itsbob
I bowl overhand
It's never worth what it's worth, it's only worth what you can sell it for.
Gold ...
- Thread starter Tilted
- Start date
It's never worth what it's worth, it's only worth what you can sell it for.
itsbob
I bowl overhand
Tilted
..
Those prices refer to futures prices (for gold, the reported price usually refers to contracts for delivery within the current month - it's pretty much a spot price) not some kind of retail prices. I'm not talking about people going to a store (or one of those gold peddlers that advertise on TV) and buying it, and then having to find someone (e.g. the same store or a TV-advertised buyer) to sell it to when they're ready to sell. In such cases, you may be right.
But, for the pricing I've reported, you could buy it at the current trading price right now and then turn around and sell it 10 minutes later for the current trading price - there'd obviously be a small transaction fee, but I'm talking really small (on a percentage basis). To do this, of course, you would have to have an account with an exchange (or a broker who does and offers such services to you), and you can't buy in 1 oz blocks - regular gold blocks are for 100 oz, though I'm sure they have mini-contracts that are smaller.
Larry Gude
Strung Out
I bought oil today.
Piss, ####, ####, ####, ##########, mother####er and tits.
Piss, ####, ####, ####, ##########, mother####er and tits.
Tilted
..
I bought oil today.
Piss, ####, ####, ####, ##########, mother####er and tits.
Today? To-flippin'-day? Crude closed at its highest level in, what, 6 months today?
What did you pay for HO, it can't have been too far off its 6 month high?
Larry Gude
Strung Out
$2.52 7,000 gallons
Part of it is a cash flow equation tied to when I'll have money; after my poinsettias have gone. And, I need it when I need it. :shrug:
I'm still kicking myself for not topping off last spring but, I have this hard headed view that oil HAD to come down because it was the surest way for the economy to rebound and that the administration and majority party HAD to have an economic rebound.
And pigs HAD to fly.
Larry Gude
Strung Out
This is so far beyond ####ed up it ain't even funny.
E
EmptyTimCup
Guest
I think an M1A would be a better investment ........
the plus side is, you can defend yourself if need be .........
itsbob
I bowl overhand
E
EmptyTimCup
Guest
of course that is Aprox ONE M1A for each ounce of GOLD ....
so if I was going to by 10 oz of Gold, I would get 11 - 12 M1A's
E
EmptyTimCup
Guest
Tilted
..
No doubt.
Gold right now is, in large part, a play on the assumed continued general and collective public naivety or ignorance with regard to financial realities and dynamics (e.g. the essence of what money is, and how and why it works). That being the case, it could continue to run quite a bit higher or crash violently at any time. There's a high degree of anticipate-able volatility in the play. It's value is rather fragile - but at the same time vibrant - as being based, in large part, on somewhat whimsical foundations which are constituted of emotion and perception (or, perhaps, mis-perception) rather than more stable substances. Gold could be at $2000/oz a year from now, or it could be at $900/oz. Anyone that purports to be able to reliably predict which it will be is blowing smoke up your ass (or, perhaps their own), as it depends on future emotional whims that are unknowable at this point and future momentum moves that could take on a life of their own. If you're a gambler at heart, gold's a great trade right now. Safe it is not, the consistent drone of the gold peddlers (trying to capitalize on a lack of more-than-superficial understanding) notwithstanding.
The notion that it is a safer store of value than fiat currency, as a result of having intrinsic tangible value, is often significantly overstated. The reality is that most of the current value of gold isn't attributable to intrinsic tangible value any (or much) more so than the value of the Dollar is. There is some real (i.e. non-monetary) value and use to it, but not enough to justify more than a small portion of current values, especially considering the level of above ground supply and its largely non-consumable nature. So much of its perceived value is of the same nature as that of the Dollar is - the belief that others will continue to believe it is inherently valuable. Assuming that gold will maintain its value in the case of catastrophic collapse in the value of (and trust in) fiat currency is, essentially, believing that people will collectively decide to hold on to one delusion even while they collectively decide to let go of a similar delusion.
As you allude, there are things that have intrinsic, not-likely-to-be-lost value (e.g. food, tools, needed resources, even physical conditioning, health, knowledge, skills and relationships). If people are honestly looking for such things - such safety and insulation against problematic times - gold isn't really much better than paper imprinted with ink in recognizable designs is, it just feels like it is because enough people (currently) repeat that it is. Some of the non-artificial reasons that historically made its artificial value as money make sense don't apply today, at least not to the same extent they did.
Tilted
..
I guess that depends on your situation, e.g. which dugout you're in.
E
EmptyTimCup
Guest
No doubt.
Gold right now is, in large part, a play on the assumed continued general and collective public naivety or ignorance with regard to financial realities and dynamics (e.g. the essence of what money is, and how and why it works).
I prefer Silver ....... and wished I had bought 50 oz or more back @ 10
at 2000 / oz .... it would hard to make change for a tank of gas or cart full of groceries
struggler44
A Salute to all on Watch
I've been watching as well and it's like a catch 22; The price of gold goes up because the value of the dollar drops in the world market and you're caught in the middle, as soon as inflation catches up I will trade mine for loafs of bread
