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(Barron's)   Gold celebrates 12th straight year of not completely sucking   (blogs.barrons.com) divider line 28
    More: Obvious, troy ounces  
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852 clicks; posted to Business » on 01 Jan 2013 at 11:25 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-01 11:26:38 AM
Time to invest!
 
2013-01-01 11:30:45 AM
It'll keep going up forever! What could possibly go wrong?
 
2013-01-01 11:30:55 AM
It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.

Take my advice:  Invest in whiskey.  You can store an awful lot of it for many many years and it can be traded for anything.  In an apocalypse, people are going to want to get bent.
 
2013-01-01 11:42:47 AM
Alternate headline: The US Dollar celebrates it's 12th year of sucking.

Thanks US Treasury!!
 
2013-01-01 11:44:30 AM

nekom: It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.

Take my advice:  Invest in whiskey.  You can store an awful lot of it for many many years and it can be traded for anything.  In an apocalypse, people are going to want to get bent.


I had a client that wanted me to go into the retail liquor business with him years ago. In retrospect, I wish I had done it. It's one of the few products that won't be hurt by internet competition.
 
2013-01-01 11:54:40 AM
7% was a whole lot worse than the stock market this year.
 
2013-01-01 12:00:02 PM

StrikitRich: Alternate headline: The US Dollar celebrates it's 12th year of sucking.

Thanks US Treasury!!


QE3 is pumping in 40 billion a month into the economy by buying up bad bank loans, but that money isn't circulating since the banks are just sitting on it.  Wait until all the QE money gets released.
 
2013-01-01 12:01:53 PM

nekom: It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.

Take my advice:  Invest in whiskey.  You can store an awful lot of it for many many years and it can be traded for anything.  In an apocalypse, people are going to want to get bent.


I would like to subscribe to your journal.

I assume one mostly uses cheap stuff as currency; but keep enough single malt Scotch as needed to bribe officials and warlords?
 
2013-01-01 01:05:41 PM
It's going to be hilarious when this bubble bursts.
 
2013-01-01 01:05:45 PM

nekom: It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.

Take my advice:  Invest in whiskey.  You can store an awful lot of it for many many years and it can be traded for anything.  In an apocalypse, people are going to want to get bent.


Paper will be worth nothing...gold will be worth (x) when paper becomes worth something again.

Alchohol can be distilled easily from corn and grain and lots of other things....gold has to be mined and smelted and is rarer than whiskey.

Would you rather carry an ounce of gold or 20 cases of whiskey?
 
2013-01-01 01:07:47 PM

erveek: It's going to be hilarious when this bubble bursts.


If so owners of gold should be bailed out like homeowners who are underwater on their homes due to the housing bubble......wouldn't you agree?....at least in principle?
 
2013-01-01 01:23:29 PM

you have pee hands: 7% was a whole lot worse than the stock market this year.


You're supposed to be in stocks for the long term right?

Look back 12 years and see where your comparison is.
 
2013-01-01 01:30:17 PM

AcneVulgaris: you have pee hands: 7% was a whole lot worse than the stock market this year.

You're supposed to be in stocks for the long term right?

Look back 12 years and see where your comparison is.


Umm... Surely one should try to forecast forward when considering investing?

Anyway, tell me the 20- or 30- year historical comparison between gold and stocks...
 
2013-01-01 01:49:03 PM
That's great!

Now try and sell the gold.
 
2013-01-01 01:57:28 PM

Giltric: erveek: It's going to be hilarious when this bubble bursts.

If so owners of gold should be bailed out like homeowners who are underwater on their homes due to the housing bubble......wouldn't you agree?....at least in principle?


"Principle" is irrelevant. Practical cause and effect is all that matters.

If a gold crash results in major disruptions to the economy that hurt nearly all Americans and not just the investors themselves, because (as with real estate, banking, and the auto industry) we Americans are too small-minded and ideological to impose regulations preventing any industry or entity from becoming "too big to fail," then we absolutely would have no choice but to perform a gold bailout.
 
