Buying Gold with my Thai savings?

**Butterfly** · 26-07-2010, 03:34 PM

yes with 0% you could outperform the Gold market by 50% if it drops 50%

isn't that wonderful ? I pitty the fools who buy Gold these days, it's getting riskier than ever.

**Bettyboo** · 26-07-2010, 03:42 PM

^ A 2 year investment period Papillion; we'll have to wait and see...

**larvidchr** · 26-07-2010, 04:14 PM

I dont know, I suppose investing in gold is a way of playing it safe, if it keeps going up you make money, but one thing is sure it will never go down to nothing, gold cant crash so devastatingly as stocks where you might end up with nothing.

In times of crisis on the financial markets gold go up, if a full blown recovery sets in with full confidence in the financial market gold will fall quite a bit, but most central banks will always keep quantities of gold as an emergency reserve.

**socal** · 28-07-2010, 06:59 AM

Originally Posted by Butterfly

yes with 0% you could outperform the Gold market by 50% if it drops 50%

isn't that wonderful ? I pitty the fools who buy Gold these days, it's getting riskier than ever.

That is the dumbest thing I have ever read.

Do you know anything about investing ? Did you know that US treasury bonds have been in a bull market for 30 years and you think the bubble is in gold ?

People said gold was risky at $600. All they have to show for that is losses because if you held fiat paper dollars that whole time, you lost purchasing power when priced in gold. The bubble is in fiat paper money and just when the sheeple thought they had this bubble thing figured out, they will get burned again by holding cash.

No offence but I can just tell that you don't know anything about macro economics. T

**socal** · 28-07-2010, 07:03 AM

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? 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?

No, you can lend out gold at interest.

The hard money crowd (me included) can do what it wants regardless of what it does for the economy.

**The Master Cool** · 28-07-2010, 10:57 AM

Down to 17,850.

I'm 800 down per baht weight.

**socal** · 28-07-2010, 11:27 AM

Originally Posted by The Master Cool

Down to 17,850.

I'm 800 down per baht weight.

are you a day trader or an investor ?

When I bought at 860 and it went down to 820, considering the sound fundamentals, I was not concerned.

**The Master Cool** · 28-07-2010, 12:00 PM

I'm not actually the least bit concerned. Didn't even put in 40k.

Was gonna start putting the 20k or so pocket change I'm left with every month into something easy, as I've no real need for it.

**wefearourdespot** · 29-07-2010, 12:41 AM

Originally Posted by larvidchr

I dont know, I suppose investing in gold is a way of playing it safe

no , it isn't

Originally Posted by larvidchr

but one thing is sure it will never go down to nothing, gold cant crash so devastatingly as stocks where you might end up with nothing.

wrong again, gold topped at 800 bucks in 1980 and was just 300 in 2000 , considering also inflation that was a staggering -80%

**wefearourdespot** · 29-07-2010, 12:43 AM

Originally Posted by The Master Cool

Down to 17,850.

I'm 800 down per baht weight.

Considering you stupidly redded me in the Vietnam foolish/enslaved/brainwashed females soldiers thread, I'm quite happy for that and wish you further downturns.

**sabang** · 29-07-2010, 01:44 AM

Sell Gold.

**Bower** · 29-07-2010, 02:14 AM

Originally Posted by sabang

Sell Gold.

Should i buy some first ?

**sabang** · 29-07-2010, 02:46 AM

You can sell gold without buying it actually. Not for the faint hearted.

**Bower** · 29-07-2010, 03:33 AM

^ Selling short, not me Sir!

**The Master Cool** · 29-07-2010, 11:20 AM

Originally Posted by wefearourdespot

Considering you stupidly redded me in the Vietnam foolish/enslaved/brainwashed females soldiers thread, I'm quite happy for that and wish you further downturns.

Sounds like someone (you) has a very small penis.

**Butterfly** · 29-07-2010, 12:43 PM

Originally Posted by socal

Originally Posted by Butterfly

yes with 0% you could outperform the Gold market by 50% if it drops 50%

isn't that wonderful ? I pitty the fools who buy Gold these days, it's getting riskier than ever.

That is the dumbest thing I have ever read.

Do you know anything about investing ? Did you know that US treasury bonds have been in a bull market for 30 years and you think the bubble is in gold ?

People said gold was risky at $600. All they have to show for that is losses because if you held fiat paper dollars that whole time, you lost purchasing power when priced in gold. The bubble is in fiat paper money and just when the sheeple thought they had this bubble thing figured out, they will get burned again by holding cash.

No offence but I can just tell that you don't know anything about macro economics. T

aren't you one of those vapid Faux watchers ?

typical fool being played by his own peers, how many gold coins so far have you bought from that Faux host ?

whatever you do, don't stop drinking that Kool Aid, you will need it

**larvidchr** · 29-07-2010, 02:21 PM

Originally Posted by wefearourdespot

Originally Posted by larvidchr

I dont know, I suppose investing in gold is a way of playing it safe

no , it isn't

Originally Posted by larvidchr

but one thing is sure it will never go down to nothing, gold cant crash so devastatingly as stocks where you might end up with nothing.

wrong again, gold topped at 800 bucks in 1980 and was just 300 in 2000 , considering also inflation that was a staggering -80%

Gold goes up and down, some say that calculated with inflation on average it stays pretty neutral, meaning it pretty much on average has the same value in buying power now as years ago.

