Speaking of investments. Any of you doing this?

[Yawn]

Moving all available investments out of stocks and into gold.

I've got family that has the gold buried in an underground safe and swears that's the way to go - meaning gold. He makes a good argument, but he also thought hell would break loose in the 70s.

 

[Fenian_Bastard]

That would be Uncle Ron, the doctor from Texas, right?

 

[Ace]

That might have been a good move two months ago. Now it's panic.

 

[Yawn]

That would be Uncle Ron, the doctor from Texas, right?

No, how about Uncle Zonell, the oil guy from Louisiana?

Seriously....I'm listening.

 

[Yawn]

That might have been a good move two months ago. Now it's panic.

So sit tight and wait until Labor Day, eh?

 

[Fenian_Bastard]

 

[Pastor]

Gold isn't a very good investment. It is a metal which only increases in value when demand increases.

I wouldn't stake my money on it.

 

[Yawn]

That's Chuck.

 

[Yawn]

Gold isn't a very good investment. It is a metal which only increases in value when demand increases.

I wouldn't stake my money on it.

Yeah, well don't you think when the market really tanks that gold demand will be in hypermode? In other words, much, much more valuable than it is today?

 

[Pastor]

Gold isn't a very good investment. It is a metal which only increases in value when demand increases.

I wouldn't stake my money on it.

Yeah, well don't you think when the market really tanks that gold demand will be in hypermode? In other words, much, much more valuable than it is today?

Why? Currency isn't linked to it. So it isn't like you can buy it now and then sell it later for more dollars.

Gold is no different than oil. Oil, however, may be more valuable.

 

[Yawn]

Wait. Gold sells on a day for X an ounce. Tomorrow it sells for Y an ounce. If Y is greater than X....which demand would cause that to happen, what doesn't make sense there?

 

[writing irish]

Toews and Kane rookie cards.

 

[Pastor]

Wait. Gold sells on a day for X an ounce. Tomorrow it sells for Y an ounce. If Y is greater than X....which demand would cause that to happen, what doesn't make sense there?

That would be the normal ebb and flow of the market. I'm referring to a drop in dollar value would not make gold automatically more valuable. In fact the reverse might happen.

Gold is merely a commodity. It trades the same as oil.

 

[writing irish]

Mexican Coca-Cola in the eight-and-half-ounce, green bottles.

 

[JackyJackBN]

Because of the growing economies in China and India, I think gold is a decent investment. Very cautious investors might put 10-20% of their portfolios in gold.

The current runoff in the stock market is largely due to the U.S. mortgage and credit problems; scarceness of commodities such as oil, cement and steel; and fear.

If you're a contrarian, this might not be a bad time to start to re-invest. Pick your spots carefully, boys and girls.

 

[trifectarich]

If you want to buy a selection of gold-mining stocks, I wouldn't dissuade you. If you want to buy the commodity, I don't believe that's been as good when you speak of long-term investments.

 

[Inky_Wretch]

Well, you better get that gold in your own hands. Not some certificate that says you own it, I'm talking about the actual gold coins or gold bars. 'Cause when things go to hell, those certificates won't do you any good at all.

[/worstcasescenario]

 

[JackyJackBN]

Lesson learned as a result of this thread: there are no good Google images of chickens running around with their heads cut off.

 

[Batman]

I'm not Warren Buffet or anything, but gold would scare me just a little. It's at an all-time high right now — something like $800-plus an ounce, which is almost triple what it was a couple years ago. Assuming the world doesn't go all Mad Max, and things settle down eventually, it stands to reason gold would drop some too. Even if it dips to $600 an ounce, you're still taking a bath on it.
To me, gold seems like a panic commodity: the people who get it, get it because it's safer than currency.
Now, if you're getting it to trade for valuable canned goods or a bicycle in five years, by all means go for it. If you're getting it to sell in five years, be wary.

 

[kleeda]

I'm not Warren Buffet or anything, but gold would scare me just a little. It's at an all-time high right now — something like $800-plus an ounce, which is almost triple what it was a couple years ago. Assuming the world doesn't go all Mad Max, and things settle down eventually, it stands to reason gold would drop some too. Even if it dips to $600 an ounce, you're still taking a bath on it.
To me, gold seems like a panic commodity: the people who get it, get it because it's safer than currency.
Now, if you're getting it to trade for valuable canned goods or a bicycle in five years, by all means go for it. If you're getting it to sell in five years, be wary.

Maybe a useless point, but if things go all "Mad Max," gold will have zero value. Gold is only valuable within the contexts of civilizations, not complete anarchy. Guns and ammo? Those will be priceless.