Please. Sell your Gold NOW! It's a trap.

Originally posted by gimme_some_truth

Originally posted by SquirrelNutz
reply to post by gimme_some_truth

 

Yeah, either way my intent to is to sell one - get some ca$h (and, congrats on a past 'investment') - and break the other one.

Reasonable?

sell one what? One gold?

I don't know if it is reasonable or not because I am not sure what you just said.... Though I did just get off work ( Night shift) and am tired.... so....

I will just assume you are being reasonable

I guess you missed this post, immediately above:

Originally posted by SquirrelNutz

Originally posted by GmoS719
reply to post by sbctinfantry

 

I don't think many of us own Gold.
I might be wrong, but I think that kind of stuff is reserved for the rich.

I have gold. I am certainly not rich - although, I obtained when I had a little more money to throw around, and was diversifying quite a bit.

Recently, I decided I wanted to have at least one of the 2 American Eagles (1oz.) I have broken down into fractional coins, so that if ever needed them, they would be more flexible for trading/bartering, or giving as gifts - hell, I don't know...

I contacted a rare coin shop who met by appointment only. I gave them my information. 30 minutes later I got a nice message from a gentleman saying he would love to talk me through the process as well as provide some other recommendations(?). His message said that he was only going to be in the office for another few minutes, but that if we didn't speak [today], he would contact me again first thing Monday morning. Very professional.

However I got no call today. Should I call them back?

[part of me feels like it's a sting or something lol

- am I not supposed to have gold? Does it have paperwork missing that I received from the company I bought it, I don't remember (don't think so)]

edit on 8/22/2011 by SquirrelNutz because: (no reason given)

reply to post by wisdomnotemotion


Quite the contrary. The price of money (debt) is at a decades high. This is the result of extreme and growing deflationary forces in the world that is oversupply, overcapacity, runaway technological advances and endless supply of dirt cheap labor. Small wonder that money is in such high demand. You´d have to have a screw loose to accumulate what money buys at this point.

The average person has no idea about this run on physical gold. It is not something that has ever been anything other than a 'risk' to them. The same people are now sitting on bonds and Tbills, Cds which in the past brought a tidy sum but no longer are worth the paper they are written on.

Sad, but it is still a good bet to hold some nuismatic coins in your profile. If you live in Zimbabwe, what good do diamonds and gold do you? If you were not holding when their economy crashed? They can be taken, they can get you killed.

Originally posted by antar
The average person has no idea about this run on physical gold. It is not something that has ever been anything other than a 'risk' to them. The same people are now sitting on bonds and Tbills, Cds which in the past brought a tidy sum but no longer are worth the paper they are written on.

Sad, but it is still a good bet to hold some nuismatic coins in your profile. If you live in Zimbabwe, what good do diamonds and gold do you? If you were not holding when their economy crashed? They can be taken, they can get you killed.

The price of T-bills and bonds is at a 60-year high actually which probably makes them worth a whole lot more than the paper they´re printed on.

What are you talking about? Gold is one of the most valueble metals in the world, no matter which way you look at it, it IS a valueble trade item no matter which way you put it. It is used for technology, such as computers, phones etc. There is a reason why the rothschilds have a bunch of it stored in a building.

Shill alert?

That's why I invested heavily in the other precious metals: Brass and lead.

Cheers.

Is OP The Bernanke? Did he get bored in Wyoming and decide to troll ATS? You're right Bernanke, gold isn't money, it's just a barberous relic held by central banks only because of tradition!!!! That's all Chavez wanted, he was nostalgic for tradition!!!! SELL SELL SELL!!!!! By some real estate that still has to fall in value by another 50% before it bottoms out!!!! Or better yet, buy a 10 year bond that the government will never be able to pay you back for!!!! Oh and keep your money in your 401K so Congress can nationalize them!!!! WHATEVER YOU DO, KEEP ALL OF YOUR SAVINGS IN DOLLAR-DENOMINATED ASSETS, THE BERNANKE AND HIS MASTERS WANT AS MANY SLAVES AS POSSIBLE AFTER WE CONTROL THE DEMOLITION OF THE DOLLAR!!!!!