Your can always find the extreme ups and downs to use as examples but it is the average value that counts for people buying gold for having some stash that will always retain some real trading value, unlike paper money who is exactly that nothing but paper if the shit hit's the fan.

And the case remains that Central banks still do buy Gold as a safety investment, notably the Chinese and the Indian Central banks have brought more gold during this latest financial crisis, so they have a different view to you, as have most other Central banks, and I for my part know who i would rather believe.

Fact, you own some gold and some stock, the stock can become complete worthless the gold will always represent some trading value.

**Bower** · 17-08-2010, 10:07 PM

Originally Posted by The Master Cool

I'm not actually the least bit concerned. Didn't even put in 40k.

Was gonna start putting the 20k or so pocket change I'm left with every month into something easy, as I've no real need for it.

Did you continue to buy in the dips ?

**PaulBunyon** · 18-08-2010, 08:02 AM

A Thai person made a comment recently to me about how the US doesn't back its currency with gold then she went on to say that Thailand's currency is backed 100% by gold. I doubted that but who knows maybe I'm wrong about that. What do you know about currencies being backed by gold. Are there any that actually are backed by gold 100% nowadays?

**Bettyboo** · 18-08-2010, 08:08 AM

Originally Posted by PaulBunyon

Are there any that actually are backed by gold 100% nowadays?

No. The gold standard died out many many moons ago... I can't see the Thai banks/currency being 100% supported by gold reserves - very unlikely indeed.

**matsalleh** · 18-08-2010, 09:08 AM

Originally Posted by Bettyboo

Originally Posted by PaulBunyon

Are there any that actually are backed by gold 100% nowadays?

No. The gold standard died out many many moons ago... I can't see the Thai banks/currency being 100% supported by gold reserves - very unlikely indeed.

BB, if the paper is correct, Thailand is on place 33, holding 84.0 metric tons of gold, or 2.1% of the FOREX reserves.
US and Germany as first and second with 8,133 metric tons and 3,407 respectively. Those figures are based on the official Gold holdings as per December 2009.

Gold reserve: Information from Answers.com

**The Master Cool** · 18-08-2010, 10:48 AM

Originally Posted by Bower

Originally Posted by The Master Cool

I'm not actually the least bit concerned. Didn't even put in 40k.

Was gonna start putting the 20k or so pocket change I'm left with every month into something easy, as I've no real need for it.

Did you continue to buy in the dips ?

Nah. might pick up one or two 5b bars in the future should I be bothered. Not going to pick up a bahts worth every month as planned. Will be interesting to see in a few years time to see how much I've gained or lost. Only a bit of a game really.

**PaulBunyon** · 18-08-2010, 12:11 PM

Thanks for the link. I checked and there's a wiki page with the am info...

Gold reserve - Wikipedia, the free encyclopedia

So that means the US has the most Gold in reserve and the most gold backing its currency too, right?

On Wiki they also broke holdings worldwide down like this...

Holding Percentage
Jewelry 52%
Central banks 18%
Investment (bars, coins) 16%
Industrial 12%
Unaccounted 2%

As the poor have better lives they do buy more gold jewelry. The people in places like China and India are sure to buy more if their buying power increases. There's a lot of support there for this metal.

**socal** · 18-08-2010, 01:27 PM

Originally Posted by matsalleh

Originally Posted by Bettyboo

Originally Posted by PaulBunyon

Are there any that actually are backed by gold 100% nowadays?

No. The gold standard died out many many moons ago... I can't see the Thai banks/currency being 100% supported by gold reserves - very unlikely indeed.

BB, if the paper is correct, Thailand is on place 33, holding 84.0 metric tons of gold, or 2.1% of the FOREX reserves.
US and Germany as first and second with 8,133 metric tons and 3,407 respectively. Those figures are based on the official Gold holdings as per December 2009.

Gold reserve: Information from Answers.com

The Euro zone holds more gold then the US, 10,000 tons+. Plus the Euro zone marks its gold holdings to market every 3 months, the US Fed has theirs marked at $45.

**socal** · 18-08-2010, 01:30 PM

Originally Posted by PaulBunyon

Thanks for the link. I checked and there's a wiki page with the am info...

Gold reserve - Wikipedia, the free encyclopedia

So that means the US has the most Gold in reserve and the most gold backing its currency too, right?

On Wiki they also broke holdings worldwide down like this...

Holding Percentage
Jewelry 52%
Central banks 18%
Investment (bars, coins) 16%
Industrial 12%
Unaccounted 2%

As the poor have better lives they do buy more gold jewelry. The people in places like China and India are sure to buy more if their buying power increases. There's a lot of support there for this metal.

No, the Euro zone has more gold. The US does not have any gold backing the dollar. The only thing backing the dollar is treasury debt.

I have been buying the dips in bullion and mining stocks for a while now.

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