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this is real talk tho. ppl might wanna listen. my cousin had been saying this for the last 2-3 years. silver is also a good route to go and it is a littlecheaper.
2009: BUY GOLD. NOW.
- Thread in 'General' Thread starter Started by dey know yayo,
- Start date
springfieldxd
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dirty?
ktown?
somebody please refute or validate this claim so i can get my bars up...
ktown?
somebody please refute or validate this claim so i can get my bars up...
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up to you to make your own decisions.
i will say, anyone who totally refutes the article and keeps his savings in 100% usd is not very bright.
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ben, what do you think?
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http://seekingalpha.com/article/112785-don-t-miss-the-coming-gold-bullhttp://seekingalpha.com/a...-the-coming-gold-bullntil th
the article is up on seekingalpha.
springfieldxd- the fact that you put dirty or ben baller on a higher pedestal on financial matters than me is in itself quite alarming...
renkkxedik- are you kidding, obama has already agreed to infrastructure spending not seen since FDR's days. even without all of his spending, paying offour external debt is going to be through printing money, which needs to be soaked up somehow.
da703trailblazer- what are you talking about? that's just not true.
infamousod- i am in the process of purchasing abou $300,000 in gold bullion. i have never owned gold before. i saw this economic collapse coming and ididn't react by buying gold at all, until the time seemed right through technical analysis and the state of things. it is finally time to buy gold.
digital022- schiff is good but he thinks we will actually get hyperinflation and that oil will go back to summer 08 levels. he doesn't understand thepolitical game theory behindthe Fed's and other central banks' actions. creditor nations aren't stupid enough to spark an immediate run on thedollar and global economic contraction has led to demand destruction in industrial commodities. but his acknowledgement of our external debt and trade deficitis very right and though I don't think things will get quite as bad as he predicts, they will certainly get bad enough to ruin people who leave theirsavings in USD.
rightguard- you're telling me your savings account is under $800? when i say convert everything out of dollars, i mean EVERYTHING.
the article is up on seekingalpha.
springfieldxd- the fact that you put dirty or ben baller on a higher pedestal on financial matters than me is in itself quite alarming...
renkkxedik- are you kidding, obama has already agreed to infrastructure spending not seen since FDR's days. even without all of his spending, paying offour external debt is going to be through printing money, which needs to be soaked up somehow.
da703trailblazer- what are you talking about? that's just not true.
infamousod- i am in the process of purchasing abou $300,000 in gold bullion. i have never owned gold before. i saw this economic collapse coming and ididn't react by buying gold at all, until the time seemed right through technical analysis and the state of things. it is finally time to buy gold.
digital022- schiff is good but he thinks we will actually get hyperinflation and that oil will go back to summer 08 levels. he doesn't understand thepolitical game theory behindthe Fed's and other central banks' actions. creditor nations aren't stupid enough to spark an immediate run on thedollar and global economic contraction has led to demand destruction in industrial commodities. but his acknowledgement of our external debt and trade deficitis very right and though I don't think things will get quite as bad as he predicts, they will certainly get bad enough to ruin people who leave theirsavings in USD.
rightguard- you're telling me your savings account is under $800? when i say convert everything out of dollars, i mean EVERYTHING.
springfieldxd
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Why do you need to listen to other nt'ers in order to make a decision?
because gold and silver is an area of investing that I know nothing about, and I know that there are other NTers that are currently in the jewelery game anddeal with this market regularly.
so far, I have lost money on all of my stocks, and the only thing still making intrest is my IRA.
i'm not gonna run out and buy gold right this minute, but i am researching at the moment, but i'm also thinking that if it is a sound investment, assoon as Jim Kramer mentions it, it's not gonna be such a hot tip.
