Is gold really the be-all-end-all?

Discussion in 'Commodities Forum' started by Fury, Sep 7, 2014.

  1. JR Ewing

    JR Ewing Super Moderator Staff Member

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    First Eagle and other companies keep physical gold in Ft Knox and also overseas.
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I avoid ETFs that borrow.
     
  3. Brad321

    Brad321 Active Member

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    That isn't how it works. When derivative wealth backed by nothing goes poof, physical commodities will regain their place at the top of the hierarchy. Gold and silver will be able to be bartered for tangible items when fiat dollars are inflated away to no value.

    I guess we are just going to have to agree to disagree on this. I can't believe you think gold and silver will just suddenly have no value because a fiat dollar backed by nothing becomes worthless, but you are entitled to your opinion. Like I said... physical metals are insurance. I like my chances better holding my physical metals than yours trying to get an ETF or Mutual Fund to distribute some 100X leveraged gold to you. I hope we never have to find out who was "right".
     
  4. moneyman

    moneyman Well-Known Member

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    Gold is a good investment if you are thinking to invest in something stable which keeps its value. However, it haven't been raising its value as fast as before so I haven't been investing in it anymore.
     
  5. JR Ewing

    JR Ewing Super Moderator Staff Member

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    If the dollar ever becomes truly worthless, we're all completely fucked!



    Maybe if you'd read my ENTIRE posts you'd "get it"... You're snipping little bits of paragraphs, ignoring the contexts of those little bits you're quoting, and ignoring entire paragraphs completely so that my posts mean something entirely different and fit your little narrative.


    If you’re going to quote me and debate me, I think you should take the time to read my entire posts and address them in proper context. You remind me in that regard of a guy who suddenly stopped posting here exactly one week before you showed up. :confused:

    I definitely know "how it works" - you're missing my point completely.


    If the dollar ever becomes truly worthless, we're all completely fucked!




    I know you're capable of writing long winded posts, but you don't seem to be willing or able to read very much of others' posts. Maybe you have a short attention span, maybe you're not really interested in others' viewpoints, or maybe you're trolling, IDK.

    I don't know what your background is, where you live, what you do, or how old you are. But you seem to be quite sheltered if you're being anywhere near remotely serious here.

    I'll try to make it really clear for you...


    If the dollar ever becomes truly worthless, we're all completely fucked!


    You'll need food, water, shelter, and to keep yourself safe. Gold and silver won't mean anything - you'll only be concerned with making it through the day alive, feeding yourself, having fresh water, and hopefully somewhere to bathe and take a shit. Hopefully you'll have some paper handy to wipe your ass - forget about going to the store, the store will have already been looted. You'll probably be carjacked at the fist stop sign or red light you stop at after leaving your gated community. Of course your lights will be out at home, and your car may not even start anyway, since the computer system will likely be fried.

    No one will want to "trade" or "barter" with you - they'll want to steal whatever you may have from you after they've cut your throat, shot you, or bashed your head in.

    Before I was a wealthy middle-aged fund manager, I went through some hard times and also worked in occupations and in locations where I was around lots of "primitive" people, some shady people, and also some very poor people. I understand human psychology on it's darker levels quite well. I've been around enough to realize that if the dollar ever becomes worthless or something of a similarly catastrophic nature happens, that crackhead on the streetcorner who will kill you for $10 for a rock if you're not careful will become 300 million crackheads who will kill you for even less.

    Have you seen what was happening in Ferguson, MO lately? Those riots - hundreds or thousands of people breaking into businesses and looting, stealing anything and everything they can get there hands on.

    Imagine those people and another 300 million people rioting because their ATM and EBT cards don't work tomorrow morning if the dollar becomes worthless overnight. They can't pull $20 out of their Chase ATM machine because the bank shut down when the dollar crashed. Their EBT card no longer works because both the bank and the govt shut down - they can't eat, they can't pay for what little rent they may have, their power and utilities (along with the bank's and everyone else's) don't work anymore, toilets won't flush, etc.

    Since my "Wild West" and Bladerunner / Mad Max post-nuclear holocaust analogies went over your head, think of "Gilligan's Island" - except you're on a MUCH larger island, and there are 300 million savages all over the place... you have to not only feed yourself and find fresh water, you also have to keep yourself from being killed by the savages. Gold and silver won't be of any use to you.

