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InvisibleAsante
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Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark!
    #7623027 - 11/11/07 06:30 PM (16 years, 2 months ago)





Lookie, here's an ounce of gold! Currently it can be had for $830, below is an article with 45 financial experts who claim it soon will be worth $1.000, $1.500, $2.000 or more!

This one's for the goldbugs, and those considering to become one.

A good minimal entry into the gold game would be an 1/4oz bullion coin, which currently can be had for about $210 at the better coinshops and online suppliers. Check the current spot price to see if you found a good deal.



No investment is without risk, do your own research and take full responsibility for your actions.



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Who Expects Four-Digit Gold?

Over forty economists finally agree on something
By David Bradshaw, Editor RMP
Nov 5, 2007

The commodity super-cycle has swept gold prices to triple since 2001 -- but that's just the kickoff say the experts.

How high will this bull market in "real money" and commodities drive gold prices over the next 5 to 15 years? Get ready to be shocked!
Gold prices have grown about $100/oz. per year since 2003. Gold was $300 in '03, $400 in '04, $500 in '05, $600 in '06 and now $800 in '07. Savvy investors and gold experts see $850 plus gold in 2008!
Recently many analysts have jumped onto the $1,000/oz. plus gold bandwagon -- most of whom were not considered "gold bugs" in the past, like Citibank and JP Morgan & Co.

Here's a list of forty-five prominent analysts, authors and gold experts already on the record forecasting four-digit gold prices to arrive in the years ahead. Their combined gold price expectation is $2,000/oz. gold!

Count for yourself the dozens of good reasons for owning gold today, which these experts suggest will drive gold prices sky high. I've listed two dozen reasons at the conclusion.

JAMES DINES, Editor, The Dines Letter
"We would be very surprised if the gold price did not blast right through the old highs, and we reaffirm our old targets for gold of $3,000 to $5,000 an ounce (Plus silver over $100 an ounce) ... gold is not merely a colorful trinket but a monetary asset, and when mass fear strikes at the heart of paper money, the stampede to gold will be awesome." -MW, 11-5-07

ROB LUTTS, President, Cabot Money Management
"Gold will hit $850-$870 by the end of 2007 and $2,000 gold is achieveable in this move, given the huge demand from ETFs and soon pensions and insurance companies will be buying gold as a new alternative asset class." -CNBC, 11-2-07

DAVID DAVIS, Analyst, Credit Suisse
"The gold price will soar to more than $1,000 per ounce over the next five years as dwindling supply of the precious metal combines with increased demand. Upward pressure on the price of gold is being driven by the economic environment surrounding the US economy and a change in the supply and demand dynamics surrounding gold." -London Telegraph, 11-1-07

JOHN HILL and GRAHAM WARK, Citibank analysts
"A'Reflationary Rescue', in a new cycle of global credit creation and competititive currency devaluations could take gold to $1,000 an ounce, or higher. Central banks have been forced to choose between global recession or sacrificing control of gold, and have chosen the perceived lesser of two evils." -London Telegraph, 10-1-07.

PAUL O’BRIEN, Analyst, Raymond James
"We believe this rally is still in its infancy with a ‘toe in the water’ ahead of the upcoming 4Q. The gains for gold can be attributed to the interest rate cut by the Federal Reserve and continued weakness for the greenback." -National Post, 9-24-07

AUBIE BALTIN, CFA, CTA, CFP, PhD
"When FEAR combines with full blown Greed, there is no longer any more talk of correction as prices begin to jump 5% to 10% in one day and people line up to buy bullion as signs pop up everywhere, “WE buy and sell gold”. Once both fear and greed take over the market and the short squeezes begin in earnest, there is no way of predicting how high the high. $2,200 gold and $100 silver seems the barest minimum targets, maybe $5,000 or even $10,000." -FiendBear, 9-24-07

JOHN HILL, Analyst, Citigroup
"Gold appears to be entering a new investment-driven phase and has re-asserted itself as a safe haven. Gold will be one of the top beneficiaries of the “Re-flationary Rescue,” which should bode well for hard assets and basic materials. I would not be surprised if gold were to break its all-time high of $850, or even $1,000 or higher in a new cycle of global credit creation and competitive currency devaluations." -National Post, 9-21-07

CHRISTOPHER WOOD, Chief strategist, CLSA
"Market ructions, the sub-prime conflagration and a collapse of the dollar could send gold prices to more than $3,400 an ounce within the next three years. This is not a sub-prime crisis. Sub-prime has merely exposed the bigger scam of structured finance; a scam that is about pretending that bad credit is good credit." -London Times, 9-19-07

DONALD LUSKIN, Chief investment officer, Trend Macrolytics
"I've written in this column about inflation often over the last three years. I've said gold was going to $1,000. If the Fed cuts rates, then I'm going to have to admit I was wrong. Then gold isn't going to $1,000. It's going to $2,000." -Smart Money, 9-7-07

AMBROSE EVANS-PRITCHARD, International Business Editor, London Telegraph
"Gold will fly once investors can see that neither of the two reserve currency pillars (euro and dollar) is on a sound foundation, and once the pair are engaged in a beggar-thy-neighbor devaluation contest to stave off a slump, this would amount to a partial breakdown of the monetary system. Gold will not stop at $800. It might well go beyond $2,000." -London Telegraph, 7-23-07

