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  1. #76
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    Remember oil when it was 150 USD and it couldn't go down and it would go 300 ?
    Can't say that I do.

    What's it at now..... 20, 200, 2000 $?

  2. #77
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    eventually price of gold will crash, that's a certainty, when and how much will it crash is the only question, and I can assure you that nobody has the answer, nobody

  3. #78
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    eventually price of gold will crash, that's a certainty,
    Better not be bloody now.

    Ups and downs of markets are always interesting though.

    The house next to us was bought for 50,000 pounds in 1994. They sold it 5 years later for 250,000.

    We bought ours for 30,000 in 1985, was valued at 400,000 4 years ago. Forced sale for 300,000 2 years later.

    If I sold me gold yesterday, and bought back today, I'd have an extra 1000b for an oil massage/headjob combo this afternoon.

    Thems the breaks.
    Last edited by The Master Cool; 02-07-2010 at 12:10 PM.

  4. #79
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    I will still be buying gold coins, buy in the dips.
    This is always a quiet time for gold, recovery in the autum.
    Interest rates are crap and i think will stay that way for some time.
    I have had my bottom spanked already with shares.
    My pension fund looks crap.
    Endowment policies are worth 50% of projections.
    I am in the South East of the UK and so rents from property has been ok.
    I sold off any paper gold 2 weeks ago and paid off a commercial mortgage.
    Swings and roundabouts in a spread basket.
    It is about liquidity, including my own.

  5. #80
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    Quote Originally Posted by The Master Cool
    Ups and downs of markets are always interesting though.
    they constitute what we call risk, something the majority of small investors do not understand or fail to grasp. If you are going to make 10% on an investment but the risk is very high, you are being fucked at the end. For that level of risk, you should have made 40%, so actually you didn't make 10%, you made a relative -30% but you don't see it because ignorance is bliss for small investors, that's why they keep being fucked over and over, that is buying at the high and selling at the low

    Investment is all about risk and how to manage it, not simply returns.

  6. #81
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    ignorance is bliss
    Amen.

    Well, not as blissful as it would be if I still had as much money a when I first bought in.

    Still 50b per baht under.

  7. #82
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    Down 200b per baht weight today.

    I'm down a whopping 400b today alone and yet to even have me breakfast.

  8. #83
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    If you decided not to sell when the initial profit was made, ignore daily drops and wait for the gold season to start in August/September. Its paper gold being sold right now,gold coins (as i only hold) are still selling at a 6-12 % premium over spot price.

  9. #84
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    What does all this money tied up in gold do for the world economy? Does it create jobs? Wouldn't it be in the interest of governments to get people to move money from gold into places where it could do something for business? Money sitting in gold just seems to be doing nothing for the state of the world economy. Am I wrong about this? Any thoughts on this?

  10. #85
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    ^ I wouldn't agree Paul.

    The gold standard was a fantastic boomimg period (the most ever?) for Britain's economy; a solid foundation for dealings worldwide...

  11. #86
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    goI don't really know what 'the gold standar' means. I know that in the past the government bought gold to back up its currency. In those days I'd guess the money wasn't invested in gold because currencies were much more stabile. Nowadays, governments don't hold as much gold in relation to their currencies and individuals hold gold. So there's all this gold sitting in boxes waiting for the day of sale. The gold invested in gold stocks offers gold producers money to expand but are there hundreds of thousands or millions of jobs being created by those companies? Maybe I don't know. I just know that money put in banks supports their reserves and allows them to offer more out through loans. I would guess money spread across a variety of stocks allows many companies access to capital for expansion.

  12. #87
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    ^ I'm certainly no expert either, just enjoy history.

    In years gone by, British company's international dealings, currency, stock market, burrowings, etc were underpined by physical gold in the Bank of England. How was this calculated? By a set price: Gold Standard. The entire world knew that when they dealt with Britain or government sanctioned British companies that the deals/money were guaranteed by real physical gold; nice to know hey!

    What is the best item/thing/commodity to support your dealings? Who knows, but for sure: computers, paper money and promises mean close to nothing... Gold is gold, and has never been bettered (or equaled) as a standard.

    ^ This is one reason why, in a world of false promises, computer cheats, and printing money to fight inflation, etc, that GOLD is a tangable asset that people trust above and beyond other items (except land perhaps, but land can be taken away; and historically has been on numerous occassions to suit the folk in power who were short on finances at the time...) that can be picked up (sometimes in a big truck), taken with you and always seems to retain the majority of its value; nothing else does.

    So, buy gold over a medium term when the world economy is in chaos: only a fool would say no!

  13. #88
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    Quote Originally Posted by PaulBunyon
    What does all this money tied up in gold do for the world economy? Does it create jobs? Wouldn't it be in the interest of governments to get people to move money from gold into places where it could do something for business?
    that's a good point, and the result of a paradox. As things are not improving after the bursting of two huge bubbles in the last 20 years, individuals are looking for safe haven with assets like gold and property, but in doing so they are actually fueling another bubble, and to make things worse, as you said, that money is not moving hence compounding the effects of a slow down in the economy. However, central banks have been pumping money into the system to make up for it, so there is still too much money floating around, which in turns crash interest rates and fuel other bubbles. It's an endless circle.

