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chellovek
Joined: 29 Feb 2008
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 Posted: Thu Dec 23, 2010 5:35 pm Post subject: |
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lol you Dave's libertarians and gold-bugs *shakes head* 
Is there nothing else in your heart than precious metals and money?
I'm not doubting things are going down the pan, but you folk have what might be termed "slight psychological problems". Not well rounded individuals at all. |
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austrian123
Joined: 15 Oct 2010
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| Posted: Thu Dec 23, 2010 5:37 pm Post subject: |
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| mises wrote: |
My mom is the ultimate contrarian indicator. She likes every investment just as it tops.
Last week she suggested I buy gold. So, for me that's about it. We'll see if her winning streak continues. |
When every Tom Jack and Harry on the street starts telling you to buy gold, then you know that it's time to sell.
Louise Yamada, who is the most respected technician on Wall street stated that gold will hit bubble territory when it hits 5000 an ounce. At today's price of 1380, it is still under the inflation adjusted high of 2500. gold is still cheap.
We are only in the beginning of stage 2 of this bull market. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Dec 24, 2010 5:32 am Post subject: |
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| chellovek wrote: |
lol you Dave's libertarians and gold-bugs *shakes head*
Is there nothing else in your heart than precious metals and money?
I'm not doubting things are going down the pan, but you folk have what might be termed "slight psychological problems". Not well rounded individuals at all. |
You are not clever. |
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austrian123
Joined: 15 Oct 2010
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| Posted: Fri Dec 24, 2010 6:36 pm Post subject: |
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| chellovek wrote: |
lol you Dave's libertarians and gold-bugs *shakes head*
Is there nothing else in your heart than precious metals and money?
I'm not doubting things are going down the pan, but you folk have what might be termed "slight psychological problems". Not well rounded individuals at all. |
LOL. You don't even realize that your government and central banks are screwing you over and robbing you blind. Well a fool and his money are soon parted.
The printing of money and inflation is a transfer of wealth from the middle class to the banking elite. It's a hidden tax. Only hard assets will protect your money and purchasing power.
If you admit that things are going down the pan, why do you just sit there and do nothing about it? They say knowledge is power. I disagree...Knowledge and taking action is true power.
So tell me then, why do think Precious metals are a bad investment?
Waiting. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Mon Dec 27, 2010 11:50 am Post subject: Re: Goldman Sachs Predicts Best Precious Metal Returns for 2 |
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| austrian123 wrote: |
Btw...the US dollar has lost 97% of its value since the creation of the Federal Reserve |
So what? Back then teachers made $500 a year, now they make $50,000.
| austrian123 wrote: |
and gold has moved up against ALL currencies over the last 10 years. |
What did it do in the 20 years before that?
| austrian123 wrote: |
| What is your argument for holding fiat currencies over gold? |
Obviously U.S. dollars are money that can be spent on food, rent etc. You can't pay your mastercard bill with gold. Dollars are simply convenient for transacting. The convenience of dollars is an obvious advantage. However I don't see any reason to hold any more dollars than are necessary to achieve that convenience. I have less than 1% of my assets in fiat currencies, about 2 months worth of expenses. I am not arguing that anyone should hold more fiat currency than that. What you have presented is a false dichotomy. Gold and fiat currencies are not the only two choices. Stocks, bonds, mutual funds, REITs, diamonds, classic cars, vintage wine, art, comic books , wheat futures, Iowa farmland, lakefront cabins, 4plexes etc. are alternative possibilities. I really don't care if gold continues to go up. The question is whether it is going to go up more than all other alternatives. I expect that in 10 years my investments will have out performed gold. I don't care if gold outperforms in the short term. I'm not interested in tryng to time gold's next bear market. It does seem to me that every Tom, Dick and Harry on the ESL cafe as well as mises mother are saying buy gold, so it wouldn't surprise me if it's time to sell. Of course the only gold I have is my wedding ring and a gold crown, and I'm not selling those. |
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Reggie
Joined: 21 Sep 2009
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| Posted: Mon Jan 03, 2011 12:03 am Post subject: |
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| chellovek wrote: |
lol you Dave's libertarians and gold-bugs *shakes head*
Is there nothing else in your heart than precious metals and money?
I'm not doubting things are going down the pan, but you folk have what might be termed "slight psychological problems". Not well rounded individuals at all. |
Money, beer, precious metals, and tail. The three things all male ESL teachers care about plus gold.  |
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Reggie
Joined: 21 Sep 2009
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| Posted: Mon Jan 03, 2011 1:04 am Post subject: |
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As the welfare state expands, the petro-Zionist wars expand, and the banks need another bailout (which they will), taxes on paper investments and highly visible assets like land will go up at a time when the value of the dollar will be rapidly deteriorating due to moneyprinting.
I invest money in fruit trees, fruit bushes & vines, and nut trees that I feel are an excellent investment, but I don't want more land (more property taxes). I've been unable to do it all at once since it takes years for trees and some bushes to grow and produce, but I'm phasing out of all agricultural production that requires a plow. Plowing is easy now with cheap oil, but when Americans have to start plowing with donkeys and horses again, I hope I'll no longer be plowing.
Physical agricultural production and physical metals are the best investments going forward, in my opinion.
A wood stove (if you have a wood supply) is a very good investment.
Investing time to learn how to can food is a good investment. Taking the time to know how to make wine, vinegar, beer, dairy products, soap, and other frequently used items is a good investment. For tobacco users, knowing how to produce one's own supply is a good investment. My grandfather probably saved tens of thousands of dollars over the course of his lifetime by growing and making the tobacco products he consumed.
People who have a back yard, a front yard, or a farm to where they can do these things and not have to give away their acquired wealth to obtain these things will be a whole lot better off than people living in apartments. However, I do think apartments in downtown areas might become good investments at some point in the future since they'll be in very high demand after oil becomes unaffordable. Who wants to commute on a donkey? You had better live close to work.
As for Goldman Sachs's opinion about gold, I agree that it will go up, but people have to take what Goldman says with caution. It's the same company that fraudulently encouraged clients to buy the same investments Goldman itself was dumping. |
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