Why buy gold?

I didn't know where to post this, so if this is the incorrect forum mods can you please re-locate it.

My question is why do people here this it is a good idea to buy gold?

Personally I think it is pretty stupid, even as a long term investment strategy. So many times have I seen people here "claim" they have put the majority of their savings into gold. I doubt this is true, because this means you are often buying gold at its peak, around $1200, only to have it settle at 60% or so lower than that.

Gold really is a stupid investment strategy for poor people that don't know any better and think the currency is going to collapse, or that the share market is somehow rigged.You are better off putting your money into buying Berkshire Hathaway class B shares which is actually backed by a diversified portfolio of sustainable, long term, consistent growth shares.

The only time gold really spikes is when poor people get scared they will lose their life savings (in the event of a recession for example) and put their money into gold. If you can predict peoples periodic stupidity you probably could make a killing off gold.

So basically, ATS (specifically those buying gold), why are you dumb and why don't you do your own research instead of listening to people like Alex Jones? Is it because you hate money? Please explain.

Also in this note, why are people taking their cash out of the banks. It is only going to be devalued due to inflation. At least a basic savings account allows you to just beat out inflation.

when the Anunnaki come from the sky to collect, you will need it to pay them for your soul!

(:

reply to post by SpeachM1litant


Wow aren't you the economics expert. Yeah gold is terrible, please keep on not buying it and please central banks keep manipulating the gold prices down by shorting ETF's. That way the price stays low and us folks who don't know anything can waste our money on it. Yeah, like China, India, Saudi Arabia, etc, etc.

Gold really doesn't fluctuate in value that's the fiat currency trying to maintain it's stability (and losing) as well as dodgy central bank slam downs using paper gold certificate shorts. Please learn something about gold before you rag about it.

ETA

At least a basic savings account allows you to just beat out inflation.

Double wow, you know even less about banking than gold. Not surprising in this day and age.

SpeachM1litant
Also in this note, why are people taking their cash out of the banks. It is only going to be devalued due to inflation. At least a basic savings account allows you to just beat out inflation.

Bull sh*t
No way is a basic savings account going to keep up with the inflation...
Don't buy gold, more for the rest of us

reply to post by Sremmos80


Maybe not in burgerland.

I have some of my money in a term deposit which definitely keeps up with the inflation rate. In fact, it exceeds it.

Lol at anyone buying gold. Ok enjoy. It doesn't fluctuate apparently here is a graph to prove it (/sarcasm)

en.wikipedia.org...:Gold_price_in_USD.png

IT DOES FLUCTUATE

Ok gold cannot be manipulated. But there is literally enough gold reserved in Fort Knox to satisfy demand for the the foreseeable future. Tell me how it can't be manipulated?

Wow you know so much about economics. Please teach me master (/sarcasm)

Also I would rather buy "paper gold".

At least it is easier to resell.

Please, put all you eggs in one basket and tell me how that works out for you guys.

reply to post by SpeachM1litant

Also I would rather buy "paper gold".

At least it is easier to resell.

Thanks for the laugh, easier to sell.

Here's your saving vs inflation. Also if you go by gov stats I've got a bridge to sell you. Even these stats appear low when you factor in energy costs, etc.



Here's you're savings in dollars. Gone down a bit since 09 too.

I'm not sure.
I might invest in gold.

reply to post by SpeachM1litant


Right gold value is a bubble inflated by the fiat financial system so if you're not extremely wealthy investing heavily in gold as a retirement is not very wise, there are many better stores of wealth than gold in a catastrophic situation if you're among average folk. On the other hand trading gold in the long or short term can be a great way to make a lot of easy money and the risk of massive loss is lower than a corporation because those have been proven vulnerable time and time again.

reply to post by SpeachM1litant


Gold can definitely be manipulated! But not by average means. If you had enough money you were willing to throw out you would be able (and officially permitted) to directly manipulate gold prices during the intra-day. That would be foolish though because you would get taken advantage of by established trading facilities. George Soros played a part in gold manipulation over the mod-term. If it wasn't for his capital the gold price chart would likely be much different.

gold is not an investment, it is a protection against the coming collapse of the $; a survival tactic, a safety measure if you prefer, with hardly any risk of losing too much in the 0.1% case the collapse doesn't happen and the guarantee to retain something after a collapse.

keeping your money on saving account is a 99.9% guaranteed it'll be lost or just worthless after a collapse.

nb: what you see fluctuating is mainly the usd, the rest is manipulation of the gold price by the banksters

reply to post by SpeachM1litant

Ok gold cannot be manipulated. But there is literally enough gold reserved in Fort Knox to satisfy demand for the the foreseeable future. Tell me how it can't be manipulated?