Get real. Though you may now be employable at CNBC.

One has to realize that the big players called central banks who issue the world's paper Fiat Currencies, ONLY trade amongst themselves in GOLD Bullion.

Since no one has mentioned the benefit of gold in electronics, it isn't merely it's conductivity, but the fact that it doesn't tarnish/corrode as Silver and Copper, though both technically are better conductors do.

This is why the fingers/contacts on all computer components are in fact gold plated due to the fact corrosion build up kills/negates conductivity.

But as for the price of gold currently at all time highs, and why we are seeing this big move towards capturing Libya's Gold....is because Venezuela has sought to withdraw their Nation's Bullion from the Vaults in London in order to move their GOLD Bullion home to their own vaults in Venezuela.

Of course that GOLD belonging to Venezuela has likely been depleted and now the Powers That Be via their Armed forces aka NATO are scrambling to cover the Bullion owed to the Venezuelans and hence as to why the price of physical Gold has risen so dramatically to all time highs.

Its the same PONZI scam as it pertains to banks and physical cash, they haven't any/much on hand in the form of deposits because they lend out what they do have to make profit upon.

The Venezuelan's Gold is likely out in circulation and NATO and the Powers That Be are scrambling to acquire GOLD to cover Venezuela's before the word gets out that just as with the US Fort Knox, that the coffers are actually empty.

Following a 6 month stalemate in which neither side had attained any advantage, it suddenly took just a few days for the Libyan rebel forces to steamroll unopposed into Tripoli. While we are confident that the political aftermath of this outcome will be very much comparable to what is happening in Egypt right now, many wonder why it is that the Libyan situation has progressed with such speed. Perhaps the answer can be found in the 143.8 tons of gold held by the Libyan Central Bank. Granted it is nowhere near close the 366 tons of gold that Venezuela supposedly has per the WGC, most of it likely held offshore and not being repatriated, the question of where the global gold cartel may find some of the much needed physical to satisfy Chavez' demands has been now answered. Of course we assume that said gold has not already departed Libya in direction Caracas over the past 6 months. Which, in retrospect, we probably should, as it would explain why gold is now at $1875 and rapidly rising.

www.zerohedge.com...

reply to post by Talltexxxan


Gold is largely useless and the cost of extracting silver is maybe $10 an ounce if that. It´s just another bubble.

Gold is not in a bubble. Less than 1% of the worlds population owns actual physical gold as an investment.

The price of physical gold is not going up, its just taking more dollars to buy the same amount of gold because of the dollar devaluation, much same as other commoditites. Its called inflation.

The spot price of Gold has been aritificially supressed for decades by governments, because the price of Gold is inversely proportional to the strength of the dollar.

Historically, The spot price of gold should be trading at around $5500/oz right now, just to keep up with real inflation.

Its no where near its "Mania" phase yet, we are still in the first few years of a bull market.

There will be a time to sell your gold, but now is not that time.

So wrong.

The value of gold is based on its scarcity.

If gold were so easy to come by, then it would be worth nothing. But since it takes many men many hours just to refine a small amount, and because it has so many applications, gold will always be in demand.

When TSHTF, you will be able to use it for bartering and such, whereas the only thing people will want your precious paper for is wiping their asses.

What did I learn from this thread? Disagree with OP and your a troll....lol

So how much is cash for gold paying you to spout this carp to get people to sell their gold? Buy real estate is your option? Unless it is some sweet property in the boonies somewhere not going to touch the housing market....that puppy still has a long way to fall until it bottoms out. People buy gold in times of worry to protect their assets. Many people believe the global economy is in a downward spiral, fiat currencies will erode so they want something that will never lose its primary value - that is precious metals. (yes, the price will go up and down, but they will always be worth something)

If you are buying gold/silver your not really looking to make a profit, it is being used to protect assets. If the dollar crashes and is more valuable as toilet paper, the gold and silver will still have value. But you are correct that having gold and silver is not the only thing one can do to protect yourself in these troubled times. Invest in a water filtration system, have adequate food stored and yes, plenty of firearms and ammo.....and if you are able, yes - invest in some land away from urban areas.


