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Fool for the City
Picture of MRMATT
posted
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.
 
Posts: 5316 | Location: Pottstown, PA | Registered: April 26, 2002Reply With QuoteReport This Post
Don't Panic
Picture of joel9507
posted Hide Post
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.
 
Posts: 15162 | Location: North Carolina | Registered: October 15, 2007Reply With QuoteReport This Post
Just because you can,
doesn't mean you should
posted Hide Post
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.


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Avoid buying ChiCom/CCP products whenever possible.
 
Posts: 9836 | Location: NE GA | Registered: August 22, 2002Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by 220-9er:
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.

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

quote:
What does this mean? Is the dollar basically worthless?


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
 
Posts: 24659 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
PopeDaddy
Picture of x0225095
posted Hide Post
quote:
Originally posted by chellim1:
quote:
Originally posted by 220-9er:
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.

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

quote:
What does this mean? Is the dollar basically worthless?


Not worthless (yet) but worth less.


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
 
Posts: 4287 | Location: ALABAMA | Registered: January 05, 2008Reply With QuoteReport This Post
Get Off My Lawn
Picture of oddball
posted Hide Post
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
 
Posts: 17203 | Location: Texas | Registered: May 13, 2003Reply With QuoteReport This Post
His Royal Hiney
Picture of Rey HRH
posted Hide Post
quote:
Originally posted by oddball:
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 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.
 
Posts: 20090 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
Member
Picture of sourdough44
posted Hide Post
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.
 
Posts: 6425 | Location: WI | Registered: February 29, 2012Reply With QuoteReport This Post
No More
Mr. Nice Guy
posted Hide Post
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.
 
Posts: 9756 | Location: On the mountain off the grid | Registered: February 25, 2002Reply With QuoteReport This Post
Don't Panic
Picture of joel9507
posted Hide Post
quote:
Originally posted by Fly-Sig:
The short term price is more an indicator of fear. Higher fear will cause a higher price.

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.
 
Posts: 15162 | Location: North Carolina | Registered: October 15, 2007Reply With QuoteReport This Post
goodheart
Picture of sjtill
posted Hide Post
Wow~ that graph is an eye-opener.


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“ What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.”— Lord Melbourne
 
Posts: 18392 | Location: One hop from Paradise | Registered: July 27, 2004Reply With QuoteReport This Post
Don't Panic
Picture of joel9507
posted Hide Post
^^ 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.
 
Posts: 15162 | Location: North Carolina | Registered: October 15, 2007Reply With QuoteReport This Post
Member
Picture of 229DAK
posted Hide Post
Imagine what all those high school and college class rings are costing now.


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“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
 
Posts: 9301 | Location: Northern Virginia | Registered: November 04, 2005Reply With QuoteReport This Post
Member
Picture of sourdough44
posted Hide Post
I’m sure they offer lower cost options, for rings. I haven’t checked in a long time though.
 
Posts: 6425 | Location: WI | Registered: February 29, 2012Reply With QuoteReport This Post
Knowing is Half the Battle
Picture of Scuba Steve Sig
posted Hide Post
quote:
Originally posted by 229DAK:
Imagine what all those high school and college class rings are costing now.


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%.
 
Posts: 2607 | Location: Iowa by way of Missouri | Registered: July 18, 2002Reply With QuoteReport This Post
Member
posted Hide Post
Gold is pretty! I want more Eek



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Pace
 
Posts: 790 | Location: in the PA woods | Registered: March 11, 2013Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
I'm still a bag holder on some 2011-2012 silver.

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
 
Posts: 24659 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Political Cynic
Picture of nhtagmember
posted Hide Post
quote:
Originally posted by joel9507:
^^ 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.


Yes exactly. It’s suppressed zero. So if you plotted that same chart using a zero origin it wouldn’t look nearly as scary.
 
Posts: 53861 | Location: Tucson Arizona | Registered: January 16, 2002Reply With QuoteReport This Post
Alienator
Picture of SIG4EVA
posted Hide Post
It means it's following inflation


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Psalm 118:24 "This is the day which the Lord hath made; we will rejoice and be glad in it"
 
Posts: 7161 | Location: NC | Registered: March 16, 2012Reply With QuoteReport This Post
Master of one hand
pistol shooting
Picture of Hamden106
posted Hide Post
I still do not know how you would buy a loaf of bread with a gold bar or collector coin.



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Posts: 6411 | Location: Oregon | Registered: September 01, 2001Reply With QuoteReport This Post
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