Will anyone regret not buying gold at $2,270 ?
- Thread starter bushmaster1313
- Start date
Maybe Amazon 20yo
Or Costco
Or Costco
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NFrameFred
Member
My father, a relatively poor man, advised me at an early age - "ya don't get something for nothing, there's no free lunch, and never gamble that which you cannot afford to lose".
Risk verses rewards . . . . I have personally known three millionaires;
The first one made it, lost it, made it back and lost it again, dying pretty much broke.
The next one made it and lost it twice - the second time he had to borrow $1500 from a friend to buy a 12 year old pickup truck to drive around town before he clawed his way out of it and made his fortune a third time - this time he seems to be holding onto it pretty good and finally retired.
The third one made his by screwing over everyone he ever dealt with or ever did business with, lived high and died with a big bankroll - he still died and my estimate is his new reality now makes the equatorial tropics look comfortably cool.
I sit back and try to appreciate the blessings the good Lord has afforded me, remember where they come from, and endeavor to show my gratitude daily.
No precious metals to speak of, though I do buy primers when I find a deal occasionally . . .
Risk verses rewards . . . . I have personally known three millionaires;
The first one made it, lost it, made it back and lost it again, dying pretty much broke.
The next one made it and lost it twice - the second time he had to borrow $1500 from a friend to buy a 12 year old pickup truck to drive around town before he clawed his way out of it and made his fortune a third time - this time he seems to be holding onto it pretty good and finally retired.
The third one made his by screwing over everyone he ever dealt with or ever did business with, lived high and died with a big bankroll - he still died and my estimate is his new reality now makes the equatorial tropics look comfortably cool.
I sit back and try to appreciate the blessings the good Lord has afforded me, remember where they come from, and endeavor to show my gratitude daily.
No precious metals to speak of, though I do buy primers when I find a deal occasionally . . .
I consulted my financial advisor, Old Gabby. Here's what he had to say:
"You young whippersnappers are a fine bunch of gun enthusiasts. Dagnabbit, doncha know that for smart gun owners, the only real investment is .22lr ammo? I guess you haven't been reading the Forum posts where some of our members bought hundreds of thousands of rounds for 1/2 cent per round back in the day. Today, the yellow-bellied sapsucker dealers selling .22lr ammo are getting 8, 9, or even 10 cents per round. They're just hornswoggling bushwhackers. Outrageous! So us old-timers who've been hording our stash and bragging about the prices we paid, can now cash in for 10-20 times our original investment. That's smart, like a wolverine in heat! So buy your .22lr ammo now. In a few years when a new generation of young whippersnappers are complaining about paying 80-90 cents per round, you can cash in big, yer durn tootin'!
Ptui!"
"You young whippersnappers are a fine bunch of gun enthusiasts. Dagnabbit, doncha know that for smart gun owners, the only real investment is .22lr ammo? I guess you haven't been reading the Forum posts where some of our members bought hundreds of thousands of rounds for 1/2 cent per round back in the day. Today, the yellow-bellied sapsucker dealers selling .22lr ammo are getting 8, 9, or even 10 cents per round. They're just hornswoggling bushwhackers. Outrageous! So us old-timers who've been hording our stash and bragging about the prices we paid, can now cash in for 10-20 times our original investment. That's smart, like a wolverine in heat! So buy your .22lr ammo now. In a few years when a new generation of young whippersnappers are complaining about paying 80-90 cents per round, you can cash in big, yer durn tootin'!
Ptui!"
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Precious metals are not considered good investments, they are usually considered a hedge on inflation and not even considered gambling like the stock market. Some folks consider them to be something held in your nest egg but usually not recommended much beyond 10-15%. Ive got a good friend that is has been a dealer for decades, I've known him for thirty plus years. He will buy gold and silver anyday for 10% off spot, he doesn't care where it is currently, he knows that it will always retain its value and people are always buying at 10% over spot, he makes money.
Oldengineer
Member
Gold at $2,300 an ounce simply means me that the dollar is getting weaker.
What I gathered from a sophisticated presentation online was that the looming bumps in gold and silver price is due to the years of gold and silver market manipulation that has squeezed itself into a paucity of physical metal volume needed to make good on their high in the clouds,wheeling and dealing.
You know, when it's.....
When it's $5000/oz we'll kick ourselves for not taking this opportunity.
When it's $5000/oz we'll kick ourselves for not taking this opportunity.
Sounds like you "scratched an itch",, I'm glad I found this thread as it answered a lot of questions that I have about gold and silver, thanks guys...
Why would anyone then be selling now at 2300?
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Miners pretty much have to sell. That's their business after all, dig it up and sell it.
There are lots of different participants in any market. Each with their own motivations. Some sell simply because they need the money for something else. Maybe they've decided it has just run its course at the exact same time somebody else decides they need to get in. It's a market of humans making decisions. The odds are 50% will be wrong, 50% will be right.
Why does anyone sell anything?
It's all gambling. Some are betting the price will go up. Some are betting it will go down. Some are in it for the short term, some for the long term.
As had been said before - it is not an investment. It isn't for growing wealth. It is a method to preserve some wealth that has already been earned through other means.
It is similar to holding part of your assets in cash - it is something physically in your possession, has value, but hopefully won't be destroyed by inflation.
TheHobbyist
Member
Why would anyone want to buy when it is at the highest level?
Buy value on ______ when "it" is in the tanks. Just my opinion. NFA.
Buy value on ______ when "it" is in the tanks. Just my opinion. NFA.
moonsterman
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I love PM ....that said silver is a sucker bet.....$3.50 over spot when you buy and $1 under when you sell! Gold better but say you need $1000 , they dont make change so you need to sell a whole 1oz which screws you if it keeps going up. then there is the issue......where to go to sell it?? One might be better off buy extra liquor, reloading supplies , or food! I sold 90% of my PM yrs ago.
OP
Gold up $100 since OP to $2370
I expect institutional selling to take profits to kick in soon
I expect institutional selling to take profits to kick in soon
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THE PILGRIM
Member
Profit taking always a possibility.
This time The heavy Ton Buyers appear to be major Players like the Chinese.
They appear to be buying for the long term.
Who owns the most Gold?
Us, US Gov. 8000+ Tons.
Most of it is stored at Ft. Knox and West Point.
How come the Army has the Gold?
This time The heavy Ton Buyers appear to be major Players like the Chinese.
They appear to be buying for the long term.
Who owns the most Gold?
Us, US Gov. 8000+ Tons.
Most of it is stored at Ft. Knox and West Point.
How come the Army has the Gold?
Seen a couple shows on the boob tube that might argue about that!
Goldfinger!
Actually no!A very big long running conspiracy theory is there is no gold in there. Over the course of time I have seen a few of those theories on the TV and in print.
Is it possible yes, probable no. Either way no common people will ever get to know the answer.
