Dawood Posted March 16, 2008 Author Share Posted March 16, 2008 Read today that gold broke to over $1000 per ounce... if you got in a week ago at around $958 you just made a little bit of change depending on initial overall investment. Props for money. usually there's about a $35 spread, so if you got in at $958 and it just broke a G, there's not really any profit until after that $35 spread if you're dealing with gold dealers which is really the only way to buy/sell on the spot without having to look for a buyer. Quote Link to comment Share on other sites More sharing options...
OL'DIRTYGeEEZER Posted March 17, 2008 Share Posted March 17, 2008 i just found out my dad has hella onces of gold in the bank...no wonder nigga just bought a brand new car and a house in Hawaii He aint sharin any of his wealth... Quote Link to comment Share on other sites More sharing options...
angelofdeath Posted March 17, 2008 Share Posted March 17, 2008 "Investing now is too late. You are more likely to see loss, prices wont go up for ever. To see worthwhile returns, at over a grand an ounce, you would need to put up $10,000 minimum assuming prices continue to go up. Also have fun trying to sell that back. Im sure there are plenty of people willing to sell to you, but liquidating gold is a bitch. Gold, historically, has been a terrible investment." gold is not an 'investment' per se. while it is possible to 'make money' buying and selling gold, one generally chooses to hold gold to make a statement and to protect what you have. gold has held the same purchasing power basically since it was adopted as money by the market. once everyone is talking about something, like flipping houses, buying gold, it is usually time to sell out while you are ahead. if you buy gold, you should buy it to hedge inflation. holding gold is no different than stacking cash under your mattress. the only difference is, that gold will hold its purchasing power, where as the cash loses purchasing power. if you are buying gold now, one thing is for sure, you think the economy is headed for depression or crisis and that by holding gold it will allow you to keep some of your wealth to the other side of the crisis. just remember what it is. it is money. it is not a stock that goes 'up' in value, it is a commodity chosen by the market and it still reigns the supreme sign of wealth. when the dollar goes down, gold essentially goes 'up.' but it is not really going up, the dollar is going down in regards to purchasing power. if you bought lots of gold when it was cheap in terms of federal reserve notes, say 200$ an ounce... the general advice is to have a line in the sand. like 1000$ or 1500$ an ounce. then sell a percentage and put the money into tangible investments like land, or something that tends to hold its value. there is no doubt gold will continue to 'go up' in terms of federal reserve notes. consider that in 1933 gold was 20$ an ounce. later it was changed to 35$ an ounce. today you need 1000$ federal reserve notes to buy that same ounce of gold. so if history is any indicator of future trends, there is one thing for sure... gold will continue to climb in terms of federal reserve notes and it indicates the inflation rate. but one thing is for certain... no one ever went broke buying and holding gold. Quote Link to comment Share on other sites More sharing options...
ILOTSMYBRAIN Posted March 17, 2008 Share Posted March 17, 2008 http://www.youtube.com/watch?v=HwRIzNyArRY&feature=related Yeah boyyy. Don't let this happen to you. Quote Link to comment Share on other sites More sharing options...
MOE-LESTER Posted March 18, 2008 Share Posted March 18, 2008 gold is too high to buy right now. alot of older folks ive talked to seem to think the gold bubble will burst soon and come down a bit in prices. then its time to swoop up on a couple ounces. its way better to have gold in the safetey deposit than paper with numbers on them. Quote Link to comment Share on other sites More sharing options...
Dawood Posted March 18, 2008 Author Share Posted March 18, 2008 http://www.youtube.com/watch?v=HwRIzNyArRY&feature=related Yeah boyyy. Don't let this happen to you. that's jammed up...tent cities. Quote Link to comment Share on other sites More sharing options...
