Seems like gold or sitting on the sidelines is the safest thing to do until Europe gets their act together.

Er, let me restate: precious metals or sitting on the sidelines.

GaryPDX: Brontes: Seems like gold or sitting on the sidelines is the safest thing to do until asEurope gets their act together implodes.

ftfy

fixed once more

In before the "stock up on ammo cuz, uh, you can't eat gold" snark.

Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim that because gold isn't used for anything really except for minor industrial uses, that it has no "intrinsic value" and the price will eventually drop to just above the cost to mine it. (which ignores thousands of years of history where gold was thought of as a store of value) There are those who think massive deflation is around the corner or the dollar will increasingly become the "safe haven", causing gold prices to drop. (the only bearish factors that possibly hold any weight, IMO)

Right now, I am a fan of gold. I sold my bullion several months ago and I am currently invested in gold stocks - junior miners and explorers. It's a risky play, but I'm confident in my choice. Probably more confident in any other investment choice I've made in a long time. Gold prices are the inverse of people's faith in our money system. Also, real interest rates are negative, and will probably continue to be so for a while. And the central banks of China, India, Russia and S. Korea are still buying it up. There is economic unrest just about everywhere you turn. These factors bode well for increasing gold prices.

Whether you're a bull or a bear, this is not the time to wait. There will be volatility, and there is going to be a lot of money made (or lost) in trades over the next year or two. If you're bearish, short gold. Or better yet, double short it by buying DZZ. If you're bullish, bullion is nice, but it's considered to be a collectible, so capital gains tax is a whopper. Nice if you have connections to buy and sell with no paper trails, but you need to know the right people. I like junior miners, and I think they're underpriced right now, but it's a risky play.

It will be an exciting several months for gold.

Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim that because gold isn't used for anything really except for minor industrial uses, that it has no "intrinsic value" and the price will eventually drop to just above the cost to mine it. (which ignores thousands of years of history where gold was thought of as a store of value) There are those who think massive deflation is around the corner or the dollar will increasingly become the "safe haven", causing gold prices to drop. (the only bearish factors that possibly hold any weight, IMO)

Right now, I am a fan of gold. I sold my bullion several months ago and I am currently invested in gold stocks - junior miners and explorers. It's a risky play, but I'm confident in my choice. Probably more confident in any other investment choice I've made in a long time. Gold prices are the inverse of people's faith in our money system. Also, real interest rates are negative, and will probably continue to be so for a while. And the central banks of China, India, Russia and S. Korea are still buying it up. There is economic unrest just about everywhere you turn. These factors bode well for increasing gold prices.

Whether you're a bull or a bear, this is not the time to wait. There will be volatility, and there is going to be a lot of money made (or lost) in trades over the next year or two. If you're bearish, short gold. Or better yet, double short it by buying DZZ. If you're bullish, bullion is nice, but it's considered to be a collectible, so capital gains tax is a whopper. Nice if you have connections to buy and sell with no paper trails, but you need to know the right people. I like junior miners, and I think they're underpriced right now, but it's a risky play.

It will be an exciting several months for gold.



This is an equally good case to play roulette.

You're playing a game to see who gets out first. Which is not sound investing.

/good luck dude

Humans are so strange.

Sarah Palin's Conscience: Humans are so strange.

Where are you investing your money?

Brontes: Sarah Palin's Conscience: Humans are so strange.

Where are you investing your money?

What money?

DarnoKonrad:
This is an equally good case to play roulette.

You're playing a game to see who gets out first. Which is not sound investing.

/good luck dude

You're right, I'm not investing - I'm speculating. I think that we're only at the beginning of a mania, and I hope to ride it for a while, and pull back my gains in little chunks. I don't know if the roulette comparison is apt, though. There are readable macro forces that are affecting the price of gold, while in roulette, it's only the invisible hand of luck. We'll see, though. I've been wrong before, I just hope this time I'm not.

Platinum has the advantage of being a vital industrial metal.

He only makes those sounds on two occasions: when gold prices climb, and when he has trapped a ten year old girl.

The moans are not from GB, they're from the girl he raped and murdered in the 1990's.

fatalvenom: The moans are not from GB, they're from the girl he raped and murdered in the 1990's.

Alleged

djkutch: Did the rich pay for shiat with gold during the Great Depression?

Gold dust for the maids? Fragments for the nannies?

