Gold up HUGE today (broke $900/oz)

[socialize_me]

Isn't owning gold something that you get laughed at for? Like being a primitive human being impressed by some ancient relic that used to be called money?

What I find funny is how these people with Economic degrees and what not laugh at the idea of gold and think you're a loon if you own it, yet they're obsessed with paper and replicated artwork.

[danberkeley]

Isn't owning gold something that you get laughed at for? Like being a primitive human being impressed by some ancient relic that used to be called money?

What I find funny is how these people with Economic degrees and what not laugh at the idea of gold and think you're a loon if you own it, yet they're obsessed with paper and replicated artwork.

Sell it now before it hits 800 again. :p :D

[ClayTrainor]

with Economic degrees and what not laugh at the idea of gold and think you're a loon if you own it, yet they're obsessed with paper and replicated artwork.

Keynesians like to waste their savings on learning how to manipulate debt.

I guess it only makes sense that most of them need a big government loan to get their Economics degrees.

might as well put those debt theories to work :rolleyes:

[brandon]

Isn't owning gold something that you get laughed at for? Like being a primitive human being impressed by some ancient relic that used to be called money?

What I find funny is how these people with Economic degrees and what not laugh at the idea of gold and think you're a loon if you own it, yet they're obsessed with paper and replicated artwork.

I think it's funny how I have a few gold coins that sit in my room day after day, not doing anything. They don't change. Yet everyday the rest of the world changes it's mind on how many federal reserve notes they will offer me for my gold.

[gls]

Isn't owning gold something that you get laughed at for? Like being a primitive human being impressed by some ancient relic that used to be called money?

What I find funny is how these people with Economic degrees and what not laugh at the idea of gold and think you're a loon if you own it, yet they're obsessed with paper and replicated artwork.

I was arguing with a friend last night and he actually said that gold has "no intricate value". I couldn't help but laugh at the irony. I told him he should get a job at CNBC with insight like that.

[brandon]

I was arguing with a friend last night and he actually said that gold has "no intricate value".

It doesn't :)

[gls]

It doesn't :)

Oops, I meant intrinsic obviously.

[dannno]

It doesn't :)

Yet it has held it's value for thousands of years...

It is in fact the most safe storage of wealth throughout history.

[FreeMama]

I think it's funny how I have a few gold coins that sit in my room day after day, not doing anything. They don't change. Yet everyday the rest of the world changes it's mind on how many federal reserve notes they will offer me for my gold.


This is exactly how I feel LOL

[brandon]

Yet it has held it's value for thousands of years...

It is in fact the most safe storage of wealth throughout history.

Yep, the supply/demand ratio has remained relatively constant over the years.

Of course, if you look at shorter time periods it doesn't really store wealth as well. Just look at the gold bubble of 1980

[decatren]

you think it will come back down a bit, or is it on its way up permanently?

[JoshLowry]

The doomer in me says that it will go back down quite a bit. I would imagine the central banks will sell off a ton of it in their last ditch efforts to keep the economy looking like it is fine.

[Jeremy]

I hear gold and silver will go down a lot, but then go up really high

[ClayTrainor]

The next dip is probably a good time to buy then....

[lucius]

With what is coming down the pike, anytime you buy is a good time...not to say that precious metals are not subject to manipulation.