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Yep and a couple of months ago Gold spruikers were still predicting a rise closer to US$2000 oz for this year. Deflation or more likely stagflation seems quite possible.....a week ago we got a letter from our bank saying our floating mortgage rate would be going up this month by .25 then this week the ECB drops the base rate by .25.....we are waiting for the next letter from our bank......over the last three years every move by the ECB has been been reflected in our floating rate.
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The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them. -
So owning gold over the last 5 years would have been a total loss right?
No capital appreciation, plus no return = backwards, right?Last edited by Perry; 10-11-2013, 08:12 PM.Squadly dinky do!Comment
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Originally posted by Davo36 View Post
Davo I own gold. What I react to is the idiots who think gold is the only way to make money or who make ridiculous claims. I started buying in 2003 when Financial Advisers said don't buy and I stopped in 2007 when financial advisers said buy gold. I still hold a decent amount but the returns over the last three years have been marginal. I have not checked on the last 5 years...I pay nearly NZ$500 a year for two safety deposit boxes( the one in NZ costs the most). The problem is too many people who buy gold don't have any exit plan to turn their paper profits into real profits. On paper a bottle of Whiskey I purchased in 2001 has out performed gold and will likely continue to outperform gold.......Cost €90.00 current value €1200.00. That bottle of whiskey is likely to hit €10,000 value on paper long before gold hits US$10,000 an once. But like my gold its actually worth nothing until I sell it!!!Last edited by Austrokiwi; 10-11-2013, 11:47 PM.The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.Comment
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And........
As usual the gold pundits are stating gold is going to push higher this year. Yet behind those claims ETF gold redemption's continue reducing the amount held by those entities. Gold truely is a speculators commodity.The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.Comment
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Warren Buffet said something like "It's a metal you dig up out of a hole and put in another hole underground with guards around it" referring to Fort Knox or something. But I think his point was that it's basically an exercise in futility.
Gold, Bitcoins, tulip bulbs, kiwifruit (at the start)... they're all the same.Squadly dinky do!Comment
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This is our monkey brains saying "Shiny thing make it all better".Squadly dinky do!Comment
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LOL I think that sums it upOriginally posted by Davo36 View PostThe mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.Comment
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This should worry all you gold bugs:
Suspect gold rushes into global markets after major refinery breaches guidelines
Leaked papers show Kaloti ignored law tackling conflict minerals and accepted gold from customers walking in off the street
Rest of ArticleSquadly dinky do!Comment
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Well asI see it, it does not matter what you paid for bullion or what the spot price is doing, forget that, it only matters how much you have
physically got as insurance when/if the SHTF.
And I would not put it in a bank 'deposit' box, anything you have in there is unsecured making you the unsecured creditor.
Possession is 9/10th of the law and probably more-so in anarchy I would imagine.
Can you trust them not to change the rules and consider it a deposit.
With something far far more valuable (potentially) than your savings.
when/if the SHTF. The Cyprus event was not that long ago and they got bailed out!
Do you think they have the keys to your box?
Germany gave its gold stocks to the USA after the war for safekeeping.
Now the Fed is not allowing any audit of the German gold or offering a repatriation date until after 2020.
Nor would I ever admit to having any.Comment
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Yeah
The previous owner of these gold coins buried in a can under the tree really got their monies worth.
I'll stick with earning and spending money I think.
Bonanza found on dog walk
By the way hamish99, any comment on my reply to you on the vendor finance thread?A California couple out walking their dog on their property stumbled across a modern-day bonanza: US$10 million (NZ$12m) in rare, mint-condition gold coins buried in the shadow of an old tree.Comment
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The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.Comment
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Along with gas prices and other things.
About a year ago I decided anything that can be traded in a big way is being rorted.
The biggest rort being high frequency trading of normal share markets. Where mum and dad investor's money is just a plaything for those in the know.Squadly dinky do!Comment
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Yep, Davo, and the rich continue to get richer,
while the gap between rich and poor continues to grow wider."There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho MarxComment
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Hell! Do you suppose that might explain the kiwi "love of property?"Originally posted by Davo36 View Post
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