angelofdeath Posted March 18, 2008 Share Posted March 18, 2008 gold is too high to buy right now. alot of older folks ive talked to seem to think the gold bubble will burst soon and come down a bit in prices. then its time to swoop up on a couple ounces. its way better to have gold in the safetey deposit than paper with numbers on them. lots of people think that 1000 or 1500 an ounce is a psychological high. the prediction is, as has happened in years past, was that once gold hits a certain point, people begin to sell out and it generally drives the prices back down. say this time it might get driven back down to 900 oz. it all depends on your situation. gold is still relatively cheap adjusted for inflation. in 1980 gold peaked @ 850 OZ. adjust that for inflation, and todays 1000$ oz gold is still pretty 'cheap.' if you have a portfolio that is worth about 50K, i'd damn sure have atleast 10% of that in gold right now and wouldnt hesitate to buy it right now, because i feel that the economy is not going to be any better any time soon. if a depression does come from this, as it looks like we might be on a slow countdown to one, i'd much rather have gold than a bunch of worthless stock certificates. people have been saying gold is 'to high' right now since it peaked 300$ an ounce during the housing bubbles formative years. then it hit 500$. everyone said it was too high. then 700$. 'too high.' now its 1000$. as long as the dollars value is in the gutter and the fed keeps inflating (generally. but they are deflating right now, ironically) gold will keep 'going up.' we are witnessing the demise of the dollar right now folks. i'd much rather 'overpay' for that ounce of gold (they have been saying gold has been over valued since it hit 300$ an oz. ) to try to keep what i have during hard times. you will still be holding tangible money, not federal reserve currency. Quote Link to comment Share on other sites More sharing options...
Poesia [ ] T Posted March 21, 2008 Share Posted March 21, 2008 Gold Falls to Biggest Weekly Drop Since 1990 as Dollar Rebounds By Pham-Duy Nguyen March 20 (Bloomberg) -- Gold futures fell, capping the biggest weekly loss since 1990, as the dollar rallied and traders pared bets on future cuts in U.S. interest rates by the Federal Reserve. Interest-rate futures show a 58 percent chance the Fed will cut borrowing costs by 50 basis points to 1.75 percent next month, compared with an 82 percent chance yesterday. The Fed has cut the overnight lending rate six times since September, when it was 5.25 percent. Gold reached a record $1,033.90 on March 17, before losing as much a $100 this week. ``Gold can thank the Fed and the dollar for this monstrous sell-off,'' said Matt Zeman, a metals trader at LaSalle Futures Group Inc. in Chicago. ``Right now, we are in no man's land.'' Gold futures for April delivery fell $25.30, or 2.7 percent, to $920 an ounce on the Comex division of the New York Mercantile Exchange. The price fell 8 percent this week, the biggest weekly drop for a most-active contract since August 1990. Silver futures for May delivery fell $1.595, or 8.6 percent, to $16.85 an ounce on the Comex, dropping 18 percent for the week. Silver still is up 13 percent this year, while gold has gained 9.8 percent. The dollar rose as much as 1.1 percent against a basket of six major currencies, reaching 72.922. On March 17, the index fell to 70.698, the lowest ever, according to Bloomberg data. Six-Month Rally Gold had rallied as much as 38 percent since the Fed began cutting the overnight lending rate on Sept. 18 as a housing slump and credit-market losses threatened to usher in a U.S. recession. The cuts sent the dollar to all-time lows against the euro and boosted the value of commodities that are priced in the U.S. currency. Oil, soybeans, platinum and wheat futures all rose to records this year. Demand for precious metals soared as investors purchased gold and silver contracts to hedge against the declining dollar and commodity inflation. The UBS Bloomberg Constant Maturity Commodity Index of 26 commodities fell as much as 3.3 percent to 1,384.485 today, after reaching a record 1,573.838 on Feb. 29. ``The psychology of the market has moved manifestly against gold,'' said Dennis Gartman, economist and editor of the Gartman Letter in Suffolk, Virginia. ``The dollar is strong. The other commodities are weak. That is putting downward pressure on gold.'' Holdings in the StreetTracks Gold Trust, the biggest exchange-traded fund backed by bullion, fell 2.3 percent yesterday to 648.8 metric tons from a record 663.8 tons reached on March 17. Gold may drop to $850 before investors return, said Stuart Flerlage, who helps manage more than $600 million at NuWave Investment Corp. in New York. `Cyclical Correction' ``This is a cyclical correction in a long-term secular market,'' Flerlage said. ``The fundamental underpinnings for gold remain the same. Gold has been a fiat currency play in the last five years as investors put money into gold to diversify away from dollar-denominated assets.'' Gold climbed 31 percent in 2007, the seventh straight annual gain and the most since 1979, when the price more than doubled. Gold broke the record of $873 set in 1980 on Jan. 8. This is the fourth weekly decline the metal has had this year. ``This is the correction we've long been expecting,'' said Adrian Day, president of Adrian Day's Asset Management in Annapolis, Maryland. ``It was triggered by buyer exhaustion. I would not sell and look to be a buyer again.'' Gartman, who sold half of his positions in gold yesterday, told clients today that gold may set fresh records by year-end. ``We are certain that sometime later this year, we shall see gold, and the grains and perhaps even the base metals trading materially higher than where they had traded earlier this week,'' Gartman said. Platinum, Palladium Platinum futures for April delivery dropped $9.70, or 0.5 percent, to $1,887.30 an ounce on the New York Mercantile Exchange. The metal fell 9.6 percent for the week. Palladium futures for June delivery fell $18.40, or 4 percent, to $446.05 an ounce. The metal dropped 13 percent for the week. Quote Link to comment Share on other sites More sharing options...