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interesting i might have to buy gold and keep less money in the bank
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because gold and silver is an area of investing that I know nothing about, and I know that there are other NTers that are currently in the jewelery game and deal with this market regularly.
so far, I have lost money on all of my stocks, and the only thing still making intrest is my IRA.
i'm not gonna run out and buy gold right this minute, but i am researching at the moment, but i'm also thinking that if it is a sound investment, as soon as Jim Kramer mentions it, it's not gonna be such a hot tip.
i'm up over $600K in the financial markets this year, I think I qualify for advice a littttle more than jewellers.
dendanskesimon
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^^^wanna send me some? haha
yeah buying gols is a good idea, but Im only 17 so for me all this investing stuff is a no go. I just have my money in CDs from before interest rates crashedso there earning like 6% if I remember correctly so thats OK
yeah buying gols is a good idea, but Im only 17 so for me all this investing stuff is a no go. I just have my money in CDs from before interest rates crashedso there earning like 6% if I remember correctly so thats OK
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6% interest is not gonna come even close to beating inflation. you are going to be losing wealth in real terms. i just turned 19 myself, never too young.
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where the hell do you buy gold anyway? like is there an official place?
just curious...
just curious...
springfieldxd
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i'm up over $600K in the financial markets this year, I think I qualify for advice a littttle more than jewellers.
< gucci> WELL DAMN < /gucci>
did a little research, and found an article on fool.com with some good points.
[h1]700 Billion Reasons to Own Some Gold[/h1]
By Christopher Barker
October 2, 2008 | Comments (4)
Recs
[h3]37[/h3]
[h4]Special Offer![/h4]
Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.
To Egyptian Pharaohs, it brought immortality in the afterlife. For Roman Caesars, it facilitated trade throughout the known world. To the Incas of Peru, gold was the sweat of the sun, while to their Spanish invaders it was the prize of brutal conquest.
Amid this financial crisis of historic proportions, gold is once again gaining favor as a tangible store of honest value. Though often maligned as an outdated relic, gold has tripled in value since 2001. Meanwhile, the greenback has declined 33% against a basket of foreign currencies.
For those of you wondering what that has to do with your future, I have a list a mile long of reasons to consider having at least some gold exposure. For the purposes of this article, I've pared the list down to five:
In addition, analysts from Barclays Capital and GFMS believe that gold will reach new highs within the next six months, while Superfund Financial's Aaron Smith expects to see $1,500 gold over the next two to three years.
- Inflation looms ever larger. $700 billion is a ridiculously large sum. But while we've been busy debating the ethical quagmire of conditional capitalism, the Federal Reserve announced a $630 billion bump to its currency injections into the financial system on Monday. Combined with operations earlier in September, that brings the total announced just in the past month to more than $1 trillion. Even without the help of Treasury's $700 billion lifeline, the Fed is placing dollars into circulation at an alarming rate, which many analysts believe is decidedly dollar-negative and predictive of a continued rise in the rate of inflation. As troubled as I am about these policies, there has been a clear negative correlation over time between the value of the U.S. dollar and the price of gold in dollars. For this reason, I view every subsequent commitment of dollars by the billions as a billion more reasons to own gold.
- Physical gold is becoming more scarce. The combination of renewed investor demand and a global mining industry facing countless challenges to production has altered the supply and demand dynamic to favor the long-term gold investor. For starters, we have bullion ETFs taking massive quantities of gold bullion off the market. The physical holdings of the SPDR Gold Shares (NYSE: GLD) ETF soared to a new record above 755 tonnes of gold at the end of September. That's more gold than China held in reserve as of June. Furthermore, the Central Fund of Canada (AMEX: CEF), a closed-end fund that owns gold and silver, issued another non-dilutive share offering in September to purchase more bullion. In recent weeks, this Fool watched with interest as a single major purchase wiped out the supply of the world's largest gold refiner, the futures market in Vietnam lacked an adequate supply to redeem contracts for bullion, and the U.S. Mint ran out of the popular gold buffalo bullion coin. Demand is growing, and the above-ground supply of gold appears to be shrinking fast.
