Mr Lee Posted February 19, 2009 Posted February 19, 2009 What do you think of Gold as an investment?I have heard talk of Gold hitting $1500 or more this year, anyone have any thoughts on whether we (those of us who can afford to) should be buying gold and maybe silver, as a hedge against a collapse of currencies?I am really beginning to get concerned that the dollar seems to be heading for collapse. Link to comment Share on other sites More sharing options...
Mike S Posted February 19, 2009 Posted February 19, 2009 Well IMHO ...... ya can't eat it but it is softer than steel ...... best bet is to invest in lead ...... especially lead surrounded by brass or plastic .... particular a #6 or 8 ...... if the world monetary market collapses you are going to need lots of the buggers ....... as only the strong will survive ... I would hate to be the only one in the neighborhood with a hand full of gold coins trying to buy a loaf of bread ...... as the have nots will definitely try and take form the haves ....... there is no way we can even imagine what will take place or how we will be able to survive with out a monetary system ........ trade ... or barter ...possibly ..... but remember trade will only be for items that you can use ...... goats for veggies ...... veggies for fruits etc. ....... gold will be good to only someone that wants it ....... better to move to the provinces and learn to grow camote and raise chickens ...... There will be no department stores (how will they buy from suppliers ..... how will the suppliers pay their employee's to keep working) ..... no amenities like electric (can't pay your workers in gold ... there isn't that much available) .... fuel will be used up soon ...... no transportation (again you can't pay your help and they arn't going to work for nothing) ........ I don't think people realize the seriousness of the problem ...... the industries of the world will come to a grinding halt ...... no one is going to supply products or labor with out means of reimbursement ...... live as we presently know it will cease as everything around us relies on being paid in one way or another ...... just look at the present state here in Cebu ..... the furniture company that went broke because of loss of overseas business let a bunch of workers go because they could not pay them .... these people have no money coming in and no work ........ now multiply that by millions and millions and you get just a tiny picture of what will take place ........ These same people need to eat and I doubt if they will take gold or silver coins to eat during the fall of the industrial age ...... now they would take chickens for veggies or fruit ......... or perhaps chickens and veggies for laborIf I really wanted to plan for the monetary collapse I would buy or invest in land to grow and raise things ....... and lead and brass or plastic #6 or 8 to keep it ........ anyway it is going to be interesting ........ Link to comment Share on other sites More sharing options...
tom_shor Posted February 19, 2009 Posted February 19, 2009 (edited) Like I said don't buy gold buy food and guns. Worst that will happen is there is no collapse and you wind up eating the food yourself anyway. Edited February 19, 2009 by tom_shor Link to comment Share on other sites More sharing options...
Mr Lee Posted February 20, 2009 Author Posted February 20, 2009 I say stock up on food, then if you have money left over, and you are not in one of those anti gun countries, then buy guns and lots of ammo, and then if you can afford it, buy gold and silver. Cover all bases if you can.Most of us buy insurance of one type of another, but then when it comes to insuring our own safety and that of our families, we get gun shy, so to speak. IMO It is always better to be safe than sorry, so why not prepare for the worst and hope for the best, and hope that we will never need to use the tools for the worst. Besides, as Tom said, we can always eat the food, and we can sell off the rest if we find we do not need those things. I would rather be armed and ready than become a victim. :1 (72): Link to comment Share on other sites More sharing options...
Mr Lee Posted February 20, 2009 Author Posted February 20, 2009 Gold eases, but still near 7-month high, IMO it seems to be heading for $1200 to $1500 this year. http://business.inquirer.net/money/breakin...ar-7-month-high Link to comment Share on other sites More sharing options...
Mr Lee Posted February 21, 2009 Author Posted February 21, 2009 Almost therehttp://goldinfo.net/gold1.html Link to comment Share on other sites More sharing options...
chimellie Posted February 21, 2009 Posted February 21, 2009 How do you buy gold ? Lets say you have 30,000 USD and you want to buy gold, do you buy gold certificates or real gold bars ? Link to comment Share on other sites More sharing options...
Mr Lee Posted February 21, 2009 Author Posted February 21, 2009 How do you buy gold ? Lets say you have 30,000 USD and you want to buy gold, do you buy gold certificates or real gold bars ?In hand I trust, so you go to a gold coin dealer and you will usually pay a small premium over the gold cost. The best thing is to watch the market and try to pick a down day. As for 30K it would be best to buy it under 10k or the dealer has to send a report to the govt and no one needs them looking at why we do things.I would also think about buying coin silver by the bag as a hedge. You can buy pre 64 US silver coins from coin dealers by the bag and the best thing would be to buy old silver dollars by the bag. They usually come in $500 and $1000 face value bags.If the day ever comes that the dollar collapses, and I pray it never does, IMO you should be able to use those coins to buy necessities. Link to comment Share on other sites More sharing options...
tom_shor Posted February 22, 2009 Posted February 22, 2009 How do you buy gold ? Lets say you have 30,000 USD and you want to buy gold, do you buy gold certificates or real gold bars ?If you are really going to buy gold get the real thing. If things really do get that bad I'm not trading any of my food for a piece of paper. :rolleyes: Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted February 22, 2009 Forum Support Posted February 22, 2009 How do you buy gold ? Lets say you have 30,000 USD and you want to buy gold, do you buy gold certificates or real gold bars ?Two choices.Buy a scrap of paper that says Hey! I'm all that... Someone says I got GOLD. American Eagle Gold Bullion Coins from the US mint. Bullion Coins Link to comment Share on other sites More sharing options...
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