Gold anyone in on it?

[smokinghole]

I would say I am invested in gold. I have a mutual fund that is primarily in gold and diversifies in other precious metals and oil. It seriously TANKED back in Oct. thanks to everything else crashing and gold dropping seriously.

With the price of gold back on the rise my fund is very close to becoming profitable again for me. Now I hate to be one of those reactionary people but I can't help to want to pull my money invested out and use it for other purposes.

I figure I can take my measly $5k buy a new gun or two some ammo for everything and then take the rest to buy some cold hard GOLD.

Please don't tell me I'm the only person that is extremely pessimistic of this whole "recovery plan" that is about to be unleashed upon us.

 

[oneaday]

You ain't the only one. There are at least two of us. Gold seems right to me for now as well. I not sure I would still call it a "recovery plan", seems like the same old, same old on a much grander scale. Almost like one last grab for cash before the rest of us are too broke to bleed anymore.

 

[smokinghole]

That's the very reason why I used "". So another gun more ammo and some physical gold doesn't sound like a bad idea.

 

[Eric]

Last week, I sent cash4gold an ounce of gold and got $25!





Just kidding. :hysterica

 

[oneaday]

That's the very reason why I used "". So another gun more ammo and some physical gold doesn't sound like a bad idea.

I'm starting to think 3 cans of .308 for the M1A might not be enough.

Last week, I sent cash4gold an ounce of gold and got $25!





Just kidding. :hysterica

:rofl:
I see that ad at least twice a day.

 

[njstone]

About 5 years ago I decided that Platinum and Gold would be about the best investments I could make. Unfortunately, I had very little to invest and was saving for the down payment on a house, so all I could do was buy a few gold coins.

Between that time and a couple months ago, platinum trippled in value and gold did almost as well. Man, if I had only had some capital back then!

Gold and Platinum are EXCELLENT investments, and it has nothing to do with "luxury" items...the reason the markets tanked a while back is because people think of gold and platinum as luxuries and "who buys luxuries in a recession?" But the main value in those items is in electronics and computer manufacturing, not rings and necklaces.

Heck, I just had to replace a few plugs on my car that cost over $600 because they all had platinum connections! The demand will continue to go up and up, and especially now that China and other emerging markets are starting to use these components, scarcity will continue driving up prices.

It used to be said that gold was a "safe" investment like utilities...it won't go up much, but it won't go down much either. I don't think that's the case anymore. It will be a bit more volatile, but in the long run gold and plat will continue to go way up.

[This is all my opinion, I'm not in any way a financial expert.]

 

[SmokinDuck]

I actually have some stock in a company that digs the stuff out of the ground.

I'm doing pretty well with it.

Keep buying gold, you make me more money.

 

[cvm4]

It might dip again in price, but with the expected inflation that's coming, it'll head north real quick.

 

[Bass man]

I have a good amount of gold, bought when it was around $300 an ounce. Everyone should have some in coin form. No mutual funds- physical gold.

 

[njstone]

Gold is at an all time high. It might go up a bit more as the economy is still doing poorly, but once it turns around, I'd suggest selling...Gold won't stay this high for long.

Platinum is the way to invest. Right now, Plat is still 1/2 what it was pre-crash, and the need for platinum will increase even more than gold in the electronics and auto parts industries, as well as many other components.

Just my 2 cents (or two ounces...of Plat!).

 

[njstone]

I have a good amount of gold, bought when it was around $300 an ounce. Everyone should have some in coin form. No mutual funds- physical gold.

Agreed on the physical coinage, but again I have to suggest Platinum. Both in terms of potential increase of value, as well as potential disaster:

There is a law still in effect in the US that states that the Federal Government has the right to confiscate the silver and gold of private citizens in cases of extreme need. This law has not been used since the civil war, to my knowledge, but it still exists. The law says nothing of Platinum or Palladinum, as those were not in common use when the law was written.

 

[Bass man]

I would view a significant drop in gold as a buying opportunity. With all this "stimulous" money basically being created out of thin air, I'm worried about inflation & devaluation of the dollar. Gold will then go back up. Just my 2 ounces!

 

[cvm4]

Since gold is valued in dollars, it's going to go up and test the $1k threshold again. And if it holds above $1k, then lookout because it'll go higher. Inflation will be the friend of gold in the future. And inflation is coming once we're out of the trough and back into expansion phase.

 

[Tom]

Last week, I sent cash4gold an ounce of gold and got $25! :hysterica

Eric, next time send it to me and I'll pay at least twice as much!

