I'd say OP is right about gold prices going up. Since 1971 when the gold standard was abolished in the US, the price of gold has done nothing but go up. I don't see any reason why it would go down after 40 years of going up.
[QUOTE=PvtCupcakes;20921162]I'd say OP is right about gold prices going up. Since 1971 when the gold standard was abolished in the US, the price of gold has done nothing but go up. I don't see any reason why it would go down after 40 years of going up.[/QUOTE]
This for SURE. After we stopped using gold as a standard for the value of the dollar and started going on crazy spending sprees the value of the dollar dropped dramatically. That in turn has caused a consistent increase in cost of gold.
Anyone who didn't already know this is :holy:
[QUOTE=Aman V;20919785]If Iran decides to launch a nuclear warhead and it lands on Israel, oil will soar. If this happens millionares, even billionares will be made overnight. You can make money investing now for the long run.[/QUOTE]
Though you might have to cope with that little issue called World War 3 and Mutually Assured Destruction...
gold has no intrinsic value
[QUOTE=Pvt. Ryan;20921310]gold has no intrinsic value[/QUOTE]
Yes but it's cost is associated with whatever currency is primarily used to purchase it. Its not gold's value that is going up, its the dollars value going down.
ITT: People who don't realize that the price is filled with the expectations of the future value.
[QUOTE=sloppy_joes;20919854]They'll probably just make electric cars.
Also, you can synthesize gasoline, it's not cheap, but it can be done.[/QUOTE]
It's also incredibly impractical when you can just tap the ground and get some precious black gold.
[QUOTE=Pvt. Ryan;20921310]gold has no intrinsic value[/QUOTE]
I'll trade you five loaves for a hen.
Gold is not wise to invest in right now. I wouldn't buy commodities of anything right now. Just stick with low risk trades, make investments into pharms if you want, but please don't take this advice.
And how do I go about investing in metals and oil? Where do I go to get this done?
Gold is surprisingly expensive at the moment.
[QUOTE=angrykid8;20922849]Gold is surprisingly expensive at the moment.[/QUOTE]
No shit. It's gold.
I'd reccomend spending that money doing something usefull like learning how to garden and sustain yourself. If the economy is gonna crash like you said it wont matter how many shiny things you have (try to make a decent meal out of gold or oil)
[QUOTE=FacepunchZen;20922979] (try to make a decent meal out of gold or oil)[/QUOTE]
Why make if you can buy. And true, gold is quite volatile. It has been useful at trading only for the past 3000 years.
No put your money in VIDEO GAMES they can only go up from here
[QUOTE=FacepunchZen;20922979]I'd reccomend spending that money doing something usefull like learning how to garden and sustain yourself. If the economy is gonna crash like you said it wont matter how many shiny things you have (try to make a decent meal out of gold or oil)[/QUOTE]
...what.
I'm not talking fallout 3 post apocolypto here
[QUOTE=FacepunchZen;20922979]I'd reccomend spending that money doing something usefull like learning how to garden and sustain yourself.[/QUOTE]
Most definitely, but what you're not looking at is the big picture: when the economic shit hits the fan, and it will, almost instantly a barter economy will quickly replace it. Once the dollar is worth less than the paper you use to wipe your ass with then people will quickly look for an alternative source of viable resources to barter with. At that time gold will likely be your best option.
Why is gold so important? Because its shiny and pretty? Are we all magpies? I can never understand why people place so much value on something so inherently useless.
[QUOTE=ShukaidoX;20923228]Most definitely, but what you're not looking at is the big picture: when the economic shit hits the fan, and it will, almost instantly a barter economy will quickly replace it. Once the dollar is worth less than the paper you use to wipe your ass with then people will quickly look for an alternative source of viable resources to barter with. At that time gold will likely be your best option.[/QUOTE]
If the shit does hit the fan then how will you be able to feed yourself? America cannot sustain its current population without importing most of its food. What happens when the economy collapses and we cant afford that food?
[QUOTE=Manta Ray;20923336]Why is gold so important? Because its shiny and pretty? Are we all magpies? I can never understand why people place so much value on something so inherently useless.[/QUOTE]
Yeah I don't know why but thats the way it is I suppose. Gotta play the game.
I Guess cause its rare to find and scarce
[QUOTE=Manta Ray;20923336]Why is gold so important?[/QUOTE]
its generally accepted around the world as a form of universal currency, that is to say, no matter where you go in the world, someone will most likely be willing to pay good money for it...
[QUOTE=Aman V;20923360]Yeah I don't know why but thats the way it is I suppose. Gotta play the game.
I Guess cause its rare to find and scarce[/QUOTE]
Its only useful purpose is as a conductor.
[QUOTE=FacepunchZen;20923344]America cannot sustain its current population without importing most of its food. What happens when the economy collapses and we cant afford that food?[/QUOTE]
Very true, and you are right. America is filled with supermarkets which have their food delivered via giant freezer trucks. Once the market crashes the gears that make our society function will grind to a halt. Commodities we easily take for granted like food, medicine, and power will become difficult to obtain to say the least.
mah automerge D:
[QUOTE=ShukaidoX;20923529]Very true, and you are right. America is filled with supermarkets
[/QUOTE]
48 hrs to clear out a supermarket in a time of panic.
Told my parents to invest in Spyker because of the supposed deal to buy Saab. They refused. 2 days later the stocks rose with 60% and got shut down :v:
[QUOTE=FacepunchZen;20923590]48 hrs to clear out a supermarket in a time of panic.[/QUOTE]
I'd say thats a pretty accurate estimate. Once people can't get their fast food and all the supermarkets are completely barren we'll likely begin to see hunger riots.
[QUOTE=Pvt. Ryan;20921310]gold has no intrinsic value[/QUOTE]
Okay? And dollar bills do?
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