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

NoDrama said:
One major problem with this whole thing.

They are comparing HOUSEHOLD income of 2006 ( $49,300) versus individual income in 1913.($750)

Most households have more than one person working.

Average income is $27,800.

This whole post is shit, unadultered 100% snow job.

realfactbias?" more like realstupidpeoplewillbelievethis
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Except the result doesn't change. Two workers in 1913 still had less purchasing power than two workers today.

The value of $1 has declined, but since we have far more dollars, purchasing power has increased.
 
toke, you are completely ignoring technology in regards to purchasing power.


although it could have nothing to do with the conversation, I started drifting after about page 50. If so... nevermind, i'll go back to lurking this thread.
 
ginwilly said:
toke, you are completely ignoring technology in regards to purchasing power.

although it could have nothing to do with the conversation, I started drifting after about page 50. If so... nevermind, i'll go back to lurking this thread.
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What do you mean by ignoring technology?
 
ginwilly said:
toke, you are completely ignoring technology in regards to purchasing power.


although it could have nothing to do with the conversation, I started drifting after about page 50. If so... nevermind, i'll go back to lurking this thread.
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Technology cannot improve lives or make expensive things easier to produce. The dollar is the greatest invention of all time and will last forever. Silly boy.
 
tokeprep said:
Since gold has little utility, it's prone to being a bubble asset. I think gold speculators themselves probably ran the prices up, betting against QE over the past few years thinking that inflation and gold prices would skyrocket. Neither happened. Facing impatient investors who have lost faith in gold, some of these investments were probably liquidated in order to meet redemptions. The decreasing price fed further investor impatience, which led to more liquidations and more redemptions. I haven't investigated, so this is just musing on my part.
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Couldn't have been the ton of paper gold that flooded the market over two days last month, no no, your unresearched theory is correct.

Lets just ignore reality altogether.

Elephant, sky planes, DISHWASHER!!
 
Harrekin said:
Couldn't have been the ton of paper gold that flooded the market over two days last month, no no, your unresearched theory is correct.

Lets just ignore reality altogether.

Elephant, sky planes, DISHWASHER!!
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Over two days last month? The last time I checked, gold was under $1,400 an ounce today. You're ascribing that to events more than 2 weeks ago? So tell me, when is the recovery going to come if it was all paper nonsense and not reality?
 
The Dollar lost 100% of its value in 1971 and the USA defaulted on all of her debts. Then they came up with a brand new currency and called it a "Dollar". Not many were the wiser. Comparing the dollar of 2013 to the dollar of 1913 is exactly the same as arguing that Pigs are the same thing as Chickens.
 
NoDrama said:
The Dollar lost 100% of its value in 1971 and the USA defaulted on all of her debts. Then they came up with a brand new currency and called it a "Dollar". Not many were the wiser. Comparing the dollar of 2013 to the dollar of 1913 is exactly the same as arguing that Pigs are the same thing as Chickens.
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Stop trying to speak sense to a Keynesian, replies of:

Waffles! Dolphins! Internal combustion engines!

Shall suffice.
 
NoDrama said:
The Dollar lost 100% of its value in 1971 and the USA defaulted on all of her debts. Then they came up with a brand new currency and called it a "Dollar". Not many were the wiser. Comparing the dollar of 2013 to the dollar of 1913 is exactly the same as arguing that Pigs are the same thing as Chickens.
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Except that your dollars both have purchasing power. In 1913, an average worker earned the equivalent of under $18,000 in purchasing power. Today, an average worker earns something like $27,000 in purchasing power. Just as people paid rent and bought food with their 1913 dollars, I do exactly the same thing with mine. And I get more than they did for hundreds of hours less work in substantially safer, easier working conditions. You can whine all you want, but reality is reality.

You cannot bitch about inflation destroying the dollar when an average worker only earned $750 in 1913. Even a minimum wage worker makes more than that in a single month today (and for less work). If your theories were correct, life would be far worse today than it was in 1913. Obviously that assertion is laughable.
 
Balzac89 said:
Assets are moving in one direction. The Dow will move in the opposite direction when the wealthy decide its over valued and the sell off starts. Where do you think the sell off starts Dow at 16,000 or 25,000. Gold at 1,000 or Gold at 500?
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Holy haberdashery, Batman!!!

Don't even talk about gold @ $500/oz. It gets me all hot and bothered. I actually had my checkbook out and ready to go and I have no idea how it even got in my hand.
 
MuyLocoNC said:
Holy haberdashery, Batman!!!

Don't even talk about gold @ $500/oz. It gets me all hot and bothered. I actually had my checkbook out and ready to go and I have no idea how it even got in my hand.
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I doubted it for a long time. But there will be no recovery in Gold for a long time.

No one wants to be left without a chair, but you can't cause a panic by selling all at once.

Maybe wait to buy gold. It is your choice.
 
budsmoker87 said:
people aren't "far better off" today than they were in 1913. People actually owned assets then, nobody owns anything now
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liar, you know you didnt build that, and you can totally own the bank note that says you owe the bank $250k on a house that is only worth $90K, lotta people own that little collectible.
 
Balzac89 said:
To bad she is dragging down silver with her.
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I'd consider it an awesome physical buying opportunity... The reason the price dropped is because there's such a quantity of paper people are selling to trade in for the physical metals.

My prediction? There isn't a fraction of the real gold they trade daily, you try take delivery on your paper and see what happens ;)

Why do you think Germany is repatriating half their gold from the Federal Reserve?
 
Balzac89 said:
I doubted it for a long time. But there will be no recovery in Gold for a long time.

No one wants to be left without a chair, but you can't cause a panic by selling all at once.

Maybe wait to buy gold. It is your choice.
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The experts are forecasting 1100 an ounce. That isnt so bad. Even if it went into freefall It would still recover some.
Stocks are better investments right now and that is why investors are getting out of gold
 
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