My bold prediction on gold

The point of the thread is to validate the prediction powers of Danr:whistle:, not to argue against gold.

In the meantime, you can send all of your paper money my way and I'll send you and equal number of pounds of toilet paper if that's what you think. The Federal Reserve Note is an imperfect currency, but hardly worthless as some doom and gloom internet sites would have you believe.

 

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Actually TP is a pretty good investment alongside bullion when TSHTF...
Butt, I suggest avoiding the mark up if you buy TP from Amazon.

 

I cant understand the gold price this morning?? The dollar is rising but gold is rising at the same time!.I thought when the value of the dollar rises the price of gold is supposed to drop.

 

When TSHTF I will have to sell by stock pile of chocolate and Diet Coke for more food, gold, silver and bullets. How much do you think it will be worth?

 

It's more complex than that. The dollar is rising against a basket of currencies, all of which are falling in value at various rates. The relative rise in the dollar doesn't necessarily translate into an absolute rise. Also, the link between gold and the dollar isn't that tight. Gold usually rises when real interest rates after inflation fall which may or may not correspond to currency trading activity on any given day. And there are always fluctuations on a daily basis that have to do with industrial demand, central bank repositioning, hedge fund speculation, the international carry trade, etc.. that have almost nothing to do with each other. Don't get trapped into thinking there is a simple answer. There isn't. Most of the rules of thumb you read in the business press and see on TV are close to useless for forecasting short term moves in gold.

 

For all you gloom and doomers - how about a prediction that the civilized world will discover that gold beyond its historically ingrained psychological value is really fairly worthless.

 

I can't wait for everyone to jump in and disagree

 

http://geology.com/minerals/gold/uses-of-gold.shtml

The idea that gold is worthless is, well, worthless [see above link]. Also, we'll let you go first in telling your wife and/or girlfriend(s) that they aren't allowed to own any gold jewelry because of your brainstorm.

 

Buy a package of tp and save the receipt...exactly one year from that day try to buy the same kind of tp from the same store and then tell me what happened to your dollar.

 

i have to agree

I wood like to see the man that tells my wife that she can have no more gold/ diamonds .we have been wed 17 years and i would not do it
But for the time being i can aford to buy these things but for two reasons i put a bit away during the so called celtic tiger but still have one invesment prop to sell /comm
Heres hopeing
Dave

 

The point is that the US Mint (remember them?) lower their prices on gold items at $900.

 

That's fine, but your original statement about paper money was "the only good thing about paper is you can wipe with it" implying that this was its highest and best use. That's a very different statement than implying some inflation. But it's good to see you come back to reality. :whistle:

 

I remember a movie once where a ship carrying a bunch of gold was sinking. The crew had to decide whether to grab the gold or life preservers.

With the ice caps melting they way they are, maybe we should be investing in life preservers instead of gold.

 

http://scienceandpublicpolicy.org/monthly_report/sppi_monthly_co2_report_july.html

Take a look at the link and buy the gold instead of the life preserver.

 

Never said anyone shouldn't be allowed to own gold. Just suggesting that from a utilitarian standpoint - gold is fairly worthless.

 

WORTHLESS! I never thought that! Now what am I gona do with all these gold bars?.

 

If you read the link, you would realize how silly you sound.

 

I did read the link and 78% of gold production is utilized in manufacturing jewelry.

 

It always seems to be the ones who feel nothing when they hold or touch gold that have negative things to say, much like a troll. Reminds me of ppl who talk out of other parts of their bodies besides their mouth.

My gold coins will always be worth more to me than the spot price of gold. That's just how it works for me. :hail:

 

We think the same way brother.....:high5: