Gold is now a bad investment. - Page 2 - The Orange Mane

Arkie · 10-08-2009, 09:55 AM

Quote:

Originally Posted by cutthemdown

When will that be 2030? Certainly you don't expect a 100% increase do you? I mean anytime soon?

Gold won't go much higher and will stay around 1000.

Gold will spike 100% at the end of the cycle due to speculative mania. I think the cycle will end sometime within the next couple years, specifically mid-2010. I think it could be anywhere from $1500-2500, then it will drop 50% almost as quickly as it spiked.

Tombstone RJ · 10-08-2009, 11:06 AM

Its the whole "Cash For Gold" scam. It's totally screwing everyone. Flooding the market with recycled gold.

I say invest in pyrite... be ahead of the curve.

cutthemdown · 10-08-2009, 01:02 PM

Quote:

Originally Posted by Arkie

Gold will spike 100% at the end of the cycle due to speculative mania. I think the cycle will end sometime within the next couple years, specifically mid-2010. I think it could be anywhere from $1500-2500, then it will drop 50% almost as quickly as it spiked.

Ok I will bet you 1 ounce of gold that it doesn't reach 2000 by the middle of 2010. I have like 20 1 ounce coins so it won't be a problem for me to pay up.

cutthemdown · 10-08-2009, 01:05 PM

Quote:

Originally Posted by Tombstone RJ

Its the whole "Cash For Gold" scam. It's totally screwing everyone. Flooding the market with recycled gold.

I say invest in pyrite... be ahead of the curve.

National Geographic did a great piece on gold about a yr ago. According to them most of the gold ever mined still in existence. Like you said it gets recycled.

Over 80% of the demand for gold is still for Jewelry not investment to hold onto.

And even though people think there is a lot of gold, you could only fill a couple olympic sized swimming pools with all the gold that has ever been mined.

cutthemdown · 10-08-2009, 01:07 PM

If an ounce is to much for you Arkie we can just bet something like having to make a thread once a week saying how great I am, Or me the same for you!!!!

Your choice

cutthemdown · 10-08-2009, 01:08 PM

Quote:

Originally Posted by Arkie

Gold will spike 100% at the end of the cycle due to speculative mania. I think the cycle will end sometime within the next couple years, specifically mid-2010. I think it could be anywhere from $1500-2500, then it will drop 50% almost as quickly as it spiked.

Also the last time I challeneged someone was the draft. This guy, cant remember his name, swore Rey Malauga would slide out of first. I said 100 bucks says he doesn't. He wouldn't bet!!!!

He would have won.

cutthemdown · 10-08-2009, 01:10 PM

Quote:

Originally Posted by Garcia Bronco

Not often at all. It's a commodity just like oil. And it'll burst just like oil. So if you are getting now you'll lose money.

It's hard to buy gold when its over 1000 an ounce.

The thing is unless you have a ton, will make a ton of money, it's not worth selling. For little investors the service charge of exchanging and buying gold cuts into it.

Also any real amounts of gold need to be stored and that costs money.

For the avg Joe Silver usually a better bet.

Arkie · 10-08-2009, 05:40 PM

Sassy started this thread two years ago. We were speculating if gold would ever break $1000. Some us (Baja and I) were talking about $2000. Strangly, this 10-page thread died on 3/3/08 just 10 days before gold broke $1000.

http://www.orangemane.com/BB/showthread.php?t=62814

Arkie · 11-09-2009, 08:21 AM

Gold went over $1100 last Friday. It's been above $1100 all morning, and nobody even noticed. We are becoming desensitized. There was more hysteria on the rise through the 800s and 900s. I think the Bigs will take it up to $1250 or so, then sell it off, and try to shake out the little guys. It will be a great buying opportunity at $850, then its taking off for $2000+

ak1971 · 11-09-2009, 08:27 AM

Quote:

Originally Posted by Arkie

Gold went over $1100 last Friday. It's been above $1100 all morning, and nobody even noticed. We are becoming desensitized. There was more hysteria on the rise through the 800s and 900s. I think the Bigs will take it up to $1250 or so, then sell it off, and try to shake out the little guys. It will be a great buying opportunity at $850, then its taking off for $2000+

couldnt agree with you more...are you going to short anything to try to take advantage of the bounce?

baja · 11-09-2009, 09:38 AM

Damn I made a bad investment

baja · 11-09-2009, 09:39 AM

Quote:

Originally Posted by Arkie

Gold went over $1100 last Friday. It's been above $1100 all morning, and nobody even noticed. We are becoming desensitized. There was more hysteria on the rise through the 800s and 900s. I think the Bigs will take it up to $1250 or so, then sell it off, and try to shake out the little guys. It will be a great buying opportunity at $850, then its taking off for $2000+

This is the popular reasoning but I don't think we will see a sell off.

ak1971 · 11-09-2009, 09:46 AM

Quote:

Originally Posted by baja

This is the popular reasoning but I don't think we will see a sell off.

the BVI is at an all time high!....run!