NED W. SCHMIDT, CFA, CEBS, Schmidt Management Co.
"Monetary illusion evident in the value of paper equities versus the return on paper equities should not be ignored. Asset meltdown now taking place below the surface in mortgage related investments held by speculative hedge funds. As that happens and carnage spreads, the U.S. dollar will come under increasing selling pressure. Gold will be the investment that benefits, and continue the move to more than $1,400." -Financial Sense, 6-20-07

JP MORGAN CHASE & CO, Third largest U.S. bank
"Gold may rise to more than $1,000 an ounce as demand from India, China and exchange traded funds increases and production of precious metal falls." -Bloomberg 6-7-07

DAVID ROSENBERG, Economist, Merrill Lynch
"The current bull market for gold could last another five years, if certain conditions are in place, and the metal's price could soar to an incredible $1,500/oz. Investors should buy gold to beat the current period of stagflation." , -Platts , 4-11-07

JIM SINCLAIR, Author, Chairman of Tan Range JS Mineset
"Gold has no agenda, no allegiance and functions as honest money in a world of lies, corruption, overstatement and spin. $700 to $705 might well be a place certain interests will try and block gold, but their only hope is for momentary success. $761 is yanking at gold from the front with great power. $887.50, a break above $1000 and $1650 are putting their grip on the royal metal as well." JSmineset.com, 2-25-07

LOUISE YAMADA, Managing Director -- Yamada Technical Research Advisors
"Gold is the purest play against the dollar. I see gold surpassing $730 in 2007 on its way to $3,000 within a decade. Gold is probably the most straightforward investment to go with in this environment because of its consistent inverse relationship to the dollar.Other countries are trying to diversify their dollar holdings. They're buying gold and anything they can to get out of the dollar." Bloomberg, 12/11/06

PHILIP MANDUCA, Managing Director -- Titanium Capital Ltd.
"Gold is still by far the optimal choice for most investors to play. It's been successful in '04, '05 and '06. Gold will be through $1,000 in the next 18 months." -Bloomberg, 11-29-06

JULIAN PHILLIPS, Analyst -- GoldForecaster.com
"We would not be surprised to see $1,000-plus gold from sometime in 2007 at the earliest to 2009 at the latest. Physical demand is now being added to by the turnaround in hedge funds' change of heart to the upside. The potential oil shortage and more-than-likely ruptures in the stability of the global-money system when the dollar starts to suppurate." -Marketwatch, 11-3-06

DR. CLIVE ROFFEY, Elliot Wave Theory Analyst/Publisher -- Gold Action
"I believe that the current correction is a more likely to be a minor before a move to well above the previous $720 peak, probably above $800. When the minor correction should occur leading to a wave five that will eventually peak well above $1,000 before we hit the next major correction." -321gold, 10-6-06.

HOWARD RUFF, Editor -- The Ruff Times
"Gold and silver are now early in a historic bull market that will dwarf the 500-1700% profits we made in the '70s. Gold will hit at least $2,172 and $100 silver is inevitable. Investment vehicles to avoid: Stocks, bonds, fixed-return investments like utilities, REITs, residential real estate, ARMS (adjustable rate mortgages). Investment winners in bull markets: Gold, silver, copper and other base metals, uranium. The most powerful, completely essential factor affecting gold is monetary inflation. The most compelling force affecting silver today is the supply/demand equation." -Marketwatch, 8-24-06

DR. DAVID DAVIS, Senior Gold Analyst -- Credit Suisse Standard Securities
"Between 2007 and 2010, supply-and-demand dynamics will undergo irreversible change, caused by a decline in global mine and official sector supply and increased demand from China and the investment community. We still see a gold price of $700/oz, $800/oz and $1,200/oz by 2008, 2010, and 2015 respectively." -Resource Investor, 8-4-06

ROBERT KIYOSAKI, Author -- Rich Dad
"I still think gold will go to $1,500 an ounce. I'm betting against the U.S. dollar. Gold is a hedge against U.S. government mismanagement. My family members have a tradition of saving all their spare change for months on end and then trading all the coins in for a single gold coin." -Washington Post, 6/20/06

STEPHEN LEEB, Author -- The Coming Economic Collapse
"Gold took a hit last week, falling 5.7%. As with other commodities, gold was perhaps due for a correction and responded to Bernanke's tougher words. We could see it drift a little lower -- between $580 and $600. But this downside is paltry compared to the upside potential for gold. Gold could reach a price many times higher than it's at today, regardless of whether inflation or deflation becomes the problem. So we remain buyers of gold along with energy and our low-risk hedges." The Complete Investor -6-12-06

HARRY SCHULTZ, Analyst -- International Harry Schultz Letter
"My view has always been: current governments (which are bank-owned) won't voluntarily return to a gold standard, with its discipline on money creation. But, when the price roars to, say $1,600, they'll quite possibly be forced to do so, to appease a clamor for sound money - e.g. Bretton Woods II. The price could go to $2,000 while they debate new rules. Washington insiders would see it as their last chance to save the US dollar as a reserve currency. If they don't, the euro, yen or yuan could make a bid for that status ... If no rules are made at $1,600, gold could keep climbing till they do. Hello $3,000." -MW, 6-5-06 -- 2007 quote MW

PAUL MYLCHREEST, Analyst -- Cheuvreux Investment
"We also see the possibility of a spike to $2,000 or higher, if the story on diminished central bank gold reserves becomes widely accepted, if central banks in countries with large US dollar holdings compete to buy gold and diversify forex reserves away from dollars, and if the U.S. economy slides into either high rates of inflation or deflation." -Mineweb, 2-6-06.

