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InvisibleAroundtheSon
Learning to See
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Registered: 01/11/07
Posts: 4,427
Loc: Midwest.
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Ego Death]
    #8671530 - 07/23/08 12:13 PM (15 years, 8 months ago)

Gold on the way down??

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InvisibleAsante
Omnicyclion prophet
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Registered: 02/06/02
Posts: 87,295
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Ego Death]
    #8671661 - 07/23/08 12:41 PM (15 years, 8 months ago)

Quote:

I'm looking at this site and its got "buy" "sell" buttons but how long before you sell it when you click sell and once you click sell do you have to sell?





I don't know what kind of crazy website that is :grin:

The typical site quotes you a price for a product, you then call them to get a last-minute quote, then you "fix the price" for your transaction ("put me down for five krugerrands for 2.475 pound") so further price swings won't affect your "fixed" price, you pay by credit card or similar and they courier it to you. The good ones ALWAYS ship insured, so they can resend free of charge if your parcel gets lost.

Many of these sites also buy back. The same transaction basically, the other way around. Call to make an offer and fix the price they'll give you, then send it to them insured and on inspection of the goods they will bank you the money. Alternatively you can sell on places like eBay.

Quote:

It sounds like it would be a simple earner to just buy it when its worth 400 and then sell it on the day it goes up to 600?




Its as simple as that!

Here are some prices in US dollars. Amount of gold is 1 troy ounce, which is your krugerrand coin.



Lets idealize the scenario :smile:

On January 1 you spend $8.500 and buy 10 Krugs
Mid-February you sell them and collect $10.200 for them.
End April you buy back at $850 and now you have 12 Krugs.

This of course is an idealized scenario. Nobody knows where gold will go. Don't buy gold if you do not plan to hold it for several years.

Buy --hold--> Sell

All you have to do is keep tabs on the gold price and buy and sell at the right time, simplistically put.

What if the Krug you bought for 500 pound rises to 1000 pounds? Easy money. I can be dead wrong but I believe this will happen at or before 2015. I'm probably going to unload some at 600 pound, but then again I was already buying when they were 350 pound :naughty:


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Omnicyclion.org
higher knowledge starts here

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OfflineOverclock22
Here, There andBack Again
Male


Registered: 09/19/07
Posts: 208
Loc: NY
Last seen: 13 years, 3 months
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Asante]
    #8672024 - 07/23/08 02:03 PM (15 years, 8 months ago)

This thread needs this.




http://www.europac.net/

I would recommend these guys if you want an alternative to investing in the american market. They also deal in gold and silver.


--------------------
He did not laugh as his eyes stopped in awareness of the earth around him. His face was like a law of nature-a thing one could not question, alter or implore. It had high cheekbones over gaunt, hollow cheeks; gray eyes, cold and steady; a contemptuous mouth, shut tight, the mouth of an executioner or a saint.

If you wake up at a different time in a different place, can you wake up a different person?

Cf. A.C. Doyle "I'll rise above this, you can't keep me down, for I am Divine, and I know it all too well."

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InvisibleEgo Death
Justadropofwaterinanendlesssea
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Registered: 04/27/03
Posts: 10,447
Loc: The War Machine
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Asante]
    #8672179 - 07/23/08 02:42 PM (15 years, 8 months ago)

Interesting stuff,
I'm gonna find me a gold dealer :grin:

Whats a good site to check the price of gold on and get some graphs for the past few years?

We should list some good sites for good gold dealers too, its an open market so it won't make any difference to anyone.  Help these shroomerites start investing!  :grin:  Especially the americans, as there moneys is getting worthless.

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Invisiblememes
Blessed


Folding@home Statistics
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Overclock22]
    #8672378 - 07/23/08 03:30 PM (15 years, 8 months ago)

Quote:

Overclock22 said:
This thread needs this.




http://www.europac.net/
.





i farted in his chair.  literally.

oh - and in relation to the thread, i doubt hyperinflation will be realized in this nation.  There are far too many examples of irresonsible monetary practices by countries in the past (see also, Germany) for us to follow suit and expect it not to happen.  the Fed is smarter than that (i hope)

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OfflineOverclock22
Here, There andBack Again
Male


Registered: 09/19/07
Posts: 208
Loc: NY
Last seen: 13 years, 3 months
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Ego Death]
    #8672498 - 07/23/08 03:50 PM (15 years, 8 months ago)

I salute you for laying poo gas down on his chair.


--------------------
He did not laugh as his eyes stopped in awareness of the earth around him. His face was like a law of nature-a thing one could not question, alter or implore. It had high cheekbones over gaunt, hollow cheeks; gray eyes, cold and steady; a contemptuous mouth, shut tight, the mouth of an executioner or a saint.

If you wake up at a different time in a different place, can you wake up a different person?

Cf. A.C. Doyle "I'll rise above this, you can't keep me down, for I am Divine, and I know it all too well."

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Offlinefapjack
Title
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Registered: 07/26/07
Posts: 16,574
Loc: Central New Jersey
Last seen: 4 years, 14 days
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: Ego Death]
    #8673449 - 07/23/08 07:54 PM (15 years, 8 months ago)



--------------------

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Invisiblezorbman
blarrr
Male

Registered: 06/04/04
Posts: 5,952
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: memes]
    #8676852 - 07/24/08 03:37 PM (15 years, 8 months ago)

Quote:

There are far too many examples of irresonsible monetary practices by countries in the past (see also, Germany) for us to follow suit and expect it not to happen.  the Fed is smarter than that (i hope)




Famous last words.

This time it's different.


--------------------
“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch

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Offlinezouden
Neuroscientist
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Registered: 11/12/07
Posts: 7,091
Loc: Australia
Last seen: 14 years, 5 months
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: zorbman]
    #8676998 - 07/24/08 04:16 PM (15 years, 8 months ago)

Quote:

zorbman said:
Famous last words.

This time it's different.




When was the last time we had a great depression? When the economy crashes (which it did in the 70's, in 1987, in 2000, and now in 2008) it doesn't create widespread suffering like it used to. It is different.


--------------------
I know... that just the smallest
                                                part of the world belongs to me
You know... I'm not a blind man
                                                    but truth is the hardest thing to see

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Invisiblezorbman
blarrr
Male

Registered: 06/04/04
Posts: 5,952
Re: A Crash Course on the REAL economy, and the real problems we face now and in the immediate futur [Re: zouden]
    #8677944 - 07/24/08 09:08 PM (15 years, 8 months ago)

Quote:

zouden said:
Quote:

zorbman said:
Famous last words.

This time it's different.




When was the last time we had a great depression? When the economy crashes (which it did in the 70's, in 1987, in 2000, and now in 2008) it doesn't create widespread suffering like it used to. It is different.




I wouldn't call those crashes. As you said they didn't create widespread suffering. Except the one in the late 70's and early 80's was pretty severe with extremely high unemployment and inflation. Yet I still wouldn't call it a "crash" by any means.

And if you are calling the stock market correction of 1987 a "crash" then we have hugely different ideas about what constitutes a crash. The correction of 1987 didn't even bring about a recession and proved to be just a speed bump on the way to greater prosperity in the nineties.


--------------------
“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch

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