dumb-tabloid reader Posted October 10, 2008 Share Posted October 10, 2008 (edited) Any gold bugs here who can help, I can travel anywhere?? Thanks Edited October 10, 2008 by dumb-tabloid reader Quote Link to comment Share on other sites More sharing options...
exception Posted October 10, 2008 Share Posted October 10, 2008 I wouldn't bother, panic has been priced in to gold already making it expensive relative to it's future value. In the coming recession / depression demand for gold as an industrial material will fall, and with it the value. The biggest risk is actually deflation. There is no logical reason for gold to be a good hedge against any of the current biggest risks. Gold is no longer equivalent to money. Think about it, would you want to buy gold if your family was about to be turfed out of their house? I will probably be shot down by some insane gold bug for this but opinions vary - get over it ... Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted October 10, 2008 Share Posted October 10, 2008 (edited) I wouldn't bother, panic has been priced in to gold already making it expensive relative to it's future value. In the coming recession / depression demand for gold as an industrial material will fall, and with it the value. The biggest risk is actually deflation. There is no logical reason for gold to be a good hedge against any of the current biggest risks. Gold is no longer equivalent to money. Think about it, would you want to buy gold if your family was about to be turfed out of their house?I will probably be shot down by some insane gold bug for this but opinions vary - get over it ... Then I'll jump in with some support before the flaming starts. Good post sp. Edited October 10, 2008 by Crash Gordon Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted October 10, 2008 Share Posted October 10, 2008 Any gold bugs here who can help, I can travel anywhere??Thanks not tellin ya For your own good. Quote Link to comment Share on other sites More sharing options...
Errol Posted October 10, 2008 Share Posted October 10, 2008 (edited) The biggest risk is actually deflation. For god's sake, do we have to have this debate again ... Gold is the best thing to hold in a deflation. It's not a commodity. It's a currency - the ultimate one. At present all other currencies are being judged against it. When the COMEX market defaults the price will double overnight. Edited October 10, 2008 by Errol Quote Link to comment Share on other sites More sharing options...
ravedave Posted October 10, 2008 Share Posted October 10, 2008 I'm in same position as yourself DTR. However, I've decided that the horse has already bolted on this one. It's been mentioned in mainstream media recently which means that once the idea gets into public knowledge then it's probably too late. * However, I stand to be corrected by those who know more on the subject. Quote Link to comment Share on other sites More sharing options...
housestag Posted October 10, 2008 Share Posted October 10, 2008 I wouldn't bother, panic has been priced in to gold already making it expensive relative to it's future value. In the coming recession / depression demand for gold as an industrial material will fall, and with it the value. The biggest risk is actually deflation. There is no logical reason for gold to be a good hedge against any of the current biggest risks. Gold is no longer equivalent to money. Think about it, would you want to buy gold if your family was about to be turfed out of their house?I will probably be shot down by some insane gold bug for this but opinions vary - get over it ... Used to baulk paying £241 for a krug/ £221 for a brit. £140 +vat ofr a kg of zilver. Theres plenty more panic to unleash from the system. Quote Link to comment Share on other sites More sharing options...
Bjørn Posted October 10, 2008 Share Posted October 10, 2008 It's not a commodity. It's a currency - the ultimate one. ********! When was the last time you, or any other goldbug, bought groceries or paid a utility bill with heavy metal? Quote Link to comment Share on other sites More sharing options...
abc123 Posted October 10, 2008 Share Posted October 10, 2008 Any gold bugs here who can help, I can travel anywhere??Thanks You can buy it right away by going to an asian jewellers. They'll sell you gold coins or biscuits. Quote Link to comment Share on other sites More sharing options...
garybug Posted October 10, 2008 Share Posted October 10, 2008 If you are in London, Bairds will sell to you OTC (but at a margin, and you need to pick it up from their new East Ham offices - get a cab). They also have an office in Hatton Garden, but I beliwve it's trade only, although they may be convinced if you are buying a large enough volume, in which case, don't get a cab, get a tank. See the Gold threads on the other forum http://www.housepricecrash.co.uk/forum/ind...8099&st=135 Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted October 10, 2008 Share Posted October 10, 2008 For god's sake, do we have to have this debate again ...Gold is the best thing to hold in a deflation. It's not a commodity. It's a currency - the ultimate one. At present all other currencies are being judged against it. When the COMEX market defaults the price will double overnight. could you explain/describe your exit strategy with your gold? Quote Link to comment Share on other sites More sharing options...
