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(Yahoo)   AGh and AU no   (gma.yahoo.com) divider line 59
    More: Obvious, SoftBank, hyperinflation  
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13204 clicks; posted to Main » on 15 Apr 2013 at 1:02 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Archived thread
2013-04-15 11:11:40 AM
6 votes:
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.
2013-04-15 01:30:14 PM
5 votes:

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 11:22:56 AM
4 votes:

blatz514: Donnchadha: Wow. Chemistry fail, subby.

Maybe slubby thought since silver prices were falling, it was making the "ahhhhgh" sound.

*shrugs*


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

There's also the double capital letters -- Gold is Au (not AU) and Silver is Ag (not AG)
2013-04-15 01:15:39 PM
3 votes:
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.
2013-04-15 11:50:41 AM
3 votes:
I wonder how the bitcoiners, who said they were selling-off and investing in gold after last week after it's crash, feel.
2013-04-15 04:28:39 PM
2 votes:
i.imgur.com

The Republican party stopped being a political party long ago.

It is now a money-making venture for those rich/clever/unempathic enough to get in early before the bubble bursts.
2013-04-15 01:43:48 PM
2 votes:

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


Gold is a better electrical/heat conductor than copper. It's also utterly rust-proof, even better than silver (tarnish) and copper (patina). If the price drops low enough, you could (and should) put gold pipes in for cold water plumbing, and string up gold wire for Ethernet. And those fancy copper-core pots and pans would be better w/ gold, too. The reason people don't use gold for these things is b/c it costs too damn much. Similar for diamond. Diamond is an incredible heat-sink for small circuits, b/c it doesn't conduct electricity but sucks up excess heat so well. It's also the best grit substance for polishing. But its main use is still getting chicks to bang ugly dudes.
Bf+
2013-04-15 01:27:21 PM
2 votes:

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 01:26:51 PM
2 votes:
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 01:24:57 PM
2 votes:

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 01:12:36 PM
2 votes:
Did you know that disco record sales are up 400% for the year ending 1976?  If these trends continue...
2013-04-15 01:09:59 PM
2 votes:

SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!


No, no.  *Hannity and Beck* can't lose if *you* invest in gold.  Focus on what's important!
2013-04-15 01:09:06 PM
2 votes:
southofheaven.typepad.com
2013-04-15 11:44:55 AM
2 votes:
Here it is, your daily moment of zen:

i1212.photobucket.com
2013-04-15 11:22:13 AM
2 votes:
Sad trombone for the gold bugs.  Anyone who couldn't see this coming really needs to let a professional handle their investing.
2013-04-15 03:56:00 PM
1 votes:

DCSteve: TheDirtyNacho: DCSteve: Is anyone else buying in?  I bought IAU this afternoon.

I don't believe in the end of the world scenario (which I why I can own the ETF) but I do believe there will be some problems arising still to come since nearly everyone is printing money.

We'll see.  Besides it's fun to buy things when blood is in the streets.  I bought Japan equity after the quake and U.S. equity after the U.S. was downgraded.  Both turned out pretty well.


While it's generally a good idea to buy when the market is at its lowest... the key word is 'lowest'.  Gold has a ways to go.  Also being a mined commodity throws some additional "interesting" effects in.

I don't know when the lowest will come - may have already.  No real way to price gold and it could go way down from here, I agree.  I just thought it was an opportunity to buy in.  "has a ways to go" I'm interested to hear what you think its fair value is and how you get there.


Just be careful - one rule I learned from dabbling in forex, trading on news is a dangerous game to play. Something like this though is a great sale price on hard commodities that will eventually go up. Just make sure you don't buy everything on one day - buy smaller lots periodically over the next few days/weeks (play it by ear) to spread out losses and gains.

I'll just buy some more silver coins to add to the chest (not worried about current price fluctuations, that's not why I stack bullion). This is all longterm game for me - one day I'll have a nice chest full of silver and gold, completely hidden from the eyes of the IRS. Yum.

