THE SKY IS FALLING: Gold At $825--Remember when I wanted to buy 2 months ago at $550?

DriftingByTheStorm
Posts: 8,684
Uh yeah.
This is starting to get REALLY scary.
Most of you (particularly the ones who claim "i don't trust gold") probably won't even comprehend the real disturbing undertones of this announcement.
GOLD IS AT EIGHT HUNDRED AND TWENTY FIVE FUCKING US DOLLARS PER OUNCE.
Gold is supposed to stay at some sort of CONSTANT price.
If gold is GOING THROUGH THE ROOF that simply means that the dollar is falling and that investors ARE SCARED.
REALLY SCARED.
Gold has nearly DOUBLED in value in TWO MONTHS!
The rising price means that the value of the dollar required to purchase it is going down (verifiable by looking at the rising price of OTHER commodities) and also that scared shitless investors are plunking their money in to gold, buying up the available supply ... because they know that gold at least (theoreticaly) HOLDS its value, and doesnt plummit suddenly.
HOLYSHIT.
It will probably be at $1000 by the end of january, OR SOONER ... that is my bet ...
but then again, i didn't even believe myself when i said the same two months ago.
Look where we are now.
The american financial sky is falling ... and falling FAST AND HARD.
WAKE UP WORLD.
:(
This is starting to get REALLY scary.
Most of you (particularly the ones who claim "i don't trust gold") probably won't even comprehend the real disturbing undertones of this announcement.
GOLD IS AT EIGHT HUNDRED AND TWENTY FIVE FUCKING US DOLLARS PER OUNCE.
Gold is supposed to stay at some sort of CONSTANT price.
If gold is GOING THROUGH THE ROOF that simply means that the dollar is falling and that investors ARE SCARED.
REALLY SCARED.
Gold has nearly DOUBLED in value in TWO MONTHS!
The rising price means that the value of the dollar required to purchase it is going down (verifiable by looking at the rising price of OTHER commodities) and also that scared shitless investors are plunking their money in to gold, buying up the available supply ... because they know that gold at least (theoreticaly) HOLDS its value, and doesnt plummit suddenly.
HOLYSHIT.
It will probably be at $1000 by the end of january, OR SOONER ... that is my bet ...
but then again, i didn't even believe myself when i said the same two months ago.
Look where we are now.
The american financial sky is falling ... and falling FAST AND HARD.
WAKE UP WORLD.
:(
If I was to smile and I held out my hand
If I opened it now would you not understand?
If I opened it now would you not understand?
Post edited by Unknown User on
0
Comments
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couldnt agree more, if that $ is correct
i knew shit would get ungly when warren buffet and bill gates said they were moving heavily into gold0 -
Why do you think gold is supposed to stay at a "constant" price? That makes no sense. Gold is a commodity and its price will go up and down based on the supply of gold and the demand for gold, as well as the value of whatever you're using to buy it.
The recent rise in the price of gold represents movement in the market towards safer investments following the credit collapse, not some sign of the oncoming apocalypse. Try to relax.0 -
DriftingByTheStorm wrote:Uh yeah.
This is starting to get REALLY scary.
Most of you (particularly the ones who claim "i don't trust gold") probably won't even comprehend the real disturbing undertones of this announcement.
GOLD IS AT EIGHT HUNDRED AND TWENTY FIVE FUCKING US DOLLARS PER OUNCE.
Gold is supposed to stay at some sort of CONSTANT price.
If gold is GOING THROUGH THE ROOF that simply means that the dollar is falling and that investors ARE SCARED.
REALLY SCARED.
Gold has nearly DOUBLED in value in TWO MONTHS!
The rising price means that the value of the dollar required to purchase it is going down (verifiable by looking at the rising price of OTHER commodities) and also that scared shitless investors are plunking their money in to gold, buying up the available supply ... because they know that gold at least (theoreticaly) HOLDS its value, and doesnt plummit suddenly.
HOLYSHIT.
It will probably be at $1000 by the end of january, OR SOONER ... that is my bet ...
but then again, i didn't even believe myself when i said the same two months ago.
Look where we are now.
The american financial sky is falling ... and falling FAST AND HARD.
WAKE UP WORLD.
