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(Marketwatch)   Is gold still a safe haven? Short answer: no. Long answer: HAHAHAHAHAH, no   (marketwatch.com) divider line 80
    More: Obvious, bald eagles, investor sentiment, gold prices, U.S. Mint, precious metals  
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4782 clicks; posted to Business » on 04 Dec 2012 at 9:33 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-04 05:41:03 PM
Anyone who doesn't want their gold anymore, I will come to your gold and haul it away for you and only charge you for gas.
 
2012-12-04 05:52:28 PM
FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?
 
2012-12-04 05:55:33 PM
Are you trying to build a house of gold?
 
2012-12-04 06:05:07 PM

Ambivalence: FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?


The media is the attention whore you knew growing up. ANYTHING for attention.
 
2012-12-04 06:30:59 PM

Nadie_AZ: Ambivalence: FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?

The media is the attention whore you knew growing up. ANYTHING for attention.


LOL! It amuses me to think of the media as the ugly chick wanting to flash her boobs to everyone she meets.

Put that away, no one wants to see that.
 
2012-12-04 08:31:15 PM

Ambivalence: FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?


One of those countdown clocks came up out of nowhere while I was watching football on Sunday. Stayed on the screen for like 15 seconds - I snapped a pic with my phone:

www.freeimagehosting.net
 
2012-12-04 08:48:40 PM
But Glenn Beck told me to buy gold, and he gets his info straight from Jesus.
 
2012-12-04 08:55:28 PM

jake_lex: But Glenn Beck told me to buy gold, and he gets his info straight from Jesus.


That's the Mormon Jesus. Unless you're Mormon, the advice won't do you any good.
 
2012-12-04 09:40:33 PM
Is Was gold still ever a safe haven? Short answer: no. Long answer: HAHAHAHAHAH, no

Edited for accuracy
 
2012-12-04 10:10:11 PM
FTA: "The risk of a higher capital-gains tax rate as a consequence of fiscal-cliff discussions is resulting in some long-term gold holders booking some of their profits in 2012," said Vedant Mimani, lead portfolio manager of the Atyant Capital Global Opportunities Fund.

"It makes a lot of sense to book long-term gains in 2012 - lock in tax liability at the current rate and then re-position in 2013 as desired rather than hold on to long-term gains and risk a higher tax rate," he said.


It makes sense for some investments, but it doesn't really make sense for gold held long term. Currently long term gold sellers are expected to pay the same rate this year as last - the special collectibles rate. It won't be affected by the Bush tax cuts expiring.

I don't know if "safe haven" is the appropriate term, but when real interest rates continue to be negative, and when our country continues to debase our currency, it's a good idea to keep a portion of your portfolio in precious metals as insurance. Yeah, gold's price movements may be volatile, but if you don't watch the price too often and you have the fortitude to continue your investment plan even when prices aren't moving as expected, then owning gold (the physical gold rather than paper ETFs) is a very good thing to do.
 
2012-12-04 10:48:55 PM
I've got a fun way to pimp gold. "Uncle Ben is going to go for another round of quantitative easing in order to help the Federal Government get the money to pay for all the interest on debt resulting in massive inflation for the next few years."

Repeat it often enough and it might even come true. Might even make up for gold not paying dividends.
 
2012-12-04 11:00:42 PM
media.screened.com
 
2012-12-04 11:16:03 PM
It doesn't make sense for platinum to be worth less than gold.
 
2012-12-04 11:22:01 PM
The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.
 
2012-12-04 11:28:31 PM
Kitty been smelling a gold bubble for like three years now.
 
2012-12-04 11:30:08 PM
Even longer term answer is... yes gold will still be valuable years from now. As an investment to resell gold has never been the best. As an investment against economic collapse it's probably a better bet than paper money if you really think something like that will happen. At the very least you can make pretty things out of gold as tribute for your new warlord. People buy gold because they think shiat is going to hell.

Humanity has always had an insane and irrational love for gold. We have moved mountains, toppled kingdoms, and exterminated whole peoples in our quest for it. To think people will stop loving gold because MarketWatch tells us not to is a bit weird. And until recently gold wasn't really even all that useful.
 
