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 Veritas
Registered: 04/15/05
Posts: 11,088
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 Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark!  [Re: Wiccan_Seeker]
#7865874 - 01/11/08 06:45 PM (5 years, 4 months ago) |
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I'd be less worried about hyperinflation than mass panic.  People freak out over little things nowadays...you should see downtown in our tiny city when the power goes out & traffic signals stop working! Apparently no one knows that a non-functioning traffic light becomes a stop sign.
If the U.S. really had a major economic crisis, I would want to stay home as much as possible. Panicky humans are not safe to be around. We would eat a lot of rice and beans and oatmeal, but we could stay out of the stores and off the roads for a good while.
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 Wiccan_Seeker
gold foil hat admin
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Veritas]
#7866108 - 01/11/08 07:29 PM (5 years, 4 months ago) |
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Quote:
mass panic.
Exactly.
Quote:
People freak out over little things nowadays...you should see downtown in our tiny city when the power goes out & traffic signals stop working! Apparently no one knows that a non-functioning traffic light becomes a stop sign.
Imagine the hysteria a hyperinflation would cause. And everybody has a gun in the US. What if THEY can't afford what they need?
Quote:
If the U.S. really had a major economic crisis, I would want to stay home as much as possible. Panicky humans are not safe to be around. We would eat a lot of rice and beans and oatmeal, but we could stay out of the stores and off the roads for a good while.
Thats where the supply of food and drink comes in. Not only do you not have to buy it at shocking prices, but you can avoid the very real dangers you yourself discuss.
In chinatown or a good food place you can get a 50 lbs gunnybag of rice for something like $15. Now thats fifteen bucks well spent. I assure you that even without super crises that wiull be $30 in 2009 - theres a world food shortage and food prices are going up and up.
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PoisonedV
Fuming Shrooming
Registered: 09/13/07
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7880298 - 01/14/08 10:21 PM (5 years, 4 months ago) |
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I just watched zeitgeist. I think I am going to buy alot of silver and gold now. Where would you suggest I buy this, wiccan seeker?
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Lazy...
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Wiccan_Seeker
gold foil hat admin
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: PoisonedV]
#7881731 - 01/15/08 05:54 AM (5 years, 4 months ago) |
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The answers are higher up in the thread 
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OnlyGold has a 10 ounce minimum order though, places like APMEX and KITCO also have a good reputation.
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You can get BURNED in places like eBay. I read the tale of woe of an investor who bought a dozen or so gold coins (at $750 a pop) and found them to be lead coins with gold paint on them. Particularly suspect is any eBay delivery from Asia. eBay is a good place to unload though as people there often bid higher than you'd get elsewhere.
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A good real-world coinshop can have the coins also, and at a good price. You walk in, put cash on the table and walk out with your Krugs, Eagles or Maples.
If you're going to buy, buying from a local bank or coinshop is to be preferred, as long as their price is close to spot. If this isn't the case, you can consider domestic online sources.
The recommended bullion to buy:
BEST SILVER: 100oz bars, 1kg bars - of silver of at least 999 purity
SECOND BEST SILVER: 10oz bars of 999 silver, 90% Junk Silver coins as sold by APMEX
THIRD CHOICE SILVER: 1oz silver bullion coins (Silver Maple, Silver Eagle) - only third choice because of added cost, would be best choice if as cheap as bars.
BEST GOLD: 1oz bullion coins (Krugerrand, Gold Maple, Gold Eagle)
SECOND BEST GOLD: 1kg & 10oz bars of 9999 gold, 1/2 and 1/4oz bullion coins
THIRD CHOICE GOLD: 400oz COMEX bars (unless you're super rich), 1oz bars, fractional ounce bars, 1/10 and 1/20oz coins because of high extra cost.
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PoisonedV
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7881954 - 01/15/08 09:15 AM (5 years, 4 months ago) |
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Thanks, I think I will drop by my thriftshops today and see if they have coin exchange type things
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Lazy...
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rawtoxic
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7882031 - 01/15/08 09:39 AM (5 years, 4 months ago) |
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One thing I'm unclear on, which is expected to go up higher: Silver or Gold? which is a better investment and why is it better?
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Wiccan_Seeker
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: rawtoxic]
#7883689 - 01/15/08 04:29 PM (5 years, 4 months ago) |
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If you listen to the goldbugs and silverbugs then most agree that silver will go up more than gold will, the question is WHEN though.
Gold is now at $900 and silver at $16.
Most of the goldbugs I hear are on about gold going to $1.500-$3.000 and most of the silverbugs think silver will go some place $50-$100 ish.
If they are right gold will be 1.5-4x and silver 3-6x
The question is will it happen, and when?
Ultimately an ounce of silver or gold will be worth over a million dollars though, because every fiat currency in history has fallen down to zero.
As I see it the profits on gold are sooner to come, and when silver kicks up is anyones guess.
If you look at the sum of money I put into metals, I myself have put 2/3 in gold and 1/3 in silver.
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FuDAPOPE
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: koppie]
#7890023 - 01/16/08 10:00 PM (5 years, 4 months ago) |
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Hey nomad I'll go mine with you if you tell me where to meet you.
Also I would like to know where to buy quantities of silver and/or gold. I am a college student and I really want to have something to help me out when I am out of college. Gold/silver and/or stocks sound like a very promising idea. I have already read 2 of Jim Cramers books and they provide a very interesting read if nothing else.
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koppie
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7897650 - 01/18/08 04:32 PM (5 years, 4 months ago) |
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Wiccan, didn't you live in Holland? How is investing in silver profitable when you have to pay 19% BTW (sales tax) on your bars? Do you just pay the tax expecting the price to skyrocket or is there a way around it?
At least gold bullion is tax exempt.
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Wiccan_Seeker
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: koppie]
#7898651 - 01/18/08 08:36 PM (5 years, 4 months ago) |
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Quote:
How is investing in silver profitable when you have to pay 19% BTW (sales tax) on your bars? Do you just pay the tax expecting the price to skyrocket or is there a way around it?
There's no legal way around it, so it's a matter of clenching your teeth and paying up. I would have a lot stronger position in silver than I have now, and I'd have a palladium position also if it weren't for that DAMN unwieldy BTW tax. Buy 5 pay for 6. Yukk.
Coinage has "only" 6% tax though as long as they're legal tender some place.
Gold is tax-free, thank God.
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koppie
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7909363 - 01/21/08 02:08 PM (5 years, 3 months ago) |
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At this moment the stockmarket is taking a nosedive.
Why is gold more or less stable? Shouldn't it be going up?
It's falling slightly against the euro, rising slightly against the dollar.
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orchidfanatic
retiree
Registered: 08/12/07
Posts: 832
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: koppie]
#7915436 - 01/22/08 06:20 PM (5 years, 3 months ago) |
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what about gold funds ?
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StreetFreak
smellin' like a plant
Registered: 02/10/07
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#7998367 - 02/09/08 12:23 AM (5 years, 3 months ago) |
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Caribou_Lou
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Wiccan_Seeker]
#8003948 - 02/10/08 11:16 AM (5 years, 3 months ago) |
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gold is probably the best thing you could invest in, my grandpa was always crazy about gold stocks and coins
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