Do you think that things get so bad that the internet breaks down and people lose the ability to cash out stocks or move their money (electronic or otherwise) around the system?

Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim ...

BigLuca: Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim ...

[images.paraorkut.com image 150x170]



Link (new window)

djkutch: Brontes: djkutch: Did the rich pay for shiat with gold during the Great Depression?

Gold dust for the maids? Fragments for the nannies?

Do you think that things get so bad that the internet breaks down and people lose the ability to cash out stocks or move their money (electronic or otherwise) around the system?

I did not know there was an internet and electronic transfer of monies during the Great Depression.

Still wondering how the maid was paid.

FDR made it illegal to hold gold. So, no.

Jesus, submitter, I just ate!

Meh, I've gotten a better return on my burrito investment. It's great to diversify, but if you're young it would be shortsighted to hold a conservative position.

DarnoKonrad: Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim that because gold isn't used for anything really except for minor industrial uses, that it has no "intrinsic value" and the price will eventually drop to just above the cost to mine it. (which ignores thousands of years of history where gold was thought of as a store of value) There are those who think massive deflation is around the corner or the dollar will increasingly become the "safe haven", causing gold prices to drop. (the only bearish factors that possibly hold any weight, IMO)

Right now, I am a fan of gold. I sold my bullion several months ago and I am currently invested in gold stocks - junior miners and explorers. It's a risky play, but I'm confident in my choice. Probably more confident in any other investment choice I've made in a long time. Gold prices are the inverse of people's faith in our money system. Also, real interest rates are negative, and will probably continue to be so for a while. And the central banks of China, India, Russia and S. Korea are still buying it up. There is economic unrest just about everywhere you turn. These factors bode well for increasing gold prices.

Whether you're a bull or a bear, this is not the time to wait. There will be volatility, and there is going to be a lot of money made (or lost) in trades over the next year or two. If you're bearish, short gold. Or better yet, double short it by buying DZZ. If you're bullish, bullion is nice, but it's considered to be a collectible, so capital gains tax is a whopper. Nice if you have connections to buy and sell with no paper trails, but you need to know the right people. I like junior miners, and I think they're underpriced right now, but it's a risky play.

It will be an exciting several months for gold.



This is an equally good case to play roulette.

You're playing a game to see who gets out first. Which is not sound investing.

/good luck dude

There IS no sound investment now. Everything is distorted and rigged to favor the already wealthy. They will feast on your 401k and demand more.

AcneVulgaris:

There IS no sound investment now. Everything is distorted and rigged to favor the already wealthy. They will feast on your 401k and demand more.

You could always start a small pimping business. In every economy, hookers need someone who can collect.

*sigh*

I'm going to die laughing my farking ass off when that bubble pops and everyone who kept buying gold suddenly finds out it's worth about as much as their tears...

/oh, what a fun day that'll be...

Atomic Spunk: BigLuca: Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim ...

[images.paraorkut.com image 150x170]

[img.bfpublishing.com image 282x309]

Link (new window)

Sigh ... From "Gold Yearbook and Sprott Asset Management." Okay, lets give this a shot. Sprott Asset Management is founded and owned by one Eric Sprott. Occupation: Asset management. Net worth 1.3 billion dollars, made primarily through investments in precious metal companies. As of March 31, his company held more gold than Brazil held in its reserves. Link (new window)

The other name in that chart is "The Gold Yearbook", published by CPM Group, which is "the worlds largest outsourced sales organization." Owned by the global marketing communications group Omicron. CPM Group specializes in field marketing and telemarketing. The listed sponsors for the report "The Gold Yearbook 2010" include: "Goldcorp Inc", "Timmins Gold Corp", "Sabin Metal Corporation," and "ISRI: Institute of Scrap Recycling Industries."

Yeah...

Iczer: *sigh*

I'm going to die laughing my farking ass off when that bubble pops and everyone who kept buying gold suddenly finds out it's worth about as much as their tears...

/oh, what a fun day that'll be...

I don't doubt will go down, but the big question is, will it go down before Europe goes down? It is doubtful, and when Europe goes down, precious metals will keep going up. Beck is a massive tool and most likely misleading people into getting the wrong kinds of gold, but owning it is a hedge against fiat currencies taking a dump which many think is about to happen.

I'm waiting for The Onion to parody the "I'm a black guy and I'm a Mormon" ads that are running on TV. With the closing line:

"I'm Glenn Beck: you're a piece of carp and irrelevant. And I'm a Mormon."

