GOLD- the only true currency?

purch

...not sure I can put it more simply than that!

Okay....quick recap.

So basically you are saying that the price of Gold would be much higher, except for the "powers of darkness" who are artificially keeping the price down.

And it these same "powers of darkness" that are printing all this extra paper currency that makes the price of Gold go higher.

So the people who are forcing the price of Gold lower, are the same one's who are forcing it higher ??

I guess it makes sense to Schiff and you............

Lol_UK_2

There are an awful lot of people on these forums asking where to put their lump sum investments- and I'm beginning to get the picture that all the 'sensible' investors on the forum are not considering gold as a possible hedge against massive inflation that may be imminent. I'm becoming rather scared to suggest that a few grand in gold just might be a possible option worth considering...there seems to be so much negative reaction to suggesting it, that I'm being accused of spamming and being irresponsible- even trying to talk up the price so I can make a 'killing'! There are people going bankrupt on here (like I did some years back), people losing money on bonds held for years, losing pensions, hard earned savings being diminished by the day!
I'm not in the least interested in telling people I told you so a year from now...I'm saying look at the evidence and opinion of a few financial experts that have seen this coming and don't trust governments and banks!

Lol_UK_2

purch wrote: »

Okay....quick recap.

So basically you are saying that the price of Gold would be much higher, except for the "powers of darkness" who are artificially keeping the price down.

And it these same "powers of darkness" that are printing all this extra paper currency that makes the price of Gold go higher.

So the people who are forcing the price of Gold lower, are the same one's who are forcing it higher ??

I guess it makes sense to Schiff and you............

God...this is getting silly....
If you take the time to listen to this:
http://www.youtube.com/watch?v=fdDzo5fCY3w

It's not powers of darkness- it's economics!

So the US government (the Fed) and The Bank of England are not printing more money?...So where is it coming from?
The Fed have been printing surplus dollars for years (and now, by law, don't have to tell anyone how much they are putting into circulation).
We are now devaluing the pound with 'quantitive easing', so surely we can see where this is going!

Lol_UK_2

purch wrote: »

I 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

So who should we listen to? All the experts that last year told us that we would be bouncing back this year, that house prices had hit bottom, that the bail-out packages would work, that 2.5 percent off VAT would 'kick-start' the economy?
The dollar is being propped up only by the hope that the stimulus package will work...and it might! But what if it doesn't (just like the Great Depression when it was government interference that made it worse, not better). Tell me honestly- do you think this will all blow over within a year- maybe two?

adambro

Please do not become mesmerised by the idea of owning a load of gold or the apparent security it offers. The time to invest in something is not at a high price when everyone else is doing the same. If you have a fortune then it is obviously sensible to spread it across a whole range of investments to reduce your risk and gold might form part of that. For the average man in the street though, gold might be something that is cool to say you own but not really worth bothering with from an investment point of view. The risk of all our money becoming worthless is extremely limited so you'd be better keeping your money in more conventional means, savings accounts, equities, bonds etc.

For the guy who says he has 7k of gold, what proportion of your total wealth does that form?

Also, for those who have fallen for gold hook, line, and sinker, if the situation does arise where a major currency collapses, do you not think it will have a dramatic effect on all currencies? What are you actually going to do with your gold?

mrposhman

Lol_UK wrote: »

God...this is getting silly....
If you take the time to listen to this:
http://www.youtube.com/watch?v=fdDzo5fCY3w

It's not powers of darkness- it's economics!

So the US government (the Fed) and The Bank of England are not printing more money?...So where is it coming from?
The Fed have been printing surplus dollars for years (and now, by law, don't have to tell anyone how much they are putting into circulation).
We are now devaluing the pound with 'quantitive easing', so surely we can see where this is going!

You've sort of argued against your own point there. Funnily enough gold is priced in DOLLARS and you are saying that quantitive easing is already occurring in the US. If you bothered to listen to other analysts then you would see several are stating that the dollar is currently overweight and may well lose some strength.

Even if gold stays where it is you would lose out.

As to your other point, heard of a guy called warren buffet?

dobefan

Horses for courses ... gold is not for everybody! Interesting video for those that care to watch it ...

http://www.guardian.co.uk/world/video/2009/feb/11/zimbabwe-gold-panning-starvation-food

Cheers

cloud_dog

Just read the thread........... WOW, it makes the other gold threads seem like warm and cosy fluffy bunnies

LOL, as you may have found out, gold brings out the emotional in people, its a bit like discussing aliens......... there are those who believe and those who don't.

Me........... I'm in it for the money :beer:

But, it does make me laugh when the people roll out the same old 'it doesn't produce income', 'what value does it have', etc, etc. The same could be said about financial stocks.

For the time being I think gold will serve as a way of increasing value in my porfolio but, as I've mentioed elsewhere I am currently pretty much out of gold atm.

cloud_dog

sabretoothtigger

Posh, if the dollar loses value it means the price of gold in dollars will rise. Like a normal exchange rate except gold is not bound to a country of course but supply and demand

Ive never owned gold anything in my life personally, the circuitry on a computer perhaps and they can trace that to less width then a human hair now.
Its base value would be 100 dollars if it was just down to my own interest.

The criticism 'it produces no wealth' would be in comparison to a normal currency I suppose, we all like to do business with Japan, their people have some unique skills and inventions, so their currency has obvious demand and value, etc.

Its a strange thing to consider, gold takes up the slack in international commerce ?

kingmonkey

Is there gold on Mars?