|
|
Joined: Jun 2002
Posts: 131,916 Likes: 50
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 50 |
Could you give us some future examples?
I assume you're joking.
|
|
|
|
|
Joined: Nov 2000
Posts: 2,810
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2000
Posts: 2,810 |
Good points! I’m reduced to investing in silver, simply because it’s more affordable. I think it’s a good investment also Far more historically undervalued right now, vs gold, so has a much better upside potential than gold. A lot of folks got left holding the bag from the Hunt debacle. Who knows how much is still out there.
|
|
|
|
|
Joined: Feb 2008
Posts: 13,607
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Feb 2008
Posts: 13,607 |
Op is just trying to sell you all on buying Bitcoin as the new gold. Mr "big investor" is a paper handed dabbler trying to be important on the internet. You only have to look at his posts so see. Real men who are capable and sure of themselves don't need to puff themselves up and try to put other people down for others to see they are relevant. Just my opinion, before long his buddy striker something will jump in to back him up, another telltale of a blow hard. Gold will always be gold. As with any investment do your research and make the best choice you feel is right.
Thank you too all the veterans out there!
Beware of any old man in a profession where one usually dies young.
Calm seas don't make sailors.
|
|
|
|
|
Joined: Apr 2010
Posts: 20,683
Campfire Ranger
|
|
Campfire Ranger
Joined: Apr 2010
Posts: 20,683 |
I don’t see pm’s as an investment, more akin to insurance imo. One time premium unlike other insurance.
But I also like being debt free, admittedly old fashioned here.
I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
|
|
|
|
|
Joined: Nov 2002
Posts: 33,790 Likes: 11
Campfire 'Bwana
|
|
Campfire 'Bwana
Joined: Nov 2002
Posts: 33,790 Likes: 11 |
That puts a damper on the gold bugs that suppose gold will go to the moon and they'll be rich! Gold may very well be worth $50,000 an ounce some day, but if you've got 50 ounces, don't think you'll become a "millionaire" by some previous era's conception. Your millions will buy 50 suits or 50 colt revolvers. Even so, in the long-term, it's beaten every fiat currency ever. Actually, when gold goes to the moon, there is always an overshoot. In other words, gold can fluctuate from way undervalued to way overvalued. 1980 was an example of the latter. If you had purchased 50 ounces in 1973 for $100.00 an ounce (a $5,000.00 investment) and sold them for $800.00 an ounce in 1980, your purchasing power increased quite a lot in real terms, since you'd be in possession of $40,000.00, i.e., a gain of $35,000 over a seven year period. Similarly, if you had purchased 50 ounce in 2001 for $270.00 per ounce, and sold them in 2011 for $1,896.00 an ounce, you would have turned $13,500.00 into $94,800.00. That's a significant increase in real purchasing power, i.e., wealth, despite dollar price inflation. That's a gain of $81,300 over a ten year period. Both examples beat inflation by quite a lot. All hypothetical buying low and selling high. The same can be said for Wall Street of which I have done well without hoping for buy low and sell high... I was responding to Juniper who implied that the best you could hope for with metals was to keep up with inflation. I demonstrated that this is not actually the case. So your are just looking to keep up with inflation?
Conduct is the best proof of character.
|
|
|
|
|
Joined: Jun 2002
Posts: 131,916 Likes: 50
Campfire Sage
|
|
Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 50 |
That puts a damper on the gold bugs that suppose gold will go to the moon and they'll be rich! Gold may very well be worth $50,000 an ounce some day, but if you've got 50 ounces, don't think you'll become a "millionaire" by some previous era's conception. Your millions will buy 50 suits or 50 colt revolvers. Even so, in the long-term, it's beaten every fiat currency ever. Actually, when gold goes to the moon, there is always an overshoot. In other words, gold can fluctuate from way undervalued to way overvalued. 1980 was an example of the latter. If you had purchased 50 ounces in 1973 for $100.00 an ounce (a $5,000.00 investment) and sold them for $800.00 an ounce in 1980, your purchasing power increased quite a lot in real terms, since you'd be in possession of $40,000.00, i.e., a gain of $35,000 over a seven year period. Similarly, if you had purchased 50 ounce in 2001 for $270.00 per ounce, and sold them in 2011 for $1,896.00 an ounce, you would have turned $13,500.00 into $94,800.00. That's a significant increase in real purchasing power, i.e., wealth, despite dollar price inflation. That's a gain of $81,300 over a ten year period. Both examples beat inflation by quite a lot. All hypothetical buying low and selling high. The same can be said for Wall Street of which I have done well without hoping for buy low and sell high... I was responding to Juniper who implied that the best you could hope for with metals was to keep up with inflation. I demonstrated that this is not actually the case. So your are just looking to keep up with inflation? Reading comprehension difficulties?