AllTheWrongWords Posted March 21, 2008 Share Posted March 21, 2008 Quote Link to comment Share on other sites More sharing options...
IOU Posted March 21, 2008 Share Posted March 21, 2008 Invest is this company: http://www.thegeogroupinc.com/whatwedo.asp The more people in jail the higher their stock goes. Fucking awesome. Plus its legal slave labor for companies to out source work to. Quote Link to comment Share on other sites More sharing options...
Poesia [ ] T Posted March 21, 2008 Share Posted March 21, 2008 He speaks the truth...^^^^^^^^^^^^^ Quote Link to comment Share on other sites More sharing options...
the.crooked Posted March 21, 2008 Share Posted March 21, 2008 Whoever was talking about 600k for a small family home, really needs to take a look at what's going down in houston for 600k.... [/color] shhh. dont blow up the spot. our cost of living/land is ridonculous compared to other cities of our size and population. Quote Link to comment Share on other sites More sharing options...
MOE-LESTER Posted March 21, 2008 Share Posted March 21, 2008 damn im am really glad i didnt buy any bullion. so, lately ive been hearing a few things. 1) invest in the INDIA hotel business. they are projected to make 25 million more this year than last year. the towel heads and hadjis are getting extremely rich off of the US, so we might as welll cash in. 2) the price of home developement has gone down. lumber and labor costs are very low, so it may be smarted to buy some land and buiuld a house than buy it. poesia what are your ideas on that shit? evbery day i drive by a small block that has been developed to fuck. at least 3 houses right near a very good public school, im sure each will sell for a million plus i think its one developer building the whole lot. talk about a come up. I NEED MONEY. Quote Link to comment Share on other sites More sharing options...
This is my name Posted March 21, 2008 Share Posted March 21, 2008 does anybody know how to siphon gas out of other peoples gas tanks?? cause im sure getting as much free gas as you can and saving it for a rainy day would be a good investment. I know this a joke... but, depending ont eh gas tank, it can be quite difficult. Certain tanks now have all sorts of corners and openings to get through to get to the main tank, not any size hose will fit in there... Quote Link to comment Share on other sites More sharing options...
This is my name Posted March 21, 2008 Share Posted March 21, 2008 damn im am really glad i didnt buy any bullion. so, lately ive been hearing a few things. 1) invest in the INDIA hotel business. they are projected to make 25 million more this year than last year. the towel heads and hadjis are getting extremely rich off of the US, so we might as welll cash in. 2) the price of home developement has gone down. lumber and labor costs are very low, so it may be smarted to buy some land and buiuld a house than buy it. poesia what are your ideas on that shit? evbery day i drive by a small block that has been developed to fuck. at least 3 houses right near a very good public school, im sure each will sell for a million plus i think its one developer building the whole lot. talk about a come up. I NEED MONEY. The country that is really appealing to me right now for foreign investments is Dubai, it just seems like a great place and their economy is doing rather well compared tot he rest of the world. They plan to have the first fully "green" city, as well as the world tallest sky scraper. Cool stuff. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 12, 2017 Share Posted August 12, 2017 Thinking of buying a small safe for birth cert etc Want to start buying small stacks of silver to keep in there too. More for a fun investment than a retirement thing Quote Link to comment Share on other sites More sharing options...
