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Old 02-24-2013, 05:53   #109
railfancwb
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Join Date: Sep 2008
Location: Shelbyville, Tennessee TN
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Quote:
Originally Posted by scottz0369 View Post
I bought gold in the 90s when it was cheaper, now I'm selling it to finance durable goods.
I'm a Ramsey fan, I hadn't heard his take, but I agree with it. Now that gold is so high, I'd be reluctant to buy. One thing that strikes me is that there are soooooo many businesses that are now willing to trade their valuable gold for our soon to be worthless dollars. Sort of reminds me of the real-estate market a few years ago.....
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The gold buying businesses are buying "scrap gold" at sub-wholesale, selling at wholesale, taking that cash and buying more... They are in the mining business not the investing business - mining people rather than rocks. If bullion coins are involved they may be more like stock brokers using bid/ask pricing.

Every now and again, one will forget which business he is in and get burned by a sudden drop in the market.


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