The case for gold

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Submitted by scaredyclassic on June 23, 2020 - 6:27pm

Flirting with all time highs, gold seems high priced but not a dumb asset to own over the next few years if you think lots of stimulus money is coming still.

The case for gold always seems strong to me, but it always seems to peter out.

Could this be its time?

Submitted by gzz on July 27, 2020 - 7:15pm.

It means panic buying. From 15 to 26 in 2.5 months!

Inflation adjusted high is 149 in 1981. It was 30+ for most of 2010-2012. It could go a lot higher.

It is hard to value. It can be mined in Mexico for $5/oz, but those mines are in terminal decline and new mines are $18 and up. Solar panel makers will pay $100/oz if they have to, but will also invest R&D to find cheaper alternatives. X-ray film uses a lot of silver, but if it gets too high poorer countries especially will switch to digital. And private investors treat silver as a Giffen good, they want more as the price rises in violation of the axiomatic law of demand.

Submitted by scaredyclassic on July 27, 2020 - 7:45pm.

Im scared to buy slv, but not gld.

Inflation adjusted gold high is 2600

Submitted by gzz on July 27, 2020 - 8:52pm.

Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.

A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.

A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.

I don't believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn't there.

Submitted by The-Shoveler on July 28, 2020 - 7:03am.

scaredyclassic wrote:
Im scared to buy slv, but not gld.

Inflation adjusted gold high is 2600

My trailing stop is still running on SLV, Goldman Sacks is saying Sliver likely to hit 30 maybe.

It drops to around 15 again I will start nibbling at SLV slowly. Not a buyer at these levels either but that is just me.

Submitted by scaredyclassic on July 28, 2020 - 8:04am.

The psychology of numvers intrigues me. Why are we drawn to 2000? Why is it a destination. Why not 2026? It feels like numerology or phrenology. Dow 30000. Etc. The number has no intrinsic meaning

Submitted by scaredyclassic on July 28, 2020 - 8:07am.

gzz wrote:
Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.

A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.

A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.

I don't believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn't there.

Im a contrarian dope, but not very far off the plantation. I dont believe in the system, but i believe in electrons. And sec filings, and various trusts and pledges and so forth. Inconsistent gadfly

Submitted by Coronita on July 28, 2020 - 9:02am.

But real gold coins are pretty :)

Submitted by scaredyclassic on July 28, 2020 - 9:29am.

For fondling, perhaps, if you belie e in matter..

But i dont believ e there is any physical reality.

I firmly believe we are living in a computer simulation run on alien computers.

Submitted by Coronita on July 30, 2020 - 8:10am.

Big earnings day today for Tech. Hopefully Tim Apple will deliver good news, lol

https://twitter.com/i/status/11034218415...

Submitted by The-Shoveler on July 30, 2020 - 9:08am.

Got stopped out SLV yesterday (last few shares).

IMO If stocks take a hit Silver/Gold likely to follow (for a little while anyway).

Submitted by Coronita on July 30, 2020 - 2:09pm.

tech earnings coming in good. Apple 4:1 stock split. Go Tim Apple, Go!

Submitted by gzz on July 30, 2020 - 3:50pm.

“ But i dont believ e there is any physical reality.
I firmly believe we are living in a computer simulation run on alien computers.”

The first part is right, reality is mental (subjective idealism). See the work of George Berkeley for details. The second part is wrong. We exist as ideas in the minds of ourselves, others, and of God.

Submitted by The-Shoveler on July 30, 2020 - 4:05pm.

Albert Einstein once quipped, "Reality is merely an illusion, albeit a very persistent one."

Submitted by scaredyclassic on July 30, 2020 - 4:45pm.

G-d is likely to be an alien computer program, which is plain common sense, when you really think on it.

Submitted by gzz on July 30, 2020 - 7:28pm.

99.999+% of the intelligent life in the universe would consider YOU to be an alien from another planet.

Extraterrestrial is the inclusive term.

Submitted by scaredyclassic on July 31, 2020 - 5:46am.

gzz wrote:
99.999+% of the intelligent life in the universe would consider YOU to be an alien from another planet.

Extraterrestrial is the inclusive term.

So true. The kingdom of G-d and the alien computer is in us all. In the beginning was the word. What is a "word" but an immaterial bit of code Like a basis for a program. A computer language. Not material. The evidence for Him being a programmer is right there, man.

Friday's the day, 2,000 gold. End times are here.

Submitted by scaredyclassic on August 1, 2020 - 9:52pm.

So close. 1993. Maybe its time to consolidate.

I cant trade. If i buy, im in for at least 3 to 5 years.

Submitted by scaredyclassic on August 4, 2020 - 10:33am.

so worthless. just a useless piece of scrap.

Submitted by Coronita on August 4, 2020 - 11:09am.

Gold crossed $2000

Silver and platinum also up...

AMD is crossed the $100billion market cap. Glad I bought back in, sort of...

Dollar is getting trashed.

Submitted by The-Shoveler on August 4, 2020 - 11:30am.

Maybe they finally printed enough to hit point of no return LOL.

Submitted by Coronita on August 4, 2020 - 12:51pm.

The-Shoveler wrote:
Maybe they finally printed enough to hit point of no return LOL.

The interesting part is these days when the equity markets tank, so does gold and silver I think.

Looks like gold just took off past $2010/ounce

Submitted by scaredyclassic on August 4, 2020 - 1:46pm.

maybe; past performance doesn't predict future results. that last crash was in the face of a lot of uncertainty about covid. the next crash might be different.

it was painful for me to be a buyer today. so i bought some, because i did not want to.

I expected some consolidation. i thought we would be in the 1900s for a while, screwing around, waiting for news on a vaccine or something. gold seemed almost afraid to break 2000. But i also wouldnt be surprised to see this thing melt upwards, maybe not now, but some day not so far away. when people scramble for the exits, that money has to go somewhere. usually it's the dollar. now, i'm not so sure where people think "safe" is anymore. i dont think it's that we printed "too many" dollars. I think the underlying cause will people lose faith in the USA because they think, yeah, this country is fucking nuts. i mean, we have a strong advantage just the way the system's structured now, but look around. half the nation thinks trump is a good president. we cant seem to not kill ourselves from covid. our people are dumbshits. yeah, we are good athletes and make objectively better movies, but looking forward, is the dollar really where you want all your eggs? things change....gold could be the bridge...

if we woke up in the morning to 2200 gold, i would not be shocked.

however, i would take anything i say with a grain of salt, because i have been overweighted gold for a long time. even a stopped clock like myself is right twice a day, aand not that far off the correct time, even more often than that! its painful to sit on losses for years. but i stay married, dont charge careers and refuse to budge on my position that the dollar is doomed.

on the other hand, i have been buying like crazy the last couple months.

i didnt quite have the guts to go all in...what i know now, that i didn't know 10 to 20 years ago, is that I'm pretty dumb.

the only things i actually know, if you are an ordinary person want to be financially successful, is

1. pick a good mate, preferably a moneymaker who doesnt spend.
2. be cheap.
3. have a financial plan and stick to it not involving market timing. invest with a long time frame in mind
4. dont get divorced.
5. avoid debt and big expenditures.
6. try to make money

all the other bs i spouted, ever, just shit i read that resonated with me on some emotional level.

Submitted by The-Shoveler on August 4, 2020 - 4:47pm.

Coronita wrote:
The-Shoveler wrote:
Maybe they finally printed enough to hit point of no return LOL.

The interesting part is these days when the equity markets tank, so does gold and silver I think.

Looks like gold just took off past $2010/ounce

It almost seems like (in the case of Silver anyway) it has become the new hot momentum stock!! LOL

Submitted by Coronita on August 4, 2020 - 5:34pm.

I have SLV in my IRA and only have gold bullion. I tried buying silver bullion but too damn pain on the azz. The ones I did get, I gave them as stocking stuff gifts to relative kids. They were $15/each. They are probably double that now.

Submitted by gzz on August 5, 2020 - 2:57pm.

What’s painful about silver bullion? A $60 a year safe deposit box holds about $15k worth. A lot of banks will waive the charge too if you have their premium checking account or large balances. You can also just bury it in your yard like a pirate, just be sure to say where in your will, to be dramatically revealed in a sealed codicil.

Submitted by The-Shoveler on August 5, 2020 - 3:05pm.

I vote for the pirate method, only leave a really vague treasure map that you have to figure out clues like a puzzle.

Submitted by scaredyclassic on August 5, 2020 - 3:44pm.

the other retro method is silver ware.

eat with your investment.

not safe for machine washing.

silver may be the best forking investment of the year. it can be scary to catch a falling knife. but you'll spoon up the gains. the setting is perfect.

i cant get into this method though, because you ahve to handwash silver. who the hell would do that?

Submitted by sdrealtor on August 5, 2020 - 7:03pm.

My sister told me she and her husband have about 600 Silver eagles. Asked me what to do with them? I said sell em to scaredyclassic

Submitted by scaredyclassic on August 5, 2020 - 7:13pm.

i only buy paper. nothing real. thanks. except i am in the market for a giant mesmerizing pearl.

https://www.theonion.com/financial-exper...

Submitted by scaredyclassic on August 5, 2020 - 7:17pm.

sdrealtor wrote:
My sister told me she and her husband have about 600 Silver eagles. Asked me what to do with them? I said sell em to scaredyclassic

make really nice gifts too.

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