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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Gold spot price alert: >€60,000/kg
#27687144 - 03/08/22 08:04 AM (1 year, 10 months ago) |
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I just got a spot price alert I didnt expect this soon.
Gold: €60,136/kg Euro: $1.09
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Brian Jones
Club 27



Registered: 12/18/12
Posts: 12,340
Loc: attending Snake Church
Last seen: 4 hours, 22 minutes
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Re: Gold spot price alert: >€60,000/kg [Re: Asante] 1
#27692020 - 03/12/22 04:24 AM (1 year, 10 months ago) |
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You've been talking about gold for a while now, and I was never quite buying the idea (except I did have a couple mint St. Gaudens that I profited on quite well after holding them for 5 years back in the early 21st century. But now I keep reading about the inflationary economy and poor prospects for the stock market, unless someone makes a superb pick. I'm starting to think you're on to something.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Gold spot price alert: >€60,000/kg [Re: Brian Jones]
#27692036 - 03/12/22 05:02 AM (1 year, 10 months ago) |
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-------------------- Omnicyclion.org higher knowledge starts here
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: Gold spot price alert: >€60,000/kg [Re: Asante]
#27692057 - 03/12/22 05:48 AM (1 year, 10 months ago) |
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You still have to sell it when it’s high or it’s meaningless
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Gold spot price alert: >€60,000/kg [Re: TheFakeSunRa]
#27692304 - 03/12/22 10:36 AM (1 year, 10 months ago) |
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Its not meaningless.
Suppose Larry has $1000 in his wallet, Curly has $1000 in the bank and Moe has $1000 in gold..
If the economy gets curb stomped, Larry finds it hard to pay anymore, Curly can't get to his money at all cause of a bank holiday and Moe? While his friends $1000 now spends like $100, his gold now would sell for $10,000
In the past 50 years, gold corrected an ANNUAL 8% for inflation, thats not as good as the S&P500, buit its zero risk and zero reliance on the risks of others.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: Gold spot price alert: >€60,000/kg [Re: Asante]
#27692391 - 03/12/22 11:58 AM (1 year, 10 months ago) |
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I understand that, obviously, but you still have to sell it to spend it. So, it’s meaningless until you sell it.
Quote:
his gold now would sell for $10,000
And he’ll get $10,000 if he sells.
You only make or lose money on investments when you sell.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB
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Re: Gold spot price alert: >€60,000/kg [Re: TheFakeSunRa] 3
#27692922 - 03/12/22 06:27 PM (1 year, 10 months ago) |
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Russians wish they had gold coins instead of money in their banks.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Quote:
TheFakeSunRa said: I understand that, obviously, but you still have to sell it to spend it. So, it’s meaningless until you sell it.
Quote:
his gold now would sell for $10,000
And he’ll get $10,000 if he sells.
You only make or lose money on investments when you sell.
Investments yes.
Gold is a store of value, not an investment. It only netted you 8% annual gains over the last 50 years because the game is rigged to your detriment and you stop playing by converting to Gold.
Quote:
Ahab McBathsalts said: Russians wish they had gold coins instead of money in their banks.
Putin wants it too, he immediately ended the gold tax and instructed his countrymen to hedge in gold. Putin recognizes that you can only have a strong Russia through strong Russians, and that its in their best interest that Russians own gold rather than are dependent on tanking roubles, euros and dollars.
if you own money, you own promises to get value. If you own gold, you own the actual value.
Priceless insights: it was never about the money!
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Quote:
Ahab McBathsalts said: Russians wish they had gold coins instead of money in their banks.
If it’s for post breakdown bartering it might as well be vodka or beef jerky or guns and ammo.
Quote:
If you own gold, you own the actual value
Gold has some utility but its value is largely predicated on the belief that it has value same as any other investment.
I’m not saying gold isn’t a good investment. I’m just saying, like anything else, it has to be sold.
It’s a hedge against inflation. But you still have to sell it. You can’t live in it. You can’t eat it. It’s a commodity.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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