JIM CRAMER, Founder -- Thestreet.com, Host -- Mad Money, Real Money
"Gold could reach $1,000 if the Chinese stop buying our paper. Once the levee to the Treasuries breaks, the easy high ground worth gaining will be gold. Any portfolio designed to counter government-mandated inflation has to be bedrocked in gold" -New York magazine, Oct. 10, 2005

JAMES TURK, Founder -- Goldmoney.com
"Gold is going much higher, and the $8,000 [per ounce] I mentioned a couple of years ago is probably as good a target as any. There are two aspects to what's driving the gold price: First, there is strong physical demand around the world. When gold crossed the $500-an-ounce level, people started buying gold in anticipation of monetary problems. Second, the physical demand for gold is causing a huge problem for the gold shorts. There has been a large gold carry trade in place. It is very possible gold could have a massive spike in the next six to 12 months to as high as $2,000, driven by these factors." "GOLD MINE" -Barrons, 5/29/06

JIM ROGERS, Author/Adventurer -- Hot Commodities (former George Soros partner)
"Mr. Rogers, who foresaw the start of a commodity rally in 1999, told Bloomberg the boom in energy and raw material prices will endure, driving gold to a record $1,000 an ounce. The shortest bull market for commodities lasted 15 years, the longest 23 years, so if history is any guide, they've got a long way to go. This is not a bubble." -Bloomberg, 4-19-06

RICHARD RUSSELL, Editor -- Dow Theory Letters
"Gold is now being accepted as the fourth currency along with the dollar, the euro and the yen. But there is a difference. Gold is also being recognized as the tangible currency and the ONLY SAFE currency. That gold pays no interest -- but is still at an 25-year high in terms of dollars -- is a testament to its value and safety in the eyes of sophisticated investors." Dowtheoryletters.com

J. TAYLOR, Editor -- J. Taylor's Gold and Technology Stocks
"This is a different gold bull market and most bullish of all is that fact that this is still a stealth bull market. The voice of the global market is just starting to express a declining confidence in the dollar but with a coverage of only 1.7% [in U.S. gold reserves] at close to $700/oz., I believe we are still in the very early stages of a major gold bull market. We have a long, long ways to go toward $3,000 and beyond." -Howestreet.com

JOHN HATHAWAY, Portfolio Manager -- Tocqueville Gold Fund
"Gold is in a bull-market trend, and there are a lot of reasons for that, and we will see higher prices. People shouldn't be surprised to see gold trade in the four digits." -Barrons ... "In truth, the price of gold at $600 is no big deal. In 1980 dollars, it is only $300. If prior highs mean anything, a target of $1700 in today�s dollars is what investors should be thinking about. Investors should worry less about whether this particular moment is a good or bad entry point and ponder the implications of sailing through uncharted waters without a lifeboat." -Tocqueville.com

MARC FABER, Author -- Tommorrow's Gold
"A vicious drop in the Dow coupled with a vicious rise in gold, possibly pushing gold to an astounding $2,000, $3,000 or even $6,000. Commodities are an asset class for the first time in history." Marketwatch.com

BILL BONNER, Author/Editor -- Daily Reckoning
"When the price of gold goes over $1,000, the bull market will be in its bubble phase. The price may go far higher - depending on what else is going on in the economy and the markets. But this will be a time to be careful...when we stop adding to our positions and begin to reduce them. Gold is now cheap and almost hidden. People are buying it for the right reason: because it is cheap. We see signs, though, that gold is coming out of the closet and the financial press is beginning to notice." Dailyreckoning.com

CRAIG R. SMITH, Author/CEO -- Swiss America
"Gold is clearly headed toward $1,000/oz. and is still a great bargain near $700/oz! Gold recently jumped over $700, and is overdue for a price correction -- which is the sure sign of a healthy bull market -- offering yet another opportunity to buy the dips in this ongoing secular bull market." -CNBC Squawk Box

Lord WILLIAM REES-MOGG, Author & Economist
"I expect gold to reach $1,000 an ounce in the foreseeable future. The price of gold is linked to the price of oil and to the movements of the dollar... oil is probably headed towards $100 a barrel. If there is any shooting in Iran, prices will go through the roof. That, however, is one reason for thinking that there may not be any attack on Iran. The world�s oil supply cannot afford it." -Money Week

ROBERT MCEWEN, CEO -- U.S. Gold Corp.
"Gold prices may reach $2,000 an ounce by 2010 on demand for an alternative to currencies. You have much more money than there is gold, and as people see their currencies falling relative to gold, they're going to be saying `Maybe I should have some of this'." -Bloomberg

PHILLIP GOTTHEFF, President/Commodities Analyst -- Equidex Inc.
"The gold market knows inflation is already here ... which helps explain the hysterical surge in prices in 2006... ETFs have expanded the metals market to now include institutional investors... With Goldman Saks forecasting $100+ oil I think we could see $1,000-1,500 gold easily... Why hoard? Because investors are afraid of paper. If we were to try to monetize our paper with gold the price would be in the $10,000/oz. - $20,000/oz. range." -CNBC "$1,000 gold debate" 5-9-06

