Gold

[devito]

I bought $20k worth of sovereigns recently and they barely made a dent in my pocket (certainly made one in my wallet though )

To need a crane for lifting Gold you would have to buy countless millions of dollars worth.

[stevo1]

I think skol justs loves to hate the precious metals and is in denial of thousands of years human value placed on them maybe he does know better than the collective human values over millenium.
But i would suggest that precious metals are held as a hedge and insurance by many as part of a balanced portfolio.
There is no doubt that prices will fluctuate equally the price of cash fluctuates with its ability to buy less "stuff" for more cash.
Skol methinks you protesteth too much.

[Skol]

Who started the thread?

What's the problem with having a joke at the goldbugs' expense, especially in view of some of the hilarious arguments in favour of gold or silver?

Ask some of the posters how many kgs of of silver they've got.

I used to get the same criticism on the peak oil thread until the inevitable happened.

I put up contrarian arguments but don't get too many logical answers except:

It's a historical store of value, (Ask the punters in 1980 about that one)
It'll keep going up.
Hyperinflation's on the way.
All 'fiat moneys' are going to crash.
The printers are going none stop.

I read the FT,WSJ and Economist regularly and don't see any reference to any of the above, guess they've got it all wrong.

One thing I know for absolutely sure. Many goldbugs are amateurs and novices who don't have a memory of 1980 and a significant proportion won't have been born. They're running with the herd, oblivious to what lies ahead.

[stevo1]

Nothing wrong with a good joke skol.
Did the FT WSJ or the Economist predict the GFC or warn in advance ?
Plenty of references to GFC after the fact though ,why it happened,whose fault it was.strangly enough until it happened these were the same journo's flogging on about the longest period of prosperity continuing .
Maybe the fact they not mentioning It's a historical store of value,
It'll keep going up.
Hyperinflation's on the way.
All 'fiat moneys' are going to crash.
The printers are going none stop.
shows its nowhere near a bubble

Gold will go up and down,as will oil,house prices in USA ,and the length of womens skirts (god bless them)
It may appeal to your logic that gold is a demand ,fear driven commodity ,bloody hard to "make" more of it .It may well be or turn into a bubble which i would suggest would put it into the same catagory as housing or the stockmarket.
Dont buy it at the top of the cycle (where is that again?) nothing wrong with contrarian view either but the trend appears to be up.
Go on skol I know you wanta buy some.

[JBmurc]

Gold up USD up OIL down ======increasing profits for aussie gold miners

[devito]

Who started the thread?

What's the problem with having a joke at the goldbugs' expense, especially in view of some of the hilarious arguments in favour of gold or silver?

Ask some of the posters how many kgs of of silver they've got.

I used to get the same criticism on the peak oil thread until the inevitable happened.

I put up contrarian arguments but don't get too many logical answers except:

It's a historical store of value, (Ask the punters in 1980 about that one)
It'll keep going up.
Hyperinflation's on the way.
All 'fiat moneys' are going to crash.
The printers are going none stop.

I read the FT,WSJ and Economist regularly and don't see any reference to any of the above, guess they've got it all wrong.

One thing I know for absolutely sure. Many goldbugs are amateurs and novices who don't have a memory of 1980 and a significant proportion won't have been born. They're running with the herd, oblivious to what lies ahead.

FT,WSJ and Economist report the news after the fact. I hope you don't look to them for your advise.

Gold and silver are worth having in your portfolio as insurance. I pay thousands a year for insurance for my boat, house and car so usually pick up a few sovs as another type of insurance.

[Skol]

Nothing wrong with a good joke skol.
Did the FT WSJ or the Economist predict the GFC or warn in advance ?

No, not in as many words but all the warning signs were there.

The Economist warned of a serious property bubble way before the crash, so they did get it right.

Obscene house prices, acronyms like 'CDO', insane, colossal amounts of debt, hedge fund 'heroes' spending millions, dumb TV programmes about property speculation, loads of ponzi schemes, cold calling, and scams like Blue Chip.

I transferred 50% of my super into cash and sold property in 2007 when I started to read about CDO's and sub-prime mortgages in the FT.

You don't have to be a genius, just watch the herd.

[JBmurc]

one of the biggest herds worldwide is the Dollar bulls esp. the USD

[ENP]

Skol and JB.

Do you think inflation or deflation is on the way for 2010/11 onwards?

[JBmurc]

Skol and JB.

Do you think inflation or deflation is on the way for 2010/11 onwards?

Inflation just checkout out the UKdebtclock or USdebtclock etc worldwide debt is increasing the only way the governments can stop their countries going bankrupt is to print trillions of cheap money in turn devaluing all moneys in people savings ....we are heading for an even bigger credit crises 2011-12

GOLD-$1240oz --$$$$$1417oz AUD wake up investors government worldwide are spending money that haven't got .....