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The Gold Bubble... Just how badly have the silly goldbugs failed?
Topic Started: 21 Jun 2014, 11:46 AM (27,210 Views)
Jimbo
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Trollie
19 Mar 2015, 08:57 PM
And you continue to post threads how you made money exchanging USD for AUD, but you can't see something priced in USD plunging is losing you money.
Last June, I bought heavily into the USD. I bought bonds and stocks using a strong AUD. I got out of stocks at the tail end of 2014 and I dumped most of my bonds in January. The Fed and the RBA told me to do this. Easiest trade in history.

I made USD gains on both, but the big kill was when I converted back to AUD. I gained 15% in AUD just on the exchange rate.

I made a few bucks on the GBP last year as well. That Scottish referendum put $20k in my back pocket for pressing a couple of keys on my laptop. (Hint, buy some GBP if they get to below $1.90 each. The general election result is uncertain and once sorted, the pound will buy you back at least $1.95).

I regret not shorting the Euro and I talked about it a few weeks ago on another thread.

As for Gold, I have made $71 an ounce AUD since I bought in June last year. That is a nett gain, after paying the physical buyers premium and if I were to sell at 98% of spot.

But I didn't buy Gold to make a profit. I bought Gold to hedge against a tanking USD.

If my USD stock and bond purchases had gone belly up as a result of a weakening USD, my Gold would have gone to the moon.

It wouldn't have covered my losses, but it wouldn't have left me broke either.

Not all investment strategies involve buying a house.
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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Trollie
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Jimbo
19 Mar 2015, 09:21 PM


But I didn't buy Gold to make a profit. I bought Gold to hedge against a tanking USD.

If my USD stock and bond purchases had gone belly up as a result of a weakening USD, my Gold would have gone to the moon.
Did you learn that one at one of your gold seminars, or did you get fed this line while forking over money to your local gold dealer?
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Jimbo
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Trollie
19 Mar 2015, 09:36 PM
Did you learn that one at one of your gold seminars, or did you get fed this line while forking over money to your local gold dealer?
I have never been to a Gold seminar or any other seminar.

I have 10% of my nett worth in Gold. At the moment, most of the remainder is resting in the bank while I try and work out how to minimize my tax liabilities on my gains.

Yet according to you, I am a loser.

You must be winning big then.

Tell me about it.

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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Kuyuss
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The Whole Truth
19 Mar 2015, 08:23 PM
Which only goes to show that the average Australian is a hopeless investor.
The Herd generally always lose on investments, that's how the rich get rich, by milking the herd.
Well let's put this into perspective. The indexes show nothing about how many mouths are fed from property, so the impact of a rising house price index has wider implications for household incomes and consumer spending. Compare that to the bubblicious gold index. What does that offer to society? Does it increase spend at Bunnings or contribute to income growth from the growing wealth of middle Australia? No it doesn't. So while a fall in the house price index has a grey area in the impact on the economy, at least a dive in the gold price only causes shits and giggles. So gold's impact on society is relatively benign while house prices can dictate the whole quality of your destiny.
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Jimbo
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Kuyuss
19 Mar 2015, 10:11 PM
Well let's put this into perspective. The indexes show nothing about how many mouths are fed from property, so the impact of a rising house price index has wider implications for household incomes and consumer spending. Compare that to the bubblicious gold index. What does that offer to society? Does it increase spend at Bunnings or contribute to income growth from the growing wealth of middle Australia? No it doesn't. So while a fall in the house price index has a grey area in the impact on the economy, at least a dive in the gold price only causes shits and giggles. So gold's impact on society is relatively benign while house prices can dictate the whole quality of your destiny.
Mouths are fed by converting sunlight (energy) into food. Spare energy can be saved into batteries or compressed gas bottles.

Spare energy can also be saved into abstract forms such as paper currency, stocks or bonds.

I prefer to store some of my energy into the miniscule and hard to find amount of material produced by the very rare collision of two supernovae.



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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Jimbo
19 Mar 2015, 10:53 PM
I prefer to store some of my energy into the miniscule and hard to find amount of material produced by the very rare collision of two supernovae.



U235?
Any expressed market opinion is my own and is not to be taken as financial advice
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Count du Monet
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Kuyuss
19 Mar 2015, 10:11 PM
Well let's put this into perspective. The indexes show nothing about how many mouths are fed from property, so the impact of a rising house price index has wider implications for household incomes and consumer spending. Compare that to the bubblicious gold index. What does that offer to society? Does it increase spend at Bunnings or contribute to income growth from the growing wealth of middle Australia? No it doesn't. So while a fall in the house price index has a grey area in the impact on the economy, at least a dive in the gold price only causes shits and giggles. So gold's impact on society is relatively benign while house prices can dictate the whole quality of your destiny.
That's one of the arguments as to why gold is good as money. If food was used as money and hoarded then that had consequence. But gold is hoarded it merely means less bling on the streets.
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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Jimbo
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Kuyuss
19 Mar 2015, 10:11 PM
Does it increase spend at Bunnings or contribute to income growth from the growing wealth of middle Australia?
When I sold my last batch, I made enough to pay for a large amount of landscaping work in my back yard. I spent a lot of that n Bunnings.

I also know quite a few people who work in Gold mining in WA and they spent money in Bunnings as well.

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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Count du Monet
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Jimbo
19 Mar 2015, 10:53 PM


I prefer to store some of my energy into the miniscule and hard to find amount of material produced by the very rare collision of two supernovae.



Well no, gold is formed with a single supernova explosion. But with the other precious metals only at the very early initial phases of the explosion. So gold will be rare in every part of this Universe.
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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Jimbo
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peter fraser
19 Mar 2015, 10:56 PM
U235?
Not sure if I would want that on a neck chain. :oo:
Count du Monet
19 Mar 2015, 11:01 PM
Well no, gold is formed with a single supernova explosion. But with the other precious metals only at the very early initial phases of the explosion. So gold will be rare in every part of this Universe.
My understanding of physics is that there is insufficient pressure to create gold within a supernova.

The main thing is though, it doesn't grow on trees and it can't be printed.
Edited by Jimbo, 19 Mar 2015, 11:05 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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