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A Thread About Gold; Why Not Have Another Thread About Gold
Topic Started: 16 Aug 2015, 05:38 PM (5,964 Views)
Jimbo
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Indeed, why not?
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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Foxy
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Zero is coming...

Jimbo
16 Aug 2015, 05:38 PM
Indeed, why not?
This relative to that.

You could argue that if you bought gold at $1,200 per ounce and sold it at $12,000 per ounce it is a sure bet.

Then buy lots pf gold.

And then sell lots of gold.

Simple really.

Peter


http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Poontang
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foxbat
16 Aug 2015, 05:41 PM
This relative to that.

You could argue that if you bought gold at $1,200 per ounce and sold it at $12,000 per ounce it is a sure bet.

Then buy lots pf gold.

And then sell lots of gold.

Simple really.

Peter

Or buy lots of shares in gold mining companies for a leveraged position on the price of gold.

Some of those companies even pay dividends.
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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createdby
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Gold is a lot of things. It's an insurance against potential implosion of a fiat or a hedge against inflation.

Comparing gold to houses is like comparing life insurance against houses. It's stupid.

Houses are important. But they don't take precedence over gold and vice versa.

Any wealthy human being should spread their wealth on cash, home, stocks, and gold. It's all about spreading risk.

Putting all your money into one basket, be it cash only or gold only or home only or the stock market only is stupid. Just go to the casino if that's your investment strategy.

Spread the risk and buy low sell high.

Normal automatons are mortgaged to the hilt and treat their home like an ATM. They like going to forums like this to make themselves feel good about that big ass mortgage they're stressfully paying off.

But they're not supreme example of an investor.

There's nothing I pity more than people who put all their money into superannuation or get a big ass mortgage and live on beans. I also worry about goldbugs who think gold is their ticket to riches.

Spread the risk assholes and buy low sell high.

Edited by createdby, 16 Aug 2015, 06:30 PM.
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Jimbo
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createdby
16 Aug 2015, 06:29 PM
Spread the risk assholes and buy low sell high.

I have 10% of my net worth in Gold.

But according to people who have their entire future leveraged into property, I am a nutter?

Wibble wobble woo.
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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b_b
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createdby
16 Aug 2015, 06:29 PM
Gold is a lot of things. It's an insurance against potential implosion of a fiat or a hedge against inflation.

Comparing gold to houses is like comparing life insurance against houses. It's stupid.

Houses are important. But they don't take precedence over gold and vice versa.

Any wealthy human being should spread their wealth on cash, home, stocks, and gold. It's all about spreading risk.

Putting all your money into one basket, be it cash only or gold only or home only or the stock market only is stupid. Just go to the casino if that's your investment strategy.

Spread the risk and buy low sell high.

Normal automatons are mortgaged to the hilt and treat their home like an ATM. They like going to forums like this to make themselves feel good about that big ass mortgage they're stressfully paying off.

But they're not supreme example of an investor.

There's nothing I pity more than people who put all their money into superannuation or get a big ass mortgage and live on beans. I also worry about goldbugs who think gold is their ticket to riches.

Spread the risk assholes and buy low sell high.

Gold is neither a hedge or insurance. There is no counterparty - which is suppose to be its appeal.

At best it provides diversification. And like stocks or bonds can go bad even when you hope it does well.
Edited by b_b, 16 Aug 2015, 06:49 PM.
(S – I) + (T - G) + (M - X) = 0
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Ex BP Golly
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Shiny!
Jimbo
16 Aug 2015, 05:38 PM
Indeed, why not?
With all the bull fascination, maybe this forum should change its name to the Australian Gold Forum?
Edited by Ex BP Golly, 16 Aug 2015, 06:49 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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John Frum
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Jimbo
16 Aug 2015, 05:38 PM
Indeed, why not?
Ha! I was just thinking earlier of starting a thread suggesting that the subject of gold get banned entirely from APF.

It's pretty tiring the way many of the property bulls here continually come back to the topic, especially Shadow and Strindberg. They like to foster the idea that anyone who's bearish on property is a certified tinfoil hat nutter that hordes precious metals under their bed. It's also a line pushed by second-rate economist Stephen 'Kouk' Koukoulas.

The whole point of this attack is, of course, to divert the conversation away from ideas like those put forward by RBA member Phillp Lowe recently that rising property prices might not be the magic wealth creation tool the bulls imply it is.
Edited by John Frum, 16 Aug 2015, 07:02 PM.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Strindberg
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Poontang
16 Aug 2015, 05:45 PM
Or buy lots of shares in gold mining companies for a leveraged position on the price of gold.

Some of those companies even pay dividends.
......like you did with the >20 million shares you bought in AYN just before they went bust.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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Bardon
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John Frum
16 Aug 2015, 07:02 PM
The whole point of this attack is, of course, to divert the conversation away from ideas like those put forward by RBA member Phillp Lowe recently that rising property prices might not be the magic wealth creation tool the bulls imply it is.
What most bankers know but wont tell you is that those that own the economic rent will continue to enjoy ever increasing wealth for zero effort because as the economy grows so does the economic rent. Those that don't own will have to pay much more for rent or a higher price to join the party and start a mortgage as prices will always rise.

How else can you explain why it used to be possible for a family on a single income to own a house in inner Sydney and only be mortgaged for a relatively short period of time. Now even a two income professional couple both working full time would find it very hard to start off in inner Sydney.

Farriers used to own property in the City of London.
Edited by Bardon, 16 Aug 2015, 07:57 PM.
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