Gold. GOLD!!!!! Gooooollllllllllddddddd!!!!!!!!

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ChesusRice

Well-Known Member
Wow what is happening to the price of gold? Imagine if we were on the gold standard. We would be destroyed economically.

[h=3]By CHRISTIAN BERTHELSEN, DAVID WESSEL and GREGORY ZUCKERMAN[/h]Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.
Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.
 
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ChesusRice

Well-Known Member
Wonder how Ron Pauls portfolio is doing? Maybe he wont be able to retire after all. He has too many relatives who depend on him for a job.
 
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ChesusRice

Well-Known Member
Small investors in widely-held funds such as BlackRock Gold & General have suffered. The BlackRock fund, which has £1.6bn under management, has lost 21% of its value over the past month and 36% over the past six months. It invests in the shares of gold and metal mining companies – and these have fared even worse than the gold price.
Barrick Gold, the world's biggest gold miner, has seen its shares slump on the Toronto stock market from C$55 to just C$19 since last September. Newcrest Mining, an Australian gold miner that is the biggest holding in the BlackRock fund, has fallen from A$30 last September to A$17 this week.


 
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ChesusRice

Well-Known Member
But Ron Paul’s portfolio isn’t merely different. It’s shockingly different.
Yes, about 21% of Rep. Paul’s holdings are in real estate and roughly 14% in cash. But he owns no bonds or bond funds and has only 0.1% in stock funds. Furthermore, the stock funds that Rep. Paul does own are all “short,” or make bets against, U.S. stocks. One is a “double inverse” fund that, on a daily basis, goes up twice as much as its stock benchmark goes down.
The remainder of Rep. Paul’s portfolio – fully 64% of his assets – is entirely in gold and silver mining stocks. He owns no Apple, no ExxonMobil, no Procter & Gamble, no General Electric, no Johnson & Johnson, not even a diversified mutual fund that holds a broad basket of stocks. Rep. Paul doesn’t own stock in any major companies at all except big precious-metals stocks like Barrick Gold, Goldcorp and Newmont Mining.
Rep. Paul also owns 23 other miners – many of them smaller, Canadian-based “juniors” whose stocks are highly risky. Ten of these stocks have total market valuations of less than $500 million, a common definition of a “microcap” stock. Mr. Paul has between $100,010 and $326,000 (roughly 5% of his assets) invested in these tiny, extremely volatile stocks.
 
kelly4

kelly4

Well-Known Member
ChesusRice said:
But Ron Paul’s portfolio isn’t merely different. It’s shockingly different.
Yes, about 21% of Rep. Paul’s holdings are in real estate and roughly 14% in cash. But he owns no bonds or bond funds and has only 0.1% in stock funds. Furthermore, the stock funds that Rep. Paul does own are all “short,” or make bets against, U.S. stocks. One is a “double inverse” fund that, on a daily basis, goes up twice as much as its stock benchmark goes down.
The remainder of Rep. Paul’s portfolio – fully 64% of his assets – is entirely in gold and silver mining stocks. He owns no Apple, no ExxonMobil, no Procter & Gamble, no General Electric, no Johnson & Johnson, not even a diversified mutual fund that holds a broad basket of stocks. Rep. Paul doesn’t own stock in any major companies at all except big precious-metals stocks like Barrick Gold, Goldcorp and Newmont Mining.
Rep. Paul also owns 23 other miners – many of them smaller, Canadian-based “juniors” whose stocks are highly risky. Ten of these stocks have total market valuations of less than $500 million, a common definition of a “microcap” stock. Mr. Paul has between $100,010 and $326,000 (roughly 5% of his assets) invested in these tiny, extremely volatile stocks.
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What's your point?
 
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CC Dobbs

Well-Known Member
I am always surprised when seemingly rational people speak about gold as if it has some real value. Do you ever feel like you're being swindled? I am in favor of using Twinkies as a standard for commerce. I have begun hoarding them and now have quite a few so in my view I am very wealthy and all you gold nuts are riding the wrong horse. I am interested in trading my twinkies with other twinkie dealers. I am stating that the value of my twinkles is $4200/# and I willing to work with interested parties. This is a ground floor opportunity to enter into an emerging market, don't delay, call now, operators are standing by.
 
