Gold is now a bad investment.

[peacepipe]

Originally Posted by Arkie

2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1096.50
2010 -- $1421.40
2011 -- $1531.00
2012 -- $1675.00

Anyone notice the trend,with bad economy gold rises,when this economy gets back on its feet,I'm not going to feel bad for those that bought gold thinking it was a good investment.

[mhgaffney]

[QUOTE=peacepipe;3770875]Anyone notice the trend,with bad economy gold rises,when this economy gets back on its feet,I'm not going to feel bad for those that bought gold thinking it was a good investment.[/QUOTE]

Surely you jest.

Evidently you have been duped into thinking there is a recovery. How can there be a recovery with no jobs? It's just propaganda.

The fed printed $40 billion in QE 3 and gave it to the bankers at zero or near zero interest. Did they invest the cash in the real economy? That might have spurred a true recovery. But no the banksters bought US Treasury bonds which have a guaranteed 2% return.

Free money for them. No new jobs for the people.

As for the gold -- notice when the price started up -- Sept 11, 2001.

Only the plunge protection team has kept the price of gold and silver down. It is being manipulated down here in the US -- while the trend in China, Europe and elsewhere is to move higher.

MHG

[peacepipe]

[QUOTE=mhgaffney;3770952]

Originally Posted by peacepipe

Anyone notice the trend,with bad economy gold rises,when this economy gets back on its feet,I'm not going to feel bad for those that bought gold thinking it was a good investment.[/QUOTE]

Surely you jest.

Evidently you have been duped into thinking there is a recovery. How can there be a recovery with no jobs? It's just propaganda.

The fed printed $40 billion in QE 3 and gave it to the bankers at zero or near zero interest. Did they invest the cash in the real economy? That might have spurred a true recovery. But no the banksters bought US Treasury bonds which have a guaranteed 2% return.

Free money for them. No new jobs for the people.

As for the gold -- notice when the price started up -- Sept 11, 2001.

Only the plunge protection team has kept the price of gold and silver down. It is being manipulated down here in the US -- while the trend in China, Europe and elsewhere is to move higher.

MHG

Yeah,I forgot it's the end of the world,no chance the economy ever rebounds.

[peacepipe]

http://www.huffingtonpost.com/huff-w...ge&ir=homepage

THEASSOCIATED PRESS | January 4, 2013 04:19 PM EST |

Gold is closing lower for a sixth straight week, its longest losing streak in eight years.

Gold lost $25.70 to settle at $1,648.90 an ounce Friday. It's now 8 percent below the recent peak of $1,792 an ounce it reached on Oct. 4. It rose as high as $1,900 an ounce in August 2011.

The latest decline came after the Federal Reserve released minutes of its December meeting showing that policymakers disagreed over how long to keep a bond-purchase program in place.

Traders inferred the Fed might shorten the program, which could send U.S. interest rates, and therefore the dollar, higher. That in turn would hurt the price of gold, which investors often buy as an alternative to holding dollars.

Other metals fell. Energy prices were mixed. Grains were lower.

[mhgaffney]

[QUOTE=peacepipe;3770955]

Originally Posted by mhgaffney

Yeah,I forgot it's the end of the world,no chance the economy ever rebounds.

You made two statements -- one was right.

You and many others simply will not face reality -- you are being told what you want to hear -- that things are getting better -- and you swallow it.

How can things be better? The problems that created the 2008 melt down were not fixed. If anything -- it's worse now.

The fed keeps kicking the can down the road. Meanwhile they mollify naive people like you via their media outlets (CBS, ABC, CNN etc)

You are also missing the fact that much of the market -- especially gold -- is being manipulated (shorted) downward. The present price is an artifact.

The terrible economy is pushing gold up -- it keeps trying to go up. The plunge protection team has to work overtime t keep it down.

Gold is the weathervane. The fed cannot allow gold to seek its real price. At some point, however, the manipulation will fail - -and gold will soar over 2000/ ounce.

