For people who think investing in Gold is a good idea - PeachParts Mercedes-Benz Forum

benhogan · #1 10-30-2012, 03:20 PM

Price Gouging Dings Consumers Amid Hurricane Frenzy | Daily Ticker - Yahoo! Finance

there are people out there who think that investing in gold bars is a good idea. specifically, they say that it holds its value more than anything (paper money, stocks, etc.). Moreover, they bask in the idea that if they have gold bars, they will have something of value to trade for goods when disaster strikes.

I am willing to bet that the guy holding gold bars will have trouble trading it for water, food, gasoline, generators, shelter, etc. right now.

I hope that gold bar tastes good.

Mike Murrell · #2 10-30-2012, 03:23 PM

Imagine walking into a grocery store with a gold bar and asking the cashier how much you'll need to shave off to cover your purchase.

jplinville · #3 10-30-2012, 03:34 PM

There was a story not too long ago about fake gold bars. They had all the proper paperwork and markings, but were not solid gold. I wonder how many more of these will show up now.

I'd really be interested in seeing how many old ship wrecks were uncovered by the storm...

elchivito · #4 10-30-2012, 04:33 PM

Gold as a hedge as part of an essentially healthy investment portfolio is one thing. But if the S truly HTF, finished ammo and reloading supplies will trump gold by miles. For that matter, so will land, water and livestock.

greazzer · #5 10-30-2012, 04:51 PM

Beans and bullets will beat gold anyday when McDonalds & Walmart closes their doors.

MS Fowler · #6 10-30-2012, 04:57 PM

Gold DOES hold its value, but it is difficult to spend. Gold coins may be a better value than bars. However, I think one probably needs the ammo and arms to hold onto the gold--if it really gets that bad.

hill · #7 10-30-2012, 05:02 PM

I forgot who said it. Put 5% of your retirement portfolio in precious metals and hope to God you never need it. Along with a few thousand rounds of ammo.

Mike Murrell · #8 10-30-2012, 05:16 PM

Quote:

Originally Posted by elchivito

But if the S truly HTF, finished ammo and reloading supplies will trump gold by miles. For that matter, so will land, water and livestock.

I like your SHTF portfolio - don't forget the homemade beer/wine supplies

C280 Sport · #9 10-30-2012, 05:40 PM

Gold is a good however I personally would not buy it right now as I think it is too high. I had gold way back when it was $400 per ounce and stupid me sold off when it was at $900. I should of held onto it. I personally have been buying and selling silver in the last year more then stocks as I have it mostly in dividend paying stocks.

Dave Donaldson · #10 10-30-2012, 05:52 PM

The Germans Are Coming for Their Gold - CNBC

The digital commerce re. trading of gold may not in fact be accurate.
If, and it's a big if, countries will want to hold gold, will the price of gold go up ? Canada sold most of it gold, and is now considering buying some back.
Back in the 60's was not gold a means of validating the worth of ones currency?

Mike Murrell · #11 10-30-2012, 05:52 PM

Quote:

Originally Posted by C280 Sport

I had gold way back when it was $400 per ounce and stupid me sold off when it was at $900. I should of held onto it.

You are anything but stupid - very nice profit. You may have bailed thinking it was close to peak. Congrats to you.

cullennewsom · #12 10-30-2012, 05:57 PM

Quote:

Originally Posted by jplinville

There was a story not too long ago about fake gold bars. They had all the proper paperwork and markings, but were not solid gold. I wonder how many more of these will show up now.

I'd really be interested in seeing how many old ship wrecks were uncovered by the storm...

You wouldn't believe the number of folks who lost their gold in boating accidents. Happens all the time.

SwampYankee · #13 10-30-2012, 06:38 PM

Quote:

Originally Posted by cullennewsom

You wouldn't believe the number of folks who lost their gold in boating accidents. Happens all the time.

Are you insinuating that some folks might be less than truthful with their insurance claims?

cullennewsom · #14 10-30-2012, 07:11 PM

Quote:

Originally Posted by SwampYankee

Are you insinuating that some folks might be less than truthful with their insurance claims?

I don't know about the insurance part, but it's a running joke among gold bugs about when the SHTF and the Revenue-ers and zombies come to confiscate private holdings (again).

Consider these comments from another forum:

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Mine fell out of the boat. I hate it when that happens

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What gold?

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Sadly, I lost all my PMs in a boating accident.

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Damn, you too? We sure are some horrible boaters around here.

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Ha! Me too. Go figure.

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I must be the only one. I lost mine in a freak bit of turbulence flying a little cessna over Lake Ray Roberts. Or was it Lake Lewisville? I can't remember. But I'm offering $750/oz to anyone who can help me recover my gold. Please someone help me!

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Agreed. I was referring to physical only - that I unfortunately lost - in that tragic boating accident - 9 miles off the coast of NC.

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You, too? I had my gold forged into an anchor. With gold's specific weight, I thought, "Wow, it'll make a great anchor"! I shoulda spent a little more on the rope, though.

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Me too! I lost my gold in a tragic boating accident in Lake Michigan, near the Mackinac Bridge. Fortunately, no barbarians were lost in the melee!

ah-kay · #15 10-30-2012, 08:03 PM

This is a wrong forum to give investment advice. Buy ETF if you want to invest in gold. It is convenient and liquid, not today though, Market is closed.