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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (42091)	11/1/2008 6:19:55 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217910

i am wondering how much gold i could have added recently at 913 after collecting gold and platinum over an 24 years elapsed time, checked, and it turned out to be less than 0.23% the paper gold added is to track the physical gold i must convert to at the opening of the new year regardless of price, i.e. meant for ltbh i do not see a problem. do you?

To: Haim R. Branisteanu who wrote (42091)	11/1/2008 8:30:06 PM
From: Don Earl	3 Recommendations Read Replies (1) \| Respond to of 217910

RE: "So better learn to buy low and sell high to keep your wealth" Gold rarely works that way. It's easy to look at a chart and say, "Gold was low in 1999. That was the time to buy.". In 1999, a dollar was worth around $1.40 Euros and gold was around $300. At it's recent peaks, gold was $900-$1000, but a dollar would buy as little as $.63 Euros. That puts your 1999 price of gold at around $700. As a mechanism to store wealth, it is fairly effective. If by some odd chance, we return to a strong dollar, and gold falls by a corresponding amount, those holding gold are still able to trade it in for dollars that will buy more than they will today. By the same token, if the dollar collapses, the gold can be traded for a wheelbarrow full of fiat dollars, which can conceivably be used to service existing debt on assets such as real estate. Gold is currently seeing the same kind of radical, unpredictable volatility that is taking place in virtually every market on anything that can be traded, even on things that typically are not volatile. From what I can tell, what we're seeing now is the same thing that started with the crash in 1929. If that pattern repeats, the wild swings will continue for several more years, with breath taking drops, followed by huge short term gains that never quite reach the previous levels. And, as you note, "no one is smart enough to pick the bottom and sell the tops", especially when the moves are entirely random and appear not to be governed by any kind of fundamental, rational response to current conditions. IMO, the greatest risk right now is holding any paper instrument that is intended to represent assets, where the assets may not exist: paper money, paper stock certificates, paper bonds, paper futures contracts, etc.. If you just want to gamble, buy a lottery ticket instead. At least you know up front that it's a game and the paper probably isn't worth anything outside of a stroke of pure, dumb luck. Like the old saying goes, "Possession is nine tenths of the law.". If you can hold it in your pink patty paws, it's a lot harder for someone to take it away from you.