...and the next Bubble is?...you got it GOLD. America's ATM's (their homes) have run dry. Foreclosures will continue to mount. Banks will continue writing off Billions in bad loans. Consumer spending will slow(don't worry this is only temporary). The FED will continue to cut rates, causing the dollar to get weaker and weaker. Baby Boomers on the verge of retirement will not want to stomach the ups and DOWNS of the crazy stock market of the next few years. They, along with millions of other people around the world will seek a safe haven for their hard earned money. So, they will put their $'s in GOLD/SILVER. Don't believe me??? review Gold in the 1970's!
GOLD is going to $1700
- Thread starter jtav27
- Start date
hondaking38
Veteran Expediter
yepp been buying silver for years, bought most of it for 4.50 a ounce
greg334
Veteran Expediter
Gold? $1700 an ounce?
Come on.... what you really going to buy into that bs?
I got to tell you that there are two things going on in the gold market, one is the hype that is being created with the falling dollar which is directly related to the speculation of gold prices and the other is the fact that people who are doing the hyping are the ones who are getting rich.
$1700 an ounce?
Are you buying gold from one of those gold renters?
You know the people who sell it to you for an outrageous price, like 5% above the buy spot and then tell you that they will buy it back from you when you need to sell it but tend to forget that there are a lot of hidden fees and that they will buy it back 10% below the sell spot?
They know that you will find a limited outlet for gold, so they will step into the scene and rescue you.
Who are you going to sell it to when or even if the dollar collapses?
You will find that it will be like the California gold fields in the 1850s where an egg cost $20 and a pick cost $300. I got the chickens that lay the eggs and you got the gold and need to eat, I really don't need the gold but you need to eat, so 2 ounces for an egg, 30 ounces for a cooked buffalo chicken wing... get the picture.
It really is better to make sure that you are out of debt, you have no one to answer to and you own things that people can use to sell. A better solution would actually be to get behind tax replacement and push for something like the Fair Tax.
Come on.... what you really going to buy into that bs?
I got to tell you that there are two things going on in the gold market, one is the hype that is being created with the falling dollar which is directly related to the speculation of gold prices and the other is the fact that people who are doing the hyping are the ones who are getting rich.
$1700 an ounce?
Are you buying gold from one of those gold renters?
You know the people who sell it to you for an outrageous price, like 5% above the buy spot and then tell you that they will buy it back from you when you need to sell it but tend to forget that there are a lot of hidden fees and that they will buy it back 10% below the sell spot?
They know that you will find a limited outlet for gold, so they will step into the scene and rescue you.
Who are you going to sell it to when or even if the dollar collapses?
You will find that it will be like the California gold fields in the 1850s where an egg cost $20 and a pick cost $300. I got the chickens that lay the eggs and you got the gold and need to eat, I really don't need the gold but you need to eat, so 2 ounces for an egg, 30 ounces for a cooked buffalo chicken wing... get the picture.
It really is better to make sure that you are out of debt, you have no one to answer to and you own things that people can use to sell. A better solution would actually be to get behind tax replacement and push for something like the Fair Tax.
Good point!
However, the Gold Rising thing...Americans are a "want it now" sort of group, ya know? Don't save, don't have money for much if needed in emergencies...I highly doubt that Joe Blow will go put the money into gold instead of buying that huge ski boat he's always wanted but couldn't afford (No money down! 120 EZ payments of just $900 per month!).
Americans are spenders, not savers. And we spend it on depreciating assets instead of wisely investing it most of the time.
As for me, I sold my stocks in GOLD and DBP on the market. Its still fluctuating up and down, just like any other stock.
better buy that gold rolex now huh?
EagleRiverWI
Seasoned Expediter
My gold is in a little Canadian company called Minefinders. It was an exploration company, but then they found a gold find, that they did not want to sell off to a mining company. They built the mine themselves and are building the processing plant right now. I bought at $4. and it is $18 now. This is with no current profit. They are mining and will have their first gold sale in the next month after they finish building their infrastructure. They need to use the scrap rock to build the roads out of the Mexicam mountains.
Minefinders Corp. Ltd. Wall Street Analyst Forum Transcript - Seeking Alpha
Minefinders Corp. Ltd. Wall Street Analyst Forum Transcript - Seeking Alpha
EagleRiverWI
Seasoned Expediter
The reason there is no cash flow is because they had to build the mine before they start selling gold. They are going to make their first gold sale next month.
tbubster
Seasoned Expediter
You may have the chicken that lay the eggs,but I got the gold to buy the feed you need to get the chickens to lay the eggs.
If you are selling your chickens wings how many eggs you gonna have anyway?
Dakota
Veteran Expediter
I still feel if we get to the point of Mad Max, gold is going to be worthless
Good Call!! When this post was written, gold was just under $1000 per ounce. Right now it's at $1766 and climbing. Check the graph below - since Barack Hussein Obama's inauguration it's gone straight up.
5 year gold price history in US Dollars per ounce.^Top
Source: www.goldprice.org