JOHN PERSON, President -- National Futures Advisory Services
"As more and more investors start allocating more resources in gold, we could see $800 and as high as $1,000 by year's end. All the elements are in place for such a move, and it would not be unrealistic to achieve in a relatively short period of time." -Marketwatch.com

KEVIN KERR, Commentator/Author -- Marketwatch.com
"Golden Opportunity: The case for $1,000 an ounce... If your thing is to hold the actual gold in your hand then numismatics (coins) or bullion are the way to go." -Marketwatch.com

JOHN EMBRY, Chief Investment Strategist -- Sprott Asset Management
"Gold will hit at least $800 per ounce as paper money is going to hell in a handcart. Even a $1,000/oz gold price may be conservative." -MineWeb.com

PIERRE LASSONDE, President -- Newmont Mining Corp.
"The price of bullion may exceed $1,000 (U.S.) an ounce within five to seven years as demand growth driven by Asia outstrips global supply." Globeandmail

BILL MURPHY, Founder -- GATA.org, Lemetropolecafe.com
"What we are seeing is the result of years and years of a gold price suppression scheme BLOWING UP! Gold is moving up because the crooks have lost control! GOLD is going to go to $3,000/oz as more geopolitical problems arise." -GoldRush21

ROSS NORMAN, TheBullionDesk.com
"Yes, I do think we will be in the $700s perhaps late in the second quarter, or perhaps the third quarter of 2006 - the market seems incredibly robust both in terms of external factors like the correlation with the oil market that we�re still underperforming against - if the ratio held with that we�d be at about $1,000 an ounce now. I think it�s gaining strength from the ETFs and more corporate and pension money coming into the market on a regular day by day basis - all this conspires to make one believe that the market has got plenty of strength, that it�s �stronger for longer� as they say." -Thebulliondesk.com

ADAM HAMILTON, CPA -- Zeal Intelligence
"If our current gold rally truly unfolds into a Great Gold Rally, $1000 gold is merely the first stage. A gold bubble, which will probably ultimately happen as a way to climax the coming gold mania maybe five to seven years out, could easily launch gold above $5000 per ounce. The actual top of a new gold bubble at the final pinnacle of another Great Gold Rally could touch $6000+ per ounce!" -Zeallc.com

EMANUEL BALARIE, Senior Market Strategist -- Wisdom Financial
"I think gold prices will eventually shatter even my own bullish expectations of $1,000/oz. If you have not entered the gold market, waiting for an opportune time might be too late. Keep in mind that regardless of what the media is telling you, gold is still cheap at these levels." -CNBC Squawk on the Street

NICK MOORE, Chief Metal Analyst -- ABN Amro
"$1 000 gold is by no means an outrageous forecast. It's a cocktail of positive stimuli for gold, you get the spillover of people buying into commodities, whether its copper, aluminum, soft commodities or precious metals. People are moving there." - Fin24.com

PAUL VAN EEDEN, Managing Partner -- Cranberry Capital LLC
"While my model indicates gold should be fairly valued at $900, there's no reason to believe that gold wouldn't dramatically overshoot that mark. And if 1979 to 1980 is anything to go by, it could exceed several thousand dollars per ounce." -Bloomberg

JON NADLER, Investment Products Analyst -- Kitco
"Gold prices actually started their life at $35 per ounce in the early 1970s. From there, it went to $850-$875 -- a twenty-five-times-over move. Gold began its latest move up at $252, so prices at $6,250 can't be ruled out either, in terms of magnitude of the move." -Marketwatch.com


The list is growing weekly.
Other major analysts bullish on $700-$850 gold:
J.P. Morgan's senior analyst forecast that gold may reach $800 per ounce sometime in 2007.
Goldman Sachs says gold may average $785 an ounce in 2007.
GFMS Ltd., one of the foremost precious metals consultancy, stated investor buying over the last quarter of 2006 "could drive the gold price back through the $700-mark."
Baker Steel Capital Managers stated that gold prices may reach $700 per ounce by the end of 2006 and surpass the record high of $850 high set in January 1980.


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24 Reasons to Own Gold NOW!

1. Gold is still by far the optimal choice for most investors
2. Likely ruptures in the stability of the global-money system
3. $625+ gold prices will eventually peak well above $1,000
4. The most powerful factor affecting gold is monetary inflation
5. 2007 gold supply/demand dynamics: irreversible changes
6. Gold's downside risk is paltry compared to the upside potential
7. Some insiders see gold saving the US dollar as reserve currency
8. Central banks buy gold to diversify reserves away from dollars
9. Portfolios designed to hedge inflation must be bedrocked in gold
10. Shortest commodity bull market is 15 yrs, the longest 23 yrs
11. Gold now accepted as fourth global currency (with $, Eu, Y.)
12. Most bullish of all: the fact this is still a stealth gold bull market
13. Investors should worry less about good/bad gold entry points
14. Commodities now an asset class for the first time in history
15. Gold is coming out of the closet and the press is taking notice
16. Price corrections are a sign of a healthy bull market, buy dips
17. If there is any shooting in Iran, gold/oil will go through the roof
18. Hard currencies (gold) boom as people notice currencies fall
19. Gold market knows inflation already here, explaining 2006 surge
20. More and more investors allocating more resources into gold
21. Gold you hold in your hand: Numismatic coins or bullion best
22. Gold gaining strength from ETFs, corporate and pension money
23. A gold bubble 5-7 years out could launch gold above $5,000/oz.
24. Regardless of what the media says, gold prices are still cheap

Boil it all down to this:
today gold offers unparalleled safety, privacy and profit potential.


