POLL: In 2010 gold will be....?????
topstuf
Posts: 14,803 ✭✭✭✭✭
What?
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topstuf
Posts: 14,803 ✭✭✭✭✭
Comments
<< <i>Around $350 an ounce >>
You're a funny guy. Thanks for the laugh.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
BTW my prediction works for the year 2015, 2020, 2025 and on and on and on.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>Gold will be almost exactly where it is relative today to the dollar, and only just weeks or months from hitting $2,000 dollars an ounce due to the imminent financial collapse of the world's fiat currency system. >>
No need to wait till 2010. Fiat is in a state of collapse now - it's always been an unreliable car
2010 is a long ways off, but my bet is that we won't have the economy's various problems worked out by then. Gold will be up.
My guess is above $700.
roadrunner
Today, they factor in only what your house could be rented at...and that's 30-40% of the CPI index. I doubt we'll ever see an 18-20% inflation index again because of all the reworking to keep it as low as possible. The govt doesn't want the little people to see inflation because it upsets them. Might even make then stop buying stocks and other goods & services. Heck, they might even start saving something for a change.
That 20% inflation of 25 years ago might be equivalent to a number today in the 10-12% range. Just a guess though.
Biggest spender in history, George W. Bush, yet to veto a spending bill after 4+ years in office. A feat not soon to be repeated. Toss in a 40% loss of value in the US dollar, and continuing to set new records for trade deficit, budget deficit, and current account deficit.
roadrunner
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
5 year chart
roadrunner
A - Illegal
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<< <i>Hey....I'm not against the war....It's the right thing to do. >>
Sorry about that, misconstrued your comment, which was correct. You were right about the wrong forum as well, and like that other forum, the general drift seemed to be going the anti-US way. There are unfortunately many who don't understand what the Bush doctrine is, or why the future of the planet depends upon its success. Again, my apologies.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
I thought that oil was the reason for war?
<< <i>How did war get involved in this thread?
I thought that oil was the reason for war?
Considering we get less than 5% of our oil from the Middle East, that was a specious arguement to begin with.
The Bush doctrine is the best way to avoid a REAL large scale war in the near future and democratize the Arab world at the same time. The problem is the sore losers and socialists, err, I mean democrats who could never bear to give the man credit for anything. I could explain it, but this is the wrong forum to go into depth on that subject.
To keep this on topic, I voted over $1,000 in 2010. What that will be worth in terms of 2005 spending power is another issue altogether.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Very well said "Deadhorse!"
<< <i>For a second there I thought "Darkhorse" had seen "the light."
Very well said "Deadhorse!" >>
There's a Darkhorse? He needs to see the light? Cool, we should get together.
Nobody beats a deadhorse, right?
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
interview transcript .pdf
"Gold Rush – CNBC Interview
February 1, 2005"
This morning, we're going to hear from both sides. We'll begin with
Robert McEwen, Chairman and CEO of Goldcorp, and Ian Telfer, Chairman and CEO of
Wheaton River Minerals. Good morning, gentlemen. Thanks very much for being with
us.
*snip*
McEwen: We believe the price of gold is going higher. We started in 2001, when gold
was $270.
Mark: Well, now it's $420-something. You think it's going still higher?
McEwen: In the next five or six years, it'll test 850.
Mark: It will test, beg your pardon?
McEwen: It'll test 850 dollars.
Mark: 850?
McEwen: Yes.
*snip*
Sam Leiber: Gentlemen, Sam Leiber at Alpine. Many people believe -- many analysts
believe that the gold has actually moved with the dollar, and has moved up and down. As
the dollar has weakened, it's become a proxy, in essence. Question for you: If you
forecast $850 over time, does that mean that dollar will weaken tremendously over this
period? Or do you think there are other factors?
McEwen: The dollar is certainly very strong right now. I can tell you last year, I thought
gold was going to trade in the range between 370 and 450. It traded down to 372, and
went up to 455. Anybody who buys gold and thinks it's going in a straight line from here
to 850 should rethink their decision. But take a look at the '70s, and you have this
continuing rising price with corrections.
*snip*
McEwen: ... Today, I have over $100 million invested in Goldcorp. I wake up every morning thinking about it.
you bet he does.
i like how he dodged the dollar question. it was a spirited little interview that morning, this guy was *dead serious* (or at least believed he was dead serious) when he said gold would test $850. of course, he could just be talking up his position, but i think it's a bit more than that.
