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Aurophobia: The Fear of Gold

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals

Aurophobia. It's a debilitating disorder. Your palms sweat. Your eyebrows knit. You'll do almost anything to get away from that ugly, dirty, relic...

...the same gorgeous, heavy, treasure that you stood in line to buy 5 years ago when it was approaching twice the price it was this week :smiley:

If I had my eye on a piece of property that had great potential over the next several years, and the price suddenly dropped 25%, would I run screaming from the real estate agent?

If the classic car guy down the street finally lowered the price on his 1969 GTO Judge to what you offered a year ago, do you shrug and drive off in your Ford Fiesta?

That same 1865 Colt single action the dealer wouldn't even let you touch a few years back, he just let you hold and offered it to you at way less than you'd have paid. But you can't seem to find your checkbook?

SNAP OUT OF IT!

If you've never liked gold, well, I can't cure you. The doctor is out.

But if you appreciate gold as a durable, liquid, store of wealth, what's wrong with you?

Gold is on sale. Embrace it. Don't go running and screaming from it. Not cured yet?

The government didn't stop printing money last week. The national debt just hit $21,000,000,000,000. That's Trillion with a capital T. That's $175,000 per taxpayer.

There's more: A billion Chinese, a billion Southeast Asians, a billion Indians didn't stop hoarding gold last week.

Starting to feel a little better? Maybe not so queasy?

Well take a shot of scotch or a glass of cold beer (or iced tea, whatever), and then ask a Turk if they'd rather have Turkish Lira--that lost half its value in a year--or gold this week. Ask a mother in Caracas witnessing 37,000% inflation if she'd rather have Bolivars or gold this week.

You've got a fever. And the only prescription isn't more cowbell. Unless that cowbell is made of 24 karat gold.

We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • AUandAGAUandAG Posts: 24,762 ✭✭✭✭✭
    edited August 17, 2018 9:14AM

    Yeah, got ya. My fear is that it will continue the present trend.......down. Gotta use some common sense once in a while. When I bought a Dali at $60k 15 years ago I never thought it would be $20k today. Although gold is different than art, there are still a lot of commonalities. Demand still comes into play. If the Indians and Chinese are buying so much gold why does the price not escalate? Is there too much gold in the market? Is that just a rumor? Do you want to follow the lemmings off the cliff?
    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • DrBusterDrBuster Posts: 5,379 ✭✭✭✭✭
    edited August 17, 2018 10:30AM

    Any excuse to watch this again, ha!

    https://player.vimeo.com/video/126322279

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭

    I ain't afear'd. :)

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Interesting, thanks for sharing !!! :)

    Timbuk3
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    edited August 17, 2018 2:51PM

    @AUandAG said:
    Yeah, got ya. My fear is that it will continue the present trend.......down. Gotta use some common sense once in a while. When I bought a Dali at $60k 15 years ago I never thought it would be $20k today. Although gold is different than art, there are still a lot of commonalities...

    Dali is literally the Federal Reserve of the art world. The man would sit at a desk and sign hundreds and even thousands of blank sheets of paper a day and sell them in advance of printing unlimited reproductions. Seriously.

    https://www.artsy.net/article/artsy-editorial-salvador-dali-accidentally-sabotaged-market-prints

    But let me ask you three questions:

    Will there be more or fewer Chinese and Indians in the next 5 or 10 years?
    Will the national debt be higher or lower than it is now in the next 5 or 10 years?
    Will mining gold be more or less difficult than it is now in the next 5 or 10 years?

    Gold today is the same gold that it was last week and last year. It's just cheaper.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    "Gold today is the same gold that it was last week and last year. It's just cheaper."

    Actually it's considerably cheaper than it was 7 years ago. ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    edited August 18, 2018 4:00AM

    If you want to know the value of gold, plot the regression line for the past 20-30 years. Peaks & valleys aren't representative.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    @jmski52 said:
    If you want to know the value of gold, plot the regression line for the past 20-30 years. Peaks & valleys aren't representative.