You really think they still have all that gold in Fort Knox??
This thread is a joke, right?!

Snif snif, Ah yes! The skunkiest of skunky!

reply to post by Bassago


Actually gold does fluctuate in value due to supply and demand that is not related to the supply and demand of currencies. If oil supply does not meet demand then the value of gold may drop in proportion so that would be a change in value.

Anyway as someone who is generally knowledgeable about the economy I'd like to point out that the best investments are in high growth fledgling companies and established fortune-500 dividend stocks in this day and age. Putting money in the bank is no longer an investment, it is a safe. Investing in gold is just not as reliable as a source of appreciation but trading it over the long-term has proven to be very reliable.

But there is literally enough gold reserved in Fort Knox to satisfy demand for the the foreseeable future. Tell me how it can't be manipulated? - See more at: www.abovetopsecret.com...

LOL!!!!
You actually think there is gold in Ft.Knox?!


IF and that is a huge IF there is still gold physically stored in Ft.Knox, it is spoken for and in no way what so ever a reserve. Well that is my understanding of it anyway

DP

reply to post by DenyFlatulence


I do think that they do. Show me the evidence that they don't and don't include any stupid conspiracy theories. In fact, Fort Knox has been hiding the true extent of their gold supply for sometime.

Also Bassago. What does the second chart represent? - interest return? I understand in the US you had insanely low interest rates for some time.

Also, in my country the inflation rate has never passed 8%, even during the GFC. Additionally, our interest rate has always been higher, so I really cannot speak for the CPI or the banking system in Burgerland, but you are also an idiot if you cannot invest your money in order to beat the inflation rate. It really isn't that hard.

Gold is not the way. I am going to laugh at every idiot that buys gold now only to have the price of it drop another 50%.

Anyone saying that there is a 0.1% risk is an idiot, plain and simple. Look at the historic price, listen to the poor people that lost money putting it into gold.

And if you think gold will be valuable during whatever apocalypse scenario you are probably wrong to. We are not going to revert back to some kind of Greek city state scenario. Only survival tools will be valuable + cigarettes and alcohol. And even if you have a load of gold, what is to stop anyone from killing you and stealing. Its not like you can hide it in a bank.

Silly people.

reply to post by Sremmos80


And you believe this because some idiots in this forum have established this as the truth. Nice independent research.

You are the people that would invest in shares on the basis of popular sentiment then cry about them losing value. It's called research.

BTW in my country, the quarterly inflation rate was 2.6%.

reply to post by On7a7higher7plane

Actually gold does fluctuate in value due to supply and demand that is not related to the supply and demand of currencies. If oil supply does not meet demand then the value of gold may drop in proportion so that would be a change in value. Anyway as someone who is generally knowledgeable about the economy I'd like to point out that the best investments are in high growth fledgling companies and established fortune-500 dividend stocks in this day and age. Putting money in the bank is no longer an investment, it is a safe. Investing in gold is just not as reliable as a source of appreciation but trading it over the long-term has proven to be very reliable. - See more at: www.abovetopsecret.com...

^^^^ THIS. Coca Cola, IBM, Wells Fargo, Gillette, Google (not tech or bio-tech companies however) etc.
Even when there is a recession, these companies are not all that effected in comparison to others. Poor people still drink coke, you still need to shave, computers are still the lifeblood of the economy, banks bounce back.

Savings are pointless. It's good to keep a limited small amount of cash tied up in savings and in a general account for everyday spending. The rest should be put to work generating passive income.

If you don't have enough capital, save up and then put it to work or just buy shares in BRK-B.