With gold approaching $1000 an ounce, now may be a good time to purchase a lucky buffalo.
GUINZO1975
Posts: 182
I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal..........
GUINZO1975
0
Comments
<< <i>Not a good time to be buying gold..... Cheers, RickO >>
BST successful dealings with:MsMorrisine, goldman86
Here's a warning parable for coin collectors...
Buy low, sell high. Remember?
Higher than it's ever been? Yes. But at the top, who knows?
The bottom line is this:
If you think the dollar is going to get stronger, sell your gold.
If you think the dollar is going to get weaker, buy gold.
How it could be getting stronger is beyond me - please explain this if you have some theories.
The fed is about to lower interest rates again and the recession is only just getting started. One need only look at the headlines today to see where the economy is: http://www.azcentral.com/business/ The big neon sign says that the dollar is going to get weaker. Translation: Buy gold.
http://ProofCollection.Net
<< <i>Were energy prices to continue to rise at a sharp clip -- something the Fed does not anticipate -- it would "create a very difficult problem" for the economy, Bernanke said. Inflation would spread and growth would be further restrained, he said. If that happened, it would be a "very tough situation," >>
Some say the peak is coming, some say $2000. Who do you believe?
why not buy gold now????
imf fell on their face with the selling gold
didn't stop the run
what are your thoughts here
thanks
<< <i>Why would you want to buy something that is hitting it's all time high?
Buy low, sell high. Remember? >>
YJDGIY [you just dont get it yet!]. Its about a FREE play! Everybody says Buy Low, Sell High.... Very few know how to DO IT!
Seems like a low-risk way to make $100/coin to me...
But then again, I'm a dirty, dirty flipper. :-p
<< <i>How do you know it's at an all time high? Can you see the future? We're only halfway there!
Higher than it's ever been? Yes. But at the top, who knows?
The bottom line is this:
If you think the dollar is going to get stronger, sell your gold.
If you think the dollar is going to get weaker, buy gold.
How it could be getting stronger is beyond me - please explain this if you have some theories.
The fed is about to lower interest rates again and the recession is only just getting started. One need only look at the headlines today to see where the economy is: http://www.azcentral.com/business/ The big neon sign says that the dollar is going to get weaker. Translation: Buy gold. >>
I have plenty of theories of why you may be wrong. Buy gold now.No way. Gold is at a all time record high. Do you really think buying gold at a all time high is smart? Do you think this weak dollar will continue,on the short to medium time span maybe but not likely. The US dollar is the standard of money. US goverment and other countries will step in and begin propping up the U.S.currency. Buying gold at its current all time high is like buying a stock when its reached its all time high! No financial advisor in their right mind would suggest to one of their clients to be sure to buy stock when it is at its all time high! You buy stocks when they are low and sell stocks when they are at or NEAR their highs. Same with gold. The buying opportunities for gold was many many months ago. Not now when it is at or near its all time historic high. Fundamental business logic will always say buy low and sell high.
A big problem with your opinions/statement.. First "Do you think this weak dollar will continue,on the short to medium time span maybe but not likely.". Yes the US dollar is HIGHLEY likely to go lower in the near future! BTW. No way in hell a time to be buying stocks at this point.
<< <i>No offense Jeremy, but you watch too much CNBC. All fiat currencies eventually go to zero. The dollar is no exception. >>
I have no idea what that means? I'am not talking about the CNBC either.
<< <i>I have plenty of theories of why you may be wrong. Buy gold now.No way. Gold is at a all time record high. Do you really think buying gold at a all time high is smart? >>
I remember thinking that Google stock was a bad buy at $200. When oil hit $40 was it a bad buy? How about $50? $60? $70? $80? Those were all record highs too. Not exactly sound logic.
<< <i>Do you think this weak dollar will continue,on the short to medium time span maybe but not likely. The US dollar is the standard of money. US goverment and other countries will step in and begin propping up the U.S.currency. >>
And how, pray tell, will that happen? China doesn't need or want any more Dollars. Every corner of the world has more than enough dollars. No one needs or wants any more of them because they are backed by nothing. How are they going to prop up the currency without buying hard assets like gold? Instead they are selling gold!
