Please. Sell your Gold NOW! It's a trap.

ZOMG - Gold dropped 62 dollars today, the sky is falling, the bubble is bursting

(sarcasm)

Weak currencies are actually great for exports. Unfortunately, we transferred most of our manufacturing capability to China in a 20 year wholesale assault on industry. So now that we are in a position to export we have nothing. to export except agricultural products thanks to the US geography. But fear not, the Chinese will eventually pour in millions of people either by force or by immigration to take that too. If Obama and Biden have anything to say about it I am sure the invitation has already been made.

dont worry about anything else but resources kids......

arable land, grazing land, water, ores, etc.....

all else is extra and not worth the paper you bought....

if your buying gold, silver, copper, platinum, etc..... you are going to lose everything if the shtf.....

buy non hybrid seeds, land, guns, ammo, natural resources, clothes, livestock, etc etc....

the elite are buying up these things while the masses are worried about their portfolios....hint hint

watch also gold is going to get another big jump before it falls but its coming no doubt

reply to post by whathasitcome2


A weak currency is great for tourism and generally should attract foreign capital. Prices are simply attractive.

In the event of total economic collapse, what would the world use as a currency in place of paper money? It would most defiently have to be a precious metal such as gold or silver. I do believe there is a bubble concering any commodity in the markets. Whether this is gold, silver, oil, food, etc. Here is something to consider:

The most important thing to remember is that gold and silver are merely a way to hedge inflation. That's it. Gold can only go down in value if the dollar can fight back inflation and make ground against other world currencies. However, given the national debt is now equal to 100% of the GDP and rising every quarter, it would seem this is highly unlikely. No doubt precious metal dealers are unloading their stockpiles for major profits as the masses are rushing to buy every last bit they can as the markets and economic news become ever more gloomy. It is important to remember that diversity in anyone's portfolio is necessasity. For example, if you invested all money in gold today at $1900 a ounce and a year later gold dropped $1500 you would of lost a fairly decent amount of your investment.

Just a thought.

Originally posted by sbctinfantry
Opening Bell : Markets Rally on QE3 Expectations
www.abovetopsecret.com...

Gold Advances to Record as Platinum Climbs
www.abovetopsecret.com...

Wall Street Aristocracy got up to $1.2 Trillion in Secret Federal Reserve loans any given time from 2007-2010
www.abovetopsecret.com...

I know that almost every alternative media, mainstream media, and precious metal peddler is telling you to buy gold for a number of reasons, though mainly as a hedge against inflation. This has always been the case througout history, and like every other time in history. Once the bubble bursts, the jig is up, you're broke, starving and left holding the bag while the banking cartel asserts their newfound power.

Still belive in gold? My question to you is this:

If it is such a great hedge against inflation, what do you do with it when the money supply is contracted? What do you say to the banking titans getting out of gold and going into water, energy, land and other natural resources?

You won't be able to sell it for 1/100th of what you bought it for. What once would have been a down payment on a new car will be equated to a loaf of bread.

If you think that's bad.. If you actually do get out of the market, and get back into the dollar, you will still lose because what your holding will be truly worthless. In this case, you're better off with gold.

The smartest thing to do is to buy land and natural resources.

YOU HAVE BEEN WARNED

News Flash :George Soros, the hedge fund investor who called gold the ultimate bubble, has divested his portfolio of nearly its entire investment in the gold, inciting many to fear that the price will very soon plummet, devaluing the specie-heavy portfolios of millions of investors.

George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.
George Soros sells his gold
George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.

*snip*

It is not known exactly when Mr Soros sold his gold, which was held via the Soros Fund Management investment vehicle. Filings to the Securities and Exchange Commission (SEC), the American regulator, showed that he had sold 99pc of his holding in SPDR Gold Trust, an exchange-traded fund (ETF) backed by gold bullion, by the end of March.


Source : www.telegraph.co.uk...

Maybe Soro's is just trying get the mob mentality to follow him as to keep the price of gold down. sort of helping Forex along! Though most smart investors know that gold will not tank until that day comes when markets crumble under the weight of unpayable debt but this is just my opinion and I am just an ignorant surf!

Good call. But your too late in letting us poor conspiracy theorists know about it. MSM had gold at $1734 an OZ. Projected profit to reach $2400.

USD has not gone down. So why did Gold go up?

It's disheartening, to put it lightly, to see all these posters not even reading the OP, or following the thread. It's not like I ever said the USD was a better bet than physical gold. I never said that gold wasn't a hedge against inflation.

