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    Ezra's Avatar
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    Default BUY GOLD NOW

    If you have any wealth or savings, get it in gold. It will only continue to rise, while everything else crashes. If you've been following the news, you'll see that the dollar is weak, and gold is just stably rising. It's THE safe haven for these times of uncertainty.

    Dunno if in the US it's the same, but in the UK these ads started popping up all of last year saying "CASH 4 GOLD" etc, where they will buy your gold cheaply, because obviously they knew it was on the rise. Soon, cash could mean very little. And gold will be like it always was: the precious currency to barter in.

    So get your act together and save REAL money.

    Unless, like me, you have a mound of debt and fuck all "wealth". Then just laugh as everyone else's savings goes to shit when you told them it would and they laughed at you.

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    Slippery when wet Simon Ssmall's Avatar
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    Investing in real estate was also a very good idea as the price were rising for a very long time.
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    Quote Originally Posted by No Longer a Dating Site View Post
    Investing in real estate was also a very good idea as the price were rising for a very long time.
    yep, the castle in the sky strategy, aka, there is always a bigger dumbass who will buy from you at a higher point. Except when... you are the biggest dumbass left.

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    Coldest of the Socion EyeSeeCold's Avatar
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    Ironic that if everyone acts on the idea that Gold with increase, so they must rush to buy it now, the price will indeed inflate.

    "Don't start nothing, won't be nothing"

    Quote Originally Posted by Ezra View Post
    If you have any wealth or savings, get it in gold. It will only continue to rise, while everything else crashes. If you've been following the news, you'll see that the dollar is weak, and gold is just stably rising. It's THE safe haven for these times of uncertainty.

    Dunno if in the US it's the same, but in the UK these ads started popping up all of last year saying "CASH 4 GOLD" etc, where they will buy your gold cheaply, because obviously they knew it was on the rise. Soon, cash could mean very little. And gold will be like it always was: the precious currency to barter in.

    So get your act together and save REAL money.

    Unless, like me, you have a mound of debt and fuck all "wealth". Then just laugh as everyone else's savings goes to shit when you told them it would and they laughed at you.
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    The issue I have with gold is that it still doesn't have any intrinsic value, only the value that is assigned to it. If you learn to do something that makes you more self-sufficient, that has an intrinsic value. If you learn to do something that can be a bartering tol, that seems to have more intrinsic value too. But just because gold has historically been the one thing that has always had value doesn't mean it will always continue to, or that it will have the level of value you're hoping for.

    Also, if you think the banks are going to not collect debts, I think you're dreaming.
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    Coldest of the Socion EyeSeeCold's Avatar
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    Quote Originally Posted by Slacker View Post
    The issue I have with gold is that it still doesn't have any intrinsic value, only the value that is assigned to it. If you learn to do something that makes you more self-sufficient, that has an intrinsic value. If you learn to do something that can be a bartering tol, that seems to have more intrinsic value too. But just because gold has historically been the one thing that has always had value doesn't mean it will always continue to, or that it will have the level of value you're hoping for.

    Also, if you think the banks are going to not collect debts, I think you're dreaming.
    Gold has intrinsic value because it's rare. Half the world loves rare items. It has functional uses beyond decoration, but they are not the main driving force behind its economic activity.
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    I don't see rarity as giving something an intrinsic value. It has to be useful to have an intrinsic value, like feed you or keep you warm.
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    buy gold 10 years ago, sell gold now.

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    Coldest of the Socion EyeSeeCold's Avatar
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    Quote Originally Posted by Slacker View Post
    I don't see rarity as giving something an intrinsic value. It has to be useful to have an intrinsic value, like feed you or keep you warm.
    Yea I know, valuing. I was referring to valuing though.
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    Quote Originally Posted by Slacker View Post
    I don't see rarity as giving something an intrinsic value. It has to be useful to have an intrinsic value, like feed you or keep you warm.
    Gold is valuable both because it's supply is limited and because everybody knows that everybody else knows that everybody else knows...that it is valuable. Gold has been considered a store of value since forever, and that's not changing any time soon. The only way gold becomes worthless is if literally EVERYONE is starving fighting for survival. As long as there exist sporadic pockets of wealth, gold will hold value as a medium of exchange (though perhaps not as well as, say, guns and liqour).

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    Quote Originally Posted by Ezra View Post
    If you have any wealth or savings, get it in gold. It will only continue to rise, while everything else crashes. If you've been following the news, you'll see that the dollar is weak, and gold is just stably rising. It's THE safe haven for these times of uncertainty.
    In the long run, the dollar is headed down, probably way down. Of that much I'm confident. What's considerably less obvious is that gold will perform as well relative to currency as you seem to anticipate it will. You see, gold rises with expectations of a currency crisis, but not necessarily during a currency crisis. Smart money began moving into gold over a decade ago on account of the same underlying trends that now threaten to undermine global stability, dollar reserve status, and US/EU economic dominance. Since then, the price of gold in dollars has increased nearly 500%. Over the same period, the value of the dollar has declined between 10% and 30%, depending upon how you do the math. The bottom line is that the emerging currency/economic predicament is, to a certain extent, already factored into the price of gold. If the US suddenly figured it's shit out, the price of gold would fall dramatically. The situation is much the same in the UK.

