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Wake up Goldbugs, Gold Skyrocketed overnight; Who would have thought...
Topic Started: 20 Jun 2014, 06:49 AM (21,983 Views)
Trojan
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Jimbo
8 Sep 2014, 07:35 PM
As for the selling the PPOR for a $1.00, if the market price was a dollar, even if I had paid a million for it, I wouldn't lose a cent if I then changed that $1.00 into another house.
But you didn't change into another house - you are renting now.
Your financial situation would be a lot worse now had you sold it for $1.

All the if's in the world won't change the fact that you personally sold your PPOR for a profit and chose to rent instead of buying another PPOR.
Edited by Trojan, 8 Sep 2014, 07:45 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Jimbo
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Mike
8 Sep 2014, 07:30 PM
You noticed that as well.

Mike,

You remind me of the daggy kids at school who tried to buddy up with the big boys and get them on side.


Trojan
8 Sep 2014, 07:42 PM
But you didn't change into another house - you are renting now.
You're financial situation would be a lot worse now had you sold it for $1.
No it wouldn't. Because if houses had fallen from a million each to a dollar each then rents would have fallen as well.

I would invest my dollar and aim for a return of 2 cents a month whilst paying rent of of less than 2 cents a year. I would then swoop in to buy a much better house for $1.00 once prices had fallen a bit in my price range.

Simple maths.
Edited by Jimbo, 8 Sep 2014, 07:46 PM.
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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Trojan
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Jimbo
8 Sep 2014, 07:42 PM
No it wouldn't. Because if houses had fallen from a million each to a dollar each then rents would have fallen as well.

I would invest my dollar and aim for a return of 2 cents a month whilst paying rent of of less than 2 cents a year. I would then swoop in to buy a much better house for $1.00 once prices had fallen a bit in my price range.

Simple maths.
Adding another "if" still doesn't change the fact your bank balance grew from your PPOR rising.
Anyway, I think I'm satisfied that you aren't here to debate intelligently so I'll put you on the troll list. :bye:
Edited by Trojan, 8 Sep 2014, 09:19 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Jimbo
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Trojan
8 Sep 2014, 09:17 PM
Adding another "if" still doesn't change the fact your bank balance grew from your PPOR rising.
Anyway, I think I'm satisfied that you aren't here to debate intelligently so I'll put you on the troll list. :bye:
Just because you don't understand my answer doesn't mean that it is not an intelligent answer.

It just means that you don't understand my answer.

You started this by ridiculing me for saying that I had bought physical Gold for the long term.

I don't know anyone who trades physical short term. That would be pretty dumb.

You ridiculed me because Gold had gone down by $16 since I bought it. Apparently I had lost money?

You are the one who doesn't understand the concept of the only two prices that matter (buy and sell).

Meanwhile, if you are not going to respond to any more of my posts, that is no great loss for me.

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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goldbug
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They're just jealous. We have a bulletproof hedge that they can't afford and we show them up for what they are, 2bob millionaires, a couple of interest rate changes from insolvency.
When you don't owe the man, you are the man.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Jimbo
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goldbug
9 Sep 2014, 10:36 AM
They're just jealous. We have a bulletproof hedge that they can't afford and we show them up for what they are, 2bob millionaires, a couple of interest rate changes from insolvency.
When you don't owe the man, you are the man.
Gold Is Money, Everything Else Is Credit
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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Norm
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Jimbo
9 Sep 2014, 10:45 AM
Gold Is Money, Everything Else Is Credit
Money is a current medium of exchange. Gold can't be exchanged for anything much, without first converting it into real fiat money.

So gold itself isn't money, but it can be bought and sold using real money, like any other asset.
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Frank Castle
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Business As Usual

Quote:
 
goldbug the forum fucktard
9 Sep 2014, 09:36 AM
They're just jealous.

