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Not be a dick here, but the only channel I see pushing buying gold and silver is Fox news (commercials).
God speed on your purchases and ETFs, I hope what you're buying it for doesn't come to fruition.
If it does, bullets and food would probably be the better trading vehicle. IMO.
Do you think the dollar is going to be stronger in 5 years than it is now?Originally Posted by rkelly110
Sharp sell off today.
If we are trading bullets and cans of spam then fugge it. A far more likely scenario involves the value of the dollar getting whacked much how it happened in a dozen other countries that allowed huge run ups in debt. When you print money the value declines. There is a whole lot of dollar printing somewhere in our future.
IDK Bitcoin is a fiat currency just like the dollar and any other currency. Bartering is probably the best currency.
I think our dollar is kept artificially low so more countries will buy our bonds. If we drop our deficit, the dollar will rise
and the less countries will buy our bonds.
I took some of my wife's jewelry to a gold buyer. The 1st thing he did was take a magnet to everything. Anything that stuck he gave back. Be careful, I hope all your gold is solid and not magnetic.
The only silver I buy are the one ounce walking liberties to give as gifts for new born family members.
If gold took a huge run and you wanted to trade your gold coins for cash, where would you go? Just out of curiosity.
If we drop our deficit.....LOL. Ya, well if I win the lottery.....
Who the hell said anything about Bitcoin?
Coin shop or pawn shop.
I look at gold and silver as real money. It's been money since the beginning of time. I'd much rather hold silver than a savings account. It's always going to have value, and you can get it at 21, down from 49 in the fall of 2011. To each his own.
Do you seriously think Bitcoin is gold? The dollar is weak because we're a third world country with a huge credit line. The world can see we're a house of cards, spending and printing with no regard for right and wrong. The dollar is done, there is no coming back from this other than inflating our way out of it.
That's a good question. There are tax implications or not depending on certain factors. You can sell 1,000 gold coins with a click of the mouse into APMEX.com and they wouldn't blink. But if you had a huge gain and wanted to sell them all quiet like then you would need to work a little plan. Coin dealers buy and sell these all day long so you could sell 5-10 every other day. You may want to hit NYC where you could sell as much as you have in a day... on the quiet.
Did anyone here about this couple that was walking their dog in their backyard and found a million dollar worth of coins buried near a tree?
http://www.foxnews.com/us/2014/02/27...f-report-says/
I would not sell gold underground at gold houses
Have to find legal legit dealers and fill out the paperwork
Easy to get Robbed with underground gold shops
Yes he could get away with tax issues but these guys are shady and tough
I have always been a proponent of trading the Gold spot on a legit financial broker
No, I wasn't comparing Bitcoin to gold, I was comparing it to the dollar and other non gold backed currencies. Fiat.
We are not a 3rd world country. If we were, you wouldn't see countries buying our bonds. Yes, the world wants to
dethrone the US's world domination currency, which is probably why Bitcoin is doing so well.
I don't have a graph or if there is even one, but I'll bet the dollars worth is correlated to what we pay in interest.
Interest rate goes up, so does the dollar.
Bitcoin is not like fiat at all, the reason it was invented was to give an option other than fiat. There is no central authority, the total supply is hard capped at 21 million by the software.
You can sell gold on craigslist. Just meet only at a bank or somewhere very public and you won't get jacked. Just be wary of counterfeit.
As the fed continues to taper, imterest rates continue to go up, the dollar.continues to strengthen against other currencies and commodities, especially GOLD. Weakness will be present for the foreseen future. Stick to sports, squares. LoL
That's already baked into the price. The dollar may strengthen short term against very weak currencies but that good ole $18 trillion dollar debt keeps a growing. As it grows the dollar will become unstable. Fed buying and selling has a net effect of zero long term. They auction new debt to buy mortgage backed securities in the open market. That's like you borrowing money from your Dad to pay off a debt to your Dad. Net effect; zero.
I would agree that gold is fairly priced at $1300 and much better chance to see it lower than higher until some more fundamentals improve. Longer term it has no where to go but up.
