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Fool for the City |
What does this mean? Is the dollar basically worthless? _____________________________ "A free people ought not only to be armed and disciplined but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government." George Washington. | ||
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Don't Panic |
It means a dollar is worth 1/2700th of an ounce of gold. I don't think it's any more significant than any other threshold it's passed. | |||
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| Just because you can, doesn't mean you should |
When you consider the real inflation rate of the things most of us buy for the last few years, it's maybe kept up with inflation. That's a good thing, but it's not some extra special investment and there are buying and selling costs for regular folks to consider too. ___________________________ Avoid buying ChiCom/CCP products whenever possible. | |||
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| Lawyers, Guns and Money  |
Yes, gold hasn't become more valuable. It's still a pretty, shiny metal. But it's always been a good hedge against inflation. The Bill for Natural Gas Arrived Today and… https://sigforum.com/eve/forum...0601935/m/3970099015
Not worthless (yet) but worth less. "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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PopeDaddy |
Gold is a good asset to hedge against recession. It’s occasionally a good hedge against inflation. But the stock market is the best hedge against inflation. 0:01 | |||
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Get Off My Lawn |
Warren Buffett has recently converted approx. 40% of Berkshire Hathaway into cash, nearly $ 300 billion. Election time jitters, who knows. But gold rising to these kind of prices is not good news for the dollar. https://billcara.com/community/#comment-41751 https://www.reuters.com/busine...fit-sets-2024-08-03/ "I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965 | |||
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His Royal Hiney |
I'm interested in this story. Where are you getting the 40% figure? Because I've encountered other articles saying it's just 24% and pretty normal for Bershire. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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Member |
Yes, it’s high now, possibly not the best time to jump in with a large % of one’s portfolio. There have been many periods when gold & silver was lagging stock market indexes. Could be big changes after the election too. | |||
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| No More Mr. Nice Guy |
Gold is a commodity, making any investment a risk just like any other thing. Over long periods of time it does represent a stable-ish purchasing power. But, the gold (and silver) markets are highly manipulated. In the shorter term their dollar price doesn't mean much. The short term price is more an indicator of fear. Higher fear will cause a higher price. Uncertainty, war, etc. The record gold price in dollars reflects a depreciating dollar along with a negative sentiment about the future economy. | |||
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| Don't Panic |
Often, but not always. When the 2008 panic hit big time in October, fear was palpable and cash was king. Turned out gold was just another asset for people to sell, and sell they did.  link Now, it did come back shortly afterward. But during the panic, people who mistakenly thought their gold was insulation against the madness of crowds found out otherwise, then themselves joined the panic when reality hit and their $900-$1000 gold started plummeting along with the lesser asset types, eventually reaching under $700. The lessons there for the short term are a) enough fear causes lower prices, and b) some panics affect everything. | |||
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goodheart |
Wow~ that graph is an eye-opener. _________________________ “Remember, remember the fifth of November!" | |||
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| Don't Panic |
^^ Yes, but note the bottom of the Y-axis in the graph is not zero, so the movements look scarier then they were - and they were scary enough! It was the best graph I could find readily, despite the suboptimal graph design. | |||
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Member |
Imagine what all those high school and college class rings are costing now. _________________________________________________________________________ “A man’s treatment of a dog is no indication of the man’s nature, but his treatment of a cat is. It is the crucial test. None but the humane treat a cat well.” -- Mark Twain, 1902 | |||
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| Member |
I’m sure they offer lower cost options, for rings. I haven’t checked in a long time though. | |||
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Knowing is Half the Battle |
My mom was in a nursing home for 4 years until she passed away last year. She had her jewelry chest there "full of just costume jewelry" that I received for our daughters. I got around to looking through it recently as dad would buy mom some nice stuff sometimes. I added up the melt value of some necklaces and what not at over 1/3 an ounce, about $1,000. They are nice and timeless in design so they still go to our daughters, but they are now in the safe deposit box. There was also a gold and diamond watch Dad bought at a "bankruptcy auction" for $250 in 1996 or so that had an "Appraisal" of $800 some odd dollars. I looked up the appraiser, the address comes back to what looks like a junky car mechanic in Illinois and I found an Illinois court of appeals case where a bidder in another auction had sued them for inflated "Appraisals." Anyway, that watch probably was worth nowhere near $250 in 1996. I took it to Jeweler A to sell for the gold, they offered me $120 two weeks ago when gold was around $2,500/oz. "We just don't know how much gold is in it." I took it to a coin store a couple miles away who started off with $274 not knowing the weight of the mechanism but if I didn't mind them removing that they could give a better idea (up or down in price). I said go ahead and ended up at $344. I had taken in an old gold crown last month and received $85 for it. Moral of the story if you are taking in junk gold..shop around. I'm still a bag holder on some 2011-2012 silver. I recently consigned to an online auction my childhood collection of a dozen or so proof silver eagles and silver commemorative dollars and they did well, even after the buyer and seller premiums. If silver hits $35 I'm going to be clearing out most of my 90%. | |||
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| Member |
Gold is pretty! I want more   ____________ Pace | |||
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| Lawyers, Guns and Money |
I've got some silver eagles from that time period also. But, they were bought for sentimental reasons for the 2011 date. "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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| Political Cynic |
Yes exactly. It’s suppressed zero. So if you plotted that same chart using a zero origin it wouldn’t look nearly as scary. | |||
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Alienator |
It means it's following inflation SIG556 Classic P220 Carry SAS Gen 2 SAO SP2022 9mm German Triple Serial P938 SAS P365 FDE P322 FDE Psalm 118:24 "This is the day which the Lord hath made; we will rejoice and be glad in it" | |||
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| Master of one hand pistol shooting  |
I still do not know how you would buy a loaf of bread with a gold bar or collector coin. SIGnature NRA Benefactor CMP Pistol Distinguished | |||
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