My idea of diversification is both Gold and Silver.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>a couple of/a few nations will launch nuclear weapons on or before 2010 and the price of gold will not matter it will be worthless >>
I don't see that happening unless it is on the other side of the world and even then, it would have just the opposite effect.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Before anyone pulls the North Korea or Iran card, I like to think of N.K. as a spoiled little child that will be kept in check by China's desire to keep American troop's out of S.K. If Iran managed to get a few nukes, I think they would be stolen before long or come up missing due to civil war or some other domestic squabble. Iran is a threat, but I pray to God that America does not invade without full support (and massive help) from the rest of the world.
Right or wrong, this area of the world is so deeply religious and coupled with a seemingly unending supply of uneducated idiots willing to give their lives over the believe that God will somehow grant them special "things" in heaven because they kill 100 People with a bomb strapped to themselves. Don't get me wrong, I respect the right of everyone to believe in what they wish to believe.
Does the 7.6 trillion dollar deficit bother anyone else? I recall in the 7th grade learning that the US Government owned over 1 trillion. No matter how smart you think you are, your brain cannot comprehend this number so I will break it down for you. . .If you were born today and had 7.6 trillion to spend in your lifetime and lived to be 100 years old, you would have to spend over 205 million dollars a day every day of your life to spend that much money. How scary is the deficit now? I'm not sure how that will affect the price of Gold in 2010, but I feel that it will be over 800 an oz. If the US government has major economic issues, I think the price of Gold in 2010 will be much more than that, but the point is moot because I'm sure our elected officials will make it illegal for you to own or trade in Gold to protect the way over-powered federal reserve.
Sorry to all those who are offended by my off-topic remarks.
<< <i>Jimmy Carter.....worst inflation in history.....Democrat. >>
The Carter inflation period was right after Vietnam and was a direct result of the spending on the war. I won't debate which party (Nixon's) was in charge during the largest part of the Vietnam military spending spree.
I don't think we need to discuss the legitimacy of this war to agree upon its financial effects. Any way you believe we all know it will cost a lot of money we don't have and bring a lot more inflation. Military spending and homeland security will continue to cost a fortune. Iraq is not the end of the Bush doctrine, he will continue to "reach out" and that will continue to cost big $$$. I don't even need to add what has already been said about consumer debt etc. to believe that grey clouds are coming over head.
I don't debate the weather when the rain pours down, I just want to have a big umbrella and a warm fireplace. There will be plenty of blame to go around then.
<< <i>
<< <i>Jimmy Carter.....worst inflation in history.....Democrat. >>
The Carter inflation period was right after Vietnam and was a direct result of the spending on the war. >>
Hardly, it was 6 years after the fact. Some of us were around then and remember it a little differently. The damage Carter did to this country haunts us yet today.
The peanut farmer was directly reponsible for the rise in radical Islam and the illusion they hold that America is a paper tiger. Let's see, the Panama Canal is run by the Red Chinese Army and North Korea has nuclear weapons, both of those are the direct results of Jimmy Carter's actions.
<< <i> Iraq is not the end of the Bush doctrine, he will continue to "reach out" and that will continue to cost big $$$. I don't even need to add what has already been said about consumer debt etc. to believe that grey clouds are coming over head.
I don't debate the weather when the rain pours down, I just want to have a big umbrella and a warm fireplace. There will be plenty of blame to go around then. >>
The Bush doctrine is clearly beyond your comprehension. Iraq is our insurance policy against Iran. Are you aware the 80% of the population of Iran is 22 years old or younger? When they see a Western way of life next door, they aren't going to put up with anymore Ayatollas. I notice you spell gray as if you were already from a socialist state.
You can probably find a big warm fireplace in a cooler climate, seems you aren't too comfortable around here anyway.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Here's a warning parable for coin collectors...
<< <i>You guys really need to come on over to the Open Forum to discuss this stuff! Get things back on track over there.
Political stuff isn't OT over there.
Gold will be up only about 40% in constant dollars in six years. It will be about $1,300 per OZt.
<< <i>Hardly, it was 6 years after the fact. Some of us were around then and remember it a little differently. >>
Some of us were around and we weren't stoned. The Vietnam war ended in 1975, The high inflationary period began around 1974. The year Nixon resigned. Carter was out of office in 1980.
inflation/vietnam
We can spend weeks debating fault but Its a waste of time.
Bottom line is WAR = Military Spending = inflation. Get ready for it.
I won't even be baited with your gibberish.
Yellow in color!