T there has been a 12% drop in Gold since October.....what up with that

I think I should have sold my high school class ring last fall...........how low is gold going to go?

2seaoat wrote:how low is gold going to go?

No telling. But according to this chart, in August 1980 it was $1700/ounce. And by June of 1982 it had dropped to $735/ounce.

http://www.macrotrends.org/1333/gold-and-silver-prices-100-year-historical-chart

In light of what's happening, it's really remarkable that so many gold seller commercials on Limbaugh's, Beck's, Hannity's, Levin's and all the other right wing radio shows are STILL telling the audiences that "now is the time to buy gold". And the hosts themselves are still doing many of those commercial spots and when they're pitching gold they muster up all the same sincerity they appear to have when they're telling us Obama is a communist muslim dictator. lol

Commodities whether gold, corn, silver, or copper have cycles and ups and downs........I personally think buying gold is like buying a house in 2005......it seemed like a good investment based upon recent history.......but everything has a value, and the nature of relative values always has something going up or down, and the proposition that gold could only go in one direction because of the failure of fiat currency was on the face of it absurd.

T,
I could not get beyond the tie to give any credence to her content.....Didn't her dad teach her how to tie a tie.......length and style.......I had that tie in 1981 and gave it to the Salvation Army.....I am glad she put it to good use, now we have to figure out where she found these economic principles.

Your humanity turns into a fungible proxy

ahhhhh ok........

They will go into stores and shoplift carts of tide detergent as their fiat currency.........

shoplift carts of tide detergent?

Bob wrote:In light of what's happening, it's really remarkable that so many gold seller commercials on Limbaugh's, Beck's, Hannity's, Levin's and all the other right wing radio shows are STILL telling the audiences that "now is the time to buy gold". And the hosts themselves are still doing many of those commercial spots and when they're pitching gold they muster up all the same sincerity they appear to have when they're telling us Obama is a communist muslim dictator. lol

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The point to which Bob alludes condenses the salient points . . . . . right wing pundit's sell an idea or concept that the country is going down the drain because the electorate rejected their message and by doing so their message is an investment plan to survive the impending demons and dragons they sell or a yet better term . . . . . . fear.

Any rational person understands the trading of commodities but the political hawking of gold as a 'safe haven' from political apocalypse only fills their pockets and simultaneously plays political music to their choir.

the political hawking of gold as a 'safe haven'

I remember the realtors a year after the crash on Navarre Beach telling people now is the time to buy at the historic lows.......values dropped another 25% and we are going on 6 years without a recovery of any measurable amount. Real Estate on Navarre Beach went from the hottest investment.....300% returns in five years, to 50% plus reductions in value.......timing.....gold is no different.

knothead wrote:
The point to which Bob alludes condenses the salient points . . . . . right wing pundit's sell an idea or concept that the country is going down the drain because the electorate rejected their message and by doing so their message is an investment plan to survive the impending demons and dragons they sell or a yet better term . . . . . . fear.

Any rational person understands the trading of commodities but the political hawking of gold as a 'safe haven' from political apocalypse only fills their pockets and simultaneously plays political music to their choir.

I think you've summed it up about as accurately as one can do, knothead.

And if gold keeps going down, I wonder if the schmucks in those political evangelist radio audiences who bought it will begin to question the credibility of their personality cult leaders.
If history is any indication, when they found out the other kind of radio/tv evangelists like Jimmy Fay and Tammy had no credibility, they stopped sending the checks for a while. But it was soon forgotten and those evangelists were right back on the radio and tv again.

Money is what ever we agree on. The entire world agrees gold is money. Right now the big dogs are shaking the gold money tree to get the low hanging fruit. How long the shaking goes on remains to be seen.

TEOTWAWKI wrote:Money is what ever we agree on. The entire world agrees gold is money. Right now the big dogs are shaking the gold money tree to get the low hanging fruit. How long the shaking goes on remains to be seen.

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Exactly, but the 'agreement on value' based on irrational basis undercuts its true fundamental value unlike common commodities . . . . . . . this is clearly over valuation based on political fear mongering.

knothead wrote:

TEOTWAWKI wrote:Money is what ever we agree on. The entire world agrees gold is money. Right now the big dogs are shaking the gold money tree to get the low hanging fruit. How long the shaking goes on remains to be seen.

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Exactly, but the 'agreement on value' based on irrational basis undercuts its true fundamental value unlike common commodities . . . . . . . this is clearly over valuation based on political fear mongering.

True to a point but you underestimate the enormous power of fear in evil hands. It has given us TSA and endless wars and sold a boatload of guns and ammo. I will cling to my God , guns and gold...till something more reliable shows up.

TEOTWAWKI wrote:

knothead wrote:

TEOTWAWKI wrote:Money is what ever we agree on. The entire world agrees gold is money. Right now the big dogs are shaking the gold money tree to get the low hanging fruit. How long the shaking goes on remains to be seen.

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Exactly, but the 'agreement on value' based on irrational basis undercuts its true fundamental value unlike common commodities . . . . . . . this is clearly over valuation based on political fear mongering.

True to a point but you underestimate the enormous power of fear in evil hands. It has given us TSA and endless wars and sold a boatload of guns and ammo. I will cling to my God , guns and gold...till something more reliable shows up.

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OK by me . . . . . whatever blows up your skirt!

e-currencies are the new gold.

a primer on e-currency

http://economictimes.indiatimes.com/opinion/poke-me/poke-me-e-currency-can-make-central-banks-powerless/articleshow/19359822.cms

Margin Call wrote:e-currencies are the new gold.

I still have a problem with the whole bitcoin thing, It would seem to me that it would be the easiest currency to inflate and then abscond with the real money. I will wait and see but there are a lot of bitcoin millionares popping up.

TEOTWAWKI wrote:

Margin Call wrote:e-currencies are the new gold.

I still have a problem with the whole bitcoin thing, It would seem to me that it would be the easiest currency to inflate and then abscond with the real money. I will wait and see but there are a lot of bitcoin millionares popping up.

There are constantly new bitcoins being created. However, the system has a maximum amount of bitcoins that will ever be produced. As far as I'm aware, you can't by bitcoins directly with real currency, only e-currencies.

Here ya go:

"Currency with Finite Supply

Number of bitcoins over time Bitcoins are created each time a user discovers a new block. The rate of block creation is approximately constant over time: 6 per hour. The number of Bitcoins generated per block is set to decrease geometrically, with a 50% reduction every 4 years. The result is that the number of Bitcoins in existence will never exceed 21 million[1]. This algorithm was chosen because it approximates the rate at which commodities like gold are mined."

https://en.bitcoin.it/wiki/Controlled_supply

How long before the government declares this counterfeit currency ?..Thanks Margin I will study up on what you gave me....

TEOTWAWKI wrote:How long before the government declares this conterfeit currency ?

I'd say about the same time the government realizes it aint gettin any taxes off these transactions. lol

Bob wrote:

TEOTWAWKI wrote:How long before the government declares this conterfeit currency ?

I'd say about the same time the government realizes it aint gettin any taxes off these transactions. lol

I hate the fed as much as I hate Military congressional security industrial complex and I hope this bitcoin thing blows a hole in the whole crooked criminal bunch up there...go Bitcoin.

TEOTWAWKI wrote:How long before the government declares this counterfeit currency ?..Thanks Margin I will study up on what you gave me....

They'll probably just have a hacker bust the system as to teach people to never do this again as investors watch their accounts fall like a broken elevator of death .

http://www.zerohedge.com/news/2013-04-03/bitcoins-go-parabolic

perhaps people are bailing out of gold into Bitcoin....

Ruh roh!!!!!!!