:(
drifting; why do you post what i told you 2 months ago? those that control the american financial sky are there because they are smart. i told you what's going on and you don't listen. gold is going up because those with the gold are not selling it. they know that when the effects of global warming hit the us; the dollar will be useless. the tundra and permafrost need about 1 more degree of warmth to dissapear into tnto the oceans. look around the world and see what's happening. thus far; the us and canada have been the only areas not effected but it's coming.0 -
onelongsong wrote:drifting; why do you post what i told you 2 months ago? those that control the american financial sky are there because they are smart. i told you what's going on and you don't listen. gold is going up because those with the gold are not selling it. they know that when the effects of global warming hit the us; the dollar will be useless. the tundra and permafrost need about 1 more degree of warmth to dissapear into tnto the oceans. look around the world and see what's happening. thus far; the us and canada have been the only areas not effected but it's coming.
Well I DID listen.
I just wasn't in a position to cash out my stocks and buy an illiquid commodity.
What i SHOULD have done, looking back, is LEVERAGE every penny i had ...
take out a signature loan or three, and margin my account to buy gold ... then i could have sold it all now, covered the loans and raked in bank. then buy all over again because GOLD WILL CONTINUE TO GO UP.
FFG:
I say gold is supposed to "stay constant", because unlike oil, it is not a depleting asset ... gold sticks around ... you melt it and remelt it ... the supply is fairly constant ... thus, the price should be FAIRLY constant ...
if the price is DOUBLING that is a reflection of inflation driving the price up ... but as other commodities have NOT doubled yet, either gold is the leading indicator of inflation, or, as you say more are buying than selling ...
I would also say that if gold goes up another 25-50% you ARE looking at the middle stages of financial apocalypse ... this being the beginning.
We surely can agree to disagree, no?
but for the price to DOUBLE, A WHOLE LOT OF PEOPLE MUST BE BUYING ...If I was to smile and I held out my hand
If I opened it now would you not understand?0 -
DriftingByTheStorm wrote:Well I DID listen.
I just wasn't in a position to cash out my stocks and buy an illiquid commodity.
What i SHOULD have done, looking back, is LEVERAGE every penny i had ...
take out a signature loan or three, and margin my account to buy gold ... then i could have sold it all now, covered the loans and raked in bank. then buy all over again because GOLD WILL CONTINUE TO GO UP.
FFG:
I say gold is supposed to "stay constant", because unlike oil, it is not a depleting asset ... gold sticks around ... you melt it and remelt it ... the supply is fairly constant ... thus, the price should be FAIRLY constant ...
if the price is DOUBLING that is a reflection of inflation driving the price up ... but as other commodities have NOT doubled yet, either gold is the leading indicator of inflation, or, as you say more are buying than selling ...
I would also say that if gold goes up another 25-50% you ARE looking at the middle stages of financial apocalypse ... this being the beginning.
We surely can agree to disagree, no?
but for the price to DOUBLE, A WHOLE LOT OF PEOPLE MUST BE BUYING ...
i agree to a point. the best stradagy would have been to sell only the gold you needed to pay off the loans. when the economy crashes; money will be worthless and you'll need that gold to buy supplies. gold is a constant in that no matter who; what; or where; gold is the means of exchange. always has been for thousands of years. the price will not continue to rise. for a while yes; but when our coasts are flooded; prices will soar for goods. you could buy an acre of my high land for 2 ozs of gold today. when the coasts are flooded and the demand for dry land is high; you'll need 2 to 3 pounds of gold to buy it.
does that example help?0 -
onelongsong wrote:does that example help?
Yes.
It reaffirms my ambition to get heavily invested in real estate... of the NON-costal variety.If I was to smile and I held out my hand
If I opened it now would you not understand?0 -
DriftingByTheStorm wrote:Uh yeah.
This is starting to get REALLY scary.
Most of you (particularly the ones who claim "i don't trust gold") probably won't even comprehend the real disturbing undertones of this announcement.
GOLD IS AT EIGHT HUNDRED AND TWENTY FIVE FUCKING US DOLLARS PER OUNCE.
Gold is supposed to stay at some sort of CONSTANT price.
If gold is GOING THROUGH THE ROOF that simply means that the dollar is falling and that investors ARE SCARED.
REALLY SCARED.
Gold has nearly DOUBLED in value in TWO MONTHS!
