How do you view gold?

  • Posted by a hidden member.
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    Feb 25, 2020 4:43 AM GMT
    Gold is element 79 and its symbol is Au. Though the name is Anglo Saxon, gold originated from the Latin Aurum, or shining dawn, and previously from the Greek. ... Gold along with silver and copper, form a column in the periodic table.
    element-symbol-square-Au-periodic-table-
    Do you see it as an investment?
    Maybe you regard it as a store of wealth?
    Perhaps you see it as extraterrestrial means for energy?
    Gold fever has captivated others for many many years!
    In any case, the demand is way up! If you had invested a few years
    back you might see your net worth jumping for joy!
    bars-New-York-Assay-Office-US-Mint.jpg

    gold.gif

    https://www.kitco.com/charts/livegold.html
  • Posted by a hidden member.
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    Feb 25, 2020 11:23 AM GMT
    I’m not interested in gold, except for its functionality. I no longer wear it, after my hair greyed, today wear silver-toned metals instead, that match my coloration & clothing better.

    Gold makes good electrical contacts, especially for electronics and audio equipment. My fountain pen has an 18k gold nib (though tipped with iridium for wear resistance). Gold has other industrial & scientific applications which don’t concern me directly.

    I’m dubious of gold as a financial investment, its main attraction being alleged stability during financial market upheavals. As an “apocalyptic” individual savings it’s only good if you keep it with you, since gold credits on paper could be as ephemeral as stock certificates if everything breaks down. Keeping anything physical of value with you would be clumsy, and subject to looters. And how do you buy everyday essentials with pure gold?

    For speculative trading gold could have some attraction. But so can any commodity, and often with better & quicker returns.

    No, I leave gold to others, like governments and large institutional traders. In my circumstances it has no appeal. Compared to someone like Donald Trump, for which gold has a childishly immature and egotistical allure.
  • Posted by a hidden member.
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    Feb 25, 2020 2:58 PM GMT
    Gold is ingrained in the culture and a part of the Indian belief system. Not only is it integral to weddings, gifts of gold are common for anniversaries, birthdays and religious festivals. Gold jewellery is not regarded solely as adornment. It is a store of wealth. At one time it was widely accepted that women could not own anything except for their gold jewellery. That custom still prevails outside the major cities. Gold has spanned centuries and millennia in India.

    The people of India have never experienced a bear market of any consequence in gold. Since 1970 the Indian rupee has lost 88.7% of its purchasing power compared to the U.S. dollar. But the people’s purchasing power has been maintained thanks to gold. The first chart shows India’s fiat failure, with the rupee falling sharply in purchasing power. The second chart demonstrates how India’s purchasing power has been maintained thanks to the rising price of gold. The people of India have never experienced a bear market in gold. Gold may be intricately intertwined with their beliefs and their culture, but it has also allowed to the people to maintain and preserve their wealth. Maybe that explains why the people are reluctant to give up their gold for a piece of paper from the government. Westerners may have something to learn from India’s love affair with gold.

    https://bmg-group.com/love-affair-india-gold/

  • bro4bro

    Posts: 3904

    Feb 25, 2020 5:01 PM GMT
    It's a plot device.
    The obsession with gold forms the premise of some of the greatest movies ever made

    Goldfinger-hp-GQ-07Apr15_rex_b.jpg

    the-treasure-of-the-sierra-madre-1200-12

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  • Posted by a hidden member.
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    Feb 25, 2020 5:52 PM GMT
    I think the history channel has the reality show the Klondike Gold rush, Have you seen
    the craziness these guys go through for a single Troy Ounce?


    A troy ounce is a unit of measure used for weighing precious metals that dates back to the Middle Ages. Originally used in Troyes, France, one troy ounce is equal to 31.1034768 grams, according to the U.K. Royal Mint.
  • Posted by a hidden member.
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    Feb 25, 2020 5:58 PM GMT
    I never cared for gold, and see one flaw in calling it the highest value..... what if someone colourblind goes to a jeweller? they can't tell the difference between gold and any other metal presented to them.
  • roadbikeRob

    Posts: 22729

    Feb 25, 2020 7:17 PM GMT
    I have heard that gold is the best conductor of electric power.
  • Posted by a hidden member.
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    Feb 25, 2020 9:10 PM GMT
    roadbikeRob saidI have heard that gold is the best conductor of electric power.


