Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 13:39:07 GMT
Divest and buy gold... That's all I am gonna tell ya.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 21, 2022 14:47:18 GMT
Divest and buy gold... That's all I am gonna tell ya.
Gold down today:
Gold price per ounce 1,834.70 -4.00
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 14:51:59 GMT
Divest and buy gold... That's all I am gonna tell ya.
Gold down today:
Gold price per ounce 1,834.70 -4.00
Well, when you're buying, the downer the better... I think.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 21, 2022 15:37:02 GMT
Gold down today:
Gold price per ounce 1,834.70 -4.00
Well, when you're buying, the downer the better... I think.
Yes, but if you look at the history of gold prices, we are currently at a relative high.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 16:35:46 GMT
Well, when you're buying, the downer the better... I think.
Yes, but if you look at the history of gold prices, we are currently at a relative high.
Why do you think that is?
|
|
|
Post by archie on Jun 21, 2022 16:52:43 GMT
Democrat program in power. Stock market in crash dive. Well well. A surprise bump up today. Let us see if it lasts long.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 21, 2022 16:58:34 GMT
Yes, but if you look at the history of gold prices, we are currently at a relative high.
Why do you think that is?
I have no idea.
What do you think?
|
|
|
Post by rabbitreborn on Jun 21, 2022 17:02:42 GMT
Divest and buy gold... That's all I am gonna tell ya. M***** f*****! I knew we'd find some common ground at some point! I'm doing a little dance in celebration.
|
|
|
Post by rabbitreborn on Jun 21, 2022 17:04:46 GMT
Yes, but if you look at the history of gold prices, we are currently at a relative high.
Why do you think that is? I think gold could be in for a rough ride in the short term, but the longer-term outlook is excellent. Within a couple-three years, we'll be hitting $2,500 - $3,000 per ounce. I'm going to continue buying over the next few months. The trick will be trying to time the bottom to maximize effectiveness of the hedge against the inflation that will follow the upcoming deflationary period.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 17:04:50 GMT
Why do you think that is?
I have no idea.
What do you think?
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 21, 2022 17:07:36 GMT
I have no idea.
What do you think?
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high.
So, if the price of gold is a scam, why on earth would it be a good investment?
|
|
|
Post by rabbitreborn on Jun 21, 2022 17:50:27 GMT
I have no idea.
What do you think?
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high. The number of people continues to go up, yet the nominal price of wages goes up as well. Using your question, shouldn't that be equally as curious? But it isn't, because the world reserve currency (the dollar) and the other currencies in the world are being debased.
|
|
|
Post by rabbitreborn on Jun 21, 2022 17:54:07 GMT
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high.
So, if the price of gold is a scam, why on earth would it be a good investment?
Gold isn't an investment like stocks and bonds. It is a hedge against inflation, and it has thousands of years of proof of worth. It has industrial uses, and is uniquely suited to be a store of value. Highly sought after, extremely malleable, etc. etc. Perhaps the most important characteristic is its defiance of entropy. It does not corrode. It does not rust. A religious person might say it was meant to be money. An atheist chemist might say that it is meant to be money as well. Here's a nice summary. www.businessinsider.com/gold-price-chemistry-science-currency-destiny-2017-8
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 19:58:21 GMT
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high. The number of people continues to go up, yet the nominal price of wages goes up as well. Using your question, shouldn't that be equally as curious? But it isn't, because the world reserve currency (the dollar) and the other currencies in the world are being debased. I don't think the two could be judiciously compared as people are both producers and consumers of goods and services and this only for the time they're alive, while materials like gold are neither, and they don't decay or lose value, well there may be a little wear and tear but I'll say it's almost negligible. So they are two very different things.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 20:05:29 GMT
It seems strange as the total quantity of gold in the world slowly increases so the cost should slowly decrease proportionally. I don't see what could make the price go up except maybe some kind of trick by the people who have lots of it. I know they kinda do that with diamonds, the price of which is kept ridiculously high. The number of people continues to go up, yet the nominal price of wages goes up as well. Using your question, shouldn't that be equally as curious? But it isn't, because the world reserve currency (the dollar) and the other currencies in the world are being debased. I think I wasn't clear enough in my previous post so I'll add that basically/roughly the production of goods and services is in proportionality with the number of people and so is the consumption of said goods and services. So, again roughly, it should be constant and only influenced by technology and scarcity and not by the number of people. Sorry, but these are rather subtle concepts, so maybe they need more explanations... feel free to ask if you're a little lost.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 21, 2022 20:39:47 GMT
Markets at close, 6-21-22:
^DJI 30,530.25 +641.47 +2.15% ^IXIC 11,069.30 +270.95 +2.51%
^GSPC 3,764.79 +89.95 +2.45%
Not too shabby!