Source of the article


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Omnicyclion.org
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OfflineSnaggletooth
Stranger in a Strange Land
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7623086 - 11/11/07 06:45 PM (16 years, 2 months ago)

I've thought about that, buying in gold......but eh,


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OfflineVisionsToReality
RIBBONS


Registered: 09/22/07
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Snaggletooth]
    #7623189 - 11/11/07 07:16 PM (16 years, 2 months ago)

There are also thousands of idiots who claim global warming is a hoax...eek


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Life is one big road with lots of signs,
So when you're ridin' through the ruts,
Don't you complicate your mind.

Flee from hate, mischief and jealousy
Don't bury your thoughts,
Put your vision to reality, yeah!


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Offlineundergrounder
fluffy bunny
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: VisionsToReality]
    #7623328 - 11/11/07 07:55 PM (16 years, 2 months ago)

WTF is with all the gold buying threads Wiccan? Do you own half of Fort Knox and you're trying to drive the price up?


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:igor: RIP :igor:

Bigger and bolder and rougher and tougher in other words sucka there is no other...
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InvisibleDisco Cat
iS A PoiNdexteR

Registered: 09/15/00
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7623341 - 11/11/07 07:58 PM (16 years, 2 months ago)

Will someone please buy me some gold? I'll give you a hug in return.


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OfflineSnaggletooth
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Disco Cat]
    #7623363 - 11/11/07 08:03 PM (16 years, 2 months ago)

Quote:

Disco Cat said:
Will someone please buy me some gold? I'll give you a hug in return.




Does that include a happy ending?  :werd:


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InvisibleCheezit
Feel like aStranger

Registered: 10/19/07
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7623372 - 11/11/07 08:05 PM (16 years, 2 months ago)

fucking christ! 8hundo! fuck!


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InvisibleCheezit
Feel like aStranger

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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7623400 - 11/11/07 08:17 PM (16 years, 2 months ago)

So do you think it would really double your money? Are they looking at the long haul or the short haul? Projecting the trend as it has been what would be the foreseen prices in lets say 5 years? What would stop this trend?

Say you invested 50,000 into gold now at 830 that gives you 60.25 ounces. So if the price goes to 2,000 you then earn 70,500. Not bad but is that the long haul or the short shot?


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InvisibleAsante
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Cheezit]
    #7624733 - 11/12/07 07:39 AM (16 years, 2 months ago)

Quote:

WTF is with all the gold buying threads Wiccan?




It's a simple investment option open to many Shroomerites. I'm seeing dire times ahead for the dollar and the euro, the major currencies we shroomerites use. As far as I see it, savings accounts and many retirement plans are money traps, where your money is being drained off its value while you think you're increasing capital because of the numbers game.

It looks like everything is going south, and that gold and silver offer a good way to safeguard your funds and even increase its value. In a few years EVERYBODY will be buying gold and silver and the price will soar because of it.

In the third world, because of currency instability, investing in gold and silver is the standard way to accumulate wealth, and has been for hundreds of years. This is a custom that's almost forgotten in the first world, and I'm waking y'all up to it again.

I hope I'm wrong but in 5 or 10 years you may curse your dollars and euros, and wished you had heeded this advice.


Quote:

Do you own half of Fort Knox and you're trying to drive the price up?




You guys sold off almost your complete gold reserve. The dollar isn't backed anymore. That's what got us into this mess. And it would be desparately futile for me to be trying to drive the prices up. I'm trying to get y'all on board before the prices go up. I did that back when gold was $600, now it's $830 and a lot of you missed the bus.

Use a bit less drugs, and convert those savings to gold or silver, that's my message. You can get into gold from $200 and up and into silver for $15 and up. If the average pothead here smokes one joint a day less, they'd have a reasonable position in silver AND gold within a year. Many here keep themselves on the border of debt because they keep themselves on a paycheck-to-paycheck basis by spending the remainder of that paycheck on drugs. Many people here who "have no money" burn 100, 200, 300 dollars a month on weed. (I know, I was one myself) Put that in your pipe and smoke it :frown:


Quote:

So do you think it would really double your money?




It could, and I think it will. The average expert quoted in the first post says $2.000 in 5-15 years, so starting today that would be a forecast of gold going up 250% in perhaps a decade.

Quote:

What would stop this trend?




Stabilization of the financial crisis and the bullmarket ending. We probably have 10 years worth of bullmarket left and in that bullmarket there will probably be a goldrush, a bubble that will drive gold up to phenomenal heights.

I think gold will sink a bit before the great rise.