Arkie · 11-09-2009, 10:07 AM

Quote:

Originally Posted by ak1971

couldnt agree with you more...are you going to short anything to try to take advantage of the bounce?

I'm not. The only thing about gold that I'm more sure of than breaking the $2000 barrier, is that it's very volatile. Guessing the timing is like guessing who's going to win MNF tonight. (Go Broncos!) If you sell over $2000, then anything under, even $1999 is a good buy. $850 is a great buy, but I'm not going to risk what I have to get it. I'm just not as confident that we'll see $850 before $2000. I think it will happen, but not enough to risk it, or pay capital gains taxes, or pay the premium to buy it back. It's a lot easier to bet on the underdogs tonight and take the points. lol

ak1971 · 11-09-2009, 11:27 AM

Quote:

Originally Posted by Arkie

I'm not. The only thing about gold that I'm more sure of than breaking the $2000 barrier, is that it's very volatile. Guessing the timing is like guessing who's going to win MNF tonight. (Go Broncos!) If you sell over $2000, then anything under, even $1999 is a good buy. $850 is a great buy, but I'm not going to risk what I have to get it. I'm just not as confident that we'll see $850 before $2000. I think it will happen, but not enough to risk it, or pay capital gains taxes, or pay the premium to buy it back. It's a lot easier to bet on the underdogs tonight and take the points. lol

I put a hedge on with some other stuff a few weeks ago...now with this spike over the past week, I think I was waaaay to early.

baja · 11-09-2009, 01:38 PM

I never looked at gold as a way to make 'money'.

watermock · 11-09-2009, 02:36 PM

I pasted an article how gold price on the comex is fixed (in particular by the US fed) even more than oil.

China and India are hoarding Gold both privately and publicly, along with other commodities both refined and raw because of the uncertainty of the dollar.

If all the options were taken delivery of, the spike in gold would be at least 1000.

Why? Crude Oil is worthless unless it's refined and consumed, all the gold in the world could be placed in 1 vault for a million years..there is no place to even put all the oil if it were to be taken delivery of.

ak1971 · 11-10-2009, 06:50 AM

Quote:

Originally Posted by baja

I never looked at gold as a way to make 'money'.

trade that **** brother!

Garcia Bronco · 11-10-2009, 07:01 AM

Quote:

Originally Posted by watermock

I pasted an article how gold price on the comex is fixed (in particular by the US fed) even more than oil.

China and India are hoarding Gold both privately and publicly, along with other commodities both refined and raw because of the uncertainty of the dollar.

If all the options were taken delivery of, the spike in gold would be at least 1000.

Why? Crude Oil is worthless unless it's refined and consumed, all the gold in the world could be placed in 1 vault for a million years..there is no place to even put all the oil if it were to be taken delivery of.

Which is why oil has been a good buy.

watermock · 11-10-2009, 09:17 AM

Quote:

Originally Posted by Garcia Bronco

Which is why oil has been a good buy.

Are you prepared to take delivery?

Gonna put a 50,000 tank out back?

Bob · 11-10-2009, 11:56 AM

Quote:

Originally Posted by baja

Boy are you in for a surprise in the near future.

I wonder if people know how much we are printing? How can we have anything but inflation -- and when we do -- Gold will go up at first. But one cannot eat it, and think that a better investment for average folks are those simple preparations one can take of having some extra food, etc.

Tombstone RJ · 11-11-2009, 03:11 PM

Quote:

Originally Posted by watermock

I pasted an article how gold price on the comex is fixed (in particular by the US fed) even more than oil.

China and India are hoarding Gold both privately and publicly, along with other commodities both refined and raw because of the uncertainty of the dollar.

If all the options were taken delivery of, the spike in gold would be at least 1000.

Why? Crude Oil is worthless unless it's refined and consumed, all the gold in the world could be placed in 1 vault for a million years..there is no place to even put all the oil if it were to be taken delivery of.

The thing about gold is that yes, it's a precious metal but it's only real function is for jewelry or for hoarding in a vault somewhere.

In other words, it has no real use (yes, yes, there are some practical applications but overall it's a static commodity).

If everyone's economy tanks, if the world goes into a deep depression, if the US economy goes down the stink hole, what will all of this do to the price of gold? In other words, who is gonna want gold and why would they want it?

What does it matter if you have a billion $ in gold if no one can use it?

I'd rather be financially vested is something that everyone NEEDS. Titanium, platinum, etc...

Just saying...

baja · 11-11-2009, 03:24 PM

Quote:

Originally Posted by Tombstone RJ

The thing about gold is that yes, it's a precious metal but it's only real function is for jewelry or for hoarding in a vault somewhere.

In other words, it has no real use (yes, yes, there are some practical applications but overall it's a static commodity).

If everyone's economy tanks, if the world goes into a deep depression, if the US economy goes down the stink hole, what will all of this do to the price of gold? In other words, who is gonna want gold and why would they want it?

