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(Yahoo)   AGh and AU no   (gma.yahoo.com) divider line 243
    More: Obvious, SoftBank, hyperinflation  
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13219 clicks; posted to Main » on 15 Apr 2013 at 1:02 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-04-15 01:18:33 PM  

Great Janitor: Called it!

Gold is a valuable metal, but most of it's rise in value has been over the past 10 years and that was part of the 2012 end of the world non-sense.  The only market for gold was for jewelers and gold buyers.  Anyone who bought gold thinking that it would be the only currency following the collapse of the U.S. Government and buried it in their backyards wasted their money since now, the gold is losing value, and that even if the government collapsed, that gold is only as valuable as the person who your are trading it to who has the food/medicine/supplies/services that the person with the gold needs.  If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.


Gold rises and falls in cycles and it always crashes back down after a while.  It hit extreme highs so you can expect an even bigger fall for anyone who doesn't get out although it may already be too late.  Fools and their money.
 
2013-04-15 01:18:37 PM  

FloydA: Sad trombone for the gold bugs.  Anyone who couldn't see this coming really needs to let a professional handle their investing.


They were!  Rush Limbaugh and Glenn Beck are professional...  somethings.  There's a term for it...


Oh yeah, scam artists / scare mongers.
 
2013-04-15 01:18:38 PM  
i.qkme.me
 
2013-04-15 01:20:01 PM  
The Atlanta Braves have started the season by winning 11 of their first 12 games. If this trend continues, the Braves will win 148 games this year...
 
2013-04-15 01:21:40 PM  
This bubble lasted much, much longer than I thought it would.

The most it can logically fall from a price perspective is to around $800 an ounce, but it won't go that low.  That's the cost to produce for the most inefficient miners.  Wait four years.  That will likely be where it shoots below where it should be.
 
2013-04-15 01:21:53 PM  
It could be the beggings of a bubble burst. But 90/oz dosent seem significant if you look at 5-10year trends. It could just be a hickup or minor adjustment.
 
2013-04-15 01:22:12 PM  

Great Janitor: the only currency following the collapse


This is why I am heavily invested in fresh tomatoes.
 
2013-04-15 01:22:39 PM  

Great Janitor: If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.


I'll pay you with corn, but you ain't touchin' my cock!
 
2013-04-15 01:22:54 PM  

Sin_City_Superhero: The Atlanta Braves have started the season by winning 11 of their first 12 games. If this trend continues, the Braves will win 148 games this year...


It's the same logic that led to so many people getting screwed in the housing bubble.  "Prices will go up forever, let's borrow the maximum that we can!!!"  Not that everyone who got screwed was doing this.
 
2013-04-15 01:23:11 PM  
Silly Gold Bugs, your commodity with no intrinsic value beyond societal consensus was BOUND to have a price collpase on day.  Now me? I'm a SMART doomsday Prepper and have invested MY life savings in something valuable and SAFE that's recently seen a sudden dramatic rise in value...Bitcoins, of course, ..what that?  No I haven't checked the trading quotes for Bitcoins in a couple of day, why do you ask?
 
2013-04-15 01:24:26 PM  

Apos: whistleridge: Ag, Au no. Cu later...

Na


A group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar.  The bartender looks up and says, "OH, SNaP!"
 
2013-04-15 01:24:57 PM  

xanadian: FTFA: For years gold bugs have predicted economic apocalypse with hyper-inflation and a collapse of stock prices. That simply hasn't happened, and many investors have given up on gold, shifting funds out of precious metals. Last week Goldman Sachs issued a report, predicting gold prices would tumble. More volatility is expected in the days to come.

One thing I've learned as a contrarian is that if somebody's doing their damnedest to push a commodity, you can bet that commodity is due for an eventual and monumental collapse.


I've been watching Goldman Sachs breathlessly push $2000+ gold for the last several years.  Now, they've cut it to $1300.  Hustlers and pimps, the lot of them.
 
2013-04-15 01:26:13 PM  

jack21221: Apos: You *might* have pulled off this off, subby, if you'd paused long enough to use the right atomic symbols.

Am I missing something? Ag and Au are the correct symbols for silver and gold.


It's the way they were written that I was referring to-though I suspect, in hindsight, that that might have been....intentional.
 
Bf+
2013-04-15 01:26:16 PM  
www.henrycounty912project.com
 
2013-04-15 01:26:51 PM  
THANK GOD.

This is going to make our research cheaper. Not much, but with the sequester @#%#@ up the grant process, we're going to to try to shave off every bit we can.

(To the point where we're scraping out the inside of the evaporator to recapture the lost gold waste)

This is quite helpful, since we were out of chloroauric acid salts...
 
