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Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"
Comments
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I don't hype gold. I did explain it's personal choice.It is not the personal choice it is the obvious hyping. I for one wouldn't like to be giving fellow posters 'can't lose' advice about what is an obvious risky asset at the top of its price range, it may go up it may go down.
I also didn't explain that my bro-in-law is a commodities trader across the pond (Canada). I have some money out there, and at the moment it's easier to invest it over there than here. This is another reason why I can't say my situation is like others.
My best investment was a useless modern-art style painting which I thought rubbish, but which sold for 3 times what I paid for it.
It shows what level of judge I am ! :rotfl:0 -
Gold is best bought little and often, with a long buy in mind. My retirement is secure, even if my PS pension goes tits up.
Anyway you buy on dips, not on January the 20th 1980 days prices, or March the 5th 2010 prices.
Wait a minute, so you are advising people not to buy at the moment
Why didn't you say that? 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
But, but, but, Gold is supposed to be the ultimate hedge against Inflation
It is, compare the price of gold from every January 20th 1980 to January 20th 2010 and index link it to price inflation indices.
http://www.lbma.org.uk/stats/goldfixg
http://www.bankofengland.co.uk/education/inflation/calculator/index1.htm
An exceptional spike for one day does not discredit my argument.
Anyway you are confusing price inflation with monetary inflation. Two entirely different animals, even though they are related.0 -
Right, I am sold.
Next question
F Hinds Or Beaverbrooks ?0 -
........ you just accidentally put the limit at the end of the great bear run between 1505 and 1650,
....... that between 1933 and 1969 gold in dollars trended downward.
....... it turns out that even prior to the gold standard you could inflate away, as long as you could dig gold out of the ground.
...... claim that gold always rises in price.......
OK number 2, go back 300 years instead.
1933 to 1971 gold price was fixed, not allowed to find market price.
The Brit Empire having most of the worlds gold did this with a relish from the 1850's. It was not paper government spending, it was gold spending. And, as we know, it worked.
As to prices, just lifted this off search engine as first I came across.
http://www.nma.org/pdf/gold/his_gold_prices.pdf0 -
It's Friday, I'm off early.
Who said wimps were stupid?0 -
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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OK number 2, go back 300 years instead.
1933 to 1971 gold price was fixed, not allowed to find market price.
The Brit Empire having most of the worlds gold did this with a relish from the 1850's. It was not paper government spending, it was gold spending. And, as we know, it worked.
As to prices, just lifted this off search engine as first I came across.
http://www.nma.org/pdf/gold/his_gold_prices.pdf
So, in summary, you are saying that gold is a great thing to buy, because any time the government wants they can fix its price, and the worlds governments have, collectively, pretty much the entire worlds gold supply in its reserves except a small amount of pocket change for earings, and so can flood the market and stuff you any time they want. And, in the mean time, the entire market is effectively easily rigged by any hedge fund, because it is tiny.
Or maybe I'm misunderstanding your point.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0
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