    That's true and like many natural resources it's becoming more rare. Supply and demand
    cause the fluctuation of Gold and if you play your cards right, riding on the "gold bug" wave
    can literally make you very wealthy. One thing....you have to be really smart about it!
  • Posted by a hidden member.
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    Feb 25, 2020 9:30 PM GMT
    Every American investor should, in my opinion, have precious metals in his/her portfolio, as protection against the big, stupid, irresponsible, out-of-control federal government (which the Democrats hope to expand without discernible limit).

    “Boomers” will remember when American dimes, quarters and fifty-cent pieces had 90% silver content. Those coins were rapidly driven out of circulation by a new debased coinage.

    The value of these coins fluctuates with the market price of silver, but the Mercury dimes in this photo are generally worth at least $2 each. The quarters are worth at least $3 each. The "halves" are worth about $7 each.

    ?u=https%3A%2F%2Ffthmb.tqn.com%2Frf-83bP

    Boomers may remember when American paper currency said “Silver Certificate.” A bearer could, in theory, exchange the bill for silver. Those silver certificates were also driven out of circulation by unbacked paper.

    ?u=http%3A%2F%2Flibertycoinandcurrency.c

    Some Boomers may have seen and even handled an American $20 gold coin designed by St. Gaudens. It is stunningly impressive. It makes today's coinage seem like crap by comparison. How can a $20 coin be worth about $3,000 today? The "magic" of paper currency debasement.

    ?u=https%3A%2F%2Fwww.coinstudy.com%2Fima

    Today, it costs more than one cent to manufacture a penny. Today’s paper currency is arguably nothing more than special ink slapped on fancy paper, backed by nothing.

    Throughout history, big, stupid, irresponsible governments have made paper money worthless.

    Here is a photo of Venezuelan currency, made worthless by the socialist government, and discarded in the street. This represents legalized theft by government.

    the-donald-venezuela.jpg?resize=540,960

    There is no government on earth big, stupid, and irresponsible enough to make precious metals such as gold, silver, and platinum, worthless.

    Thanks in large part to irresponsible presidents like maobama, and irresponsible Congresses, it is now impossible for the United States to pay its obscene national debt. It is almost a foregone conclusion that the federal government will at some point be forced to “solve” this problem by monetizing the debt, i.e., creating $trillions out of thin air, which is what the Federal Reserve Bank insidiously does today.

    Debasing a currency is a great way to debase and collapse a civil society.

    Imagine a President with sufficient integrity to boldly propose that America return to a gold standard.

    That would be President Trump.
  • roadbikeRob

    Posts: 22729

    Feb 25, 2020 11:16 PM GMT
    suckitup said
    roadbikeRob saidI have heard that gold is the best conductor of electric power.


    That's true and like many natural resources it's becoming more rare. Supply and demand
    cause the fluctuation of Gold and if you play your cards right, riding on the "gold bug" wave
    can literally make you very wealthy. One thing....you have to be really smart about it!
    Both Nevada and Mexico have large reserves of gold despite the heavy mining over the past 100+ years.
  • Posted by a hidden member.
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    Feb 26, 2020 7:36 AM GMT
    Have you ever had gold on.a doughnut?
  • FormerShark

    Posts: 590

    Feb 26, 2020 10:32 AM GMT
    Gold and silver have been, over the past 40 years, the worst investment ever. As a former commodities broker, I wouldn't let my clients throw their money into the toilet like that. I leave it to brain-dead ignoramuses like MonkeyFecesBoy above to do it.

    Want some math?
    From 1980 to today, the inflation multiplier is 3.14.
    Gold peaked in 1980 at roughly $800/troy oz.
    The equivalent in 2020 is $2512.
    The current spot price is $1648.
    If you'd put your life savings in gold in 1980 they'd be worth 33% LESS than stuffing your cash into a mattress.