- Banks are looking to build gold reserves. Across the globe, banking industry experts are forecasting major gold purchases by central banks and private institutions alike. The manager of Austria's central bank believes that the banks of nations with smaller gold reserves could be considering adding gold to protect themselves against currency fluctuations. China may be starting the process already. Jeremy Charles of HSBC believes institutional investors such as private banks will want to reestablish gold holdings as well.
- Guess who's long on the TOCOM? Serious gold investors love to watch the Tokyo Commodities Exchange (TOCOM). The TOCOM lists the names of the entities conducting trades, permitting gold bugs to track the shifts in long and short positions for major traders like Goldman Sachs (NYSE: GS). Reversing a long-standing net short position, a Japanese subsidiary of Goldman shifted to a net long this week.
- Insiders agree: gold is going much higher. From Goldcorp (NYSE: GG) founder Rob McEwen, to Fronteer Development Group (AMEX: FRG) CEO Mark O'Dea, mining industry executives are increasingly comfortable spelling out their long-term price targets for gold. Executives from Gold Fields (NYSE: GFI) and Barrick Gold (NYSE: ABX) have estimated that the all-in cost of mining gold from the ground amounts to about $800 per ounce for the industry, suggesting the long-term price floor continues to build upward.
Of course, not everyone is sold on gold. Goldman Sachs recommended shorting gold as one of its top ten trades for 2008, predicting the metal would plummet to the $600-$650 range. I certainly don't think we'll see those levels, but judging by the volatile swings in my CAPS score, gold mining equities admittedly haven't provided much safety so far this year.
Nonetheless, as Goldman shifts from short to long on the TOCOM, and Washington tries to smother a financial fire with cash kindling, I still believe both bullion proxies and well-chosen gold miners will reaffirm gold's relevance as a tangible "safe haven" asset.
you have sparked a new financial pursuit, mr. yayo, and your opinion holds weight in my culmination of facts, provided you speak no tales ofduckery.
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Yayo, I'm referring to gold's peak at about 930 around September or so and it's decline to about 700. At the same time the USD-Yen was declining itwent from 100 to the high 90s to the mid to low 90s although I'm sure that changes the perspective.
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another possible good investment is the chinese yuan/renminmbi and indian rupee, both of which are manipulated by their central banks to be very artificiallyundervalued and may be allowed to go up as foreign nations decouple from america's economy. this will kill china's and india's economies, ofcourse, but is a good possible investment.
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So where can you buy it from?
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... says the dude with the obama avatar smh.
www.onlygold.com and the perth mint are good places to buy bullion.
www.onlygold.com and the perth mint are good places to buy bullion.
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what kind of investing did you do this year that made you 600K? just wonderin cause i didnt invest a penny this year and want to get into it sooner than later
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made money this spring buying SKF and put options in a lot of financials
made money this summer buying call options and stock in a lot of commodity stocks like ferts, oil & gases, agricultures
made money this fall buying huuuge put option positions in all the bubble stocks and the indices as a whole
made money this summer buying call options and stock in a lot of commodity stocks like ferts, oil & gases, agricultures
made money this fall buying huuuge put option positions in all the bubble stocks and the indices as a whole
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about equal now, used to be a lot more in options but now liquidity is an issue and also i don't need to speculate in as high-risk securities as before, imdone "building capital" and have started actually trading.
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http://Dey-Know-Yayo.niketalk.yuku.com
Dey Know Yayo
awesome insight on gold, which i've been looking to get into this past year.
do you have any thoughts on the following?
DGP (Powershares DB Gold Double Long Exchange Traded Note)
Everbank's MarketSafe 5 Year Gold Bullion CD
CELTF.PK (Centamin Egypt)
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shapeshiftah- DGP is a good choice and so is the bullion CD (if it's backed by actual bullion- make sure this is a solvent institution you're gettingit from), but i'd defintely suggest staying away from pennystocks like CELTF. there's plenty of much better and safer gold stocks out there.
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They say this stuff every year....
