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post #1 of 44 (permalink) Old 11-18-2012, 09:06 AM Thread Starter
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Purchasing physical gold

Any of you purchase physical gold?

The idea that gold is not increasing in price, but the USD is decreasing in value was presented to me this morning.

1 oz of gold buys the same amount of goods and services that it always has. 1 USD buys less and less with time.

Also presented:

Gold is money while USD is a currency.

Gold is finite. USDs can be printed at will.

Historically all fiat currencies have failed.

Not my ideas but I'm curious if any of you buy and how/ where you do?
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post #2 of 44 (permalink) Old 11-18-2012, 09:26 AM
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I don't buy gold, but Know some people at work who do. For them, it's more part of their retirement plan (ie, low risk investment) then a safety net to the dollar collapsing. They mix their portfolio with a small percentage of gold.

To counter some of the statements that were made to you.....
Gold is not money or a currency. It used to be, but in today's society it's nothing than a rare metal. Try buying a cheeseburger with a piece of gold..... They wouldn't know what to do. You might have better luck buying a car, but I still doubt a dealership would take it as money.

Gold can be bartered with, just like other goods (tv, corn, whiskey), but it will have a variable price per ounce based on what the end person thinks they can get for it. There is not enough gold in the world to be used as a universal currency even in just the U.S. so it won't be consistently accepted. Beyond that, the value of gold is highly dependent on purity. Without both parties in the transaction knowing exactly that...... You have to negotiate. Trust is a big issue.

This is all assuming the end of the world of course.
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post #3 of 44 (permalink) Old 11-18-2012, 10:58 AM
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Bad idea.

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post #4 of 44 (permalink) Old 11-18-2012, 11:13 AM Thread Starter
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Why bad? While searching around I found that it was made illegal to own gold from 1933 to 1974. I found that to be interesting. How else would one protect from a currency reissue or hyperinflation?
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post #5 of 44 (permalink) Old 11-18-2012, 11:46 AM
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Originally Posted by ClevisR6 View Post
Why bad? While searching around I found that it was made illegal to own gold from 1933 to 1974. I found that to be interesting. How else would one protect from a currency reissue or hyperinflation?
First , If the world goes to hell , your gold will just be shiny metal .For gold to have value ,it needs demand , when people are thinking about surviving , they're not thinking about gold . Second , stop watching gold commercials . Yes , you can buy gold and hope it will go up in value , but the reality is that it has a better chance of going down . Nobody "needs" gold . Its in the marketing . Does anyone ''need'' diamonds ? Same with gold . Third , people have been preparing for the ''day'' for forty years . I bought a bunch of silver coins from a friend of mine years ago . Asked him why he had so many , he said that people thought there would be chaos and we would need a precious metal for barter , he believed this because people were talking about it . No internet or media like today , back then . IMHO , its a trap . My friend is a retired rocket scientist , smart guy , but still got fooled. Buy yourself a Rolex , at the least it will tell you the time , just remember it wont be accurate.

I own some gold , but its at $300 an ounce , not $1750. The hyperinflation question is hard to answer , too many issues can come up in the world . All I know is that I have asked financial people '' why is the American dollar always in demand over any other currency '' they always say ,more or less , we still have a solid financial system thats hard to disrupt.

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post #6 of 44 (permalink) Old 11-18-2012, 12:32 PM Thread Starter
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First , If the world goes to hell , your gold will just be shiny metal .For gold to have value ,it needs demand , when people are thinking about surviving , they're not thinking about gold . Second , stop watching gold commercials . Yes , you can buy gold and hope it will go up in value , but the reality is that it has a better chance of going down . Nobody "needs" gold . Its in the marketing . Does anyone ''need'' diamonds ? Same with gold . Third , people have been preparing for the ''day'' for forty years . I bought a bunch of silver coins from a friend of mine years ago . Asked him why he had so many , he said that people thought there would be chaos and we would need a precious metal for barter , he believed this because people were talking about it . No internet or media like today , back then . IMHO , its a trap . My friend is a retired rocket scientist , smart guy , but still got fooled. Buy yourself a Rolex , at the least it will tell you the time , just remember it wont be accurate.

I own some gold , but its at $300 an ounce , not $1750. The hyperinflation question is hard to answer , too many issues can come up in the world . All I know is that I have asked financial people '' why is the American dollar always in demand over any other currency '' they always say ,more or less , we still have a solid financial system thats hard to disrupt.
I wasn't thinking world totally gone to hell, just financial chaos and being able to transfer wealth through a currency reissue, etc. As in once a new currency is in place, go to the new financial institution and trade in my gold for the new currency. No hookers, blow, cheeseburger, or new car.

i don't watch regular tv mayne. just netflix streaming if anything.
Just watched "The End of the Road" on netflix. could have been financed by the goldees, who knows...