SirGreenThumb

SirGreenThumb

Well-Known Member
CC Dobbs said:
I am always surprised when seemingly rational people speak about gold as if it has some real value. Do you ever feel like you're being swindled? I am in favor of using Twinkies as a standard for commerce. I have begun hoarding them and now have quite a few so in my view I am very wealthy and all you gold nuts are riding the wrong horse. I am interested in trading my twinkies with other twinkie dealers. I am stating that the value of my twinkles is $4200/# and I willing to work with interested parties. This is a ground floor opportunity to enter into an emerging market, don't delay, call now, operators are standing by.
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That sucks that you invested so much in Twinkies, when they are about to be back up and running mass producing them once again. Looks like your stock just lost its value. Better get completely baked and have a feeding frenzy.
 
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NoDrama

Well-Known Member
ChesusRice said:
Wow what is happening to the price of gold? Imagine if we were on the gold standard. We would be destroyed economically.
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Except when you are on a gold standard there is no valuation in gold per dollar, making this entire piece of journalistic fervor a pile of shit, a puff piece with a HUGELY FLAWED premise.

I LOL at anyone who thought this article had an actual point other than to disparage people from buying gold.

I am sooooooo disheartened that gold that I bought for $320 is only worth $1400 Oh woe is me, such a terrible terrible investment. I should have stuck with Goldman Sachs, I could be up 30%


Edit: I also find it completely normal that the 2 most MSM influenced souls on the forum are trying to play the "I told you so" game.

Too bad ignorance flew over the cuckoos nest.
 
beardo

beardo

Well-Known Member
NoDrama said:
Except when you are on a gold standard there is no valuation in gold per dollar, making this entire piece of journalistic fervor a pile of shit, a puff piece with a HUGELY FLAWED premise.

I LOL at anyone who thought this article had an actual point other than to disparage people from buying gold.

I am sooooooo disheartened that gold that I bought for $320 is only worth $1400 Oh woe is me, such a terrible terrible investment. I should have stuck with Goldman Sachs, I could be up 30%
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Does your Gold ounce still weigh one ounce? Is an ounce of Gold still worth an ounce of Gold?

Ron Paul 2016, lets not have a fourth reich, say no to Nazi's, no drones please, I saw the terminator and thought it was a good movie but that world would be a terrible reality.
 
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NoDrama

Well-Known Member
CC Dobbs said:
I am always surprised when seemingly rational people speak about gold as if it has some real value. Do you ever feel like you're being swindled? I am in favor of using Twinkies as a standard for commerce. I have begun hoarding them and now have quite a few so in my view I am very wealthy and all you gold nuts are riding the wrong horse. I am interested in trading my twinkies with other twinkie dealers. I am stating that the value of my twinkles is $4200/# and I willing to work with interested parties. This is a ground floor opportunity to enter into an emerging market, don't delay, call now, operators are standing by.
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Twinkies can be made by the millions per day out of easily sourced materials. I dare you to try and create a gram of gold.Hell I dare you to try and dig a gram of gold out of the earth.
 
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NoDrama

Well-Known Member
beardo said:
Does your Gold ounce still weigh one ounce? Is an ounce of Gold still worth an ounce of Gold?
Which weighs more more, a pound of bricks or a pound of feathers?
Ron Paul 2016, lets not have a fourth reich, say no to Nazi's, no drones please, I saw the terminator and thought it was a good movie but that world would be a terrible reality.
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When the prices went down I actually borrowed money in order to buy more.

No one calls for the bursting of the denim bubble when JC Penny has a sale on Levi's, but when gold goes on sale, the media goes into a frenzy and the lemmings who worship the MSM as their all knowing god latch on.
 
ginwilly

ginwilly

Well-Known Member
This drop in gold is a bit fishy. We have governments buying billions of dollars in gold that probably doesn't exist and price drops... I'm still long on gold.
 
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ChesusRice

Well-Known Member
SirGreenThumb said:
That sucks that you invested so much in Twinkies, when they are about to be back up and running mass producing them once again. Looks like your stock just lost its value. Better get completely baked and have a feeding frenzy.
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He has the original recipe twinkies
 
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