Silver & GOLD:Rare Coins vs. Bullion - The Patriot Act and Investing In Gold- Do You?

245

Comments

  • jlew24asu
    jlew24asu Posts: 10,118
    godpt3 wrote:
    I'm buying stock in Alcoa. The tin-foil hat loonies on this board alone should keep the stock doing just fine.

    this place sure is entertaining. huh? post of the day right there :D:D:D
  • even flow?
    even flow? Posts: 8,066
    know1 wrote:
    I don't think there's any guarantee that anyone would honor anything. I definitely do not get the "value" of gold. It's just a hunk of metal.


    Kind of like oil eh? But people sure kill for that. You really think if it started to go to hell in a handbag that pebbles and stones would be traded? I think they would start with something like the precious metals and then move on down the line to sticks and stones.
    You've changed your place in this world!
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    even flow? wrote:
    Kind of like oil eh? But people sure kill for that. You really think if it started to go to hell in a handbag that pebbles and stones would be traded? I think they would start with something like the precious metals and then move on down the line to sticks and stones.

    look at what the native Americans traded for 1000's of years..beads, arrowheads (shaped stones) and animal pelts. Fur trade anyone?
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    godpt3 wrote:
    I'm buying stock in Alcoa. The tin-foil hat loonies on this board alone should keep the stock doing just fine.

    That would almost be funny if it wasn't so self serving...
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • even flow?
    even flow? Posts: 8,066
    RolandTD20Kdrummer wrote:
    look at what the native Americans traded for 1000's of years..beads, arrowheads (shaped stones) and animal pelts. Fur trade anyone?


    Understood. Then somebody raped the land and upped the ante for what is traded and what that value is. Now we reap what we have sewn.

    For the record they also paddled boats and didn't use oil. :eek: ;)
    You've changed your place in this world!
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    RolandTD20Kdrummer wrote:
    look at what the native Americans traded for 1000's of years..beads, arrowheads (shaped stones) and animal pelts. Fur trade anyone?

    yeah.
    but do you even KNOW how overinflated beads are right now?

    fuck.
    i wouldn't put a single penny in to beads right now.
    total junk.

    ;)
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • godpt3
    godpt3 Posts: 1,020
    RolandTD20Kdrummer wrote:
    That would almost be funny if it wasn't so self serving...

    Especially since it's been shown that aluminum can lead to Alzheimer's.
    "If all those sweet, young things were laid end to end, I wouldn't be the least bit surprised."
    —Dorothy Parker

    http://img210.imageshack.us/img210/6902/conspiracytheoriesxt6qt8.jpg
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    even flow? wrote:
    Understood. Then somebody raped the land and upped the ante for what is traded and what that value is. Now we reap what we have sewn.

    For the record they also paddled boats and didn't use oil. :eek: ;)

    Much of the world was unaware and in it's infancy then so to speak. They had no idea some white man from the east with unheard of technologies would show up one day and say "hey let's all be friends until our cultural differences get in the way, then we'll start making more gunpowder and you can be our slaves or become topsoil"

    We all know each other now and what it's all about. I suppose if aliens landed from outer space it would be something similar.

    What's that movie?... with that girl from sex in the city's head on some dog...ahh..yeah..Aliens Attack.. or something like that.
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    godpt3 wrote:
    Especially since it's been shown that aluminum can lead to Alzheimer's.

    it's bad for those old fillings too...

    I found that out as a child hastily biting into an Aero bar and not minding the wrapper.
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • godpt3
    godpt3 Posts: 1,020
    RolandTD20Kdrummer wrote:
    What's that movie?... with that girl from sex in the city's head on some dog...ahh..yeah..Aliens Attack.. or something like that.

    *Mars Attacks*
    "If all those sweet, young things were laid end to end, I wouldn't be the least bit surprised."
    —Dorothy Parker

    http://img210.imageshack.us/img210/6902/conspiracytheoriesxt6qt8.jpg
  • LikeAnOcean
    LikeAnOcean Posts: 7,718
    I love how Cramer has a nervous break down about the economy, but then tries to convince everyone not to be scared and not sell.
  • jeffbr
    jeffbr Seattle Posts: 7,177
    DriftingByTheStorm wrote:
    calling my broker in 10 minutes, unless anyone can give me a better reason not to.