    A much better bet would have been to invest in silver approximately 6 months ago, as it had experienced very little of gold's upside up to that point. Today, however, silver could just as well correct @30%+ as continue rising, and though gold is in a less precarious position, and will likely continue rising in the long run, returns will not be as dramatic as you might have hoped. If you wanted true wealth protection against inflation and decline in the dollar relative to other currencies, you needed to get into gold 10 years ago.

    In all likelihood, gold will be run up quit a bit more if news continues to suck, which almost certainly it will. However, in all likelihood, it will correct sharply once it does finally peak, reaching a long run equilibrium that may be no higher than today's price (and perhaps lower). If you aren't good at timing these sorts of things, I wouldn't recommend placing all your money in gold. And for the record, equities also serve as a hedge against inflation (albeit an imperfect one). Another option is TIPs, "inflation protected treasury notes," about which I have very mixed feelings given the questionable way in which the gov tabulates inflation.
    Last edited by Timmy; 04-22-2011 at 02:26 PM.

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    If you put your dollars into gold, you should have done it a long time ago. Spot gold prices are around $1500/oz. and silver is approaching $50/oz.

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    Quote Originally Posted by Capitalist Pig View Post
    If you put your dollars into gold, you should have done it a long time ago. Spot gold prices are around $1500/oz. and silver is approaching $50/oz.
    It's a good point. Sadly those who didn't invest but who have a lot of cash just have to look on.

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    Gold has a wide range of industrial applications, mostly as thermal conductors and electrical leads.

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    Quote Originally Posted by Capitalist Pig View Post
    Gold has a wide range of industrial applications, mostly as thermal conductors and electrical leads.
    let's be honest though Cpig, if gold were only used industrially, it'd be about as valuable as aluminum (which goes for ~$1.25/lb).

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    Quote Originally Posted by Timmy View Post
    let's be honest though Cpig, if gold were only used industrially, it'd be about as valuable as aluminum (which goes for ~$1.25/lb).
    Yup.
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    Quote Originally Posted by Timmy View Post
    let's be honest though Cpig, if gold were only used industrially, it'd be about as valuable as aluminum (which goes for ~$1.25/lb).
    The point is that in order for a commodity to become a media of exchange, other than its homogeneity, it has to already be considered valuable and there must be a pre-existing demand for it.

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    Quote Originally Posted by Ashton View Post
    Aw, little Ezra.
    He's right though.

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    Quote Originally Posted by discojoe View Post
    He's right though.
    How much gold did you buy?
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    Quote Originally Posted by Ashton View Post
    Aw, little Ezra.
    Aw, little Ashton. What are you doing with your little sad Aderall-ridden life at the moment?

    ETA: are you still living with your parents?

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    Quote Originally Posted by Timmy View Post
    If you are in debt, Ezra, you should embrace inflation. It will make your debt easier to service/pay-down.
    Yeah, discojoe was telling me this too. He gave me the economic principle although I'm still at a loss as to how it works. Surely the interest would inflate with the loan?

    Quote Originally Posted by FDG View Post
    Unless it's not fixed-interested debt. Although, I suppose it should be.
    It is, yes.

    Quote Originally Posted by Ashton View Post
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    No. I'm coming to live with yours.
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    Yeah, discojoe was telling me this too. He gave me the economic principle although I'm still at a loss as to how it works. Surely the interest would inflate with the loan?
    Like somebody else mentioned, that depends upon whether you have a fixed or floating rate loan. You often can chose which kind of loan you want. Fixed rate means your interest payments do not change with inflation. Floating rate means they do (they are indexed to some measure of inflation; if prices increase by 5%, your interest payments increase by some set percentage of that 5%).

    During inflation, prices AND SALARIES go up. If your debt payments are fixed, servicing them will require a smaller and smaller percentage of your anuall salary, which is a good thing.

    If you are convinced there will be high inflation and you still have any control over which sorts of loans you are taking out, go with fixed rate. With fixed rate, If there ends up being low inflation you'll come out a little worse off, but if inflation is high you'll come out much better in the long run.

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    He has student loans, which typically have fixed interest rates.

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    Quote Originally Posted by Ashton View Post
    Disemboweling winos and prostitutes to sell their organs on the Chinese black market for more Adderall. You?
    I just got a new pair of kidneys. which Chinese black Market you sold it to? the Flying Dragon?
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    Quote Originally Posted by Jarno View Post
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    My reply: well I will answer that, if you first tell me how much you weigh!

    2)
    A girl I was dating said she was oh so great at sex etc, but she didn't do blowjobs.
    My reply: Oh I'm really romantic etc, I just will never take you out to dinner.

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