Gold...........Which way its going?

[ASH]

Re: Gold...........Which way its going?

Remember GLD is not gold but a paper promise that it holds gold (like Bernie M. holding those shares and OEX options for you). If you read the prospectus you will find that in the case of a default by Trustee the shareholder becomes a unsecured creditor. Even if you would get paid eventually it would be in dollars - not in gold.

True, but keep in mind that only gold involved in transactions (either adding to, or subtracting from, the total) is in the unallocated account.

Still, I wouldn't trust GLD if I wanted to hold gold as insurance against turmoil in the financial system.

[audrey_girl]

Re: Gold...........Which way its going?

I don't trust the etfs too. If you can get it, start with bullion. You need to start with the hard stuff. Next, look for overseas accounts, CEF, Turk, Perth, McAlvaney. Finally, and if you are so disposed (and I am going to get hate mail on this one), mining stocks - prefereably overseas (canadian are my favs).

1-2-3 a three legged golden stool.

You want to be as diversified as possible and in as many gold investment vehicles as possible for what is coming.

If there is a Madoff in the above stack, then you won't lose it all in one swift blow. If there is a Madoff in the above stack, then several of the other vehicles should increase in value.

Finally - always remember that a little bit of gold in the future is going to go a very long way.

and where is Gold going? Quite simply - Gold is going to the moon.

[Starving Steve]

Re: Gold...........Which way its going?

I agreed with the remark that Clinton was not so innocent. He helped to repeal the Glass-Stegell Act. This was a major error on Clinton's part and on the part of the Congress in 1999.

Also, Clinton should have replaced Greenspan the moment Clinton took office. The Clinton Administration should have pressed the Fed for tighter money and closer bank regulation.

But these remarks are easy to make now in hindsight. The Fed was hands-off, and a firm believer in supply-side economic policies. Clinton did nothing and just let Sir Alan steer the ship.

[BadJuju]

Re: Gold...........Which way its going?

and where is Gold going? Quite simply - Gold is going to the moon.

Right to the moon, Audrey!

If only your name were Alice. :mad:

[audrey_girl]

Re: Gold...........Which way its going?

Right to the moon, Audrey!

If only your name were Alice. :mad:

LOL

actually got the idea from here:

http://www.youtube.com/goldtothemoon

great youtube site for lots of gold information.



regards

ag

[charliebrown]

Re: Gold...........Which way its going?

I understand that I am taking a risk, I "hope" that i can convert GLD to phyical when and if the time arrives. Also i use GLD as sort of a buffer pool. I can trade it on the ups and downs and move incremental amounts to physical on market dips, availability, low mark-up situataions etc. I might get caught holding the bag if we have a black swan event in the gold, or currency markets.

I agree with Audrey Girl's three legged stool approach. I am watching gold stocks and waiting for an entry point which I do not think has arrived yet.
maybe i'll get caught here too, not being in and having a moon shot upward. I'm not sure how the credit and energy markets effect the profitablity of these companies. mining is a very capital intensive business and if you cant get credit, or oil goes back to $150 a barrel what does this do the profitablity of a mining company?

As with holding au in a foreign account, i am nervous about u.s. law violations, that gold can be confiscated too, or its convertability halted. suppose my money is in australia, and i'm in the u.s. and capital controls freeze the account, then i either have to choose between living the u.s.a with family or living with my money in australia.

holding the bullion has its risk too, i risk fire, or theft if i store it on my property and risk gvt seizing safe deposit boxes etc. like they did in the 30's if i have it stored for me.

When you dont make the rules you live in a dangerous world.

[renewable]

Re: Gold...........Which way its going?

Paper gold loses 2 primary benefits of actually owning gold:
- a disaster hedge
- it is nobody else's liability

It's up to you if the benefits of paper gold outweigh the loss of these two advantages.

On a lighter note: http://rathergood.com/bullion

[rabot10]

Re: Gold...........Which way its going?

Did you guys read the email from EJ?

Road to Ruin: Final stretch

"The rise of gold from $260 to $700 in six years followed by an increase from $700 to $1000 in two years may be quickly followed by a rise from $1,000 to $5,000 in just a few months.

In other words, our forecast of gold at $2,500 and the DOW at 5,000 may be as prosaic as our other seemingly dire forecasts because our perception of the rate of change and extent of the financial system, economic, and political crisis has been too optimistic.

Our primary concern at this stage is no longer our readers' portfolios but their ability to weather a US dollar crisis if one erupts. In response, we are increasing our gold allocation to 30% and moving all Treasury holdings to the very shortest maturities, to three month Treasury bills, until we see indications that conditions are stabilizing. We encourage you to engage with the community to actively discuss strategies that are appropriate for you."

Hope we have a least one year before we see this.

good luck

[BadJuju]

Re: Gold...........Which way its going?

When was that sent?

[Basil]

Re: Gold...........Which way its going?

Did you guys read the email from EJ?

Road to Ruin: Final stretch

"The rise of gold from $260 to $700 in six years followed by an increase from $700 to $1000 in two years may be quickly followed by a rise from $1,000 to $5,000 in just a few months.

In other words, our forecast of gold at $2,500 and the DOW at 5,000 may be as prosaic as our other seemingly dire forecasts because our perception of the rate of change and extent of the financial system, economic, and political crisis has been too optimistic.

Our primary concern at this stage is no longer our readers' portfolios but their ability to weather a US dollar crisis if one erupts. In response, we are increasing our gold allocation to 30% and moving all Treasury holdings to the very shortest maturities, to three month Treasury bills, until we see indications that conditions are stabilizing. We encourage you to engage with the community to actively discuss strategies that are appropriate for you."

Hope we have a least one year before we see this.

good luck

Yes, this is truly astonishing. Considering how cautious, careful and composed EJ and Fred have been, it is alarming that they would now advocate increasing one's PM position, and entertain the possibility that gold will suddenly rocket beyond anyone's expectations. I think we ought to remember previous posts in which EJ has mentioned wealthy people who never would have countenanced gold as an investment contacting him to find out how to purchase gold. This implies that in addition to the expert analysis, they have much better knowledge of current buying trends than do most of us.

The recent adjustments to EJ's analysis, (e.g. buy more gold, and perhaps hyperinflation is possible) is perhaps the most important indicator of what may lie ahead. If also says, forget GLD, DGP, etc., buy the physical and hold it, in your anal cavity if you must.

[charliebrown]

Re: Gold...........Which way its going?

uggh, my stomach hurts. this is too scarry for me, maybe i should allocate 30% to booze. i already have 80% in short treasury, 8% paper pm, 2% stocks, 10% AAA corp bonds of short mat.

[cjppjc]

Re: Gold...........Which way its going?

I don't believe there was any reference to anal cavities.

Btw: Guest on CNBC analyist liked gold said "I would rather short bonds, but that market is fixed." What a comment and nobody said a thing.

[rabot10]

Re: Gold...........Which way its going?

uggh, my stomach hurts. this is too scarry for me, maybe i should allocate 30% to booze. i already have 80% in short treasury, 8% paper pm, 2% stocks, 10% AAA corp bonds of short mat.

LOL I love you charliebrown you made me laugh for real

good luck my friend
rick

[rabot10]

Re: Gold...........Which way its going?

When was that sent?

I got it yesterday BadJuyu.

[BadJuju]

Re: Gold...........Which way its going?

I got it yesterday BadJuyu.

Thank you, sir.