|
|
|
|
|
Joined: Jan 2007
Posts: 11,599 Likes: 8
Campfire Outfitter
|
Campfire Outfitter
Joined: Jan 2007
Posts: 11,599 Likes: 8 |
Let's see everyone that unloaded cash for gold ( around 2000) or wores sold property for gold, still has not got back their investment but property is sky rocking ...
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
It worked beautifully as a hedge during the February 2020 crash. You can't argue with that.
Should an investor have switched from gold to the S&P500 in April to take advantage of the Fed-fueled run-up in stocks? Sure, or they could have speculated on BTC or a meme stock. That doesn't mean that Gold is dysfunctional. Besides, we haven't seen a collapse of the dollar-based monetary system yet. A lot of gold holders are actually hedging that. It does, afterall, seem inevitable. The problem is that holding gold and waiting for it casts you as a doomsday prophet like Peter Schiff. He's not irrational, but his rhetoric can easily be dismissed by those seeking shorter term profits.
Now consider this. If Gold has sucked so much lately, doesn't that make it a bargain right now in a market where almost nothing else is? I mean, what else can you buy? More TSLA? Some Zillow houses? or whatever Cathy Wood likes? It's all ridiculously overpriced. Gold has never been overpriced, but you can pay too much in premiums or fees. No it's not a good buy or a good store of value. A month doesn't make a crash either. Some very well known big name Gold holders are selling to replace with Bitcoin and some may dive into Blockchains. Can't argue that gold has always underperformed Crypto! But then again even the Stock Market does that in the long run. Cathy Wood makes money, thought I am not a fan. I would never invest in TSLA, I am not an Elon fan and don't like his games. Micro Strategies would be a solid investment, as would IDXX. Both crush Gold! I do hold real estate and think everyone should. Again a much better hedge than Gold.
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
Gold mostly follows the money supply of the world. I should go up but is close to it's 52 week low. I dont hold physical gold but have a 1.25% of gold interest in my portfolio and I am up about 5% or so in 7 months. I bought 2 gold trusts. I also bought Newmount , Kirkland, and Kinross and a gold miners ETF. The reason gold should go up is the United States printed enough money to buy 1/3 of the worlds gold reserves. This is why I think it will do very well. However , 5% is not very good . I was up 13 % cause it went up right when I bought it but came way down. The last week it did very good. 5% nor 13% beats the 14% inflation at a minimum so exactly what did you get with your investment?
Last edited by MontanaCreekHunter; 11/11/21.
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
Agreed; you’ve done your research! Price has been purposely kept low and manipulated for decades Someone has been paying attention!
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
Op is just trying to sell you all on buying Bitcoin as the new gold. Mr "big investor" is a paper handed dabbler trying to be important on the internet. You only have to look at his posts so see. Real men who are capable and sure of themselves don't need to puff themselves up and try to put other people down for others to see they are relevant. Just my opinion, before long his buddy striker something will jump in to back him up, another telltale of a blow hard. Gold will always be gold. As with any investment do your research and make the best choice you feel is right.
Thank you too all the veterans out there! Tell us about your Shiba I promise I won't laugh!!!!!!
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Dec 2020
Posts: 197
Campfire Member
|
|
Campfire Member
Joined: Dec 2020
Posts: 197 |
The gold to silver rato goes like this. 1 to 8 out of the ground. 1 to 20 when it was USA money up to 1932. Present day 1 to 74. The current price is 1/2 of the nominal price in 1980. Silver is on sale. Get it while you can.
It doesn't matter who gets more votes, It matters who counts the votes.
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
Look at this old video and just how wrong Shiff was. Pomp has come a long ways since then. The youngster proved Shiff wrong then and still today! https://youtu.be/Wigz8z6Vm3U
Last edited by MontanaCreekHunter; 11/12/21.