What does it matter if you have a billion $ in gold if no one can use it?

I'd rather be financially vested is something that everyone NEEDS. Titanium, platinum, etc...

Just saying...

It will become the only accepted currency.

Sex for gold...y

Arkie · 11-11-2009, 06:02 PM

Quote:

Originally Posted by Tombstone RJ

The thing about gold is that yes, it's a precious metal but it's only real function is for jewelry or for hoarding in a vault somewhere.

In other words, it has no real use (yes, yes, there are some practical applications but overall it's a static commodity).

If everyone's economy tanks, if the world goes into a deep depression, if the US economy goes down the stink hole, what will all of this do to the price of gold? In other words, who is gonna want gold and why would they want it?

What does it matter if you have a billion $ in gold if no one can use it?

I'd rather be financially vested is something that everyone NEEDS. Titanium, platinum, etc...

Just saying...

The federal reserve note has no more real practical application than gold. It's just paper if it ever gets to the physical realm. Hundreds of trillions never leave the digital realm of abstract digits. It's mathmatically impossible to repay the black hole of debt, but they will continue to inflate the dollar into nothing.

watermock · 11-11-2009, 06:22 PM

Jeepers. That's insanity defined.

Well, they restocked the casino for banks with $1 dollar chips worth 25 cents yet the only jobs being created are in Governent, eduction and health care. Once again, manufactring takes another hit it won't recover from.

Cap and trade is next. At least for the US, Canada and the EU.

10-08-2009, 05:40 PM	#33
Arkie Ring of Famer Gggggrrrrrr rrrraaaahhh Arrrrhhhn. Join Date: Oct 2003 Posts: 9,080 Adopt-a-Bronco: Quinton Carter	Sassy started this thread two years ago. We were speculating if gold would ever break $1000. Some us (Baja and I) were talking about $2000. Strangly, this 10-page thread died on 3/3/08 just 10 days before gold broke $1000. http://www.orangemane.com/BB/showthread.php?t=62814 Last edited by Arkie; 10-08-2009 at 05:45 PM..

11-09-2009, 02:36 PM	#42
watermock "Hoodie Jr" "Hug me!" Join Date: Jul 2001 Location: Hot Springs, Ouachitah Posts: 77,090	I pasted an article how gold price on the comex is fixed (in particular by the US fed) even more than oil. China and India are hoarding Gold both privately and publicly, along with other commodities both refined and raw because of the uncertainty of the dollar. If all the options were taken delivery of, the spike in gold would be at least 1000. Why? Crude Oil is worthless unless it's refined and consumed, all the gold in the world could be placed in 1 vault for a million years..there is no place to even put all the oil if it were to be taken delivery of. Last edited by watermock; 11-09-2009 at 03:22 PM..

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10-08-2009, 11:06 AM	#27
Tombstone RJ Ring of Famer Old School Join Date: Sep 2002 Location: In the Tetons! Posts: 19,274 Adopt-a-Bronco: WorrellWilliams	Its the whole "Cash For Gold" scam. It's totally screwing everyone. Flooding the market with recycled gold. I say invest in pyrite... be ahead of the curve.

10-08-2009, 01:07 PM	#30
cutthemdown A verbis ad verbera Zimm to HOF Join Date: Mar 2006 Location: Long Beach Posts: 32,424	If an ounce is to much for you Arkie we can just bet something like having to make a thread once a week saying how great I am, Or me the same for you!!!! Your choice

11-09-2009, 08:21 AM	#34
Arkie Ring of Famer Gggggrrrrrr rrrraaaahhh Arrrrhhhn. Join Date: Oct 2003 Posts: 9,080 Adopt-a-Bronco: Quinton Carter	Gold went over $1100 last Friday. It's been above $1100 all morning, and nobody even noticed. We are becoming desensitized. There was more hysteria on the rise through the 800s and 900s. I think the Bigs will take it up to $1250 or so, then sell it off, and try to shake out the little guys. It will be a great buying opportunity at $850, then its taking off for $2000+

11-09-2009, 09:38 AM	#36
baja It is what it Is. Pay attention. Join Date: Apr 2001 Posts: 53,775 Adopt-a-Bronco: Buy My Book	Damn I made a bad investment

11-09-2009, 01:38 PM	#41
baja It is what it Is. Pay attention. Join Date: Apr 2001 Posts: 53,775 Adopt-a-Bronco: Buy My Book	I never looked at gold as a way to make 'money'.

11-11-2009, 06:22 PM	#50
watermock "Hoodie Jr" "Hug me!" Join Date: Jul 2001 Location: Hot Springs, Ouachitah Posts: 77,090	Jeepers. That's insanity defined. Well, they restocked the casino for banks with $1 dollar chips worth 25 cents yet the only jobs being created are in Governent, eduction and health care. Once again, manufactring takes another hit it won't recover from. Cap and trade is next. At least for the US, Canada and the EU.