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As U.S. Lies & Suppresses Gold, Its People Are Getting Crushed
2Thick:
--- Quote from: tu_holmes on May 03, 2014, 11:39:49 AM ---Not really... That means that 6 years ago, that green number was over 680.00
The point being is that the price of gold is dropping and will probably continue to drop for the next 20 years... So what you're buying today is getting devalued.
Now... if it goes BACK up to current rates, or beyond, in 20 years, yes, you've profited.
but it's still valued on the US dollar... Time will tell of course.
None of the people you quote truly "know".
They are just guessing and using their names (which is not worth much really) to make some money in the meantime.
--- End quote ---
Why do you think it will continue to drop for the next 20 years? Aside from stock guys like Buffett and Icahn who don't care, every top investor and fund manager I can think of have a generally bullish view of gold for the long term.
I saw a guy on CNBC a few months ago who I'd never heard of who said he'd been trading gold for 20 years. He said gold would soon be $900 when it was $1200. It's now around $1300 some 6 months later, and never got any lower than it was when he made the prediction.
The US dollar has been lowered in recent years with all the printing and pumping. Rates have been held down, but they will inevitably rise. We'll eventually see serious inflation, although it may take a while. What's your rationale?
2Thick:
Have you seen where inflation was in the EARLY 80s?
24KT:
--- Quote from: tu_holmes on May 03, 2014, 11:39:49 AM ---Not really... That means that 6 years ago, that green number was over 680.00
The point being is that the price of gold is dropping and will probably continue to drop for the next 20 years... So what you're buying today is getting devalued.
Now... if it goes BACK up to current rates, or beyond, in 20 years, yes, you've profited.
but it's still valued on the US dollar... Time will tell of course.
None of the people you quote truly "know".
They are just guessing and using their names (which is not worth much really) to make some money in the meantime.
--- End quote ---
Tu, I understand your reasoning, ...and while things appear very similar to what happened in the 70's & 80's that's where the similarity ends. In the 80's Voelker had tools to work with to combat the issue. Yellen has nothing. In addition, in the 80's, all we had were Western players. We're now in a GLOBAL playground, and China, Russia, India are major game changers.
It wouldn't surprise me if it did go down further. Goldman Sachs is urging clients to sell (while they're gobbling up as much as they can) This is a total shake-out of weak hands. I have no problem with the price going lower... I see it like an early Boxing Day sale where I'm able to acquire gold at sale prices using found money. Every Friday my euro denominated MasterCard gets automatically loaded up with funds that I didn't put there. That's free money that I'm able to use to acquire gold.
If I gave you $50,000 to buy gold, would you complain if were paying $5,000 per oz? No you wouldn't.
That'd be an additional 10 ounces of gold that YOU now own, that you didn't have to dip into your pocket for. As it stands, I'm not overpaying even with gifted funds, because the gold that I buy... physical bars in smaller, more transaction friendly weights, is the highest quality gold there is, available at the lowest price available.
24KT:
--- Quote from: tu_holmes on May 03, 2014, 01:47:25 PM ---I do recall, yes. My point being that gold will be dropping again and then will be the time to buy... not when the trend is down like this.
That's just me though, I'm not a getbig millionaire so what do I know.
--- End quote ---
If you're trying to catch the run up, good luck. I follow the adage it's better to be a year early than a day late.
I'd rather be sitting on my stockpile, or have mu heirs sitting on the stockpile PRIOR to it going parabolic.
The recent price smashes have shown shortages of gold will abound the. I'd rather have it in hand before it occurs, ...but that's just me.
avxo:
--- Quote from: 24KT on May 04, 2014, 12:16:56 AM ---If you're trying to catch the run up, good luck. I follow the adage it's better to be a year early than a day late.
I'd rather be sitting on my stockpile, or have mu heirs sitting on the stockpile PRIOR to it going parabolic.
The recent price smashes have shown shortages of gold will abound the. I'd rather have it in hand before it occurs, ...but that's just me.
--- End quote ---
By "stockpile" you mean, your plastic cards, right? Just checking.
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