GOLD- the only true currency?

cloud_dog

sabretoothtigger wrote: »

Jim Rogers is talking on Channel 4 news in a bit. He recently recommended not buying gold short term as it approached 1000 and it has fallen back some

We'll, you know what they say............ Great minds think alike

http://forums.moneysavingexpert.com/showpost.html?p=19002433&postcount=35

:money:

sabretoothtigger

yea its a strange thing, all time lows on the stocks and its falling as well.
Maybe some gold is being sold to buy big companies with nice yields

tradetime

sabretoothtigger wrote: »

yea its a strange thing, all time lows on the stocks and its falling as well.
Maybe some gold is being sold to buy big companies with nice yields

Or meet margin calls.

mike22

More even, it seems the gold pulled back more in $ than in £.

Lol_UK_2

sabretoothtigger wrote: »

Jim Rogers is talking on Channel 4 news in a bit. He recently recommended not buying gold short term as it approached 1000 and it has fallen back some

...and listen to what else he says! UK and US are helping to create the next depression by pumping good money after bad (albeit printed money we don't have)...which is what Peter Schiff has been saying for 3 years.
Gold will ultimately go up ( not necessarily for the short term) as we are entering phase 2 of this debacle....as the only asset with any value!

Everyone seems to be assuming that the markets are bottoming out, and are trusting that 'safe' investments (ISA's, bonds whatever) will be ok...well I would rather listen to the minority who have been proved correct in their predictions than the majority who have been proved so very wrong...

tradetime

As I've said before, I like Jim Rogers the investor, he's good at what he does. But Jim Rogers, the economist get's a little tiresome, his economic view may be right, it may not, but it's very repetitive, and his facts are a little suspect. I wish he'd leave the economics to Roubini, the politics to Paul and just talk investment.

Lol_UK_2

tradetime wrote: »

As I've said before, I like Jim Rogers the investor, he's good at what he does. But Jim Rogers, the economist get's a little tiresome, his economic view may be right, it may not, but it's very repetitive, and his facts are a little suspect. I wish he'd leave the economics to Roubini, the politics to Paul and just talk investment.

I'd have thought being a good investor would qualify you to be a good economist. Who do we listen to...the a**holes that got us to where we are now?!!!
Economics, Politics, - all inextricably linked I think you'll find!

tradetime

Lol_UK wrote: »

I'd have thought being a good investor would qualify you to be a good economist.

I don't see why. Jim's economic views on the situation stem from comparing it to both Japan and the great depression, over and over again, unfortunately he skips the bits that don't fit the picture, so no, he's not an economist, Roubini is an economist, compare the two, he presents his own arguements not edited comparisons to the past. If I recall correctly even a cnbc hack pulled Jim apart on that a while back. But he is imho, one of the great investors.

Lol_UK wrote: »

Who do we listen to...the a**holes that got us to where we are now?!!!
Economics, Politics, - all inextricably linked I think you'll find!

So by that metric you see politicians as good economists

Lol_UK_2

tradetime wrote: »

So by that metric you see politicians as good economists

No- the exact opposite!! Because they are inextricably linked, we should never let politicians get involved in economics because THEY are the very people who got us into this. And they will continue to escalate this by printing money, which they think is a good idea, and has never worked to re-energise an economy.

kingmonkey

Can I just point out something obvious.

You buy some gold for £100.
Government decides to print money therefore inflation rises to 20% for the year.
Gold price increases to £120 the over the year.
There is no income.
You sell at £120.
Real terms profit 0% less commission.