As for price fluctuations - to quote JP Morgan - "the markets will fluctuate."
2013-04-15 02:53:44 PM
1 votes:
www.thebubblebubble.com
2013-04-15 02:49:02 PM
1 votes:

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


Because they're not really flooding the market. And even without them gold has been long overdue for a nice price correction. I'm waiting to hear how many people are making out like bandits shorting gold. Indeed if you get enough people shorting it you could in theory at least cause the price to start tumbling that way.
2013-04-15 02:35:45 PM
1 votes:
Ha!

i.imgur.com
2013-04-15 02:28:32 PM
1 votes:

Rapmaster2000: Smackledorfer: Emeraldstar: Back in the early 1990s when gold was about $6 an ounce my husband bought 50 LBS of silver. He sold it not too long back when silver was selling at $32.50 an ounce. He says he is waiting for silver to collapse again , so he can buy another 50 to 100lbs of the stuff and sit on it until its worth rises again. These things work in cycles. The patient will make money. The dumb will cry.

The whole 'im smrt ur dumb' bit means a lot more when it isn't "my husband is smarter than you".

Just for future bragging.

That and 9% year-over-year while nice is still not exactly a coup.  I'd be more impressed if you did something like put your money into Pier 1 in 2009 and made 20200% off it by 2013.

That is not a typo.


Hindsight is always 20200
2013-04-15 02:09:41 PM
1 votes:

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

Yeah, it's got some uses in a high tech world, but not proportionate to its (inflated by doomspeakers) price.  Your computer's CPU probably has some gold in it, and I think there are some gold bits in catalytic converters in your car, but gold only has intrinsic value in a non-doomsday scenario where there's enough of society to actually use it.

The fun part will be when all the gold hoarders, post-doomsday, try to trade the gold for food, and get refused because the other party doesn't need gold for anything.  Then the hoarder kills them and claims, "I offered fair trade, but they were determined to rob me" to anyone listening.


The amount of gold in a CPU (or even a whole computer) nowadays is laughably tiny. They've come up with other interconnect (manmade) materials. They use Platinum & Palladium (small amounts) in catalytic converters, not gold, if I remember my commodities with industrial uses properly.

This is kind of like diamonds being a great heat conductor. Sure, diamonds are good (heck great) at being heatsink material, but you can get artificial stuff cheaper now (if I remember properly) so why mine for it? Heck, the copies have the diamond merchants worried enough to spend tons of money identifying manmade diamonds (to protect their monopoly).

Gold is headed down the same path, but for different reasons. Industrially, it's of limited utility. For some strange reason people like the stuff, so they value it artificially high for it's uses. The current pricing is doing nothing more than driving it further out of utility and hastening manmade replacements.

Incidentally, post-doomsday: Spices folks, in particular pepper. Gold bugs seem to forget that (for centuries) pepper was priced ounce for ounce with gold. You can grow more pepper if you're smart. Let's see that gold bug try to grow more gold. Not to mention I've heard that gold flakes don't really improve the flavor of food in a world with little (or no) refrigeration.
2013-04-15 02:07:24 PM
1 votes:

Magorn: Interestingly enough, aside from accidental losses, such as the sinking of ships or buried hordes whose locations were forgotten, the supply of gold in the world, in the world has been considered to have on increased throughout history.  The Gold mined in Roman mines in the hundreds BC is still around, and can be melted an reused, and all the new stuff we pull up everyday only adds to the supply.   Until recently, that is,  the use of gold in electronics has actually caused minor destruction in the world gold supply as the gold used in these applications is considered "consumed" because the amounts individually are too small to allow for cost-effective recovery of it when the device is no longer used.


I outsmarted everyone and bought Monster cables.
2013-04-15 02:07:15 PM
1 votes:

mwfark: well, that sucks that gold tanked today, but for those of you strangely dancing in the streets at the misfortune of others and patting yourselves on the back for not investing, I will note that even after today's steep decline I'm still in decent positive territory on my gold ETF investment.


25.media.tumblr.com
2013-04-15 02:04:22 PM
1 votes:
Back in the early 1990s when gold was about $6 an ounce my husband bought 50 LBS of silver. He sold it not too long back when silver was selling at $32.50 an ounce. He says he is waiting for silver to collapse again , so he can buy another 50 to 100lbs of the stuff and sit on it until its worth rises again. These things work in cycles. The patient will make money. The dumb will cry.
2013-04-15 02:02:59 PM
1 votes:

hdhale: hiker9999: SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!

No, no.  *Hannity and Beck* can't lose if *you* invest in gold.  Focus on what's important!

You say that like the dollar is a better investment.

