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#1
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OT... Gold
Now both of our economies are going to hell on a handcart is now the
time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? |
#2
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OT... Gold
On Jul 20, 3:45*am, harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? all bubbles burst. as to gold if the world economy continues its downward implosion, with congress helping here the bottom may drop out of everything. people will still need to eat its sad watching our congress play games while they can crash the worlds economy. every congressman should turn in their resignation for playing these games |
#3
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OT... Gold
harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy gold options to sell them short in 2 years. Catch it on the up and down. |
#4
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OT... Gold
bob haller wrote:
every congressman should turn in their resignation for playing these games +1 |
#5
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OT... Gold
On 7/20/2011 6:50 AM, bob haller wrote:
On Jul 20, 3:45 am, wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? all bubbles burst. as to gold if the world economy continues its downward implosion, with congress helping here the bottom may drop out of everything. people will still need to eat its sad watching our congress play games while they can crash the worlds economy. Why would that be? Aside from the drama everything I read says the government can spend what it could before it just can't spend more. Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. And if you were sensible and you really wanted to go on the extravagant vacation you might decide for example that you really don't need that new car every congressman should turn in their resignation for playing these games Why? Some of us explicitly fired out old Congressmen because we were tired of out of control spending. |
#6
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OT... Gold
On Jul 20, 3:45*am, harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I suggest buying silver coins. You can buy old U.S. real silver coins at a local coin dealer in bulk. Very useful for buying food and supplies when paper money is worthless, as happened in Germany after WWI and Zimbabwe more recently. Or you can buy bullion coins, e.g., American Eagles or Canadian Maple Leaves, or silver ingots. If you like, you can buy gold coins as an investment or buy shares of GLD. |
#7
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OT... Gold
George wrote in :
On 7/20/2011 6:50 AM, bob haller wrote: On Jul 20, 3:45 am, wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? all bubbles burst. as to gold if the world economy continues its downward implosion, with congress helping here the bottom may drop out of everything. people will still need to eat its sad watching our congress play games while they can crash the worlds economy. Why would that be? Aside from the drama everything I read says the government can spend what it could before it just can't spend more. Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. And if you were sensible and you really wanted to go on the extravagant vacation you might decide for example that you really don't need that new car every congressman should turn in their resignation for playing these games Why? Some of us explicitly fired out old Congressmen because we were tired of out of control spending. Things are starting to cost more and more. It's called inflation, and you will be experiencing more, soon. As far as out of control spending, every congresscritter will want to bring home more funds for his/her constituents. As long as there is no limit on that, why should Medicaid (example) recipients suffer? Let the congresscritters first spend less on themselves and their staffs. -- Best regards Han email address is invalid |
#8
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OT... Gold
On Jul 20, 3:45*am, harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I have some. I'm keeping but not buying. Many years ago, when I gave my wife a gold coin as an anniversary gift, I watched the price languish and even go down for many years. It may go higher but with the current rapid rise, you'd be taking a chance that you are on a roller coaster. As for real estate, they are saying it might take a decade to recover. I don't think I'd invest in it. I would say, if you need/want something, you might as well buy it now as the potential for hyper inflation is there. It has been absolutely outrageous viewing the inflation rate that the US government gives out. In the index they include housing but not commodities. |
#9
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OT... Gold
"harry" wrote in message
... Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? In the immediate future, buy silver It has recently dropped in price far more than it should have. As to the longer term. Land, particularly farmland is now appreciating like crazy. A property 10-50 acres of arable land is still relatively cheap to buy and gives you the added benefit that you can probably grow enough to feed your family, if the crunch ever gets really bad. |
