metals moving up strong

gold up $50 in the last 3 days, copper spot is at $3.72 and headed higher

Now if Ferrous would just go to .10 a pound and stay that way for more than a week, I be happy!

im hauling all mine right now, i do not trust this manipulated market

Originally Posted by jghilino

gold up $50 in the last 3 days, copper spot is at $3.72 and headed higher

Higher gold and silver is a bad sign. This means that your dollars are getting weaker. As I like it when gold and silver goes up cause its my business. It must be realise that an ounce of gold in Roam bought a good toga and two good pairs of sandals. That's the same as today. Gold doesn't rise in value its just an indicator for hows your moneys doing.

Eric

Originally Posted by unknownk

So a decent suit and 2 pairs of shoes cost $1650 these days, don't think so. Actual ancient gold coins were very small, kind of like a 1/10th ounce coin and it wasn't exactly 99.999% pure either (I guess you meant one of those instead of a ounce). People invest in gold because you get no interest at the bank for deposits and everything else is a scam (stocks, municipal bonds for bankrupt cities and states, etc).

You may well be correct on the details but. it doesn't take a math wiz to figure out $35 dollar gold is now $1700, and a nickle candy bar is now $1.25. sooo which would you have rather burred in the back yard 50 years ago ?

Originally Posted by unknownk

So a decent suit and 2 pairs of shoes cost $1650 these days, don't think so. Actual ancient gold coins were very small, kind of like a 1/10th ounce coin and it wasn't exactly 99.999% pure either (I guess you meant one of those instead of a ounce). People invest in gold because you get no interest at the bank for deposits and everything else is a scam (stocks, municipal bonds for bankrupt cities and states, etc).

I think you are not taking into account the market you are buying you suit. Youngstown and Dayton a 400.00 suit is a good price. In Roam, New York, or Washington DC 1200.00 is about right. Besides a 400.00 suit is an OK one not a decent one.

The gold you buy today is not 5-9's either except for analytical gold or the Canadian 5-9 maple leaf. gold has been refined to pure for a very long time.

Analysis of the Roman aureus shows the purity level usually to have been near to 24 carat gold in excess of 99%. Aureus - Wikipedia, the free encyclopedia

Eric

I spoke with some people today, consensus seems that pushing the tax onto the job creators ($400,000+ per year income) is a very bad solution. Unemployment is going to skyrocket and the backlash of that is going to be less taxes getting paid into the system. So its a double negative.

The next hurdle is budget cuts. After that is the debt ceiling. After that is another round of QE. 3 more big negatives that are going to hit the market this year.

Originally Posted by jghilino

. After that is another round of QE. 3 more big negatives that are going to hit the market this year.

QE ?? Help me out. I'm little lost on this one.

Originally Posted by skylinejack

QE ?? Help me out. I'm little lost on this one.

It's short for "quantitative easing", one of those stop gap measures the gov has been trying to use to prop up the economy. They have used this 3 times last year in which they buy back their own bonds in an effort to keep long term interest rates down. If interest rates rise too much the obligations on our government debts spiral out of control and we all prepare for the inevetable train wreck. That's my understanding of it anyway.

Edit to add, as of yet I have heard nothing of a fourth round of QE being planned.

Originally Posted by unknownk

50 years ago would have been a perfect time to invest in stocks (or buying a house in a decent area of the country) not for burrying cash (coin or paper) in the back yard. Sure a candy bar might have cost $.05 but you were not making the same wages as you are today (wages peaked in the 1970's for most jobs). The country was growing, all kind of industries we take for granted now were just starting up, and good investments were easy to find. These days the economy is shrinking, nothing of value is coming down the road to invest in, and people with money just want something to invest in to keep what they have (and mostly in Asia where their currency is still suspect). Tossing a couple krugerands under the matress won't help the average man or woman much these days, it didn't the last time gold peaked either.

When everyone is advertising for you to invest in gold and silver you know thats the time to get out of it. It is a good time to be in e-waste (until all the old 486/PPro/US made telecom and motherboards are recycled anyway). You are better off paying off debt and spending LESS then you make, worked for my parents generation anyway.


People seem to have a fascination for those days like they were the best of the world. Sure people could graduate highschool and walk down to the steel mills and get a good paying job same day, but they also died young with broken bodies because of the work and lack of modern medicine.

You never saw me advocate buying gold @ 1700. you can't eat gold.

what are your reference points between then and now ?

mine are that, I lived then and now.

what is the better moral compass. Ozzi then giving advice to David and Ricky, or Ozzi now with brain cells so screwed up from decades of drugs and booz he can't even speak let alone give advice to his gene pool.

who would you rather have your kids learn morality from, Beaver cleaver, or the Wounder years or would you choose KK and Konye. Just askin.

all of this is a moot point though. We are here and we aren't going back.

the train is already off the track, has been for years. the elitists are just trying to keep it on the road bed till they can jump off on a nice soft landing point before it and the rest of us dissaperar into the obis just ahead. my .02

i think gold is still a buy even at $2000, because congress has just shown again that they plan to run the country on inflationary spending