Also, in all aspects of investing, don't put in more then you can afford.

Gold has been and will always have value all over the world.
When it comes down to it, its a precious metal.
Its not that the price of gold is going up, its that the dollar is loosing its value in relation to gold.

However, gold as money is difficult to spend. This is where silver is more handy.
If I would buy gold, I would do it as jewelry, where it has a function.
And you dont run into this issue:

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States".

But it can still be sold for cash if needed.



en.wikipedia.org...

Gold is far from scarce and it´s largely useless.

Meanwhile money (debt) is close to a 100 year high.

Something´s got to give, time will tell what it is.

Originally posted by KaiserSoze

Originally posted by ALF88
Soros didn't sell physical gold, he sold gold ETFs.

When do people learn that its not the same.

edit on 22-8-2011 by ALF88 because: (no reason given)

You beat me to it, I figure if I buy gold or silver and don't have it physically in my possession
I might as well be investing in magic beans or pixie dust (not to be confused with stripper glitter).

Its sort of like comparing horses to unicorns.

If I want physical gold for jewelry ill go to a jeweler... If I want to invest in a product, I want paper. You don't invest in coke by buying 6 truckloads to keep in your back yard.

reply to post by galdur

Gold is far from scarce and it´s largely useless.

That is one of the most uninformed statements I have heard.

Gold is used in electronics, computers, dentistry, aerospace, currency, glass making, jewelry etc. etc. It is one of the most useful minerals on the planet, is easy to work with does not tarnish or degrade etc.

Get a clue...
geology.com...

People will never learn. The same people have been saying the same thing for years.

In the year 2000 the spot price of gold ranged between $260-$290/oz.

By 2004 the spot price of gold ranged between $370-$450/oz and the same people were saying "its in a bubble you better sell now while you can".

By, 2006 the spot price of gold ranged between $550-$650/oz and the same people were saying "its in a bubble you better sell now while you can".

By 2008 the spot price of gold ranged between $850-$1000/oz and the same people were saying "its in a bubble you better sell now while you can".

Now in 2011 the spot price of gold has ranged between $1380-$1900/oz and the same people are still spouting the same nonsense "its in a bubble you better sell now while you can".

The same can also be said of Silver. In 2000 the spot price of Silver was around $5/oz, now in 2011 its trading over $40/oz.

So while these naysayers have been telling me to sell for the last 10 years my net worth has gone up by atleast 6 fold, all because I have been making small gold/silver purchases every few months instead of letting my money sit in a bank account and get devalued by the excessive printing of fiat FRN's.

Mostly, I find the people who are telling everyone to sell have never actually owned any gold/silver as an investment. It seems that now they are just jealous because they think they missed the boat on an opportunity of a lifetime over the last 10 years. To that I say, I'ts not too late. Come on in the water is fine. We are going to ride this bull market well into the 2020's. You didn't get in on the ground floor, but this elevator ride has only just begun.

Morons will pile into bubbles. As so often before, best of luck.

Starting with the first bubble from 1999 on it has been the case that people started buying gold.
But it really became a flight to safety with the collapse of housing bubble.
The main reason for the gold price to rise is a lack of trust in the financial system.
Not scarcity, nor inflation, but Lack of trust, anger about the fraudulant system and a little help from Max Kaiser. (buy silver tou bankrupt JPM)
Yes the one that will take over BAC.
Ohh lets not forget Marc Faber, (to not own gold is to trust the government)
With everyone eager to own a bit of gold, i do not think now it is a good time to buy