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The Gold Bubble... Just how badly have the silly goldbugs failed?
Topic Started: 21 Jun 2014, 11:46 AM (27,217 Views)
Jimbo
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TheTruth
11 Dec 2014, 11:56 PM
No Homer, you and other goldbugs have REPEATEDLY stated "gold is money".

Don't back peddle now, that's not the goldbug way.
Mike, you sad little shit.

Money is not the stuff you carry around in your wallet or the numbers on your online banking screen. Those things are currency. They are meaningless unless they are backed by something and they are currently backed by government fiat. They have no fixed value against anything tangible.

They used to be backed by solid things like Gold and Silver and in primitive times, the metals were currency and money at the same time.

When currency was fully or partially backed by Gold, people didn't walk around carrying Gold money, they carried paper currency.

So Gold is money, Dollars are currency. There is currently a fully floating exchange rate between the two and whether the Dollars are in paper or electronic form, the monetary reasons for holding Gold are just as valid.



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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Shadow
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Evil Mouzealot Specufestor

AUD gold price in February 2009... $1530

AUD gold price today... $1507

Six years and it's gone backwards even in nominal terms, and worse in real terms...

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Edited by Shadow, 18 Mar 2015, 10:46 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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stinkbug
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And no yield for all of that time.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Frank Castle
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Business As Usual

stinkbug
18 Mar 2015, 11:23 AM
And no yield for all of that time.
FAIL
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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Dr Kinetoscope
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Shadow
18 Mar 2015, 10:46 AM
AUD gold price in February 2009... $1530

AUD gold price today... $1507

Six years and it's gone backwards even in nominal terms, and worse in real terms...

AUD gold price in 2003 - $550
AUD gold price today - $1507

That's a 174% increase for one ounce of gold.

12 years on and it's gone forwards dramatically in nominal terms and real terms - A very, very good addition to an investment portfolio over the long term.

Architecture Porn
ShadBerg's torrid Macrobusiness love affair
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Shadow
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Evil Mouzealot Specufestor

Dr Kinetoscope
18 Mar 2015, 12:19 PM
AUD gold price in 2003 - $550
AUD gold price today - $1507

That's a 174% increase for one ounce of gold.

12 years on and it's gone forwards dramatically in nominal terms and real terms - A very, very good addition to an investment portfolio over the long term.
Sure, gold did OK until the bubble burst a few years ago. Now it's just a liability... going nowhere and providing no yield. It's below its 2009 price today.
Edited by Shadow, 18 Mar 2015, 12:28 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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The Whole Truth
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Shadow
18 Mar 2015, 10:46 AM
AUD gold price in February 2009... $1530

AUD gold price today... $1507

Six years and it's gone backwards even in nominal terms, and worse in real terms...
How many of the property invsestors here will admit to buying near the top? Likewise I doubt many goldbugs bought much in the $1500 price range either. Goldbugs tend to be more conservative too. You do that when it's your own money you are playing with. Most no doubt filled their pockets when gold was between $550 and $1000 and are way up on their investments.

Having said that we need to look at the big picture because it's what's happening in the future that counts. Australian property is way over priced, all the respectable experts agree, and interest rates could go up again at any time and crucify most investors. On the other hand Gold is very much under-owned and the whole world is clammoring for it, as we see from the huge ongoing purchases by the BRIC reserve banks. Gold is much better positioned to take advantage of then ongoing economic turmoil than an over-leveraged over-bought asset like Australian suburban housing stock.

Nice try shadow, but another big FAIL for you I am afraid.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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Foxy
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Zero is coming...

You have to look at these things over a longer time frame.

Ask yourself one question, why do central governments have gold holdings.

Next question is, what percentage of the countries wealth is in gold??
Peter
Edited by Foxy, 19 Mar 2015, 11:29 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Shadow
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Evil Mouzealot Specufestor

The Whole Truth
18 Mar 2015, 12:42 PM
Likewise I doubt many goldbugs bought much in the $1500 price range either. Goldbugs tend to be more conservative too.
You did. You told us you purchased at well OVER $1500 when you posted as FrankRider and Goldbug. Hence the disappearance of those socks and the emergence of this new one.

Quote:
 
Gold is very much under-owned and the whole world is clammoring for it
Oh, that must be why it's below its 2009 price today.

Nice try FrankRider/Goldbug/NoTruth, but another big fail for you I'm afraid. Go on, tell us about the 'new gold bull run' again. How many has it been now? Seven?
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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b_b
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Mustapha Mond
18 Mar 2015, 12:47 PM
You have to look at these things over a longer time frame.

Ask yourself one quetion, why do central governments have gold holdings.

Next question is, what percentage of the countries wealth is in gold??
Peter
Central banks buy and sell gold to manage their currencies - which is why countries with semi-pegs tend to be most active. It has nothing to do with central banks accumulating or storing "wealth".

The storage of gold simply reflects the legacy rules of the dirty gold standard (BW). Which is the same reason they store other fiat.

What proportion of a countries wealth in Gold.? That's easy. 0%.
Edited by b_b, 18 Mar 2015, 02:35 PM.
(S – I) + (T - G) + (M - X) = 0
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