<< <i> Buying gold at its current all time high is like buying a stock when its reached its all time high! No financial advisor in their right mind would suggest to one of their clients to be sure to buy stock when it is at its all time high! You buy stocks when they are low and sell stocks when they are at or NEAR their highs. Same with gold. The buying opportunities for gold was many many months ago. Not now when it is at or near its all time historic high. Fundamental business logic will always say buy low and sell high. >>
The problem is you need to see the future to know if gold is at a high. Many people think we're only getting started. And we aren't at a high if you adjust for inflation...
http://ProofCollection.Net
<< <i>
I have plenty of theories of why you may be wrong. Buy gold now.No way. Gold is at a all time record high. Do you really think buying gold at a all time high is smart? Do you think this weak dollar will continue,on the short to medium time span maybe but not likely. The US dollar is the standard of money. US goverment and other countries will step in and begin propping up the U.S.currency. Buying gold at its current all time high is like buying a stock when its reached its all time high! No financial advisor in their right mind would suggest to one of their clients to be sure to buy stock when it is at its all time high! You buy stocks when they are low and sell stocks when they are at or NEAR their highs. Same with gold. The buying opportunities for gold was many many months ago. Not now when it is at or near its all time historic high. Fundamental business logic will always say buy low and sell high. >>
Gold is at an all-time record high, but that doesn't mean it can't go higher. And I'm not saying that you should buy gold for your retirement. THAT would be foolish (well, unless you were getting ready to retire in the next couple of years
The fact is, that over the short term, say the next six months, gold is a pretty good investment from a return standpoint. And, as I pointed out before, between the time you place your order with the mint, and the time you have to actually return the stuff, you could make some decent bucks if gold continues on its climb through April.
Gold is a commodity, which is different than an equity vehicle like a stock. You're right that you shouldn't buy an investment when it's peaking, but "buy low/sell high" is REALLY "buy lower/sell higher." Or, to put it another way, Apple was around $200/share in January, and it's around $130 now. Does that mean you should be buying as much AAPL as you can??
Personally, I think gold's gonna keep going up. Maybe to $1200 in the next couple of months and maybe higher in the future.
But, as I said, I'm just a dirty, dirty flipper. So if I can make a few bucks in the short term, that'll be nice...
``https://ebay.us/m/KxolR5
<< <i>I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal.......... >>
Done! Although the Dolley uncs were just as good a deal until they pulled them
<< <i>
The US dollar is the standard of money. US goverment and other countries will step in and begin propping up the U.S.currency. Buying gold at its current all time high is like buying a stock when its reached its all time high! No financial advisor in their right mind would suggest to one of their clients to be sure to buy stock when it is at its all time high! You buy stocks when they are low and sell stocks when they are at or NEAR their highs. Same with gold. The buying opportunities for gold was many many months ago. Not now when it is at or near its all time historic high. Fundamental business logic will always say buy low and sell high. >>
The standard of money! Ha. Let's keep voting in folks who spend more than we give them. This chart is pretty revealing on the actual value of FR notes:
Gold Chart
It is people that think that the U.S. dollar's dominance can continue unchallenged that most scare me. They seem the most unwilling to preserve that dominance and accept it at fiat. Our spending over the last fifteen years or so begs otherwise. Why on earth would we continue to squander the influence we have on monetary matters now instead of letting the rich preserve their wealth through buyouts and subsidies?
<< <i>
<< <i>I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal.......... >>
Done! Although the Dolley uncs were just as good a deal until they pulled them >>
I'm going to have to disagree with you on that one. First of all, you could only buy one Dolley, right? Second of all, the First Spouses are not particularly popular. I bought a bunch of the first three and had real problems selling them. Even getting a dealer to make an offer. The Buffs have much more recognition and will be much MUCH easier to sell.
I guess when the DOW was making all time highs from 1987 to 2006 (2,000, 3000, 4000, 5000, 6000, 7000, 8000, 9000, 10000, 11000, 12000, 13000, and finally 14,000)..... that NO ONE was buying it. Obviously someone was, and more than likely most people here as well. For over 15 years the DOW was making new all-time highs. That same logic doesn't apply to gold??? The other G7 nations have been helping us prop up the dollar for the past 5 yrs, otherwise it would have fallen off the cliff by 2006. About the only country left now helping us out is the UK and the FED/PPT via offshore accounts (lol). The US govt and its allies are out of the ammo they've been using to prop up the dollar for the past 7 years (central bank gold, as well as hedge fund and OTC bank/corporate derivatives). The OTC derivatives game is nearly dead and CB's and the IMF are not selling any more gold...period. Hence there is no way other than naked short selling of gold stocks to try and keep this tsunami down much longer. And that they are still doing.