MHG

[broncocalijohn]

Gold holds it weight in...well, gold. Gold is being bought like people buying Semi auto rifles and that is fear. If I owned gold, I know that if anything happened to the economy of a total crash, I have something that people will want and barter. Useless paper money will be good to burn and keep warm. Gold is that insurance from total fear.

Plus it is shiny and pretty to look at.

[peacepipe]

[QUOTE=mhgaffney;3771022]

Originally Posted by peacepipe

You made two statements -- one was right.

You and many others simply will not face reality -- you are being told what you want to hear -- that things are getting better -- and you swallow it.

How can things be better? The problems that created the 2008 melt down were not fixed. If anything -- it's worse now.,

The fed keeps kicking the can down the road. Meanwhile they mollify naive people like you via their media outlets (CBS, ABC, CNN etc)

You are also missing the fact that much of the market -- especially gold -- is being manipulated (shorted) downward. The present price is an artifact.

The terrible economy is pushing gold up -- it keeps trying to go up. The plunge protection team has to work overtime t keep it down.

Gold is the weathervane. The fed cannot allow gold to seek its real price. At some point, however, the manipulation will fail - -and gold will soar over 2000/ ounce.

MHG

People thought the same thing back during the depression, and there were people who thought the same thing during previous recessions. It's sluggish but the economy will get back on its feet.

[peacepipe]

Originally Posted by broncocalijohn

Gold holds it weight in...well, gold. Gold is being bought like people buying Semi auto rifles and that is fear. If I owned gold, I know that if anything happened to the economy of a total crash, I have something that people will want and barter. Useless paper money will be good to burn and keep warm. Gold is that insurance from total fear.

Plus it is shiny and pretty to look at.

But when the value drops to say 200 dollars an ounce,what then? This country isn't going back to the gold standard nor is the dollar going to become useless.

[Arkie]

Gold will never go below $1500/oz again.

[broncocalijohn]

Originally Posted by peacepipe

But when the value drops to say 200 dollars an ounce,what then? This country isn't going back to the gold standard nor is the dollar going to become useless.

If you are going to give a scenario, give an accurate one. We all know you love Obama but I don't care who the president is now or in the future, it will not drop to $200 an ounce unless an astroid blows up before hitting earth and sprinkles masses of gold onto the planet (you will need it to repair your homes and cars). We don't need to go back to the gold standard to understand that gold is king of all currency, backed or not. Personally, I would feel a lot better with a standard then trust my Country. I love my God but he isn't going to interfere with the country's currency system. There is a much bigger chance that the dollar will become inflated beyond we can imagine then gold prices drop 80%. You have way too much faith in our country. The one that is trillion dollars in debt.

[BABronco]

Originally Posted by peacepipe

But when the value drops to say 200 dollars an ounce,what then? This country isn't going back to the gold standard nor is the dollar going to become useless.

http://www.infoplease.com/ipa/A0001519.html
No? Look at the chart. Look up to 1913, the creation of the Federal Reserve Bank, and watch your purchasing power decrease. Go to 1970, one year before we were taken off the the gold standard, and watch how much more purchase power you had before.

Now tell me how the dollar is not going to be worthless. According to charts it lost 95% of its value since 1913.

http://www.nma.org/pdf/gold/his_gold_prices.pdf
Since 1971 when Nixon took us off the gold standard an oz of gold was worth $40.62. At the end of 2011 gold was $1,571.52 an oz. From 1912 to 1971 the average price of gold was around $30 an oz.

Do you notice how the value of the dollar has changed for the worse? Do you see the correlation between the value of your dollar and the price of gold?

[peacepipe]

Originally Posted by BABronco

http://www.infoplease.com/ipa/A0001519.html
No? Look at the chart. Look up to 1913, the creation of the Federal Reserve Bank, and watch your purchasing power decrease. Go to 1970, one year before we were taken off the the gold standard, and watch how much more purchase power you had before.