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Invisiblealphabeatu
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7624750 - 11/12/07 07:49 AM (16 years, 2 months ago)

im kind of confused about the fall of the american dollar because i know fort knox is supposed to be huge so even if the american dollar was worth zero they still have all the gold

it seems win win to me

ive been following your precious metal threads and came across some gold myself


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Invisiblebadchad
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: alphabeatu]
    #7624805 - 11/12/07 08:25 AM (16 years, 2 months ago)

As the value of the dollar and euro fall, it's obvious that the price of gold (as measured in dollars and euro's) will rise.

I still invest in stocks for two reasons:

1. As inflation rises, the volume of cash moving throughout a corporation will reflect that. (e.g. as the value of the dollar falls, it will take more dollars to buy a product, and the company will bring in more, absolute, dollars per transaction).

2. Gold is an excellent means to preserve wealth, however, it is just that: A way to preserve wealth (not necessarily create it).

Why do people want gold? because society tells us it's valuable. For some reason, people have arbitrarily decided that yellow shiny metal is "precious". Thus, it's value is subjectively designated. To truly increase in value (after thousands of years) everyone would have to get together and agree "gold is now worth more".

Ask yourself this: "WHY" is gold worth more? It is the same shiny metal it has always been. Nothing has changed.

This is completely different than company that increases it's value because it has developed a newer, more functional product that there is increased demand for.


--------------------
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: alphabeatu]
    #7624874 - 11/12/07 09:05 AM (16 years, 2 months ago)

Quote:

Gold and coin holdings

Gold holdings peaked during World War II at 649.6 million troy ounces (20,205 metric tons). Current holdings are around 147.3 million ounces[1]




147.3 million troz = 122 billion dollars at today's price

122 billion dollars : 303 million Americans = $400 per American

If Fort Knox (actually the US Bullion Depository within Fort Knox) were to mint all their gold and issued it to all American citizens, you each would get a shy half-ounce of gold. That's how little gold there is in Fort Knox. In a survival situation within the USA you could live a month off it. Then all the gold in Fort Knox is spent.
Thats what is left of America's nest egg, of the insurance against a shit hitting the fan scenario. A half-ounce bullion coin, $400 per citizen.

You owe countries like China trillions of dollars. China or Europe could get nasty and demand you to hand over the entire contents of Fort Knox as a downpayment. 122 billion dollars ain't shit in international economics. Bill Gates could call a buddy or two and raise that sum in cash.

Quote:

it seems win win to me




Not in the equasion I made above.


Quote:


ive been following your precious metal threads and came across some gold myself




Congratulations :smile2:


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InvisibleAsante
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: badchad]
    #7624911 - 11/12/07 09:23 AM (16 years, 2 months ago)

Quote:

Why do people want gold? because society tells us it's valuable.




The world community decided that it is precious and stuck with that for six thousand years. It's one of the most consistent entities in economics.

Quote:

For some reason, people have arbitrarily decided that yellow shiny metal is "precious". Thus, it's value is subjectively designated.




As is the value of a horse or a harley, and the straw and gasoline it needs to ride.

Quote:

To truly increase in value (after thousands of years) everyone would have to get together and agree "gold is now worth more".




Have you read what those experts say? We are getting towards that situation.

Quote:

"WHY" is gold worth more? It is the same shiny metal it has always been. Nothing has changed.




EVERYTHING has changed. Raw materials and foods are becoming hugely expensive. Dollars and euros are losing their stability and are on the decline. Gold production becomes lesser and more expensive. The population is vastly increasing and the amount of gold has barely increased. Oil is a few dollars shy of $100 a barrel and a few years ago many assured us it would NEVER hit $60.

Quote:

As inflation rises, the volume of cash moving throughout a corporation will reflect that. (e.g. as the value of the dollar falls, it will take more dollars to buy a product, and the company will bring in more, absolute, dollars per transaction).




A company can't pre-emptively increase their prices. It would cost them their market position. They have to chase inflation. Guess whats last to chase inflation? Your paycheck :eek: (well mebbe not yours but of most here)

Quote:

2. Gold is an excellent means to preserve wealth, however, it is just that: A way to preserve wealth




Preserving wealth is the best most people can do. Unless you're a stocks & bonds deity, savings accounts and the like are out because they yield a lower % than inflation cuts off it. The number of dollars increases, but whet you can buy for that bigger number is smaller.

Quote:

I still invest in stocks




There still is and will be value in stocks, but it would be harder and harder to get it right. There might come a day you too will be buying gold in a rescue effort, but then you might have to brace yourself in your chair, clench your teeth and pay $1.500 an ounce.

I hope you'll make your fortune and secure it before it all comes tumbling down.

I'd rather preserve wealth in a mellow world than make huge profits in a worldwide recession. I don't want the paradise of plenty of the second half of the 20st century we grew up in to come to an end. I don't want a world where you have to be rich to own a car and where everyone else is a slave to debt.
But we might be going there.


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InvisibleCheezit
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: alphabeatu]
    #7624977 - 11/12/07 09:50 AM (16 years, 2 months ago)

Quote:

alphabeatu said:
im kind of confused about the fall of the american dollar because i know fort knox is supposed to be huge so even if the american dollar was worth zero they still have all the gold

it seems win win to me

ive been following your precious metal threads and came across some gold myself




Sounds win win for the people with the gold. Just cuz "we" have gold doesn't mean you or I have shit.


