2009: BUY GOLD. NOW.

[bws foot soldier]

20 franc

plat plate

Chinese panda

7 kilos

 

[nicefro]

Originally Posted by 430AM

What's the point of buying gold to resell at a higher price if the dollar ain't gonna be worth anything anyway???

Gold will always be worth something/ safe investment.

 

[wawaweewa]

Originally Posted by Dey Know Yayo

lazyj10- when i buy options, i ignore the strike price. i speculate on big short term movements coming from long term chart pattern building, so i rarely hold options more than like a week or so. as such, i buy options that are priced between 0.70-1.50, becasue the contract's actual price prices in in strike price, current price, time premium, and implied volatility, on the SHORT term. and yea, i have HUUUGE positions in SRS calls, strike prices 70 to 100.

i'm tryna get to a million by spring break.

Do you trade on margin often?

 

[mangudai954]

Yea im trippin it was 1 gram. I was like 0_o

You guys mention purchasing power. For those buying/saving gold are you doing it for the purpose of using it to actually purchase things or to help maintainyour wealth when/if the dollar falls?

 

[benballer]

Originally Posted by wawaweewa

Originally Posted by BENBALLER

gold is not weed or food brodie....
its actually 31.1 grams of gold per oz.

not that its a big difference, but still a difference when you're dealing with major weight

Good to know.
Troy Ounce. Forgot about that.
Gotcha.

Never dealt with buying per gram.

Ben,
What do Jewelers usually use for solid pieces? 22k ,18k and 14k gold?
How is the price calculated for that type of gold? Just by percentage of gold relative to the .999 price + the value of the alloy?
just curious.

depends on what kind of budgets you are working with.... for the rappers, 10k gold is most popular... for those who know what time it is and are ballin, 14k ismost common.... sounds racist, but most asians and middle easterners and europeans I've dealt with or people not in the music business, they demand 18k.

but yes, it's the percentage of gold prices .416, .585, .750, .999(if applicable) and then the price of labor, etc and whatever I want to put on top ofthat for my premium for using my business's name and our work... then there's mold charges, etc etc....

I bought a few of those ounces before and then I got kilo's in my myspace.....

p.s. slumdog millionaire, the one year bet is lame.... and wasn't even a thought to me at all. the 2010 prediction is what I've always said wasretarded and about as stupid as that girl predictions about sarah palin and volcano's and blah blah blah in that other thread. I never mentioned anythingelse except the $10,000 an oz.

 

[rexanglorum]

Gold is a good investment but it also involves plenty of manipulation by Central Banks. I think Gold will trade in the $1300-$1500 range towards the latter half of 2009.
I doubt it'll hit 10k though even in 3-5 years time. Gold hitting 10k means a complete collapse of the global monetary system; not only the USD.

In a mad max world if you own a lot of Gold you better own a #$#*@+@% of military grade high explosives


I co-sign to that.


Gold is a very good hedge against inflation but it is not a very good long term investment for younger people who are looking to grow their wealth. If you areold and have a big nest egg, it would be very wise to convert a lot of your dollar denominated wealth into gold in case we see double digit or, God forbid,triple digit or greater inflation. Gold is also good if you are a professional investor, who is investing other people's money or a small part of your ownmoney, and you are betting on the marginal changes in price over the next couple of weeks or months or years.

Outside of those groups, gold is less useful. For the average young person, we have time and should take advantage of that time by investing in mutual fundsthat are on the higher side for risk because even if we lose money in the short run, you will make money over the next decade or two or more and the rate ofreturn will be much better than what you would get by investing in gold for a similar period of time.

I hope that a silver lining from 2008 can be that people will learn that you want an investment strategy and not a series of gambles because just the lastdecades or so has shown that nothing is a sure thing and tech stocks, real estate, gold and every other assets has upsides and downsides in terms of risks andreturns and all investors, professionals and people just looking to build that nest egg, should have a mix and never go to hard into a particular assets notmatter how attractive it may seem at the moment. In finance there is never a truly silver or in this case, gold bullet.

 

[patmc13]

those pics are crazy...