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Oct 2021
Posts: 2,870
Campfire Regular
|
|
Campfire Regular
Joined: Oct 2021
Posts: 2,870 |
|
|
|
|
|
Joined: Feb 2013
Posts: 21,950 Likes: 13
Campfire Ranger
|
|
Campfire Ranger
Joined: Feb 2013
Posts: 21,950 Likes: 13 |
... or whatever Cathy Wood likes? Cathie Wood is pissing me off at the moment.
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
|
|
|
|
|
Joined: Oct 2021
Posts: 2,870
Campfire Regular
|
|
Campfire Regular
Joined: Oct 2021
Posts: 2,870 |
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
This is well worth a watch and Saylor does a great job here. https://youtu.be/coHC_9ApBdg
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
Joined: Feb 2008
Posts: 13,607
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Feb 2008
Posts: 13,607 |
Op is just trying to sell you all on buying Bitcoin as the new gold. Mr "big investor" is a paper handed dabbler trying to be important on the internet. You only have to look at his posts so see. Real men who are capable and sure of themselves don't need to puff themselves up and try to put other people down for others to see they are relevant. Just my opinion, before long his buddy striker something will jump in to back him up, another telltale of a blow hard. Gold will always be gold. As with any investment do your research and make the best choice you feel is right.
Thank you too all the veterans out there! Tell us about your Shiba I promise I won't laugh!!!!!! Sure, I'm up 300% in 3 months and this things just getting going. Crypto is a long term hold so even though it's not jumping by leaps and bounds this week it will continue to grow. Bitcoin didn't grow overnight either, I would have thought you'd know that it took over a decade and started out as fractions of a penny. Tell us how and when you got into Bitcoin and how much you made. I'm not surprised for all of your supposed knowledge on crypto you'd make such a foolish statement. It's right in line with your take on gold and verifies my above post perfectly. Paper handed blow hard should be your new name lol.
Beware of any old man in a profession where one usually dies young.
Calm seas don't make sailors.
|
|
|
|
|
Joined: Feb 2008
Posts: 13,607
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Feb 2008
Posts: 13,607 |
Beware of any old man in a profession where one usually dies young.
Calm seas don't make sailors.
|
|
|
|
|
Joined: Jun 2008
Posts: 13,357
Campfire Outfitter
|
|
OP
Campfire Outfitter
Joined: Jun 2008
Posts: 13,357 |
Op is just trying to sell you all on buying Bitcoin as the new gold. Mr "big investor" is a paper handed dabbler trying to be important on the internet. You only have to look at his posts so see. Real men who are capable and sure of themselves don't need to puff themselves up and try to put other people down for others to see they are relevant. Just my opinion, before long his buddy striker something will jump in to back him up, another telltale of a blow hard. Gold will always be gold. As with any investment do your research and make the best choice you feel is right.
Thank you too all the veterans out there! Tell us about your Shiba I promise I won't laugh!!!!!! Sure, I'm up 300% in 3 months and this things just getting going. Crypto is a long term hold so even though it's not jumping by leaps and bounds this week it will continue to grow. Bitcoin didn't grow overnight either, I would have thought you'd know that it took over a decade and started out as fractions of a penny. Tell us how and when you got into Bitcoin and how much you made. I'm not surprised for all of your supposed knowledge on crypto you'd make such a foolish statement. It's right in line with your take on gold and verifies my above post perfectly. Paper handed blow hard should be your new name lol. Comparing a meme coin to Bitcoin or even layer one’s shows just how dumb you really are. But please continue!
Eat Fish, Wear Grundens, Drink Alaskan.
|
|
|
|
|
538 members (1lessdog, 2500HD, 1minute, 1badf350, 10ring1, 10gaugemag, 61 invisible),
2,545
guests, and
1,158
robots. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Forums81
Topics1,193,782
Posts18,515,787
Members74,017
| |
Most Online11,491
Jul 7th, 2023
|
|
|
|
![[Linked Image from media.giphy.com]](https://media.giphy.com/media/eM16dA4eiatuyUs3rA/giphy.gif)
![[Linked Image from media.giphy.com]](https://media.giphy.com/media/l1J9u3TZfpmeDLkD6/giphy.gif)