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The Germans aren't happy

Discussion in 'Sports and News' started by Stitch, Sep 6, 2011.

  1. Stitch

    Stitch Active Member

    German Chancellor Angela Merkel expresses the same views as many in Germany feel toward the bailouts of broke countries. I can't see the Euro holding out for much longer, unless it's just the currency for France, Germany, Belgium, Finland, The Netherlands and Luxembourg.

    http://www.nytimes.com/2011/09/07/world/europe/07iht-germany07.html?_r=1&ref=world
     
  2. poindexter

    poindexter Well-Known Member

    Jeez, the other countries sound like such crybabies.
     
  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    I have been posting this for about a year on various threads. The Germans and French were only going to have so much will to carry the currency. And now that Germany's economy is in the crapper, they don't even have the ability.

    And on top of everything, Switzerland pegged its franc today to the Euro, setting a minimum rate of 1.20. I didn't bother to revive my gold thread. But the price is hovering around $1900 and this is about the most bullish thing that can happen to gold. Gold is now an alternative currency. With every currency from the dollar to the Euro to the Swiss Franc now to even the Chinese Renminbi, because of their runaway inflation, looking like shit, hard assets are the place to be -- as I have said forever on here.

    http://business.financialpost.com/2011/09/06/swiss-franc-peg-may-unleash-gold-rally/
     
  4. EStreetJoe

    EStreetJoe Well-Known Member

    and I thought this was going to be about them getting blamed for bombing Pearl Harbor
     
  5. Armchair_QB

    Armchair_QB Well-Known Member

    When the Germans aren't happy Poland gets invaded.
     
  6. bumpy mcgee

    bumpy mcgee Well-Known Member

    I thought they finally got the Hasselhoff roast on TV
     
  7. Brooklyn Bridge

    Brooklyn Bridge Active Member

    Say one of us has a couple of bucks to spend. Would it be wiser to start a Roth IRA, or to get that money into gold? How does that work? I don't get to take home little gold bullions. What about when it is time to cash in?

    (We both have fully-funded IRAs and will be looking for other investment vehicles)
     
  8. TwoGloves

    TwoGloves Active Member

    It wasn't over then "and it ain't over now."
     
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    I am not a financial advisor. So don't buy ANYTHING because an anonymous guy on the Internet typed something. ...

    You are not going to buy gold bullion with $100. Just to trade a single commodities future, which allows you to control 100 troy ounces, the minimum margin requirement is around $7,500 and if you have no experience, you are going to have trouble finding a broker.

    But. ... the Roth IRA and some exposure to gold or precious metals (or really anything) are not mutually exclusive. There are exchange-traded funds (known as ETFs) that mirror the price of gold. Some are leveraged (as in try to give you twice the returns; but you risk twice the losses). The biggest one (and a lot of hedge funds and institutional buyers even just invest in it this way; it has A LOT in assets under management) trades under the ticker GLD. Google it. I am not sure where the price is for a share. So you can start your Roth IRA and then within it, using an ETF or ETN invest in gold -- and LOTS of other things. There is a whole wide-world of commodity-based ETFs and ETNs.

    Just whatever you do, when you buy any asset, have a comfort level because YOU understand it and have either fundamental or technical reasons why you believe you should own it. That is ESPECIALLY true if you are investing (as opposed to trading) and you plan to buy and hold for some time, because you think it will appreciate in value. Understand it and feel comfortable with it for your own reasons, not because someone told you to.
     
  10. deskslave

    deskslave Active Member

    Ohhh, the Germans are mad at me. I'm so scared! Ooh, the Germans!
     
  11. BYH

    BYH Active Member

    This is nothing a David Hasselhoff tour can't fix.

     
  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    One thing also about the GLD ETF I posted about above. ... THere are issues with these ETFs that remind me a lot about the issues that led to the mortgage-backed securities crisis we had in 2008. This is part of a way-too-long post of mine from 2008. Just be aware of this if you buy a gold ETF (or in the case of this story short the Euro through an ETF). ETFs have to own the actual asset, but they are very unregulated in terms of custodians and subcustodians. Which in short means that if you own a gold ETF, you don't actually own a claim to any gold:

     
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