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Getbig Misc Discussion Boards => The Getbiggers Board - The Lounge => Topic started by: Vince G, CSN MFT on May 09, 2012, 03:16:59 PM

Title: Gold Prices Plummet to 50 dollars an ounce
Post by: Vince G, CSN MFT on May 09, 2012, 03:16:59 PM
Wow!!
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Shockwave on May 09, 2012, 03:26:37 PM
24kt on suicide watch?
That seemed to be her thing.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 09, 2012, 04:06:16 PM
24kt on suicide watch?
That seemed to be her thing.

Suicide watch?! Surely you jest! lol!

Actually, truth be told, I'm quite happy. Vince did make a slight error. It's not that GOLD plummeted to $50,
...it's PRICE fell by $50.

Those of us with Karatbars accounts watched it happen and cheered it every step of the way down.

In addition, the US and Canadian dollars rose against the euro, ...so many of us are stocking up today.

Since karatbars prices lag the markets by 24 hours, we've get 20/20 hindsight.

A higher dollar against a lower euro + a precipitous drop in gold price = a SALE!!!  (http://www.jaguarenterprises.net/images/em/yippee.gif)

Make no mistake, today was a HUGE volume day for karatbars account holders.
(http://www.jaguarenterprises.net/kb/images/goldbuying.jpg)

And a boom for Karatbars affiliates too, as more & more people will be able to buy even more of it.

Watch and see what happens next. It's not like I didn't expect this... I knew with the start of the indian wedding season, and the Indian government backing off after the jewellers went on strike, that meant we were going to see higher prices. The powers that be HAD to attack the price and push it down, because the increased buying soon to come might make it go parabolic.

That combined with Warren buffett's dirty tirade... we knew something was in the works, but I didn't expect them to be THIS generous. Thanks Guys  :D

All is GREAT in my world, ...how about yours?  :)
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 09, 2012, 04:09:24 PM
And doesn't even include the effect of France being order OUT of the euro, or all the scandalous revelations in the banking world soon to come...  They had to make their move on gold soon. 
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 09, 2012, 04:10:26 PM
hmmmm, if only someone had forseen the appreciation of the dollar...

Like in the posts i have made or the paper I wrote for my int. finance class.....

Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 09, 2012, 05:16:23 PM
hmmmm, if only someone had forseen the appreciation of the dollar...

Like in the posts i have made or the paper I wrote for my int. finance class.....



Ahem...

A higher dollar = lower gold PRICES

A lower dollar = higher gold PRICES

The value of GOLD doesn't change, ...if it does, it's only upward. What is changing is the PRICE.
Because the dollar is the unit of accounting, it APPEARS like what is changing is GOLD,
when in actuality, it is simply the counterfeit medium used to acquire GOLD that is fluctuating.

Gold as a store of value, hasn't changed in over 6,000 years, and I don't see it likely to start any time soon.


Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Fury on May 09, 2012, 05:18:29 PM
I love how this stupid, lazy-eyed bitch who has never worked a day in her life acts like she's reinventing the wheel when the rest of us have been talking about this for years.

Only difference is we're not scamming the shit out of people.  :-\
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 09, 2012, 09:29:28 PM

Ahem...

A higher dollar = lower gold PRICES

A lower dollar = higher gold PRICES

The value of GOLD doesn't change, ...if it does, it's only upward. What is changing is the PRICE.
Because the dollar is the unit of accounting, it APPEARS like what is changing is GOLD,
when in actuality, it is simply the counterfeit medium used to acquire GOLD that is fluctuating.

Gold as a store of value, hasn't changed in over 6,000 years, and I don't see it likely to start any time soon.
wtf are you talking about you ignorant dumb ass?

your whole point is that the dollar is going to collapse so ppl should by gold that other ppl keep to protect themselves.

hmm the dollar is appreciating, the higher the dollar also means the more the purchase power for goods.

which also means that more ppl from around the world will invest in it(buy the US dollar) and the US(stocks/bonds etc)...AGAIN GO BACK AND CHECK MY POSTS, you huckster...Ive been saying it for a while now.

what is your pedigree in this realm again?

a few pamphlets and online sources?