    Leave the precious metals to idiots.
  • Posted by a hidden member.
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    Feb 26, 2020 1:08 PM GMT
    FarMoreSkank saidGold and silver have been, over the past 40 years, the worst investment ever. As a former commodities broker, I wouldn't let my clients throw their money into the toilet like that. I leave it to brain-dead ignoramuses like MonkeyFecesBoy above to do it.

    Want some math?
    From 1980 to today, the inflation multiplier is 3.14.
    Gold peaked in 1980 at roughly $800/troy oz.
    The equivalent in 2020 is $2512.
    The current spot price is $1648.
    If you'd put your life savings in gold in 1980 they'd be worth 33% LESS than stuffing your cash into a mattress.

    Leave the precious metals to idiots.

    As sane, informed people know: if a person stuffed $800 cash into a mattress in 1980, its purchasing power today would only be equivalent to about $260.

    The idle $800 cash lost about two-thirds of its purchasing power, making it one of "the worst investments ever" due mainly to government currency debasement.

    Lunatic leftists trust personal-attack-turd-flinger Skank for advice on all of their personal investments.

    "If you had purchased $100 in gold in 1971, it would be worth over $3,040 in today’s dollars.

    "But if you had left your $100 in cash, you would still have only $100 in cash, which today only retains about 17% of its former value.

    "Similar to gold, if you had purchased $100 in silver back in 1971, it would be worth over $1,200 in today’s dollars."

    "Because the Federal Reserve continues to print money out of thin air, or inject new dollars into the financial system with mere keystrokes, real gold and silver will continue to rise in nominal dollar price."


    http://goldsilverworlds.com/money-currency/precious-metals-vs-the-formidable-loss-of-purchasing-power-of-the-dollar/

    ?u=http%3A%2F%2F4.bp.blogspot.com%2F-97Y

    “Repulsive, ignorant, self-important, foul-mouthed, unhinged, and probably hell-bound, but Skank makes up for it by crapping out bitchy-schoolgirl personal attack turds, thought by leftists to be towering intellectual achievements.”

    “It's way past time that you upgrade your vomit-inducing mug shot to a pic of a maggot feasting on a dog turd.”

  • FormerShark

    Posts: 590

    Feb 26, 2020 1:30 PM GMT
    I see our math-challenged poop fetishist is at it again. That stuff about $100 being worth $3000 today is a lie. Until Nixon decoupled the price, gold was statutorily set at $35/oz by FDR. Individual citizens were not permitted to own gold except in the form of coins, and only those that had been grandfathered in. So while the price was $35, you couldn't buy any. The moment gold sales opened to the public, the price shot up by a factor of ten.
    So you would never have made those returns and MonkeyPoopEater is lying to you. I guess he doesn't care that Jesus is going to send him to the depths of hell for all eternity for the sin of lying.
    Or more likely he's just fucking stupid.
  • Posted by a hidden member.
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    Feb 26, 2020 4:37 PM GMT
    FarMoreSkank saidPsychotic Skank turd

    infographic_gold_silver_value_2014.jpg

    ?u=https%3A%2F%2Fcdn.shopify.com%2Fs%2Ff

    “Repulsive, ignorant, self-important, foul-mouthed, unhinged, and probably hell-bound, but Skank makes up for it by crapping out bitchy-schoolgirl personal attack turds, thought by leftists to be towering intellectual achievements.”

    “It's way past time to upgrade your vomit-inducing mug shot to a pic of a maggot feasting on a dog turd.”
  • carew28

    Posts: 1510

    Feb 26, 2020 8:58 PM GMT
    A long time ago, you used to be able to buy gold coins in a bank, but that ended years ago, and banks no longer sell gold coins. It seems risky to buy them through the mail. There are local gold merchants who sell gold and silver, but I'm guessing that they inflate their prices over the actual worth of gold, so that they can make a profit. Where's the best place to purchase gold nowadays, either as coins, or as bullion ?
  • FormerShark

    Posts: 590

    Feb 26, 2020 9:56 PM GMT
    jockjoy said
    FarMoreSkank saidPsychotic Skank turd

    infographic_gold_silver_value_2014.jpg

    ?u=https%3A%2F%2Fcdn.shopify.com%2Fs%2Ff

    “Repulsive, ignorant, self-important, foul-mouthed, unhinged, and probably hell-bound, but Skank makes up for it by crapping out bitchy-schoolgirl personal attack turds, thought by leftists to be towering intellectual achievements.”