2012-12-04 11:31:21 PM

Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.


Gold is one step up from fiat on the currency scale. Food and guns/ammo being the top.
 
2012-12-04 11:37:05 PM
First, it was an election year. Gold always peaks in October and gets sold off after the election. This is not a new trend, nothing to see here on that score. However.....

Second,

Kittypie070: Kitty been smelling a gold bubble for like three years now.


This. It isn't really a huge bubble, but it is significant enough that if it drops quickly enough it may cause a lot of problems for a lot of people. I'd like to see an easing back down to the $1000 range, at which point I think the volatility will depart. If it drops down to that level over the course of one or two days though, and panties will bunch. Bigtime.
 
2012-12-04 11:37:07 PM

jake_lex: But Glenn Beck told me to buy gold, and he gets his info straight from Jesus a glorified man from the planet Kolob.


FTFY
 
2012-12-04 11:39:12 PM

Kittypie070: Kitty been smelling a gold bubble for like three years now.


You can thank our wonderful debt situation for that. Not sure that it will ever materialize with the way our finanaces are headed.
 
2012-12-04 11:40:22 PM
Yeah! So buy silver!

/stuck with silver stock
 
2012-12-04 11:48:29 PM

HeadLever: Gold is one step up from fiat on the currency scale. Food and guns/ammo being the top.


I'm very much interested in seeing this scale. Might you have a link/infographic handy?
 
2012-12-04 11:51:36 PM

HeadLever: Gold is one step up from fiat on the currency scale. Food and guns/ammo being the top.


THIS. For gold to have value - you must have buyers. And during the apocalypse shiny metals would be near the bottom of the interested items list.

/the only reason gold is as high as it is now is due to the feed frenzy around it - classic bubble
 
2012-12-05 12:08:25 AM
i swear to god, just let it crash then, if the central banks don't want their gold, then why the fark do they hold it in vaults underneath the financial capitals of the world.. are you people seriously retarded?
 
2012-12-05 12:10:49 AM

Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.


Most people who buy and own gold aren't expecting total societal collapse, or they WOULD be buying cabins and hording ammo and food instead of gold.
 
2012-12-05 12:14:24 AM
threesecondsofdeadair.files.wordpress.com
 
2012-12-05 12:56:08 AM
one last thing on gold, because fark this shiat is wearing thin..

so even if gold spot price drops, that has nothing to do with availability, spot is determined in no small part by "paper" gold contracts, which might or might not be backed by real reserves (as in, look the shiat up, it's fractional, just like the bank loans your money/credit orders of magnitude higher than your deposits, the commodity warehouses and exchanges(and any "owner" for that matter) lend gold.)

this means that significant outflows from gold funds (people redeeming their contracts for physical possession to hold in their aforementioned barricaded cabins with their stores of ammo, food, and seeds) could cause the "open market price to drop", while simultaneously removing gold from the market. see collateral calls, other bullshiat, deleveraging blah blah don't care.

the effects of a significant removal of gold would temporarily look like a price drop, until the next wave of interest (crisis coming? gold profits taken then reinvest, ride, has been cycle...) then once it's noticed that there are fewer shares trading, next leg up.


I don't own gold, too poor, but yeah, in the minimal carry guns/food/survival camp, cause that's where i got put, if i had more money at birth it'd be different.

still though, the crying glenn beck? really? monetary policy is what led to the crisis, not overspending or undertaxing(those being guided by the former..). i can't wait until the debate is about real shiat, and not quibbling over the crumbs dropped from the final feast of the current elite. fark american politics, y'all are seriously dumb.
 
2012-12-05 12:57:43 AM

JohnAnnArbor: It doesn't make sense for platinum to be worth less than gold.


The day that Mastercard introduced their new platinum card was the first time I remember gold being worth more than platinum.
/priceless
 
2012-12-05 01:03:29 AM
Well, you can melt silver down into bullets in case the zombie apocalypse is followed by hordes of werewolves, so there's that.
 
2012-12-05 01:05:26 AM

Great Janitor: Well, if you have all the gold in a 100 mile radius, what is that going to do for you?


It'll buy you a plane ticket to a less farked-up part of the world. You can watch the gun nuts fight it out with the subsistence farmers as you sip your scotch at 30,000 feet.