Seriously, I have been a gold bug for 10 years now. My early investments allowed me to retire while still in my 40s. Last year was rough for everyone, this summer could be too. I usually sell all my trading shares by the end of March and load back up late in the summer. Hang onto my core shares no matter how bad it gets and still have positions in over 20 precious metal mining companies. I expect them all to be lower by the end of summer, but you never know.... that is why I am willing to take some pain right now as long as I can maintain my positions. When the XAU bounces, it bounces hard!

As long as the finance sector is recovering, tech, retail, and even healthcare stocks will outperform the PMs. Still tough times ahead for the banks. My number one holding is USU. I will add more under $5.50, and go heavy (again) under $5. Tomorrow being option expiration day, we could see some wild price swings. I live for days like those!

The platinum metal group stocks will have their day in the sun again, but it likely will be after this recession is over. Nevertheless, I suffer with many shares of PLG, PAL, and SWC just in case it turns tomorrow. Consider too, that with the recent resurgience of lead and copper, stocking up on ammo is a good idea before it takes another jump in price.

Buy and hold has been a time tested method of investment that has served me well in the past, but with the markets today being manipulated by the goverment, nothing is a "hold and forget" anymore. There can be no tolerance for losses. It is never too early to start taking some profit. Just be careful.

 

[caseabb]

My dad has always told me a man should own a little gold and lots of brass and lead!

 

[bballbaby]

Tangibles! Buy tangibles.

Gold, Silver, Platinum, etc.

No doubt inflation is coming. By the end of 2009, the fed wil have printed enough paper so that for every $1 bill in your pocket, there will be 15 new $1 bills in circulation. That's a fact...they are printing that much. So inflation is not a question of "IF" but "WHEN"

My mom and I have have started buying silver in 1 oz coins.

If the proverbial shit hits the fan, real, tangible assets are going to be the currency of choice. Here's my list of must haves that can be used as cash in the absence of gov't or any real currency.

Gold coins, silver coins, ammo, liquor, tobacco, tea and coffee. They will all be worth theyr'e weight in gold.

Many people are expecting gold to reach heights of $1500 by the end of the year, and silver to be at $50 of higher. The only problem with gold buillion is that in 1 oz pieces, it's not very practical. 1/4 oz is more practical, but even then, that's a boat load of monetary value in one small piece...you better get a months supply of food for that little 1/4 oz nugget. Jewelry and the like won't fetch near the value as real buillon.

anywhooo...my .02.

Gold futures and stocks aren't bad, but they're still just paper. if the shit hits the fan, all you have is a piece of paper and no gold. if the stock market crashes, so does you gold stock...but not if you actually own gold. food for thought.

 

[bballbaby]

Adam, to your original question...

here's my list of must have guns...for what it's worth

Assualt rifle (which you already have)
handgun in common caliber such as 9mm, .40 or .45
shotgun (12 ga)
.22 rifle for small game hunting
.22 pistol for training new shooters
.308 or some other longer range rifle (brother has a 7mm, so that wil do for me too) if the SHTF, we'll be together)
Compound bow for the silent treatment.

 

[Harvard]

My dad has always told me a man should own a little gold and lots of brass and lead!

Spoken like a true Texan. That will all come in handy when Gov. Perry secedes the state and Texas becomes the great nation that we already are.

 

[Holy_Diver]

I follow precious metals closely. my advice, get more. Gold is good, Silver is better, wait till it hits 12.00$/oz again (few days) I doubt it will go lower again. Ben Bernanke and Henry Pulson are printing money around the clock.. seriously, they're concerned about deflation. The largest spending plan in the history of our country is on the table, trust me. inflation will hit hard

if u really want to protect your buying power, take it to the next level, buy bullion with cash at local stores, don't give out your real name so you don't get listed. (ebay and internet/credit card transactions will get you listed, patriot act) This way they cannot pull a 1933 Roosevelt and force Americans to surrender their gold at 70% profit margins

 

[bballbaby]

if u really want to protect your buying power, take it to the next level, buy bullion with cash at local stores, don't give out your real name so you don't get listed. (ebay and internet/credit card transactions will get you listed, patriot act) This way they cannot pull a 1933 Roosevelt and force Americans to surrender their gold at 70% profit margins

I've been lucky enough to find a numusmatic guy close and I can purchase 1 oz silver and gold bullion very discreetly.

If you want his name and number, let me know. I met him at a gun show and he had probably 200 - 1oz gold coins and at least the same number of liberty silver dollars (1oz silver).

He also had about 20 $1000 bills. I've seen the $500, but never the $1000. Not that i would buy one...it's just paper. but still pretty neat to see. Too bad he'll be wiping his butt with them if he doenst' sell them in time.