2013-01-01 02:13:37 PM
opiumpoopy:
Umm... Surely one should try to forecast forward when considering investing?

Anyway, tell me the 20- or 30- year historical comparison between gold and stocks...



Lets just take it to the max and go back to the beginning of time, shall we? Lets find a final home for those goalposts.
 
2013-01-01 02:15:29 PM
Bacon flavored lube ain't new you whipper snappers, People have been using bacon grease as lube since like the invention of bacon
 
2013-01-01 02:17:04 PM

Gosling: It'll keep going up forever! What could possibly go wrong?


You know, different from every other commodity, I heard the value of gold has never been zero. Imagine that! Never Zero!!
 
2013-01-01 03:06:38 PM
Salt has never been zero.
Iron has never been zero.
Textiles have never been zero.
Food has never been zero.
Electricity has never been zero.
Oil has never been zero.
Aluminum has never been zero.
Nutmeg has never been zero.

If you want some entertaining economics history read about the value of aluminum in 19th century US.
Also read about the Dutch trading away Manhattan for nutmeg islands.
 
2013-01-01 03:10:26 PM
It won't go up forever, but I still think the bull run has legs. I'm going to continue to hold.

I had to go into my safe last week to get some documents, and since I was in there, I opened my box of bullion. There's something about holding gold bars in my hand...it feels awesome, like it holds some sort of strange powers. Intellectually I know that's nonsense, but still it was a pretty amazing feeling.

Then the family and I went to see The Hobbit and I chuckled a little at the scenes with the gold. For thousands of years, men have sailed to foreign lands and fought great wars in pursuit of gold. It's pretty amazing to think about the role gold has played throughout history. That said, I will have no problem selling some when the time is right, but I'll never sell it all.
 
2013-01-01 04:21:13 PM

Giltric: nekom: It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.

Take my advice:  Invest in whiskey.  You can store an awful lot of it for many many years and it can be traded for anything.  In an apocalypse, people are going to want to get bent.

Paper will be worth nothing...gold will be worth (x) when paper becomes worth something again.

Alchohol can be distilled easily from corn and grain and lots of other things....gold has to be mined and smelted and is rarer than whiskey.

Would you rather carry an ounce of gold or 20 cases of whiskey?


Neither.  Toilet paper and tampons will be the new currency.
 
2013-01-01 06:00:51 PM
If every thing collapses then Salt will be the major currency. It is far older than gold as being used as a currency.
 
2013-01-01 07:48:48 PM

DogBlack: Salt has never been zero.
Iron has never been zero.
Textiles have never been zero.
Food has never been zero.
Electricity has never been zero.
Oil has never been zero.
Aluminum has never been zero.
Nutmeg has never been zero.

If you want some entertaining economics history read about the value of aluminum in 19th century US.
Also read about the Dutch trading away Manhattan for nutmeg islands.


Hence my mocking of that dumb ass selling line in those commercials.
 
2013-01-02 03:53:22 AM

Atomic Spunk: It won't go up forever, but I still think the bull run has legs. I'm going to continue to hold.

I had to go into my safe last week to get some documents, and since I was in there, I opened my box of bullion. There's something about holding gold bars in my hand...it feels awesome, like it holds some sort of strange powers. Intellectually I know that's nonsense, but still it was a pretty amazing feeling.

Then the family and I went to see The Hobbit and I chuckled a little at the scenes with the gold. For thousands of years, men have sailed to foreign lands and fought great wars in pursuit of gold. It's pretty amazing to think about the role gold has played throughout history. That said, I will have no problem selling some when the time is right, but I'll never sell it all.


Happy New Year brah
 
2013-01-02 07:05:40 AM

nekom: It may be a good hedge against inflation, but these people who believe that it will have any value at all when society collapses are sorely mistaken.  You can't eat gold, and our post-apocalyptic bartertown will be many years from an industrial use for gold.


