Do you own gold?

[westwall]

if gold was such a great investment they would not have to advertise it 24/7 on every media outlet. Someone is making money from gold and its not the suckers buying it.

You mean like the "suckers" in China and India who are buying all the Gold they can?

You REALLY don't know what's happening to the US Dollar do you? Google "Currency War" and get up to speed.

Don't pretend to preach to me little boy. I could probably buy and sell you with one weeks income.

I am quite aware of the currency issues worldwide. Thanks to obama and his terrible fiscal policies the US dollar has lost value against most world currencies.

If you think gold is the answer, buy it. pay some broker a commission and put it in your little safe.

It only has value if you can sell it to someone else for some kind of currency. If all currencies lose their value who will you sell it to?

or are you so naive you think you can take your gold to the grocery store and buy food?

You really are clueless aren't you? Gold and silver dealers make less of a percentage than almost any other legit dealers out there. They make less than 5% on most
transactions. Pawn shops are the exception to that rule but as anybody with a brain knows they are msotly run by crooks.

And yes dear child, you CAN go down to any store and buy stuff with gold and silver. It happens here in my state all the time.

 

[OohPooPahDoo]

Oh really, so if everyone called in the contracts, they would receive their orders? Are you seriously saying this?

What if everyone decided to break into your house and steal you gold, would it be worth anything to you after that?

I mean, as long as we're considering all possible hypo-theticals no matter how improbable.


There's no need to actually receive it through the contract. I can wait until my local dealer gets his next shipment in, settle the contract, and then buy the gold from the dealer.

Uhm, you wouldn't be able to find it, that's my answer.

You're willing to die for that? Doesn't do you much good if you're dead, does it?

And if you broke into my house, I would go george zimmerman on yo ass.

That doesn't even make sense. Zimmerman didn't shoot someone for breaking into his house.

Besides if I wanted to steal your gold I'd probably just wait till you weren't home. Your guns don't do you much good then, do they? I'll take them, too.

Improbable? it will happen in China within the next two years.But yea, of course it won't happen in the US
China?s gold demand to beat supply by 2015 | MINING.com

So local gold dealers are out where you live as well, wait a second, first you said not to buy physical gold, than said buy etfs, now you are saying to wait to buy physical. You be trollin?

If your local dealer doesn't have it there are multiple ways to expose yourself to gold.

 

[OohPooPahDoo]

Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.

GO ahead! Buy it! There were a lot of "buying opportunities" in fall of 1929. They only took 15 years or so to break even. Lot of "buying opportunities" on the downsides of the wild swings petroleum has had in the past few years - also a lot of opportunities to time it wrong and get fucked.

That's the thing about bubbles. Its not about whether you go long or short but whether or not you time them right. We all know they are going to burst - question is when.

Except the price of gold is not a bubble. It is maintaining value based on inflation.

No it isn't. Gold dropped like 8% in one DAY - are you telling me the value of the dollar increases 8% the same day?

A gold coin will buy just as good a suit as it would back in 1929.

First off, no it won't. They don't make suits like they used to, you won't find one that durable anymore.

Second off - I don't need to buy a suit in 1929, nor do I have money to invest in gold in 1929. So you don't really have a point. Especially considering the value of the dollar was pegged to gold for almost half the time since 1929.

You see dear child..it's not that the price of gold has gone up....the dollar has been devalued.

The dollar has dropped in value less than 10% since 2009 yet the price of gold was doubled at one point. Sorry but the factual reality doesn't match your simplified theoretical view.

 

[OohPooPahDoo]

I have a brokerage account. All I need to do is buy gold futures.

You are buying paper stating there is gold behind it. Way different deal.

Brokerage account...roflmao

BEWARE of Futures Brokerages selling "front end loaded" contracts.

I assume you already know that, but just in case?

I've no need for a futures contract. I was just point out to Galnuc he could use one in the case his dealer doesn't have gold the day he wants to buy it. If I do anything with gold it is with an ETF or an option on that ETF.

 

[OohPooPahDoo]

if gold was such a great investment they would not have to advertise it 24/7 on every media outlet. Someone is making money from gold and its not the suckers buying it.

You mean like the "suckers" in China and India who are buying all the Gold they can?

You REALLY don't know what's happening to the US Dollar do you? Google "Currency War" and get up to speed.

Don't pretend to preach to me little boy. I could probably buy and sell you with one weeks income.

I am quite aware of the currency issues worldwide. Thanks to obama and his terrible fiscal policies the US dollar has lost value against most world currencies.

Really? What fiscal policy of Obama was it that caused the price of the Euro in U.S. dollars to go up a whole 2 cents during his Presidency?

If you think gold is the answer, buy it. pay some broker a commission and put it in your little safe.

It only has value if you can sell it to someone else for some kind of currency. If all currencies lose their value who will you sell it to?

or are you so naive you think you can take your gold to the grocery store and buy food?

Its all part of the bunker mentality.

 

[OohPooPahDoo]

I buy some stuff and hold it for my son. He will sell it when he is older or pass it to his children should he have them.

Or he'll hoc it for whatever the market will pay him when he's hard up for cash.

 

[OohPooPahDoo]

It looks like Apoopoo doesn't realize that gold is a long term investment hedge. Good time to buy some more physical.

No it isn't.

 

[westwall]

GO ahead! Buy it! There were a lot of "buying opportunities" in fall of 1929. They only took 15 years or so to break even. Lot of "buying opportunities" on the downsides of the wild swings petroleum has had in the past few years - also a lot of opportunities to time it wrong and get fucked.

