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The Reason Gold is at the Price it's At.

BNBAnalyticsBNBAnalytics Posts: 400
in Precious Metals
One word: Fear.

We the people are worried as hell.

We're learning the painful truth that the dollar is weak (has been) and sadly, won't be getting better.

US Govt. Spends spends spends and takes debt debt and more debt from China and other countries.

As we saw the bullish rise in '07 begin in Gold, we the people realized that gold may be our safest bet. People are hoarding gold at this current time because they know something's seriously wrong with the dollar and they lost confidence in it a long while back. I believe now it's just a matter of time..

I hope you find this argument sound as to why gold is at the price it's at and will continue higher the more people realize the downfall of the U.S dollar compared to other world currencies.

Sad realization, buy gold.

bnb

Comments

  • ocon4008ocon4008 Posts: 1,703
    And silver as well. Truth be told, I have been hoarding silver because inflation is coming. Inflation is coming because of the weak dollar. The dollar is weak because the central committe in Washington has spent too much money.

    Margaret Thatcher before becoming Prime Minister once said when asked about the socialist labour party in England " I would much prefer to bring them down as soon as possible. I think they've made the biggest financial mess that any government's ever made in this country for a very long time, and Socialist governments traditionally do make a financial mess. They always run out of the other people's money. It's quite a characteristic of them. They then start to nationalise everything, and people just do not like more and more nationalisation, and they're now trying to control everything by other means. They're progessively reducing the choice available to ordinary people."

    Sound familiar?
  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    I buy gold when I am disgusted and pissed, mainly because I know that it's my best bet against the gross mismanagement and dishonest government that we have in Washington DC.

    Frankly, I'd much rather be investing in stocks and in the American System, but that's not gonna happen in this environment.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    There's not a lot of confidence in the dollar. And with good reason. As a nation, we're deeply indebted to foreigners. There are tons of dollars held overseas. There's a powerful incentive for debtors to inflate away those debts. That's a big part of the reason why gold is doing so well. Unfortunately, I don't see that changing any time soon.
    "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)
  • BearBear Posts: 18,953 ✭✭✭
    We have nothing to fear

    BUT FEAR ITSELF.Of course, war,

    terrorism, depression,swine flu

    inflation,currency devaluation, unemployment &

    bankruptcy, do pose a very slight concern.image
    There once was a place called
    Camelotimage
  • CaptHenwayCaptHenway Posts: 32,245 ✭✭✭✭✭


    << <i>We have nothing to fear

    BUT FEAR ITSELF.Of course, war,

    terrorism, depression,swine flu

    inflation,currency devaluation, unemployment &

    bankruptcy, do pose a very slight concern.image >>



    Don't forget bad burritos and VPL!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • ttownttown Posts: 4,472 ✭✭✭
    Fear = tinfoil and that's why you get those calling what's going on as the "tinfoil crowd" altough they refuse to believe the fact the US is Stupid = Goverment and their present policies. The real tinfoil crowd are those that think the US can do no wrong no matter what we do since we are the kings in our life times and disreguarding histoy. Very sad hope we start to move in the right direction for my kids sake and I can get off this board. Looks like it will be in the next 1 - 3 years to me but I won't make money since all PM's do is hold value and it'll be a sad chapter in our history soon to be forgot again in another 50 to 60 years.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i>The real tinfoil crowd are those that think the US can do no wrong no matter what we do since we are the kings in our life times and disregarding history. >>



    Exactly. I couldn't have said it better myself.
    "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)
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>I buy gold when I am disgusted and pissed, mainly because I know that it's my best bet against the gross mismanagement and dishonest government that we have in Washington DC.

    Frankly, I'd much rather be investing in stocks and in the American System, but that's not gonna happen in this environment. >>



    image We are in a big mess that is going to take some time to get out of if ever. For the present you have to protect what you have.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • MoneyLAMoneyLA Posts: 1,825 ✭
    Yikes. Im not afraid. I think silver and gold are going up because.... silver and gold are going up. People invest in things where they'll turn a profit. Fear? If youre afraid, spend your money on a bunker, not on gold.
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
  • BearBear Posts: 18,953 ✭✭✭
    Do you know where I can buy a good bunker......cheap?image
    There once was a place called
    Camelotimage
  • BearBear Posts: 18,953 ✭✭✭
    FEAR & GREED!

    How I wish those two

    could be replaced by love and trust.
    There once was a place called
    Camelotimage
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>Yikes. Im not afraid. I think silver and gold are going up because.... silver and gold are going up. People invest in things where they'll turn a profit. Fear? If youre afraid, spend your money on a bunker, not on gold. >>



    What the hell will he do with a bunker, He has a giant Cave! image
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • BearBear Posts: 18,953 ✭✭✭
    Yup, problem is, the cave has bats in it.

    Nasty little buggers they are too.
    There once was a place called
    Camelotimage
  • MoneyLAMoneyLA Posts: 1,825 ✭
    If the world comes to an end, who is going to buy your gold?
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
  • fastrudyfastrudy Posts: 2,096 ✭
    If the world comes to an end, I don't care if I sell it.
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    Successful transactions with: DCarr, Meltdown, Notwilight, Loki, MMR, Musky1011, cohodk, claychaser, cheezhed, guitarwes, Hayden, USMoneyLover

    Proud recipient of two "You Suck" awards
  • BearBear Posts: 18,953 ✭✭✭
    If the world was coming to an end and I had a few hours notice,

    I would buy bags of potato chips, beef jerky, Sam Adams bear and

    maybe a chop liver sandwich. After all, what difference could it make

    at that point in time.image
    There once was a place called
    Camelotimage
  • GeotovoreGeotovore Posts: 169
    I'm with you on the Sam Adams, but with a bison burger instead.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If the world were coming to an end (hours- days-maybe a week) then NO ONE would trade or sell you their food/drink for anything you had other than different food/drinks and possibly gas, firewood, and ammo. You'd be SOL if you didn't have your food/water already in order. Then again what would a few days or a week difference make? Of course the cowboys out there would use their guns and ammo to try and procure some food essentials.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Fear = tinfoil and that's why you get those calling what's going on as the "tinfoil crowd" altough they refuse to believe the fact the US is Stupid = Goverment and their present policies. The real tinfoil crowd are those that think the US can do no wrong no matter what we do since we are the kings in our life times and disreguarding histoy. Very sad hope we start to move in the right direction for my kids sake and I can get off this board. Looks like it will be in the next 1 - 3 years to me but I won't make money since all PM's do is hold value and it'll be a sad chapter in our history soon to be forgot again in another 50 to 60 years. >>



    I like the tinfoil perspective.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I buy gold when I am disgusted and pissed, mainly because I know that it's my best bet against the gross mismanagement and dishonest government that we have in Washington DC.

    /

    If I used that criteria I would be buying everyday.
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