All I'm saying basically is this:

1) Unless you have a vast resource pool to draw from, you will not make money from gold. See : History

2) Governments steal gold in a time of need. See : History

3) If you think that seeds, fruit, and vegetables, livestock won't pay your bills with far more ease than gold when "TSHTF", you are insane. See : History

4) If you think that EFT's don't affect the price of gold, and aren't an influencing factor on the price of gold, you're insane. See : History

5) If you think that growing and selling food will not net you more gold that you could ever hope to buy in any market, you are insane. See : History

6) If you believe that paper currency is far inferior to gold, namely the US Dollar, but you also believe that land, water, and other natural resources are not superior to gold, you are insane. See : History

I suppose I could go on, but I've already addressed everything and I'll leave the rest at that.

Trying to say that Gold is a bubble is like saying skyrocketing food prices are a bubble! With this logic, I'm sure gas prices are also a bubble. I really wish that was the case.

Gold has been averaging 20-30% gains every year for the past 11 years. Also... every time our debt ceiling is raised, Gold prices go up with it! Check out this chart:



There is a great video (posted below) that was just released on August 16th, 2011. This is the best video that I've seen on the subject of Gold. It builds up a good case as to why Gold is actually way undervalued and could reach as much as $15,000 to $20,000 per ounce. The guy who created this video is very well known (owns GoldSilver.com and has written a book for the "Rich Dad, Poor Dad" book series). This video is a MUST SEE so check it out!

Debt Collapse - The case for $20,000 oz Gold - Mike Maloney



P.S. I bought 20 ounces of Gold in 2008 when it was only $800 an ounce. People back then tried telling me it was a BUBBLE! Now that Gold is at $1,800+ per oz... the same people still think it is a BUBBLE! I think they just don't want to admit that they were wrong. Especially since they don't own any gold and probably never will. Less then 1% of the population in our country actually owns gold. Wow... 99% of the people prefer a Fiat Currency backed by absolutely nothing!! Just seems crazy to me... gold has been used as a currency for over 6,000 years. I'd rather trust something that has a longer track record then the paper money (Fiat Currency) which history has shown has ALWAYS failed.

Let me ask people here a question... what do you think will happen to the price of Gold (and the price of ALL commodities) once the "Dollar" is no longer the world reserve currency? In case you are not yet aware, China (as well as Russia) have been raising the issue of ditching the dollar as the world reserve currency.

Originally posted by hero_25
Trying to say that Gold is a bubble is like saying skyrocketing food prices are a bubble!

With this logic, I'm sure gas prices are also a bubble. I really wish that was the case.

Gold and silver are a flight to safety, not a hedge against inflation.
the demand for gold and silver are high, and thus price goes up, if the dollar declines or increases a little in value makes no difference, but if the demand falls away, then we will see the prices fall.
Food and oil will go up with inflation, this has to do with labor costs, and transportation for which oil is needed.
If demand of oil is high, which means that there is more economic activity, the price will go higher because of demand.
Now which is economically important? oil and thus energy? or gold as a flight to safety?
That is the difference between a bubble, and demand because of economic activity.
If the economic activity reduces like it did back in 2008 the price of oil will fall back to low levels through lack of demand.

I don't know that much about this issue, but I've read that gold (and silver) rise when the American dollar loses value. In other words when gold prices go up the value of the US dollar falls. I assume this refers to its purchasing power, which has fallen over the years since 1913 when the Fed was created. Ironically the American Founding Fathers inscribed an honest money system into the Constitution (e.g. Art. 1, Sec. 10, Par. 1) due to the horrible experience America faced with its early experiments with paper money. And it served them well until the Fed came along. I could be mistaken in my understanding, but IMHO if I had to choose between the two I'd rather be stuck with physical gold and silver (or other tangible asset like land) rather than paper money since in 100 or 1000 years time gold and silver will always hold value (as history reflects) whereas the American dollar (like all paper currency) will sooner or later revert to its real, intrinsic value--ZERO. And it'll be good for one of two things to throw on the fire or to wipe yourself with as Germany discovered in the years just prior to the rise of Hitler: "Germany saw the worst inflation of any modern industrial country only [seventy] years ago when the value of its paper money fell so low that currency was a cheaper fuel than firewood." The handwriting is on the wall America . . .

Originally posted by cameraobscura
I don't know that much about this issue, but I've read that gold (and silver) rise when the American dollar loses value. In other words when gold prices go up the value of the US dollar falls. I assume this refers to its purchasing power, which has fallen over the years since 1913 when the Fed was created. Ironically the American Founding Fathers inscribed an honest money system into the Constitution (e.g. Art. 1, Sec. 10, Par. 1) due to the horrible experience America faced with its early experiments with paper money. And it served them well until the Fed came along. I could be mistaken in my understanding, but IMHO if I had to choose between the two I'd rather be stuck with physical gold and silver (or other tangible asset like land) rather than paper money since in 100 or 1000 years time gold and silver will always hold value (as history reflects) whereas the American dollar (like all paper currency) will sooner or later revert to its real, intrinsic value--ZERO. And it'll be good for one of two things to throw on the fire or to wipe yourself with as Germany discovered in the years just prior to the rise of Hitler: "Germany saw the worst inflation of any modern industrial country only [seventy] years ago when the value of its paper money fell so low that currency was a cheaper fuel than firewood." The handwriting is on the wall America . . .

