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Debate House Prices


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With fears over a double dip recession and defaults on national debts...

peakoil_2
peakoil_2 Posts: 206 Forumite
in Debate House Prices & the Economy
...is it time to buy Gold?
«13

Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    No.

    It's time to buy gold when Hamish announces it's going to crash :D
  • Rinoa
    Rinoa Posts: 2,701 Forumite
    peakoil wrote: »
    ...is it time to buy Gold?

    Many people have bought gold as security against currency default.

    The idea being that after a world currency meltdown a new global currency will emerge. After which gold hoarders will sell their gold and receive its value in the new currency, congratulating themselves on how smart they were.

    Of course, when the new currency is recognised as super safe and hoarders attempt to sell their gold, they will discover every other hoarder is doing the same. And there won't be any buyers interested in buying it as a security hedge anymore.

    In all probability they will end up receiving a fraction of the price they paid.

    I'll stick to good old bricks and mortar. Folks will always need houses.
    If I don't reply to your post,
    you're probably on my ignore list.
  • whatyadoinsucka
    whatyadoinsucka Posts: 737 Forumite
    Part of the Furniture Combo Breaker
    Rinoa wrote: »
    Many people have bought gold as security against currency default.

    The idea being that after a world currency meltdown a new global currency will emerge. After which gold hoarders will sell their gold and receive its value in the new currency, congratulating themselves on how smart they were.

    Of course, when the new currency is recognised as super safe and hoarders attempt to sell their gold, they will discover every other hoarder is doing the same. And there won't be any buyers interested in buying it as a security hedge anymore.

    In all probability they will end up receiving a fraction of the price they paid.

    I'll stick to good old bricks and mortar. Folks will always need houses.

    to be honest we should all be stock piling food, 'gold' quote me if I'm wrong cannot be eaten or drunk to quench thirst
  • MacMickster
    MacMickster Posts: 3,648 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Gold is currently selling at its highest price in history. It may still continue to rise, or this may be close to the top of the market, and the top ofthe market is the worst time to buy.
    "When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson
  • Rochdale_Pioneers
    Rochdale_Pioneers Posts: 2,469 Forumite
    Part of the Furniture Combo Breaker
    From the report I heard on the news earlier, apparently its time to steal gold from Asian ladies in the street.

    Perhaps scallies read this forum?
  • michaels
    michaels Posts: 29,527 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    What is a pea coil?
    I think....
  • wherediditallgothen
    wherediditallgothen Posts: 1,520 Forumite
    michaels wrote: »
    What is a pea coil?

    Contraceptive for vegetarians?
    Set your goals high, and don't stop till you get there.
    Bo Jackson
  • wherediditallgothen
    wherediditallgothen Posts: 1,520 Forumite
    images?q=tbn:ANd9GcRsS0KlkUr9xM4rTy-GJPsg27hwk6aVh3I6gwA7o_IXYYKXuk0DGw

    Sold the house & went all in these. Just have to stop the mrs & son finding them & eroding my assets.
    Set your goals high, and don't stop till you get there.
    Bo Jackson
  • peakoil_2
    peakoil_2 Posts: 206 Forumite
    michaels wrote: »
    What is a pea coil?

    ha ha ha, I saw what you did there. comedy gold! :rotfl:

    let me try and be as funny. what is a mik haels?
  • wherediditallgothen
    wherediditallgothen Posts: 1,520 Forumite
    peakoil wrote: »
    ha ha ha, I saw what you did there. comedy gold! :rotfl:

    let me try and be as funny. what is a mik haels?

    It's like tumbleweed, but less funnier.
    Set your goals high, and don't stop till you get there.
    Bo Jackson
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