Get ready for Gold to ROCKET!

[Mega]

Source tells me a $ Billion was bought in NEW York today?
Mike

[jtabeb]

Re: Get ready for Gold to ROCKET!

Source tells me a $ Billion was bought in NEW York today?
Mike

I like you mega, esp. when you have a story like this that affects 80% of my net-worth in a positive fashion.

I'm ready for a gold moon shot, How 'bout U!!!

P.S. I thought you said there was a gold and silver take-down comming up? ;)

[Sapiens]

Re: Get ready for Gold to ROCKET!

Don't bet on it yet, unless you want a smack-down and are a glutton for pain.

[LargoWinch]

Re: Get ready for Gold to ROCKET!

Crude at $145 and gold at $965...

Hmmm since I think crude will drop back to around $100-110, what will gold do? (It has not followed crude since the beginning of this year)

Is it time to wait in cash?

[tombat1913]

Re: Get ready for Gold to ROCKET!

Crude at $145 and gold at $965...

Hmmm since I think crude will drop back to around $100-110, what will gold do? (It has not followed crude since the beginning of this year)

Is it time to wait in cash?

I could possibly understand perhaps not wanting to be in oil or gold, but why on earth would dollars be a good idea? :confused:
There must be something better!

[Spartacus]

Re: Get ready for Gold to ROCKET!

I could possibly understand perhaps not wanting to be in oil or gold, but why on earth would dollars be a good idea? :confused:
There must be something better!

because Every one has a little bit of cocaine on it?

the $100 note for sure (or so I've heard)

[c1ue]

Re: Get ready for Gold to ROCKET!

Cash isn't necessarily bad for several reasons:

1) As credit dries up, there are plenty of those with lots of assets but no cash
2) Cash is fully flexible - minimum time delay in moving/using it
3) Cash can be off the radar: they can't take what they can't see.

[jtabeb]

Re: Get ready for Gold to ROCKET!

Cash isn't necessarily bad for several reasons:

1) As credit dries up, there are plenty of those with lots of assets but no cash
2) Cash is fully flexible - minimum time delay in moving/using it
3) Cash can be off the radar: they can't take what they can't see.

No, cash is only good to pay for debts that you took out to buy real shit. Only use of cash.

It's not a good idea to hold something when SOMEONE else can remove the ability for it to be used as described above.

It FREAKING SAYS on every damn piece of cash "this note is legal tender to pay all debts public and private".

IT DOES NOT SAY "you have the right to use this to buy food, energy or anything else that is actually useful to you, the holder of this note".

That's ALL you can guarantee it's good for, so use it accordingly.

[Jim Nickerson]

Re: Get ready for Gold to ROCKET!

No, cash is only good to pay for debts that you took out to buy real shit. Only use of cash.

It's not a good idea to hold something when SOMEONE else can remove the ability for it to be used as described above.

It FREAKING SAYS on every damn piece of cash "this note is legal tender to pay all debts public and private".

IT DOES NOT SAY "you have the right to use this to buy food, energy or anything else that is actually useful to you, the holder of this note".

That's ALL you can guarantee it's good for, so use it accordingly.

If I walk up to the checkout counter at Krogers and have a steak, if I wish to walk out of the store with it, I have a debt that I need to pay before leaving and they took cash the last time I was there (actually I shop at Walmart).

[oddlots]

Any Thoughts On This Etf?

A blog I read was suggesting hedging some energy plays with this Exchange Traded Note: DGP

http://tiny.cc/6AWn2

Incidentally, there was a good summary of of the FSE / FNM issues posted there just this weekend:

http://www.statesidereport.com/

Thought the emphasis on the average maturity of the GSE's debt was sobering. Not just borowing short and lending long but average maturity on the ~5 trillion is 3 years. Sort of like the difference between dodging 3 snipers crossing no-man's land and dodging 3 machine gun batteries no?

[c1ue]

Re: Get ready for Gold to ROCKET!

JT,

You should read up on the difference between credit and cash.

There are lots of people with credit - as credit dries up they wind up with only the cash on hand.

If, on the other hand, you have been conserving your cash - even though the purchasing power is dropping, this cash still exists and can still buy SOMETHING.

And you must buy something to survive in modern society - I don't know any subsistence farmers. Do you?

So again to my point: as credit continues to evaporate, there will be opportunities if you have cash to buy something on the cheap.

This is the real reason why the rich get richer: besides the connections, blah blah, fundamentally they always will have the money to buy when things get really cheap.

[jtabeb]

Re: Get ready for Gold to ROCKET!

JT,

You should read up on the difference between credit and cash.

There are lots of people with credit - as credit dries up they wind up with only the cash on hand.

If, on the other hand, you have been conserving your cash - even though the purchasing power is dropping, this cash still exists and can still buy SOMETHING.

And you must buy something to survive in modern society - I don't know any subsistence farmers. Do you?

So again to my point: as credit continues to evaporate, there will be opportunities if you have cash to buy something on the cheap.

This is the real reason why the rich get richer: besides the connections, blah blah, fundamentally they always will have the money to buy when things get really cheap.

There is a difference between cash and coin, too, I've got $5K in us coin (not bullion), zero cash. (Coinage tends to last longer during inflations and go further than paper does)

Hope that helps you guys understand the perspective I'm coming from.

If silver is the poor man's gold, coinage is the the serf's best friend. (I consider myself a serf)

[LargoWinch]

Re: Get ready for Gold to ROCKET!

To sum it up: it burns really really well and when toilet paper get too pricey well...

[LargoWinch]

Re: Get ready for Gold to ROCKET!

jtabeb, what do you mean by "coinage"?

Do you mean "numesmatic" coins? Or simply silver quarters with legal tender?