Gold - The RWNJ currency

[Captain Oates 911]

What about the people who were buying stocks in the summer? Buy stocks - isn't that your advice?

How much has the S&P 500 lost since the summer?

What about the people who were buying gold 5 years ago?

That's a good point and the reason why I don't buy the S&P.

However, in the long term, an earning asset will outperform a currency proxy like gold (if that's what its supposed to be), especially if those stocks are in currencies which don't depreciate against the home currency

The right place to be since the summer is in the less volatile stocks with a dividend - and then use PUT options when they peak, to protect those too

The current volatility where the DOW went up 490 points in a day -(last week ?), means that drawing long term conclusions from short term moves is bound to be a false flag

That is why I don't discount gold coming back some - I hope it does so I can short it again

However we think of gold, it is NOT an earning asset and it stands to sense that an employed asset will earn more than a non-employed asset

At least that's what me and Warren say

Edited December 15, 2011 by Ashud Cocoa

[Ban Hammer 13,340]

I also happen to know a thing or two about finance and investments.

Edited December 15, 2011 by charles!

[웃 910]

Anyone - What is your take on RIMM? Such a pathetic sight to see:

[Captain Oates 911]

Anyone - What is your take on RIMM? Such a pathetic sight to see:

RIMM

Republican Insane Maniac Mess ? It's a good-bye for your money

I am out of anything techy - even apple / Hp / Google - I will stick to bread and oil and beer and jet engines and car batteries and Cialis

Actually, I am not that far from the gold nuts because I prefer stuff that you can touch

If you can't ride it, eat it, drink it or screw it, then it isn't in my portfolio or in my life actually.

No cigs companies.

[Nasturtium 500]

That's idiotic. When the USSR collapsed, people didn't start killing each other. There was still food and water and housing.

Their currency, however, became worthless, and those who had physical gold (or US dollars for that matter) did very well.

Out of curiosity: how would you propose moving gold though for the average person in order to turn it back into something you could use? The past US history with gold seems to make this problematic if they reverted to a similar course of action simultaneously with a collapse.

[Dakine10 5,452]

Out of curiosity: how would you propose moving gold though for the average person in order to turn it back into something you could use? The past US history with gold seems to make this problematic if they reverted to a similar course of action simultaneously with a collapse.

Assuming they followed a similar course to 1933 and you didn't want to hold gold illegally, you would have to exchange gold for currency at a bank. The executive order issued by Roosevelt did allow people to keep any gold with collectible or numismatic value, and exempted approx 3 oz of gold per person from the order. It also exempted any gold that was already required for legitimate use prior to the order (more of an issue then than now).

Of course they would not have to follow the same course of action as they did historically. One major difference now though is that congress has removed the presidents executive authority to regulate gold exept during a wartime emergency. Knowing that it has to go through congress, there should be ample time to dispose of gold any way you want. You could build a gold plated ark and sail to China if you wanted to.