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Offlinerawtoxic
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Cheezit]
    #7624994 - 11/12/07 09:59 AM (16 years, 2 months ago)

wiccan so where do you by $8k of gold at?


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Offlinemoon_glue
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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]
    #7625145 - 11/12/07 10:47 AM (16 years, 2 months ago)

metal prices are shitty today. hope they find a support line soon.


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OfflineShroomnibbler
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: moon_glue]
    #7625170 - 11/12/07 10:58 AM (16 years, 2 months ago)

you guys are fucking behind on everything. I put all my savings in physical gold in middle september, 2001 :-)


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Offlinemoon_glue
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Shroomnibbler]
    #7625178 - 11/12/07 11:02 AM (16 years, 2 months ago)

lol

there might abe a really good buying opportunity comming up, so keep an eye on apmex.com


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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: moon_glue]
    #7625186 - 11/12/07 11:04 AM (16 years, 2 months ago)

screw all that, ill go mine the gold myself :smile:
i spent months and months pouring over ever listed material in my area of study. even references from before the turn of the century, the long lost and forgotten worthess prospects that are now very valuable due to the rise in price

I know where its at, now i just need to go get it :smile:!


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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]
    #7838401 - 01/06/08 07:47 AM (16 years, 26 days ago)

Quote:

rawtoxic said:
wiccan so where do you by $8k of gold at?




I'll probably wait for the next boom to buy gold, when the experts assure us that gold never will be going up again (like they did 10 years ago) but yeah I've always wondered, where does one go to buy and more importantly sell their Krugerrands?


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InvisibleLunarEclipse
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! *DELETED* [Re: koppie]
    #7838689 - 01/06/08 10:18 AM (16 years, 26 days ago)

Post deleted by LunarEclipse

Reason for deletion: n/a



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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: LunarEclipse]
    #7838883 - 01/06/08 11:13 AM (16 years, 26 days ago)

OnlyGold has a 10 ounce minimum order though, places like APMEX and KITCO also have a good reputation.

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.

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.


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Edited by Asante (01/15/08 03:41 AM)


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Invisibleusg543
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7840372 - 01/06/08 04:40 PM (16 years, 26 days ago)

thanks for the info wiccan,

what do you personally buy?

coins, bars, by the ounce, what?


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Offlinep0ng
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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]
    #7840945 - 01/06/08 07:26 PM (16 years, 26 days ago)

just wondering but, who is going to buy your gold if it hits $1,500???


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InvisibleAsante
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: usg543]
    #7841095 - 01/06/08 07:59 PM (16 years, 26 days ago)

Quote:

just wondering but, who is going to buy your gold if it hits $1,500???




Do you think the gold trade will cease when gold eases towards 1.500?

The 1980 price in today's dollars, inflation corrected, is in the order of $2.000 so 1.500 isn't that high.

Quote:

what do you personally buy?

coins, bars, by the ounce, what?




Happy birthday :smile:

As for gold, I prefer 1oz bullion coins. For silver, kilo bars (31.1oz) because I live in (metric) Europe.


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Offlinebodynotdead
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: p0ng]
    #7841104 - 01/06/08 08:01 PM (16 years, 26 days ago)

Gold's appeal is nothing new. Since the dawn of creation, gold has been a store of value, a universal monetary substance, in all civilizations. Gold has united mankind regardless of race, religion or politics.

Gold transcends left-right politics because it's value is based upon ultimate economic truth and substance; rather than symbolic paper wealth, which rests upon a shaky U.S. dollar foundation.

CALL SWISS AMERICA at 800-289-2646, or register to request their free "Gold 101" DVD, and "Rediscovering Gold" book,

Do it its free because money matters
Ha, I think I am going ot like this.


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OfflineBrandon2874
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: bodynotdead]
    #7841790 - 01/06/08 10:45 PM (16 years, 26 days ago)

Gold is at somewhat of a high point right now, not to say that it won't go higher, but be sure to make smart investments and realize the possibility that any investment, including gold can take a downward turn.


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Invisiblekoppie
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7843323 - 01/07/08 12:07 PM (16 years, 25 days ago)

Quote:

Wiccan_Seeker said:

As for gold, I prefer 1oz bullion coins. For silver, kilo bars (31.1oz) because I live in (metric) Europe.




Now I'm imagining Wiccan sitting on a huge stack of silver bars, juggling bullion coins.

Next question:

Don't you need a safe deposit box in a bank to store that stuff? is hiring those expensive?

I suppose you could keep them in a safe in your home, or under your bed or in a biscuit tin on a shelf in your secret lab in the Bat Cave.

Don't answer this if you think it will compromise security. I don't want to be responsible for a crack team of ninjas raiding your sock drawer and getting away with your hidden millions.


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OfflinegeokillsA
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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]
    #7843875 - 01/07/08 02:49 PM (16 years, 25 days ago)

A safe deposit box will be the safest way to store your valuable items, including precious metals. A typical safe deposit box at a big bank here in southern California will cost somewhere between $50 - $120 per year depending on size. I've also noticed that these deposit boxes are in very high demand, and it is often hard to find a local bank with any available!


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InvisibleAsante
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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]
    #7844174 - 01/07/08 03:44 PM (16 years, 25 days ago)

Quote:

Don't you need a safe deposit box in a bank to store that stuff?




You don't have to, but I do.


