359 posts shown.
Casey Price2 said:To be honest, the dollar value of zlato doesn't really matter to me since I don't live in a place where the dollar is the primary currency. Both gold and silver have had their corrections, and it looks like they're mostly finished. You ask what happens to people who bought at $1,900? It's the same situation I faced when I was buying at much higher rates. At the time of purchase, it felt like the absolute peak. Then, suddenly, it wasn't. Metals aren't assets you buy for a one or two-month flip; they are investments held over years. In about two years, those who bought at $1,900 will probably be wondering why they didn't buy even more.
As for art being a hedge, imagine if heaven forbid there’s a fire and a painting gets destroyed. Your hedge is gone. Can your zlato burn?
Anthony Evans78 said:Or maybe from 1974 through 2012.☕
Casey Price2 said:Just like anything else, especially with metals: I suppose timing is everything.
Anthony Evans78 said:Look, gold is a thousand times more proven as a hedge against inflation than anything else, my friend 😉
Casey Price2 said:To be honest, the dollar value of zlato doesn't really matter to me since I don't live in a place where the dollar is the primary currency. Both gold and silver have had their corrections, and it looks like they're mostly finished. You ask what happens to people who bought at $1,900? It's the same situation I faced when I was buying at much higher rates. At the time of purchase, it felt like the absolute peak. Then, suddenly, it wasn't. Metals aren't assets you buy for a one or two-month flip; they are investments held over years. In about two years, those who bought at $1,900 will probably be wondering why they didn't buy even more.
As for art being a hedge, imagine if heaven forbid there’s a fire and a painting gets destroyed. Your hedge is gone. Can your zlato burn?
Casey Price2 said:I was picking up gold at around $950 an ounce through the end of 2010. Now the spot price is sitting near $1,350. At the same time, I bought silver at $21 and could sell it now for $31, though it isn't quite as liquid or easy to move as gold. I guess you could say I beat inflation, wouldn't you?
quiettrucker12 said:Keep in mind gold is sitting in a secular bull market that also has an expiration date, maybe around 2018 or 2019. I know, I know—talking about gold is basically taboo on this board.😁
The name of the game is identifying the secular bull and riding it. You'll need to start sniffing out the next big move soon; it might manifest as a specific breakout sector within the stock market itself.
Anthony Evans78 said:Lucky for those of us holding gold or silver, though I don't envy everyone else. Given how things are looking right now, the PM has plenty of reasons to let rates climb.
It’s a grim outlook; most people are going to end up broke after this mess plays out, and I'm certainly not celebrating that—unless, of course, everything truly hits the fan if the Middle East ignites and drags the rest of the world down with it.
The middle class? Honestly, I think it’s basically a myth at this point.
Patrick Moore3 said:I'm leaning toward the second option. He wasn't joking, he just lacks the leverage to stop it... If QE wasn't the answer, the Japanese proved that long before this mess. You could see it with the first two rounds of QE too—didn't work like they wanted, asset prices kept tanking (real estate, for example). So now they're trying the "blindfolded chicken" method, hoping it somehow hits the target this time? Ben simply can't force people to take on debt and buy junk they don't need just to pick up where they left off in 2008... We're looking at a debt deflation cycle, something Irving Fisher described ages ago. Yet back in '95, Ben actually tore him apart:
http://en.wikipedia.org/wiki/Debt_de...tream_interest
Here's how Fisherman breaks down the situation:Unless some counteracting cause comes along to prevent the fall in the price level, such a depression as that of 1929-33 (namely when the more the debtors pay the more they owe) tends to continue, going deeper, in a vicious spiral, for many years. There is then no tendency of the boat to stop tipping until it has capsized. Ultimately, of course, but only after almost universal bankruptcy, the indebtedness must cease to grow greater and begin to grow less. Then comes recovery and a tendency for a new boom-depression sequence. This is the so-called "natural" way out of a depression, via needless and cruel bankruptcy, unemployment, and starvation. On the other hand, if the foregoing analysis is correct, it is always economically possible to stop or prevent such a depression simply by reflating the price level up to the average level at which outstanding debts were contracted by existing debtors and assumed by existing creditors, and then maintaining that level unchanged.
...so the real question is: how much reflation is actually doable, and is it even enough? That's another story entirely.
Bottom line? Ben doesn't have much breathing room... OPEC is helping him out a bit by keeping production low to hold inflation steady, but he's still stuck cleaning up the massive mess Greenspan left behind. That's gonna take years to fix...
quiettrucker12 said:The window for caution was back in August 2011. That was pure chaos—everyone was panicking, and we were all typing away about selling everything before the peak. Well, that ship has sailed, whether we see some profit-taking and a dip down to 1720 (where we started this run) or not. Back then, Mizuzul and I were debating if silver would hit 22 or 23. It ended up hitting 26. As for this current wave, the "panic buy" window was when you could actually snag silver at 28. Right now, you can still jump on the train, but you’re risking a stomach-churning mini-correction if one hits in the next couple of weeks. If that happens, there might be another shot at 1900, but that doesn't help the people who actually listened to the advice to buy at 28.
It’s a shame Mizuzul doesn't post more often. He's easily the most level-headed person on this entire board.
ironstag8 said:To me, that sounds a lot like controlled dosing, except the addict is the one deciding how much they take.
ironstag8 said:And why bother mentioning an alternative? What kind of alternative did Ancient Rome have right before everything went south? Their only "alternative" was watching some barbarian tribe march right through the gates—which, incidentally, happened alongside rampant inflation (you know, the constant debasing of silver and gold content in their coinage) and the systematic destruction of their financial infrastructure. The only real solution for a system like this is to let it fall apart. Inflation isn't a fix, and it certainly won't save us.
dustyheron5 said:Well, they aren't the problem... they just still believe the Federal Reserve will actually manage things responsibly regarding fiat currencies... much like the other 99.99% of the population.🤷
dustyheron5 said:He definitely leaves Bakić in the dust... he clearly understands the subject matter... his smile feels more genuine... and his logic isn't nearly as convoluted as Bakić's...
As for comparing them directly, I'll pass—I don't really have a metric for deciding which men are better or worse.😂
His only real hurdle is wanting to adopt the Euro, but he can't pull that off until certain requirements are met...
And once those conditions are satisfied, the real question is whether there will be anything left to implement.🤣