Yes but if you buy now will you double your money again in 5 years?

I don't know how safe of a bet that is, my gut is telling me the price of gold needs to come down a bit. But I really don't know, so I'm asking.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

As I understand it, the valur of the gold actually does not change. What changes is the strength of the various fiat currecies. I see MASSIVE inflation as the only way to "pay" for the trillions of pork just spent, and the additional trillions still to come. No way to raise that kind of money by simply "taxing the rich."
So even though gold may be at a 5 year high, it may go far higher.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

Do you even have the option to invest in gold with your 401? I don't.

International funds could be a good bet against the dollar.
My 401 is adding a TIPS fund, treasury inflation protected securities.

Why won't taxing the rich work? That is where the money is.

Two other ways to get money, dept or printing. I think printing is the one that causes the most inflation. If inflation gets high all the commodities should do well, not just the purty shiny one.

I use this web site to reference prices and selling premiums:

www.tulving.com

Rather than accept a moderate hardship (due to past economic excesses) for a lengthy period of time - as the Japanese economy has done - I believe the US economy is being propped up (inflated) by debt in something resembling a Ponzi scheme. At some point the whole thing comes crashing down and the pain will be greater than what the Japanese have experienced.

Don't go into debt to buy anything (other than a house to live in). If you have any debt whatsoever (including that mortgage on the house you live in), pay it off entirely before buying any gold.

Ken300D

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1982 300D at 351K miles
1984 300SD at 217K miles
1987 300D at 370K miles

To answer your question about taxing "the rich", There aren't enough of them. Depending on how you define "rich", anywhere from a couple of thousand to a million or so taxpayers. That leaves 100 million or more "middle class" tax payers. Because of the numbers of people in the great middle class, THAT is where the bulk of the money is.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

All taxes are sold as taxes on the rich, than the standards are played with so the middle class can pay them.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

This guy gets it.........totally!

The guy a couple three quotes up who says; "tax the rich," doesn't get it. He's repeating some political slogan that was used solely to get votes in a campaign. Even if "the rich were taxed," it would never be enough anyway......besides, the rich pass all costs on to the consumers in one form or another.......just as the government does. There's no free lunch folks.

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'06 E320 CDI
'17 Corvette Stingray Vert

Spelling error, I fixed it.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Well it is a start. Go back to the top tax rates of the 50's and 60's.
The middle class has not been given the same 50% cut that the rich
have. Sure there are fewer rich but those few also have most of the
wealth.

I think inflation is likely but will take time to happen. There is a real danger that the world will lose faith in the dollar. If that happens the dollar will fall fast. I plan on keeping a good percentage of my 401 in foreign funds.