"Financial planners" were clamoring for us to buy stocks as the DOW and NASDAQ made new highs each year from 1996-2001 (brought to you by the FED increasing the money supply at 10% per year plus unlimited control on derivatives). Where are those cretins now? It's no secret that Wall Street won't recommend to the public to buy gold now because it works contrary to their primary plans. However behind the scenes you can be assured that they have been buying gold for years while it was being supressed. GHW Bush is the political force behind Barrick gold (world's #3 largest gold miner). Barrick has a strong Saudi influence and is well connected to US money via Goldman Sachs. There goal is to get bigger and consolidate the gold industry (ie get all the gold they can). You can bet that VP Cheney and Alan Greenspan have plenty of gold in their personal portfolios.
There are plenty of gold traders who got out at under $800 last fall to await the next buyback at $650-$750.....they are still waiting and have probably missed the boat entirely. As a minimum they missed a 30% run-up while playing cutesy. You ain't seen nothing yet in gold as $100 up days are still in the future.
No doubt gold will be a "terrible" buy at its new all time highs all the way to $2000+. Just a lousy first 6 years in a 10-15 yr commodities run. The DOW and S&P will continue to be "great" buys as they sink lower and lower to tempt us to re-engage. As DougleEagle59 keeps saying, watch the Dow/gold ratio to determine when we start to reach the end-game. Also know that we have to unwind dozens (or hundreds) of Trillions of dollars of potentially worthless OTC derivatives over the next few years before a sagging US dollar gets supported for a rebirth. The Fat Lady is getting dressed and starting to warm up, but she hasn't even entered the auditorium yet.
Gold is money again (not a strict commodity as it was in years past) and is competing neck and neck with the USD. This is key to understand. Gold will go to $1500+ just to rebalance the current account of the US. But it has to go further to compensate for the things discussed above as well. Right now the rest of the world (less the UK) is placing more of their bets on gold rather than US paper. This will continue until the US dollar finally bottoms 10-30% below its current levels. It's not rocket science as to where we are now and that there is no effective way to get out of it painlessly. Sure, gold will have peaks and dips down the road. But the basic trend seems pretty clear. The banks have killed the financial markets to put it bluntly. Now it's just a matter of unwinding the mess and paying the piper. Doesn't it sort of irk you that the govt lied to us for 25 years about the comparable values of gold vs fiat money?
It's 1978 again...except we can't raise interest rates to 18% like we did without causing a depression, the dollar has been severely undermined, the nation is essentially bankrupt, we have sold our manufacturing base overseas, some or most of US gold has been sold or leased off over the past 20 years, banker liquidity is essentially frozen, and there are $350 TRILLION in OTC, non-transparent derivatives still sloshing around to be accounted for (the OTC derivatives market in 1978 was essentially non-existant). Would you have bought gold in 1978 knowing what you know today? It was at an all-time high you know, and few, if any CFP's were recommending it.
roadrunner
<< <i>Gold is money again (not a strict commodity as it was in years past) and is competing neck and neck with the USD. This is key to understand. Gold will go to $1500+ just to rebalance the current account of the US. But it has to go further to compensate for the things discussed above as well. Right now the rest of the world (less the UK) is placing more of their bets on gold rather than US paper. This will continue until the US dollar finally bottoms 10-30% below its current levels. It's not rocket science as to where we are now and that there is no effective way to get out of it painlessly. Sure, gold will have peaks and dips down the road. But the basic trend seems pretty clear. The banks have killed the financial markets to put it bluntly. Now it's just a matter of unwinding the mess and paying the piper. >>
Not to mention, there are additional supply & demand fundamentals at play here. Supply has peaked and is declining, and demand is soaring, particularly overseas, as those people start increasing their buying power.
http://ProofCollection.Net
Not a good time to be buying gold....
I know, we heard a lot of that back in October and November as gold broke above $800. But $800 sure does look far away now.
10% money supply increases for the last 12 years against 1.5% increases in gold mining supplies leads to one thing - underpriced gold. An interesting article by Chris Laird this week states that Indian consumers will not be sellers of gold. They are mainly accumulators, and probably the largest buyers of gold jewelry in the world. Their tax system is so oppressive that it hinders the selling of any gold. Hence most merchants stockpile it and work around the markets. In other words, don't expect India to be playing the buy and sell game as Americans do. That will keep a large supply of available gold off the market.
rodarunner
<< <i>
<< <i>
<< <i>I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal.......... >>
Done! Although the Dolley uncs were just as good a deal until they pulled them >>
I'm going to have to disagree with you on that one. First of all, you could only buy one Dolley, right? Second of all, the First Spouses are not particularly popular. I bought a bunch of the first three and had real problems selling them. Even getting a dealer to make an offer. The Buffs have much more recognition and will be much MUCH easier to sell. >>
Spoken like a true flipper
From the collector's standpoint. Both are great coins. They're GOLD, after all !