 

[lurkin2long]

Lmao did Ben call this dude slumdog millionaire?

BWS what exactly does your boy do?

 

[reigndrop]

Originally Posted by Dey Know Yayo

lazyj10- when i buy options, i ignore the strike price. i speculate on big short term movements coming from long term chart pattern building, so i rarely hold options more than like a week or so. as such, i buy options that are priced between 0.70-1.50, becasue the contract's actual price prices in in strike price, current price, time premium, and implied volatility, on the SHORT term. and yea, i have HUUUGE positions in SRS calls, strike prices 70 to 100.

i'm tryna get to a million by spring break.

When do your calls expire? I bought mine early last month expiring in April.

 

[dey know yayo]

i'll bet u bout the 10k too, i just wanted a shorter term bet so i wouldnt have to wait so long to collect some cash from the almighty ben baller.

wawaweewa- i use margin on all of my equity purchases, but not my derivatives plays.

430AM- the depreciation rate of the dollar is called inflation. gold will rise not only in nominal terms, but real terms. it will kill inflation.

lazyj10- yeah all of my option purchases are meticulously timed, which requires technical analysis. i don't look at implied volatility or any otheroption variable, except for the option's actual price. it prices everything in, for the short term.

 

[finnns2003]

some nice pics in here. that one bar worth 400k is ridic... and to people asking about cashing in gold, who said you have to trade in for u.s. $?

 

[430AM]

Originally Posted by Dey Know Yayo


i'll bet u bout the 10k too, i just wanted a shorter term bet so i wouldnt have to wait so long to collect some cash from the almighty ben baller.

wawaweewa- i use margin on all of my equity purchases, but not my derivatives plays.

430AM- the depreciation rate of the dollar is called inflation. gold will rise not only in nominal terms, but real terms. it will kill inflation.

lazyj10- yeah all of my option purchases are meticulously timed, which requires technical analysis. i don't look at implied volatility or any other option variable, except for the option's actual price. it prices everything in, for the short term.

Good looks on that... Yeah I think I'm gonna get my first zip of gold sometime this week.

 

[tecca nena]

Eric Bolling From "happy hour" on Fox business suggested that we buy platinum and short gold. Im not sure if his predictions were more short termthen the Deyknowyayo's but Im interested to see where things begin to turn in the near future

 

[nikeflightposite]

May be a little off topic, but when will the economy get back to where it used to be?

 

[dey know yayo]

nikefligtposite-- the 1929 market highs were not reached again until 1956. there's an analagous example.

 

[da703trailblaza]

Why's the dollar gaining ground? My FXY has been getting slaughtered lately

 

[dey know yayo]

first of all, the dollar just had a historic sell off so its very oversold. second, market's about to head lower, which means deleveraging and dollarstrength. third, your ETF tracks the japanese yen, which isn't that fundamentally strong either.

 

[nicefro]

UP!

 

[nicefro]

srs and skf down. bummer

 

[andre3001]

DYK,

Apologies if this has been asked/ answered earlier. I read most of this but not all of it. Good looks by the way. Very informative obviously.

If I am going to buy gold bullion anything one should know about it? I was on USAGold.com and it looks like I can get a 10 oz piece for a little over 9k. Obviously this is much cheaper then buying the gold in 1 oz coins. They are selling the 1 oz coins at $956 at close yesterday.. When do you feel is a goodtime (price)? Do you recommend any kind of gold and why? Does the kind of gold you purchase matter in the long run?

Why gold and not platinum?

Thanks in advance.

 

[nicefro]

srs down 12%
skf down 3.5%

df

 

[lazyj10]

I wouldn't be too worried about their performance today.

 

[dey know yayo]

Volume returned at the end of the day, and it was all selling pressure. Market is getting ready to roll over. SKF and SRS are huge movers, you gotta take the10% down days with the 25% up days.

 

[nicefro]

I guess.

 

[davidisgodly]

This is just like the Cassidy battle vs. Murdamook. Young dude wanna face the money but money doesn't need slummillionaires cash and now hes kinda salty.

Oh well, he wouldn't even take the bet if it was for your life savings. Ben does not get additional press for this man.