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Money, Business & Finance Ground >> Lets talk about gold


10/3/11 10:24 PM
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jaywill
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 not surprising it got hammered down. sept 30 they were going to have to pay the piper on an assload of short contracts, what a convenient turn of events that the pms plummetted just at the same time. its just another buying oppurtunity though.
10/3/11 10:37 PM
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cagepedia
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Buddhadev - ^^^You probably would have been calling the end for gold when it got dinged from 1000 down to 700 or so in the runup to the financial crisis. People of your ilk were saying that it was at an insane, unsustainable bubble high when it was at 1000! But people who ignored them made out like bandits!

Want to make a bet about gold's price in USD one year from now? We can be as famous as Paul Ehrlich and Julian Simon. I'm 100% serious about this. It could be as simple as picking today's price and me paying you the amount that it's lost if it loses and you paying me the amount that it's gained if it gains.



go back read my posts... I've maintained I don't know why gold moves the way it does. I have also said I would not bet against it. How can I bet about gold's price in a year when I cant even tell you where it would be in a month?

incase you do not want to look at my posts, here they are

cagepedia - why gold goes up, no one knows... it is not much useful as an industrial metal or anything else for that matter.


cagepedia - gold makes no sense to me


cagepedia - gold is highly speculative, IMO it is never a solid buy. Had you bought it at anytime in the last 3-4 years you would have done awesome and I wish I had but the bottom line is gold is not a safe investment.


You called it a value proposition but never explained why. You never explained how you value it, what are the cash flows from it? what are it's earning? What does it do?
10/3/11 10:41 PM
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cagepedia
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And what do you mean by people of my ilk? do we know each other?
10/6/11 1:23 PM
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jaywill
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 1600 an aounze seems like a bargain when you quantify the total amount of gold in the world.
1/11/12 4:21 PM
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Dan W
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"why gold goes up, no one knows... it is not much useful as an industrial metal or anything else for that matter."

it's money. it trades on the majority of currency desks, not commodity. why's it go up and down? try looking at other currencies.
1/11/12 8:20 PM
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HELWIG
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 That gold quantity pic is NUTS.

That has to be tangible known gold and not accounting for whats still in the Earth, right?

RIGHT?

1/12/12 10:23 PM
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Dan W
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helwig: that's correct. i think they said 1 ton of gold actually comes out to being a cube 20 inches long, wide, and deep. that's a really dense metal there.
1/12/12 10:54 PM
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mikehh
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jaywill -  1600 an aounze seems like a bargain when you quantify the total amount of gold in the world.
For this very reason gold will never be a currency in today's society Phone Post
1/18/12 8:54 PM
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groundfighter2000
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i don't get the whole obsession with gold and people trying to hedge by buying gold.

Gold is purely speculative. There are safer ways to invest your money.
3/21/12 5:42 PM
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Siciliano
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"I really couldn't care less about gold and silver. I don't want gold and silver, it's just that it's in its cycle right now. It's a stupid lump of metal that produces no cash flow and dividend yields. So I'm not a big fan of gold and silver - it's just that right now, there's no other safer investment than precious metals."

- Mike Maloney, author of "Rich Dad's Investing in Gold and Silver."

I've been stacking up since 2010. Waiting for the collapse of the US dollar.
3/22/12 7:47 AM
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AG_bull
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Siciliano - "I really couldn't care less about gold and silver. I don't want gold and silver, it's just that it's in its cycle right now. It's a stupid lump of metal that produces no cash flow and dividend yields. So I'm not a big fan of gold and silver - it's just that right now, there's no other safer investment than precious metals."

- Mike Maloney, author of "Rich Dad's Investing in Gold and Silver."

I've been stacking up since 2010. Waiting for the collapse of the US dollar.


words of the day! dont forget silver!
1/8/13 4:52 PM
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the chief
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Wow this thread goes way back.
1/8/13 8:19 PM
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HELWIG
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yeah wow wish i bought some

1/8/13 8:25 PM
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the chief
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AG_bull - 
Siciliano - "I really couldn't care less about gold and silver. I don't want gold and silver, it's just that it's in its cycle right now. It's a stupid lump of metal that produces no cash flow and dividend yields. So I'm not a big fan of gold and silver - it's just that right now, there's no other safer investment than precious metals."

- Mike Maloney, author of "Rich Dad's Investing in Gold and Silver."

I've been stacking up since 2010. Waiting for the collapse of the US dollar.


words of the day! dont forget silver!

Silver price when this thread started = $7/oz

Silver price today = $30/oz
4/28/13 5:16 PM
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NCAA92
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the chief - 
AG_bull - 
Siciliano - "I really couldn't care less about gold and silver. I don't want gold and silver, it's just that it's in its cycle right now. It's a stupid lump of metal that produces no cash flow and dividend yields. So I'm not a big fan of gold and silver - it's just that right now, there's no other safer investment than precious metals."

- Mike Maloney, author of "Rich Dad's Investing in Gold and Silver."

I've been stacking up since 2010. Waiting for the collapse of the US dollar.


words of the day! dont forget silver!

Silver price when this thread started = $7/oz

Silver price today = $30/oz

down to $24. Just started buying generic rounds and ASE
4/29/13 10:19 PM
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kanotoa
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I've been buying slowly. Might make 1 more big buy if I can get it for 20 an oz Phone Post
4/30/13 4:07 PM
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Siciliano
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Bought another 100 oz of silver last week. I love these low prices. Will beh olding this for the long term anyway. Screw the volatility.
5/2/13 10:36 PM
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BJ Penn Forever
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There were 5 billion ounces of silver above ground in the 1950's.

There are around 1 billion ounces of silver above ground now.

industrial uses grow each year and most of it is used in such small amounts per item it is not profitable enough to recycle.

They pull around 16 ounces of silver out of the ground for every ounce of gold.

This has been the natural ratio of the metals in the earth over thousands of years.

Right now you can buy 60 ounces of silver or 1 ounce of gold. That ratio will not hold. It will get closer to the natural ratio of 16-1.

Silver has a monetary history and an industrial future.



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