If the entire planet collapses at once, then you can put your gold coins into an old sock and whack people on the head with it. It's much denser than any rock your opponent is likely to find.
 
2012-12-05 01:17:57 AM

Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.


HAHAHAHAHA. Love your post Janitor. Those people who bought gold at 300, 900, 1400 are really suffering right now. Stupid people what are they going to do with that gold not like they can sell it to aquire other goods. You are right about food and stuff, I have been buying and storing bread, eggs, milk, cheese, beef, chicken, pork for the past two yrs. The bread is nice and dusty green, the milk has doubled in size (profits), and the eggs smells great. The beef, chicken and pork are giving off a great smell (more profits) even turned a beautiful hue of black and brown. You are so right gold will be worthless and I will be king with all my food.
 
2012-12-05 01:34:18 AM
I have some lovely tulip bulbs I'll trade you for all your gold.

/only Dutch need apply
 
2012-12-05 01:35:15 AM

JohnAnnArbor: It doesn't make sense for platinum to be worth less than gold.


Platinum is rarer, I believe, but it isn't nearly as coveted as gold. Also, one of the major pillars supporting gold price at the moment is central bank buying. Central banks aren't actively buying platinum because it isn't widely viewed as a monetary metal like gold is.
 
2012-12-05 01:54:53 AM
subby and posters have missed a very important part of the article.

"So far this year, gold futures have gained over 8%."

yeah that sounds like a halfway decent return to me.

The article is clearly only making sense in the terms of short term holdings/day trading.
 
2012-12-05 02:08:25 AM

TDBoedy: subby and posters have missed a very important part of the article.

"So far this year, gold futures have gained over 8%."

yeah that sounds like a halfway decent return to me.

The article is clearly only making sense in the terms of short term holdings/day trading.


Well, a lot of people do listen to right wing talk radio, and they advertise a lot, and most folks who listen to it are stupids, so ....
Of course futures go up.
Im really glad my old man had some gold coins- it was the only way i could pay for his funeral ( after selling them for cash, of course )
 
2012-12-05 02:57:41 AM

Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.


You could always make gold bullet slugs.
 
2012-12-05 03:12:50 AM

pmdgrwr: Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.

HAHAHAHAHA. Love your post Janitor. Those people who bought gold at 300, 900, 1400 are really suffering right now. Stupid people what are they going to do with that gold not like they can sell it to aquire other goods. You are right about food and stuff, I have been buying and storing bread, eggs, milk, cheese, beef, chicken, pork for the past two yrs. The bread is nice and dusty green, the milk has doubled in size (profits), and the eggs smells great. The beef, chicken and pork are giving off a great smell (more profits) even turned a beautiful hue of black and brown. You are so right gold will be worthless and I will be king with all my food.


Right now there are three groups buying up gold: 1) those who believe the world as we know it will soon end (aka: Doomsday preppers) and are stashing gold thinking that when things collapse the gold will be the new currency. 2) People who think that the price of gold is never going to drop and are buying it all up today thinking (foolishly) that their gold will never decrease in value. 3) Business buying gold from anyone who will sell it and then selling it to anyone who will buy it.

Group 3 is the only real winner here because they're the only ones who will make a profit in all of this. Buy lower, sell higher, and when the bubble pops, as bubbles are known to do, they aren't going to be stuck with much inventory due to everyone who foolishly bought gold. Gold will be at a historically low price, and that's when I'll buy some gold at incredibly low prices and let the market recover and profit.

Group 2 are idiots because historically, gold has never had the jump in value that it's had over the past 10 years. And once the new year hits and the world is still chugging along, that gold is going to drop in value.

Group 1 are idiots because without a currency, gold only has value to the person who has the goods you want. If I'm the only person you know in a 10 mile radius who is growing potatoes and you have four shoe boxes of gold and you're the only person in that 10 mile radius with the gold, then you have a monopoly on something that no one may want. Instead of buying gold and burying it, the smart move would be guns, ammo, more ammo, food that won't spoil, water, development of skills like carpentry and hunting and fishing.