The rising price means that the value of the dollar required to purchase it is going down (verifiable by looking at the rising price of OTHER commodities) and also that scared shitless investors are plunking their money in to gold, buying up the available supply ... because they know that gold at least (theoreticaly) HOLDS its value, and doesnt plummit suddenly.
HOLYSHIT.
It will probably be at $1000 by the end of january, OR SOONER ... that is my bet ...
but then again, i didn't even believe myself when i said the same two months ago.
Look where we are now.
The american financial sky is falling ... and falling FAST AND HARD.
WAKE UP WORLD.
:(
who has you believing that by gold going up in price will somehow make our economy collapse???
i hope smaller countries read this post0 -
DriftingByTheStorm wrote:FFG:
I say gold is supposed to "stay constant", because unlike oil, it is not a depleting asset ... gold sticks around ... you melt it and remelt it ... the supply is fairly constant ... thus, the price should be FAIRLY constant ...
if the price is DOUBLING that is a reflection of inflation driving the price up ... but as other commodities have NOT doubled yet, either gold is the leading indicator of inflation, or, as you say more are buying than selling ...
I would also say that if gold goes up another 25-50% you ARE looking at the middle stages of financial apocalypse ... this being the beginning.
We surely can agree to disagree, no?
Certainly "gold sticks around", but the active supply of gold on the market and the current demand for gold do not. The same ounce of gold is going to cost a lot more during times of high demand than during times of low demand. Hence, price fluxuations.
You seem to be saying that gold's increase is somehow unique amongst commodities, yet this is not the case. Commodity prices have been increasing greatly over the last few years. If anything, gold is a latecomer to the trend this time around.
Whenever you see the price of gold quickly increasing, you are likely seeing exactly what is happening today: investors seeking a safe haven during times of turmoil. Whenever you see the price of gold steadily increasing, you are likely seeing the affects of value-eroding inflation. We have a bit of both going on right now, and gold's ceiling is probably well above its current levels.
Today's gold behavior closely mirrors the same activity seen in the 80s during the S&L "crisis". This is nothing new. Gold will settle and we'll have some new inflationary pressure in the financial markets 10 years from now that will lead to the same dire predictions of catastrophe.0 -
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5/23/2011- An utter embarrassment... ticketing failures too many to list.0 -
From a broke phd student's point of view.. it makes no difference0
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DriftingByTheStorm wrote:Yes.
It reaffirms my ambition to get heavily invested in real estate... of the NON-costal variety.
don't buy shite. use good judgment. realestate has never been a bad investment if you use common sense. find high ground and look where people are moving to. suburbs always grow. they always have and always will. population growth assures it. find land that's cheap and out in the "boonies" yet able to support life. (hours drive to employment etc). never buy rentals. if you want to make the big money; you have to sit and wait.0 -
farfromglorified wrote:Certainly "gold sticks around", but the active supply of gold on the market and the current demand for gold do not. The same ounce of gold is going to cost a lot more during times of high demand than during times of low demand. Hence, price fluxuations.
You seem to be saying that gold's increase is somehow unique amongst commodities, yet this is not the case. Commodity prices have been increasing greatly over the last few years. If anything, gold is a latecomer to the trend this time around.
Whenever you see the price of gold quickly increasing, you are likely seeing exactly what is happening today: investors seeking a safe haven during times of turmoil. Whenever you see the price of gold steadily increasing, you are likely seeing the affects of value-eroding inflation. We have a bit of both going on right now, and gold's ceiling is probably well above its current levels.
Today's gold behavior closely mirrors the same activity seen in the 80s during the S&L "crisis". This is nothing new. Gold will settle and we'll have some new inflationary pressure in the financial markets 10 years from now that will lead to the same dire predictions of catastrophe.
i agree with everything but the last statement. 10 years from now; those who survive will be living like we did in the 1800s. everything in life starts over. now it's time for humanity to start over.0 -
onelongsong wrote:i agree with everything but the last statement. 10 years from now; those who survive will be living like we did in the 1800s. everything in life starts over. now it's time for humanity to start over.
Funny that you believe ten years from now we'll all be living like we did in the 1800s while at the same time telling someone to invest in real estate. I believe the Watchtower Society has an opening, if you're interested.0 -
farfromglorified wrote:Funny that you believe ten years from now we'll all be living like we did in the 1800s while at the same time telling someone to invest in real estate. I believe the Watchtower Society has an opening, if you're interested.