qwertyuiop Posted October 10, 2008 Share Posted October 10, 2008 dont send anything to bullionvault.com - they lose your money. Quote Link to comment Share on other sites More sharing options...
kilroy Posted October 10, 2008 Share Posted October 10, 2008 (edited) For god's sake, do we have to have this debate again ...Gold is the best thing to hold in a deflation. It's not a commodity. It's a currency - the ultimate one. At present all other currencies are being judged against it. When the COMEX market defaults the price will double overnight. or it could halve. Depends which way round the traders are. Also, I was going to nibble some but the seeing the panic in the markets only moving gold by $60 or so makes me think the bottom will fall out of the gold market on the technical bounce we are going to see in equities and bonds anytime now. The market says gold at the moment is a pure panic play not an inflation play (look at index linked gilts and TIPS if you don't believe me). Once the panic subsides watch out below. Just my honest opinion Edited October 10, 2008 by kilroy Quote Link to comment Share on other sites More sharing options...
housestag Posted October 10, 2008 Share Posted October 10, 2008 ********!When was the last time you, or any other goldbug, bought groceries or paid a utility bill with heavy metal? When was the last time you woke up and saw 4035 on the ftse. Travel to Australia in 25hours, what boat can do that? Quote Link to comment Share on other sites More sharing options...
piece of paper Posted October 10, 2008 Share Posted October 10, 2008 Any gold bugs here who can help, I can travel anywhere??Thanks Book yourself into the Savoy in London and ask the bloke on the door if he knows of any bullion dealers in the area. p-o-p Quote Link to comment Share on other sites More sharing options...
Guest mattsta1964 Posted October 10, 2008 Share Posted October 10, 2008 Any gold bugs here who can help, I can travel anywhere??Thanks There's no harm in holding a little physical gold but as others have stated, you can't buy bread in Tesco with it. Spend your money on things that will help you get through this crisis. Food for example! Warm clothing for the winter, candles, practical stuff. Quote Link to comment Share on other sites More sharing options...
Tomji Posted October 10, 2008 Share Posted October 10, 2008 Once some currencies tank completly and cannot be just restarted with another Fiat currency due to loss of confidence a new "gold pound"/ "gold dollar" currency may be started. At this time the value of gold will skyrocket. Quote Link to comment Share on other sites More sharing options...
Errol Posted October 10, 2008 Share Posted October 10, 2008 There is already discussion about a gold backed rouble/dinar. Quote Link to comment Share on other sites More sharing options...
batthink Posted October 10, 2008 Share Posted October 10, 2008 Any gold bugs here who can help, I can travel anywhere??Thanks Get directly from royalmint the price is the same as dealers at the moment. they deliver, you can buy online. Quote Link to comment Share on other sites More sharing options...
Guest mattsta1964 Posted October 10, 2008 Share Posted October 10, 2008 Once some currencies tank completly and cannot be just restarted with another Fiat currency due to loss of confidence a new "gold pound"/ "gold dollar" currency may be started.At this time the value of gold will skyrocket. The gold spot price will not skyrocket. It is rigged by Rothschilds. They control the gold market. What is likely to happen is a black market price will develop and gold will exchange for much higher prices than the official spot price. Quote Link to comment Share on other sites More sharing options...
Extradry Martini Posted October 10, 2008 Share Posted October 10, 2008 Gold is expensive here. It is only being held up by its value as an alternative to the financial system (as the inflation outlook has turned deflationary). In my view, the risks to the financial system are going to subside through near-term intervention, so gold would be the last thing I would buy right now... Quote Link to comment Share on other sites More sharing options...
rnicoll Posted October 10, 2008 Share Posted October 10, 2008 I wouldn't bother, panic has been priced in to gold already making it expensive relative to it's future value. In the coming recession / depression demand for gold as an industrial material will fall, and with it the value. The biggest risk is actually deflation. There is no logical reason for gold to be a good hedge against any of the current biggest risks. Gold is no longer equivalent to money. Think about it, would you want to buy gold if your family was about to be turfed out of their house?I will probably be shot down by some insane gold bug for this but opinions vary - get over it ... If you want to avoid gold, my best advice would be looking at alternative currencies (Euro? AUD? NZD?), or possibly index linked savings certificates http://www.nsandi.com/products/ilsc/index.jsp - which go up based on RPI. Quote Link to comment Share on other sites More sharing options...
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