No matter how feel about anything else
or how we mix and match them.
``https://ebay.us/m/KxolR5
If, say, 10 years from now, the first spouse coins become suddenly popular, some collectors will be sitting on a gold mine (sorry, I couldn't resist!).
And, just a point to those who talk about how Bush, Cheney, Greenspan, etc tell the public to do one thing, while doing something else...well, they're all very rich. And the rich make different investments than the rest of us. If you have ten or twenty million dollars in your portfolio, you could put, say half in precious metals (or oil futures, or rare coins or rare pens or whatever) and, even if your investment crashed, you'd still have a large sum in other diversified investments. But if you're not rich, and your life savings is a few hundred grand, you wouldn't want to put half of it into anything that was remotely risky. Or, look at it this way...you put every penny you have in buying a apartment building. Mr. Rich puts half of his $25 million fortune into a larger apartment building. What happens to the investors if these investments don't pan out? And this is a scenario that happens all the time.
And for all the people who keep talking about 2001-2008, if you put all of your money in gold and your buddy put all of his in equities in, say 1995, in 1999, you'd be looking pretty stupid. And if your buddy cashed out in 1999 or early 2000, and put all of his money in a mattress. Today, in 2008, you'd STILL be looking pretty stupid.
When the US economy turns around, the price of gold will drop dramatically. But until that time...TO THE MOON, ALICE!!
This is odd logic. First you consider the last 7 years of the commodities bull as your time frame. Said gold investor has tripled or quadrupled his money if he bought gold bullion at the start.
Certainly that guy deserves some credit. He may have even diversified away from standard equities following the crash in 2001.
But now you compare him to an equities investor in 1995 of all things. And then you assume the equities genius cashes out at the peak in 1999-2000 (uh-huh). And then incredibly, the guy sticks his money in a mattress. I think at this point you would not be able to find one investor in the world that met your criteria. Besides that, show me all the geniuses that cashed out after holding from 1995-2000 and then protected the money from continued market risk by sticking it in a matress, treasuries, gold, etc. Not many I'm sure.
Most got their hats handed to them in the Nasdaq and Tech stocks.
For every Buffet, there were probably 10 dolts that stayed way too long in riskier stocks.
Don't worry though. The stupid guy that is still holding gold and silver from 2001 is looking pretty smart compared to Joe equities. And in 5 more years he'll still be looking much smarter than Joe Dumas once the full washout of derivatives and commerical paper occurs. At that point Dumas will be looking more than just pretty stupid.
roadrunner
http://ProofCollection.Net
Current logic really suggests that sheeple get sheared. Contrarians often do much better than the herd. If everyone is doing it, or there is one standard cookbook approach that works for everyone, then it cannot possibly get you to your goal. This is the fallacy of the boomers all retiring on their stock portfolios.
roadrunner
<< <i><< Why would you want to buy something that is hitting it's all time high? >>
Ok, lets do a comparative:
The Dow Industrial Average hit an all time high of 1020.20 in January 1973.
The DJIA bottomed out on December 9, 1974 at 570.
The DJIA did not break the January 1973 high of 1020.20 until late in 1982.
Now the DJIA stands at slightly over 12,000.
So 1020 to 570 to 1020 to 12,000 currently.
Lets look at gold:
On January 21, 1980 gold hit an all time high at $850.
Gold bottomed out at 252.80 on July 20, 1999.
Gold did not break the January 1980 high of 850.00 until January 3, 2008.
Now Gold stands at slightly over 978.00
So 850 to 252.50 to 850 to 978 currently.
But we now need to do some comparative analysis.
The DJIA current average is 12,000/1020 previous high = 11.76 times its previous high set 35 years earlier.
Gold's current average is 978/850 previous high= 1.15 times its previous high set 28 years earlier.
Gold would need to appreciate to $9,996.00 per oz just to be on a comparative level with the DJIA's current average.
Now, I would never say that gold will appreciate to $9996.00 per oz but just my simple comparative analysis shows that gold is certainly not in much danger of falling too far from these levels vis a vis the DJIA at this point??????
Looks more like DJIA is in much more danger of great losses than gold at this juncture.