Also funny that he tells Candians this: "just a bit of o'l cowboy advice; the higher something goes; the farther it has to fall. back in the 70's i believe; gold reached about $700 USD and when everyone invested; it dropped to about $250 USD. these are numbers from memory so they're not exact; but they're close.
__________________"
Yet is optimistic about gold's long-term value, when he uses gold as the negative example.
I used a similar example the last time we had this discussion, and talked about a friend of mine losing half his savings because he jumped on the precious metals bandwagon with everything he had. If you are in it for the short term, definitely play the movements (both up and down). If you are an investor, have patience and use reason. We're in a bumpy period now. Why does this particular bumpy period portend a coming apocalypse?"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/080 -
farfromglorified wrote:Today's gold behavior closely mirrors the same activity seen in the 80s during the S&L "crisis". This is nothing new. Gold will settle and we'll have some new inflationary pressure in the financial markets 10 years from now that will lead to the same dire predictions of catastrophe.
I think we are actualy in agreement, except for my oversimplifications.
The bottom line is that gold does TYPICALY remain at a constant price, UNLESS there is some great fear that is causing a HUGE BUY-UP!
That is what i meant, when i said "stays constant".
If the economy is doing "okay" and the sky IS NOT falling, gold remains fairly stable, and LOW.
When gold starts skyrocketing it is an indicator, as you say ... and not a good indicator.
Your last paragraph has me worried that you are missing the boat though.
Yes, it is nothing new.
It is EXACTLY like the S&L scare.
However here is the difference.
Our economy WAS fundamentaly much more sound than it is right now... the dollar has lost a lot of value since the 80's and THE NUMBERS HERE ARE MUCH BIGGER THAN S&L.
I mean the accounting tricks and bailout necessary to keep this SIV thing afloat are going to make S&L pale in comparison.
IT COST NEARLY TWO TRILLION TO THE CITIZENS OF THIS COUNTRY TO BAIL OUT PRIVATE BANKS AND S&LS DURING THE 80s (and into the 90s)
HOW MUCH IS IT GOING TO COST THIS TIME? MUCH MUCH MORE. IT IS MUCH MUCH WORSE! It is compounded by those same gimmicky bullshit accounting practices that the government thumbs-uped in the 80s. I hear pundits on MSNBC calling for MORE GIMMICKS -- "we need to allow these banks to take these SIVS off balance sheet" ... WHAT? YOU WANT TO DEFRAUD THE PUBLIC? DO WHAT?
THAT IS THE DIFFERENCE.
That, and the FED HAS FLAT OUT STATED THAT THEY CAN NOT CONTINUE TO CUT THE RATE!
That means we are ON THE BRINK.
The system cant save itself anymore.
Cutting the rates at this point is the beginning of a suicidal dollar crash.
That is how I see it.
If you know something i dont, then speak up.
But it seems to me that the Fed is hard up for a solution. ALL there solutions equate INFLATION ... ALWAYS ALL THE TIME 100% OF THEM, PERIOD!
Bailout (in all it's forms) = Inflation
"Adding Liquidity" to the system = Inflation
Cutting Rates = Inflation
AMERICA CAN NOT TAKE MUCH MORE INFLATION.
Where is the disagreement here?
We are about to send our dollar PLUMMETING.
It already is in a free fall ...
Do we want to shoot holes in the wings of the glider on its way down as well?If I was to smile and I held out my hand
If I opened it now would you not understand?0 -
DriftingByTheStorm wrote:Uh yeah.
This is starting to get REALLY scary.
Most of you (particularly the ones who claim "i don't trust gold") probably won't even comprehend the real disturbing undertones of this announcement.
GOLD IS AT EIGHT HUNDRED AND TWENTY FIVE FUCKING US DOLLARS PER OUNCE.
Gold is supposed to stay at some sort of CONSTANT price.
If gold is GOING THROUGH THE ROOF that simply means that the dollar is falling and that investors ARE SCARED.
REALLY SCARED.
Gold has nearly DOUBLED in value in TWO MONTHS!
The rising price means that the value of the dollar required to purchase it is going down (verifiable by looking at the rising price of OTHER commodities) and also that scared shitless investors are plunking their money in to gold, buying up the available supply ... because they know that gold at least (theoreticaly) HOLDS its value, and doesnt plummit suddenly.
