i hope it stops. i work for an e-waste recycling company and the money we have been getting for items from big recyclers have damn near been cut in half.
is the gold crash finally here?
- Thread starter zerozero
- Start date
Domingo Halliburton
Handmade in USA
Yeah no shyt gold is liquid...for half the spot price. From what I can gather from the rest of your misspelled post, im American and I'm usually not worried about the dollar collapsing. Like I give a shyt what Argentinian currency does. There's like six currencies that actually matter and whatever Argentina uses isn't it.
Dr Dre's ProductionSkills
Hutch, yella, Mel-man, Daz, Mike Elizondo
I can sell my gold right now for spot price
Well thats ur problem u have no concept about currencies or how currencies can collapse or more importantly how it relates to gold
All u need to know is that any govt at any time can devalue ur currency whenever they want why do they devalue thier currency u ask prob cause they owe a lot of debt so u should give a sh1t about countries like argentina and mex cause thats what will happen to us or how do u think our govt plans to pay bk all the money they are printing growth yeah right lok at the growh weve got with the 4 years of printing weve done
U being american doesnt mean sh1t cause we are in a global economy
What happened to argentina and mex was they basically pushed a reset button on their currency ex u have 5k in the bank but now u magically overnight have 2500 cause ur paper currencies value is set by our central bank now in that scenario wouldnt u like to own gold
Sorry for the misspelling im usin a tablet
Dr Dre's ProductionSkills
Hutch, yella, Mel-man, Daz, Mike Elizondo
All this money printing has inflated stock market prices but yet we havent seen gdp crazy growth so how are we paying this money back devaluing our currency which leads to inflation u should be worried about the dollar collapsing
depends.
if i need more liquidity, i.e. im going to strategically invest/spend the money in the next 6-12 months, then i'll take the cash.
if im saving for 1-5-10+ years, then ill take the physical gold.
the reason is, i know the economic fundamentals behind the dollar are not sound. excessive debt, government mismanagement, and corporate greed have crashed dozens of fiat currencies before, and it will destroy our national economy just the same if we dont change course. without a dramatic change in economic policy and government regulation, the elite financial interests who are currently controlling our public policy are going to damage this country's socioeconomic fabric for generations to come, all while they get rich in the process.
plus, do you know how easy it is for the Money Trust to manipulate the stock markets and the currency markets? there are financial networks that can "crash" a developing nation's economy overnight through simple economic speculation on a massive scale done through the stock and/or currency market. my point here is that our entire system is highly susceptible to negative manipulation by the powers that be, so even if your economic assessments are initially correct, they're still based on an inaccurate system so therefore will give an inaccurate view of the economic reality.
i can't believe some of yall in here... questioning the stability of gold while supporting the stability of the dollar lol... unbelievable.
Im 
@ the groupieing for gold
Gold is a fear index... fear is partionally rational but largely emotional/irrational....if the situations people hedging with gold ever came to be reality gold would be worthless... likewise if they ever started to manage the dollar properly there would be no need to hedge against it... its only now, with the combination of an economy stable enough to operate in the short term with enough mismanagement to worry about the long term in which gold fear can be entertained enough to sustain its high prices. Treasuries would not be priced like they are; dollar would lose its place as the global reserve currency; USD inflation over the last decade would be a lot higher than the 3% a year its been. The only metric backing gold's price is gold's price
For fukks sake gold took an 84% L from 1980 to 2000... meanwhile the dollar took a good 50% loss over that period... govt debt also increased by about 200%... so why is gold a hedge now all of a sudden for shyt that was going on during its slide? The #s dont add up
People dump on Bitcoin... can a gold head explain how gold is any better?
@ the groupieing for goldGold is a fear index... fear is partionally rational but largely emotional/irrational....if the situations people hedging with gold ever came to be reality gold would be worthless... likewise if they ever started to manage the dollar properly there would be no need to hedge against it... its only now, with the combination of an economy stable enough to operate in the short term with enough mismanagement to worry about the long term in which gold fear can be entertained enough to sustain its high prices. Treasuries would not be priced like they are; dollar would lose its place as the global reserve currency; USD inflation over the last decade would be a lot higher than the 3% a year its been. The only metric backing gold's price is gold's price
For fukks sake gold took an 84% L from 1980 to 2000... meanwhile the dollar took a good 50% loss over that period... govt debt also increased by about 200%... so why is gold a hedge now all of a sudden for shyt that was going on during its slide? The #s dont add up
People dump on Bitcoin... can a gold head explain how gold is any better?
so you'd stock it as an alternative currency basically? you gonna barter your gold for some wheat breh?
even then it doesn't make sense to buy now if it's priced too high compared to its future value
If you're a long term investor, and invested back in the late 1990s, you'd be sitting on a 500%+ profit. A safer bet you won't find anywhere. It's only ridiculous if you're a short term investor and expect to make a 500% profit in in a very short time span. Can you point out something I can invest in and expect a 500% in a relatively short period?