#10
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OT... Gold
harry wrote in news:4feaebad-b049-4be0-9e62-
: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? I have two cats. Probably not good for investment purposes. Just came from vet. -$77. |
#11
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OT... Gold
On Jul 20, 2:45*am, harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I've heard some folks are going to the bank and buying rolls and rolls of nickels. I'm not sure why that would be a good thing to do but it is going on. -C- |
#12
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OT... Gold
"D.A. Tsenuf" wrote in message .. . "harry" wrote in message ... Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? In the immediate future, buy silver It has recently dropped in price far more than it should have. As to the longer term. Land, particularly farmland is now appreciating like crazy. A property 10-50 acres of arable land is still relatively cheap to buy and gives you the added benefit that you can probably grow enough to feed your family, if the crunch ever gets really bad. IF water rights are available. ww |
#13
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OT... Gold
On Jul 20, 11:38*am, Country wrote:
On Jul 20, 2:45*am, harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I've heard some folks are going to the bank and buying rolls and rolls of nickels. I'm not sure why that would be a good thing to do but it is going on. -C- From Wikipedia: As of 10 April 2011, the value of metal in a nickel is approximately 7.1 cents at current spot prices for constituent metals, a 40%+ premium over face value. It is illegal to melt or export nickles but in case of a paper money crash, the metal will have some value. |
#14
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OT... Gold
"George" wrote in message ... Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. What that overlooks is that this allegorical family is already deep in debt and if they don't make their mortgage payments the bank is going to foreclose on their house and they'll be on the street, in other words not paying money they already owe is not an option. So aside from cutting spending wherever reasonable they also need to bring in more money if they are ever going to get out of debt. For the family that means somebody might need to get a part-time job, for Congress it means they need to increase tax revenues if only by closing loopholes that some very well off folks (and companies) use to avoid paying taxes. Nobody likes the idea of paying more taxes, but the national debt is not going to be paid down just with spending cuts (although clearly deep cuts are needed). When Ronald Reagan became Governor of California he moved to correct the state's finances in two ways--cutting spending *and* increasing tax revenues. It is striking that today's Republicans refuse to consider the second half of that formula. |
#15
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OT... Gold
In article , "dadiOH"
wrote: Personally, I wouldn't touch gold (or silver) with a three meter stick. Yes, they may go up more but they appear poised for a very large correction (both short and long term) and unless you are an experienced AND successful day trader you would likely get beaten to pieces. I'm talking about commodity markets here, not physical ownership. I wouldn't even buy the metal now to hold. Never have understood why people buy would buy a mutual fund (or heck even bars of gold) if the underlying premise is financial armageddon. If things collapse, what makes you think you are going to be able to convert a paper (allegedly) backed by gold into actual gold? Actually the same with bars since you will have to do something to break them down into usable amounts (Hey, Bob, you got change for a ingot?). The only thing to actually own for the financial end times would be to own coins or small (maybe ounce) ingots. IMO, real estate is the bargain of the century. HUGE buyer's market and low interest rates. Yes, prices may go lower and yes, it may take a few years to really recover but it WILL recover and during the waiting period one can at least get the benefit of rental income, tax benefits, etc. You can't get any income or benefits from metal. I am not as sanguine on the return of the market. The demographics were arguing against a long-term bull market in real estate and all the collapse did was hasten the demise. There would have been a big overhang of housing develop over the next few years anyway as the Boomers began to downsize and/or die out. The follow-on generations just aren't big enough to soak up all of the housing the Boomers demanded. This is obviously exacerbated by the excess supply brought about by people getting into homes that wouldn't have in teh past. -- People thought cybersex was a safe alternative, until patients started presenting with sexually acquired carpal tunnel syndrome.-Howard Berkowitz |
#16
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OT... Gold
In article ,
