I'd love to see it go below $900 (that way that next spouse coin will be a lot more attainable for the idiots like me who persist on buying them).
Gold is on a trampoline. How do you pre-guess it? I'm in for the long haul with my single Gold Eagle. :goof:
Exactly! :thumb: What a minute! Who are you calling and idiot. 20yrs from now, God willing, Dan, the few "idiots" on here will hopefully be laughing all the way to the bank.
I hope I lose money on my gold investments, but I suspect I'll make a lot. Why do I say this? Because very high gold prices probably mean that so many other things have gone wrong in the economy that the overall standard of living will be lower for everyone. If you've ever spent any time in nations with busted economies, you get the point. It's better to be middle class in the USA than wealthy in those countries.
I too hope gold goes way down to $700-800! I have plans to buy another 25 ounces! I sure will keep my fingers crossed!
I've spent 22 years in 3rd world countries. Believe me (and Cloudsweeper) - you do NOT want to see gold at $600 (or whatever) and silver at $6 - because you'll be real busy taking care of all your immediate family members who don't have jobs, have had their insurance cut, etc. Those who say - I can't wait for silver to get to $6 are basically idiots. Be very, very careful. Because you might actually get what you wish for.
And human nature is to go with the flow. I bought gold when it was under $300 the last time and I had to hold it for quite a while for it to go up $100. I wish I had bought more, but there was good reason to think it might go below $200 at the time. If gold breaks $900, it takes commitment to buy if the next day it is $860, etc. Gold has enthusiasts on the way up, but goldnuts on the way down. If you treat it as a "love" you will eventually be heartbroken, you have to treat it as a commodity. If gold is going up, the talking heads on CNBC says you have to have it. If gold is going down, they have already sold theirs. IMHO. Jim
Gold was $600 about 2 1/2 years ago and everyone in the family was doing just fine economically. If gold returned to $600, it would mean that the government didn't hyperinflate the currency. If gold goes to $10,000, it most likely means that nothing except the gold has any value. Maybe your circumstances are different, but for me and my family, hyper-inflation is a far worse danger than deflation.
even if the gold go down. this does not affect the fractional (w) eagle and buffalo. check below the retail prices. 2006w eagle gold 1/10 oz - $150.00 2006w eagle gold 1/4 oz - $550.00 2206w eagle gold 1/2 oz - $1,150.00 2007w eagle gold 1/10 oz - $150.00 2007w eagle gold 1/4 oz - $500.00 2007w eagle gold 1/2 oz - $1,050.00 2008w eagle gold 1/10 oz - $150.00 2008w eagle gold 1/4 oz - $600.00 2008w eagle gold 1/2 0z - $1,050.00
I have some experience living in different places..6 months in the Virgin Islands, 2 years as a Peace Corps volunteer in Niger, 3 1/2 years in France and west coast to east coast and back in the U.S. What I've observed is that relative happiness is not just about money... I've wandered around 4 star hotels and wondered why so many of these so-called "well-off" folks have long faces. In West Africa, I was just as astonished to see how joyful folks could be with very little... Some are secure materially, but impoverished spiritually... As Ernest Hemingway once said: "The rich are not magic-they just have more money."
While true, prosperity and economic freedom are not to be underestimated in importance. The lesson of third world economics is that exploitation has more negatives than positives.
True..corruption runs rampant in many third world economies. Bureaucrats and politicians siphon off foreign aid and monies meant to be used for infrastructure, health and education. There are old tribal animosities and just plain, simple greed. The road forward won't be marble-smooth and it will take a long time, but I believe that education and changing social values will eventually lead to more prosperity and freedom overall. It wasn't so long ago that we talked about the "Iron Curtain". In it's place we now have more vibrant central European economies like Poland, Hungary and former East Germany. I think eventually the third world will get there, not all at the same time, but slowly and surely.