    Did you cash out?
    "I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
  • Ahnimus
    Ahnimus Posts: 10,560
    Get some scrap transmissions and extract the platinum, likewise, get some PCBs and extract the gold leads.

    I would, but I'm lazy.
    I necessarily have the passion for writing this, and you have the passion for condemning me; both of us are equally fools, equally the toys of destiny. Your nature is to do harm, mine is to love truth, and to make it public in spite of you. - Voltaire
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    jeffbr wrote:
    Did you cash out?
    sadly, no.

    actually.
    i checked my credit card balance AND its almost a WASH!

    argh!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    consumer debt.
    yikes.

    maybe now is a good time to take a tax loss and start from nil?

    :(
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • jeffbr
    jeffbr Seattle Posts: 7,177
    DriftingByTheStorm wrote:
    sadly, no.

    actually.
    i checked my credit card balance AND its almost a WASH!

    argh!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    consumer debt.
    yikes.

    maybe now is a good time to take a tax loss and start from nil?

    :(

    Well, that is definitely a consideration. If you were getting out of the market just to get out, I remain convinced that would be the wrong move. But if you're using the proceeds to pay down expensive credit card debt, that may be a really good move. I don't know what your portfolio looks like, but say the market is just average this year and you see a 10% increase in value. If at the same time you're carrying a big credit card debt at 19% you're losing money. So you just might be better off paying that down and starting over. Plus, as you mentioned you'll realize a capital loss to use against your earnings which will be nice when tax time comes. Tough choices for sure.
    "I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
  • know1
    know1 Posts: 6,801
    jeffbr wrote:
    Well, that is definitely a consideration. If you were getting out of the market just to get out, I remain convinced that would be the wrong move. But if you're using the proceeds to pay down expensive credit card debt, that may be a really good move. I don't know what your portfolio looks like, but say the market is just average this year and you see a 10% increase in value. If at the same time you're carrying a big credit card debt at 19% you're losing money. So you just might be better off paying that down and starting over. Plus, as you mentioned you'll realize a capital loss to use against your earnings which will be nice when tax time comes. Tough choices for sure.

    Solid advice. In general, you have no business investing if you have consumer debt.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    know1 wrote:
    Solid advice. In general, you have no business investing if you have consumer debt.

    yeah.
    i dunno though.
    they teach you all about "leverage" in business classes,
    and recommend your business be at least 50% "invested" in debt ...

    i'm not about to try to rationalize consumer credit as "debt investment",

    but one could argue that cashing out 20k in stock to pay for 10K of debt (i'd probably loose about 6 or 7k to taxes on cash out, like i said, i have an EXTREMELY low pennys-on-the-dollar cost basis for a lot of my stocks) ... is a poor move.

    Even if that 20K is only getting me 500-1000 a year in capital appreciation and dividends, the 10k debt is only costing me $50 a month in interest (i run at 7.99% interest on my card) ...

    I'm still running at -100 to +400 dollars a year on that ...

    and if i sell i've just lost ALL potential upside on my stock and any income.
    :(

    whose really to say?

    Jeff?
    anyone?
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • onelongsong
    onelongsong Posts: 3,517
    DriftingByTheStorm wrote:
    Ok.
    With out sounding like a total freak,
    the market has me scared shitless right now.

    I don't know what is going to happen. no one does.
    but my gut just isn't groovin' on this shit.

    I am 90% confident in 1 thing ... when i wake up today (okay, it's 5 am and i am still up from yesterday) ... i am most likely going to sell my stock. all of it.
    yes ... all of it.

    i can't take it.
    it's up. it's down.
    cramer says we're all gonna die.
    the fed throws money at us.
    the dollar goes down.
    iran is the devil.
    wall mart sucks.

    i don't care.
    i don't want to think about it.

    DOES ANYONE OWN GOLD?

    I am most likely going to start digging in to it heavy.
    i don't know where to start.
    i like the south american shit here: http://www.steinbergs.com/
    the stuff from the 1700's
    it speaks to my inner gold lover.

    ok.
    so maybe i should be practical and buy the new buffalo US mint coins?

    i dunno.