"DGDevin" wrote: Nobody likes the idea of paying more taxes, but the national debt is not going to be paid down just with spending cuts (although clearly deep cuts are needed). When Ronald Reagan became Governor of California he moved to correct the state's finances in two ways--cutting spending *and* increasing tax revenues. It is striking that today's Republicans refuse to consider the second half of that formula. Not at all. Under Bush 41 and RR, the Dems in Congress got their tax increase but, if you look at the actual figures, there was no year-over-year decrease in the growth in spending let alone a decrease in actual spending. (at least according to the Stat Abstract). Fool me once shame on you... or maybe the proper response is Whoian-- "won't get fooled again." -- People thought cybersex was a safe alternative, until patients started presenting with sexually acquired carpal tunnel syndrome.-Howard Berkowitz |
#17
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OT... Gold
On Jul 20, 9:18*am, George wrote:
Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. Unfortunately, it's a little more complicated. Our "family" (the U.S. Govt.) has already borrowed that $20,000 and spent it. Now the credit card bills are coming due and the only way to pay them (as we've done for a long time) is to borrow MORE money. In the end, the debt ceiling will be raised a little (at least temporarily), taxes will probably be raised a bit and spending will be cut a bit, and everyone will get to claim that they helped avert the meltdown that the other party almost caused. And the person who suggested that politicians shouldn't play games with the future of the country must be new to the planet... |
#18
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OT... Gold
bob haller wrote the following:
On Jul 20, 3:45 am, harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? all bubbles burst. as to gold if the world economy continues its downward implosion, with congress helping here the bottom may drop out of everything. people will still need to eat its sad watching our congress play games while they can crash the worlds economy. every congressman should turn in their resignation for playing these games Gold is currently $1602.40 (US) per ounce. An all time high. -- Bill In Hamptonburgh, NY In the original Orange County. Est. 1683 To email, remove the double zeroes after @ |
#19
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OT... Gold
On Wed, 20 Jul 2011 00:45:28 -0700 (PDT), harry
wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? Gold hit $1600 per ounce in the last week. Given that, selling one ounce would buy you two excellent quality firearms. Or one gun and light / laser beam light attachment. Call it an investment. For buying land, be sure to get all improvements (power, water, etc.). A house on the land is great. Guns are an investment. " They don't make any more land." As my bride reminds me. All I know is when the dollar goes down then gold goes up. |
#20
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OT... Gold
"Kurt Ullman" wrote in message m... Nobody likes the idea of paying more taxes, but the national debt is not going to be paid down just with spending cuts (although clearly deep cuts are needed). When Ronald Reagan became Governor of California he moved to correct the state's finances in two ways--cutting spending *and* increasing tax revenues. It is striking that today's Republicans refuse to consider the second half of that formula. Not at all. So various leaders of the Republican Party saying over and over that tax increases are just not on the table doesn't count as them refusing to consider increases in revenue as Gov. Reagan did? Under Bush 41 and RR, the Dems in Congress got their tax increase but, if you look at the actual figures, there was no year-over-year decrease in the growth in spending let alone a decrease in actual spending. Maybe because the budgets proposed by Reagan involved massive spending increases (Reagan's budgets grew by almost $400 billion a year over his presidency). I know, you want to blame this on the Dems in Congress. But as I said before, if you can demonstrate that the spending authorized by Congress was consistently much greater than the spending requested by the Reagan White House, cool, I'd love to see the documentation for that. Congress did spend more than Reagan requested in seven of his eight years in the White House, but the average over his two terms was about two point eight percent and it is not credible that the national debt tripled during the Reagan administration because the Dems in Congress outspent the White House by less than three percent. Apparently Reagan was really bothered by deficit spending, it went against his grain. But guess what, he did it anyway, and his budgets get laid at his door, not that of Congress. (at least according to the Stat Abstract). Fool me once shame on you... or maybe the proper response is Whoian-- "won't get fooled again." As I thought I made clear, both spending cuts and increases in revenue will be needed to pay down the debt. Since the Repubs can block spending in the House if the Dems try to sneak through increases or even try to maintain current levels, refusing to increase the debt ceiling (as they did repeatedly during the Bush administration) looks more like political theatre than anything else. Cantor and his crew just killed a four trillion dollar cut which Boehner apparently was happy with. Of course a default will mess up the economy so much that increasing the debt ceiling will seem mild in comparison. |