Quote:

Now I'm imagining Wiccan sitting on a huge stack of silver bars, juggling bullion coins.




I wish. I'm into it deep, but deeply with a small investable sum.

I'm nowhere near rich, please realize that. If some of the above experts are right and a $15 silver Maple becomes a $100 silver Maple and a $850 gold Krug becomes a $2.200 Krug , I'd be a very happy camper though.

Gold and silver seem a good investment for many, but especially for the smalltime investor like myself it's attractive. It's uncomplicated, and remember gold and silver have been valued for thousands of years, while just about every currency and organization that has existed, has crumbled to dust eventually.


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Offlinerawtoxic
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7852469 - 01/09/08 06:01 AM (16 years, 23 days ago)

Fuck that, if all chaos breaks or banks crash I would not want my gold in some banks safe deposit box that will be the first place to looted/robbed.

And all you people buying gold might want some guns to protect it, if all breaks lose GUNS and AMMO will be worth more there weight in gold.


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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]
    #7852779 - 01/09/08 09:33 AM (16 years, 23 days ago)

That is kind of what I was thinking too. I have a shotgun, a .45 , and some .22 .... But if the time ever came, I would love to have an assault rifle.


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Invisibleusg543
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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]
    #7852896 - 01/09/08 10:05 AM (16 years, 23 days ago)

:rofl2:

good thinking rawtoxic, i guess i will buy that gun i wanted.


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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: usg543]
    #7853060 - 01/09/08 10:59 AM (16 years, 23 days ago)

Then again our economy going to sh!t is a more likely scenario then world-war 3, and in that case gold would be better than guns..... unless you plan to rob peoples gold.


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InvisibleIcelander
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: geokills]
    #7864811 - 01/11/08 12:28 PM (16 years, 21 days ago)

Quote:

geokills said:
A safe deposit box will be the safest way to store your valuable items, including precious metals. A typical safe deposit box at a big bank here in southern California will cost somewhere between $50 - $120 per year depending on size. I've also noticed that these deposit boxes are in very high demand, and it is often hard to find a local bank with any available!





I have heard that if a bank fails and closes your safe deposit box may be unavailable to you for a long time?


--------------------
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InvisibleIcelander
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: abesh]
    #7864831 - 01/11/08 12:31 PM (16 years, 21 days ago)

Quote:

abesh said:
That is kind of what I was thinking too. I have a shotgun, a .45 , and some .22 .... But if the time ever came, I would love to have an assault rifle.




Let's take this further. A preserved stock of food (lets say 6 months to a year) and high quality clothing and survival gear (good backpacking gear). There's more of course but you get the idea. In a crunch staying alive and healthy would be your most valuable asset.


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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Icelander]
    #7865272 - 01/11/08 02:20 PM (16 years, 21 days ago)

Yes, and for trading with others (if the whole money system falls flat), I'd stock up on necessities and addictive items (coffee, cigs, candy).


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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]
    #7865409 - 01/11/08 02:51 PM (16 years, 21 days ago)

and nylons :wink:


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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Icelander]
    #7865681 - 01/11/08 04:07 PM (16 years, 21 days ago)

Ugh, one of the few benefits of a total economic collapse would be NOT having to wear nylons!  :tongue:


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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Icelander]
    #7865849 - 01/11/08 04:41 PM (16 years, 21 days ago)

The least one should have (and I mean the very least) is a weeks supply of food and drink for the family.

A months supply would be far better as hyperinflations typically last a few weeks.


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InvisibleVeritas
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7865874 - 01/11/08 04:45 PM (16 years, 21 days ago)

I'd be less worried about hyperinflation than mass panic.  :tongue:  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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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 05:29 PM (16 years, 21 days ago)

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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OfflinePoisonedV
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7880298 - 01/14/08 08:21 PM (16 years, 18 days ago)

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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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 03:54 AM (16 years, 17 days ago)

The answers are higher up in the thread :smile:


Quote:

OnlyGold has a 10 ounce minimum order though, places like APMEX and KITCO also have a good reputation.
.
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.
.
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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OfflinePoisonedV
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7881954 - 01/15/08 07:15 AM (16 years, 17 days ago)

Thanks, I think I will drop by my thriftshops today and see if they have coin exchange type things


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Offlinerawtoxic
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7882031 - 01/15/08 07:39 AM (16 years, 17 days ago)

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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InvisibleAsante
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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 02:29 PM (16 years, 17 days ago)

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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OfflineFuDAPOPE
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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 08:00 PM (16 years, 16 days ago)

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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Invisiblekoppie
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7897650 - 01/18/08 02:32 PM (16 years, 14 days ago)

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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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 06:36 PM (16 years, 14 days ago)

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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Invisiblekoppie
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7909363 - 01/21/08 12:08 PM (16 years, 11 days ago)

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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Invisibleorchidfanatic
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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 04:20 PM (16 years, 10 days ago)

what about gold funds ?


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OfflineStreetFreak
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Re: Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark! [Re: Asante]
    #7998367 - 02/08/08 10:23 PM (15 years, 11 months ago)



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OfflineCaribou_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: Asante]
    #8003948 - 02/10/08 09:16 AM (15 years, 11 months ago)

gold is probably the best thing you could invest in, my grandpa was always crazy about gold stocks and coins


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