2013-04-15 01:26:56 PM  
Maybe the price of ammo will come down now.
 
Bf+
2013-04-15 01:27:21 PM  

Carthax: Apos: whistleridge: Ag, Au no. Cu later...

Na

A group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar.  The bartender looks up and says, "OH, SNaP!"



You're sure to get a lot of reactions to that.
 
2013-04-15 01:28:22 PM  

Bf+: Carthax: Apos: whistleridge: Ag, Au no. Cu later...

Na

A group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar.  The bartender looks up and says, "OH, SNaP!"


You're sure to get a lot of reactions to that.



I see what you concocted there.
 
2013-04-15 01:28:22 PM  

Great Janitor: If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.


This.

Gold is, basically, just some pretty rock that someone found in the ground.  In a kind of post-apocalyptic society, it has no intrinsic value.. ZERO...   A far better metal to hoard would be gold's cousin, lead.  More specifically, enough raw supplies to make bullets, lots and lots of bullets... THOSE would have real value.  The dude with all the ammo is the dude with all the power.

Hasn't anyone watched Revolution or The Walking Dead??????
 
2013-04-15 01:28:42 PM  

I_C_Weener: The Stealth Hippopotamus: All is not well. Someone is dumping a large amount of gold into the market and people who have no clue are panicking.
[bplusmovieblog.files.wordpress.com image 590x369]

I have a suspect.


So do I.
static-imgs-acf.hereisthecity.com
 
2013-04-15 01:28:50 PM  
Not impressed.

If you take a look at the historical price of gold, 10 years ago it was under $500 (per oz), 5 years ago it was under $1000. As far as I can tell even a 10% drop doesn't come close to popping the bubble.
 
2013-04-15 01:29:24 PM  

Sin_City_Superhero: The Atlanta Braves have started the season by winning 11 of their first 12 games. If this trend continues, the Braves will win 148 games this year...


It's hard to argue with math.  I need to call my bookie.
 
2013-04-15 01:29:43 PM  
But if gold prices crash, what will happen to all the reality TV shows following morons, drunks, and con-artists in Alaska and Canada on their quests to mine gold/bilk their investors?  Damn it, what will I do with my Friday nights?
 
2013-04-15 01:29:49 PM  

Rapmaster2000: Did you know that disco record sales are up 400% for the year ending 1976?  If these trends continue...


Actually, with the upcoming release of a new Daft Punk album, I bet disco records will be at the top the charts this year.
i.imgur.com
 
2013-04-15 01:29:52 PM  
Ok, once again, here we go, repeat after me, "What goes up, must come down."
 
2013-04-15 01:30:14 PM  

Steak_Cake_Sause: It could be the beggings of a bubble burst. But 90/oz dosent seem significant if you look at 5-10year trends. It could just be a hickup or minor adjustment.


people.hofstra.edu

I think this is the Fear phase.  The Bull Trap (hiccup) ended in January.

peterlbrandt.com
 
2013-04-15 01:30:54 PM  
Couldn't be happening to nicer, more paranoid assholes.
 
2013-04-15 01:30:57 PM  

groppet: You mean Glenn Beck may have lied to us?!?!? UNPOSSIBLE!!


He got paid. One can only hope he really bought into his own BS and is taking it on the chin today.
 
2013-04-15 01:31:01 PM  

Donnchadha: Wow. Chemistry fail, subby.


Why?

AU and AG is correct.
 
2013-04-15 01:31:09 PM  
this is what happens when jackasses decide that doing fractional reserve lending on gold is a good idea
 
2013-04-15 01:31:51 PM  
As someone who bought gold thirty ounces of gold six years ago at 700 and sold it all last year at 1500, I've been laughing pretty damn hysterically this weekend.
 
2013-04-15 01:32:41 PM  

The Stealth Hippopotamus: How the hell do you have a report on the dip in gold prices without talking about Cypriot flooding the market?!

More American Media fail.


Uh, Cyprus has announced that it will sell its gold reserves, but have they actually done so yet?  If/when they do, they're not going to just "dump" it all at once.

Also, they only hold about $3 billion in gold, which is a drop in the global market.

I'd tell you to stop panicking, but I'm fairly certain you're an idiot.  So I'll suggest putting a plastic bag over your head until you calm down.
 
2013-04-15 01:33:04 PM  

Snapper Carr: [southofheaven.typepad.com image 638x476]


What a BO2B.
 
2013-04-15 01:33:10 PM  

ShawnDoc: But if gold prices crash, what will happen to all the reality TV shows following morons, drunks, and con-artists in Alaska and Canada on their quests to mine gold/bilk their investors?  Damn it, what will I do with my Friday nights?