    Quote Originally Posted by PaulBunyon
    Money sitting in gold just seems to be doing nothing for the state of the world economy. Am I wrong about this? Any thoughts on this?
    Hence the possibility of seeing GOLD going to 2,000 USD before it bursts and take a lot of individual investors with it. Once the individual investors realize that nothing is safe anymore, not even Gold, they will start spending again like there is no tomorrow and that will rise the level of interest rates eventually and fuel inflation. Solution ? not sure, it's getting crowded out there and there is no that much choice available. Incidentally, a lot of money is pouring into Hedge funds, as the rich are also getting desperate to get more returns for their money and protect against inflation.

  14. #89
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    GOLD going to 2,000 USD before it bursts and take a lot of individual investors with it. Once the individual investors realize that nothing is safe anymore, not even Gold, they will start spending again like there is no tomorrow
    Solution ?
    Sell when it gets to $2000, then invest in consumer goods?

  15. #90
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    Quote Originally Posted by The Master Cool
    Sell when it gets to $2000, then invest in consumer goods?
    you do realize that it could go to 1950 USD before it crash ? what do you do then ?

  16. #91
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    the rich have found a solution to unload their cash since they get nothing great without taking huge risk, charity foundation or "humanitarian" work

    all of this prove one thing, that corporations are making too much money, that is overcharging customers and therefore taking their income away to distribute to the shareholders, who in turn blow it all on stupid assets that burst eventually, and when everything fails, they give it away to charity

    doesn't anyone see anything wrong with that picture ?

  17. #92
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    To be honest the way the world does business nowadays is too confusing for me. It's hard to figure things out. I guess Butterfly you are refering to the likes of Bill Gates and Warren Buffet's plans to give away half of their wealth to charity?

    Actually I think both Gates and Buffet have admitted that the way the financial world works isn't really fair. It's just the way it is. Money makes money and at the moment the wealthy aren't taxed in a way that they actually pay. I think that Buffet said his secretary pays more than he does in the end.

    I don't think the big money people put their money in gold. The put it in business opportunities. Is there anyone who actually has become rich through gold other than those selling it for a living like the shop owners or stockbrokers? Every day that Gold doesn't go up is lost potential if things turn around. It's all about the long term picture of the economy and selling before the crash which will determine the ultimate value of the gold people hold.

    As I wrote in that other thread, the boom in gold looks to be as much a bubble as all the rest of the other bubbles over the years. I wonder how much of the investment in gold is in physical verses paper market holdings.

    Selling the gold in your hand won't be easy if there's a sudden drop. Those who own shares in gold stocks and other paper holdings will get out before most other people.

    It will be a real scene seeing Thais lining up at those Chinese shops trying to sell off their 5 baht worth of gold or whatever they own. I don't know much about how things work as in whether there is a set 'locked in' price per day by the government. Can the market makers(Chinese shop owners) just close their doors to sellers? In 1997 there was a big sell off but I can't remember how that went. Is there going to be enough liquidity to pay all the frantic sellers who want to dump their gold when they see prices dropping quickly. I just see a crazy scene when that day comes.

  18. #93
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    I am with you Butterfly.

    I heard a whisper Gold Traders are expecting 24,000 within 12 months.

    Thai Chinese buying big at the moment (take a look in Hua Seng Heng).

    Cheers

  19. #94
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    Up 150b this morning.

    So now I'm only 700b worse off than if I left me money in Kasikorn.

    Which incidently is where the rest of me leftover scraps have been staying.

    Might still buy a five bahter at the end of the month though.

  20. #95
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    Might still buy a five bahter
    I still wonder what the obligations of the shop owners are when everyone runs to sell their gold off as fast as they can in the event of a collapse. Those with electronic investments will get out first just as those with electronic bank accounts can dump currency in seconds if need be. Those holding actual currency will have to run to the bank or currency exchange box and get in line to dump their currency. Just imagine if people held paper stock certificates like they once did. Those days are pretty much gone as far as I can see. Anyways, You can't run faster than electricity. But who knows when the day gold cashes will come or if it ever will.

  21. #96
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    I still wonder what the obligations of the shop owners are when everyone runs to sell their gold off as fast as they can in the event of a collapse.
    If it completely collapses..... isn't that the right time to buy it up for pennies?

  22. #97
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    ^ only if drops by 50% or more

  23. #98
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    Kasikorn 0% is feeling good.

  24. #99
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    Watch out for ripoffs. There's a story about a gold company endorsed by Glenn Beck which is under investigation. Interesting story anyways. (This could also go under Fox news as well)

    A Probe Into Gold Company Promoted by Glenn Beck

  25. #100
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    Quote Originally Posted by The Master Cool
    Kasikorn 0% is feeling good.
    I thought you wanted to invest over a 2 year period?

    K-bank at 0% = well, no return oninvestment.
    Gold = you'll have to wait and see, but my guess is it'll be a bit more than 0%.

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