Poll: Gold vs. Paper Money

[ReelBusy1]

I like gold.
Silver too.
Prices are shooting up which is okay but I like metal for it's international liquidiy.

 

[Rolln J]

I like gold too - I live in what used to be a thriving gold town in 1852 - population was 12,000 - now its under 200 - all it takes is to find you first nugget and then you get the fever!

 

[ReelBusy1]

I like gold too - I live in what used to be a thriving gold town in 1852 - population was 12,000 - now its under 200 - all it takes is to find you first nugget and then you get the fever!

the original boom and bust cycle

 

[Rolln J]

yep - I have an old school miners cabin still on my property, prolly the last one around town.

 

[hubcap]

the best thing one can do in a weak economy is buy gold and silver.

 

[SSHZ]

Problem is I'm guessing the price of gold is close to toping out, now that Obama looks like he'll real in some of the spending. If you're not in it yet, it's probably too late.

Also, have you tried to buy gold lately. Some handlers are charging 20-30% fees to sell gold to you. You'll never make a profit and could lose as the price falls.......

 

[v0ssman]

I want that Platinum baby!:rofl

 

[ReelBusy1]

Problem is I'm guessing the price of gold is close to toping out, now that Obama looks like he'll real in some of the spending. If you're not in it yet, it's probably too late.

Also, have you tried to buy gold lately. Some handlers are charging 20-30% fees to sell gold to you. You'll never make a profit and could lose as the price falls.......

like anything involving money you do have to buy smart, negociate well and take advantage of opportunity.
i just picked up some gold coins & sm. bars and some silver bars in a private sale from a guy who desperately needed money. I got a very very good deal vs that days spot price, I paid 82%. It's not easy and often but it can happen.

 

[Rolln J]

just heard yesterday of a guy here who was digging a post hole and found a 5 oz nugget - he kept digging and found 3 barrels full of morgan silver dollars - lucky bastard if thats true - trying to verify the story...

sounds too good to be true.

 

[Jack_Baybeh]

The only thing that makes paper currency worth anything is that we all have faith in it. The gold standard does not exist anymore. New currency is created by debt not the amount of gold this nation(USA) has in reserve. Sad but true. We are at the mercy of the Federal Reserve Bank (not affiliated with the federal government btw) and the global banking system. I'd take gold and silver over paper no doubt. I would take raw farmable land over precious metals. Paper currency is not what makes you wealthy it's the amount of real assets you posses. Everyone should read up on this subject especially in times like these. Be well.

 

[hubcap]

Problem is I'm guessing the price of gold is close to toping out, now that Obama looks like he'll real in some of the spending. If you're not in it yet, it's probably too late.

IF theres one relatively safe bet, its gold. at any reasonable price. 37.86/spot oz/ at close today.

reeling in spending is now, is pretty much meaningless, considering the mountain of debt we, already, are dumping on the next generation. the dollar is going to hafta gain value somehow. either they shift from gold.....or the gold value rises. (hmm...which is "easier." and "more efficient.")

Also, have you tried to buy gold lately. Some handlers are charging 20-30% fees to sell gold to you. You'll never make a profit and could lose as the price falls.......

like anything else.....
BUYER BEWARE.

its best to be an educated consumer.
buy gold. cant afford that?
buy silver.

youll thank me in 10 years.


-cap

 

[lollipopman]

i would rather have land, thats one thing we cant recreate....

 

[revolutionseeds]

I'm happy this is being talked about! In our biz a lot of cash is flowing around, remember it's fucking paper!! I started buying gold a few years ago....and if you've read the news lately it's breaking records daily. I think people should go secure their savings before the dollar drops to nothing, and yes it's going too! I'm not saying go cashless and buy a shitload of gold, but I recommend at least 50%. Silver actually is a better investment, IMO, it's undervalued more then gold. On that note, I also believe the gold market is going to bubble, basically like the housing market, so make sure you know when to sell and where. Just my 2 cents.

 

[hubcap]

i would rather have land, thats one thing we cant recreate....

that too


"aint makin more dirt."

BUT that also depends on where the land IS....

golds value is universal, while real state/land isnt.
an acre/parcel of land in manhattan is worth MUCH more than an acre (or 1000 for that matter) in idaho.

-cap

 

[redroot]

me and my uncle speak about this. money isnt going to be worth is value soon. gold and weed will be worth more!!:rauch08::cash

 

[SSHZ]

Great point redroot. Start stashing your oz's in deep freeze..... one day we'll be paying our mortgage with it.

 

[ReelBusy1]

37.86/spot oz/ at close today.

complete agreement except that is the spot price of gold per gram not oz.

FYI - 31.1 grams per troy oz.

 

[Jalisco Kid]

Land on the pacific is where to invest from chile to canada it's all good. Gold will top out soon,India bumped the price good buying all those tons. It will settle around 1,250 until we start fucking with Iran. JK
I bought my first 20 peso at 327. A week later it dropped and stayed down for a long time. I could have bought a nice board then with the money,just as I could now 20 years later if I sold it. Now if I had bought beachfront property in Mex 20 years ago I would be doing a lot better. Buy in Nicaragua or El Salvador for the best/dangerous investments.

 

[The Joker]

Investing basics:


The question is when to buy.

The trick to making money in any investment is to buy low and sell high.

When everyone is selling off and running for the hills is when you buy.

When everyone is running to buy something at it's peak is when you SELL.

I couldn't think of a worse time to buy gold than now.

If you bought in the late 90's early 00's when the stocks were strong and held on you are in a great position to SELL now. But now is a stupid time to buy.

I don't have much to invest, but I held onto all my losing stocks. They have all recovered. I had one loser that finally regained its value and I sold it. I held onto the cash...

In November 08 everyone was saying the sky was falling and selling stock in perfectly good profitable companies. I bought American Express. It's up 110% since then.

I also bought Netflix: up 128%.

Since everyone is rushing toward gold, you should look to what they are all overlooking. Great long term investments over looked by panicked people too lazy to do 15 minutes research are everywhere.

One should only invest money you won't need for 5 years and in an investment for at least that long. Which means you buy something you think has long term value.

Do you really think that if you buy and hold gold at todays market panic values it will be worth that in 5- 10 years when you sell? Maybe.

But you will probably be buying high and selling low.
When everyone is freaking out and selling gold because it bottoms out in a few years is when it will be a great time to buy gold.

My 2c. I have some cash left and I'm waiting for commercial real estate based banks and commercial foreclosures in 2010 to make prices crash and create more deals.

 

[boxturtle]

I like gold when the dolar is hurting the price of gold goes up, and when the economy is strong gold goes up. I think i might just have buy gold.