CALIgula Posted August 15, 2017 Share Posted August 15, 2017 I keep all my important documents and most valuables in a safety deposit box at the bank. Ive heard a few stories of people getting jacked by people who knew they had a safe (or gun safe) in their homes. Silver is an interesting investment though. .i looked into it a few years ago but never pulled the trigger....anyone here own bitcoins or dogecoins? Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 15, 2017 Share Posted August 15, 2017 I hold a small amount of crypto. Wild ride. 2 Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted August 15, 2017 Share Posted August 15, 2017 Shit a brick last night, too bad was not gold though. Re: safes, plenty of people get robbed for letting others see/know what they have. If you get a safe, stash it away if you can and don't tell people. You can get them in all sizes, can easily get one that stashes in a closet, under a bed, etc., fireproof/waterproof too. Not just for shit of monetary value either, any important docs you have that you don't want lost/damaged can go in there too. I keep all my riches in Chuck E Cheese tokens I mean come on- IN PIZZA WE TRUST. 1 Quote Link to comment Share on other sites More sharing options...
CALIgula Posted August 15, 2017 Share Posted August 15, 2017 I actually have a bunch of chuck e cheese coins too. ..every time one of my friends has a birthday for their kids, i somehow end up investing lol Quote Link to comment Share on other sites More sharing options...
Guest Posted August 17, 2017 Share Posted August 17, 2017 Well yeah wouldn't show any one. Just like I don't have a gun safe but don't make a habit of flaunting what I have. The worry would be a random b&e and the fucker scores. That's the cause of my unease with a small home safe.. You can just pick it up and walk out. Maybe safe deposit box is better Downside is annual fees Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 17, 2017 Share Posted August 17, 2017 Pfft just stay strapped at all times 1 Quote Link to comment Share on other sites More sharing options...
CALIgula Posted August 18, 2017 Share Posted August 18, 2017 Annual fees sucks but worth it in the long run. See if there are any ways to get the fees waived. ..for example, if you've been a bank customer for 20+ years, they might have a reduced fee or will waive it all together. Quote Link to comment Share on other sites More sharing options...
One Man Banned Posted August 18, 2017 Share Posted August 18, 2017 The worry would be a random b&e and the fucker scores. That's the cause of my unease with a small home safe.. You can just pick it up and walk out. Maybe safe deposit box is better Beyond not telling anyone you have a safe you don't have to leave it out in the open. I've seen the fireproof/waterproof ones at around 6"H x 12"W x 12"L at around $50, quite concealable or make your own concealment for it in a wall, rafters, etc. Your average B&E is not combing your home for shit like that, just grabbing some electronics or big ticket items in view and getting out. Quote Link to comment Share on other sites More sharing options...
CALIgula Posted August 23, 2017 Share Posted August 23, 2017 Also you can bolt it to the floor, or against the wall. ..ive heard of that. Quote Link to comment Share on other sites More sharing options...
Fist 666 Posted August 23, 2017 Share Posted August 23, 2017 And don't put it where people put safes. Bedroom/office closets, under the bed, etc are cliched and predictable in that regard. How many burglars check your pantry for snacks? Conceal it in an obscure place. Have a box that slides over it marked "bedding" or "gramma's books" or some such nonsense. Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 23, 2017 Share Posted August 23, 2017 How often do you get burgled? 1 Quote Link to comment Share on other sites More sharing options...
Fist 666 Posted August 23, 2017 Share Posted August 23, 2017 I've had my car broken into a few times, my house once. My dad's shop was robbed blind (a lifetime collection of tools). I've also been friends with a couple "professional" thieves over the years that instilled some sense in me. Proactive/paranoid. 2 Quote Link to comment Share on other sites More sharing options...
CALIgula Posted August 23, 2017 Share Posted August 23, 2017 Your gramma's books comment reminded me of book safes. Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 24, 2017 Share Posted August 24, 2017 Sorry to hear that Quote Link to comment Share on other sites More sharing options...
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