maybe an online seminar or two?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: howardroark on May 10, 2012, 09:43:22 AM
^ the problem with your analysis: US stocks and the US economy are in a bubble right now. The party can only last for so long...
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Ron on May 12, 2012, 05:48:34 PM
Quote
Ahem... A higher dollar = lower gold PRICES.   A lower dollar = higher gold PRICES
The value of GOLD doesn't change, ...if it does, it's only upward. What is changing is the PRICE.
Because the dollar is the unit of accounting, it APPEARS like what is changing is GOLD,
when in actuality, it is simply the counterfeit medium used to acquire GOLD that is fluctuating.
Gold as a store of value, hasn't changed in over 6,000 years, and I don't see it likely to start any time soo

First, Gold Price on May 7th was around $1,640.  Ended the week at $1,580 approx.  Unfortunately, Vince cannot even understand the basics of gold, as as to make a statement like that is just pure funny.

Neither does 24K.  The value of gold doesnt change? WTF?  The value of gold is just as speculative as the value of some stocks.  Otherwise, people would be investing only in gold.  But they don't.  I don't.  I have friends who have it is is a wild ride, going from 1,500 to 1,800 and back down.  My speculation on gold is that it will settle around in the $1,500 eventually, and go down as the economy goest up in a few years. 

I will stick to misc stocks, and dividends, it seems to work better for me in the long run.

Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: polychronopolous on May 12, 2012, 05:56:35 PM
Sticking all your money into gold is a terrible investment.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Vince G, CSN MFT on May 12, 2012, 06:05:02 PM
First, Gold Price on May 7th was around $1,640.  Ended the week at $1,580 approx.  Unfortunately, Vince cannot even understand the basics of gold, as as to make a statement like that is just pure funny.

Neither does 24K.  The value of gold doesnt change? WTF?  The value of gold is just as speculative as the value of some stocks.  Otherwise, people would be investing only in gold.  But they don't.  I don't.  I have friends who have it is is a wild ride, going from 1,500 to 1,800 and back down.  My speculation on gold is that it will settle around in the $1,500 eventually, and go down as the economy goest up in a few years. 

I will stick to misc stocks, and dividends, it seems to work better for me in the long run.



Gee, Ron, how the fuck did you come to the conclusion that I don't understand the basics of gold just from one thread posting that it dropped by 50 bucks???  Oh sure, I slightly messed up the wording of it as if it dropped to 50 dollars an ounce but with all due respect, you're seriously out of line on this one...... ::)


This is the second time you've just stepped into one of my threads and made a disparging comment about me.  While you do own Getbig, how about showing some common courtesy.  If you have a question to ask, then why not do so over PM instead of trying to audition for Last Comic Standing on my dime.


One more thing.....How about keeping the promises that you made to me 6 years ago????  

Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: polychronopolous on May 12, 2012, 06:08:03 PM
Gee, Ron, how the fuck did you come to the conclusion that I don't understand the basics of gold just from one thread posting that it dropped by 50 bucks???  Oh sure, I slightly messed up the wording of it as if it dropped to 50 dollars an ounce but with all due respect, you're seriously out of line on this one...... ::)


This is the second time you've just stepped into one of my threads and made a disparging comment about me.  While you do own Getbig, how about showing some common courtesy.  If you have a question to ask, then why not do so over PM instead of trying to audition for Last Comic Standing on my dime.


One more thing.....How about keeping the promises that you made to me 6 years ago????  



Vince, just from a surface level, aren't you being a little harsh in your response to Ron? I'm sure he didn't mean anything by it but on the other hand there might be some issues the two of you need to hash out that none of us know about?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Vince G, CSN MFT on May 12, 2012, 06:23:55 PM
Vince, just from a surface level, aren't you being a little harsh in your response to Ron? I'm sure he didn't mean anything by it but on the other hand there might be some issues the two of you need to hash out that none of us know about?


No, because Ron could have have left out the rhetoric.  If he has a problem with me, then he can always contact me anytime.  I'm 35 years old and I'm way too old for this kiddie stuff.   Its pretty clear that he was taking a cheap shot at me


Same goes for Chick who has a problem with my statements regarding his show on MD.  He promised an ESPN format and design and looks like like it was being filmed from the same place Bin Laden was hiding in.  MD has the money to put together a professional looking show but it ends up being on a shoestring budget.  If you run a steakhouse, then serve steak....not stew meat or hamburgers.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Ron on May 13, 2012, 08:00:04 AM

No, because Ron could have have left out the rhetoric.  If he has a problem with me, then he can always contact me anytime.  I'm 35 years old and I'm way too old for this kiddie stuff.   Its pretty clear that he was taking a cheap shot at me.  Same goes for Chick who has a problem with my statements regarding his show on MD.  He promised an ESPN format and design and looks like like it was being filmed from the same place Bin Laden was hiding in.  MD has the money to put together a professional looking show but it ends up being on a shoestring budget.  If you run a steakhouse, then serve steak....not stew meat or hamburgers.