#21
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OT... Gold
"Oren" wrote in message ... On Wed, 20 Jul 2011 00:45:28 -0700 (PDT), harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? Gold hit $1600 per ounce in the last week. Given that, selling one ounce would buy you two excellent quality firearms. Or one gun and light / laser beam light attachment. Call it an investment. For buying land, be sure to get all improvements (power, water, etc.). A house on the land is great. Guns are an investment. " They don't make any more land." As my bride reminds me. Bet you have a closet full of duct tape & visqueen too! |
#22
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OT... Gold
"Country" wrote in message
... I've heard some folks are going to the bank and buying rolls and rolls of nickels. I'm not sure why that would be a good thing to do but it is going on. In most places it is illegal to carry a knuckleduster or similar weapon, but perfectly OK to carry a roll of nickels (or two, one for each fist.) -- Don Phillipson Carlsbad Springs (Ottawa, Canada) |
#23
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OT... Gold
"WW" wrote in message
... "D.A. Tsenuf" wrote in message .. . "harry" wrote in message ... Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? In the immediate future, buy silver It has recently dropped in price far more than it should have. As to the longer term. Land, particularly farmland is now appreciating like crazy. A property 10-50 acres of arable land is still relatively cheap to buy and gives you the added benefit that you can probably grow enough to feed your family, if the crunch ever gets really bad. IF water rights are available. ww If there is a crunch, water rights as the currently exist in the west will be moot. |
#24
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OT... Gold
On Wed, 20 Jul 2011 17:15:36 -0400, "David1950"
wrote: "Oren" wrote in message .. . On Wed, 20 Jul 2011 00:45:28 -0700 (PDT), harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? Gold hit $1600 per ounce in the last week. Given that, selling one ounce would buy you two excellent quality firearms. Or one gun and light / laser beam light attachment. Call it an investment. For buying land, be sure to get all improvements (power, water, etc.). A house on the land is great. Guns are an investment. " They don't make any more land." As my bride reminds me. Bet you have a closet full of duct tape & visqueen too! Correct! Except... In my locality I have no need for "visqueen". Don't insult duct tape, please. |
#25
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OT... Gold
On Wed, 20 Jul 2011 09:18:13 -0400, George wrote:
On 7/20/2011 6:50 AM, bob haller wrote: On Jul 20, 3:45 am, wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? all bubbles burst. as to gold if the world economy continues its downward implosion, with congress helping here the bottom may drop out of everything. people will still need to eat its sad watching our congress play games while they can crash the worlds economy. Why would that be? Aside from the drama everything I read says the government can spend what it could before it just can't spend more. No, it can only spend 60% of what it spent before. Currently, they're spending $1.75 for every $1.00 brought in. After their credit card gets cut up they can only spend $1.00. There is still enough to pay the interest on the card and SS, and some, but somethings can't be paid. A lot of those things shouldn't be anyway, but that's a different discussion. Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). No, the "debt ceiling" would be like you only have a $20,000 credit card maximum. *NOT* $20,000 per year. You've just spent $19,995 and have only have $5 more to borrow, and you have an order in the mail that'll be here in August. So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. No. And if you were sensible and you really wanted to go on the extravagant vacation you might decide for example that you really don't need that new car every congressman should turn in their resignation for playing these games Why? Some of us explicitly fired out old Congressmen because we were tired of out of control spending. Yes. |
#26
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OT... Gold
On Wed, 20 Jul 2011 11:34:31 -0700 (PDT), Larry Fishel
wrote: On Jul 20, 9:18*am, George wrote: Simple analogy. You and your family decide to have a budget and you agree to never borrow more than say $20,000/year (the "debt ceiling"). So now this year one of your family members wants to go on an extravagant vacation which would require that you borrow an additional $5,000. If you adhere to your originally agreed borrowing limit you can still feed and clothe yourselves and go on as usual only no extravagant vacation. Unfortunately, it's a little more complicated. Our "family" (the U.S. Govt.) has already borrowed that $20,000 and spent it. Now the credit card bills are coming due and the only way to pay them (as we've done for a long time) is to borrow MORE money. Not true. There is money to pay the minimum. It requires that we don't hire another baby sitter, though. In the end, the debt ceiling will be raised a little (at least temporarily), taxes will probably be raised a bit and spending will be cut a bit, and everyone will get to claim that they helped avert the meltdown that the other party almost caused. ....and the economy will degrade further. And the person who suggested that politicians shouldn't play games with the future of the country must be new to the planet... |
