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(Marketwatch)   Gold futures shrivel up, as does Glenn Beck's junk   (marketwatch.com) divider line 80
    More: Fail, futures contracts, U.S. stocks, short position, contrarians, U.S. dollar, Chicago Mercantile Exchange, deflation, relative volatility  
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4326 clicks; posted to Business » on 28 Nov 2012 at 6:52 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-28 04:28:41 PM
Gold for December delivery dropped $25.80, or 1.5%, to settle at $1,716.50 an ounce on the Comex division of the New York Mercantile Exchange.

I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.

I'll trust my small collection of bottle caps in case those times ever arise. Now to gather snowglobes and bobbleheads with magical properties.
 
2012-11-28 04:35:48 PM
Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!
 
2012-11-28 04:36:25 PM

Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.


If the sh*t were to hit the fan tomorrow, gold would be worthless anyway. The guy with the food, ammo, clothing, medicine, etc. is going to own your ass as slave labor for a few decades before an economy based on money evolves again.
 
2012-11-28 04:37:27 PM

Rev. Skarekroe: Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.

If the sh*t were to hit the fan tomorrow, gold would be worthless anyway. The guy with the food, ammo, clothing, medicine, etc. is going to own your ass as slave labor for a few decades before an economy based on money evolves again.


The guy who is charismatic and able to unite people will be the one that rules- not some hermit who has to hide to protect his survival cache.
 
2012-11-28 04:37:46 PM

Raharu: Screw Gold. I'll be the post apocalyptic honey baron!


I'll be the apocalyptic honey badger, 'cause I don't give a sh*t.
 
2012-11-28 04:39:39 PM

Raharu: Screw Gold. I'll be the post apocalyptic honey baron!


In Capital Wasteland, first you get the honey, then you get the power, then you get the women.
 
2012-11-28 04:39:49 PM

Rev. Skarekroe: Raharu: Screw Gold. I'll be the post apocalyptic honey baron!

I'll be the apocalyptic honey badger, 'cause I don't give a sh*t.


I'll trade you some delicious bee larva if you help guard my hives.
 
2012-11-28 04:41:41 PM
Time for the big banks to pull out of gold leaving all the idiotic retirees holding 75% of what they put in or less. Wonder where the ultra rich are going to put their money now? Oil is still kind of saturated.. It's too early to over-inflate the housing market again. Not enough companies left in America to Bain-Rape. It's still too premature to for Genomics.. Not enough BioTech types to create a bunch of fake companies packed with vaporware. Hmmmmm. I'm stumped on this one.

farkit I'll go buy more corn.
 
2012-11-28 04:44:29 PM

xynix: Time for the big banks to pull out of gold leaving all the idiotic retirees holding 75% of what they put in or less. Wonder where the ultra rich are going to put their money now? Oil is still kind of saturated.. It's too early to over-inflate the housing market again. Not enough companies left in America to Bain-Rape. It's still too premature to for Genomics.. Not enough BioTech types to create a bunch of fake companies packed with vaporware. Hmmmmm. I'm stumped on this one.

farkit I'll go buy more corn.


There's a great future in plastics.
 
2012-11-28 04:46:28 PM

Raharu: Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!


until someone gasses all your bees.
 
2012-11-28 04:46:34 PM
What junk?
 
2012-11-28 04:47:44 PM

ManateeGag: Raharu: Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!

until someone gasses all your bees.


I'm diversified into wasps.
 
2012-11-28 04:48:31 PM
I may go short on gold the next time a Republican is favored to win the Presidency. For at least the next 3.5 years, the Bunker Brigade Who Are Totally Not Paranoid Republicans are going to keep the bubble inflated.
 
2012-11-28 05:12:50 PM
Gold is the same price it was last week.
 
2012-11-28 05:17:29 PM

impaler: Gold is the same price it was last week.


And Beck's the same douche he was last week.
 
2012-11-28 05:19:18 PM

Lionel Mandrake: impaler: Gold is the same price it was last week.

And Beck's the same douche he was last week.


I think he is a littler doucheyer then last week.