Of ZERO yield metal? :lol
Quote:
 
goldbug the forum fucktard
9 Sep 2014, 09:36 AM

We have a bulletproof hedge

That has plummeted from its highs and has ZERO yield :lol
Quote:
 
goldbug the forum fucktard
9 Sep 2014, 09:36 AM

that they can't afford

Can afford millions of dollars in property but cant afford gold @ $1200/oz? :re:
Logic FAIL right there monkey boy
Quote:
 
goldbug the forum fucktard

9 Sep 2014, 09:36 AM
When you don't owe the man, you are the man.

Has unencumbered properties paying 14% in COLD HARD CASH every week
Vs you with some shiny baubles paying ZERO

When you don't owe the man and your investment pays cash every week you are more of "the man" than the clown with ZERO yield metal will ever be.

Now go back to polishing your knob metal :lol
Jimbo
9 Sep 2014, 10:45 AM
Gold Is Money, Everything Else Is Credit
Gold is ZERO yield metal that is good for nothing but a paperweight unless sold to the greater fool

Actual cash from rent monies is money - Money that I can actually buy stuff with.
Edited by Frank Castle, 9 Sep 2014, 11:02 AM.
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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Count du Monet
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Jimbo
9 Sep 2014, 10:45 AM
Gold Is Money, Everything Else Is Credit
Fiat notes are money as well, they are not credit. They are no longer notes of credit for gold, the buck stops with the fiat note. They are the last unit of account. They operate as a synthetic trade good on the market.

However they are not constrained by natural supply.

Since the GFC, on average the USD has been domestically devalued by 6.6% pa. At that rate the USD will halve its monetary value every 11 years. But the buying public noticing it, is something that happens in quanta. They notice it one day when becomes very obvious. The US fast food workers have noticed something, the entire public will wake up as the 2019 date approaches when the dollar will have lost half its 2008 value.

In 1970's the dollar was being devalued at a more breakneck pace, but it was so noticeable. So much so that in Aug 1979 the US bond market virtually collapsed.

Then came the wizard Milton Friedman with his benevolent constant rate of price inflation of 2% to 3%. In reality one can double this as a real monetary rate of inflation of 4% to 6%. But there is no benevolent rate of inflation. It was trickery, the real issue was to find a rate of inflation that was less noticeable. It is the boiled frog trick, boil the frog at a rate that it doesn't notice so it doesn't leap out the pot. This became policy for the Western central banks under Basel.

However the FED is now exceeding the Friedman upper limit of 6%.

Gold is now a real danger because it is now floating on the world market like other currencies. As I've said, gold is now more or less what it is worth. Which means it is still an ok security addition to a portfolio. To undo gold the only real option for the central banks is to hoard it and make it overvalued and hence make it useless as an investment. This of course cannot hurt the gold investor.
Frank Castle
9 Sep 2014, 10:59 AM

Of ZERO yield metal? :lol





Well in the case of the US, unless your investment yields 6.6% pa after tax, in the long run it won't beat gold.

It's not quite that smart when you talk about a yield measured in fiat money which is constantly devalued. Like Munchhausen you are picking yourself out of the water with your own arm, exclusive of the laws of leverage.
Edited by Count du Monet, 9 Sep 2014, 11:24 AM.
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!!!

Don't be SAUCY with me Bernaisse
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szokolay
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Just because you can't quantify the yield on an investment doesn't mean it isn't there. In 1970 gold was $35 an ounce, in 2000 it was $250 an ounce, today it is over $1200 an ounce. If you want to protect some capital against inflation and still have it in a liquid form gold is your pick.

You cannot compare it with residential property anyway, it has no council rates applied to it, no maintenance fees, no yearly taxes or any of the other downsides that property exhibits. It value wont even be effected in a flood or other event which can destroy a homes value. Unfortunately it is very expensive to get into and therefore is not for the average investor. Most are forced to borrow from banks in the hope of beating future inflation. Good while the market is going up, devastating if you get your timing wrong.

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