You dont need an industrial system to barter gold. It works if only because it is a scarce token you cant grow, print or find easily. Its supply has increased right around the same percentage as human population over the last few thousand years. The cost to mine in terms of manpower and labor is right about in line historically with the market price.

The whole reason man created currency is to give durability to scarce goods. If you're a fisherman and have a cart full of fish, you cant sit on your catch and wait for a good price like a shoemaker, blacksmith or cattle rancher might. Those who have perishable goods can hold out those who dont in a barter society. Currency allowed people to specialize their labor so that an individual who had the ability to labor didn't have to barter a few hours of their labor a day to each the butcher, baker and candlestick maker in exchange for what they needed. They could work in a single location, in a specialized field and then exchange their labor for something that other people found valuable.

In short, I have more faith in Gold and Silver than I do in T-bills, but then again, most people who are making G&S a part of their portfolio have already invested in medicine, H20, food, steel and brass - so there's that.
 
2013-01-02 07:13:35 AM

Giltric: erveek: It's going to be hilarious when this bubble bursts.

If so owners of gold should be bailed out like homeowners who are underwater on their homes due to the housing bubble......wouldn't you agree?....at least in principle?


No, I wouldn't agree.

For starters, much of the housing bubble was caused by artificially cheap credit. Banks were deliberately lending to people who they knew couldn't pay them back. The banks got bailed out, and people got a token halfassed effort long after the damage had been done.

There is no such situation involving gold.

Everyone knows the basis of all investment: buy low, sell high. Most of the commercials use the high price of gold as a selling point. If you wanted to buy gold, the best time to do so was when there were commercials touting that they would buy your gold for CASH!!!! Now is a good time to sell. Or if you're greedy, wait to sell and press your luck until the bubble bursts.
 
2013-01-02 02:49:22 PM

erveek: Giltric: erveek: It's going to be hilarious when this bubble bursts.

If so owners of gold should be bailed out like homeowners who are underwater on their homes due to the housing bubble......wouldn't you agree?....at least in principle?

No, I wouldn't agree.

For starters, much of the housing bubble was caused by artificially cheap credit. Banks were deliberately lending to people who they knew couldn't pay them back. The banks got bailed out, and people got a token halfassed effort long after the damage had been done.

There is no such situation involving gold.

Everyone knows the basis of all investment: buy low, sell high. Most of the commercials use the high price of gold as a selling point. If you wanted to buy gold, the best time to do so was when there were commercials touting that they would buy your gold for CASH!!!! Now is a good time to sell. Or if you're greedy, wait to sell and press your luck until the bubble bursts.


Gold has had a good run but doesn't have that bubble feel to it yet.  Remember the last couple of bubbles, Internet and housing, you couldn't swing a cat without hearing about them.  Except for the Beck derp and the Cash for Gold people, gold isn't on everybody's lips like housing and Internet were.  There's still time.
 
2013-01-02 04:28:13 PM

relaxitsjustme: Atomic Spunk: It won't go up forever, but I still think the bull run has legs. I'm going to continue to hold.

I had to go into my safe last week to get some documents, and since I was in there, I opened my box of bullion. There's something about holding gold bars in my hand...it feels awesome, like it holds some sort of strange powers. Intellectually I know that's nonsense, but still it was a pretty amazing feeling.

Then the family and I went to see The Hobbit and I chuckled a little at the scenes with the gold. For thousands of years, men have sailed to foreign lands and fought great wars in pursuit of gold. It's pretty amazing to think about the role gold has played throughout history. That said, I will have no problem selling some when the time is right, but I'll never sell it all.

Happy New Year brah


Hey relaxitsjustme - Happy New Year to you too, brah!
1.bp.blogspot.com

I appreciate the TF subscription - Mahalo and best wishes to you and yours for 2013! I hope you're enjoying the cool rainy weather - I know I am. Take care
 
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