romans holiday Posted September 10, 2008 Report Share Posted September 10, 2008 In a global depression where do you park money such that these conditions are met? Many think that in a global depression cash would be good. Due to fears of [global] recession, many investors seem to be going into cash now. The problem is that last time round, in the 30's, cash was backed by gold... by real solid stuff with a sound history of value. This time round, no such luck. It is best to go straight to the source and hold a portion of your worth in gold and silver. If there is a depression all paper assets, including the dollar, would deflate. Edit to add: Dollar deflation would have an inflationary effect in prices. Link to comment Share on other sites More sharing options...
bitbigt Posted September 10, 2008 Report Share Posted September 10, 2008 I love all this recent fear and angst... blood on streets and all that! Topped up yesterday with silver, and have funds to double up - which I'll do if it ever gets down as far as USD10 or so And today I put my first toe in oil ETF and oil majors, again leaving funds to double up these bets 2 or 3 times upon each USD 10 fall in PoO (should that actually happen) I feel sure that 5 years or so from now this investment strategy will be very profitable, and so am really quite comfortable about whatever happens these next few weeks/months: falls will allow me to do the double ups, rises will make me money Believe in what your brains and your bones tell you guys and gals, and don't believe the spin Link to comment Share on other sites More sharing options...
drbubb Posted September 10, 2008 Report Share Posted September 10, 2008 Todays market wrapup by Gary Dorsch on FSN is interesting. Seems to suggest its the Saudis and the Kuwaitis pumping petrodollars and oil into the US to bring down oil prices, in order to influence the US election and get their preferred (hawkish) republican candidate into the whitehouse. If that's the case, we can expect gold/oil/commodities to remain under pressure until the election, then watch for the possible HUGE reversal, as this gets unwound.. It would certainly explain the La-La-goldilocks-topsy-turvy market in the US right now, that seems to have thrown all TA out the window. I mean the OVERSOLD readings on the HUI right now FFS!.. and no bounce to speak of!! Wasn't nothing supposed to go up or down in a straight line? It makes good sense. They went way over quota to force the oil price lower, when Bush visited the Saudi king and asked for help. They may now accept a temporary freeze in quotas until after the election to see if they can get the job done- and McCain elected Link to comment Share on other sites More sharing options...
malvern hills Posted September 10, 2008 Report Share Posted September 10, 2008 Many think that in a global depression cash would be good. Due to fears of [global] recession, many investors seem to be going into cash now. The problem is that last time round, in the 30's, cash was backed by gold... by real solid stuff with a sound history of value. This time round, no such luck. It is best to go straight to the source and hold a portion of your worth in gold and silver. If there is a global depression all paper assets, including the dollar, would deflate. Edit to add: Dollar deflation would have an inflationary effect in prices. I think you are right to say that putting 10% of net into physical gold would be a good way to go-If nothing else you can give it to the kids-however talk of 'going all in' just doesn't sound right with respect to investment decisions.I am going to average in over the next 6 months-lets see what happens after the election. Link to comment Share on other sites More sharing options...
ziknik Posted September 10, 2008 Report Share Posted September 10, 2008 Cue OPEC. Right on cue http://news.bbc.co.uk/1/hi/business/7607508.stm Oil rises on Opec production curb Oil prices have risen to more than $103 a barrel, reversing earlier losses, after OPEC agreed to return to its late 2007 production levels. Link to comment Share on other sites More sharing options...
wren Posted September 10, 2008 Report Share Posted September 10, 2008 I think the US Govt will nationalize the car industry.... to balance out their portfolio. Or maybe place it under conservatorship. They seem to have an aversion to the word "nationalize". Link to comment Share on other sites More sharing options...
sossij Posted September 10, 2008 Report Share Posted September 10, 2008 I love all this recent fear and angst... blood on streets and all that! Topped up yesterday with silver, and have funds to double up - which I'll do if it ever gets down as far as USD10 or so And today I put my first toe in oil ETF and oil majors, again leaving funds to double up these bets 2 or 3 times upon each USD 10 fall in PoO (should that actually happen) I feel sure that 5 years or so from now this investment strategy will be very profitable, and so am really quite comfortable about whatever happens these next few weeks/months: falls will allow me to do the double ups, rises will make me money Believe in what your brains and your bones tell you guys and gals, and don't believe the spin Hell yeah! Word up everyone - gold and silver going cheap! Grab it while you can. Link to comment Share on other sites More sharing options...
Mr Pipples Posted September 10, 2008 Report Share Posted September 10, 2008 Hell yeah! Word up everyone - gold and silver going cheap! Grab it while you can. I've heard that before. This is cronic. Is it all of them who are stupid - or us? Link to comment Share on other sites More sharing options...
Justin Thyme Posted September 10, 2008 Report Share Posted September 10, 2008 er . . . ok this is starting to get a bit scary. Silver's into the 10s, crude's approaching the ton and the dollar's on steroids. I know, I know - the fundies remain the same but how low can gold go ? Link to comment Share on other sites More sharing options...
ologhai Posted September 10, 2008 Report Share Posted September 10, 2008 er . . . ok this is starting to get a bit scary. Silver's into the 10s, crude's approaching the ton and the dollar's on steroids. I know, I know - the fundies remain the same but how low can gold go ? Losing your nerve? Link to comment Share on other sites More sharing options...
azazel Posted September 10, 2008 Report Share Posted September 10, 2008 gold and silver really taking a hit. Strange how the price of silver coins have gone up though. Phils at £10.80 even though the spot is now below $11. Weird. http://coininvestdirect.com/main.php?a=11&id=238 Link to comment Share on other sites More sharing options...
headmelter Posted September 10, 2008 Report Share Posted September 10, 2008 I have to say I bought to hold with a long term view but the last few weeks have been devastating, but hey fcuk it them gold and silver coins are still nice to touch and look at. Every cloud has a 'silver' lining and you have to keep your glass half full. Link to comment Share on other sites More sharing options...
