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Originally posted by snafu7700
there is one currency that has never lost value in modern history: gold. it is the one form of currency that is pretty much guaranteed to still be worth something....unless of course we are reduced to a purely bartering economy, but if that is going to be the case, you should be able to see it coming, and be able to buy as many goods as possible with the gold you are holding in the first couple of days before it gets really bad.
Originally posted by MystikMushroom
Anyone mention silver seriously?
There is a precious metals exchange here in my town that I can go into and say, "I'd like a 10 ounce bar of silver" and I pay cash...a book IS pulled out, but only for tax reasons. I could sign any name I wanted...
Silver has been steadily rising...sure, it's not nearly as valuable as gold--but it is also a good conductor and could be used in electronics.
I concur with the idea that you can't eat precious metals--but on the other hand, if you get out a week or two before all hell breaks loose--you just might be albe to liquidate your metals at a significant profit and buy some food, ammo and/or guns.
Originally posted by DYepes
Well strangecraft there is talk on these forums now about the Chinese getting ready to dump one trillion US dollars. I have about 1500$ in cash savings...
Should I take 30-60% of that now and convert it into bullion to be on the safe side for the next few months? IF I start hearing about it on more reputable websites, I think I will have to do that. Maybe turn the remainder of it into small short term I series bonds?
Assuming the Chinese do go through with thier dumping plan in the next couple of months, would this be a proper route to take?
Originally posted by Frimurar
You'll lose money if you put it into gold now. Gold is nearing its peak price for the next year unless something surprising happens. I've yet to see a good analysis that predicts it'll push $700 USD.
Originally posted by Yarcofin
Originally posted by Frimurar
You'll lose money if you put it into gold now. Gold is nearing its peak price for the next year unless something surprising happens. I've yet to see a good analysis that predicts it'll push $700 USD.
I strongly, strongly, strongly disagree. I think once this correction levels off, it will be a perfect time to buy gold, at least in the long term. Oil and Gold are usually tied together, but oil is way overpriced now. A bar of gold used to buy at TON of barrels of oil, but that number has dropped significantly. Either oil is dropping back to $40/barrel, or gold is going up to $1,000 an ounce very shortly, and I'd put my money on gold. I think that over the next 10 years, gold will have a very steady increase in value.
I'm planning on putting about 10% of my money into gold bullion when I'm older and can actually afford to invest a lot more. Right now I can only buy about two to four stocks at any given time.
The only problem with gold is selling it. And also gold doesn't pay dividends, it just sits there.
[edit on 7-3-2007 by Yarcofin]
Originally posted by Anonymous ATS
dr SC, out of interest, why $20 notes? interested to hear your reasoning.