Hes dunking an effigy of the president in a bottle of urine on his TV show now, and giving it a price tag of $25,000
 
2012-11-28 05:25:19 PM
Gold is old
Platinum is wheritsatinum
 
2012-11-28 05:26:03 PM

Lionel Mandrake: impaler: Gold is the same price it was last week.

And Beck's the same douche he was last week.


Still has shriveled junk, too
 
2012-11-28 05:26:41 PM
The only doomsday prepping I would ever do is printing out Google Maps on the best supplied doomsday preppers' land nearby and maybe try to get a head count on who is living there. Everything else seems superfluous
 
2012-11-28 05:27:20 PM

Raharu: Lionel Mandrake: impaler: Gold is the same price it was last week.

And Beck's the same douche he was last week.

I think he is a littler doucheyer then last week.

Hes dunking an effigy of the president in a bottle of urine on his TV show now, and giving it a price tag of $25,000


i159.photobucket.com
 
2012-11-28 05:48:05 PM
No one is going to give a sh*t about your smudgy yellow metal when we're hungry.

Morons.
 
2012-11-28 05:50:43 PM

Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'.


holy fark, that's moronic.
 
2012-11-28 06:11:26 PM

impaler: Gold is the same price it was last week.



Actually according to this:
 
http://futures.tradingcharts.com/chart/GD/M?anticache=1354144168
 
Its been going up quite a bit over the month.  *I* think its foolish to invest in, but just sayin'
 
2012-11-28 06:56:46 PM

Rev. Skarekroe: Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.

If the sh*t were to hit the fan tomorrow, gold would be worthless anyway. The guy with the food, ammo, clothing, medicine, etc. is going to own your ass as slave labor for a few decades before an economy based on money evolves again.


Basically, if civilization every does crumble, go look for a Co-op to take over.
 
2012-11-28 07:10:12 PM
Thanks a pant load subby. I just yakked up my dinner with that image. Dammit, I may not eat again for days.
 
2012-11-28 07:17:08 PM

Raharu: Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!


If we can find someone with some barley, I've got hops. We will rule the new economy with our beer empire.
 
2012-11-28 07:18:04 PM
It's almost like FUD is a terrible investment strategy.
 
2012-11-28 07:29:50 PM

kronicfeld: Raharu: Screw Gold. I'll be the post apocalyptic honey baron!

In Capital Wasteland, first you get the honey, then you get the power, then you get the women.


This whole country is like one big bee hive... waiting to be plucked.
 
2012-11-28 07:33:12 PM

Nadie_AZ: The guy who is charismatic and able to unite people will be the one that rules- not some hermit who has to hide to protect his survival cache.


Approves.

images1.cliqueclack.com
 
2012-11-28 07:35:41 PM

MacEnvy: If we can find someone with some barley, I've got hops. We will rule the new economy with our beer empire.


All this has happened before, and all this will happen again.

4.bp.blogspot.com
 
2012-11-28 07:40:09 PM
Gold will be great after the apocalypse as long as sufficient assayers are also survivalists, which I think doubtful.
 
2012-11-28 07:50:56 PM

Raharu: Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!


You can also make mead with it.

www.realbeer.com
 
2012-11-28 07:52:03 PM
I'm going into hard cider. Like our forefathers
/and our forefathers forefathers
/and our forefathers forefathers forefathers
 
2012-11-28 07:59:00 PM
My mother called me and asked if she could sell the mint coin sets she bought me from birth to age 18 or so as Christmas gifts.
 
They have pretty much "appreciated" to face value.
 
My father, who is doing okay now had a string of horrible investments.   He was a visionary with VERY thick glasses.
 
2012-11-28 08:20:04 PM

MacEnvy: If we can find someone with some barley, I've got hops. We will rule the new economy with our beer empire.


Imagine the power of the post-apocalyptic Fark Beer Collective.

Resistance is futile, you will be intoxicated.
 
2012-11-28 08:21:43 PM
As much as I hate Glenn Beck and people who misuse gold investments, this drop should not be of any particular concern to "goldbugs".
 