Doh Posted September 10, 2008 Report Share Posted September 10, 2008 I have to say I bought to hold with a long term view but the last few weeks have been devastating, but hey fcuk it them gold and silver coins are still nice to touch and look at. Every cloud has a 'silver' lining and you have to keep your glass half full. Just signed up after having been on the other place for a few years. Haven't had a chance to read all the gold threads here yet, but one thing that should be noted, as a percentage drop, what has happened in the past couple of months is less than the drop that happened in mid-2006. People seem to forget that. Last gold I bought was at circa US$850 towards the end of last year...which was then about £404. In terms of GBP and AUD (the 2 currencies that affect me), it has still been a good investment. Having said that, what has been going on the past few days (not just gold and silver) since the FM bailouts is puzzling...and I think further falls are possible in the near term. One question that I would like to know the answer to: has anyone tried to buy allocated silver at the Perth Mint in recent times...and if so what happened? Link to comment Share on other sites More sharing options...
azazel Posted September 10, 2008 Report Share Posted September 10, 2008 I have to say I bought to hold with a long term view but the last few weeks have been devastating, but hey fcuk it them gold and silver coins are still nice to touch and look at. Every cloud has a 'silver' lining and you have to keep your glass half full. Yes they have been devastating but the physical prices aren't down as much as the spot prices. If I had kept the money in the bank and then bought now I wouldnt have made much difference. I notice eagles are cheaper but phils have gone up. Link to comment Share on other sites More sharing options...
hotairmail Posted September 10, 2008 Report Share Posted September 10, 2008 Just signed up after having been on the other place for a few years. Haven't had a chance to read all the gold threads here yet, but one thing that should be noted, as a percentage drop, what has happened in the past couple of months is less than the drop that happened in mid-2006. People seem to forget that. Last gold I bought was at circa US$850 towards the end of last year...which was then about £404. In terms of GBP and AUD (the 2 currencies that affect me), it has still been a good investment. Having said that, what has been going on the past few days (not just gold and silver) since the FM bailouts is puzzling...and I think further falls are possible in the near term. One question that I would like to know the answer to: has anyone tried to buy allocated silver at the Perth Mint in recent times...and if so what happened? Welcome Doh. Link to comment Share on other sites More sharing options...
allyjcambo Posted September 10, 2008 Report Share Posted September 10, 2008 I’m reminded of one of CWR podcasts last year with Paul van Eeden. In the first half of the show he said to Frizzers that we shouldn’t care what happens to the gold price in the short term because in the long run it’s going much much higher. In the second half of the show Frizzers mentioned this to Dr B who was a little sceptical of this argument and queried how much pain people could take. This is a very testing time for those of us who hold gold. Still, maybe it’s not so testing since there are plenty of other things falling at even sharper levels (e.g. Lehmans!). At the end of the day, who is selling gold at the moment and where are they putting the proceeds? And why? Link to comment Share on other sites More sharing options...
warpig Posted September 10, 2008 Report Share Posted September 10, 2008 Perhaps the spot price of gold is going negative like lease rates where they pay us to buy it. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted September 10, 2008 Report Share Posted September 10, 2008 Looks like we are going to have to take some pain until the dollar weakens - US election is 4 November Link to comment Share on other sites More sharing options...
hotairmail Posted September 10, 2008 Report Share Posted September 10, 2008 Looks like we are going to have to take some pain until the dollar weakens - US election is 4 November Good point. John Authers with an interesting graphic re fuel prices and Republican support. http://www.ft.com/cms/bfba2c48-5588-11dc-b...mp;fromSearch=n Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 10, 2008 Author Report Share Posted September 10, 2008 May the Force be with us: IMO, Sinclair is right here. Forget about TA. It's useless in such a rigged market. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 10, 2008 Author Report Share Posted September 10, 2008 Ask yourself: who is buying all this stuff? For every seller of gold and silver, there is a buyer. I don't think it's the little panicked guy who is buying right now. It's the big & clever guys. GOLDman Sucks cover their shorts frantically, China or someone possibly a huge physical buyer at this stage. Isn't that clever: make China believe the USD is strong again, at the same time giving them the chance to gobble up shed-loads of gold & silver without raising suspicion? Link to comment Share on other sites More sharing options...
sbn Posted September 10, 2008 Report Share Posted September 10, 2008 Jeez GF - thats getting mighty close to 750 - and its looking very like a double top has happenned Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 10, 2008 Author Report Share Posted September 10, 2008 Jeez GF - thats getting mighty close to 750 - and its looking very like a double top has happenned Painting a chart. Ben & Hank succeeding 100% in screwing the little scared investor over. I stay invested 100% in physical, and will buy more on dips when I have cash ready. No margin, of course. EDIT: When gold hit $1,000 I kicked my @$$ because I hadn't bought more below $700. Guess what? TIME MACHINE! Looks like the opportunity of the decade to me. And this with the great re-assurance that all the fundamentals are better in place than ever before. It's sort of a dream come true. Link to comment Share on other sites More sharing options...
Errol Posted September 10, 2008 Report Share Posted September 10, 2008 I honestly don't get why people are worried. Unless you are on margin or have been otherwise trading gold for quick profit, these moves are irrelevant. As I've always said, hold physical. In your own hands. Link to comment Share on other sites More sharing options...
sbn Posted September 10, 2008 Report Share Posted September 10, 2008 Not worried as such,... more.... confused. I mean it makes no sense - "they" must have bigger worriess than the POG now. Its Oil at the end of the day isnt it. Link to comment Share on other sites More sharing options...
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