Gold hits record price

Glad I got my gold teeth when it was just $525 .....




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let's talk about this for a second. I've been looking to get into gold for a while now. Would I be stupid to get about 10k worth?

I think it's great for people who already have some, but I'm not confident enough to know where it's going over the next year(s). I don't think it's a good major investment based on it's growth in the past. It's a good hedge bet, as a minor investment, which is probably what India is doing. They bought half of the gold earmarked for sale or $6.7 billion worth.

if your looking to make a negative return, then sure

I heard somewhere that in about 50 years China will be the world's #1 economy with the biggest GDP. Right now #1 is USA. But, some say China is really #1, it's just that they have figured out ways to cloak and hide their true power and GDP.

They have so many people and they are working hard to create a middle class in that country. If they can create a sustainable middle class they will eventually be the #1 economy in the world. The sheer volume of people they have will help them get there.

I spent around 20k on gold back when it was in the $600 range, and fully expect to to see $1500 and possibly even $2000 within 12 - 24 months. Silver has made a killing for me as well.

Buying gold NOW is still not a bad idea, as it is going to rise. You may see a temporary drop here and there but overall, it's going up.

Having said that, the United States may see a TEMPORARY recover and then completely fall on it's face, unless the Fed raises rates, and now. They also are not fixing the root of the banking crisis, and throwing money at it will not fix the problem. Can you believe a 3rd bailout is being discussed, even though the 2nd one has not been fully distributed yet? This is complete insanity, and will eventually bring a total collapse of the US system. I believe that is what needs to happen. Let the failures fail and rebuild with winners. There is no other way.

Les Grossman. ROFL.. Priceless name. And I expect gold to go for 3-4k/oz when we get hyperinflation or double digit inflation. Gold is the best investment one can have.