Our financial system got pretty disrupted in 2008. They printed alot of money to "fix" that.

A con is that the government could again make it illegal to own gold, and again require it be turned in for a small amount of paper money or face jail time and fine...
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post #7 of 44 (permalink) Old 11-18-2012, 12:40 PM
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Originally Posted by ClevisR6 View Post
I wasn't thinking world totally gone to hell, just financial chaos and being able to transfer wealth through a currency reissue, etc. As in once a new currency is in place, go to the new financial institution and trade in my gold for the new currency. No hookers, blow, cheeseburger, or new car.

i don't watch regular tv mayne. just netflix streaming if anything.
Just watched "The End of the Road" on netflix. could have been financed by the goldees, who knows...

Our financial system got pretty disrupted in 2008. They printed alot of money to "fix" that.

A con is that the government could again make it illegal to own gold, and again require it be turned in for a small amount of paper money or face jail time and fine...
Dont worry too much about this . Ultimately , the people are in control over the government . Dont forget that people who believe in America are armed .

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post #8 of 44 (permalink) Old 11-18-2012, 12:43 PM
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Now the interesting aspect about gold for those who dont know. It surpasses its value as just, "pretty necklace!"

It also is used in the electronics around you so it will always be needed unless the big EMP hits us and then will be a fun rebuild of everything.


But considering you also invest in lead, its not bad to look into other investments

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post #9 of 44 (permalink) Old 11-18-2012, 01:21 PM
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Quote:
Originally Posted by ClevisR6 View Post
Any of you purchase physical gold?
The idea that gold is not increasing in price, but the USD is decreasing in value was presented to me this morning.
1 oz of gold buys the same amount of goods and services that it always has. 1 USD buys less and less with time.
Also presented:
Gold is money while USD is a currency.
Gold is finite. USDs can be printed at will.
Historically all fiat currencies have failed.
Not my ideas but I'm curious if any of you buy and how/ where you do?
For the record, the USD (and all currency) slowly being devalued through inflation is actually an important part of the economy.
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post #10 of 44 (permalink) Old 11-18-2012, 01:26 PM
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Quote:
Originally Posted by ClevisR6 View Post

Our financial system got pretty disrupted in 2008. They printed alot of money to "fix" that.
This is a common misconception. The Government issued bonds (a promise to repay a loan at a fixed %) and traded that for hard currency from people, companies, and countries. It didn't print money...... it traded a promise for money. While money can be "created" due to the time effect of money and short term loans, the government typically does not actually print money to pay debt. (They just print more bonds to pay off the previous bonds, and keep trading a promise for money).

If you want to use gold as an economic restart button. You'd first have to stockpile enough to have it be worth it ($50K), then wait out the 10 years or so of economic disarray before a new stable currency surfaces.... at which time you could trade your gold (at a drastically reduced value due to loss of demand) in for the new currency.

I think bullets, food, tools, house, etc. are better investments.

Just remember, when the SHTF, debt disappears. My fixed rate mortgage on my house with all my guns and toys gets paid off pretty fast when inflation runs away and banks collapse. They have nothing and I still have material goods.
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post #11 of 44 (permalink) Old 11-18-2012, 01:39 PM
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Invest in full automatic weapons. I have never seen one depreciate, and there is always a market for one. I'm 100% serious.
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post #12 of 44 (permalink) Old 11-18-2012, 01:58 PM Thread Starter
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Quote:
Originally Posted by TripleZ View Post
This is a common misconception. The Government issued bonds (a promise to repay a loan at a fixed %) and traded that for hard currency from people, companies, and countries. It didn't print money...... it traded a promise for money. While money can be "created" due to the time effect of money and short term loans, the government typically does not actually print money to pay debt. (They just print more bonds to pay off the previous bonds, and keep trading a promise for money).
Printing was the wrong word. Should have said created. Electronically, physically, via quantitative easing, via the fed purchasing treasuries etc.
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post #13 of 44 (permalink) Old 11-18-2012, 02:01 PM Thread Starter
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For the record, the USD (and all currency) slowly being devalued through inflation is actually an important part of the economy.
please explain
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post #14 of 44 (permalink) Old 11-18-2012, 02:04 PM
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Printing was the wrong word. Should have said created. Electronically, physically, via quantitative easing, via the fed purchasing treasuries etc.
Yeah.... that. No argument there.
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post #15 of 44 (permalink) Old 11-18-2012, 02:37 PM
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please explain
The key being slow. Moderate would have been a better word choice. If money slowly becomes more valuable, there is less incentive to buy and invest it other things. Take a bank for example, if currency is constantly deflating, banks have little insentive to lend and invest money now because they can just hold onto it and it gains value.

