Gold above $1700!!

Did anyone notice that gold just hit $1700? Sweet!!

 

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Yeah and the value of your dollar bills are falling at the same time! I hope you have no investments that are in USD. You must be so happy! Your home's value is falling also! YES! What a great day it is!

 

I normally see the dollar decline in exact proportion to the euro when gold goes up Gold has been $1000 euros forever. Now is is above the moving average which means that gold is overpriced unless something absurd happens .. like an S&P ratings downgrade....

 

well...

I already put no trust in "dollar bills", my few investments in USD (under 30K) I am still happy with and I don't care if my houses continue to lose value because they are both rented out and I make a profit on them every month. Now on top of that my gold just went up and my silver might too. Today is a good day indeed!

 

Well if the houses you own continue to fall so would the rent received. I'm sure the renters will soon realize they can purchase the same house for the same mortgage payment they have been giving you in rent. You receive a pay check in the mail every two weeks I assume in USD. That paycheck will continue to purchase less items if the dollar keeps declining. Last time I checked gold and silver isn't so liquid. What happens in a time of emergency? Will you sell your gold and silver to a store for 75% of value? A strengthening dollar would help you out much more. However, it is good you diversified so you aren't affected as much as others have been the past few weeks. GLTA!

 

I didn't intend to come off as so naïve or as a braggart, I do realize our country is taking a nose dive and that the future, at least the near future is not looking so great, but it will get better. It just stinks that it has to go so far for people to wake up and see what’s going on. I blame out current generations (35-55) and their parents for this mess.

 

Where did you get that idea? In small amounts, gold and silver are more liquid than stocks and bonds. In somewhat larger amounts it might take a bit longer. In very large amounts such as those held in Comex, I believe it takes 2 days to turn bars into cash.

 

So basically you blame everyone over the age of 34. How old are you?


Gold is now just a few dollars shy of platinum. I never thought they would trade basically at par.

 

Just a thought here..those renters who 'soon realize they can purchase the same house for the same mortgage payment..' often are folks who for some reason or other have chosen to rent instead of purchase, many times because they can't "afford" to purchase...and I am not so sure that mortgages are all that easy to come by for folks in that position, otherwise they WOULD have purchased.

In the time of an 'emergency' as you have written, there will ALWAYS be someone who can afford to buy gold and/or silver. ALWAYS. Most who hold gold and/or silver do not do so exclusively; one can assume there are other assets in the mix.

A person buying gold and/or silver does not do so with hopes of the value of the dollar going down. I did not sense that the OP was cheering a falling dollar, but rather rising gold, so the remarks made hence seem harsh and judgmental to me.

OP, if one is holding gold today, then yes, that person (you) could call it a good day! An investment rising is always a good feeling.

Lucy

 

I am 27 and as far as I know there is no one my age in congress or the senate. It's my parents generation that voted them in!

 

No one your age in the senate/house, but there are plenty of people your age who voted them into office. Not all reps and senators (and even the president) have been there for over 10 years.

If we're going to place blame, then I blame FDR for taking us off the gold standard back in the '30s! LOL

 

I am willing to bet that at least 80% of my age group does not vote and if they do, they generally have no idea whats going on in the real world. There is only a small percent of my age group that follows politics and even fewer of those are conservative.

 

Then I would blame the younger people that didn't vote in someone who could do a better job.

 

I blame us all. Now what are WE going to do about it?

 

Blame each other?...

 

They did do a horrible job in raising their kids who happen to be the most self entitled and seemingly least educated lot to come around in years. They have difficulties in handling complex situations and can't comprehend anything that takes more than 10 seconds worth of thought.

As for the economy, nah, this isn't a generational issue.

 

I would agree 100% with what you said except the last sentence. I would also say that their parents did a horrible job as well.

 

Oh boo-hoo.. so typical to try to place blame today. Who cares? What difference does THAT make?It's the fix that matters.The generation of blamers going on right now. No wonder we actually solve little.Lucy

 

I'm close to your age (31) and I vote, plus the majority of my peers that I know do as well. If you choose not to vote or your peers, then you should not be complaining as you have done nothing to solve the problem. If you dislike the politics in Washington, at the very least, vote.

 

Hey Hey! I didn't vote for any of these knuckleheads! ...the knuckleheads I voted for lost. :so-sad: