inflating Posted August 24, 2011 Share Posted August 24, 2011 http://uk.reuters.com/article/2011/08/24/business-us-gold-investor-sell-idUKTRE77M7XL20110824 "Gold being as volatile as it is, it can go down in $100 to $200 and not really blink an eye," Cuggino said.Longer-term gold holders say significantly cutting gold positions ahead of the Jackson Hole meeting could backfire I don't have any gold anyway. Let me try to imagine a future situation - a person sells their gold back into fiat paper, for a period of time the fiat paper they get back is nominally and in real terms many times the original fiat paper they gave to the gold vendor. But, if somebody believes that fiat is going to go hyper, is there any point in selling your gold until a new financial system is established and the new fiat money system replacing the collapsed fiat money system is in place? The additional consideration is, will the masters of the new fiat set in stone a price for gold per weight unit that essentially takes the price down a lot or increases the price a lot? Or could they even make gold ownership or trading subject to some sort of rules, taxes, confiscation if you don't agree to sell at the price they dictate etc? Lots of considerations if TSHTF I think. That said, I wish I had the facilities to have bought and stored my own physical when the price action was far less north than where it is now. I did read advice on forums to buy but had to resist it, obviously not one of my better decisions so far Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted August 24, 2011 Share Posted August 24, 2011 The additional consideration is, will the masters of the new fiat set in stone a price for gold per weight unit that essentially takes the price down a lot or increases the price a lot? Or could they even make gold ownership or trading subject to some sort of rules, taxes, confiscation if you don't agree to sell at the price they dictate etc? Lots of considerations if TSHTF I think. That said, I wish I had the facilities to have bought and stored my own physical when the price action was far less north than where it is now. I did read advice on forums to buy but had to resist it, obviously not one of my better decisions so far Except that price controls don't work. And the new masters will immediately inflate, the system is designed to inflate. And the market will correct the real price. Quote Link to comment Share on other sites More sharing options...
inflating Posted August 24, 2011 Author Share Posted August 24, 2011 Except that price controls don't work. And the new masters will immediately inflate, the system is designed to inflate. And the market will correct the real price. That was a speed of light reply, Ken, wow Quote Link to comment Share on other sites More sharing options...
Seydel Posted August 24, 2011 Share Posted August 24, 2011 Gartman is the only name I'm familiar with in that article. Amongst bulls he must be Jon Nadler's closest rival to questionable honour of being the most disrespected gold commentator on the face of the earth. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted August 24, 2011 Share Posted August 24, 2011 There have been regular warnings throughout the last 3 years that "gold has peaked" etc, and every time gold has continued up. Personally I think it's just insiders trying to get people to sell their gold with false information. The markets are very jittery, the sensible option (to preserve wealth) is gold, so naturally there is a strong media push to put people off selling everything and buying gold. IMO. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted August 24, 2011 Share Posted August 24, 2011 There have been regular warnings throughout the last 3 years that "gold has peaked" etc, and every time gold has continued up. RB used to dish them out every 2 weeks. Quote Link to comment Share on other sites More sharing options...
inflating Posted September 6, 2011 Author Share Posted September 6, 2011 What do the press's gold bulls or pundits who said time to cash in say now? New record today. OK, it did dip after they said cash in, but ... look today Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted September 6, 2011 Share Posted September 6, 2011 That said, I wish I had the facilities to have bought and stored my own physical when the price action was far less north than where it is now. I did read advice on forums to buy but had to resist it, obviously not one of my better decisions so far What's stopping you buying now? There's a hell of a lot of highly respected investors saying Gold will go much higher than it is now. Just because you didn't get in early doesn't mean the opportunity is gone, just means its going to cost you a little more that's all. Start with an ounce... Quote Link to comment Share on other sites More sharing options...
inflating Posted September 6, 2011 Author Share Posted September 6, 2011 What's stopping you buying now? There's a hell of a lot of highly respected investors saying Gold will go much higher than it is now. Just because you didn't get in early doesn't mean the opportunity is gone, just means its going to cost you a little more that's all. Start with an ounce... I've absolutely nowhere safe to store it, even an ounce Quote Link to comment Share on other sites More sharing options...
