19 Feb 11
Originally posted by telerionI never claimed the CPI moved by 30% during that same period. Don't you know how to read?
What? I thought the CPI was all lies? Which index are you using to measure prices, and how did it perform over the time period in Pal's post?
Unless you're using a ridiculous index I guarantee prices didn't move by 30% over that period.
What I am claiming is that gold and silver prices have been suppressed by naked shorting for many years. They may actually be undervalued. The SEC is letting massive naked shorting take place in the precious metals markets.
19 Feb 11
2 edits
Originally posted by Metal BrainI never claimed that you did so you can point that insulting question back at yourself. It's pretty simple. Pal has shown you an inflation-adjusted increase in the price of gold of 30%. Your response was that the CPI is all lies. Shortly after, you claim that "prices have gone up a lot in a short period of time."
I never claimed the CPI moved by 30% during that same period. Don't you know how to read?
What I am claiming is that gold and silver prices have been suppressed by naked shorting for many years. They may actually be undervalued. The SEC is letting massive naked shorting take place in the precious metals markets.
By what measure have prices "gone up a lot in a short period of time"? If you are not using the CPI, then what index are you using? And then, did that index rise by more than 30% over the time period in Pal's post?
19 Feb 11
Originally posted by AThousandYoungGold is for bugs. You are wise to leave it alone. I'd get a kick out of the scare it put into these gold bugs if the Swiss National Bank said, "You know these prices are ridiculously high." Let's a sell just a bit of our gold on the market.
Gold is too trendy for me to trust as an investment. If I had money I'd be eyeing land right now.
Then again you can defend gold. Never mind. Hmmm.
Gold prices would tank.
19 Feb 11
Originally posted by Metal Brainthe american federal reserve will be replaced if the world socialist movement has it's way. the world federal reserve bank with be the international monetary fund and the imf
Some states are kicking around the idea of printing their own currency. I doubt the Fed wants competition so what are the chances of it happening?
http://www.boston.com/news/source/2011/02/_reuters_lee_ja.html
I think it is a good idea. I just doubt the powers that be would let it happen without a fight. What do you think?
will then circulate a world currency substitute ( some amalgamation of the yuan and euro based world pound ) and all national treasuries will print money to be given to the imf on a scale designed to "equalilze" finances and they have to purchase back the imf
pound in order to trade. the imf will then be the economic king of the world and the club of rome it's board.
19 Feb 11
Originally posted by telerionAnd once they sold the gold where would they park their money? Stocks? Bonds? Real estate? Put it under their mattress?
Gold is for bugs. You are wise to leave it alone. I'd get a kick out of the scare it put into these gold bugs if the Swiss National Bank said, "You know these prices are ridiculously high." Let's a sell just a bit of our gold on the market.
Gold prices would tank.
There is no other safe place to put it.
20 Feb 11
Originally posted by reinfeldThat is what I did.
buy bulk silver ( pre-1964 american coins ).
Telerion does not see the writing on the wall. He seems to think gold and silver are overvalued, but most people have been scared off from that because most of the mainstream economic gurus keep warning the masses to avoid it. Jim Cramer was the only exception, but that was a couple of years ago. I'm not sure what he is saying now because I don't watch him anymore.
Precious metals are not trendy at all. That is what paly and tel fail to acknowledge. If they did become trendy they would explode to even higher levels.
People often buy gold and silver because they expect a rise in inflation levels. QE1 is doing that now and QE2 is still working it's way through the economy. It will affect inflation later in the year. Smart investors don't believe Bernanke. They know he is lying and invest in gold and silver.
20 Feb 11
Originally posted by Metal BrainGold has been a crappy investment over the last 30 years:
That is what I did.
Telerion does not see the writing on the wall. He seems to think gold and silver are overvalued, but most people have been scared off from that because most of the mainstream economic gurus keep warning the masses to avoid it. Jim Cramer was the only exception, but that was a couple of years ago. I'm not sure what he is saying now ...[text shortened]... Smart investors don't believe Bernanke. They know he is lying and invest in gold and silver.
1. Is gold a good long term investment?: No. If you are looking to invest long term, you better consider something that consistently moves in the right direction. The average rate of return tracked as far back as history will go is a little better than 2%; in more recent years, the rate of return has been a little better- 4.4%. Yes, only just slightly better than inflation. If you were to have invested your money in a good index fund (i.e. S&P 500 or Dow Jones), you would have earned on average 12% in those same years! So, in other words, gold is a pretty lousy long term investment with a fairly mediocre track record. Though it’s doing very well right this second, don’t count on it.
2. Is gold a good short term investment?: Not right now; that is, if you don’t already have money in it. A common rule of thumb when it comes to investing is to NEVER buy high. And right now gold is plenty high. In fact, we haven’t seen gold on this level EVER. But, again, with its track record, I would be very careful about taking any chances. I don’t currently have much gold in my portfolio, but if a large portion of it was, this might be a good time to sell. Then again, maybe not… who can say?! Maybe it shoots up to $1,500 per ounce before it drops again.
You can see throughout the years all the many hard drops gold has taken. Consider this: if you would have invested in gold in 1983 and then held it for 20 years, you wouldn’t have made ANYTHING!
http://www.financialnut.com/is-gold-a-good-investment/
"Smart investors" like Metal Brain might as well panhandle; it generally gets a much higher return than gold.
20 Feb 11
Originally posted by no1marauderAdjusted for inflation (even the artificially low figures) gold would have to reach $2300.00 per oz to reach it's record highs.
Gold has been a crappy investment over the last 30 years:
1. Is gold a good long term investment?: No. If you are looking to invest long term, you better consider something that consistently moves in the right direction. The average rate of return tracked as far back as history will go is a little better than 2%; in more recent years, ...[text shortened]... s" like Metal Brain might as well panhandle; it generally gets a much higher return than gold.
Another false statement by No1 is exposed.
20 Feb 11
Originally posted by no1marauderThe excerpt from the article states that gold has never been higher. You need to adjust it for the official inflation numbers to get the nominal amount.
What "false statement" are you talking about?
After you do that gold has been higher.
20 Feb 11
1 edit
Originally posted by Metal BrainThat makes it even a WORSE investment since that high was in 1980.
The excerpt from the article states that gold has never been higher. You need to adjust it for the official inflation numbers to get the nominal amount.
After you do that gold has been higher.
EDIT: The statement in the article isn't mine and besides, it's not "false" just because it wasn't inflation adjusted.
20 Feb 11
Originally posted by no1marauderWhat does the high in 1980 have to do with making it a worse investment?
That makes it even a WORSE investment since that high was in 1980.
EDIT: The statement in the article isn't mine and besides, it's not "false" just because it wasn't inflation adjusted.
You quoted the web link. I guess we should not adjust minimum wage to inflation then. After all, it is higher than it has ever been. Come to think of it, almost everything is higher than it has ever been. Cars, food and refrigerators are too expensive by your logic.
20 Feb 11
Originally posted by Metal BrainYes, things should be adjusted for inflation. When you adjust gold for inflation, its worth only slightly above half of what it was 30 years ago.
What does the high in 1980 have to do with making it a worse investment?
You quoted the web link. I guess we should not adjust minimum wage to inflation then. After all, it is higher than it has ever been. Come to think of it, almost everything is higher than it has ever been. Cars, food and refrigerators are too expensive by your logic.
Does that answer your question i.e. What does the high in 1980 have to do with making it a worse investment?