Palladium is a good investment, too. So are fossil fuels. Investors have made a killing on oil investments dating back to the 1990s.
Getting back to gold...It's not a ponzi scheme. It's been used by major civilizations dating back to the 3 millennium B.C. Ponzi schemes promises HUGE returns in SHORT time periods. Gold's been around for 5,000 years. That's not a short time. And the returns depend on when you decide to cash in. In a ponzi scheme, you lose the moment you invest. So far that hasn't really happened with gold.
We're lightly treading on Keynesian economics, not macro economics.
Yes, but you don't measure investments by 2 day perforances, you measure them in the long term runs, like years. Also, gold recovered 1% the day after the so called crash.It lost more in two days than it has in 30 years. If the stock market did the same thing, it would be considered a
crash.
But the most important lesson is this: physical gold didn't crash, because the demand for physical gold actually grew, it's paper gold that crashed (aka not physical gold, "Futures"). No smart investor would put their bet on paper gold/futures, the ones that did are the ones that lost. Paper gold is just a piece of paper, and there's no guarantee that you will receive physical gold.
But it does. China, Russia, India, etc are hoarding gold for a reason.
But inflation is real, and it's not low, and the dollar is weak.
In 1993 the week of April 19, a gallon of gasoline would cost you an average of about 1.079 or $1.08.
Today, the week of April 15, a gallon sells for 3.542 or $3.54.
Gasoline price history
Now, if the dollar is "strong" as you claim, then how come you're getting much less, about 3 times LESS for a $1 dollar today than what you got with that same dollar 20 years ago? Sorry breh but your concept of strong is entirely backwards. And it's not just gasoline, it's pretty much everything. Inflation has raised prices for all goods across the board.
What really concerns me is how much will a dollar get you 20 years from now.
So does that apply to gold as well? IS gold not worth anything today? Remember that gold's rarity is that you can't make gold. You can make all the black pepper you want, producing it at an industrial level, but not gold. All the gold in the world was made by exploding stars billions of years ago. The same principal applies to fiat paper money. You can pretty much create it out of thin air by printing it at an industrial level. So like black pepper, it pretty much becomes 'not worth anything' because there's so much of it in circulation.
But they're not managing it correctly, this is why China and other countries are hoarding gold now, they're getting ready to dump the dollar. Even 3% inflation is scary because we had ZERO job growth for that same decade.
inflation calculator
Long term, 84% loss from 1980 to 2000 is NOTHING compared to the 500% profit from 1999 to 2011. But did the dollar have a period of growth, anything even remotely resembling a 500% growth?
Gold has been rising parallel to the 16 trillion dollar debt dating back to 2000.
I'd rather carry a gold or silver coin for a loaf of bread than bricked dollars for that same loaf of bread. Inflation, man.so you'd stock it as an alternative currency basically? you gonna barter your gold for some wheat breh?
This is the future of paper money.
Wait a sec... are you comparing bitcoin to gold?
Bitcoin is pretty much fiat. It's made from nothing. Gold is physical and rare. It was created when stars exploded billions of years ago.
