GOLD is going to $1700

[zack100]

...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!

In response to the global banking crisis and Great Recession of recent years, the Fed lowered the target fed funds rate to a range of 0% - 0.25%. It was an unprecedented move by the Fed, one that caused the Prime Rate to drop to 3.25%, in accordance with the formula delineated above. Now, since the Fed has lowered its benchmark rate to its lowest possible level, that means the current US Prime Rate – 3.25% -- is also as low as it can go.

I doubt we'll see interest rates fall, however gold is and will continue to have a very good year.

Gold? $1700 an ounce?

Come on.... what you really going to buy into that bs?

$1700 an ounce?

Fair Tax.

HHHmmmmmmmmmmmmmm ............. sources tend to feel differently.

NEW YORK (CNNMoney) -- Gold surged to a new record on Monday, boosted by global market uncertainty in the wake of Standard & Poor's downgrade of U.S. debt. Gold hit an intraday record of $1,718.02 per ounce -- its first time above $1,700

What does this have to do with trucks?

Economy = Trucks and other facets of the economy. SO …….. it might be time to be thinking like Jethro – being a brain surgeon or a double - naught spy ain’t a bad idea

 

[Tennesseahawk]

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​

Telling people to buy gold a couple years ago is like saying the Patriots are going to the playoffs when they're 10-0. Peter Schiff has been telling us to buy gold since '01. He knew what the Fed was doing would cause a collapse of the system. If only the CT voters would've listened to him; they'd be the praise of the country for getting him into the Senate.

 

[Camper]

Telling people to buy gold a couple years ago is like saying the Patriots are going to the playoffs when they're 10-0. Peter Schiff has been telling us to buy gold since '01. He knew what the Fed was doing would cause a collapse of the system. If only the CT voters would've listened to him; they'd be the praise of the country for getting him into the Senate.

Another call Peter Schiff has been making is the impending dawn of an inflationary depression..

Look no further than Zimbawe or Weimar Germany as examples of such a scenario. It ain't pretty..


Posted with my Droid EO Forum App

 

[greg334]

I get a kick out of this, well here we go again ... the ones who are selling the gold and priming the people into a panic are the ones who are making the money while those who have investing in other things that are just as tangible and more useful are sitting laughing.

Gold is a specutive reflection of the dollar's strength and if you invest now at the same time the country actually does something right, then the price drops and many people cry that they lost money. The time to invest was when it hit 900 an ounce, not 1700.

As pointed out the interest rate is the lowest it has ever been but as I said before, it needs to go up and let things adjust itself to it and allow the dollar to gain strength back.

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? [/qoute]

Well chickens don't need all that 'feed', you may already know that.

By the way, the system collapses and no one has access to their gold because it is in banks, how do you think you will use it?

AND doesn't anyone here actually barter?

 

[moose]

I would like to used this opportunity to thank *** the expediter for being my friend for all those years.
your sound business wisdom have got me for where i am now.
*** is the one behind this OP and he is one smart expediter, and i followed his advices many times over.
just look at the OP date.

GOOD CALL, you called it !

 

[tbubster]

I buy gold from people like you and me.Not gold that is kept in a bank/government vault.To easy for the government to take it from me and pay me what they want.Dont think it can happen look what Roosevelt did in 1933.ordered Gold conficated the reason being "An act to provide relife in existing national emergency in banking and for other purpose.They paid the people 20.67 an ounce.then sold it for 35 an ounce.

What I do is buy gold jewelry from people by the gram.There are a few good companys out there that will buy it from you then smelt it turning it into 24K there buy makeing money on it.What I have is a Microwave gold kiln and do the smelting myself on my patio.So when I do send them some to sell they buy it as 24K not a bunch of 10k 12k 14k 18k and so on.The kiln cost 250 bucks and the flux I can get 15 pounds for 60 bucks.
No I may not have enough to sell it off and retire but if the dollar tanks all the way down I will have more then enough to buy my own chickens.You are right on chickens not eating much feed just a couple of ounces a day each.However I also know the feed has to be fresh.Old stale feed will effect their laying habbits in a very bad way.Then all they are good for is those wings.So with out the gold how you gonna keep buying them fresh feed.Yes I have heard of the barter system.The guy with the feed will have everybody with chickens wanting to barter with him.Some he will barter with but not all.

You are also right that gold prices may go down However gold prices will go much higher befor they go back down.Yes it was nice buying gold at 900 an ounce But there is all kinds of money to be made today.A gram of 10K gold sells for 22 dollars with todays price of 1754 an ounce. Now I buy 31.1035 grams of 10 k gold for 22 a gram that totals 715.38 for a ounce of 10 k gold.Which when I smelt it all together comes out as a troy ounce of 24K gold that then sells for 1754 dollars thats a 1000 dollar profit.Now yes gold prices may go back down and I along with other people may take a big hit.But if I gotta risk my money somewhere at least its on something I can controll how big of a risk I take.

 

[tbubster]

Half way through the day today and its above 1800 an ounce gotta love it

 

[Camper]

Half way through the day today and its above 1800 an ounce gotta love it

Just about double what it was two years ago when Bernanke & the gang stepped up their currency devaluation agenda.


Posted with my Droid EO Forum App

 

[layoutshooter]

Lead shot, primers, hulls, wads, brass, bullets and fishing tackle are ALL worth more it the "stuff" hits the fan.

 

[tbubster]

Just about double what it was two years ago when Bernanke & the gang stepped up their currency devaluation agenda. Posted with my Droid EO Forum App

Kinda makes one wish the powers that be would stay in power a few more years.

Lead shot, primers, hulls, wads, brass, bullets and fishing tackle are ALL worth more it the "stuff" hits the fan.

Dont know if worth more but all things on the list of must have's

 

[layoutshooter]

Kinda makes one wish the powers that be would stay in power a few more years.


Dont know if worth more but all things on the list of must have's

A $20 gold piece won't buy you $20 worth of stuff at today's prices if it ever does get that bad. With enough "toys" and supplies for those toys, I can do OKEE DOKEE. I have several thousand fish hooks and a LOT of line stored at home. Not for this reason, I got them cheap a while back, but they are there!!

I do have an "ammo shortage". A lot of my "stockpile" got flooded. It is going to cost a LOT to replace it all.

 

[greg334]

Maybe some of you need to compare the price of gold with the inflation rate - it hasn't started to catch up just yet but when it does ... just saying.