coming from you
All you ever do is embarrass yourself :re:

http://australianpropertyforum.com/single/?p=8499302&t=10110944
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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Mike
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peter fraser
21 Aug 2014, 10:53 PM
yep it could ramp up again to $1400 or it could continue to fall to $1200.

Place your bets...
It will fall through $1200 and keep falling.

In a few years from now we will be seeing gold under $1000 and headed for $800.
http://mike-globaleconomy.blogspot.com.au/
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Jimbo
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Mike
22 Aug 2014, 10:44 AM
It will fall through $1200 and keep falling.

In a few years from now we will be seeing gold under $1000 and headed for $800.
I am keeping this one. So now you are an expert on Gold as well.

How did your Iron Ore price predictions work out again?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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