|
|
|
Investing
Jun 21, 2022 22:06:44 GMT
via mobile
Post by rabbitreborn on Jun 21, 2022 22:06:44 GMT
The number of people continues to go up, yet the nominal price of wages goes up as well. Using your question, shouldn't that be equally as curious? But it isn't, because the world reserve currency (the dollar) and the other currencies in the world are being debased. I don't think the two could be judiciously compared as people are both producers and consumers of goods and services and this only for the time they're alive, while materials like gold are neither, and they don't decay or lose value, well there may be a little wear and tear but I'll say it's almost negligible. So they are two very different things. You’re right. I could have and should have used a better example to illustrate my point. But this brings up another point. The amount of gold mined every year is a little over 1% compared to all gold humans have mined. The global population growth is a little over 1% as well. And gold is “consumed” in industrial uses. It is also, for lack of a better term, hoarded by people in jewelry boxes around the world, around people’s fingers, in plenty of people’s safes in coin and bar form, in government and bank vaults.. So the available gold for purchase each year is one thing. It is separate from the total gold mined by humanity and existing in terms of humanity. Gold will inevitably go up in value when compared to currencies that are growing at a much quicker rate.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 21, 2022 22:22:29 GMT
I don't think the two could be judiciously compared as people are both producers and consumers of goods and services and this only for the time they're alive, while materials like gold are neither, and they don't decay or lose value, well there may be a little wear and tear but I'll say it's almost negligible. So they are two very different things. You’re right. I could have and should have used a better example to illustrate my point. But this brings up another point. The amount of gold mined every year is a little over 1% compared to all gold humans have mined. The global population growth is a little over 1% as well. And gold is “consumed” in industrial uses. It is also, for lack of a better term, hoarded by people in jewelry boxes around the world, around people’s fingers, in plenty of people’s safes in coin and bar form, in government and bank vaults.. So the available gold for purchase each year is one thing. It is separate from the total gold mined by humanity and existing in terms of humanity. Gold will inevitably go up in value when compared to currencies that are growing at a much quicker rate. I agree with your assessment if the amount of gold mined is only a bit over 1% of all the gold humanity has mined, every year. I thought it would have been more like three or even five percent given the progress in technology and detection we've acquired recently... It's as if gold prospecting was on its last legs... Is it?
|
|
thor
Legend
Posts: 17,602
|
Post by thor on Jun 22, 2022 5:36:27 GMT
You’re right. I could have and should have used a better example to illustrate my point. But this brings up another point. The amount of gold mined every year is a little over 1% compared to all gold humans have mined. The global population growth is a little over 1% as well. And gold is “consumed” in industrial uses. It is also, for lack of a better term, hoarded by people in jewelry boxes around the world, around people’s fingers, in plenty of people’s safes in coin and bar form, in government and bank vaults.. So the available gold for purchase each year is one thing. It is separate from the total gold mined by humanity and existing in terms of humanity. Gold will inevitably go up in value when compared to currencies that are growing at a much quicker rate. I agree with your assessment if the amount of gold mined is only a bit over 1% of all the gold humanity has mined, every year. I thought it would have been more like three or even five percent given the progress in technology and detection we've acquired recently... It's as if gold prospecting was on its last legs... Is it? I don't think gold is 'on its last legs', but it is perhaps largely exploited already(?). I think it is worth noting that there is likely a great deal more of the element in areas that are very difficult to get to, e.g, undersea.
|
|
Odysseus
Legend
Trump=Chump
Posts: 39,220
|
Post by Odysseus on Jun 22, 2022 5:41:27 GMT
|
|