    “It's way past time to upgrade your vomit-inducing mug shot to a pic of a maggot feasting on a dog turd.”

    Does MonkeyFecesEater realize that gold and silver are the only unregulated commodities? Does this stupid fuck understand that "Money Metals Exchange" is in the business of grifting you out of your life savings knowing that there are no consequences for lying?

    I know this will fall on deaf ears because you hate me and everything I stand for, but before I retired THIS IS HOW I MADE MY LIVING. So I suggest you not doubt my expertise, just as I don't doubt your expertise at cleaning toilets or whatever you do. And before you get all angry (haha but of course you will, anger is the only thing that gets your sad little nubbin of a penis hard), cleaning toilets is a respectable career for someone of your mental abilities.
  • Posted by a hidden member.
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    Feb 27, 2020 12:42 AM GMT
    FormerShark saidGold and silver have been, over the past 40 years, the worst investment ever. As a former commodities broker, I wouldn't let my clients throw their money into the toilet like that. I leave it to brain-dead ignoramuses like MonkeyFecesBoy above to do it.

    Want some math?
    From 1980 to today, the inflation multiplier is 3.14.
    Gold peaked in 1980 at roughly $800/troy oz.
    The equivalent in 2020 is $2512.
    The current spot price is $1648.
    If you'd put your life savings in gold in 1980 they'd be worth 33% LESS than stuffing your cash into a mattress.

    Leave the precious metals to idiots.


    So is everyone who ever invested in Gold considered an idiot?
    Putting all your life savings or equity into one investment could catch up with you. It might not be a bad idea
    to diversify your assets. You must know that and I'm sure you're a multimillionaire by now, right?
  • Posted by a hidden member.
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    Feb 27, 2020 1:19 AM GMT
    Gold is disaster insurance. Get some and just put it in a corner.

    The history of paper money is littered with failures.

    If the worst doesn't happen and you are 90 yo? Sell it. You don't need the insurance anymore...

  • Posted by a hidden member.
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    Feb 27, 2020 4:47 AM GMT
    I just want to feel like Captain Jack Sparrow and have a treasure
    chest full of pre 1930's gold coins, some buffalo coins
    and a few other gold bars. Why not?
  • FormerShark

    Posts: 590

    Feb 27, 2020 7:39 AM GMT
    suckitup said
    FormerShark saidGold and silver have been, over the past 40 years, the worst investment ever. As a former commodities broker, I wouldn't let my clients throw their money into the toilet like that. I leave it to brain-dead ignoramuses like MonkeyFecesBoy above to do it.

    Want some math?
    From 1980 to today, the inflation multiplier is 3.14.
    Gold peaked in 1980 at roughly $800/troy oz.
    The equivalent in 2020 is $2512.
    The current spot price is $1648.
    If you'd put your life savings in gold in 1980 they'd be worth 33% LESS than stuffing your cash into a mattress.

    Leave the precious metals to idiots.


    So is everyone who ever invested in Gold considered an idiot?
    Putting all your life savings or equity into one investment could catch up with you. It might not be a bad idea
    to diversify your assets. You must know that and I'm sure you're a multimillionaire by now, right?

    Look, I know this goes against a lot of things you've probably heard but there's a reason that no economy in the world is on the "gold standard" these days and unless you want hours and hours of lectures on macroeconomics, you can just accept that there are people out there who know more on this subject than you or MonkeyFecesEater. Gold is pretty and for the most part worthless. As for "preppers" who think they need gold in case of nuclear apocalypse or something, kindly note that you can't eat gold. The man who will be king will be the man with a warehouse full of canned tuna.
  • Posted by a hidden member.
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    Feb 27, 2020 4:25 PM GMT
    carew28 saidA long time ago, you used to be able to buy gold coins in a bank, but that ended years ago, and banks no longer sell gold coins. It seems risky to buy them through the mail. There are local gold merchants who sell gold and silver, but I'm guessing that they inflate their prices over the actual worth of gold, so that they can make a profit. Where's the best place to purchase gold nowadays, either as coins, or as bullion ?


