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JP Morgan: $2500 Gold In 2011

Discussion in 'Survival/Preparedness Forum' started by humanguerrilla, Aug 9, 2011.

  1. TangoFoxtrot

    TangoFoxtrot OIF 04-05

    4,272
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    Sep 10, 2008
    Nowhereville, USA
    All well in good if you could have bought it low enough.
     


  2. Lone Kimono

    Lone Kimono

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    Jul 15, 2009
    If things fall apart and my neighbor has gold and I have food storage...I'm the richer man. Buy food instead.
     
  3. MikeinCincy

    MikeinCincy

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    Jan 6, 2008
    Cincity
    If it hit $2,500 by year end, that'd be a 42% holding period return. I'd say that's not too shabby for 4.5 months.
     
  4. MikeinCincy

    MikeinCincy

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    Jan 6, 2008
    Cincity
    The two should not be mutually exclusive. Those who buy gold, for the most part, have the means to buy plenty of food too.
     
    Last edited: Aug 23, 2011
  5. Lone Kimono

    Lone Kimono

    881
    1
    Jul 15, 2009
    Oh, you are absolutely correct, but things are getting a bit out of hand. That $2500 will buy a lot of food storage. If I had to choose between buying one coin or 25+ cases of food I know where my money is going. There realistically could come a time when gold is worthless compared to food.
     
  6. cowboy1964

    cowboy1964

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    U.S.A.
    When in the last 5000 years of human history has gold been even close to worthless. Never.

    I bought Gold at $800. Now it's double that. So I can now buy double the food I could have before.

    Hope you never have to bug out. Good luck hauling 3 tons of food.
     
    Last edited: Aug 9, 2011
  7. Braken

    Braken

    251
    8
    Nov 13, 2006
    is Ok
    I am not so sure you can buy double the food today with your gold. When did you buy at $800? Micky D's is $7 for a meal now. A can of soup is $1.88 @ Wally World.
     
  8. Lone Kimono

    Lone Kimono

    881
    1
    Jul 15, 2009
    I live in Utah, doubt there will be a better place to bug out to, but I'm prepared for that as well. To answer your question, if society totally breaks apart and people are starving to death, gold won't be worth anything compared to food and ammo. You can't eat gold and certainly can't protect your family with it.

    It's good to diversify and I'm Glad you doubled your money. You were smart to buy in when you did, but I personally wouldn't buy in at $2500.
     
    Last edited: Aug 10, 2011
  9. poodleshooter1

    poodleshooter1

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    May 3, 2005
    The value has not increased though, which is what some of your just seem to refuse to understand. It's just kept pace with inflation. The purchasing power of your gold is the same as it was when you bought it.:yawn:
     
  10. poodleshooter1

    poodleshooter1

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    May 3, 2005
    Finally someone who get's it!!!:wavey:
     
  11. TangoFoxtrot

    TangoFoxtrot OIF 04-05

    4,272
    80
    Sep 10, 2008
    Nowhereville, USA
    Yes but there is still alot of "ifs" like any other risky investment. Bottom line is if the SHTF and there is a breakdown in society, gold will have the same value as a can of soup. Right now gold is aprox. $1700, tomarrow it could be worthless. It is what it is. I'll keep investing in food , ammo and water stores. You can't eat, drink and protect yourself with gold, unless you trade it in before the SHTF.
     
    Last edited: Aug 12, 2011
  12. Lone Kimono

    Lone Kimono

    881
    1
    Jul 15, 2009
    That's exactly what I was saying. Gold's only value is in that which you can trade it for. If your family is starving and you have a $2500 dollar coin while I have a number 10 can of wheat...the value of wheat just hit $2500. Law of supply and demand.
     
  13. SilverCity

    SilverCity

    443
    0
    Mar 9, 2007
    The Old West
    Don't mean to go there, but as long as we are speculating...

    If we have to resort to barter, the S has HTF, and we will have much more serious things to worry about...like staying alive.

    I doubt folks will be very polite about bartering when they are desperate. I suspect if someone knows you have food and you are not willing to trade your surplus for something of reasonable value, they might kill you for it.

    And yet, after you are fully prepped, what do you do with the rest of your money? Pay off your mortgage, only to watch your house get burned to the ground? I doubt insurance companies will be in business. Leave it in the bank? Brokerage or retirement account? It will most likely be gone or seriously devalued.

    Gold and silver have relevance now and will have a place when/if society returns to some semblance of order.

    SC
     
    Last edited: Aug 18, 2011
  14. pugman

    pugman

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    May 16, 2003
    Wisconsin
    When it comes to gold...I would rather be the store than the person coming in with gold to sell.
     
  15. Big Bird

    Big Bird NRA Life Member

    9,706
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    Aug 7, 2003
    Louisville KY
    Jinx for sure. JP Morgan couldn't predict a good return in anything even if they had a time machine.... Personal experience speaking here...
     
  16. cowboy1964

    cowboy1964

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    $1900 to $2500 in 5 months isn't a good enough profit for ya?
     
  17. cowboy1964

    cowboy1964

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    U.S.A.
    Quit thinking in terms of dollars. Dollars will be worthless. Then the price of gold, silver, wheat, ammo, water, etc will be $infinity.

    If a can of wheat is worth 1 oz of gold, so be it. 99% of the sheeple out there don't have any gold at all so I guess they will starve. The ones who were smart enough to be prepared, including making gold and silver part of their preps, won't.
     
    Last edited: Aug 23, 2011
  18. wjv

    wjv

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    Pacific NW
    Why are you assuming that he only can afford one coin?

    Many people have a year+ worth of food, and far more than "one coin". .