Will anyone regret not buying gold at $2,270 ?

So how long before a repeat of Roosevelts 1933 executive order making private ownership of gold illegal?
 
I bought gold at about $800.
According to inflation calculator, I've actually lost purchasing power at today's price.

But what really infuriates me, is capital gains not indexing to inflation. Meaning I have to pay capital gain taxes on what is actually a wash or loss of "real" assets.
 
I wish when my Wife and I got married, I had the foresight to buy gold. That was 1972 and I was a Sgt. in the USMC. Once every two weeks we would splurge and have a dinner at Hardee's at the cost of $5.00. Gold was $63.84 an ounce.............it would have taken 13 months of not going out for dinner for me to buy one ounce of gold. I think taking my Wife out for dinner was better for us. I still have the wife!
 
sjmjax said:
I bought gold at about $800.
According to inflation calculator, I've actually lost purchasing power at today's price.

But what really infuriates me, is capital gains not indexing to inflation. Meaning I have to pay capital gain taxes on what is actually a wash or loss of "real" assets.
Click to expand...

This whole capital gains **** is a bunch of ****. I had 2 accounts with the same firm and last year the company discontinued one of them. So, after discussing the options with the broker I rolled 100% of the money into a different account. Since the first account was closed I had to pay capital gains on the earnings.
 
The capital gains tax amount is pretty generous, unless it's real estate or huge assets. Most of us won't ever owe capital gains tax.
 
glenwolde said:
So far all this hasn't actually shown up in the numbers. But all this volatility is saying it will. You probably won't actually see any bad numbers from companies until July when they report second quarter performance. Bad news may show up in government statistics a bit sooner than that. The markets are discounting it.

Foreign entities own 30% of our debt and 20% of our equity markets (roughly). Mostly because they ended up with a lot of dollars selling us stuff. They had to do something with them. Financial instruments are a couple of our biggest exports.

The conventional wisdom on Wall Street is that due to the current trade environment foreigners no longer need to hold so many dollar assets. Gold looks better. It's called the "Sell America Trade". Sell U.S. assets and buy gold or other non-dollar assets.

It's not so much done with malice or out of retribution, more of a currency exposure realignment and they are refocusing on domestic issues just as we are.
Click to expand...

I don't regret not buying gold in the past, I think I have done better with my investments than I could have gotten from gold. But these days the stock market is closer to gambling than investing. We are betting against the big guys who are insider trading and manipulating the market. At my age, this is becoming a lot more risky than I like, it is time to take some money off the table. I need to be thinking more about protecting what I have.
 
NYlakesider said:
Where does that put me. I invest decently in the stock market, that to include a bunch of medical REITs. (The best of both worlds, Stocks and Real Estate!:sneaky:)
Click to expand...
I,too, am invested in stocks, REIT's, mining (takes care of precious metals and rare earth minerals), bonds, CD's, annuities, and of course cash. All courtesy of my friends at Fidelity. No home runs but those walks and singles add up.
 
Last edited:
sjmjax said:
I bought gold at about $800.
According to inflation calculator, I've actually lost purchasing power at today's price.

But what really infuriates me, is capital gains not indexing to inflation. Meaning I have to pay capital gain taxes on what is actually a wash or loss of "real" assets.
Click to expand...
We purchased 10 gold American Eagles and 10 Philharmonics back in '01 at $480. Just sold a couple weeks ago when it hit $3,500. Cash in hand no paperwork, the Taxman can kiss the old whaazoo . . . . . .

But I really regret is not using the $15K I spent on a damn boat and buying "Apple" stock that was suggested. Today that would be over $10M banked, versus a dead in the water tub - - - ARGHHHHHH 😭 🤑 too soon old, too late smart ..... 🤷‍♂️
 
On 1 July, in the USA Gold once again becomes a class one asset.
So banks can once again hold Gold as a reserve asset.
FDR took the gold primarily from the banks.
Little if any was actually taken from private citizens.
Lately large amounts of gold have entered the Country, owners unconfirmed.
There has been wild speculation on who are the owners, banks buying gold ahead of the July rule change appears to be a good possibility.
 
FYI gold and silver and other precious metals don't get taxed at the same capital gains rates as stocks. They are taxed as collectibles. Long term holdings (> 1 year) are taxed at a max 28% rate.
 
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