Gold has been rising parallel to the govt debt recently because that is when this whole "hedge for the apocalypse" mentality started to take hold... its purely psychological
You are talking about $2T worth of holdings out of a $220T+ portfolio (all the wealth in the world). Gold doesnt even make up 1% and you are using it as some divining rod of entire countries holdings
And gold was popular 5,000 years ago because there was no other way to make money that wasn't easy to counterfeit. Now most money in existence is digital, counterfeiting isn't even a factor
Plus @ China looking to dump the dollar
China
Their Treasury holdings are at record highs and increasing
Not to mention like I said, there is only $2T worth of gold in existence.... foreign Treasury holdings amount to double that... so its numerically impossible for them to switch from dollars to gold
The BRICs have free reign over their currencies... why haven't they switched to a gold standard??? Why hasn't OPEC started pricing oil in gold bullion? You claim gold is the next wave.... what % of gold makes up for Chinas holdings? Any links showing this growth in their gold portfolio??? People talk a good game about gold but reality doesn't line up with the rhetoric
You are talking about $2T worth of holdings out of a $220T+ portfolio (all the wealth in the world). Gold doesnt even make up 1% and you are using it as some divining rod of entire countries holdings
And gold was popular 5,000 years ago because there was no other way to make money that wasn't easy to counterfeit. Now most money in existence is digital, counterfeiting isn't even a factor
Plus
@ China looking to dump the dollarChina
Their Treasury holdings are at record highs and increasing
Not to mention like I said, there is only $2T worth of gold in existence.... foreign Treasury holdings amount to double that... so its numerically impossible for them to switch from dollars to gold
The BRICs have free reign over their currencies... why haven't they switched to a gold standard??? Why hasn't OPEC started pricing oil in gold bullion? You claim gold is the next wave.... what % of gold makes up for Chinas holdings? Any links showing this growth in their gold portfolio??? People talk a good game about gold but reality doesn't line up with the rhetoric
Dr Dre's ProductionSkills
Hutch, yella, Mel-man, Daz, Mike Elizondo
Lol at money now being digital so counterfitting is not a factor wtf are u talking about do u thimk they are printing actual dollars during these qe sessons
No they are jus makin up the money out of thin air which has similar effects to counterfitting money money in the money supply equals less value of that currency look at what japan is doing now
No body is advocating for returm of gold standard its unreasonable but owning gold personally is advocated only reason dollar is strong now is cause other currency are gettin smashed down it will happen here
5k in dollars vs 5k in gold in different decadea like 50 60 70 80's look at the results now of having that amount back in those decades 5k in the sixties was a lot of money now u cant even buy a car 5k of gold In the sixties was a lot of gold now that amount would be insane
No they are jus makin up the money out of thin air which has similar effects to counterfitting money money in the money supply equals less value of that currency look at what japan is doing now
No body is advocating for returm of gold standard its unreasonable but owning gold personally is advocated only reason dollar is strong now is cause other currency are gettin smashed down it will happen here
5k in dollars vs 5k in gold in different decadea like 50 60 70 80's look at the results now of having that amount back in those decades 5k in the sixties was a lot of money now u cant even buy a car 5k of gold In the sixties was a lot of gold now that amount would be insane
Dr Dre's ProductionSkills
Hutch, yella, Mel-man, Daz, Mike Elizondo
so you'd stock it as an alternative currency basically? you gonna barter your gold for some wheat breh?
even then it doesn't make sense to buy now if it's priced too high compared to its future value
No id sell my gold for 4 or 5 times the value of what my new currency would be worth or also be able to sell my gold into any strong currency I choose
All thay bartering is jus nonsense theyre will always be a currency fiat thing is if the govt pushes a reset button on the dollar an devalues it overnihght to pay their debts then gold would be the thing to own and ull trade in for many times what the new currency is worth
Look at gold as wealth preservation
Dr Dre's ProductionSkills
Hutch, yella, Mel-man, Daz, Mike Elizondo
Im
Gold is a fear index... fear is partionally rational but largely emotional/irrational....if the situations people hedging with gold ever came to be reality gold would be worthless... likewise if they ever started to manage the dollar properly there would be no need to hedge against it... its only now, with the combination of an economy stable enough to operate in the short term with enough mismanagement to worry about the long term in which gold fear can be entertained enough to sustain its high prices. Treasuries would not be priced like they are; dollar would lose its place as the global reserve currency; USD inflation over the last decade would be a lot higher than the 3% a year its been. The only metric backing gold's price is gold's price
For fukks sake gold took an 84% L from 1980 to 2000... meanwhile the dollar took a good 50% loss over that period... govt debt also increased by about 200%... so why is gold a hedge now all of a sudden for shyt that was going on during its slide? The #s dont add up
People dump on Bitcoin... can a gold head explain how gold is any better?
The dollar could be seen as a fear index too the euro and yen are seen as strong currencies that are getting beat down becasuse of no growth and too much debt and mismanagement so thata why dollar strong now but we hav the same problem they hav but they are at advanced stages of problema we are on the same path
Lol at managing dollar overnight b we hav no growth owe debt if they stopped excess printing our markets would crash
Wealth preservation is the name of the game
Dollar is backed by the US Govt and is invested in heavily by huge entities like countries and corporations
Gold is backed by the faith and contrarianism of people like you
As far as making money I'm always going to bet on stupid, which is why gold is a great buy. But there is nothing fundamentally better about gold than any currency or commodity
Gold is backed by the faith and contrarianism of people like you
As far as making money I'm always going to bet on stupid, which is why gold is a great buy. But there is nothing fundamentally better about gold than any currency or commodity
