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$55,000 Gold...How it happens

Discussion in 'The Okie Corral' started by Glocksanity, Aug 29, 2013.

  1. Ian Moone

    Ian Moone

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    Glocksanity's true identity finally struck me ...

    [​IMG]
     
  2. Glotin

    Glotin

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    No, only an idiot would buy and hold only gold and silver, in the belief that they will magically and arbitrarily be "repriced" at some ridiculous level.

    Commodities look like they're going into a long term bear market. Which isn't surprising given the incredible bull market which started in the early nineties and topped in 2011. If the CCI breaks support at 500 you can bet on a long term bear market.
     

  3. wct097

    wct097

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    http://fofoa.blogspot.com/2008/09/freegold.html

    If you're going to evangelize a theory and expect credibility in the slightest, the basis of the theory should be well documented and explained.

    Do any of your posts expand on those three sentences, or is the reader expected to simply take it as a fact?
     
    Last edited: Oct 29, 2013
  4. Glocksanity

    Glocksanity

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    I couldn't care less about credibility. I don't want it or expect it. I only offer a suggestion about where the price of gold is going.

    Do your own due diligence if you are interested. If not, carry on. I have provided links for further reading and study. A word to the wise is sufficient.
     
  5. Glocksanity

    Glocksanity

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    I am not talking about one country having their currency collapse, I am talking about a restructuring of the world's reserve currency, which happens to be the US dollar.

    When the US dollar is fully abandoned as the world reserve currency, it will collapse in value. Gold will replace it at a much higher price, around $55,000.

    Pretty simple concept you don't seem to have mastered. Agree with it or not, you don't seem to understand the basic premise of what I am talking about.

    Carry on though. You will be sitting at the head of the crow eating table when the time comes.
     
  6. Jonesee

    Jonesee

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    Translation:
    "I can't cite a reputable source"
     
  7. Restless28

    Restless28

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    I picture you in some crazy purple robe, sleeping in bunk beds waiting for your mythical $55,000 gold.:rofl:
     
  8. Jonesee

    Jonesee

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    Let's look at some real YTD returns.
    Gold has lost 19.3% YTD
    The S&P has gained 21.32%

    Those that remained invested in gold have a real loss of $193 for every $1000 invested and missed a real return in the market equivalent to $213 for the same $1000 invested.

    Glocksanity has an opportunity loss of 40.6% through a mere 10 months.

    Still, he will stand and scream his advice from the rooftops.
     
    Last edited: Oct 29, 2013
  9. NeverMore1701

    NeverMore1701 Fear no Evil Platinum Member

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    He'll be along shortly to remind you how much smarter than the rest of us he is.
     
  10. OGW

    OGW NRA, SAF

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    You guys can laugh at the OP if you want, but we're all going to be paupers, burning our dollar bills for heat, while he sits on millions of dollars worth of gold in 2020. Cough.
     
  11. NeverMore1701

    NeverMore1701 Fear no Evil Platinum Member

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    Just ask him, he'll tell you!
     
  12. OGW

    OGW NRA, SAF

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    He already has. Pay attention!
     
  13. Z71bill

    Z71bill

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    There is a middle ground position on PM.

    If a person has significant net worth - define it how ever you choose.

    Having a % of your assets in gold & silver is not a bad thing.

    I will say 2% - 7.5% is not an unreasonable range.


    Besides gold & silver coins are sort of cool. :cool:


    I think Goldmart.com has the best prices right now - but most are within a few $ -

    Not saying I think gold with magically reset to $55K - but you have to admit - governments and central banks are going crazy.

    I am starting to doubt they will be able to stop the money printing and deficit spending - until the market forces them to and that is going to be harsh on anyone with financial assets.

    Could also impact PM as they will also be sold when the margin calls come flooding in on stocks and bonds. :dunno:
     
  14. Glocksanity

    Glocksanity

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    Not necessarily smarter, but wiser for sure.:embarassed:
     
  15. Glocksanity

    Glocksanity

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    And here comes Jonesee, cherry picking dates to prove a point.:rofl::rofl::rofl:

    The wise man would see this a great time to buy gold on sale. You see it as a loss. Joke's on you but you don't know it.
     
  16. Glotin

    Glotin

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    I don't disagree with this.

    Cherry picking?

    Equities have outperformed PMs over literally hundreds of years. The only current time period PMs have outperformed equities is maybe the last 10 year period. If you look at any other period: 1 year, 5 year, 15 year, 20 year, etc. Equities provide a better return. Over longer periods of time, equities provide a much, much higher return.
     
  17. Glocksanity

    Glocksanity

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    Gold is money, not an investment. For the last 40 years or so, the paper gold market wants you to believe gold is an investment, but it is really money.

    That is why its price will be reset to great heights and that is why central banks hold it. It is the ultimate vehicle for saving because there is no counter party risk. Gold cannot default.

    You will find this out soon enough...and then you will weep if you do not hold it. Stock up on Kleenex.
     
  18. Jonesee

    Jonesee

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    Gold is a commodity.
    Gold is traded on the commodity markets.
    Gold is not a currency (or "money" as you call it)
    It is not traded on the currency markets.

    Gold is an investment.
    Most often used as a hedge in larger portfolios.
     
    Last edited: Oct 30, 2013
  19. Atlas

    Atlas transmogrifier

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    Not money nor currency?
    Can you expand on that please?

    Does trading on "the currency markets" define currency?


    Mirriam Webster_________________________
    cur·ren·cy noun \ˈkər-ən(t)-sē, ˈkə-rən(t)-\
    : the money that a country uses
    : a specific kind of money
    : something that is used as money
    : the quality or state of being used or accepted by many people



    mon·ey noun, often attributive \ˈmə-nē\
    : something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work
    : a person's wealth
     
    Last edited: Oct 30, 2013
  20. Jonesee

    Jonesee

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    Glocksanity reminds me of the late comedian Andy Kaufman.

    Seriously, follow me on this.
    Kaufman would indulge himself in elaborate comedic ruses that he carried on for great lengths of time.

    The public never really knew if he was serious or not. And, he wouldn't admit that it was all self indulgent performance art.

    Was Kaufman a comedic genius or a self indulgent buffoon?