2009: BUY GOLD. NOW.

[moemza]

Yeah, you're about 4-5 years too late. In 2004, Gold was at about 350, now it's at about 900.

If your looking to make money, Gold is NOT a good investment.
Gold is only a good commodity if your looking to maintain your saving's purchasing power. The dollar will continue to slide, so if you have some good moneyheld up somewhere, convert it to something quickly. Asian currency or Asian stocks seems to be a good way to go these days.
Another good investment is cheap property right now, especially if you plan on living in the U.S. the rest of your life.

But whatever you do, GET RID OF YOUR DOLLAR SAVINGS!

 

[dey know yayo]

gold is a great investment, i have no clue what you're talking about.

in 2004, gold was at $350. in 1934, it was $20. in 2012 it will be $10,000. i don't know how you can say i'm "late"-- the unwinding of hte usdebt bubble has not occurred yet and is just about to. the last 4-5 years in gold have been little compared to whats about to go down.

 

[dey know yayo]

ben baller, i'll bet u 50K youre wrong and i'm right. accept my offer.

i make a living speculating in stocks, options, currencies, and other financial securities. i follow this religiously as well, but not just gold prices butall the economic fundamentals behind them.

 

[benballer]

this is a big part of my livelihood, so I watch it religiously and that is a dumb article.
I feel that it'll peak a lil and then crash hard. gold hit over $1,000 last year and then dumped.
it's moving up a little bit, but I doubt it will hit that high. many gold factories and manufacturers have gone out of business this past year because ofthe economy and the gold prices being so high, so now that the economy is even much worse than before, they'll be wiped out.

$10,000 by 2012? lol

 

[dey know yayo]

ps it dumped mainly because of the fed's ESF transactions i mentioned and global deleveraging.

 

[lazyj10]

I still can't believe you just learned all this from wiki and the net....not saying you didn't, just sort of impressive.

 

[dey know yayo]

oh and one more thing ben baller, if you're so bearish on gold, mind selling me some at discounted prices if i buy wholesale?

 

[nicefro]

Originally Posted by LazyJ10

I still can't believe you just learned all this from wiki and the net....not saying you didn't, just sort of impressive.

Word, and I'm sitting here trying to dig myself out of a hole

atmyself.

 

[thagreatj]

Originally Posted by LazyJ10

Do you mess more with options or stock?

What are "options?"
never heard of this

 

[dey know yayo]

google/wikipedia ftw. learn it yourself.

 

[dayman]

accept his offer benballer....this is getting interesting

 

[lazyj10]

Lots to learn still, but the generic is:

Options are contracts, but not obligations, to buy stock at a date in the future.

Meaning, the contract itself trades...

You can have calls/puts on them.

Originally created as a hedge strategy, I believe.

Volatile, but less capital required initially.

 

[moemza]

Originally Posted by Dey Know Yayo

gold is a great investment, i have no clue what you're talking about.

in 2004, gold was at $350. in 1934, it was $20. in 2012 it will be $10,000. i don't know how you can say i'm "late"-- the unwinding of hte us debt bubble has not occurred yet and is just about to. the last 4-5 years in gold have been little compared to whats about to go down.

Gold is a safe investment, NOT great.

More importantly, gold is 'great' if your trying to maintain the purchasing power of your savings.

As for the figures you gave, you have to realize (and save yourself) that it's all based on the inflating dollar. Compare the price of gold to any othercommodity, mineral, or resource investment, and you'll see the price of gold has stayed the same. For example, the if you bought milk or crude oil usinggold 50 years ago, it'll take about the same amount of gold to buy milk or crude oil today in 2009.

AGAIN, if you want to save your DOLLAR savings, then gold is a extremely SAFE investment.

 

[fifthname]

Dey Know Yayo spittin knowledge

 

[dey know yayo]

yes, i realize gold's price increase has been in nominal terms. i'm saying there is going to be a surge in the REAL price of gold, not just nominal.gold is going to KILL oil and other commodities in coming years.

 

[dc sounds]

i would be more incline to hedge against monetary collapse through a property acquisition. also, if you are predicting hyperinflation to be so bad that gold =$10k/oz in 2 years, financing your asset investment, whether it be gold, a home, or foreign currency, through acquiring fixed rate debt rightnow would be a good thing to do.

 

[dirtylicious]

you usually give good info for the speculator...but I can't side with you on this one.

10K in 2012?

 

[tmukg21]

Originally Posted by jehims

accept his offer benballer....this is getting interesting

Dey know....$200 to $10000, in 3years

....using gold as a standard theprices of basic supplies (milk,bread,etc) will be really high

 

[springfieldxd]

regardless of whether it hits 10k by 2012, it's still a more sound investment than letting your money sit in a savings account (i believe).

 

[hella handsome]

ayo ben, where you at with that 50k

this is getting interesting.
but a lot of knowledge has been dropped. real word.

 

[dey know yayo]

property acquisition? in the middle of a real estate bubble burst? real estate isn't even close to bottoming.

dirtylicious, remember gold was $100/oz in 1976 and was $700/oz four years later. that was a much smaller inflationary crisis than what we are facing now.

 

[dey know yayo]

tmukg- gold is around 850/oz right now and i expect 10,000/oz by 2012. where is your 200 to 10,000 in one year figure coming from?

 

[wawaweewa]

Originally Posted by LazyJ10

Lots to learn still, but the generic is:

Options are contracts, but not obligations, to buy stock at a date in the future.

Meaning, the contract itself trades...

You can have calls/puts on them.

Originally created as a hedge strategy, I believe.

Volatile, but less capital required initially.

Options trading has been lucrative the past few months with all of the volatility.
As soon as I moved out of equities the 1st of September I just went into options.

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 latterhalf 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.

 

[tmukg21]

Originally Posted by Dey Know Yayo

tmukg- gold is around 850/oz right now and i expect 10,000/oz by 2012. where is your 200 to 10,000 in one year figure coming from?

typo

 

[dey know yayo]

the manipulation is the reason it's so low right now and the manipulation is stopping as the Fed starts the devaluation of the USD against gold to prop upthe economy and set up a new monetary order globally. the backwardation of gold this month is evidence of the fact that the naked shorts are no longer going tobe supported by the Fed and private banks.

i expect a reversion to convertibility within 5-10 years, it is an economic imperative.