Back up the truck, the time to buy Gold is NOW (banks are selling but we're buying!); Guaranteed - Gold is the ULTIMATE long term investment (we can't give you the same guarantee for stocks)
Tweet Topic Started: 11 Oct 2013, 04:29 PM (3,441 Views)
In a way I feel sorry for him. For a while he was the darling of the bears, and then suddenly they started to analyse what he was saying.
Then it fell apart.
that's brilliant Peter - thanks for giving me a friday night chuckle.
I remember the blog quite well and often found it to be great value. The stubbornness of some people can be otherworldly at times.
goldbug
11 Oct 2013, 10:01 PM
Do you ever wonder why the mainstreem media perspective on gold that you parrot so well is diametrically apposed to the behavior of the world's central banks, that have been filling their vaults with the shiny stuff for the last 6 years? Who do you think knows more about money and wealth, pimply faced reporters recycling 35 year old mantras on gold investment, or the world's leading experts on monetary affairs? If you think about it really hard mel you will see how silly your belief is.
The truth is the wealthy people of this world don't want you or the millions like you to be crowding their ski slopes and Aegean islands. They don't want to see you grow wealthy in the future. So they use the media to herd you into investments that will channel your income to them. It's why every generation retires in poverty, be it the old age pension set, the superannuation set, or now the investment property generation.
Think outside the box (the tv box)
you continue to make some valid points but you refuse to answer my question because you agree with it's logical conclusion.
Everyone knows a lot of people have lost money over the last couple of years and im betting you may have suffered some unrealized paper losses yourself (as have I).
Even the hardest of the hardcore metal guys now acknowledge gold to be simply 'savings' for the long term and not 'investing'.
im not going to ask the question again because it's clear you don't want to answer it and i have no idea why that might be - but i do understand we all need something to believe in.
You don't understand gold mel so pretending you do. Gold was under $800 australian prior to the GFC and now is $1350. The fact that it ran up to $1850 means that it overshot, nothing more. When the next phase of the great global debt unwind falls upon us gold will no doubt move higher again but for us that bought near the gfc it really doesn't matter if it does.
when gold dropped o $1500 you told us it was a good buy, the same at $1400, and now you claim it's a good buy at $1200.
the only person who doesn't understand how the gold market works is you.
I am the love child of Tony Abbott and Pauline Hanson
You don't understand gold mel so pretending you do. Gold was under $800 australian prior to the GFC and now is $1350. The fact that it ran up to $1850 means that it overshot, nothing more. When the next phase of the great global debt unwind falls upon us gold will no doubt move higher again but for us that bought near the gfc it really doesn't matter if it does.
when gold dropped o $1500 you told us it was a good buy, the same at $1400, and now you claim it's a good buy at $1200.
the only person who doesn't understand how the gold market works is you.
I guess more job losses for wa then timmy, cheaper rents, cheaper housing. some win, some lose.
There is too much above ground to warrant any talk about industrial use and you still haven't answered my question, which is:
"in a hypothetical doom scenario, why would all the available fiat dollars chase gold over food, water and shelter or energy?" (this is the 4th time im asking the question)
Are you a doomer? A bunker and beans person or something. A little at odds with your investment strategy but I will answer your question.
Not all the available dollars would chase gold, very few of the working class actually have many dollars, what they have is debt, and yes they will want food in your senario. But there are other people who have quite a lot of money and they at some point will want gold and prefer it to their fiat money because they can plainly see that paper money is losing value around the world, rapidly. This has always been the case in history. It is why nations always go back to gold at some point.
But how can I answer your question properly without parameters? You could be talking about an argentinian style default (where gold was very useful) or you could be talking mad max. Personally I don't see Australia turning that bad. If you lived in Greece today and you had bought gold around the GFC you would be very happy with your decision. the same as if you lived in Iceland or any number of nations that have seen their currency devalued or their bank accounts used as bail-ins, their private pensions stolen.
Now that I have answered your question as best I could, kindly answer mine. Why have the world's central banks, especially those outside of the USD family (Aus, Eng, Can, etc) Been loading up on gold. Why did Germany, the wealthiest eurozone nation, demand theirs back from the NY vaults? Why, if gold is worthless are they divesting $US for gold?
I'm not into gold other than what is used in my electronics, but clearly they are discussing the certificate gold on the futures exchange, not physical gold that you can hold.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
No pigiron, you use the $US figure because it is lower, if it was higher you would use the $au. You know very well that I buy and will sell gold in $au so when you are snapping at my heels trying to prove a point your $US figure is inaccurate.
BTW, the current US dollar price of gold is $1270, not $1200.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
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