That's the thing about bubbles. Its not about whether you go long or short but whether or not you time them right. We all know they are going to burst - question is when.

Except the price of gold is not a bubble. It is maintaining value based on inflation.

No it isn't. Gold dropped like 8% in one DAY - are you telling me the value of the dollar increases 8% the same day?

A gold coin will buy just as good a suit as it would back in 1929.

First off, no it won't. They don't make suits like they used to, you won't find one that durable anymore.

Second off - I don't need to buy a suit in 1929, nor do I have money to invest in gold in 1929. So you don't really have a point. Especially considering the value of the dollar was pegged to gold for almost half the time since 1929.

You see dear child..it's not that the price of gold has gone up....the dollar has been devalued.

The dollar has dropped in value less than 10% since 2009 yet the price of gold was doubled at one point. Sorry but the factual reality doesn't match your simplified theoretical view.

Tell that to the haberdashers on Saville Row in london you ignorant twat. My gosh but the level of your ignorance is astounding.

 

[OohPooPahDoo]

Uhm, you wouldn't be able to find it, that's my answer.

You're willing to die for that? Doesn't do you much good if you're dead, does it?


That doesn't even make sense. Zimmerman didn't shoot someone for breaking into his house.

Besides if I wanted to steal your gold I'd probably just wait till you weren't home. Your guns don't do you much good then, do they? I'll take them, too.

Improbable? it will happen in China within the next two years.But yea, of course it won't happen in the US
China?s gold demand to beat supply by 2015 | MINING.com

So local gold dealers are out where you live as well, wait a second, first you said not to buy physical gold, than said buy etfs, now you are saying to wait to buy physical. You be trollin?

If your local dealer doesn't have it there are multiple ways to expose yourself to gold.

Are you threatening me? You're one crazy ass nigga yo. I mean it,l you wouldn't be able to find it, even if I weren't in the house.

I only want physical gold. Supply is low.

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos?

 

[westwall]

I buy some stuff and hold it for my son. He will sell it when he is older or pass it to his children should he have them.

Or he'll hoc it for whatever the market will pay him when he's hard up for cash.

You is one ignant twerp!

 

[OohPooPahDoo]

Are you threatening me? You're one crazy ass nigga yo. I mean it,l you wouldn't be able to find it, even if I weren't in the house.

I only want physical gold. Supply is low.

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos?

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos? Are you going to show up at a farmer's house - who needs fuel and parts for his tractor and fertilizer for his fields - and offer him GOLD for his crops instead of fuel, tractor parts, and fertilizer? Sorry but I think the guy with the fuel and tractor parts will get those crops before you.

 

[westwall]

Are you threatening me? You're one crazy ass nigga yo. I mean it,l you wouldn't be able to find it, even if I weren't in the house.

I only want physical gold. Supply is low.

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos?

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

 

[OohPooPahDoo]

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos?

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

I'm sure you'll be quite fine, right? You don't need society at all. You grow your own crops, own your own tractor factory, and produce your own ammonium nitrate fertilizer, right?

 

[TakeAStepBack]

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

I'm sure you'll be quite fine, right? You don't need society at all. You grow your own crops, own your own tractor factory, and produce your own ammonium nitrate fertilizer, right?

You aren't breeding, are you?

 

[OohPooPahDoo]

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos?

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

Why would I beg for something from someone who doesn't have anything?

 

[Skull Pilot]

Do you own gold?

Better

SELL

SPDR Gold Trust ETF Chart - Yahoo! Finance

You don't sell at a loss if you don't need to.

Idiot.

 

[Toro]

I'm hoping we get a good rally so I can short it. We may have already seen the highest price we will see in our lifetimes.

Remember, gold is a commodity, not a religion.

 

[westwall]

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

I'm sure you'll be quite fine, right? You don't need society at all. You grow your own crops, own your own tractor factory, and produce your own ammonium nitrate fertilizer, right?

For once you are correct. The world could go to complete hell and my family and close friends would do allright. We are very capable of fending for ourselves with no outside help at all.

 

[westwall]

He'll have his hand out begging for whatever we'll give him. He is incapable of taking care of himself.

I'm sure you'll be quite fine, right? You don't need society at all. You grow your own crops, own your own tractor factory, and produce your own ammonium nitrate fertilizer, right?

You aren't breeding, are you?

Boy, I hope not...

 

[westwall]

Gold is the thing of value, Gold is money. I will have gold, as you will have what? Food stamps and some treasury bonds?

How exactly do you intend to redeem this gold for anything of value once the world descends into economic chaos? Are you going to show up at a farmer's house - who needs fuel and parts for his tractor and fertilizer for his fields - and offer him GOLD for his crops instead of fuel, tractor parts, and fertilizer? Sorry but I think the guy with the fuel and tractor parts will get those crops before you.

You are assuming everything is going to devolve to a barter system, for which you have no evidence. Even in semi-developed economies, economies are money based. You are assuming someone is always going to be around for the exact good or service they will need, that is absurd, and why the barter system is a thing of the past. Money represents value that can be exchanged at a later date for goods and services desired.

And what if people don't want your poop or gas? What do you do then? What about when you run out of those things? what will you trade then?

And poopey has a big problem in that gas is a very perishable commodity with a fairly short shelf life before it begins to breakdown unless stored in perfect conditions.