As I predicted.... Go Gold Go!

[Doug Edwards, CMI]

The paper is worthless while the gold increases in value. Just read yesterday the world's supply of gold is run out. In other words, very little is being mined or recovered making that on hand worth even more (supply and demand). During Carter Admin gold tripled in value, many speculate this will happen again. Noticed all the ads on TV for selling any gold jewelry you have laying around? That would be stupid, trading gold for paper. Meanwhile, China is building up their gold supply / reserves. Only one thing bothers me. If the economy crashes, what is prevent the Gov't from seizing all gold and silver....again.

[rbrady]

Originally Posted by dedwards

The paper is worthless while the gold increases in value. Just read yesterday the world's supply of gold is run out. In other words, very little is being mined or recovered making that on hand worth even more (supply and demand).

There is less silver in the world than gold, because more silver is consumed in manufacturing.

During Carter Admin gold tripled in value, many speculate this will happen again. Noticed all the ads on TV for selling any gold jewelry you have laying around? That would be stupid, trading gold for paper. Meanwhile, China is building up their gold supply / reserves. Only one thing bothers me. If the economy crashes, what is prevent the Gov't from seizing all gold and silver....again.

At least they pay you for it when they confiscate it. I believe they paid a decent premium when they confiscated it in the 1930's. You could not open your safety deposit boxes without someone to see if you had gold in there.

[Doug Edwards, CMI]

Yeah, but they still pay you with worthless paper.

[rbrady]

I don't think the government ever confiscated silver. It can get bulky, but it's not "worthless" paper.

[Nick Gromicko]

I have this on Craigslist http://boulder.craigslist.org/clt/1458463515.html $1,000.00 discount to InterNACHI members. The melt price is over $2,300.00 and the center coin is quite rare and worth about $700 alone.

[Steven C. Waskewicz]

http://money.cnn.com/2009/10/06/pf/gold_investing_bubble.fortune/index.htm


too much work watching the daily swings to make it worth while...

[Douglas Wall]

Great idea Doug, use cheap dollars for cheap laughs (Classic car prices are more stable) my kind of investing, but a Corvette

I had a 240 Z for 5 years, drove it on Sunday as they say- best car and most fun I ever had (sold it for twice what I payed for it - dumb move). G Kids like the vettes, have to have a car in my name for taxes. Corvette are often babied so easy find. I doubt I'll drive it much, if I have time I'd rather be in my boat. My other choice is a VW bug - go figure.

At my age the car shows are fun. We got a condo in Orlando this year and lots of car shows up there - something to do on weekends.

[gbeaumont]

Originally Posted by douglas

At my age the car shows are fun. We got a condo in Orlando this year and lots of car shows up there - something to do on weekends.

Wish I had known that you're and old gearhead Doug, we had a great show here 2-3 weeks ago 200-300 British classics in Downtown Safety Harbor, there was some great stuff there. I spent so much time wiping off drool that I didn't take many pictures but here's a couple.

(extra points for naming them )

Regards

Gerry

[Joe Funderburk, CMI]

If anyone wants to know how to invest directly in gold within an IRA, send me an email. I'll forward you an article about how to do it. (I'm putting about 10% of my IRA in gold.)

[Douglas Wall]

I didn't take many pictures but here's a couple.

Gerry
Got out of the army and worked seven days a week for six months saving money to buy a Austin Healey Mark 3000. One cold winter day I walked into the dealers with my check book and said "I want that car".
Saleman said you can't have it, the dealer is buying it, they just stopped production. No body had any left.
Now that was a sad day in my life I've never forgotten. Since I worked for Ponitac, bought a GTO, just not the same.

Went to Zepherhills last weekend, was fun.

[rbrady]

Originally Posted by jfunderburk

If anyone wants to know how to invest directly in gold within an IRA, send me an email.

For starters, you can buy any of these with any stock trading account:
GLD (gold ETF)
UGL (2x gold ETF)
SLV (silver ETF)
FKRCX (precious metals mining fund)
BGEIX (precious metals mining fund)

A new fund which I have not bought yet is GDXJ, it's a junior mining fund.

Just remember to buy low and sell high

[Joe Funderburk, CMI]

Originally Posted by rbrady

For starters, you can buy any of these with any stock trading account:
GLD (gold ETF)
UGL (2x gold ETF)
SLV (silver ETF)
FKRCX (precious metals mining fund)
BGEIX (precious metals mining fund)

A new fund which I have not bought yet is GDXJ, it's a junior mining fund.

Just remember to buy low and sell high

Those investments are not the same thing as owning gold. For example, GLD is a security that serves as a paper proxy for owning gold. It is not the same as direct ownership of physical gold. The GLD website explains: "SPDR Gold Shares represent fractional, undivided beneficial ownership interests in the Trust, the sole assets of which are gold bullion, and, from time to time, cash"

Things to consider: (1) holdings are not inspected or audited, (2) holdings are not insured, and (3) it's not clear if its holdings may include gold certificates and other "paper" gold vehicles as substitutes for gold bullion. In other words, there is counterparty risk (where the value and safety of your investment relies on others to honor their obligations or remain in business.) This may be suitable for traders, but it doesn't seem well-suited for those wishing to build a long-term position that is guaranteed to be absolutely secure.

[Nick Gromicko]

It topped $1,150 today. The more the world governments print paper money the more rare gold becomes in comparison.

[Brian E. Kelly]

Originally Posted by rbrady

There is less silver in the world than gold, because more silver is consumed in manufacturing.
.

How exactly is the Silver "Consumed" in manufacturing??? Is this something new.

[Joe Funderburk, CMI]

Originally Posted by bkelly2

How exactly is the Silver "Consumed" in manufacturing??? Is this something new.

Industrial uses such as electronics, silverware, photography, jewelry...