BigLuca: Atomic Spunk: BigLuca: Atomic Spunk: Before the bubble claimers arrive, I'll say what I've said in nearly every gold thread here:

There are the idiots who think that every gold buyer sucks on Glenn Beck's nuts. (*sigh*) Some think that gold is a bubble like the late 90s NASDAQ or 2006 U.S. housing. (possible, but very few people actually hold gold as investments) Others claim ...

[images.paraorkut.com image 150x170]

[img.bfpublishing.com image 282x309]

Link (new window)

Sigh ... From "Gold Yearbook and Sprott Asset Management." Okay, lets give this a shot. Sprott Asset Management is founded and owned by one Eric Sprott. Occupation: Asset management. Net worth 1.3 billion dollars, made primarily through investments in precious metal companies. As of March 31, his company held more gold than Brazil held in its reserves. Link (new window)

The other name in that chart is "The Gold Yearbook", published by CPM Group, which is "the worlds largest outsourced sales organization." Owned by the global marketing communications group Omicron. CPM Group specializes in field marketing and telemarketing. The listed sponsors for the report "The Gold Yearbook 2010" include: "Goldcorp Inc", "Timmins Gold Corp", "Sabin Metal Corporation," and "ISRI: Institute of Scrap Recycling Industries."

Yeah...

It's biased, I'll concede. But even if it's off by a factor of 5, that's still less than 4%, still not widely owned. If you have more accurate numbers, I'll be glad to see them. I am constantly researching gold so I appreciate any information I can get. Only reading research that backs up preexisting biases is the death of any investor.

boring wake me up when the bubble pops so these anti gold folks can claim they are right.

Brontes: when Europe goes down, precious metals will keep going up

lol. also, housing prices always go up. the price of gold didn't fluctuate that wildly previously to, during or after World War II, but this whole European crisis is a nice marketing tool by gold pushers to scare people into buying gold. The only thing gold is an investment in is that there is an even bigger dumbass than you to buy it from you. Not that many people have gone broke betting on the amount of dumbasses out there... but some people just don't have long memories

Bunnyhat: Put me in the in the camp that finds gold investment perplexing.

There is an estimated 5.3 billion ounces of gold on earth that has been mined so far. At $1,400 an ounce that's about 7.5 quintillion bucks. That's more then our entire world economy combined and then multiplied 1000 times.

How in the world does that even make sense?

Are you really trying to convince people that gold is worth more then the entire world economy by such a wide margin?

Whoa, you gotta check your math. Trillion, not quadrillion. And even at that, you can't value it like you'd do a market cap calculation. Stocks are pure investments. However, a significant amount of gold is held for sentimental reasons (usually jewelry and coins), as well as security (central bank holdings), so unlike pure investments, there is greater resistance to sell with gold. As such, the amount of gold that is being actively traded is only a fraction of the entire amount that has ever been mined.

Bunnyhat: There is an estimated 5.3 billion ounces of gold on earth that has been mined so far

I wonder how much of that is resting on the bottom of the ocean -- along with the bones of the men guarding it.

Silly humans.

James F. Campbell: Bunnyhat: There is an estimated 5.3 billion ounces of gold on earth that has been mined so far

I wonder how much of that is resting on the bottom of the ocean -- along with the bones of the men guarding it.

Silly humans.

In 1,000,000 years The Xenu Collective from Alpha Centari will strike it rich at "Bex Ridge" on the 3rd planet of Sol.

Gold? Fark that! They are more interested in the largest concentration of bullshiat in the known Universe!

Iczer: *sigh*

I'm going to die laughing my farking ass off when that bubble pops and everyone who kept buying gold suddenly finds out it's worth about as much as their tears...

/oh, what a fun day that'll be...

This IS a repeat from every Fark gold thread in the last 10 years.

Ah yes. The thread where the ITG equivalent of Money Investors comes out. Since this is Fark, I'll stick to browsing for the funny pics and ignore any "advice" I read.


/mmmm cheddar popcorn

Brontes:
I don't doubt will go down, but the big question is, will it go down before Europe goes down?

Historically gold will go down when interest rates climb back up. And because it could happen at an 8 to 1 ratio, it's going to be a quick fall.

Where are all the sure footed gold is a bubble people. I was looking foward to them to take gold buyers to school.