Dogs. Shows about pampered dogs.

Make Way For Moopsie, coming this fall on Cartoon Network!
 
2013-04-15 01:34:32 PM  

Apos: Bf+: Carthax: Apos: whistleridge: Ag, Au no. Cu later...

Na

A group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar.  The bartender looks up and says, "OH, SNaP!"


You're sure to get a lot of reactions to that.


I see what you concocted there.


mediacdn.snorgcontent.com
 
2013-04-15 01:34:47 PM  
Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?
 
2013-04-15 01:35:35 PM  
Great Janitor:   If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.

But what if I offered you a chicken made of gold!
 
2013-04-15 01:35:41 PM  

Donnchadha: Why would he write out the "ahhhhgh" sound? Wouldn't he just say it?


Perhaps he was dictating.
 
2013-04-15 01:37:22 PM  

snowshovel: Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?


What's this 'DVD' you speak of?
 
2013-04-15 01:38:13 PM  

MassD: Great Janitor: If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.

This.

Gold is, basically, just some pretty rock that someone found in the ground.  In a kind of post-apocalyptic society, it has no intrinsic value.. ZERO...   A far better metal to hoard would be gold's cousin, lead.  More specifically, enough raw supplies to make bullets, lots and lots of bullets... THOSE would have real value.  The dude with all the ammo is the dude with all the power.

Hasn't anyone watched Revolution or The Walking Dead??????


well lead's nice, but not strictly necessary for ammo, hard wood can make a decent bullet in a pinch, as can kiln fired-clay. what you REALLY want is a stockpile of sulfur.   Charcoal's easy to make, and anyone with access to a bat-filled cave or bird nesting ground (or in a pinch human or cow manure) can refine enough nitrates, but Sulfur?  Sulfur's tricky, you have to find a supply and mine it, and there is no real substitute.  In my vision of Post apocalyptic America I become the richest man in the US by allowing all those folks with the rapidly becoming useless glocks, ar-15's uzi's etc etc to trade them in for a muzzleloader, a bullet casting kit and a supply of blackpowder,  and then use the automatics to equip a paramilitary force to lock down all local supplies of sulfur.
 
2013-04-15 01:38:17 PM  
But I was assured by multiple commercials that the value of gold NEVER GOES DOWN!
 
2013-04-15 01:38:23 PM  
Hey -

Does this mean those bearded morons will be off my television on Friday nights?

Gold Rush ?

Should have called the series Fool's Gold.
 
2013-04-15 01:38:29 PM  
*shrug* It will go back up. It might be next week and it might be ten years but as long as you hold on to the gold long enough you'll get your money back.
 
2013-04-15 01:39:04 PM  
Silver and Platinum prizes are also following gold's free-fall. They're down about 6-8% today alone.
 
2013-04-15 01:39:09 PM  
Now tell me again why a gold-based currency would be a great idea.
 
2013-04-15 01:39:20 PM  

snowshovel: Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?


It's got all sorts of industrial uses, but the cost -even at the best of times- limits where it actually gets used.
 
2013-04-15 01:39:21 PM  

Great Janitor: If the government collapsed and two people come to me for my services as a roofer...


Make your mind up. Are you a janitor, or are you a roofer?

/Quit farking with my mind, man!!!
 
2013-04-15 01:39:42 PM  
Bah.  Gold is too heavy to easily transport, especially for caravans without wagons.  Plus it's too soft to be useful unless alloyed, and there are better metals for anything you'd make from the alloy.

If you buy leather, craft and sell garments and you'll make a mint off of most visitors.

Skip the gold and dig for malachite, tetrahedrite, galena, and hematite.  If you're lucky you'll also find some flux stone and lignite, and then you can laugh over dinner while the world burns (which will happen if a dragon drops by).

Also, word to the wise... plump helmets and rock nuts.
 
2013-04-15 01:40:51 PM  

ShawnDoc: But if gold prices crash, what will happen to all the reality TV shows following morons, drunks, and con-artists in Alaska and Canada on their quests to mine gold/bilk their investors?  Damn it, what will I do with my Friday nights?


Note to self:

Refresh before posting so you don't look unoriginal...
 
2013-04-15 01:41:09 PM  

xanadian: One thing I've learned as a contrarian is that if somebody's doing their damnedest to push a commodity, you can bet that commodity is due for an eventual and monumental collapse.


Seriously, this. If they were really expecting its value to rise, they'd be greedily buying up all they could, rather than spending tens of millions on national campaigns as well as advertising on Rush Limbaugh's radio show.
 
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