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romans holiday

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Posts posted by romans holiday

  3. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    100oz was in the US in 1980. UK was 82oz, or so. :) Double-whammy: Sterling down AND houses down. No problem.

     

    EDIT: Here is more on the topic:

    http://goldismoney.info/forums/showthread.php?t=195370

     

    Thanks GF for that link. Was a good read with some interesting strategies on how to value gold in the long run. Yet I wonder if further practical considerations need to be considered within the larger theory. What I mean here is that say hypothetically oil "blew off" in a couple of months time and a lot of money went to gold and say gold went to $2000 or $3000, would you sell a percentage of your gold at that time? And if so what kind of percentage? I am not so much thinking here of playing the market, that is, selling the bullhorn and buying the fishing line [which by the way I am sure will work for many in the interim] but exiting the market altogether when the bull is in its last stages. After all, all good things must come to an end.

     

    I guess I am thinking here of reverse dollar cost averaging. As a safe way to get into the early stages of a bull market is to dollar cost average - buy in at regular intervals, the dips etc- so also, the safe way to exit a bull market is to sell at regular intervals at certain spikes. Tactics, besides a long term strategy, are also important.

     

    Just a few thoughts,

    God I am glad I am not in financials.

  7. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    in may 1972 (pog 52$) consolidated gold field wrote in there yearly report that there is the possibilty that pog can go to 60$and if C banks hold on neutral and there would be average inflation of 4% THEN the pog could reach 85$ by(bye)(buy)in 1980 ----------well they got that wrong !!---i dont know where the price for paper gonna end but if you listen to JIM ROGERS he talking 50k all i know is that its dirt cheap STILL

     

    Totally agree with you. Every opportunity I get to buy a coin or bar, I will be buying faster than I can check the price of it.

     

    Am not sure how much longer this cat will be able to stay in the game, hoping it just goes sideways for the summer.... year. :rolleyes:

  9. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I thought this quote was interesting:

     

     

     

    Inflation is happening all over the world, India's is 11% (Link).

    What would you do if you had rupees, keep them in the bank or buy assests like erm gold?

    Inflation creating gold demand?

     

    Yep... it is starting. As inflation psychology increasingly weighs on the minds of savers/ investors they will turn to the monetary metals.

     

    It is like a see saw. Now people have confidence in paper money, so they are all on the paper side. As they lose this confidence they will go to the metals side. It will take a while for enough people to move to see an effect, but at a critical moment it will swing very quickly.

     

    The scene is set for gold to take off. All that is required is for inflation psychology to play itself out.

  10. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    well germany 1923 1oz gold 24000 loafs of bread !!

     

    Yep, not doubting the efficacy of gold. I am starting to think that the hyper-inflationary scenario might actually play itself out.

     

    If that does happen, thinking in dollar terms is irrelevant. Also, I imagine that money [gold or commodities] will become very scarce. Anyone with access to money could be very well of. Forget about that dirty paper stuff.

  12. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Gold May Rise to $5,000 on Inflation, Schroder Says (Update1)

     

    Bloomberg Link

     

    Sounds good now, but not impressed. What would $5000 actually be worth in few years time? Perhaps a $1000 in present terms? If inflation psychology takes hold, money will become less valued as gold becomes more valued.

     

    If we adjust for inflation, the $5000 figure in a few years time should be... say.... $20,000? Now maybe that sounds good.

     

    It is hard for us to kick the habit of thinking in present dollar terms. Any thoughts?

  18. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Peter Schiff made an interesting point in one of his recent radiocasts - last weeks maybe. He questioned the wage-price spiral mechanism itself. His point being that inflation is the expansion of the money supply, prices go up as a result - wages are simply the price of labour. That we see wages and goods prices rise at the same time is no coincidence nor evidence of a wage-price spiral, just evidence of an increasing money supply.

    I'd be curious to know what people think of that idea, and whether there is real evidence out there for the wage/price feedback mechanism - given that we know that inflation itself is simply an increase in the money supply.

    The union thing Goldfinger touched on - I agree completely. People comment on the weakness of the unions now but we have had a couple of cushy decades. I wouldn't underestimate the UK population - when they see the need to get off their backsides they will (eventually).

    matt

     

     

    I am thinking the wildcard of globalization is going to play a central role in how this inflationary period pans out. I fear that rather than seeing the bogeyman of a real wage/price spiral this time round, we may only see nominal wage rises with real price increases and a real decline in the standard of living. :(Imported inflation.

  24. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I wish that were true, but I'm only a Pom :(:) :)

    But loving this great country and its people.

     

    The cheapest way to buy silver is with GoldMoney. Much cheaper

    The NZ mint charges about 16% above spot.

     

    As Sylvester says, the 1oz gold coins are the best deal. The price is better than bars, and they buy back at spot :) :)

    Talk to Michael O'Kane. He's very helpful and informative.

     

    I know for a fact that he even talks people out of buying if he thinks it's a bad time.

     

     

    Ha Ha... thats cool.. the more the merrier.....

     

    Thanks for the information. Even though I want physical maybe it is unpractical for silver, and something like Goldmoney would be best. Not so for Gold itself, have to have my precious with me at all times. :lol: I am really looking forward to buying some coins. In Korea, I have only been able to buy bullion bars.

  25. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Steve recommended NZ Mint to me (especially the Gold 1 oz Kiwi coins) and I was very happy with thier service. Might want to think about insurance and storage in advance as there are few vaults here and insurance seems to be only something you can get as an add-on to your contents insurance. A little pricy but you might just want to dig a hole in the garden instead!

     

    Cheers

    Sylvester

     

    Thanks Sylvester,

     

    Being a transient [working in Korea], I was thinking of just using a safe-deposit box. Less than ideal I know. I am more worried about being left out of the silver market which I think will do well. Also, like the look of those silver ferns. ;)

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