There is zero guarantee that if the doomsday preppers are right and everything collapses that gold will become the default currency. It could become porn magazines or legos. And if it does become pure bartering for a while, and you have four shoe boxes of gold and I have a potato farm and while you're negotiating with me some other guy shows up with jars of jellies and recently baked bread I'm going to trade with him over you.
 
2012-12-05 03:37:50 AM

Great Janitor: Right now there are three groups buying up gold: 1) those who believe the world as we know it will soon end (aka: Doomsday preppers) and are stashing gold thinking that when things collapse the gold will be the new currency. 2) People who think that the price of gold is never going to drop and are buying it all up today thinking (foolishly) that their gold will never decrease in value. 3) Business buying gold from anyone who will sell it and then selling it to anyone who will buy it.


The top buyers of gold by a mile are government central banks. They buy it as reserves. They tell you it's not money, because they are in the fiat money printing business which competes against gold, but meanwhile they use it as money themselves. They store it, because it is more stable than paper currency.
2000 years ago, an ounce of gold would have bought you a very fine toga and a nice pair of sandals. Today it will buy you a top quality suit and an expensive pair of shoes. Gold is a steady store of value that has a 2000+ year track record, which is better than just about anything else you care to name. If governments didn't think so, they wouldn't bother holding massive tonnage reserves of it in vaults.
It's not really an investment, because over the long term, it will simply track with inflation. It is a store of value that has a great track record over the long term for holding its worth relative to durable goods.
 
2012-12-05 03:47:22 AM
i21.photobucket.com
Thats right humans, rid yourselves of the useless metal!
 
2012-12-05 05:08:00 AM
I think the government should stay off the Gold Standard, so that the Pound can reach a level that would keep our exports competitive. (For those that know the quote)
 
2012-12-05 07:47:24 AM

Ambivalence: Nadie_AZ: Ambivalence: FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?

The media is the attention whore you knew growing up. ANYTHING for attention.

LOL! It amuses me to think of the media as the ugly chick wanting to flash her boobs to everyone she meets.

Put that away, no one wants to see that.


Now let's not be hasty.
 
2012-12-05 08:25:41 AM
If you can't trust G. Gordon Liddy then who can you trust?
 
2012-12-05 08:40:25 AM

Wrencher: You could always make gold bullet slugs.


Why? Are Jewish werewolves going to be an issue?
 
2012-12-05 08:44:49 AM

TofuTheAlmighty: Is Was gold still ever a safe haven? Short answer: no. Long answer: HAHAHAHAHAH, no

Edited for accuracy


It's a safe haven against inflation. The problem being inflation has been very low and shows no sign of inceasing anytime soon, despite what the fearmongers say.
 
2012-12-05 09:42:19 AM

JohnAnnArbor: It doesn't make sense for platinum to be worth less than gold.


Why? It's all supply, demand, and speculation. If no one wants platinum, it doesn't matter if it's rare or considered "more precious".
 
2012-12-05 09:46:18 AM
"Is buying (X) stock or commodity at peak value a safe haven?"

No. No it usually is not. But if you had bought gold as opposed to say Sears stock in 1990 and held on to it, you'd probably be doing better now.
 
2012-12-05 09:56:46 AM

Ambivalence: FFS the article has a "fiscal cliff countdown clock". I feel like the media is treating politics like the next big reality show. WTF?


The price of gold and the "fiscal cliff" countdown have quite a lot to do with each other.

Bush and a Republican Congress passed "temporary" tax cuts over a decade ago. The countdown is how many days until they once again expire.

These tax cuts effect not only income from employment, but also income from investments, like gold.

All these tax cuts should have expired in 2010. However, Obama and a Democratic Congress renewed them all two years ago.

So now, people who have made a killing on their investments over the last decade want to sell them because they are worried that the tax on money you made from investments will jump from 15% back up closer to 40% where they used to be.

They are screaming "fiscal cliff" to try to convince the gullible public that taxes on the rich shouldn't return to the levels they were at the last time we had a very nearly balanced budget.

The word "cliff" sounds bad, right?
 
