Posted: Sun May 11, 08 2:51 pm Post subject: Gold & Silver (and other metals)
I got the bug. Gonna post some interesting stuff.
Jim Rogers says he'll buy gold at US$750
SINGAPORE -- Investor Jim Rogers said he will buy more gold and base metals if the recent sell-off persists.
"Gold is in a correction right now," Rogers, who co-founded the Quantum fund with George Soros in the 1970s, said at a press conference Thursday in Singapore. "I suspect it could go down to US$800, who knows, or US$750. I'm terrible at market timing, but if gold goes down some more, I plan to buy some more."
http://www.chinapost.com.tw/business/americas/2008/05/09/155601/Jim-Rogers.htm
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appel Infinity Agent
Posts: 3112
Posted: Sun May 11, 08 3:01 pm Post subject:
China's CCTV takes aim at foreign gold miners
BEIJING, May 11 (Reuters) - State-run China Central Television has run a show that sharply criticized foreign mining investors in China, and suggested the country might tighten restrictions over investment in the sector.
http://money.ninemsn.com.au/article.aspx?id=560965
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Russian Roulette Time Traveller
Posts: 30
Posted: Sun May 11, 08 4:09 pm Post subject:
YAY!!!
His eyes have been opened!
congrats, keep saving your gold and silver!
Silver will be very useful(possibly in the near future)
so keep saving!
RR
AcneVulgaris Entropy Engineer
Posts: 1364
Posted: Sun May 11, 08 7:46 pm Post subject:
I'm buying more if it gets under 800.
appel Infinity Agent
Posts: 3112
Posted: Sun May 11, 08 7:56 pm Post subject:
Good interview:
Shayne McGuire: The Early Innings of a Gold Boom
Selected quote:
Quote:
...
Gold is the most underowned major asset class; it is almost completely absent from the vast majority of major funds in the world that exceed $100 million in value, of which there are hundreds if not thousands. Today, these funds can invest in gold with the click of a mouse and a great many of them are beginning to do so. The global asset market is worth around $140 trillion. If one percent of that moved into the miniscule $5 trillion gold market—less than 5% of which actually trades each year—gold’s value would skyrocket. Lacking a P/E or some other conventional investment metric with which to measure its value, I think gold will rise as high as the market will allow it, and I think we will have a speculative craze, just as we had with the Nasdaq. I think $10,000 an ounce is possible. But who can say what the limit is for an asset that has no P/E? Obviously, there will be a time to sell, but I think that is years in the future.
...
_________________ True scientists don't manipulate complex data to get a simple answer they wanted to achieve from the start. That's not science.
appel Infinity Agent
Posts: 3112
Posted: Mon May 12, 08 6:14 pm Post subject:
I know I posted a link to galmarley.com site previously, but this article is really good:
This article celebrates the wisdom of an ex US Senator who just happens to be Warren Buffet's father. It offers a depressing lesson from history, but it graphically illustrates how private property has delivered and protected personal freedom only for a privileged few, and how the opportunity to be one of them is still there for the taking.
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appel Infinity Agent
Posts: 3112
Posted: Tue May 20, 08 7:02 pm Post subject:
Buying and Storing Physical Gold Bullion
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appel Infinity Agent
Posts: 3112
Posted: Wed May 21, 08 3:12 pm Post subject:
STOP STOP STOP MOVING UP!!!! I haven't bought yet! Still waiting for my goldmoney.com account to be "verified".
Gold is up from about $860 to nearly $935 this week. That's whopping $75, or 9% gain!
Silver is up from $16.8 to OVER $18 this week, 7% gain.
No significant drop visible, seems to be no stopping it now. The week ain't over yet.
Great, and I was hoping to buy when my currency was up 5% and while gold was in the $860 and silver under the $17. Looks like any gain my currency made will be eaten up by gold/silver gains.
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NukeDaddy Infinity Agent
Posts: 2608
Posted: Wed May 21, 08 7:47 pm Post subject:
What happens to the people you buy the gold from when the dollar tanks?
_________________ "Government is not reason; it is not eloquent; it is force. Like force, it is a dangerous servant and a fearful master." - George Washington
appel Infinity Agent
Posts: 3112
Posted: Thu May 22, 08 8:08 am Post subject:
NukeDaddy wrote:
What happens to the people you buy the gold from when the dollar tanks?
I guess they buy something for it, or put it under the bed
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NukeDaddy Infinity Agent
Posts: 2608
Posted: Thu May 22, 08 12:59 pm Post subject:
appel wrote:
NukeDaddy wrote:
What happens to the people you buy the gold from when the dollar tanks?
I guess they buy something for it, or put it under the bed
they can't buy anything with those worthless dollars.
_________________ "Government is not reason; it is not eloquent; it is force. Like force, it is a dangerous servant and a fearful master." - George Washington
appel Infinity Agent
Posts: 3112
Posted: Thu May 22, 08 4:07 pm Post subject:
NukeDaddy wrote:
appel wrote:
NukeDaddy wrote:
What happens to the people you buy the gold from when the dollar tanks?
I guess they buy something for it, or put it under the bed
they can't buy anything with those worthless dollars.
Whores and booze?
_________________ Fighting the system since 1st grade.
From the late ‘80s until now, that sleazy operator inflation barely got a mention, though we were living through two decades of never-before-seen money supply growth. Who cared? He was serenading stocks and houses and we were getting richer. “That’s nice,” we said, “but ssshh”.
But now the old cad has dumped poor, dear housing and stocks for a new lover: commodities – food, metals and energy – and polite society is outraged. “How could he?” we are all saying. And that’s part of the problem – the fact that we are all suddenly talking about inflation. The genie is out of the bag and it’s going to be impossible to get him back in.
That hasn’t prevented the world’s top central bankers from going on a concerted genie-suppressing effort. Bernanke, King and Trichet have all spoke out on the subject this week. But it is too late for that. Pandora’s Box has been opened.
In the long-term it does not matter what central bankers say. What matters is what they have done. Gold and oil are going to go a lot higher. But how high? I’ll tell you. Perhaps $8,500 for gold and $400 for oil.
Here’s why…
more...
_________________ True scientists don't manipulate complex data to get a simple answer they wanted to achieve from the start. That's not science.
appel Infinity Agent
Posts: 3112
Posted: Sun Jun 15, 08 9:27 am Post subject:
If you're in the U.S. you better jump out of your dollars and buy gold and silver. All this "liquidity", another name for money, that has been pumped into the financial system in recent months to save it from collapse will soon find it's way and affect the average people by price inflation.
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AcneVulgaris Entropy Engineer
Posts: 1364
Posted: Sun Jun 15, 08 10:07 am Post subject:
I'm not so sure those liquidity injections are actually going anywhere for long...they have a fairly short lifespan. For the money to stay in the system, Bear and others would have to default on their loans from the fed....which they very well might, but haven't.
I think the price inflation we are seeing is mostly due to oil, which may be up because of speculators rather than supply constraints. All that said, if gold gets under 800 I'm gonna convert another third of my savings to it. That's where my intuition tells me that the potential benefits outweigh the potential risks by enough for me to make a move.
I think the situation is way more complicated than any human can grasp, so moderation is probably prudent.
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