Author Topic: Time to talk about Gold again.  (Read 1083 times)

Offline rickortreat

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Time to talk about Gold again.
« on: May 20, 2008, 05:48:32 PM »
Now the economy is really fubarred.  I've been writing about gold for several years and in that time it has gone from $275 to currently $920.  It was over a $1,000 until massive intervention stopped the rise.  This was at the same time that JPM was lent money from Uncle Sam to take over Bear Stearns.

That was your money going to JPM to buy up a useless bankrupt company.  WHY?  Because if Bear Stearns went belly up, all the derrivates that JPM and the others wrote on Bear Stearns would have CAUSED THEM TO GO BELLY UP!@!!!!!

The govt. couldn't let it fail without the whole international banking system blowing up.  SO they pushed the evidence under the rug and hoped no one would notice the involvement of PUBLIC MONEY IN PRIVATE ENTERPRISE!!!!

This time gold is going to go to $1000, and this time a lot of asswipes will be telling you to sell and calling a double top.  Gold will hesitate there, for only a short period and then it will be off to 1100 and 1200 this year.

SO, $920 now, before Dec. $1200, a pretty nice profit even if you're getting into the game late.

If you put money into gold, you might even be able to afford to put gas in your car!  8)

Offline Skandery

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Re: Time to talk about Gold again.
« Reply #1 on: May 20, 2008, 05:51:39 PM »
Gas pumps in Missouri don't accept Gold though.   

8)
"But guys like us, we don't pay attention to the polls. We know that polls are just a collection of statistics that reflect what people are thinking in 'reality'. And reality has a well-known liberal bias."

Offline rickortreat

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Re: Time to talk about Gold again.
« Reply #2 on: May 20, 2008, 06:33:27 PM »
Gas pumps in Missouri don't accept Gold though.   

8)

Not YET they don't!   ::)

Actually, I only recommend Gold for investing and for safety.  Holding physical gold means that it is not liquid and has to be converted back into money to be useful, unless and until barter becomes preferred to exchanging cash. If you think you have to leave the country, Gold and Silver can be sold anywhere, and the price on both will continue to rise for the foreseeable future. Gold coins will be worth too much to be practical, even a 1/10 Oz. coin is worth over $90 now, and will be worth $120 on melt value.  Silver coins are ideal, and old US ones have a defined weight and purity that makes them trustworthy.

Silver is also likely to appreciate more on a percentage basis than Gold by the time this is all over.  The historical ratio (and actual physical ratio) is 16:1  Silver : Gold.  Gold is at $919 now, so by that measure Silver should be 57.43.  The current spot price for Silver is 17.64, so it has a lot of room to catch up.

This is the most dangerous financial time the world has ever experienced, and most likely the worst any of you have ever encountered.  Gold is going up for reasons that aren't good, and you need to take steps to protect yourself while you still have time.

Unless something fundamental changes in the way the Govt. and the Fed conduct business, things are going to continue to get worse.  No matter how much lipstick they put on her, she is still a PIG.

Offline Lurker

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Re: Time to talk about Gold again.
« Reply #3 on: May 21, 2008, 07:40:22 AM »
I was wondering where you were when gold lost over 15%.  I didn't see any posts warning us to get out and back into safer investments.  But now the sky is falling again and gold is shining and Rick is back pumping it.  All my life's a circle...
It riles them to believe that you perceive the web they weave.  Keep on thinking free.
-Moody Blues