#27
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OT... Gold
On Wed, 20 Jul 2011 06:46:46 -0700 (PDT), Pavel314 wrote:
On Jul 20, 3:45*am, harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I suggest buying silver coins. You can buy old U.S. real silver coins at a local coin dealer in bulk. Very useful for buying food and supplies when paper money is worthless, as happened in Germany after WWI and Zimbabwe more recently. Or you can buy bullion coins, e.g., American Eagles or Canadian Maple Leaves, or silver ingots. If you like, you can buy gold coins as an investment or buy shares of GLD. A better plan is to buy food now. Bullets and guns are also good investments. |
#28
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OT... Gold
On Wed, 20 Jul 2011 15:31:20 GMT, Red Green wrote:
harry wrote in news:4feaebad-b049-4be0-9e62- : Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? I have two cats. Probably not good for investment purposes. Just came from vet. -$77. Cats, probably not. Perhaps a whorehouse? ;-) |
#29
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OT... Gold
On Jul 20, 5:17*pm, Pavel314 wrote:
On Jul 20, 11:38*am, Country wrote: On Jul 20, 2:45*am, harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? I've heard some folks are going to the bank and buying rolls and rolls of nickels. I'm not sure why that would be a good thing to do but it is going on. -C- From Wikipedia: As of 10 April 2011, the value of metal in a nickel is approximately 7.1 cents at current spot prices for constituent metals, a 40%+ premium over face value. It is illegal to melt or export nickles but in case of a paper money crash, the metal will have some value. Surely "nickels" aren't actually made of nickel? |
#30
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OT... Gold
On Jul 20, 6:03*pm, "dadiOH" wrote:
harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? *If you do, what do you do with the readies? *($). Buy houses? Personally, I wouldn't touch gold (or silver) with a three meter stick. Yes, they may go up more but they appear poised for a very large correction (both short and long term) and unless you are an experienced AND successful day trader you would likely get beaten to pieces. *I'm talking about commodity markets here, not physical ownership. *I wouldn't even buy the metal now to hold. IMO, real estate is the bargain of the century. *HUGE buyer's market and low interest rates. *Yes, prices may go lower and yes, it may take a few years to really recover but it WILL recover and during the waiting period one can at least get the benefit of rental income, tax benefits, etc. *You can't get any income or benefits from metal. Ask yourself what sort of ROI you could get on real estate then ask yourself what would give you a better one. For rental maybe? |
#31
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OT... Gold
harry wrote:
Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? Gold is a touch stone with reality, supposed to indicate the true value of things. Sometimes it takes a while to get back touch, sometimes it's a bit to high, sometimes to low. Gold is taxed as a collectible by the IRS, silver isn't. So you take the world's situation, it's not the just the USofA that is having problems and ya puts ur nickel down and youse takes ur chances. Me? I'm shorting fixed income (bonds and treasures) shorting the bubbles pays off better than a broken slot machine.... And a bag or two of junk silver, the used to be door stops that will buy a new car now. |
#32
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OT... Gold
On Jul 22, 12:10*am, "
wrote: On Thu, 21 Jul 2011 00:14:00 -0700 (PDT), harry wrote: On Jul 20, 5:17 pm, Pavel314 wrote: On Jul 20, 11:38 am, Country wrote: On Jul 20, 2:45 am, harry wrote: Now both of our economies are going to hell on a handcart is now the time to buy gold or is it too late? If you have any, do you sell? If you do, what do you do with the readies? ($). Buy houses? I've heard some folks are going to the bank and buying rolls and rolls of nickels. I'm not sure why that would be a good thing to do but it is going on. -C- From Wikipedia: As of 10 April 2011, the value of metal in a nickel is approximately 7.1 cents at current spot prices for constituent metals, a 40%+ premium over face value. It is illegal to melt or export nickles but in case of a paper money crash, the metal will have some value. Surely "nickels" aren't actually made of nickel? 25% nickel, 75% copper.- Hide quoted text - - Show quoted text - Most of our coins have a steel core these days. |
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