Question on Buying Gold
- Thread starter ultrarunner
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JB4310
Super Member
You wont need your guns just cause gold goes to 6K an ounce, it's just an indication that no currency is worth much. Your dollars will be/are devalued but folks wont be turning into zombies yet.
Crime does move in line with poor economic times, but gold at 6k will not be doomsday by itself. Could be a good set up for bad/worse times to come, so don't get rid of the guns yet either.
JB
grsthegreat
Super Star Member
Yup, i agree. we grow our own veg's and such and can can for a rainy day. We have access to fresh water lake a few miles away that holds trillions of gallons of drinkable water. As far as i know you cant drink or eat gold.
I live in an area where you can hunt to stock your freezer also, and i dont think gold would make good bullets either.
and as an afterthought. In 1980's i had purchased some gold Kruggerands just for the heck of it....they were in the $600 - 640 per ounce range. I held onto those for quite a few years, and made about $50/oz profit when i sold them. Back then i thought...what a stupid investment.
Now if gold was selling for $640/oz nearly 30 years ago, then with inflation it SHOULD be selling for:
based on the inflation data CPI which is 82 in 1980 and 211 at present and extrapolating this data and applying the method of partial differentiation on this
1$ in 1980 = 3.57$ today
Source(s):
www.inflationdata.com
640 x 3.57 = $ 2,284.00 today.
So according to this, gold still hasnt even cought up to where it SHOULD be selling at to have made a profit over 30 years.
I live in an area where you can hunt to stock your freezer also, and i dont think gold would make good bullets either.
and as an afterthought. In 1980's i had purchased some gold Kruggerands just for the heck of it....they were in the $600 - 640 per ounce range. I held onto those for quite a few years, and made about $50/oz profit when i sold them. Back then i thought...what a stupid investment.
Now if gold was selling for $640/oz nearly 30 years ago, then with inflation it SHOULD be selling for:
based on the inflation data CPI which is 82 in 1980 and 211 at present and extrapolating this data and applying the method of partial differentiation on this
1$ in 1980 = 3.57$ today
Source(s):
www.inflationdata.com
640 x 3.57 = $ 2,284.00 today.
So according to this, gold still hasnt even cought up to where it SHOULD be selling at to have made a profit over 30 years.
schoolsout
Veteran Member
Y'all do what you want
What is funny is some of you think that because one owns gold, he doesn't grow/kill his own food or have guns....this is a tractor site. Are you serious?
That said, there may be a 6 month period when things get shaken up so bad and our JIT inventory system proves to be inefficient because of extreme fluctuations in currencies, but it won't be the end of the world.
If you "can't eat gold" people would take the time to read up on currency failures in the past, you will see that gold (along with some other assets) helped those living through it get to the other side with their wealth.
Also, some of you still need to read up on "money" and how it is used for trade. You seem to think you will be able to barter your food for other stuff. That may or may not happen.
Brin keeps skipping over the scenario where he has tomatoes, but needs gas. The guy with the gas also has tomatoes and doesn't need any more. The guy with the gas needs fertilizer. So, either Brin needs to get fertilizer from a guy that may or may not need tomatoes in order to get some gas or, through the magical use of "money," he can give the guy a little and that guy can then get what he needs when he needs it.
Christ...this is elementary stuff here.
What is funny is some of you think that because one owns gold, he doesn't grow/kill his own food or have guns....this is a tractor site. Are you serious?
That said, there may be a 6 month period when things get shaken up so bad and our JIT inventory system proves to be inefficient because of extreme fluctuations in currencies, but it won't be the end of the world.
If you "can't eat gold" people would take the time to read up on currency failures in the past, you will see that gold (along with some other assets) helped those living through it get to the other side with their wealth.
Also, some of you still need to read up on "money" and how it is used for trade. You seem to think you will be able to barter your food for other stuff. That may or may not happen.
Brin keeps skipping over the scenario where he has tomatoes, but needs gas. The guy with the gas also has tomatoes and doesn't need any more. The guy with the gas needs fertilizer. So, either Brin needs to get fertilizer from a guy that may or may not need tomatoes in order to get some gas or, through the magical use of "money," he can give the guy a little and that guy can then get what he needs when he needs it.
Christ...this is elementary stuff here.
5030
Epic Contributor
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I look at gold, platnium, silver and any precious metal like this....
It's really not worth anymore than it was 10 or 15 years ago. It's just that the dollar (and other world currencies are devaluing) so the price of precious commodities is merely keeping pace with the ever increasing worthlessness of the paper currency. The value of gold (and other precious metals) is relative to the rate of inflation/devaluing currency.
I said years back that at some point in the future, it will take a wheelbarrow full of worthless FRN's to buy a roll of toilet paper.
You can't eat gold, it won't keep you warm and it won't keep the rain off your head. I have a bit but I don't think about it often.
However, firearms and ammunition will, if need be. If, at some point in time, conditions in this country become tenuious and some undesireable knocks on my door and I open it and point a gold bar at them...guess what? they are gonna take the gold. If I point a firearm at them, they'll leave post haste, that is, if I don't turn them into a leaky mess.....