Promise? Not sure what you are talking about? Six years ago? I have a short term ememory.   And it wasnt a cheap shot.  You were $50 an ounce. It was a good laugh here.   I find it funny that people were predicting gold to reach $2,000 by April 1st, yet obviously it has fallen back to a more normal level, and probably will fall more. 
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Straw Man on May 13, 2012, 09:47:52 AM
hmmmm, if only someone had forseen the appreciation of the dollar...
Like in the posts i have made or the paper I wrote for my int. finance class.....

did you make any trades based on your "foresight" ?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Nirvana on May 13, 2012, 11:36:30 AM
When the zombies and southern baptists come, I'm going to load up on food gas and ammo.  You can keep the damn infomercial, re-issued, buffalo indian headed, 99% pure, replica coins.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 13, 2012, 11:38:34 AM
^ the problem with your analysis: US stocks and the US economy are in a bubble right now. The party can only last for so long...
and what do you base this assesment on roark?

I agree that we will probably see a slight pull back or correction in the market. We may have just seen it in the recent weeks as a matter of fact.

Im especially interested in why you believe the economy itself is on a bubble?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 13, 2012, 11:41:53 AM
did you make any trades based on your "foresight" ?
did not, Im content in getting A's and the self satisfaction I get from being proven right.

that and my discretionary income is pretty low right now, what with helping paying for grad school.

why did you put forsight in quotations? lol
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Shockwave on May 13, 2012, 12:06:25 PM
When the zombies and southern baptists come, I'm going to load up on food gas and ammo.  You can keep the damn infomercial, re-issued, buffalo indian headed, 99% pure, replica coins.
This, speed and horsepower, food, gas, and Firearms. Specifically, one M4 based Carbine, 2 shotguns, one long range hunting rifle, and 2 1911 .45 pistols. (1 pistol and 1 shotgun each for me and my wife, rifle and carbine for me. Plus some misc knives.)
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Bindare_Dundat on May 13, 2012, 12:48:42 PM
Promise? Not sure what you are talking about? Six years ago? I have a short term ememory.   And it wasnt a cheap shot.  You were $50 an ounce. It was a good laugh here.   I find it funny that people were predicting gold to reach $2,000 by April 1st, yet obviously it has fallen back to a more normal level, and probably will fall more. 

It hit $1910.00. Damn fine if you ask me. 
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 14, 2012, 05:55:19 PM
Do you own gold in physical form or is this through some sort of investment vehicle which makes it such that you can dump it like a stock?

Syntax,
It is physical pure 24KT 999.9 % purity, in smaller, more affordable transaction friendly weights.
These weights allow for maximum flexibility, as well as liquidity, should one require liquidity, or if the worst should occur, and people stop accepting paper money due to hyperinflation, one could use them to settle payments to those who may choose to accept them. We have a growing number of businesses & merchants around the world who have positioned themselves to accept karatbars as payment.,

They can be immediately delivered so one can take immediate physical possession if one chooses, or they can be vaulted free of charge if one prefers.

Either tucked under your mattress, buried in a hole in the dessert, or kept in free storage, they can be converted back into paper money at a moment's notice if one chooses.  (Maybe not so quickly if buried in the dessert, 'cause first you'd have to dig it up)  ;)

A Karatbars account is NOT for traders who want to wheel & deal... although there are some who may attempt to do that, due to their liquidity, and Karatbars guaranteed highest buy-back price should one decide to sell their gold. If a portion of your gold is in free storage, converting it back to paper money is a breeze, or even transfering a portion to a merchant for goods or services, should you desire to do so at some point.

