GOLD- the only true currency?

purch

I'd say this was required viewing

Do you believe everything you see on You Tube ??

themanbearpig

Be careful with gold. There seem to be loads of people with invested interest in it, and will ramp it up by creating a sense of unfounded confidence.

I personally believe there may well be more gold being sold than actually exists, and the online bullions could be subject to "madoff" style fraud.
The banks also hold huge quantities of gold, and if they sell when the !!!!!! really hits the fan the price will plummet.

stv1x

Lol_UK wrote: »

For myself and my Mum- about 7k....

Based on that figure and your belief of impending doom, (even if gold rises to $2k per ounce), is that really going to save you or your Mum?

I'm guessing that your entry into gold was, at best, $700 per ounce?

purch

at best, $700 per ounce?

I'm guessing $ 965 oz :eek:

stv1x

purch wrote: »

I'm guessing $ 965 oz :eek:

On that basis he is $4 and 5 cents up per ounce at the time of writing this so his future is secured

sabretoothtigger

As I say, if you bought at this point in 1980 you're sitting on a huge real terms loss.

True, gold has not risen much in price since 1980 so the actual loss to inflation has been fairly massive. Even now the dow has risen greatly since that time so countering inflation.

What that would also mean is that gold is still cheap Actually the top chart here is out of date, so you can roughly double the final red line marker on the right which does actually bring it more in line with 1980 and so its not quite that cheap in comparison

Lol_UK_2

purch wrote: »

Do you believe everything you see on You Tube ??

No- only from people who know what they are talking about!

Lol_UK_2

sabretoothtigger wrote: »

True, gold has not risen much in price since 1980 so the actual loss to inflation has been fairly massive. Even now the dow has risen greatly since that time so countering inflation.

What that would also mean is that gold is still cheap Actually the top chart here is out of date, so you can roughly double the final red line marker on the right which does actually bring it more in line with 1980 and so its not quite that cheap in comparison

...and that's why I posted the youtube link explaining why gold has been kept artificially low.

Lol_UK_2

stv1x wrote: »

Based on that figure and your belief of impending doom, (even if gold rises to $2k per ounce), is that really going to save you or your Mum?

I'm guessing that your entry into gold was, at best, $700 per ounce?

Good god- what is it about gold that is such a bad investment when peoples savings and pensions are being wiped out as we speak!!!
I'm not trying to save the world- just some small investments that won't lose like just about everything else!

I bought at £530 an ounce FYI (at writing it's around £680)...might go up and down a bit but give it a year or so...!

purch

No- only from people who know what they are talking about!

What makes you think this guy knows what he's talking about ??

Basically it's a Gold Bug telling you that it's not his fault that he's always wrong about Gold, but it's because of some big conspiracy.

Very similar to Shiff trying to explain why all his predictions are so far wrong.

"I would be right, but they are working against me"

Listening and reading all these loony conspiracy theorists is not a good way to protect your wealth anyway.

They never tell you what you will actually be able to do with your Gold once financial armageddon strikes !!!