Do any of you have gold?

[Zebo]

My dad says to buy some gold but can't give me a good reason other than some consipracy theory of the fed. Can you?

 

[Ameesh]

i wear a gold chain but i dont own any gold certificates.

your dad is paranoid, i would kick him if i were you.

 

[iamwiz82]

gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

 

[DaveSimmons]

If the US ever fell into barbarism gold would be as useless as paper money -- that's when you need a turbo plasma rifle and power armor

 

[Zebo]

Originally posted by: iamwiz82
gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

Ya I just can't get over how it earns nothing. Seems pretty worthless to me.

 

[tweakmm]

Originally posted by: Carbonyl

Originally posted by: iamwiz82
gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

Ya I just can't get over how it earns nothing. Seems pretty worthless to me.

and a dollar earns something how?

 

[iamwiz82]

Originally posted by: DaveSimmons
If the US ever fell into barbarism gold would be as useless as paper money -- that's when you need a turbo plasma rifle and power armor

not true, it could still be used for bartering.

 

[Aquaman]

When there is a war........... Gold prices go up

Cheers,
Aquaman

 

[GoodRevrnd]

Originally posted by: DaveSimmons
If the US ever fell into barbarism gold would be as useless as paper money -- that's when you need a turbo plasma rifle and power armor

... made out of gold! Time to bling it up Roadwarrior style!!

 

[kt]

Originally posted by: DaveSimmons
If the US ever fell into barbarism gold would be as useless as paper money -- that's when you need a turbo plasma rifle and power armor

I've heard a bar of gold to the head could hurt someone pretty bad too.

 

[Zebo]

Originally posted by: Aquaman
When there is a war........... Gold prices go up

Cheers,
Aquaman

Yes he did mention that Wierd though since it's sitting in a box somewre and no one is using it for investment/business etc and it's illegal to barder with.

 

[spaceman]

Originally posted by: Carbonyl

Originally posted by: Aquaman
When there is a war........... Gold prices go up

Cheers,
Aquaman

Yes he did mention that Wierd though since it's sitting in a box somewre and no one is using it for investment/business etc and it's illegal to barder with.

why cant you barter with gold?

 

[Vette73]

Originally posted by: tweakmm

Originally posted by: Carbonyl

Originally posted by: iamwiz82
gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

Ya I just can't get over how it earns nothing. Seems pretty worthless to me.

and a dollar earns something how?

Gold is one of the WORST investments. Its requirment has dropped by better use of copper and other metals.

And with a Dollar I put it in the bank and get X.X% intrest. Gold, diamonds, silver, etc... Bad Investment

 

[MercenaryForHire]

I wouldn't mind getting my hands on some Mafia gold ... couple rings, a big gold chain ...

Actually, I do need some to spruce up a costume party outfit. Expect a shameless link to a WTB thread in FS/T soon.

- M4H

 

[toant103]

Originally posted by: Ameesh
i wear a gold chain but i dont own any gold certificates.

your dad is paranoid, i would kick him if i were you.

hehhe

 

[tweakmm]

Originally posted by: Marlin1975

Originally posted by: tweakmm

Originally posted by: Carbonyl

Originally posted by: iamwiz82
gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

Ya I just can't get over how it earns nothing. Seems pretty worthless to me.

and a dollar earns something how?

Gold is one of the WORST investments. Its requirment has dropped by better use of copper and other metals.

And with a Dollar I put it in the bank and get X.X% intrest. Gold, diamonds, silver, etc... Bad Investment

and when did putting the money in a bank become part of the equation?
I realise that a dollar sitting in a bank account is going to earn more than a gold brick sitting on your desk

 

[Zebo]

Originally posted by: ncircle

Originally posted by: Carbonyl

Originally posted by: Aquaman
When there is a war........... Gold prices go up

Cheers,
Aquaman

Yes he did mention that Wierd though since it's sitting in a box somewre and no one is using it for investment/business etc and it's illegal to barder with.

why cant you barter with gold?

I don't know something about only US coins and bills are legal tender.

 

[Zebo]

Originally posted by: Marlin1975

Originally posted by: tweakmm

Originally posted by: Carbonyl

Originally posted by: iamwiz82
gold is universally demanded for it's beauty. If, for example, the US dollar took a nose dive and you have gold bars instead of cash, you would be just dandy because you could still exchange gold as a form of currency with its value at the equivilent pre-nose dive US dollar. Note that this is very crude example.

Ya I just can't get over how it earns nothing. Seems pretty worthless to me.

and a dollar earns something how?

Gold is one of the WORST investments. Its requirment has dropped by better use of copper and other metals.

And with a Dollar I put it in the bank and get X.X% intrest. Gold, diamonds, silver, etc... Bad Investment

Thanks that's exactly what I was thinking. Old man has too much time on his hands

 

[denali]

If you purchase gold do not look at it as an investment look at it as a security blanket. People get gold not thinking that it will go up in value but because it is a store of value. Look at the mid/late 1970's in the US the reason the price of gold went up is beacuse the overall economy was terrible. In many parts of the world today people still use gold as a store of value, they don't trust paper money. If you do decide to get gold don't put it in a saftey deposit box however because in the past the US government has confiscated gold. I don't know about today but in the past most money managers suggested that you put between 5 and 10 percent of your porfolio in gold.

I own gold and I don't look at it as an investment but as a currency of last resort. I guess you could cal this paranoid but I look at it as peace of mind. I also have several 1000oz silver bars that I picked up in trades and what not.

 

[Zebo]

Originally posted by: denali
If you purchase gold do not look at it as an investment look at it as a security blanket. People get gold not thinking that it will go up in value but because it is a store of value. Look at the mid/late 1970's in the US the reason the price of gold went up is beacuse the overall economy was terrible. In many parts of the world today people still use gold as a store of value, they don't trust paper money. If you do decide to get gold don't put it in a saftey deposit box however because in the past the US government has confiscated gold. I don't know about today but in the past most money managers suggested that you put between 5 and 10 percent of your porfolio in gold.

I own gold and I don't look at it as an investment but as a currency of last resort. I guess you could cal this paranoid but I look at it as peace of mind. I also have several 1000oz silver bars that I picked up in trades and what not.

How is it the money of last resort if you can't use it as money? And are you sure US government confiscated gold in safty deposit boxes? On what grounds?

I'm sure this 5% rule is good sound advice but I still see no reason for it for the concerns I stated above.

 

[Orsorum]

Gold also tends to be inversely correlated to the overall movement of the market (think of it as investing in umbrellas). When the market is doing well, gold does poorly - hence, a poor investment. However, when the economy suffers, gold tends to rebound and outperform standard market investments.

 

[lupohki]

Only platinum touches this skin ...

 

[her209]

Originally posted by: lupohki
Only platinum touches this skin ...

I'll only let brass touch mine.

 

[Maetryx]

I have done rather good lately in gold mining stocks. They react explosively to relatively minor increases in the price of gold, because it costs about $250/oz to mine gold. So gold at $260 is $10 profit. Gold at $320 is $70 profit per oz, an increase of 700%. But who knows if the upward movement in gold prices is going to continue.

Scholarly gold price fixing conspiracy web site gata.org.
Kitco.com gold prices, sales, information
Gold-Eagle.com, the USA Today of gold news sites

 

[911paramedic]

I have one kruggerand sitting in my safe. My grandfather gave it to me long ago, so yes, I own one ounce.