A Karatbars account is for savers. Those who want to convert their fiat paper currency, into another form of currency, that has proven itself and it's ability to perform over the last 6,000 years. Only LBMA gold with a purity of 999.9 is considered money worldwide, and will be accept as currency worldwide. It is a form that cannot be printed out of thin air, and is not subject to the whims of Bernanke's printing press or imprudent unwise decisions by politicians looking to save their incumbencies... especially those who have stated by both words & deeds, that it is their intent to kill the dollar.

It is simply a culmination of growing "global currency trends" [dot] com we're seeing all over the globe. Account holders are taking delivery in 58+ countries.

Infact, this morning in one of our skype chat rooms, one woman wrote: WOW!! How do they do this?? I ordered several Pope Cards Last Thur at about 9PM EST. THEY ARRIVED THIS AM!!! AWESOME!!" - Linda P - Canada (Mon, May 14th, 2012)

I hope that answers your questions. If not, feel freee to visit the link in my sig line, so we can spare the readers a long drawn out thread about Karatbars.

Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 14, 2012, 06:34:21 PM
First, Gold Price on May 7th was around $1,640.  Ended the week at $1,580 approx.  Unfortunately, Vince cannot even understand the basics of gold, as as to make a statement like that is just pure funny.

Neither does 24K.  The value of gold doesnt change? WTF?  The value of gold is just as speculative as the value of some stocks.  

{giggle} Ron, I remember when you stated in 2010 that Gold would be the same price next year as it is today. I believe gold was at $1100, then. A year later, it was at $1920. I thought it would be bad form to do the Scrubs 'I told ya so' dance, so I kept silent, ...tho I giggled so hard I almost peed. :D

Yes, the value of gold doesn't change. It still buys today, what it bought in years past.

eg: In the early 1900's a brand new Ford off the assembly line would cost you $850 or approx 1.3 kilos of gold.

Today however, to acquire that same Ford off the assembly line, you'd be looking at a whole lot more than $850, much closer to the $40K+ price range. Coincidently enough, if priced in gold however, it would still be 1.3 kilos of gold.


Quote
Otherwise, people would be investing only in gold.  But they don't.  I don't.  I have friends who have it is is a wild ride, going from 1,500 to 1,800 and back down.  My speculation on gold is that it will settle around in the $1,500 eventually, and go down as the economy goest up in a few years.

Gold has an inverse relationship to paper money. It's price is only a reflection of the value of paper, not a reflection on it's value, but rather a reflection of the value of paper. As the value of paper goes down, the price of gold goes up, however, it's purchasing power is retained.

If you saved $300 / month for the last 20 years, you would have saved a total of $72,000

HOWEVER due to inflation, the $72,000 that you saved, would only give you the purchasing power of $56,000.

Had you instead been putting that $300 / month in gold, even though you'd still be saving $72,000 over that time period, you would instead have the purchasing power of $232,000.

Which would you prefer?  $56K in purchasing power representing a $16K loss due to inflation

...or $232,000 in purchasing power?

$56,000.oo or $232,000.oo

I know which one I would choose. :D


Quote

I will stick to misc stocks, and dividends, it seems to work better for me in the long run.


To each his own, ...but even the IMF is choosing gold. Looks like they're not too confident in paper derivatives, or the credit markets these days, 'cause they're looking to acquire $2.3 Billion in GOLD. Gee, dju think that might be why the price went down a bit, ...so they could acquire even more of it?  Now ask yourselves, why would the IMF want gold when they can simply push a button and create a number of zeros to lend out at interest? They are sooooo close to the printing presses, yet they want GOLD? curious... don'tcha think?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 14, 2012, 06:58:08 PM
Sticking all your money into gold is a terrible investment.

In 100% complete & total agreement with the above statement!

Sticking all your money into any one thing is not a wise or prudent thing to do. Never put all your eggs in one basket.

It's like savings. People who save all their money in paper are going to get a very nasty & rude awakening, like so many other people around the world and across the centuries. There have been over 4,000 fiat paper currencies over the years, ...and without fail, every single one of them has gone to their basic value... zero. It would be mighty wishful thinking to believe that the USD will escape the same fate.  Previous currency collapses have been regional in nature, however the USD is the world's reserve currency. That means if or more accurately when it collapses, it takes the entire global financial system down with it.

It's my opinion that savers, those who put money in a bank account to SAVE and not spend, should save a portion in gold.