The one thing I'd never do is invest in gold, where a third party has physical possession. People are people and I look at that as a scam.
Hard goods, of all description, really haven't increased in price in recent history, it's just that they are keeping pace with the ever decreasing currency value.
Finally, like Rothschild said years ago, "He who controls the money, controls the people". Look to the controllers of the money to find your answers.
The Federal Reserve is nothing more than a Ponzi scheme perpetuated by Fractional Reserve Banking. However, because of governmental controls, we have no choice but to use it as a vehicle to obtain what we need, like it or not.
beppington
Elite Member
Now wait a sec. How do you know the guy doesn't need any more tomatoes?
schoolsout
Veteran Member
lol...
brin
Super Member
schoolcout,
I know you are advocating buying gold so I am asking your opinion on what I got in an email today...I have pasted it below....Thanks
__________________
Total Government Control of Bullion
Phase One
complete)
Phase Twoin process)
Final Phase: _________
Fellow Conservatives,
You're probably already aware that Obama Law makers Banned Over The Counter Physical Bullion for All U.S. Residents. The Ban of OTC Physical Bullion is part of the Dodd-Frank Act and went into effect on July 16, 2011.
The BREAKING NEWS is that the Feds, Are Now Seeking Jurisdiction over 10 ounce gold Transactions.
The Commodity Futures Trading Commission(CFTC) Just approved A contract in the Transactions Size of 10 Gold Ounces AND the Amendment of Rule 855, Pursuant to Section 5c(c) of the Commodity Exchange Act. The Anticipated Effective date is September 12, 2011
Discover How this New Law Empowers Federal Agencies and What Restrictions may be Imposed on Gold Bullion. Plus, Discover Their Ultimate Plot.
Click Here: Educate yourself BEFORE New Restrictions > http://www.goldworth.com/townhall.html
I know you are advocating buying gold so I am asking your opinion on what I got in an email today...I have pasted it below....Thanks
__________________
Total Government Control of Bullion
Phase One
complete)Phase Two
in process)Final Phase: _________
Fellow Conservatives,
You're probably already aware that Obama Law makers Banned Over The Counter Physical Bullion for All U.S. Residents. The Ban of OTC Physical Bullion is part of the Dodd-Frank Act and went into effect on July 16, 2011.
The BREAKING NEWS is that the Feds, Are Now Seeking Jurisdiction over 10 ounce gold Transactions.
The Commodity Futures Trading Commission(CFTC) Just approved A contract in the Transactions Size of 10 Gold Ounces AND the Amendment of Rule 855, Pursuant to Section 5c(c) of the Commodity Exchange Act. The Anticipated Effective date is September 12, 2011
Discover How this New Law Empowers Federal Agencies and What Restrictions may be Imposed on Gold Bullion. Plus, Discover Their Ultimate Plot.
Click Here: Educate yourself BEFORE New Restrictions > http://www.goldworth.com/townhall.html
schoolsout
Veteran Member
I agree with much of what you say
Our "economy" of the past 30+ years (at least) has been one of smoke and mirrors built on debt/leverage provided by fractional reserve banking and the shadow banking sector (Over the counter derivatives and the like).
Ludwig von Mises said it best...
And to piggy back on the Rothschild quote...
Gold is the "Power Money." It is the foundation of which all other currency derivatives are formed.
Below pic is "Exter's Pyramid"
That said, there will be a phase in the gold sector where speculators and Johnny ComeLatelys will join in and drive the price over and beyond it's fair value...to the few that can time it just right, they will make extraordinary gains.
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5030
Epic Contributor
- Joined
- Feb 21, 2003
- Messages
- 26,998
- Location
- SE Michigan in the middle of nowhere
- Tractor
- Kubota M9000 HDCC3 M9000 HDC
Brin...
Like all 'new' things, nothing is really new and everything has been done before.
Wasn't it Wilson or Rosevelt than made the public ownership of gold illegal?
It will happen again and it's only a matter of time.
At that juncture, 'law abiding' citizens will have to turn in their gold in exchange for paper currency backed by nothing more than a promise to pay.....
And we all know how good the Central Government is about keeping it's promises, don't we?
Past administrations and more importantly, the current one, want curtailment of gold buying by the public because those investing in a tangible commodity, like gold, aren't investing in and using worthless FRN's (except to buy the commodity in the first place.....)
Like all 'new' things, nothing is really new and everything has been done before.
Wasn't it Wilson or Rosevelt than made the public ownership of gold illegal?
It will happen again and it's only a matter of time.
At that juncture, 'law abiding' citizens will have to turn in their gold in exchange for paper currency backed by nothing more than a promise to pay.....
And we all know how good the Central Government is about keeping it's promises, don't we?
Past administrations and more importantly, the current one, want curtailment of gold buying by the public because those investing in a tangible commodity, like gold, aren't investing in and using worthless FRN's (except to buy the commodity in the first place.....)