Same sorta thing happens with consumers. If your choice is to buy something now, or wait and it becomes "cheaper", your more likely to wait. Consuming shit now is good for good for the economy. Ergo, moderate inflation is an important part of economies.

This says nothing for the run away inflation your actually trying to protect yourself against though.
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post #16 of 44 (permalink) Old 11-18-2012, 02:39 PM Thread Starter
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maybe it's time for a nice turret press....

ammo prices are up sharply from Dec11/Jan12.
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post #17 of 44 (permalink) Old 11-18-2012, 02:53 PM
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maybe it's time for a nice turret press....

ammo prices are up sharply from Dec11/Jan12.
Haha yeah I bought a Hornady progressive and some componants at the end of october.
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post #18 of 44 (permalink) Old 11-18-2012, 03:11 PM
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Invest in full automatic weapons. I have never seen one depreciate, and there is always a market for one. I'm 100% serious.
True. Look these guys up , I use to go there when I lived in FL.


http://www.onlythebestfirearms.com/

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post #19 of 44 (permalink) Old 11-18-2012, 04:35 PM
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Quote:
Originally Posted by ClevisR6 View Post
maybe it's time for a nice turret press....

ammo prices are up sharply from Dec11/Jan12.

<~ you know who to talk to
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post #20 of 44 (permalink) Old 11-18-2012, 04:36 PM
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Quote:
Originally Posted by Dave13 View Post
Invest in full automatic weapons. I have never seen one depreciate, and there is always a market for one. I'm 100% serious.

why not suggest also getting a publix savers card and season pass to universal studios :P
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post #21 of 44 (permalink) Old 11-18-2012, 05:39 PM
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True. Look these guys up , I use to go there when I lived in FL.


http://www.onlythebestfirearms.com/
There went my 401(k). Thanks Stan.

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post #22 of 44 (permalink) Old 11-18-2012, 05:59 PM Thread Starter
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no doubt. still have a lead on those primers we talked about?
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post #23 of 44 (permalink) Old 11-18-2012, 06:04 PM Thread Starter
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Invest in full automatic weapons. I have never seen one depreciate, and there is always a market for one. I'm 100% serious.
FL Dave.... always rubbing it in....

Seriously good for you for getting out. IL is down the tubes.
Isn't CA rated better now?

Anyway our post reminded me of a pre 86 childhood memory.... pops had some cool shit that I have to track down
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post #24 of 44 (permalink) Old 11-18-2012, 06:27 PM
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Quote:
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Invest in full automatic weapons. I have never seen one depreciate, and there is always a market for one. I'm 100% serious.
Not true. Prices are way down from where they were a few years ago. Are they up from 1986? Sure, but like anything else the prices changes with demand.

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Man that dude has a nice rack though....
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post #25 of 44 (permalink) Old 11-19-2012, 08:02 AM Thread Starter
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post #26 of 44 (permalink) Old 11-19-2012, 09:57 AM
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Why in the world would you buy something that's priced at an all time high? That graph would tell me to stay far away from gold.

Good luck

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post #27 of 44 (permalink) Old 11-19-2012, 11:10 AM
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woah, 2008, dayum!

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post #28 of 44 (permalink) Old 11-19-2012, 12:01 PM
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Why buy gold when you can just break into someone's home and take it all? I'm glad I had so much laying around; someone is sure to enjoy Christmas this year.
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post #29 of 44 (permalink) Old 11-19-2012, 12:07 PM
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Time to sell not buy. I sold a bunch of old rings and mixmatched silver I cleared out from my dad's place when he died. It was all scratched up or ridiculous jewelry like pinky rings which were popular in the 20s and 30s.

I didn't get rich but I got what I feel was top dollar for old junk on a per ounce basis. Then I told my wife, she isn't getting any jewelry as long as the chain that holds the gem is worth more than the gem.

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post #30 of 44 (permalink) Old 11-19-2012, 12:47 PM Thread Starter
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Quote:
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Why in the world would you buy something that's priced at an all time high? That graph would tell me to stay far away from gold.

Good luck
It's a graph of the money supply M0. At an all time high.

Maybe it's not that gold is at an all time high but rather the dollar at an all time low?

Also at an all time high:
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