The experts recommend people should have at least 5% to as much as 40% of their money in gold. Well through smaller more affordable transaction friendly units, the masses can afford to acquire gold, uslng a dollar cost averaging approach as recommended by Marc Faber, as a potential lifeboat, should unforeseen circumstances cause a disruption.

During the riots in Egypt, I had friends who were unable to purchase groceries for a while because authorities shut down the internet, and ATM bank machines. Back in the late 90's the debit card purchase system went down for BMO customers all over Canada. Are we not starting into Hurricane season soon? What if some sort of disruption were to occur that prevented you from accessing your paper bank money account? Wouldn't a supply of small, transaction friendly weights of pure, non-counterfeitable 24 KT 999.9 fine LBMA gold, easily recognized by banks, merchants in 194 countries around the world as genuine, come in handy?
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on May 14, 2012, 07:43:44 PM
I love how this stupid, lazy-eyed bitch who has never worked a day in her life acts like she's reinventing the wheel when the rest of us have been talking about this for years.

I've worked. I've worked pretty hard, and I continue to work hard ...every day.

Just because I don't have a job... BY CHOICE, doesn't mean I've never worked. I do work.
I'm an entrepreneur. That's what you're called when you own a business, call your own shots, and aren't employed by someone else

A JOB in my books stands for Just Over Broke. No Thank You
(http://www.jaguarenterprises.net/kb/images/entrepreneur.jpg)


Quote
Only difference is we're not scamming the shit out of people.  :-\

I hope you're prepared to explain how this is a scam or retract your statement.

Lies, slander, and unwarranted character assassination attempts do a tremendous disservice to readers here, so stop writing a check your ass may be legally required to cash. And those who moderate this forum should not permit this type of character assassination to take place lest they be viewed as equal accomplices to the slander & libel, and equally liable.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 14, 2012, 08:07:52 PM
did you seriously just post an org chart and say it looks like a pyramid scheme?

LMFAO, about as logical as anything else youve posted on gold or finance I guess so we shouldnt be surprised
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Vince G, CSN MFT on May 15, 2012, 05:24:58 AM
did you seriously just post an org chart and say it looks like a pyramid scheme?

LMFAO, about as logical as anything else youve posted on gold or finance I guess so we shouldnt be surprised


She is right about that chart.  A average job is always a pyramid scheme...people unqualified get promoted if they suck up, you never get paid what you are worth and you can be laid off from your job anytime like I was from Alltel in 2007.

That's why I run my online business for....so I have control over what I make and not anyone else
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: dario73 on May 15, 2012, 06:10:03 AM
When the zombies and southern baptists come, I'm going to load up on food gas and ammo.  You can keep the damn infomercial, re-issued, buffalo indian headed, 99% pure, replica coins.

Southern baptists won't be here at that time. They are far from being a threat.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: avxo on May 15, 2012, 04:21:50 PM
Just because I don't have a job... BY CHOICE, doesn't mean I've never worked. I do work.

Doing what? Posting marketing fluff about plastic-encased gold flakes on a message board about bodybuilding? Please...


I'm an entrepreneur. That's what you're called when you own a business, call your own shots, and aren't employed by someone else

Apparently, your only "business" (and I use the term loosely) involves posting marketing material about plastic-encased gold on a message board about bodybuilding. Frankly, it's no different that what a highschool kid who wears a burrito costume and stands on the sidewalk spinning a paper sign does. The only difference is he gets paid and doesn't pretend to be an expert on burritos.


A JOB in my books stands for Just Over Broke. No Thank You

Your sheer talent in the construction of acrostics has convinced me... whatever you're peddling, I'll take 8!


Lies, slander, and unwarranted character assassination attempts do a tremendous disservice to readers here, so stop writing a check your ass may be legally required to cash. And those who moderate this forum should not permit this type of character assassination to take place lest they be viewed as equal accomplices to the slander & libel, and equally liable.

Since you're now trying to appear to be an expert on libel law too, let me ask you something: do you dispense advice in 1 gram flakes, neatly packaged in a plastic card by LegalBars™?

In all seriousness, I was about to caution you against speaking out on subjects that you are completely uneducated about, lest you look like an idiot. And then I realized that looking like an idiot isn't the biggest problem that you have.


She is right about that chart.  A average job is always a pyramid scheme...people unqualified get promoted if they suck up, you never get paid what you are worth and you can be laid off from your job anytime like I was from Alltel in 2007.

