So Europe is about to melt down....

300 H and H

Bronze Member
GOLD Site Supporter
Any ideas on how to profit during this fall out? The dollar is going to get stronger, as the Europeans are shifting into this, and I think other currancies as well...

Will it effect the stock market? Will it go lower on this bad news?

Commodities are getting trashed today as JP Morgan unloads it speculative positions....to cover there dirrivaties debt.

I am thinking the Banksters may be threatened with new regs, but it an election year, I kinda doubt it, as the may grease too many palms for that.

I have been thinkingof shorting some thing, maybe the S&P 500 just in case..Any thoughts? Or buying more gold, in this time of alot of uncertainty...

I have a gut feeling this is going to be a very long summer with elections, and great turmoil in the money markets in Europe and perhaps here as well.:sad:

What are your thoughts?

Regards, Kirk
 

waybomb

Well-known member
GOLD Site Supporter
Take a trip to Europe when it does melt down. You'll be treated like royalty with those dollars in your hands.

And just a few short months ago, many here were predicting the demise of the dollar and its use as the standard currency.

Gold - blah. Pump-n-dump. What a game.
 

waybomb

Well-known member
GOLD Site Supporter
Nobody was out there screaming to buy gold when it was 300 or 600 an ounce. When it got to 1200 or so, then the story was "Some experts predict gold will triple in price". You've heard the commercials. "Some" could be all of two.

Who do you think is selling it at 1200??? The peeps that bought at 300. Did you notice how the commercials became pervasive and regular on just about any channel, tv or radio, once it hit 1600? Lookin' for a sucker.

I look at gold as a scam. Worse than the stock market's mutuals.
 

squerly

Supported Ben Carson
GOLD Site Supporter
I don't get it, with the dollar in the toilet, how can gold can't go anywhere but up?
 

waybomb

Well-known member
GOLD Site Supporter
The dollar is not in the toilet. Relative to most currencies, dollar isn't that bad off. But if you believe buying gold at 1600 is a good idea, go for it. Just remember, someone has to sell physical gold if you want to buy physical gold.

Look at it this way. History shows that gold has been this high before, when there were much less paper dollars floating around. If in fact gold was inversely tired to the dollar, it should be at 3000 or more, today.

Point is, gold is emotional. That's all. Its not tied to any currency any more, either as straight value or inverse value.

Just my opinion, not advice. If you think it will go up at a higher velocity than assets, go in big. My motto is you have to run with your gut.
 

Kane

New member
I don't get it, with the dollar in the toilet, how can gold can't go anywhere but up?
Oh, gold will continue to go up. Waybomb doesn't get it. It will continue to increase in value on the same curve it has since that idiot Nixon took America off the gold standard in 1971 ... when it was $35 an ounce.

The irony of the market today is that - since gold is tied to the dollar - as the Euro tanks due to troubles in Greece, France and Spain, the USD (as worthless as it is) is artificially inflated in value. Hence, the price of gold and oil falls off.

My guess is that this summer Obama will have Ben Bernanke do another bit of economic voo doo in way of QE3 ... just to have that last minute stock market rally prior to the election. Of course monitizing the debt (again) will cause the price of gold to soar even more. It screws your grandchildren (again) in the meantime, but, hey, who's watching?

I am a gold bug simply to preserve the value of my savings. People that don't are screwed, too. But like Daddy always said, an ounce of gold will always buy you a very nice suit. And if you think about it, it's been exactly that way since the Brennon-Woods Agreement of 1945.
 

waybomb

Well-known member
GOLD Site Supporter
Had you invested in a simple low risk djia index fund, you would have enough money to buy four times the gold you have now. You did not preserve a thing. Sorry.
 

Kane

New member
Had you invested in a simple low risk djia index fund, you would have enough money to buy four times the gold you have now. You did not preserve a thing. Sorry.
No, if I had invested in a nice djia fund I would have the same amount of purchasing value that I had in 1999. When gold was at $284.

Of course we can always talk djia since 2008. We're on a path to make Japan look good.
.
 

Kane

New member
au75-pres.gif
 

waybomb

Well-known member
GOLD Site Supporter
Well hell, Better start buying a whole bunch.

Picking time frames to support your theory is great.

Gold is to emotional to argue about. Like I said earlier.

Buy buy buy gold if you must, but you better buy the metal, and you better have a very secure and very accessible place to keep it. Good luck.
 

Kane

New member
Buy buy buy gold if you must, but you better buy the metal, and you better have a very secure and very accessible place to keep it. Good luck.
If you don't have it, you don't have it. And oh yes, it's secure. No luck necessary.

But thanks for asking.
.
 
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waybomb

Well-known member
GOLD Site Supporter
Yes, if you bought the guns over there after exchanging dollars for local currency.

Last time we went to Europe, the dollar was not weak, and we ate like kings for a few bucks a meal.

Another observation is the girls over there must not have enough money because they are thin and wear minimal clothes..........
 

FrancSevin

Proudly Deplorable
GOLD Site Supporter
I did a gold deal last September. And even with commisions, I sold at a tidy profit this spring.

I'll take it over much of the stock bought in 2008.

Like anything it is buy low and sell high. But gold isn't for quick turns. I just got lucky when I needed to sell.

Right now there is no reason to expect gold to cross $2,000 an once. A good bit of it is available for mining at that price so it will stay well under that figure for some time.

Unless the dollar really tanks.
 

waybomb

Well-known member
GOLD Site Supporter
And that is much of my issue with gold as an investment or a hedge-signals are weak and what I call emotional.

Luck seems to be the needed quality one must have, and I don't.
 

Danang Sailor

nullius in verba
GOLD Site Supporter
I'm still investing in lead and brass, as it should be quite valuable the way things seem to be headed. And yes, I'm serious. I'm
figuring if Obama is given another four years we're all going to have to be armed just to leave the house for groceries.


 

MrLovable

Well-known member
SUPER Site Supporter
I'm still investing in lead and brass, as it should be quite valuable the way things seem to be headed. And yes, I'm serious. I'm
figuring if Obama is given another four years we're all going to have to be armed just to leave the house for groceries.



My two favorite metals as well, Danang. Don't forget the powder and primers too. :biggrin:
 

300 H and H

Bronze Member
GOLD Site Supporter
How about shorting the S&P 500?

Will the stock market tank, or will the rest of the world eat our debt by standing by the dollar? The rest of the world doesn't like it much when we print money, and the dollar goes up. Is it a good thing for the stock market if the dollar goes up in value? Usually gold goes up when the dollar does BTW..

Regards, Kirk
 
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