Anyone here a gold or silver bug?

[Bigsacks]

just wondering........not trying to case the joint

[edcopp]

Originally Posted by Bigsacks

just wondering........not trying to case the joint

At least you are honest. Perhaps.

[furholler]

Originally Posted by edcopp

At least you are honest. Perhaps.

[tnokie]

I always thought it would be great to put my extra in gold. I just never have any "extra". My soninlaw bought $1030.00 worth of gold coins at an auction last sat. I haven't talked to him to see weather he actually made a good deal or broke even.

[Nomad]

When the economy is good I buy silver. When it's bad I sell. I have sold all of mine and wish I had bought more. I may not live long enough to buy again with the way things are going.


Nomad

[edcopp]

I bought a 1/10 oz. gold coin at spot last week. Already it is "good as gold".

[TnAndy]

Two years ago, wife had some extra money from a second job/hobby she does, and asked me what to do with it. I suggested those 1/10oz gold eagles. She paid 77 FRNs for them from APMEX. Their buyback price today is about 144.

Not a bad return for 2 years, huh ?

[NorthCountryWd]

Originally Posted by TnAndy

Two years ago, wife had some extra money from a second job/hobby she does, and asked me what to do with it. I suggested those 1/10oz gold eagles. She paid 77 FRNs for them from APMEX. Their buyback price today is about 144.

Not a bad return for 2 years, huh ?

We sold a property back in 2003, got out of debt and used the rest to buy gold and everybody thought we were nuts. Bought more in 2005 and my parents laughed at me saying we should invest in real estate like they were.

They're now broke and lost all their investments, including the $1.5 million home they lived in, to foreclosure.

[Sawmill Jim]

Remember you got to get the metals in your hand paper is paper :smiley-laughing013:

[Raymond]

I dont invest in it, but I do mine it.

[suitcase_sally]

I bought silver back in 1979 during the first run-up (that I was aware of) and paid $3/oz to $8/oz. Today it's around $23/oz. That sounds like a GREAT deal until you factor in inflation. According to:
http://www.halfhill.com/inflation.html
silver purchased for $8 in 1979 would have to be $26.30/oz just to break even. The only problem for me, is, I can't remember how many oz. I paid $3 for and how many were $8.

ps. gold and silver is the next bubble to burst. It happened before and will again.

[TnAndy]

Originally Posted by suitcase_sally

ps. gold and silver is the next bubble to burst. It happened before and will again.

When folks say that, I ask:

1. What makes gold/silver "valuable" in terms of paper dollars ?

My answer is people think the dollar is going down in value ( buying less for the same number of dollars ), and are looking for a place that will retain purchasing power.

2. What makes a paper dollar go down in value ?

Printing more and more of them.


3. So for gold/silver to be in a bubble, wouldn't paper dollars are about to be MORE valuable....and there be less of them....and prices on things like food, fuel, etc, going down ?

Yes...that is correct.

4. So take a look at this chart. Are paper dollars about to suddenly become scarce ?




Uh.....I don't think so. If anything, we're about to experience another round of printing that will make the first round look like a small spike.

WHAT do you think that will do to the "price" of gold ?

People say "it happened before" ( referring to the late 70's ) and I agree. The FED took steps to make the dollar more valuable.....they raised interest rates sky high. That made the dollar and dollar denominated debt more desirable than gold and brought the price back down.

BUT remember the times: the national debt was under a trillion ( vs. 13.6 trillion today ). The economy was still fairly sound. And even then, it stopped housing dead for 2-3 years.

WHAT do you think would happen TODAY if the FED raised rates ? The economy would go more in the toilet than it already is, and the interest on the govt debt would become more than they take in taxes.

SO, I'll worry about the price of gold/silver coming down when I see SOME hint of the FED raising rates and shutting off the printing press.

Until then, gold IS NOT in a bubble.....it is mere a reflection of how sorry the "dollar" is.

See ya at gold $3000.

[garyinmississip]

Originally Posted by Bigsacks

Anyone here a gold or silver bug?

Most of my bugs are black. Some are black and yellow, some are brownish red, none are gold or silver.

[CrashTestRanch]

Originally Posted by Bigsacks

just wondering........not trying to case the joint

your user name is Bigsacks, and you post this: "...not trying to case the joint"

[edcopp]

Then if you take a look at his information you find out that he has none. We can't even figure out what country he is in while not casing the joint.

Everybody knows how safe the internet is.

[Pink_Carnation]

Doesn't matter if he is casing the joint...anyone who looks at this thread could use any real info that is given out. Even if you trust all the registered users you would still have all the guests to worry about also.

[stanb999]

The only gold this guy can afford is.

The genuine gold clad mint coin from the XXXX Mint. It's clad in .999 real gold.



Buy bullion and keep it in your hands... A bank "safety" deposit isn't you hands.