More like five hundred not five thousand :2 cents:

Actually, yes, I am working on it in my spare time......it sure brings back some good memories. :thumbsup

That would get me back in. :thumbsup I think it's still got a few more years, but it won't be a straight line and like in 2008, is susceptible to large declines.

I would be super surprised if we got back to $500. Still, I agree with what you are suggesting and I wouldn't buy it at current levels.


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Yes, the price of gold expressed in USD, EUR, GBP, AUD etc is going up... One of the reasons here is the fact that today's monetary systems are very much interlinked. Both the USD and the EUR are being widely used as a reserve currency. The second reason is the worldwide reach of the banking crisis of 08 (again, what happens to the USD will affect most of the worlds currencies here).

There's no doubt in my mind that both the USD and the EUR are going to crash (*). It will be interesting to see which one will go first. If one of them goes, it will take the other one down with it.


(*) Most Europeans seem to be oblivious of this, but it only took the ECB tens years to do what the Fed needed 100 years for.

Okay, so I take it we can agree that since gold is going up against all major currencies and is not specific to the dollar, your position is that all currencies that are declining against gold are "crashing"?



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Exactly. When ppl start making lofty projections you know the rally is just about over.

If I had tons of money I might still buy some for pure safety. But I wouldn't touch it as an investment at this point.

It's just a matter of time before it crashes hard... the real estate crash will look like a walk in the park in comparison... if you bought it for $500 few years ago you are probably in good shape, but buying now at $1500 is complete foolishness, no different than buying real estate at it's peak.. and with the real estate crash at least some measures were taken to soften the blow, but with the coming gold crash no one will give 2 fucks about some gold speculators, so it will crash and burn harder than you could ever imagine... but good luck with it :thumbsup

you have no fucking idea what you are talking about.

gold is in bullish trend and will stay that way for long time.

Its obvious you don't have a remote idea of world economy at all. Get a clue, then give a strong opinion like that.

in effect: yes. If you are going to base your currency on a certain product and the value of that product goes down, than in effect the value of your currency will go down as well. Most of the worlds central banks are using the USD and the EUR as their reserve currencies these days. In other words: their currencies are based on the USD and EUR.

Owning physical gold is important sure......

But one of the best ways to profit is to purchase shares in gold mining companies. Dont forget that when you buy physical gold, your only gain if/when the price goes up from the cost basis.

Gold mining companies basically earn the marginal difference between the cost of extraction and the market price - much more profit potential if you make the right play but it would be better to have exposure to both mining companies and physical as part of a gold strategy.

50oz of gold :)

Well, there's 2 reasons why one would own gold: one of them is trying to make a profit like you just described. The other reason is to protect your wealth against inflation.

If your objective is to protect against inflation it's much better to buy a mix of commodities... that way you will be protected against inflation equally well, but your risk will be minimized... or just buy "Treasury Inflation-Protected Securities (TIPS)", and get protection against inflation with practically no risk...

so lets be real here, almost no one buys gold for protection against inflation... they say they do, but they buy it to speculate hoping the price will really go to $5k/oz... :2 cents:

Not true but obviously gold is more mainstream and lot of people think that way. Investors though, are generally taught to always keep some gold as part of a diversified portfolio and also inflation hedge.

On the gold mining stockmarket listed side, I like Gold corp (GG) and Yamana gold (AUY).