    That's the simplest way I can put it. I'm sure I'm wasting my time typing this - you won't read it anymore than you read all of my other two posts. But there are some smart folks here who will "get it".

    How many people living on a few hundred a month govt assistance can afford ANY gold? Do you think those people are going to just go away and die if their EBT cards don't work anymore?

    You gold bugs - who naively think that the country and the world will just seamlessly transition to gold the day after the dollar would crash, and that your life will carry on as normal, and that you'll suddenly be the world's richest elites, and everyone else will be happy to merely bow down at your feet and cater to your ever whim - are living a fairy tale.

    And any country out there still strong enough who hasn't been completely ruined by the global collapse after our dollar becomes worthless will likely use this as an opportunity to try to take us out and take our assets.


    If the dollar ever becomes truly worthless, we're all completely fucked!




     
    Last edited by a moderator: Jul 8, 2016
  6. Eziospick

    Eziospick Guest

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    I think I would have to side with JR on this one. Gold won't feed your family if they're starving. It won't carry you into the woods and help you take down a deer. It won't skin and clean said deer. I think if the world did get knocked back into the stone age we might be trading gold tipped bullets, but not straight gold bullion. I love gold as much as the next guy, but I'd have to be crazy to trade food for a hunk of metal when I need it. I'm not saying gold is useless or worthless. It might have value again oneday when the feudal system has kicked back in XD. Em I think if you buying gold or silver for the end of the world, you might have a bigggg surprise coming. I think you'd be better off buying land, ammo, or weapons.
     
  7. Brad321

    Brad321 Active Member

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    I did read your entire posts and I clearly pointed out which comments I disagreed with and gave my supporting documentation why. That is what a discussion forum is for. If you only want people that slap each other on the back and say, "How right you are!", you don't have much of a discussion.

    I disagreed with this quote of yours:

    "I don't think gold will be anymore valuable than the dollar if the dollar ever truly becomes worthless."

    I believe the statement physical gold and a paper dollar will have the same value in an economic meltdown couldn't be more wrong and gave a cogent argument why. Then you said I somehow misunderstood, yet you doubled-down on the statement with:

    "Gold or metals or anything else that you can't eat, drink, or use as a weapon or shelter won't likely mean shit."

    I don't know why you need to be so offended because I disagree with these statements of yours. There is no need to hurl paranoid accusations that I must be some poster who recently left here... the moderator knows better as he can view my contact details and IP address.

    You have over 800 posts here. You don't need to feel so threatened because someone new has come along that doesn't bow to your feet and can hold his own debating you. I will be leaving this forum now. This is my final post. As the site stagnates, the owners and moderators can ask themselves if spirited discussion and debate is being nurtured here or if there is someone that can't handle a dissenting opinion and will squash any honest debate.

    I defend your right to believe whatever you wish as I defend mine to offer a contrarian viewpoint backed up with the supporting documentation. You win. Life is too short to be treated like this for using a discussion forum as intended.
     
    Last edited by a moderator: Jul 8, 2016
  8. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I knew somebody would get it. We'll see mass lawlessness, chaos, etc.

    I'm not here to try to be any sort of "king" or any nonsense like that, or try to run anyone off. Everyone is entitled to their own opinion.

    But when I'm misquoted repeatedly or taken out of context repeatedly, it really irritates me. I repeated numerous times that I only invest in ETFs that DO NOT borrow, for instance, and I kept being quoted and debated on the incorrect "fact" that I was using "leveraged" ETFs, ETFs "borrowing at 100x", etc, which is nonsense in my case. Or that I thought that ETFs would be of any help in such a crash - completely opposite of what I was saying.

     
  9. allswl

    allswl Member

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    Gold will always be a safe bet for many people. Look at it this way, in 2002 the price of gold was under $400 if my memory serves me right, it is at $1200+ today and in 2011 it hit $1800 at one point. The trick is to see gold as a medium to long term investment and to be patient and resolute. I would not advise you to buy gold at current prices since the price may be a reflection of current economic conditions.
     
  10. cameronpalte

    cameronpalte Well-Known Member

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    Gold has its advantages and its disadvantages. However, one of the main advantages of gold is that it always has value. However, with that said don't ever think of it becoming a standard for currency or anything like that - there just isn't enough of it.
     

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