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Joined: Jun 2002
Posts: 132,114 Likes: 68
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,114 Likes: 68 |
Sure. I buy it whenever I'm holding too much cash.
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Good grief.....not again!
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Jan 2006
Posts: 69,594 Likes: 28
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,594 Likes: 28 |
If the so called experts knew it was going that high, they'd be buying everything they could get, and keeping their mouths SHUT until they could get it. All this will do is artificially push the price up.
βIn a time of deceit telling the truth is a revolutionary act.β β George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Jun 2002
Posts: 132,114 Likes: 68
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,114 Likes: 68 |
If the so called experts knew it was going that high, they'd be buying everything they could get, and keeping their mouths SHUT until they could get it. All this will do is artificially push the price up. There might well be something to what you say, but it cannot be argued that Obama's policies are not hugely inflationary, which means that the value of gold, as measured by US dollars, is only going in one direction for the foreseeable future, regardless of the current sticking point around a grand per ounce. That sticking point is what's artificial at this time.
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Yep....merely another gold bug commercial. Big sellers manipulating the small time buyers.Same old, same old!
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Aug 2003
Posts: 39,411 Likes: 67
Campfire 'Bwana
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Campfire 'Bwana
Joined: Aug 2003
Posts: 39,411 Likes: 67 |
Compare that piece to this - and then come to somewhere in the middle - most likely outcome. this
Me
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Joined: Sep 2007
Posts: 13,268
Campfire Outfitter
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Campfire Outfitter
Joined: Sep 2007
Posts: 13,268 |
If the economy gets in the shape where gold goes up by a factor of 5 we won't be saying gold is worth $5,000 an ounce. The value of a dollar will be non existent and gold will be just gold or valued at some other good/service.
Otto is my co-pilot.
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Joined: Dec 2006
Posts: 7,681
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2006
Posts: 7,681 |
Until the government sets the price of gold at some artificially low number and requires all Americans to turn it in for that price.
Be the person your dog thinks you are.
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Joined: Dec 2006
Posts: 52,680
Campfire Kahuna
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Campfire Kahuna
Joined: Dec 2006
Posts: 52,680 |
Tod...Even if they did do that, there is no way they could enforce it.......the logistics of doing so would be insurmountable..
I agree that the guy on the video is in the selling end....nothing like trying to stimulate a market on fear or greed.
Liberalism is a mental disorder that leads to social disease.
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Joined: Dec 2006
Posts: 7,681
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2006
Posts: 7,681 |
It's been done before.
From Wikipedia
Executive Order 6102 is an Executive Order signed on April 5, 1933 by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens.
The Order required U.S. citizens to deliver on or before May 1, 1933 all but a small amount gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of Executive Order 6102 was punishable by fine up to $10,000 ($166,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both. The price of gold from the treasury for international transactions was thereafter raised to $35 an ounce; this had no lasting effect on the value of the dollar, which henceforth was determined by its value relative to other world currencies, and which had been "hyper-valued" by the severe deflation of the previous three years.
Be the person your dog thinks you are.
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Joined: Jun 2002
Posts: 132,114 Likes: 68
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,114 Likes: 68 |
It's been done before.
From Wikipedia
Executive Order 6102 is an Executive Order signed on April 5, 1933 by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens.
The Order required U.S. citizens to deliver on or before May 1, 1933 all but a small amount gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of Executive Order 6102 was punishable by fine up to $10,000 ($166,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both. The price of gold from the treasury for international transactions was thereafter raised to $35 an ounce; this had no lasting effect on the value of the dollar, which henceforth was determined by its value relative to other world currencies, and which had been "hyper-valued" by the severe deflation of the previous three years. Bad money drove good money out of circulation, i.e., people horded gold and silver.
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Joined: Apr 2003
Posts: 6,088
Campfire Tracker
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Campfire Tracker
Joined: Apr 2003
Posts: 6,088 |
$3500 this leg.....Isaac isn't a believer, but that too will change.
Tony
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Quit Bogarting that joint, Tony.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Apr 2003
Posts: 6,088
Campfire Tracker
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Campfire Tracker
Joined: Apr 2003
Posts: 6,088 |
Whats up dude....
House is FINALLY done, closing is July 17. Can't wait to get out of Lake Manassas.
Neighbors are lucky it isn't deer season....I'd have one hanging in the front yard, just as a parting gift to the HOA.
BTW, I could use a lawyer with a stong back to help me move my bullion.....
Tony
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Joined: Nov 2006
Posts: 34,261
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2006
Posts: 34,261 |
I have an oil ETF and oil is going up on inflation speculation. All serious mutual funds are also speculating in oil because the dollar is crashing.
The only way that the dollar doesn't crash is if the Feds raise the over night rate to around 5% and the long bonds go to 25 to 30%. The odds of that happening is slim to none at all.
The other thing that will save the dollar and destroy the economy is the largest tax increase in history.
Look for 50% unemployment in the next 4 years if Obama has his way.
Don't vote knothead, it only encourages them. Anonymous
"Never underestimate the power of stupid people in large groups." Anonymous
"Self-reliance, free thinking, and wealth is anathema to both the power of the State and the Church." Derby Dude
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Joined: Apr 2004
Posts: 61,130
Campfire Kahuna
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Campfire Kahuna
Joined: Apr 2004
Posts: 61,130 |
Whats up dude....
House is FINALLY done, closing is July 17. Can't wait to get out of Lake Manassas.
Neighbors are lucky it isn't deer season....I'd have one hanging in the front yard, just as a parting gift to the HOA.
BTW, I could use a lawyer with a stong back to help me move my bullion.....
Tony Tony; Can you say "damage permit"? I thought you could....... and a fitting parting gift it would be.
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Joined: Apr 2003
Posts: 6,088
Campfire Tracker
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Campfire Tracker
Joined: Apr 2003
Posts: 6,088 |
Man, ton of deer in the development I am moving to. Had 15 in my front yard just before they start to build back in April.
Already got a few spots picked out for archery.
Tony
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Joined: Dec 2006
Posts: 7,681
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2006
Posts: 7,681 |
Look for 25% unemployment in the next 4 years no matter what.
I used to think gold. Now I'm buying guns and ammo.
China is going to US its treasuries to buy commodities, particularly oil. A couple of the Chinese oil companies and their proxies are planning on bidding on rights to develop the Iraq oil fields. Wouldn't it be ironic of the US fought in Iraq so that China could control their oil?
If China can get out from underneath the US debt they own, they won;t have as much incentive to keep buying treasuries. That could be ugly.
Be the person your dog thinks you are.
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Happy to help you anytime.
Congrats on your new home. I know you've been waiting a good while to find the right place. You've finally made your wise investment.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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