HOLYSHIT.
It will probably be at $1000 by the end of january, OR SOONER ... that is my bet ...
but then again, i didn't even believe myself when i said the same two months ago.
Look where we are now.
The american financial sky is falling ... and falling FAST AND HARD.
WAKE UP WORLD.
:(
then quit whining and pissing yourself in terror here and go out and fucking buy some and shut the fuck up about it. if you're so ABSOLUTELY CERTAIN the apocalypse is upon us, what the fuck are you bothering to get our approval for your decision for? put your money where your mouth is and go scoop up that gold.0 -
DriftingByTheStorm wrote:Yes.
It reaffirms my ambition to get heavily invested in real estate... of the NON-costal variety.
you're going to listen to the guy who thinks that if everyone had a semi-automatic attached to the dashboard of their car road rage would stop and no one would ever get hurt? the guy who has admitted he has a stockpile of weapons and is just waiting for the us government to invade his house in arizona to kill them all? this guy is still living in 1880 in tombstone, arizona. you might want to take his advice with a grain of salt.0 -
soulsinging wrote:then quit whining and pissing yourself in terror here and go out and fucking buy some and shut the fuck up about it. if you're so ABSOLUTELY CERTAIN the apocalypse is upon us, what the fuck are you bothering to get our approval for your decision for? put your money where your mouth is and go scoop up that gold.
a. i clicked the exclamation point. sorry. STFU is a bit over the top.
b. i don't need anyones approval.
I use the place as a soundingboard to get feedback.
I use it to gather public sentiment and see what people around the world think about things.
The fact that i "rant and rave" is indicative of the fact that i think things are much more serious than some of you comprehend.
A lot of this stuff is only being talked about by the media in very small soundbytes (SIV in particular) ... although GOLD IS ALL OVER THE NEWS. MSNBC has been talking about it NONSTOP today. THat and dollar "slumping".
This is not fucking fantasy.
This is the new sad reality.
I'm not in "terror" all though i am by no means happy about things.
I do wish some of you would wake up a little as far as what is going on around here.
Things look like SHIT out there right now.
And some of you are saying this is just a "correction".
This is a huge fucking "bubble" bursting, although "bubble" doesnt do it justice, because what we have here is a banking industry that is full of lies and a government that is manipulating the inflation numbers ...
what is really going on is the dollar is slumping because the fed keeps cutting rates to try to save itself, and throwing more money into the system to bail out its rich owners (yes, THE FED IS OWNED BY CITIBANK AND BANK OF AMERICA, AND JP MORGAN, LOOK IT UP!)
SO while the bank fucks america to save itself, we are taking a nose dive.
The banks print more money to buy gold, and then dump the cash on us.
It sucks.If I was to smile and I held out my hand
If I opened it now would you not understand?0 -
farfromglorified wrote:Funny that you believe ten years from now we'll all be living like we did in the 1800s while at the same time telling someone to invest in real estate. I believe the Watchtower Society has an opening, if you're interested.
he's ALREADY living like it's the 1800's. haven't you read him? he admits to gunning down two people in the streets, stockpiling weapons, wrasslin buffaloes.... he's a regular john wayne who's seen too many westerns and lost touch with reality.0 -
soulsinging wrote:you're going to listen to the guy who thinks that if everyone had a semi-automatic attached to the dashboard of their car road rage would stop and no one would ever get hurt? the guy who has admitted he has a stockpile of weapons and is just waiting for the us government to invade his house in arizona to kill them all? this guy is still living in 1880 in tombstone, arizona. you might want to take his advice with a grain of salt.
I've been trying to get into real estate for the past 5 years. It has taken me a while because my first financial partner flaked out, the second one had a family crisis, and now i've moved to where the market is MUCh cheaper and i can get in by myself.
I said REaffirmed my belief. I don't base my decisions on anyone elses opinion. I just listen and discriminate based on my own internal senses.
I trust him a lot more than i trust your outlook, as off the deep end as his approach may be ... it is still fundamentaly sound. I get the feeling when the shit hits the fan, HE will be doing great. You might be sucking wind though.
sheesh.If I was to smile and I held out my hand
If I opened it now would you not understand?0
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