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06-21-2011, 08:39 PM
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#91
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Registered User
Join Date: Jun 2001
Location: Worst Coast
Posts: 1,538
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Quote:
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Originally Posted by lamboguy
this guy Paulson, who runs the largest hedge fund just blew up $700 million on one equity a forestry company in china.
these hedge funds got big manangement fees hidden inside of them, you invest with hedge fun you will lose, but the manager will make money.
buy gold and you pay your juice up front and know what you are getting into before you start and no one is going to fool you either. all i hear on financial networks is how bad a deal gold is for you. me experience says it usually opposit what they say.
my mother taught me this: those that tell don't know, and those that know don't tell.
gold going to $1740
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President Roosevelt closed the banks and stopped U.S. citizens from owning
gold in 1933. Prior to that gold's dollar value, per troy ounce, was $20.67.
Prices remained fairly stable, before the devaluation of the dollar, except for
occasional shortages.
Let's say, for the sake of argument, the dollar has lost 98% of its purchasing
power since 1933. If you multiply $20.67 times 50 then gold's monetary
value would be worth $1033.50. Have average dollar prices gone up 50 times
since 1933? You make the call! You'll see what the monetary value of gold
really is, in dollars.
__________________
Fuel Shortage? Burn Dummies!
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06-21-2011, 09:22 PM
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#92
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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sometimes markets anticipate things ahead of time. while gold is priced in dollars, it is not always an inverse of what the dollar is. gold right now is at the highs vs plenty of other currencies worldwide.
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06-22-2011, 01:35 AM
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#93
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Registered User
Join Date: Apr 2003
Location: Willamette Valley, Oregon
Posts: 1,622
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I guess I'd need to know the proportion of gold to world population, 1933 and 2011.
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06-23-2011, 11:47 PM
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#94
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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today bernanke anounced no QE3 or 4 or 5. gold tanked about $30 bringing silver, platinum and all the other precious metals with it. this announcement was probably the best thing that could have happened to gold even though it dropped pretty strong. the way i see it, these guys at making the decisions of what to do are going to lose the confidence of the rest of the world. the worst thing that could happen is that a month for now bernanke has his news conference and anounces another round of QE in one form or another. at this point gold should skyrocket over and above numbers that i never dreamed of before. when bernanke talks about inflation he is just a code word for gold. inflation and gold are synonomis with each other. oil has dropped from $110 the barrel down to $90. the government might have sold some of its "strategic reserves" to bring the price down. not sure on that one but very possible. we live in a world where perception is the law of the land. the public constantly keeps getting fooled by their leaders. when the publice figures out what is going on all hell will let lose here with the currency.
i strongly urge anyone that has some type of a portfollio that they carry some portion of it in gold. curently i am about 110% in gold soon to go to 150%
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06-23-2011, 11:51 PM
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#95
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Registered User
Join Date: Apr 2008
Location: Louisiana
Posts: 5,597
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Quote:
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Originally Posted by lamboguy
today bernanke anounced no QE3 or 4 or 5. gold tanked about $30 bringing silver, platinum and all the other precious metals with it. this announcement was probably the best thing that could have happened to gold even though it dropped pretty strong. the way i see it, these guys at making the decisions of what to do are going to lose the confidence of the rest of the world. the worst thing that could happen is that a month for now bernanke has his news conference and anounces another round of QE in one form or another. at this point gold should skyrocket over and above numbers that i never dreamed of before. when bernanke talks about inflation he is just a code word for gold. inflation and gold are synonomis with each other. oil has dropped from $110 the barrel down to $90. the government might have sold some of its "strategic reserves" to bring the price down. not sure on that one but very possible. we live in a world where perception is the law of the land. the public constantly keeps getting fooled by their leaders. when the publice figures out what is going on all hell will let lose here with the currency.
i strongly urge anyone that has some type of a portfollio that they carry some portion of it in gold. curently i am about 110% in gold soon to go to 150%
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I am sure I probably misread something here lambo....But how can you be anything above 100% in your portfolio???
I take this to mean you are ALL IN GOLD?
__________________
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men,deriving their just powers from the consent of the
governed.
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06-23-2011, 11:57 PM
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#96
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Racing Form Detective
Join Date: Jul 2007
Location: Lincoln, Ne but my heart is at Santa Anita
Posts: 16,316
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Gold lost $33 or about 2% today. A buying opportunity?
__________________
Some day in the not too distant future, horse players will betting on computer generated races over the net. Race tracks will become casinos and shopping centers. And some crooner will be belting out "there used to be a race track here".
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06-23-2011, 11:59 PM
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#97
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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Quote:
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Originally Posted by newtothegame
I am sure I probably misread something here lambo....But how can you be anything above 100% in your portfolio???
I take this to mean you are ALL IN GOLD?
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i sold some silver 2 months ago, and bought gold below $1500. i will sell some portion of gold at $1740 when it reaches there. good strong bull markets have never gone strait up without haveing consolidation's . gold has been doing that the last 10 years.
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06-24-2011, 12:02 AM
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#98
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,651
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Quote:
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Originally Posted by Robert Goren
Gold lost $33 or about 2% today. A buying opportunity?
