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Joined: Nov 2002
Posts: 33,750 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,750 Likes: 6 |
Ya'll get rich on gold... What percent is your net worth is in gold?
Conduct is the best proof of character.
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Joined: Oct 2012
Posts: 5,136
Campfire Tracker
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Campfire Tracker
Joined: Oct 2012
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Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands!
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Joined: Jan 2012
Posts: 67,215 Likes: 41
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,215 Likes: 41 |
I haven’t stepped foot in a Big Mac in 30 years. ARRRGGGHHHH I’m an old twat on a web forum.
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Joined: Nov 2002
Posts: 33,750 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,750 Likes: 6 |
Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands! New 2022 Porsche 718 Boxster GTS in coming. 2017 Boxster S sold today. It ain't hard...
Conduct is the best proof of character.
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Joined: Nov 2004
Posts: 10,027 Likes: 3
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,027 Likes: 3 |
Ya'll get rich on gold... What percent is your net worth is in gold? I'm close to 10% in bullion. Probably a little less just depending on what I figure my rental property and home is worth.i was trying to get more before the prices went up. My goal was always to get to 10% of assets in bullion. If I was smart I would have kept more money in stocks but took most of it out when Biden stole the office. I realize now that the dow tracks federal spending more than about anything. If I'd have realized that then I'd have stayed heavy in stocks. I keep getting tempted to get back in but I'm waiting for some kind of correction first. I almost went back in in October when the dow dropped to 32 k. Woulda coulda should. I'm just struggling to be brave when the fundamentals are so bad. I just need to remember that main street and wall street are totally different. Those that don't do gold what is you're backup parachute? Bb
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Joined: Jul 2005
Posts: 23,506
Campfire Ranger
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Campfire Ranger
Joined: Jul 2005
Posts: 23,506 |
Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands! New 2022 Porsche 718 Boxster GTS in coming. 2017 Boxster S sold today. It ain't hard... Pard you rolling deep in social security cash. Dang a Porsche boxster? Us non earning social security check guys are driving a 78 ford ltd.
Then STFU. The rest of your statement is superflous bullshit with no real bearing on this discussion other than to massage your own ego. Suckin' on my titties like you wanted me.
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Joined: May 2003
Posts: 31,282 Likes: 9
Campfire 'Bwana
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Campfire 'Bwana
Joined: May 2003
Posts: 31,282 Likes: 9 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
Cleverly disguised as a responsible adult.
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money.
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Joined: Oct 2012
Posts: 7,624 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2012
Posts: 7,624 Likes: 2 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money. Last 5 years gold and silver is up roughly 83%, that's a 16.5% yearly average, and the dollar hasn't collapsed. . . . . . . . . . . . . . . . . . . . . . . . . . .Yet
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Joined: Dec 2008
Posts: 8,316
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2008
Posts: 8,316 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money. Last 5 years gold and silver is up roughly 83%, that's a 16.5% yearly average, and the dollar hasn't collapsed. . . . . . . . . . . . . . . . . . . . . . . . . . .Yet Gold and silver are not up, the dollar is just down and it takes more dollars to buy an ounce.
"Life is tough, even tougher if your stupid" John Wayne
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Joined: Jul 2006
Posts: 4,843 Likes: 3
Campfire Tracker
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Campfire Tracker
Joined: Jul 2006
Posts: 4,843 Likes: 3 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody? Absolutely. Its called momentum trading/investing/betting whatever you prefer, and its been around forever. Buy high and sell higher is almost as well known as "buy low sell high". The late William O' Neill of Investor's Business Daily made it famous. Like any other approach to speculative markets, it works sometimes.
Last edited by RJY66; 04/11/24.
"Men must be governed by God or they will be ruled by tyrants". --- William Penn
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Joined: Feb 2013
Posts: 6,457
Campfire Tracker
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Campfire Tracker
Joined: Feb 2013
Posts: 6,457 |
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
Creeping up towards $2,400.00 now. Silver threatening $30.00.
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Joined: Nov 2015
Posts: 1,786
Campfire Regular
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Campfire Regular
Joined: Nov 2015
Posts: 1,786 |
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. I always laugh when I read stuff like this. First off, I have my own beans, thank you very much. Gold has been money for millenia. Even J.P. Morgan said "only Gold is money, everything else is credit". The dollar is not money. It is currency...it is a debt note issued by a bank. If you bother to look at history, you will see Gold is a highly liquid asset. What do you think the central bankers around the world are hoarding? Yeah, Gold. They are dumping dollars and buying Gold. While the West burns, the East and South are buying Gold. All Fiat currencies die. The dollar has already lost 99% of its purchasing power vs Gold, just since I became a teenager.So you go ahead and put all your faith in the dollar. Be my guest. I only keep 25% of my net worth in dollars because the trend is not our friend.
USMC 0351
We know the price of everything and the value of nothing.
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Joined: Dec 2013
Posts: 13,127 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,127 Likes: 7 |
Ramsey is an idiot on the topic of gold and silver. I used to listen to Ramsey. He is big on being debt free which is a wonderful idea. I don't quite get the complete dismissal of precious metal. Another thing I couldn't quite understand was his objection to buying ETFs instead of mutual funds and his insistence on hiring a financial advisor (from his approved list of course). There are some good ETFs that track the Russell, or the S&P for the unadventurous. My wife and I both have some of that. I have about 12% in gold and silver mining ETFs because I don't trust the physical metal funds. I bought 200 shares of EIS an Israel ETF that crashed back in October thinking that Israel stocks would rebound, and they did. I bought GUSH a 2X leveraged oil fund in March of 2020 for around $4 and now it's $43.51 today. But I've managed to buy some dogs that lost money also. All in all I bet we've done as well as a financial adviser would have done because we take chances that an adviser never would, and we aren't wealthy enough for an adviser to worry himself about too much.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Oct 2012
Posts: 7,624 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2012
Posts: 7,624 Likes: 2 |
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. I always laugh when I read stuff like this. First off, I have my own beans, thank you very much. Gold has been money for millenia. Even J.P. Morgan said "only Gold is money, everything else is credit". The dollar is not money. It is currency...it is a debt note issued by a bank. If you bother to look at history, you will see Gold is a highly liquid asset. What do you think the central bankers around the world are hoarding? Yeah, Gold. They are dumping dollars and buying Gold. While the West burns, the East and South are buying Gold. All Fiat currencies die. The dollar has already lost 99% of its purchasing power vs Gold, just since I became a teenager.So you go ahead and put all your faith in the dollar. Be my guest. I only keep 25% of my net worth in dollars because the trend is not our friend. Whatchu talkin bout Willis, when Rocky Raab talks, E.F. Hutton listens 😁
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
The fact that silver isn't even close to catching up yet (in terms of ratio) strongly suggests we are still early in this gold bull market.
Keep in mind that from 2001 to 2012, gold made nothing but significant, year to year, gains. That could easily repeat itself.
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Joined: May 2008
Posts: 5,185 Likes: 7
Campfire Tracker
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Campfire Tracker
Joined: May 2008
Posts: 5,185 Likes: 7 |
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick. If the system crashes, how many pounds of federal reserve notes would you accept for a can of beans?
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
Less than $7.00 shy of $2,400.00 now in after hours trading: COMEX
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