    How true....Helpful to those who have a history of longevity in their bloodline. ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭

    F everything, as long as I have more cowbell I'm good, hilarious :)

    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • WildIdeaWildIdea Posts: 1,877 ✭✭✭✭✭

    I’m always in the mood to buy some. Now if I could just find the time to get away from work to actually shop for some.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    No one can authoritatively predict the top or bottom of the market.... so judicious buying as the price drops is a good move. We know gold will go up again.... no one knows when. So adding some gold is best when the price is down...As some intelligent individual once said..."Gold will never be worth nothing."......As opposed to Bolivars...Cheers, RickO

  • ZubieZubie Posts: 1,160 ✭✭✭✭

    So, if one were to start stacking gold today, what would you buy???
    I'm looking into transferring 10-15% of my 401k to gold and thinking $20 St. Gaudens PCGS MS-65s are the best way to go? Any thoughts?

    Positive BST Transactions with:
    Overdate, BestMR, Weather11AM, TDEC1000, Carew4me, BigMarty58, Coinsarefun, Golfer72, UnknownComic, DMarks, JFoot13, ElKevvo, Truthteller, Duxbutt, TwoSides2aCoin, PerryHall, mhammerman, Papabear, Wingsrule, WTCG, MillerJW, Ciccio, zrlevin, dantheman984, tee135, jdimmick, gsa1fan, jmski52, SUMORADA, guitarwes, bstat1020, pitboss, meltdown, Schmitz7, 30AnvZ28, pragmaticgoat, wondercoin & MkMan123
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  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    edited August 21, 2018 1:39PM

    @Zubie said:
    So, if one were to start stacking gold today, what would you buy???
    I'm looking into transferring 10-15% of my 401k to gold and thinking $20 St. Gaudens PCGS MS-65s are the best way to go? Any thoughts?

    Lol! I literally just posted an MS 65 PCGS SOLD!

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • dennis1219dennis1219 Posts: 267 ✭✭✭

    @Zubie said:
    So, if one were to start stacking gold today, what would you buy???
    I'm looking into transferring 10-15% of my 401k to gold and thinking $20 St. Gaudens PCGS MS-65s are the best way to go? Any thoughts?

    Whatever gold you can buy as close to spot as possible. Eagles and buffalos are my preference.

  • ShadyDaveShadyDave Posts: 2,199 ✭✭✭✭✭

    @Zubie said:
    So, if one were to start stacking gold today, what would you buy???
    I'm looking into transferring 10-15% of my 401k to gold and thinking $20 St. Gaudens PCGS MS-65s are the best way to go? Any thoughts?

    I usually buy these when eBay has their "ebay bucks" promos going on and I can usually get these for at or under melt price. I like them because they're small too, so much easier to buy/sell one at any given time by more collectors/stackers than $20's.

    https://www.ebay.com/itm/Swiss-Gold-20-Francs-Helvetia-Almost-Uncirculated-AU-Random-Year-SKU-19/111646672303?ssPageName=STRK:MEBIDX:IT&_trksid=p2060353.m1438.l2649

    https://www.ebay.com/itm/France-Gold-20-Francs-Lucky-Angel-Avg-Circ-SKU-1049/121593597244?ssPageName=STRK:MEBIDX:IT&_trksid=p2060353.m1438.l2649

  • KkathylKkathyl Posts: 3,762 ✭✭✭✭✭

    I see charts that start at the high and go down but if you look at the 5 year Gold chart you will see that it is still higher today then it was before last recession. It is in line with the strength of the dollar but not much more pushing up of the dollar left in my opinion. So to me, price is right.

    Best place to buy !
    Bronze Associate member

  • 1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭

    Argyrophobia is the fear of silvery things, especially silverware. :smile:

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    Bad transactions with : nobody to date

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    my only fear of gold is that no one will be able to afford it when I decide to sell.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭

    AuraMoreaPhobia: the fear of too much gold at the expense of, you know.. Productive Assets ;-)

    Liberty: Parent of Science & Industry

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    @derryb said:
    my only fear of gold is that no one will be able to afford it when I decide to sell.

    Asia will. ;)

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