Spot Posted September 6, 2011 Share Posted September 6, 2011 I've absolutely nowhere safe to store it, even an ounce Bean Can Safe Plug Socket Safe Quote Link to comment Share on other sites More sharing options...
inflating Posted September 6, 2011 Author Share Posted September 6, 2011 Bean Can Safe Plug Socket Safe I can think of better disguises than those, but disguised is not guaranteed safe, so until I think of where it would be safe, the sum total of my gold will be an Argos signet ring I bought for probably just a few quid decades ago. Probably worth $500 now Quote Link to comment Share on other sites More sharing options...
SaintJay Posted September 6, 2011 Share Posted September 6, 2011 I've absolutely nowhere safe to store it, even an ounce Hide it in plain sight. Get yourself a room like this: Quote Link to comment Share on other sites More sharing options...
inflating Posted September 6, 2011 Author Share Posted September 6, 2011 Hide it in plain sight. Get yourself a room like this: Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted September 6, 2011 Share Posted September 6, 2011 I've absolutely nowhere safe to store it, even an ounce I carry a couple of oz on my person in case I of emergencies, even when on holiday - you never know when the currency of a country may go up in flames, best to carry real money in case you need to fly or boat yourself the fook out of dodge. A Canadian Maple isn't much larger than a £1 coin, weighs a whole lot more though, there must be an infinite amount of places you can hide one of these Quote Link to comment Share on other sites More sharing options...
inflating Posted September 6, 2011 Author Share Posted September 6, 2011 I carry a couple of oz on my person in case I of emergencies, even when on holiday - you never know when the currency of a country may go up in flames, best to carry real money in case you need to fly or boat yourself the fook out of dodge. A Canadian Maple isn't much larger than a £1 coin, weighs a whole lot more though, there must be an infinite amount of places you can hide one of these Yes well believe me I've thought about it for some time, maybe 2 years, and watched the price go up and up, I'm abroad at the moment anyway and feel very uneasy about carrying small valuables especially through airport security screenings - especially the poorer countries where £2 an hour is all they get paid as security. If I get a permanent place in the UK again I can think of a few places to put coins but I know I still would worry because as an old friend of mine once said "Thieves can almost smell valuables from outside" Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted September 6, 2011 Share Posted September 6, 2011 I carry a couple of oz on my person in case I of emergencies, even when on holiday - you never know when the currency of a country may go up in flames, best to carry real money in case you need to fly or boat yourself the fook out of dodge. That's impressive. Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted September 18, 2011 Share Posted September 18, 2011 ... because as an old friend of mine once said "Thieves can almost smell valuables from outside" Have you ever been burgled? I'm asking, because I have. 5 times. Plus 3 cars broken into. And I understand the reason for the old adage "a criminal is a person too stupid to old down a proper job" Seriously; I've seen Visa cards in plain sight ignored, in favour of a stack of "Now That's Music!" CDs. Quote Link to comment Share on other sites More sharing options...
Errol Posted September 18, 2011 Share Posted September 18, 2011 Have you ever been burgled? I'm asking, because I have. 5 times. Plus 3 cars broken into. Jesus. Where do you live? Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted September 18, 2011 Share Posted September 18, 2011 Jesus. Where do you live? Lots of places, in more than one country. But all of the above crimes happened in just two places: Bradford and Liverpool. I won't draw any conclusions from the above data Quote Link to comment Share on other sites More sharing options...
inflating Posted September 19, 2011 Author Share Posted September 19, 2011 Have you ever been burgled? I'm asking, because I have. 5 times. Plus 3 cars broken into. And I understand the reason for the old adage "a criminal is a person too stupid to old down a proper job" Seriously; I've seen Visa cards in plain sight ignored, in favour of a stack of "Now That's Music!" CDs. I empathise, it's awful. You also get some people who are daft enough to put empty boxes outside their house that show to the world they just bought an expensive TV or laptop or phone. You'd be amazed what goes on and who's observing what you put out fot the recyling or garbage - I put an acquaintance's old golf shoes out for textile recycling in the official bag, within 30 minutes I saw a small van pull up and a bloke quickly took them, not the council but a night time opportunist. (Textiles are collected by a large signed recycling truck that also takes cans, paper etc.) He then drove up the nearby cul de sac to see if there were any more goodies. Dare say he probably helps himself to stuff from outside closed charity shops too Quote Link to comment Share on other sites More sharing options...
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