    Will they try to confiscate it when the economy tanks?

    Anyone?

    Ok.
    so i erased and de-emotionalized a lot of my original post (yes the above is de-emotionalized, believe it) ...

    i need a less crazy person to give me a barometric indicator?

    or i could probably just use some sleep.

    let me go work on that.


    ooh but looking at old gold coins is SO MUCH FUN.
    why didn't i start doing this years ago?
    my portfolio in stock is still pretty much what it was ....
    which is to say, unimpressive at best.
    :(

    i've been saying that gold is the best investment for years now. i live in an area where gold can be found in almost every wash (dry stream) or where ever water flows and there's always a place to sell it. land is also a good investment. as long as the population grows; you'll never lose money on land.
    here's my opinion:
    as the sea level rises; people will have to relocate. most of the population lives near water. this is going to cause an economic crash. the indian islands are needing to evacuate as we speak and towns in alaska are currently being relocated. as the waters rise; sewage is mixed with the water making the area toxic. if you own land you'll be able to set your price as these people will need somewhere to go.
    as for gold; it's easy to sell and hard to trace. old coins are nice but won't hold value in an economic collapse. they're only worth what someone is willing to pay for them. during hard times; you won't find someone to pay you say $100 for an old dime.
    you're a visionary if you see what's coming. manufacturing will have to stop to be relocated crushing the market. those who live in low areas will have to leave their homes. let's face it; who's going to buy a house that's under water? same for businesses. a $2 million building in manhattan is worthless even if there's only an inch of water in it.
    gold and land have always been the best investments.
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    The price of gold today is 666 an ounce.

    The end of the world?

    i THINK SO.
    :)

    edit: oops... that's the FUTURES price of gold.
    it's actually at 657 for a physical troy ounce of the shiny shit.
    :D
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    DriftingByTheStorm wrote:
    The price of gold today is 657

    The price of gold TODAY is 763!

    It is up ANOTHER HUNDRED DOLLARS.

    Betting it hits 800 by end of month.

    IS ANYONE FOLLOWING THIS "SIV SCANDAL"?

    THE END OF THE WORLD?

    Friday was "Black Friday" :(

    DIG THIS, WE'RE FUCKED:

    Banks Are Screwed -- You Are Screwed
    From The Article wrote:
    Shares in Bank of America slumped yesterday after it revealed a worse than expected plunge in third-quarter profits on the back of nearly $4 billion (£1.96 billion) worth of writedowns and trading losses.
    From The Article wrote:
    Bank of America Third Quarter Earnings Per Share Decline 31%
    From The Article wrote:
    The investment banking division recorded a 93 per cent drop in profits to $100 million
    From The Article wrote:
    On Monday, Citigroup announced a 57 per cent decline in third-quarter net income
    From The Article wrote:
    On Wednesday, JPMorgan reported a 70 per cent drop in third-quarter profit at its investment banking division
    From The Article wrote:
    JPMorgan’s retail bank, which operates under the Chase brand, saw profits fall 14 per cent to $2.21 billion as weakening house prices prompted a sixfold increase in credit loss provisions to $680 million.
    From The Article wrote:
    On the same day, Washington Mutual, America’s third-biggest mortgage lender, announced that its third-quarter profits fell by more than two thirds, from $748 million to $210 million.
    From The Article wrote:
    Etrade Financial, the online brokerage, added to the carnage on Wednesday as it increased provisions for loan losses to $187 million in the third quarter, from $30 million in the previous three months. The group also wrote down its securities portfolio by $197 million, taking it to an overall loss of $58 million, compared to a $153 million profit the year before.

    GREAT NEWS, HUH?

    And like i said, the media is doing their fucking damnedest to keep this SIV "Scandal" \ Clusterfuck \ Economic Dive Bomb out of the news.

    WHEN THAT STORY BREAKS,
    THE MARKET IS GONNA TANK.
    BIG TIME.

    Ladies and gents.
    I'd say it's time to seriously reappraise your "investment" strategy.

    Unless you have some vision of soaring profits in the nearterm, it is probably time to think about getting the fuck out!

    Seriously.

    :(
    If I was to smile and I held out my hand
    If I opened it now would you not understand?

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