As much as I don't want to single you out, it's much of the same over and over again..

No one with half a brain is saying that the paper dollar is more valuable than gold. It probably never will be again. However, that doesn't mean that the buck stops with gold, pun intented.

It's bull headed and fairly ignorant to state that the founding fathers instilled an honest money system and leave out the battle that has been ongoing, since long before our nations' founding, agaist centralized banks and banking cartels. It's downright irresponsibe, really, because you are misleading the other readers.

You're also leaving out the manipulation of the gold markets through EFT's, derivatives and other vessels. It was always fact that the main difference between paper and gold is that gold can not be created out of thin air, until now. Now banks are selling gold EFT's and derivatives, backed by either the banks credit rating (of all the laughable things) or a fractional reserve of gold.

If you can't figure it out, you shouldn't be throwing your uninformed speculation around like it is the truth.

As far as the posters claiming I am a shill, "Ben Bernake", or a new employee of the moneychangers, I say this.

First they laugh at you, then they attack you, and finally they admit you're right.

The University of Texas purchased 1 Billion in Gold earlier this year!

www.forbes.com...

there was a good video that I watched a few days ago...

geraldcelentechannel.blogspot.com...

it was an hour long but was interesting enough to keep my attention that long...

he says the time is almost, but not yet up, for gold also, as well as most other assetts...
it has more to do with the population demographics than anything else...
I sent this link to all of my kids telling them they should listen to it. they are young, and well, what this guy is explaining is the cycle that everyone seems to miss. so, well, I figure that if my kids can understand the cycle, they will be better able to know when it's time to buy or sell, save, or not save...

basically the boomers are either saving for retirement, or are beginning to divest their assets on that retirement....
the assets are gonna go down... gold included....
but there is still time.

Originally posted by Akasirus
You keep stocking up on gold then, but if S ever did HTF like everyone keeps proclaiming, that gold wouldn't be worth it's weight in pennies. Food, water, oil, ammo, and necessities to live by will be the commodities traded. During a government collapses, nuclear war, zombie apocalypse, or whatever SHtF scenario, nobody in their right mind is going to trade their food for a hunk of metal.

But as long as some economies in the world survive, gold will be of some value to people somewhere, I suppose.

People who invest in gold are doing so to protect their wealth. They don't care about nuclear war, zombie apocalypse, comet Elenin or any other unlikely scenario. They do careabout economic collapse which happens all the time, all over the world.

So if you think the end is nigh, sure, buy guns and food with your chump change. People with money can do that and protect their wealth with gold.

Nah I wouldn't sell gold at this point, I believe the markets have still got a way to go downwards. Once QE3 is official then gold will fall, but I doubt they will start QE3 until we see a huge slide. Gold will reach newer highs soon.
But anyways once QE3 is over then its game over and the only place you want to be in is gold.

Hm, I think gold is due for a dip....

However this basically assumes that all other markets and the global economy stays more or less the same.

The reality is far from this though.

The Eurozone is in trouble
US debt is still a joke (not a funny one)
Double dip recession is a major threat

Considering these then gold may just keep going up.

If you've got the money to invest, buy gold. I mean buy physical gold through GoldMoney or some other entity. Secure, backed by a physical gold purchase. Either that or put your money under the mattress, but what with inflation and the devaluation of global currencies, gold is a good shout.

But then again, gold is due a correction!!

Therein lies the problem!!

For some time there has been rampant attempts to buy up gold, everywhere you look... shopping malls, TV adverts and numerous magazine ads. Who are the people behind these companies that can continue to shell out cash on your gold trinkets?

Maybe it's all one source... The Annunaki?! They came here to mine our gold and created 'man' as their slaves. I reckon they're here amongst us now, pending 2012, and buying all the gold they can get hold of. If it's not for their planet, then it's because it's gonna be the only thing worth anything, when this stupid 'currency world' we live in finally collapses, as it will do any time now.

We are to expect a massive change in the way we live.... it's happening now around the world, and when the false value of countries, their reserves and all the 'credit debt' out there comes home to roost, life is going to fall over. Gold will be your only wealth.... food and supplies will go to those with gold. The rest of us can scrabble amongst the wreckage of our world, and only the strongest, who have avoided a junk food diet and are in the know will survive this adjustment.

Time to wake up to what's coming! - Either stash gold (it's current value is immaterial), or be one step ahead of the masses, and prepare for a rough ride.

Gold 50-day moving average is at $1650 and the 200-day MA at $1500. It is dangerously overbought, of that there is no doubt. A 20-25% correction should be healthy for this market.