Now tell me how the dollar is not going to be worthless. According to charts it lost 95% of its value since 1913.

http://www.nma.org/pdf/gold/his_gold_prices.pdf
Since 1971 when Nixon took us off the gold standard an oz of gold was worth $40.62. At the end of 2011 gold was $1,571.52 an oz. From 1912 to 1971 the average price of gold was around $30 an oz.

Do you notice how the value of the dollar has changed for the worse? Do you see the correlation between the value of your dollar and the price of gold?

Keep dreaming.

[peacepipe]

Originally Posted by Arkie

Gold will never go below $1500/oz again.

Keep thinking that, I'll laugh at the misfortune of those who believe as you when gold prices plummet.

[Meck77]

Ok peacepipe. Gold is a bad investment. Got it.

Where does a financial guru like you invest his money?

[DenverBrit]

Originally Posted by Meck77

Ok peacepipe. Gold is a bad investment. Got it.

Where does a financial guru like you invest his money?

Dividend stocks, where the savvy invest.

[Meck77]

Most people just don't understand golds wealth preservation and inverse relationship with the dollar.

Take today for example. Market's down across the board yet gold is up almost a 1% as I type this. http://www.marketwatch.com/

Well anyway let's see what "hittingthepipe" recommends as a good investment.

[Arkie]

Originally Posted by peacepipe

But when the value drops to say 200 dollars an ounce,what then? This country isn't going back to the gold standard nor is the dollar going to become useless.

And that's one reason why gold goes up year after year. It would stay the same price if it were tied to the dollar.

[peacepipe]

Originally Posted by Arkie

And that's one reason why gold goes up year after year. It would stay the same price if it were tied to the dollar.

Really,gold was steady at around $400 the 90s,it wasn't skyrocketing until our economy started sinking in the 2000s. Hell it stayed low even through a lot of the 80s.

http://goldratefortoday.org/explaining-gold-rate/

[peacepipe]

You'll notice the other time we had a spike in gold prices was during another recession in the late 70s & early 80s.

[Meck77]

Originally Posted by peacepipe

You'll notice the other time we had a spike in gold prices was during another recession in the late 70s & early 80s.

I noticed you weren't capable of answering my question.

[peacepipe]

Originally Posted by Meck77

I noticed you weren't capable of answering my question.

Didn't even know that you had a question,its a great investment if you bought gold in the 90s and sold it in the 2000s. If you held onto it your stuck with it. It's like any stock buy low sell high.

[Arkie]

Like you posted, Gold is 8% from it's most recent peak. I see this as a buying opportunity. To make the most profit, you buy on the dips during a major bull run. There are still no signs of a long term bear market in gold. The Dow/gold ratio will be close to 1 before it turns around.

[baja]

Originally Posted by Arkie

Like you posted, Gold is 8% from it's most recent peak. I see this as a buying opportunity. To make the most profit, you buy on the dips during a major bull run. There are still no signs of a long term bear market in gold. The Dow/gold ratio will be close to 1 before it turns around.

Please explain.

[Arkie]

Originally Posted by baja

Please explain.

The Dow/Gold ratio is the DJIA divided by the price of gold/oz. Stocks are the best buy when the ratio begins to rise. Hold stocks for decades as the ratio gets bigger. Keep buying stocks on the dips. It was good time to buy stocks in 1980. The ratio was about 1/1 (866dow/850oz gold)

The best time to buy gold is when that ratio is at it's peak. In hindsight, we know that was 1999-2000 when it was above 40/1. The peaks in the ratio are getting higher. If the dips get lower, it could go below one.

Translation: the trend points at gold eventually trading at a price higher than the dow which is above 13,000 today. It will likely be lower if gold matches or exceeds it, but who knows?

[cutthemdown]

I love the few bars of silver that i have. But i sold my gold to buy things i needed. I only had a couple ounces though. I think if it went to a barter economy i could survive by trading my sax playing. Remember the blind one in Mad maxx Thunderdome that played for Tina Turner? Huh what do you think?