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I'm going to state the obvious...and that is...gold has already topped out...
What could happen that could send gold CRASHING down? Whatever that is, look for it to happen...
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06-24-2011, 12:24 AM
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#99
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Racing Form Detective
Join Date: Jul 2007
Location: Lincoln, Ne but my heart is at Santa Anita
Posts: 16,316
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Quote:
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Originally Posted by PaceAdvantage
I'm going to state the obvious...and that is...gold has already topped out...
What could happen that could send gold CRASHING down? Whatever that is, look for it to happen...
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The answer is nothing. Gold generally goes up when something happens. When nothing happens for a while, gold starts to slide. In this case the end of QE II is the beginning of nothing happening. But the world is a dangerous place and something could happen at anytime to sending the price upward.
This is my best impression of the kind of mumble jumbo that you hear CNBC or Fox Business. I haven't clue about where the price of gold is going.
__________________
Some day in the not too distant future, horse players will betting on computer generated races over the net. Race tracks will become casinos and shopping centers. And some crooner will be belting out "there used to be a race track here".
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06-24-2011, 12:32 AM
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#100
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,651
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If something were to happen to send Gold to the moon, your quality of life is going to end up in the shitter anyway....
Although I wouldn't trade it with your money, I say this bubble is about to pop something fierce. NOTHING goes up forever without some major PAIN along the way...
The beginning of the end of the gold run started when you began to see all these ads on TV telling everyone to buy gold...buy gold...buy gold...
Life just doesn't work this way, and the financial markets CERTAINLY don't work this way...once EVERYONE starts piling on, that's the time to BAIL...
Gold has TOPPED. I say it goes back to at least $1,000 before it sees another high anytime soon.
Now, back to my question...what could make the price of gold accelerate its descent? Why did it drop so much today?
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06-24-2011, 08:25 AM
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#101
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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the 200 week moving average on gold is close to $1100 right now, so it is trading 35% above it, which is a huge number right now. it is scary to say the least if you hold gold. unfortunately i don't see gold as being in a bubble. the reason for that is that less than 1% of the world's population is holding gold right now. when everyone is all done piling into anything, its always time to bail out. that hasn't happened yet. it happened in the real estate market in this country and in certain area's it is down 70% off the top.
gold is the only bailout for our government to save our quality of life. gold needs to go much higher to save us so we can pay our bills with the stuff. high gold prices will mean high inflation.
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06-24-2011, 02:42 PM
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#102
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Registered User
Join Date: Jun 2001
Location: Worst Coast
Posts: 1,538
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Quote:
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Originally Posted by lamboguy
i strongly urge anyone that has some type of a portfollio that they carry some portion of it in gold. curently i am about 110% in gold soon to go to 150%
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I'd be very careful about investing in any assets right now as all asset classes
world wide, save cash [fiat] are moving together. The trend is down... deflation
is starting phase II.
__________________
Fuel Shortage? Burn Dummies!
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06-24-2011, 05:36 PM
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#103
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Registered User
Join Date: Aug 2007
Posts: 1,481
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Quote:
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Originally Posted by PaceAdvantage
If something were to happen to send Gold to the moon, your quality of life is going to end up in the shitter anyway....
Although I wouldn't trade it with your money, I say this bubble is about to pop something fierce. NOTHING goes up forever without some major PAIN along the way...
The beginning of the end of the gold run started when you began to see all these ads on TV telling everyone to buy gold...buy gold...buy gold...
Life just doesn't work this way, and the financial markets CERTAINLY don't work this way...once EVERYONE starts piling on, that's the time to BAIL...
Gold has TOPPED. I say it goes back to at least $1,000 before it sees another high anytime soon.
Now, back to my question...what could make the price of gold accelerate its descent? Why did it drop so much today?
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Announced withdrawing of armed forces from Afghanistan. I remember when gold prices soared fro $200 to $800+ in the mid-70's, due to the regime change in Iran. Reagan stated that he would get the price back to $200 and it did go back to that level.
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06-24-2011, 07:09 PM
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#104
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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Quote:
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Originally Posted by NoDayJob
I'd be very careful about investing in any assets right now as all asset classes
world wide, save cash [fiat] are moving together. The trend is down... deflation
is starting phase II.
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gold is not an investment it is an insurance policy. can it go back to $1200, the answer is YES, but will it go back and break prior highs, that is also a YES. anyone that thinks this is a bubble is fooling themselves on this one. in fact even if we are going into deflation that will not be bad for gold either.
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06-24-2011, 08:18 PM
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#105
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Registered User
Join Date: Apr 2008
Location: Louisiana
Posts: 5,597
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Quote:
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Originally Posted by lamboguy
gold is not an investment it is an insurance policy. can it go back to $1200, the answer is YES, but will it go back and break prior highs, that is also a YES. anyone that thinks this is a bubble is fooling themselves on this one. in fact even if we are going into deflation that will not be bad for gold either.
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Hoping "whitey bulger" didnt give ya that info...... 
JK....hope ya have a nice investment!
__________________
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men,deriving their just powers from the consent of the
governed.
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