[turklishtefl.com image 386x350]

/actually I've been expecting the bottom to fall out from the gold market for a while, just never expected it to take this long
//if you actually listened to Beck, you buy gold mostly because when paper currency is good for nothing but wiping your ass, gold is still valuable, which is true


When people arbitrarily assign value to paper money, that's different from when they arbitrarily assign value to certain rocks because the rocks are pretty.
2013-04-15 01:55:19 PM
1 votes:

hdhale: //if you actually listened to Beck, you buy gold mostly because when paper currency is good for nothing but wiping your ass, gold is still valuable, which is true


For those people who can eat and drink gold, sure.
2013-04-15 01:55:04 PM
1 votes:
Crude oil futures have tumbled on global markets, down to less than $89 for West Texas crude, the lowest price since December, 2012.

So...gas prices are going up, then?
2013-04-15 01:53:49 PM
1 votes:

hiker9999: SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!

No, no.  *Hannity and Beck* can't lose if *you* invest in gold.  Focus on what's important!


You say that like the dollar is a better investment.

turklishtefl.com

/actually I've been expecting the bottom to fall out from the gold market for a while, just never expected it to take this long
//if you actually listened to Beck, you buy gold mostly because when paper currency is good for nothing but wiping your ass, gold is still valuable, which is true
2013-04-15 01:49:49 PM
1 votes:

Nonrepeating Rotating Binary: But what if I offered you a chicken made of gold!


And if you lose the Devil gets your soul!

[fiddle solo]
2013-04-15 01:45:37 PM
1 votes:

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


Yeah, it's got some uses in a high tech world, but not proportionate to its (inflated by doomspeakers) price.  Your computer's CPU probably has some gold in it, and I think there are some gold bits in catalytic converters in your car, but gold only has intrinsic value in a non-doomsday scenario where there's enough of society to actually use it.

The fun part will be when all the gold hoarders, post-doomsday, try to trade the gold for food, and get refused because the other party doesn't need gold for anything.  Then the hoarder kills them and claims, "I offered fair trade, but they were determined to rob me" to anyone listening.
2013-04-15 01:39:20 PM
1 votes:

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 01:39:09 PM
1 votes:
Now tell me again why a gold-based currency would be a great idea.
2013-04-15 01:38:17 PM
1 votes:
But I was assured by multiple commercials that the value of gold NEVER GOES DOWN!
2013-04-15 01:38:13 PM
1 votes:

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 01:37:22 PM
1 votes:

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 01:34:47 PM
1 votes:
Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?
2013-04-15 01:34:32 PM
1 votes:

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 01:32:41 PM
1 votes:

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 01:31:51 PM
1 votes:
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 01:31:09 PM
1 votes:
this is what happens when jackasses decide that doing fractional reserve lending on gold is a good idea
2013-04-15 01:30:54 PM
1 votes:
Couldn't be happening to nicer, more paranoid assholes.
2013-04-15 01:29:49 PM
1 votes:

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 01:21:53 PM
1 votes:
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 01:21:40 PM
1 votes:
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 01:20:01 PM
1 votes:
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 01:18:38 PM
1 votes:
i.qkme.me
2013-04-15 01:17:52 PM
1 votes:

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.
2013-04-15 01:16:15 PM
1 votes:

GAT_00: Hideously overpriced market based largely on inflated perceptions and not real value crashes.  Shocking.


No, the DJIA isn't crashing quite yet.
2013-04-15 01:11:36 PM
1 votes:
While my collector plates keep going up and up.
2013-04-15 01:10:15 PM
1 votes:
www.floodwerks.com
2013-04-15 01:10:12 PM
1 votes:
but but but...

I was told...

DAMMIT!!!

mjcdn.motherjones.com
2013-04-15 01:03:41 PM
1 votes:

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

K


i105.photobucket.com
2013-04-15 12:43:16 PM
1 votes:
Ag, Au no. Cu later...
2013-04-15 12:30:17 PM
1 votes:

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


25.media.tumblr.com
2013-04-15 12:12:38 PM
1 votes:
Here's an interesting fark thread around gold's peak
Link
2013-04-15 11:30:13 AM
1 votes:
All is not well. Someone is dumping a large amount of gold into the market and people who have no clue are panicking.

Supply and Demand, how do they work?
2013-04-15 11:19:42 AM
1 votes:
but Hannity and Beck told me i couldn't lose investing in gold!
2013-04-15 11:12:31 AM
1 votes:
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.
2013-04-15 11:05:41 AM
1 votes:
Wow. Chemistry fail, subby.
 
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