No One Can Call Gold A Safe Haven Ever Again

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• The problem is that gold and silver has not been a true representation of wealth for nearly 50 years since Corporate Greed stole it all.

  Censor me all you want, it's true.

  • Whiskey! Remeber that guy I wanted you to meet and educate? Here is is! Go for it!

  • That, what you just said, was so fookin' stupid, that I will never downvote it, just so people can see what kind of a moron you truly are. Your mama must be real proud.

    • You won't downvote it because you know it's true, it's proven that the Federal Reserve (a greedy corporation) took us off the gold standard so they themselves could dictate prices for their own greed. What's so stupid about that?

      • Ah the pervert lost money on the gold he stole with his welfare money..too fucking bad bozo....I feel absolutely NO sympathy for morons like you, In fact my wish is that you loose it all and end up living in a cardboard box under a freeway and get your ass whopped by several alcoholics looking for your bottle of thunderbird....

• Brass- the ultimate precious metal for hard times....

  • Gold is easier to find.

• Most people do not realize that gold is NOT an investment. It is a commodity with a fixed intrinsic value. The dollar fluctuates all around it, but the value of gold remains the same. In ancient Rome, for a gold piece, you could buy: a sword, a suit of clothes and a pair of sandals. Today for a gold piece you can buy: a gun, a pair of shoes and a suit of clothes. Same value, 2000 years apart...If you hear someone refer to gold as an investment, run the other way.

  • I have someone you need to mmeet. He is a weasly kind of guy and is FOREVER telling us our economy is shot because we are no longer on the gold standard. He supposedly qualifies for food stamps, but goes online to buy gold, which he soehow thinks will protect him against the coming economic failure. I think he could really benefit from a conversation with you!

  • I can't get it through my brothers head that gold isn't an investment but he don't listen. What goldbugs do not understand is the price of gold does not go up, the value of our currency goes down. The same hold true for all precious metals so you silver believers are being mislead too. Just because you bought $500 worth of gold last year does not mean you have $1000 dollars worth today. It only means it will cost you a grand to buy the same amount because the dollar is worth that much less. When the economy turns around, and it will eventually, the dollar will become stronger, worth more, and the price for gold will drop like a rock. It's good to have some laying around as a hedge against inflation but nobody should bet their life savings on precious metals.

    • I was going to say essentially the same thing, but you said it much better than I could this morning. All that gold and silver that got sold off yesterday is still gold and silver this morning and the few who stepped into the market at the right time are taking a tidy profit this morning. If you want a safe haven... buy a cemetery plot.

  • A store or value, not an investment.

• This points to some basic rules of investing:

  1. diversify.

  2. invest because an objective analysis points to the potential of increased earnings (or increase in prices for commodities). This is NOT the same as increased popularity. Just because a ton of people are eating at some restaurant chain does not mean there will be higher earnings.

  Objective means NOT subjective. If you can't tell the difference, email me - we can meet somewhere and you can just give me your money. At least that would be better than flushing it down the toilet, which you might as well do if you can't tell thedifference. Just because you truly believe that something is RIGHT ("clean" energy, vegan fast food, etc.), does not mean there will be earnings. Your beliefs about the imminent world takeover by the Trilateral Commission should not be the basis for investing.

  3. as pertains to the gold issue - when someone is taking out advertising time to tell you about the ton of money that has been made on some commodity, and quoting some "expert" who says how much more money can be made (while that fast & soft talking guy is saying "pastperformancedoesnotguaranteefutureresults"), it means one thing: RUN THE OTHER WAY.

  It means that the smarter people are looking to squeeze out the last bit of profits by getting the market-ignorant people to rush in and drive th eprice just a bit higher. In the case of commodities, a basically zero-sum game, they are looking to create a market for the contracts or actual commodity (such as gold), that they need to get rid of, because they know the high price can not be sustained.

  Actually, in the long run, you would be more successful investing the opposite way (contrarian investing). When they tell you how high the price of pork bellies will go, buy the put options (options to sell, i.e. betting that the price will go DOWN, not up). There is still danger there. You could buy 6 month puts, and you can be right that the price will go down. But the price can drop like a rock 9 months later, and you still lost all your money, b/c you bet that the drop would be within 6 months.

  • All good advice, thanks Andre.

    I don't call commodities investments -- I call them currencies. Although I know that people are losing their shirts n gold now, happy to see the adjustment, as it means the $ is temporarily more stable.

    • And glad that I sold what I had 3 weeks ago!

  • diversify

    Buy long shelf life foods, water purification, water storage containers, propane, guns, ammo, first aid supplies, a vehicle that can haul all of that stuff.
    Then start watching "Doomsday Preppers" and decide what other options are right for you.

    they know the high price can not be sustained

    Like the stock market.
    I already told my wife to move her IRA funds to interest bearing accounts.

    • I'm diversifying into lead, powder, brass, and steel. Even if I can't sell it, I can enjoy it.

      • I wouldn't ever sell it, but giving it away is another thing altogether!

    • I was going to say something along those lines, like invest in land out in the country and learn how to grow food and raise clickens or something.
      Not a prepper, really, but I do some...I believe that like most families, this country is one disaster away from bankruptcy. I read where we are borrowing money every month just to pay the installments on our massive debt. Probably won't be long now...

      • The longer Obama continues unchecked, the better the chance of the economy collapsing. That's why I keep silver, it's easier to cut into pieces small enough to pay for supplies, vs gold, which is too expensive to make small enough for trade.
        I also keep copper and brass. They are lower value, but will be worth something in trade when it all goes to shit.

• The one thing I have learned about investing is that no matter how smart you are, eventually you lose everything and they throw your underwear in the dumpster and sell your jewelry on Ebay.

• That explains why I hold silver. My last buy was at $9/oz.
  I recently contracted to clean out a storage unit, and found a good deal of gold and silver jewelery. I sold off the gold as fast as I could and kept the silver. The rest of my silver consists of coins I got as change over the years. Nothing more invested than face value, so there is nothing to lose there.
  One thing I learned over the years, the bigger the investment, the more you have to lose. Small purchases when times are good means much lower chance of losing.