After the sequester, the debt level projections have flattened out. Largest deficit reduction in 40 yrs. Stop listening to the gold bugs. $1300 may be a fair long-term price, but I do believe it will go lower brfore it goes higher. Remember....gold was $1000 in 1980 and $250 in 1999...$1700 in 2012 and...... ???
LOL. You can't be serious with that. The debt is going to be 20+ trillion soon and rising. How would we possibly begin to pay even a trillion of it back? Whether it's slow or swift, inflation is coming, and it will be major. The problem with any investment in USD is that it's in USD.
I heard on ancient aliens that aliens are harvesting are planet for gold? fact?
I heard they emptied Fort Knox in the 70s
um no..I am not joking. The budget deficit went from 6.8% of GDP in fiscal 2012, to 3.9% of GDP in fiscal 2013. Look it up. And I guess a 25% return in the s&p last year with 2% inflation was a bad thing??
If inflation was coming like you say, gold would not be down like it is.
Last edited by grease lightnin; 02-28-14 at 05:17 PM.
How is the money going to be paid back other than with inflated dollars? I mean, even if you balance the budget it isn't possible to make a dent in the debt.um no..I am not joking. The budget deficit went from 6.8% of GDP in fiscal 2012, to 3.9% of GDP in fiscal 2013. Look it up. And I guess a 25% return in the s&p last year with 2% inflation was a bad thing??
If inflation was coming like you say, gold would not be down like it is.
You can keep your paper money. I'll keep buying real money.
Incorrect.
I wish you were right, but the ship has sailed, my friend.
The facts are on my side. Your comments are arbitrary.
What year is the budget going to be balanced, Fact Man?
The budget doesn't actually have to be balanced to lower the debt. With the sequster, at current tax rates, and gdp growth rate, the debt level will not go up. With a balanced budget, it would go down. I do not know of a balanced budget on the horizon, but if Washington can agree on a combination of revenue increases and spending cuts, then we could get there. And I believe eventually we will. So many people nowadays just willing to trash their country anf be pessimistic about the future when it is fixable. Sad. Now you answer this: if you are right and I am wrong, then why has gold gone from $1700 to $1200 (near where it was pre-crisis) and not from $1700 to $2000 and up like all that were on the same soapbox as you were saying it was? And don't tell me that it still will, it-s fine if you believe that, but tell me why it has gone down to where it is?
You don't have to balance the budget to reduce the debt? WTF
No need to advertise on MSNBC a product that cost $1300 an ounce cash. That some serious food stamps.
Meanwhileeee.... pop goes the weasel! Gold adds $23 thanks to Putin.
The math is actually quite simple; US owes $18 trillion in debt. US takes in $3 trillion in taxes and spends $3.4 trillion in total spending each year. So another .4 trillion dollars will be added to the debt this year.
We are getting past the point where some cuts and new taxes will save the day. We need those just to stop adding to the debt much less ever reduce it. We are headed toward a slow motion train wreck,
Gold went down from $1900 because the global banking crisis eased, not because of anything deficit/debt related. Gold was $25 an ounce in 1960 so it has continued up whenever the dollar is pushed down.
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Congrats! You are the biggest Obama Sheep on planet earth. And this economy will continue to die and you forgot to add in the extra 2 trillion in commie mandated obamacare costs. Your messiah will leave your kids 25 Trillion in obama debt. And you voted for the guy twice so basically you are an accomplice to a domestic terrorist. Obamacare is domestic terrorism with death panels and health care rationing.
You should just convert to Islam so you can get the Cadillac Obamacare Plan for free. Obamacare is just Medicaid on steroids. It is a ponzi scheme designed to steal wealth from the makers and redistribute it to the Obama zombie takers.
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Last edited by grease lightnin; 03-03-14 at 08:27 AM.
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Last edited by grease lightnin; 03-03-14 at 08:25 AM.
http://businesstoday.intoday.in/stor.../1/203913.html
gold today Russia gonna shake things up
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