JMHO.
By the way, it has been 26 years since 1982 DJIA breaking its old highs. It took YEARS for the DJIA to make continual new highs.
It has only been 2 MONTHS since gold broke into new highs. While, the boom-bust cycle of gold appears to be significatly shorther than the DJIA it is NOT 25 years SHORTER!
<< <i>
<< <i>
<< <i>I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal.......... >>
Done! Although the Dolley uncs were just as good a deal until they pulled them >>
I'm going to have to disagree with you on that one. First of all, you could only buy one Dolley, right? Second of all, the First Spouses are not particularly popular. I bought a bunch of the first three and had real problems selling them. Even getting a dealer to make an offer. The Buffs have much more recognition and will be much MUCH easier to sell. >>
This is not true about the Dolley UNCs. They were one each for the first 30 days I believe. Now that they've been on sale for months
from the mint you can buy more. I placed an order for another at the $509 price on 2/20. My order is STILL "in process". Really
hoping they don't pull a quick one on me and all of a sudden change it to "No longer available". I got this order in way before they pulled
em again. Mint reps assured me that once it's in process, my card has already been charged. We'll see...
I agree with you that they aren't the most popular beginning with Dolley. I'm surprised you had a hard time selling the first three, since
they sold out so quickly. I know most of the dealers I go to call them "modern crap" and don't want it around. But people are always looking
to buy at/around spot on Ebay or the BST.
Also, as for buying gold right now. I am not buying any more than the 1/2oz Dolley for budgetry reasons, but if I had more disposable
income, I would buy more. I think it's a real possibility that gold can continue to climb towards $1250 once it gets over the $1000 hump.
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
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I would think with any kind of gold rise this week it will result in these being pulled.
The ship date would likely be 3-4 weeks (cancel order time) and another month to return makes this the best Mint gamble. Bullion collectors might not see this price much longer. We shall see what a new week brings.
Joe
<< <i>And for all the people who keep talking about 2001-2008, if you put all of your money in gold and your buddy put all of his in equities in, say 1995, in 1999, you'd be looking pretty stupid. And if your buddy cashed out in 1999 or early 2000, and put all of his money in a mattress. Today, in 2008, you'd STILL be looking pretty stupid.
This is odd logic. First you consider the last 7 years of the commodities bull as your time frame. Said gold investor has tripled or quadrupled his money if he bought gold bullion at the start.
Certainly that guy deserves some credit. He may have even diversified away from standard equities following the crash in 2001.
But now you compare him to an equities investor in 1995 of all things. And then you assume the equities genius cashes out at the peak in 1999-2000 (uh-huh). And then incredibly, the guy sticks his money in a mattress. I think at this point you would not be able to find one investor in the world that met your criteria. Besides that, show me all the geniuses that cashed out after holding from 1995-2000 and then protected the money from continued market risk by sticking it in a matress, treasuries, gold, etc. Not many I'm sure.
Most got their hats handed to them in the Nasdaq and Tech stocks.
For every Buffet, there were probably 10 dolts that stayed way too long in riskier stocks.
Don't worry though. The stupid guy that is still holding gold and silver from 2001 is looking pretty smart compared to Joe equities. And in 5 more years he'll still be looking much smarter than Joe Dumas once the full washout of derivatives and commerical paper occurs. At that point Dumas will be looking more than just pretty stupid.
roadrunner >>
My point was that people keep talking about gold and equities from 2001, where, unless you bought something like Apple Computer, you'd be much better off in gold. I wanted to give a counter example to show that you can cherry pick time frames to support either stance. In my admittedly EXTREMELY hypothetical example, the gold buyer would have bought his gold at around $400, while the equities guy would have seen the Dow at around 5000, and the Nasdaq at around 1000. By the time the market crashed, gold had dropped to $300, while the Dow was over 10,000 and the Nasdaq was over 4000. And there were plenty of investors who got out before the crash. A small number compared to those who didn't obviously, but they were there. There were people who shorted the Dow in 1929 and in October 1987, too. Some of them saw warning signs, and some were just lucky.
People here keep talking about gold in a way that they wouldn't have been 10 or 20 years ago. But my point was that anyone who was buying/hoarding gold in the mid-90s, the way they're doing today, would NOT seem like they had any understanding of finance or economics or investing.
FWIW, I'm buying gold right now, but I'm not planning on holding it for that long (maybe a year or less).
