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$10,000 Gold ?!?!

SeatedCoinSeatedCoin Posts: 1,040
in Precious Metals
$10,000 Gold

Ridiculous!
image

"The answer was in the Patriots eyes. Gone were the swagger and c0ck sure smirks, replaced by downcast eyes and heads in hands. For his poise and leadership Eli Manning was named the game's MVP. The 2007 Giants were never perfect nor meant to be. They were fighters, scrappers....now they could be called something else, World Champions."

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Hmm, I sense another opportunity for a gold vs. Dow wager......image

    Edelson's initial idea of $2200 gold is certainly sound imo. So is the idea of incoming reflation. It's the only way to try and recover from the current mess. Funny that $850 gold was probably ridiculous as well in 1971 when we came off the gold standard. In any case the world and the US will need to reanchor the currency systems in the near future. Gold has already held that role in the past. A pure fiat system is not going to fly very well a few years down the road. It will have to be backed on a percentage basis with something of value because it just won't be trusted any more. The bankers, politicians and economists sold us a bill of goods in 1971. It's finally catching up to us after 37 years of living well beyond our means.

    While $10,000 gold might be a bit out of my upper range estimate, I can certainly see $2000-$4000 gold and 2000-4000 DOW in our future.

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • rgl1345rgl1345 Posts: 674
    Then there is need for me to collect silver
  • Steve27Steve27 Posts: 13,274 ✭✭✭
    I wish someone would pay me to write drivel like this!
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • 7over87over8 Posts: 4,733 ✭✭✭
    all of these guys sound like fools,

    but so did others 2 years ago forecasting the demise of wall street and a market crash........they weren't too far off, were they?

    what is needed is wage growth........

    or a nice dose of currency devaluation. FDR did it in 33. $21 per oz one day, $35 the next.

    Why is it so far fetched today? This guy is not advocating a GOLD STANDARD....just a peg to gold for 10-20% of the debt, and the beauty is - no need to dig up more gold, just hyperinflate the price......and there you have it.
  • OPAOPA Posts: 17,118 ✭✭✭✭✭


    << <i>I wish someone would pay me to write drivel like this! >>



    image

    what a bunch of hogwash.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    This falls under the heading of "conceivable, but unlikely."
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • MoneyLAMoneyLA Posts: 1,825 ✭
    I love articles like this one... it reminds me of one of my favorite episodes of The Twilight Zone.

    You know.... the bank robbers get a truckload of gold... drive to a cave where they go into hibernation for a hundred years...

    So they wake up when their crime is forgotten and the statute of limitations is expired....

    but in the end it turns out gold is worthless a hundred years in the future because it can be created and is no longer rare....

    fantasies. Gotta love Rod Serling and the gold bugs for them....
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I love articles like this one... it reminds me of one of my favorite episodes of The Twilight Zone.

    You know.... the bank robbers get a truckload of gold... drive to a cave where they go into hibernation for a hundred years...

    Yeah, the one with Simon Oakland as the greedy gold hoarder who had water to trade for gold. The only problem is that that episode is now 45 years old and we're no closer to making gold than we are to finding Noah's Ark. It's a great episode, but fantasy nonetheless. I hope your investment decisions aren't based on Twilight Zone episodes. So has the episode "To Serve Man" affected your investing decisions? Stocked up on A-1 steak sauce recently while waiting for "Lurch" to arrive at the United Nations?

    Remember back in the 1960's when confederate money was basically worthless and tossed around like toilet paper? Well it's not worthless today. I don't foresee gold becoming like toilet paper any time soon though in the middle of the desert I just might be tempted to trade 2 gold ounces for a drink of water and a good wipe....assuming I'm out of paper money for the latter.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i>So has the episode "To Serve Man" affected your investing decisions? Stocked up on A-1 steak sauce recently while waiting for "Lurch" to arrive at the United Nations?

    I don't foresee gold becoming like toilet paper any time soon though in the middle of the desert I just might be tempted to trade 2 gold ounces for a drink of water and a good wipe....assuming I'm out of paper money for the latter. >>



    image
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • fcfc Posts: 12,793 ✭✭✭


    << <i>

    << <i>So has the episode "To Serve Man" affected your investing decisions? Stocked up on A-1 steak sauce recently while waiting for "Lurch" to arrive at the United Nations?

    I don't foresee gold becoming like toilet paper any time soon though in the middle of the desert I just might be tempted to trade 2 gold ounces for a drink of water and a good wipe....assuming I'm out of paper money for the latter. >>



    image >>



    heh. that is a fine piece of writing. made me grin also.
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