uh oh...gold springs right to $532 tonight.

roadrunner · December 11, 2005 12:17PM

More of the same appears to be coming. Silver at $9.04.

roadrunner

my3cents · December 11, 2005 12:18PM

and the federal treasury just keeps on printing dollars

roadrunner · December 11, 2005 12:21PM

Yes. Another $6 BILLION or so created last week alone as reported by Mogambu Guru. But what's a few billion a day among friends?

roadrunner

markglicker · December 11, 2005 12:21PM

I have been buying up gold coins, like a madman, I hope it continues.

my3cents · December 11, 2005 12:23PM

well, when gold hits $1200, what currency are you going to exchange it for?

markglicker · December 11, 2005 12:26PM

well, when gold hits $1200, what currency are you going to exchange it for?

The movement in gold, generally exceeds the rate of inflation, so a 100% move, will probably correspond with a 20% move, in general inflation. Leaving a tidy "real" profit, if that occurs. I am using unencumbered dollars to make the purchase, I think Gold is the better alternative, right now.

fishcooker · December 11, 2005 12:31PM

well, when gold hits $1200, what currency are you going to exchange it for?

A free new car.

$600 would be a nice fishing trip.

roadrunner · December 11, 2005 12:33PM

At $1200 I just may finish off paying for my house with inflated dollars (

)......or buy a stronger currency (cando, swiss, etc.).

Another choice might be to move it all into silver or just plain old US type coins. They should be jumping by then too. Paying off some debt with cheap dollars is one thought. But I'll exchange it for whatever has not gone up enough in price compared to gold and other tangible assets. Maybe key dates???

roadrunner

my3cents · December 11, 2005 12:37PM

inflated dollars are always good for the debtor, but what about the depositor? I am sorry to say that I am sitting on way too much in fixed rate investments.

Thank god for "investment grade" gold coins, which I have a few of as well.

Which currency, do you think, will stand up best against the run-up in gold and the decline of the dollar?

ttown · December 11, 2005 12:40PM

<< <i>well, when gold hits $1200, what currency are you going to exchange it for? >>

I’ll pay off everything I own and be in a position for the next opportunity. There’s a good chance it’s not the end of the world you know……

Who knows it might be the DOW at 3000 or some repo houses for cheap as investments since most of the country will be totally broke.

FullStrike · December 11, 2005 12:49PM

<< <i>and the federal treasury just keeps on printing dollars >>

Maybe with luck, they will soon begin printing directly on rolls of Charmin. Squeezably soft!

lloydmincy · December 11, 2005 12:56PM

Most of the "broke"country will be the "little guys". The minority big guys are far fom broke, leaving very small window opportunities to take advantage of. Dow and housing still with a firm foundation anyway.

BigE · December 11, 2005 12:57PM

<<<But what's a few billion a day among friends?>> Exactly roadrunner, this is what has been happening, you can only print so much untill it isn't worth the same

----------------------------------BigE

BigE · December 11, 2005 12:59PM

What do you do with your gold profits once everything is paid for? All you can do is exchange it for de-valued dollars

-----------BigE

BigE · December 11, 2005 1:00PM

Or buy rare coins like everyone else

--------------BigE

Freak1c · December 11, 2005 1:03PM

IMO, I do feel a correction coming very soon. However, in the long run gold has only begun.

Tom

ttown · December 11, 2005 1:16PM

What’s a correction when you learn how to average your holding? The mistake most make is drop every dime they have in the market all at once and then it drops. I’ve been buying since $260 gold all the way up to $438. I remember a guy coming in the coin shop in the 80’s at peak platinum and drop $75 grand on the metal. I knew he wasn’t rich since he had a name on his shirt and probably his lives saving or an owner of a gas station. I think about him often and how sorry I felt for him, it made a major impact on my life and building wealth slowly and prudently.

anoldgoat · December 11, 2005 1:34PM

<< <i>IMO, I do feel a correction coming very soon. However, in the long run gold has only begun.

Tom >>

About 25% in one year is steep, even for the oft volitile gold.

michael · December 11, 2005 1:36PM

my3cents · December 11, 2005 1:36PM

Gold at 533.90 now....

michael · December 11, 2005 1:41PM

gold

pre 1933 gold ------ threes, generic saints, proofs, type three one dollar gold

uh oh...gold springs right to $532 tonight.

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