Gold hits record high on debt fears and chance of more Fed stimulus

You said "buy low and sell high" and "gold ain't low". What did you mean by that? How did you know that "gold ain't low" when it is about $200 higher now than when you said it?

 

I don't recall saying exactly that, but I meant buy low and sell high and gold isn't low. That isn't a prediction nor does it mean that it won't go higher.

Real estate in 2005, the Nasdaq in 1998, and gold in 1979 weren't low either. They all went up after that. For a while.

 

Well, you said it.

And what was your point?

Then what did you mean?

 

You should buy low and sell high.

It means you should buy low and sell high.

 

Buying gold now is a bit silly. It's already gone through it's rise. Buy low sell high. There might still be some profit to make. But not much. If you didn't get on board 6 years ago you're too late.

 

When gold finally crashes will you stop posting thread after thread about it?

 

Well, hopefully I will not own it then...so I probably will stop then.

But as long as I do...I probably will continue to.

The question is...why are you posting about it in thread after thread when I assume you own little if any?

 

Yeah, since you have secret knowledge of all things aureate, tell us when gold will collapse. If you can't, then maybe you're just a naive gold bug.

 

I am curious as I am a newbie on this gold stuff. Why do you think gold is going to fall soon?

 

When interest rates start to significantly rise - that is when gold/silver will probably start to fall.

That is also what happened in 1980...btw.

If you understood gold/silver...then you would know that as it is common knowledge in the gold/silver market.


And once again...I AM NO EXPERT.

Nor have I ever claimed to be.

 

The last time I bought gold was in early April of this year for about ($1470/oz.).
Today it is (even after it's worst day in years) $1750.

So I have made (just on this purchase) $280/oz. or 19%...in 4 1/2 months.

19% in less then 5 months is 'not much' to you?

Interesting.

What do you consider 'much' then?


BTW - in that time, the DOW is down about 9%. Real estate is dead and savings pay zip.

Just where else should I have had my money?

 

Housing is dead not real estate.

I would rather have half a million in land (zoned agriculture) than gold, silver, or stocks.

But thats just me.

 

True, agricultural real estate is definitely not dead.

My mistake.

 

but thats not going to happen for a long long time still

 

actually I think they are both good!

 

And I probably should not say 'dead' - as that suggests that it will never come back...which is obviously not the case...I assume.

"Flat on it's back' is probably a better description.

 

I like land because they ain't makin anymore of it, you can make money with it (livestock, farming ,or leasing) and I am not tempted to check the value every morning. They also can't sell me short.


You do have to pay taxes on it however.

 

however, there are times when real estate doesn't do very well, like during a depression for example!

 

My dad told me that during the depression (the first one) "at least the farmers had enough to eat"

Cattle prices are rising as is corn, soybeans and wheat.

And with the disaster in Texas cattle will continue to rise.

Now...I buy no eggs, no vegetables, no Thanksgiving turkey...and I am raising two pigs with one already sold (Nov 9).

Come spring I will raise broiler chickens.

The majority of the feed for my pigs is free. Two local produce stands give me all the produce they can't sell. It keeps them from paying to haul it away, keeps down bugs, and I get free feed. There is also a local "bent n dent" that has freebies...I only have to haul it off.


Anything the pigs won't eat the chickens do...also free chicken feed.
A steady supply of free feed and I am going into the sausage business.

Cattle eat grass...I have grass fenced off.

 

I also believe during the first depression there were no property taxes...I could be wrong though! My point is that the economy is much more leveraged now!

 

I respectfully disagree...I am not hopefull about the future.

I think it is going to get worse...might even collapse.

Just a hunch.

 

I believe farm-based commodities will generally do well going forward.

 

why do you think I like gold so much for? If there is a collapse then the gold can be used once a new normal comes.....the gold will be of not much use during the 6 - 12 months of chaos...but after that you will find that there is a market for gold !

 

What a profound sentiment. Truly insightful.

 

Because he/she is a statist who worships the central banking system and the FIAT currency it forces on the country.