2012-12-05 09:58:31 AM

pmdgrwr: Great Janitor: The thing about gold and silver buying, it has a flaw with it. The idea being that if things went to shiat with this 2012 nonsense, and the governments collapsed, then those with gold would be the new rich people. Well, if you have all the gold in a 100 mile radius, what is that going to do for you? If there was a collapse of the economic system, there is no guarantee that gold or silver would be the de facto replacement currency. In fact, without a government in place, there is no currency and we'd be back to a bartering system. The richest man won't the one with the most gold, he'd start out being the one who could produce enough food to not only feed his family and still have enough to barter with to the locals for needed services and goods.

With no currency and only bartering with gold and silver for goods and services, those precious metals would be almost worthless. If it can't be eaten, used for defense, offense, used to grow food or care for animals or used to build and maintain shelter, it's just shiny metal. Gold and silver coins that doomsday preppers are burying underground for the possible fall of the government, those will be as valued and as useful as those tokens I never used from that arcade that closed down 25 years ago.

HAHAHAHAHA. Love your post Janitor. Those people who bought gold at 300, 900, 1400 are really suffering right now. Stupid people what are they going to do with that gold not like they can sell it to aquire other goods. You are right about food and stuff, I have been buying and storing bread, eggs, milk, cheese, beef, chicken, pork for the past two yrs. The bread is nice and dusty green, the milk has doubled in size (profits), and the eggs smells great. The beef, chicken and pork are giving off a great smell (more profits) even turned a beautiful hue of black and brown. You are so right gold will be worthless and I will be king with all my food.


Now, if I were REALLY concerned the world (or our government) was going to end, instead of buying up gold, I'd be busy buying up acres of land with clean wells or flowing water, farm equipment, stock up on supplies that may be needed to maintain said farm equipment, mechanic and agriculture classes, building small shelters on my property, stocking those up with iron rations, buying guns and ammunition, and so forth.

Because those will help me a hell of a lot more than a bag of shiny, glittery rocks under my bed. The idea that those who'd rather invest in food than gold would buy perishable foods and let them rot over your oh-so-worthwhile investment of a shiny rock is imbecilic.
 
2012-12-05 10:00:05 AM

Great Janitor: And if it does become pure bartering for a while, and you have four shoe boxes of gold and I have a potato farm and while you're negotiating with me some other guy shows up with jars of jellies and recently baked bread I'm going to trade with him over you.


You hurt my feelings please trade me potatoes, please. Do you currently own land, own a potatoe farm or do you live in an apartment. Maybe you were lucky enough to keep your home. Good luck with your potato farm.

Group 2 are idiots because historically, gold has never had the jump in value that it's had over the past 10 years. And once the new year hits and the world is still chugging along, that gold is going to drop in value. I have been hearing that since gold was 800 oz. Yahoo finance had an expert on in Aug saying gold was going to be 600oz by now, so did msnbc and others. Let me guess its Obama's reelection that holds it up?

Instead of buying gold and burying it, the smart move would be guns, ammo, more ammo, food that won't spoil, water, development of skills like carpentry and hunting and fishing.

You say that like it is an original idea and preppers owning gold have never thought of doing such a thing. Son you are nothing new, and need to learn why gold went up in value. It has nothing to do with dooms day or a collapse in society and monetary system (the dollar will always be here, it may take much more to buy goods but it will be here). You sound worse than the preppers because you buy into them. Gold is up in value because a decrease in value of the worlds reserve currency (purchasing power, you must think that the more cash you have the richer you are), central bank buying, no faith in the federal reserve and the US government, no faith in the stock market, no faith in banks with .05% intrest.
 
2012-12-05 10:43:31 AM

Ivo Shandor: Great Janitor: Well, if you have all the gold in a 100 mile radius, what is that going to do for you?

It'll buy you a plane ticket to a less farked-up part of the world. You can watch the gun nuts fight it out with the subsistence farmers as you sip your scotch at 30,000 feet.

If the entire planet collapses at once, then you can put your gold coins into an old sock and whack people on the head with it. It's much denser than any rock your opponent is likely to find.


Assuming you find a major airline who will take a bunch of gold as payment for a ticket. You could try chartering a flight but that doesn't get you to 30,000 feet, very far away, and the local who is flying is going to be more interested in fuel for his plane, food for his kids, etc.
 
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