2012-11-28 08:35:24 PM

xynix: Time for the big banks to pull out of gold leaving all the idiotic retirees holding 75% of what they put in or less. Wonder where the ultra rich are going to put their money now? Oil is still kind of saturated.. It's too early to over-inflate the housing market again. Not enough companies left in America to Bain-Rape. It's still too premature to for Genomics.. Not enough BioTech types to create a bunch of fake companies packed with vaporware. Hmmmmm. I'm stumped on this one.

farkit I'll go buy more corn.


They've been buying into the millenia-old standby heavily for the last 4-5 years. Farmland to effectively sharecrop out. The $10k acre isn't the peak of that bubble.
 
2012-11-28 08:39:33 PM

MrEricSir: It's almost like FUD is a terrible investment strategy.


Oh it is. I almost always eat them before their value goes up.
4.bp.blogspot.com
 
2012-11-28 08:55:13 PM

Raharu: Honestly, I plan to use Honey after the economic collapse of America.


1. Honey is highly nutritious.

2. It can be used as a topical antiseptic, bacteria cant grow in it, its too sweet.

3. Its can be considered a luxury good, when traditional sources of sugar dry up, or become
super expensive honey becomes the sweetener of choice.

4. Honey Lasts almost forever. It may crystallize, but can be fully restored to a liquid state by slowly heating it. Ediable honey has been found in Egyptian tombs and restored to its liquid state..

Screw Gold. I'll be the post apocalyptic honey baron!


I'm trading all my US Dollars and putting it all into toilet paper and can openers.
 
2012-11-28 09:00:58 PM

Raharu: Lionel Mandrake: impaler: Gold is the same price it was last week.

And Beck's the same douche he was last week.

I think he is a littler doucheyer then last week.

Hes dunking an effigy of the president in a bottle of urine on his TV show now, and giving it a price tag of $25,000


The Beavis in me got a chickle out of that.
 
2012-11-28 09:15:12 PM

xynix: Not enough companies left in America to Bain-Rape.


Simple, we Bain-Rape companies in other countries. Might have to buy a few other governments.
 
2012-11-28 09:28:27 PM
I was listening to AM radio and was amazed that the way-too-many ads were mostly for thieves like the legal loan sharks allegedly free of the law on an Indian reservation.

"In these uncertain times, you MUST call Gold Bars Inc to roll over your IRA into a Gold IRA..."

You know, we can't sell the rubes sub-prime mortgages any more but regular people have one, two, maybe TEN thousand dollars in their IRAs and we MUST have it!

"Gold BARS? Sir, we have put you in gold coins, which are negotiable legal tender!"
 
2012-11-28 09:32:41 PM

Raharu:

Screw Gold. I'll be the post apocalyptic honey baron!


Meh. People will be able to harvest their own honey.

Tampons and toilet paper are what you want to stockpile.
 
2012-11-28 09:34:09 PM
Gold is not an investment. It's a lifestyle
 
2012-11-28 09:37:00 PM

impaler: Gold is the same price it was last week.


yup. no news here...shiat goes up, shiat goes down.
 
2012-11-28 09:41:08 PM

Raharu: Hes dunking an effigy of the president in a bottle of urine on his TV show now, and giving it a price tag of $25,000


Provocative AND timely!
 
2012-11-28 09:44:55 PM

some_beer_drinker: shiat goes up, shiat goes down.


Can't explain that!
 
2012-11-28 09:54:14 PM

Triumph: Gold is old
Platinum is wheritsatinum


I'm totally stealing that.
 
2012-11-28 10:14:16 PM
Well, if you were born in 1945, they would have appreciated a great deal.
www.coinflation.com

I suspect you were born in the 70's or 80's though, in which case, tough luck and hope whoever buys 'em have fun with those Cupro-nickel sandwich "coins"

brap: My mother called me and asked if she could sell the mint coin sets she bought me from birth to age 18 or so as Christmas gifts.
 
They have pretty much "appreciated" to face value.
 
My father, who is doing okay now had a string of horrible investments.   He was a visionary with VERY thick glasses.

 
2012-11-28 10:41:40 PM
Oh, and lets start talking about Glenn Beck having a ballgina.

Yes, I've been watching Brickleberry.
 
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