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Gold price to go steady, dips imminent?
Comments
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Tell that to white farmers in Zimbabwe driven out by Mugabe.
Farmland isn't easily transportable when the catastrophe occurs.
Anything physical which lasts and you can sell is a hedge against inflation, including both precious metals and land. Both of these things have been confiscated during "catastrophe" in the past.
There is no no-risk option.0 -
Anything physical which lasts and you can sell is a hedge against inflation, including both precious metals and land. Both of these things have been confiscated during "catastrophe" in the past.
There is no no-risk option.
Are we talking about Roosevelt in 1933, or something else? Confiscation is legal seizure without compensation. Roosevelt outawed 'gold hording': citizens were permitted to hold certain amounts and any excess could be sold to the treasury at market value. That isn't confiscation.
Those who wanted to keep their precious metals simply moved it out of the country (e.g. to Swiss vaults) - this is where 'easily transportable' comes in...0 -
Are we talking about Roosevelt in 1933, or something else? Confiscation is legal seizure without compensation. Roosevelt outawed 'gold hording': citizens were permitted to hold certain amounts and any excess could be sold to the treasury at market value. That isn't confiscation.
Yes, that is what I'm talking about. And my understanding is that after the gold had been forcibly sold to the treasury, the price quadrupled.Those who wanted to keep their precious metals simply moved it out of the country (e.g. to Swiss vaults) - this is where 'easily transportable' comes in...
Agreed.0 -
All of those things can go to zero, and have done so in the past.Not in normal situations you can't. This is not a normal situation. Monetary systems don't collapse every year. They tend to last a few decades.
Simply because it is possible for anything to fall to zero value does not automatically imply that everything has. Sterling, for instance, has been around for centuries and has not fallen to zero.Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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Ark_Welder wrote: »Simply because it is possible for anything to fall to zero value does not automatically imply that everything has. Sterling, for instance, has been around for centuries and has not fallen to zero.
How far has it fallen since its inception?0 -
How far has it fallen since its inception?
It hasn't. It has stayed the same. Prices for many items, however, have risen.
Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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Ark_Welder wrote: »It hasn't. It has stayed the same. Prices for many items, however, have risen.
The original pound sterling was a 'tower pound' of silver (11.25 troy ounces). Today that's worth £272 - representing a fall of 99.6%0 -
The original pound sterling was a 'tower pound' of silver (11.25 troy ounces). Today that's worth £272 - representing a fall of 99.6%
So silver has risen in price. As I have never been into photography or trinklets and baubles its industrial demand has passed me by.Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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Looks like that was the pullback. Seems to be heading north again...0
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