I don't think that "pyramid scheme" means what you think it means.


That's why I run my online business for....so I have control over what I make and not anyone else

Yay!  ::)
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: tonymctones on May 15, 2012, 04:26:49 PM

She is right about that chart.  A average job is always a pyramid scheme...people unqualified get promoted if they suck up, you never get paid what you are worth and you can be laid off from your job anytime like I was from Alltel in 2007.

That's why I run my online business for....so I have control over what I make and not anyone else
LMFAO, im not disagreeing with the fact that ppl who suck up sometimes get promoted just like you cant disagree with the fact that ppl who work hard and deserve promotions get promoted to.

A normal business is nothing like a pryamid scheme, maybe your misunderstandings is a reason why you didnt get promoted.

you also have the ability to leave and find a better job with more job security if you would like.

Hey how about this?

get skills, abilities, experience and knowledge that make you hard to replace. I bet you would be more likely to get promoted then as well.

I know its a crazy sounding plan but ppl have been doing it for centuries so there must be something to it...
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: Jon Harridan on May 15, 2012, 11:47:31 PM
Doing what? Posting marketing fluff about plastic-encased gold flakes on a message board about bodybuilding? Please...


Apparently, your only "business" (and I use the term loosely) involves posting marketing material about plastic-encased gold on a message board about bodybuilding. Frankly, it's no different that what a highschool kid who wears a burrito costume and stands on the sidewalk spinning a paper sign does. The only difference is he gets paid and doesn't pretend to be an expert on burritos.


Your sheer talent in the construction of acrostics has convinced me... whatever you're peddling, I'll take 8!


Since you're now trying to appear to be an expert on libel law too, let me ask you something: do you dispense advice in 1 gram flakes, neatly packaged in a plastic card by LegalBars™?

In all seriousness, I was about to caution you against speaking out on subjects that you are completely uneducated about, lest you look like an idiot. And then I realized that looking like an idiot isn't the biggest problem that you have.


I don't think that "pyramid scheme" means what you think it means.


Yay!  ::)


Why not try making money at the roulette table? ;)
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: 24KT on June 04, 2012, 01:00:58 AM
I hope all of you paid close attention to what happened to GOLD on Friday.
In case you missed it, ...it shot up $66.10 in one day! The high point was $70, then it pulled back.

So let me see, ...it dropped by $50 an ounce, making it less expensive to acquire,
...then shot up by $66.10 an ounce. Basic 3rd grade math tells me that overall, GOLD is up... like I knew it would be. That's why I don't worry in the least about temporary pullbacks, ...infact, I welcome them.

Just wait and see what starts to happen next, ...it's gonna be one hell of a ride, ...especially now that GOLD is back on the table as a possible means of either collateral or settlement for sovereign debt issues. A revaluation is imminent. More likely sooner than later.

And let's not forget the fact that now the FED, the largest holder of US Debt is demanding that banks purchase US Debt. It seems now the banks are being ordered to buy toxic debt. It was bad enough before when no one knew those CDO's were toxic, ...but now they now the US Debt is toxic and can never be repaid, but they are being ordered to buy it, or face audits & scrutiny they know they will not be able to stand up to.

It's just another toxic CDO, ...only this time, the collateral for these debt obligations is YOUR savings and labour... and that of your children, ...and grandchildren etc.,

Looks to me like the FED is attempting to reinflate a treasury bubble, so I'll be sticking to GOLD.

When that treasury bubble pops... LOOK OUT!
I call it the treasuries trap, and I plan to stay well away from it.
Title: Re: Gold Prices Plummet to 50 dollars an ounce
Post by: avxo on June 04, 2012, 01:44:45 AM
I'd hardly call an ~3% move "shooting up"... As for your basic third grade math, you probably don't know about fancy things like percentages, but what it boils down to is that over a period of a few days gold climbed by about $11 or so, which translates to an astronomical rise of... wait for it... about 0.68%.

There seems to be significant price resistance above $1700 and certainly above $1900. Barring some short of extraordinary event that isn't already factored into the price of gold right now (something like Auric Goldfinger's plot from the James Bond movie executed succeessfully, no doubt by an equally flamboyant and rotund villain) gold isn't breaking $2000 in the next twelve months.