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Originally posted by Solomons
I know...it's silly.Always hear people saying to invest in gold or silver for a SHTF scenario where the global economy plummets.I don't know about anyone else but i wouldn't trade a can of beans for a big gold bar in such a situation.
Originally posted by Wildbob77
Gold is not going to get you through a SHTF situation.
It is a hedge against inflation. If we go through a period of hyper inflation it will be a good thing to have because as your lose their purchasing power, gold will be worth more.
Originally posted by Wildbob77
People buy gold and silver not to drag with them as they bug out but as a medium of exchange should paper dollars lose their value.
BEAR MARKET UPDATE
October 10, 2003
In his recent October 3 issue of the Elliott Wave Theorist, Robert Prechter has given his latest status summary for the precious metals and stock markets. Based on the very recent events in both of these markets, his conclusions are that both are in the process of ending bear market rallies and resuming their downtrends. In the case of gold, it means resuming a downtrend that started at the 1980 price peak of about $800. Prechter expects this new down leg will end with the gold price below $200....
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Originally posted by Kaytagg
So, I notice that a lot of people are selling gold coins. I just want to know if anyone is buying them -- and if so, why?
Personally I think it's a dumb investment, a dumb survival strategy, and a dumb way of "preserving" wealth -- unless you wait 100 years -- and even then, there are way better investments than gold. So why are people buying cold coins?
It's also worth noting that anytime you buy a gold coin, you pay a premium for it which is at least 5% of the current value of gold, and you have to pay for shipping/handling, and you need a safe place to store it.