Between 800 and 1,000 by the Between 800 and 1,000 by the end of 2014.
scaredyclassic
December 26, 2013 @
9:21 AM
I continue to believe the I continue to believe the piper must be paid and he shall demand to be paid in gold. Though perhaps not in my lifetime.
I believe some of the best investments may be actual smallish valuable things bought used at steep discount which you can store and sell on ebay 10 years from now on ebay.
Expect 5 to 10 percent returns.
Coronita
December 26, 2013 @
10:14 AM
I predict I will get older I predict I will get older and grumpier next year….
scaredyclassic
December 26, 2013 @
11:09 AM
I think my grumpiness I think my grumpiness actually peaked in 09 and is on a gradual longterm decline
bob2007
December 29, 2013 @
11:19 AM
My own opinion is that a My own opinion is that a correction or steady decline isn’t the only problem. If worse case scenario happens and gold does become all important, the government and people of financial influence are not going to hand over the wealth. As before, there will be price controls, taxes, and god knows what else that will significantly reduce the return you will get on your gold investment. They will mandate a “fair price” and make it illegal for individuals to own gold.
scaredyclassic
December 29, 2013 @
12:19 PM
it’s a big world. the price it’s a big world. the price of gold is about as controllable as bitcoins.
bob2007
December 29, 2013 @
7:55 PM
I do not agree with that I do not agree with that statement, see below. It was assumed that some people moved their gold to Switzerland, but I’m not sure that would be doable today as the big world is a whole lot smaller with the records and cooperation between countries today. I do not think there is a record required right now if you purchase gold, but its not inconceivable that companies could be forced to cooperate, and there would have to be a record where you stashed the stuff outside the country.
Executive Order 6102 is an executive order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt “forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States”. The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (equivalent to $372.75 today[3]) per troy ounce. Under the Trading With the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $180,334 today[3]) or up to ten years in prison, or both.
Jazzman
December 30, 2013 @
9:14 AM
FT reports:
The gold mining FT reports:
The gold mining sector is braced for asset writedowns and a fall in the amount of reserves in the ground after the precipitous drop in the price of the metal this year.
Some of the world’s largest gold miners face having to tell investors that their growth has gone into reverse because the falling price has made it uneconomic to mine some of the areas previously classed as reserves.
Doesn’t that mean a shortage of supply will push prices up …eventually?
December 26, 2013 @ 3:01 AM
Between 800 and 1,000 by the
Between 800 and 1,000 by the end of 2014.
December 26, 2013 @ 9:21 AM
I continue to believe the
I continue to believe the piper must be paid and he shall demand to be paid in gold. Though perhaps not in my lifetime.
I believe some of the best investments may be actual smallish valuable things bought used at steep discount which you can store and sell on ebay 10 years from now on ebay.
Expect 5 to 10 percent returns.
December 26, 2013 @ 10:14 AM
I predict I will get older
I predict I will get older and grumpier next year….
December 26, 2013 @ 11:09 AM
I think my grumpiness
I think my grumpiness actually peaked in 09 and is on a gradual longterm decline
December 29, 2013 @ 11:19 AM
My own opinion is that a
My own opinion is that a correction or steady decline isn’t the only problem. If worse case scenario happens and gold does become all important, the government and people of financial influence are not going to hand over the wealth. As before, there will be price controls, taxes, and god knows what else that will significantly reduce the return you will get on your gold investment. They will mandate a “fair price” and make it illegal for individuals to own gold.
December 29, 2013 @ 12:19 PM
it’s a big world. the price
it’s a big world. the price of gold is about as controllable as bitcoins.
December 29, 2013 @ 7:55 PM
I do not agree with that
I do not agree with that statement, see below. It was assumed that some people moved their gold to Switzerland, but I’m not sure that would be doable today as the big world is a whole lot smaller with the records and cooperation between countries today. I do not think there is a record required right now if you purchase gold, but its not inconceivable that companies could be forced to cooperate, and there would have to be a record where you stashed the stuff outside the country.
Executive Order 6102 is an executive order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt “forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States”. The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (equivalent to $372.75 today[3]) per troy ounce. Under the Trading With the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $180,334 today[3]) or up to ten years in prison, or both.
December 30, 2013 @ 9:14 AM
FT reports:
The gold mining
FT reports:
The gold mining sector is braced for asset writedowns and a fall in the amount of reserves in the ground after the precipitous drop in the price of the metal this year.
Some of the world’s largest gold miners face having to tell investors that their growth has gone into reverse because the falling price has made it uneconomic to mine some of the areas previously classed as reserves.
Doesn’t that mean a shortage of supply will push prices up …eventually?