    The U.S. Mint sells silver, gold, and platinum coins, but many of the coins it "offers" are "Not Available" because the Mint cannot keep up with demand.

    https://catalog.usmint.gov/coins/precious-metal-coins/gold/
  • Posted by a hidden member.
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    Feb 27, 2020 4:37 PM GMT
    FormerShark said
    suckitup said
    FormerShark saidGold and silver have been, over the past 40 years, the worst investment ever. As a former commodities broker, I wouldn't let my clients throw their money into the toilet like that. I leave it to brain-dead ignoramuses like MonkeyFecesBoy above to do it.

    Want some math?
    From 1980 to today, the inflation multiplier is 3.14.
    Gold peaked in 1980 at roughly $800/troy oz.
    The equivalent in 2020 is $2512.
    The current spot price is $1648.
    If you'd put your life savings in gold in 1980 they'd be worth 33% LESS than stuffing your cash into a mattress.

    Leave the precious metals to idiots.


    So is everyone who ever invested in Gold considered an idiot?
    Putting all your life savings or equity into one investment could catch up with you. It might not be a bad idea
    to diversify your assets. You must know that and I'm sure you're a multimillionaire by now, right?

    Look, I know this goes against a lot of things you've probably heard but there's a reason that no economy in the world is on the "gold standard" these days and unless you want hours and hours of lectures on macroeconomics, you can just accept that there are people out there who know more on this subject than you or MonkeyFecesEater. Gold is pretty and for the most part worthless. As for "preppers" who think they need gold in case of nuclear apocalypse or something, kindly note that you can't eat gold. The man who will be king will be the man with a warehouse full of canned tuna.


    Do you have an investment that paid you well? Can you share with us what made you independently wealthy? The way I see things either Gold or cryptocurrency will replace Cash Fiat? Looks like socialist Venezuela is trying?
  • wild_sky360

    Posts: 4082

    Feb 28, 2020 2:53 AM GMT
    It is the primary store of value on this planet.. to date. But in a SHTF environment, silver coins are more valuable in the pinch, because they are more spendable. Silver should be trading much higher against gold since it's in more demand by industry. Both are heavily shorted most days by central banks, to suppress price. Platinum has soared in comparison because it is slightly off that radar... for now.
    Meanwhile treasuries across the globe are stockpiling it, and demanding repatriation from the US, which practically ignores them.
  • Apparition

    Posts: 4643

    Feb 28, 2020 7:24 AM GMT
    [quote]

    Do you have an investment that paid you well?
    [/quote]

    I correctly predicted the fall of the dot com boom.

    The thing was...it didnt matter when it happened, I was going to win.
    Way back, there was this huge bubble called the dot com boom, everything high tech no matter how stupid was causing a huge bubble, with companies that were two kids and a dream were selling a billion dollars IPO daily it seemed.

    Anyway...it was a bubble, everyone called it a bubble, everyone knew it was a bubble..."this is tulips" was the headline in most newspapers daily.

    In canada there was an opportunity. It was a monopoly. It was beautiful.

    There was a completely unknown company called MOORE CORP. They were huge, they were in the toilet. They were the FUTURE. They were oldschool, they were PAPER in a digital future. They were worth a fortune.

    Moore Corp was worth about 2 billion dollars (remember this was canada, that put them in like the top 50 companies 40 years ago) and nobody had ever heard of them. They also had a 5% dividend.

    I took all the money I had at the time (fresh out of school), and plunked it down. 1000 shares. 5% was golden.

    And then I waited. It took 18 months. I collected my 7.5% while waiting and then cashed in.

    The dot com boom was over.

    Moore corp jumped from 3$ to 22$ almost overnight.

    Moore Corp made UNEMPLOYMENT FORMS.

    Moore Corp paid my student debt. LOL