GOLD- the only true currency?

purch

Good god- what is it about gold that is such a bad investment

It's not a bad investment, in fact it's done me pretty well over the last decade (I own 2 LGD bars and 4 kilobars currently) but there is no way I would use Peter Shiff, or any of the other nutters who post blogs and videos warning of impending doom, for financial advice.

sabretoothtigger

Why is silver so essential didnt realise it was

Gold is obviously not

I prefer simple arguments not 10 minute one sided discussions.

Do you believe everything you see on You Tube ??
No- only from people who know what they are talking about!

your own opinion is what matters, thats what you pay for.

If Indians arent buying gold and they account for 30% of yearly consumption then thats leeway in the price as long they do not buy.
I got more belief in the actions of long term buyers like that who have little money on average then relatively recent five year speculation by people who are very rich and fearful


Schiff is much more credible in that he is forced to put across an argument to people who completely disagree and do so in a few sentences.
He is a radical though, his father is in jail for tax evasion on anti government beliefs

Lol_UK_2

purch wrote: »

It's not a bad investment, in fact it's done me pretty well over the last decade (I own 2 LGD bars and 4 kilobars currently) but there is no way I would use Peter Shiff, or any of the other nutters who post blogs and videos warning of impending doom, for financial advice.

Well I wouldn't say that Peter Schiff was a nutter exactly! All he says is get some gold...which you already have, so there you go...

So who can we trust for financial advice and realistic market predictions? I honestly would like to know- if it isn't the likes of Schiff, Jim Rogers etc then who?

stv1x

Lol_UK wrote: »

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 didn't say it was a bad investment just that £7k's worth isn't going to help you avert the doom scenario you subscribe to.

For more sleepless nights you should have a look here http://jsmineset.com/

tonygee_3

the bubble of all bubbles
a shiny metal that serves no purpose

trenchwars

tonygee wrote: »

the bubble of all bubbles
a shiny metal that serves no purpose

As opposed to all those useful tenners in your wallet.

Gold's use is as a currency of last resort and a store of weath.

Masomnia

If I want to buy some food then I can take one of my very useful tenners to the shop to exchange it for goods and services. Last time I checked nothing was priced in gold.

trenchwars

Masomnia wrote: »

If I want to buy some food then I can take one of my very useful tenners to the shop to exchange it for goods and services. Last time I checked nothing was priced in gold.

Not yet anyway

The OP was complaining that gold had few physical uses - I was simply saying that neither does paper money, but that doesn't mean that it's useless.

Lol_UK_2

Masomnia wrote: »

If I want to buy some food then I can take one of my very useful tenners to the shop to exchange it for goods and services. Last time I checked nothing was priced in gold.

Yes.. well maybe you need to be prepared to take lots of tenners to buy your loaf of bread! Paper money used to be a certificate that 'promised to pay the bearer' something...like say, gold or silver that had real value. Now it's just paper!
Increase the supply of paper money and the price of gold goes up...not sure I can put it more simply than that!

purch

Increase the supply of paper money and the price of gold goes up...

I think you (and the Shifter) have been taking these 'printing money' story's waaaay too literally !!!

if it isn't the likes of Schiff, Jim Rogers etc then who?

Why have you chosen those two to listen to ??

Is it because they shout the loudest, and paint the most doom ??

Schiff keeps telling you that the USD is finished and will be worth zero, yet so far he hasn't been proved correct.

Rogers keeps telling you that Commodity's will increase in price hugely, yet so far he hasn't been proved correct.

But you would still rather listen to these two proven charlatans than anyone else !!

Your choice.....your money !!!!