<< <i>
<< <i>
<< <i>
<< <i>I just ordered some lucky buffalos from the US Mint. At $1018.88, with the price of gold going up, it doesn't seem like a bad deal.......... >>
Done! Although the Dolley uncs were just as good a deal until they pulled them >>
I'm going to have to disagree with you on that one. First of all, you could only buy one Dolley, right? Second of all, the First Spouses are not particularly popular. I bought a bunch of the first three and had real problems selling them. Even getting a dealer to make an offer. The Buffs have much more recognition and will be much MUCH easier to sell. >>
This is not true about the Dolley UNCs. They were one each for the first 30 days I believe. Now that they've been on sale for months
from the mint you can buy more. I placed an order for another at the $509 price on 2/20. My order is STILL "in process". Really
hoping they don't pull a quick one on me and all of a sudden change it to "No longer available". I got this order in way before they pulled
em again. Mint reps assured me that once it's in process, my card has already been charged. We'll see...
I agree with you that they aren't the most popular beginning with Dolley. I'm surprised you had a hard time selling the first three, since
they sold out so quickly. I know most of the dealers I go to call them "modern crap" and don't want it around. But people are always looking
to buy at/around spot on Ebay or the BST.
Also, as for buying gold right now. I am not buying any more than the 1/2oz Dolley for budgetry reasons, but if I had more disposable
income, I would buy more. I think it's a real possibility that gold can continue to climb towards $1250 once it gets over the $1000 hump. >>
You don't want to sell something like a First Spouse on eBay. The margins on a coin like that aren't great, and you're going to pay something like $50 or more in fees. That would pretty much take any profit out of the transaction, I'd think.
The local bullion vendor said they won't buy 'em, although he might have meant that they would have just given bullion prices for 'em.
The Bush years will come home to roost and IMO anyone without PM's will be wishing they had some.
This is where I think my money is safest at this time. And I am glad I have what I have and wish I had more.
ebay ID: 78terp
ANA # R-3143946
1899 Mint Set
dolly unc's would be a nice buy too....but they look dark to me on the mint site?
i was bearish on this a few months ago big time....was i EVER WRONG!
thanks to a few bright bulbs here
<< <i>I ordered 5 yesterday and it still says on hold and back ordered,expected shipping 2/29/08.I doubt any one who orderd these recently will be getting them.But then again,who knows. >>
I ordered the other day and thought it would ship on the 29th - now it says its backordered - WHY?? - would the mint up the price and charge you the new price and not hold to the advertised $1018.00?? - dont think it's good business to advertise a price, pull the item/or backorder and charge a higher price - but then again Im dealing with the US MINT . . .
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>
The standard of money! Ha. Let's keep voting in folks who spend more than we give them. This chart is pretty revealing on the actual value of FR notes:
>>
Funny, only GW Bush has spent more than we gave him. Clinton left a balanced budget and the supposed "no tax" Republicans screwed it up.
Funny how people blame the Democrats for everything GWB has done. But they are a funny people.
Fingers crossed that they honor Saturday's purchase.
The old record price of $850 was reached in 1980. To equal the buying power $850 had in 1980 would require over $2000 in today's dollars. Therefore, in relative terms, we are not even close to a record price for gold. Same goes for silver. Silver is an insane value even at today's prices! I'm in this for the long term. Everyone needs some gold and silver to barter with when "paper" becomes worthless.
No doubt Reagan, Bush Sr. and Bush Jr. have nothing to crow about either.
People here keep talking about gold in a way that they wouldn't have been 10 or 20 years ago. But my point was that anyone who was buying/hoarding gold in the mid-90s, the way they're doing today, would NOT seem like they had any understanding of finance or economics or investing.
That's exactly the point. And in 1996-2000 people were talking about stocks like they never had since 1926-1929. Gold was well managed
by TPTB so that no one was interested in talking about it for decades. Chalk up one for the FED and Treasury. It's not 10-20 years ago
anymore, it's today. Hoarding gold in the 1990's against the FED and Govt management was obviously suicide. Even the gold miners tossed in the towel and hedged their own production to make interest rate spreads in the 1990 gold carry trade. But those times are now gone and the games disbanded. It's a fresh start and regardless of the poor return of PM's from 1980-2001, they have reversed that trend. You would have to think now that people not considering pm's must have no clue about finance or economics (ie not what they teach at colleges). It's all about economic cycles. The stock bull lasted well past it's prime due to easy credit beginning in 1996. When TPTB opened Pandora's derivatives box in the early 1990's they placed a huge hurtin' on the world.
roadrunner