General Discussion

TheWraith

(24,331 posts)

29. Oye, not this crap again.

Wed Dec 14, 2011, 06:34 PM

Dec 2011

News for everyone else who thinks that stuffing gold under their mattress is a solution: it's absolutely ridiculous in every way.

Implicitly, you believe one of two things will happen. One is massive financial catastrophe like a stock market crash, but the continuation of major institutions like banks, government, and financial markets. In which case, the only smart thing is to have your hedge investments--like gold--stored in a safe location like a bank vault, lest someone break into your home and steal it all.

OR...

You believe in a catastrophe WITHOUT the continuation of institutions like banks, government, and financial markets. In which case gold will be worth exactly shit. It's "value" is just as imaginary as paper money--you can't eat it, can't build things with it, and it won't keep you warm. The idea of gold coins being worth even a fraction of the value you put into them, in some kind of post-catastrophe world, is simple fantasy. If you really believe that that's going to happen--and by the way, it's not--you're better off investing your money in tangible goods. Dry and canned food, tools, firearms, ammunition, insulation, gasoline, clothes, etcetera.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

31 replies

= new reply since forum marked as read

Highlight:

Gold down $95 today after losses yesterday. US Dollar gaining relative strength quickly. [View all] banned from Kos Dec 2011 OP

What will Glen Beck do? Cigar11 Dec 2011 #1

Laugh all the way to the bank. Capitalocracy Dec 2011 #12

Since when does gold follow the markets? Juneboarder Dec 2011 #2

And you are correct. BeHereNow Dec 2011 #3

Oye, not this crap again. TheWraith Dec 2011 #29

How much have you transferred to PMs? And when? BeHereNow Dec 2011 #31

Gold never has followed the big indexes closely. Its getting hammered now due to dollar strength. banned from Kos Dec 2011 #4

WHAT dollar strength- please, elaborate. BeHereNow Dec 2011 #5

This means more recession earthside Dec 2011 #6

Keep stacking. BeHereNow Dec 2011 #11

You are a goldbug Doom and Gloomer banned from Kos Dec 2011 #14

And your transfer of dollar assets to PMs is what exactly at this point? BeHereNow Dec 2011 #15

Crickets... BeHereNow Dec 2011 #16

just went out. Yes, you said $ strength was "delusional" but the banned from Kos Dec 2011 #19

Tee-Hee, NO WAY am I going to sell. BeHereNow Dec 2011 #20

So we disagree about the future. I say solid growth and you say meltdown. banned from Kos Dec 2011 #22

I hope you are not holding your breath based on these sources... BeHereNow Dec 2011 #21

DXY (not DWX), its the Dollar Index. banned from Kos Dec 2011 #23

relative to the Euro. DCBob Dec 2011 #7

Gold is more a hedge against the dollar rather than against the markets. DCBob Dec 2011 #8

LOL!!!!!!! n/t BeHereNow Dec 2011 #9

what's so funny?? DCBob Dec 2011 #10

Your complete disconnect from the fact that we live in a GLOBAL economy. BeHereNow Dec 2011 #13

BHN, Don't Waste Your Time Arguing Yavin4 Dec 2011 #17

And that is NO accident- (buying opportunity, that is...) BeHereNow Dec 2011 #18

The COMEX May Not Make It Past June 2012 Yavin4 Dec 2011 #27

and you think gold is going to save your ass if that happens?? DCBob Dec 2011 #26

The Global Economy Is Heading Back to the Gold Standard Yavin4 Dec 2011 #28

If things get that bad even a pile a gold wont do you any good.. DCBob Dec 2011 #30

I have a question about metals coinage. Dover Dec 2011 #24

If the intrinsic value of a dollar is .32c or .03c (paper) why does it matter? banned from Kos Dec 2011 #25