Did you ever get in on the Gold when it was at around $1600? Seems like the ads for gold are prevelant in the media, so I assume there is a market for it.
actually most of my gold was purchased way back between 2002 and 2006 when gold was still around 400 to a high of 900......I then stopped and started again in late 2008 when gold fell back to 700. But since it went above 1200 I think I only bought 1 or 2 ounces.....my average cost is probably around 600 I would think ( more or less)
Gold Bubble Seen by Soros on Brink of Bear Market http://www.bloomberg.com/video/83477288/ And Soros's old 'partner-in-crime' Jim Rogers is also bearish on gold for the time being....but he says he has not sold any of his gold and will buy it again if it drops much more. Personally, if Soros is out just for the time being...then I think he is doing the smart thing. But if he is out for good? Then I think he is wrong based on my limited knowledge.
You mean after all these scores of posts you've written in the last year or two about how great an investment gold is and the currency crises and how gold and silver have nowhere to go but up because of Fed policies, for you own investment you've only bought "1 or 2 ounces"? Amazing how you make these disclosures about your own person behavior only after things don't work out quite like you've assured everyone else. Kind of like it was only after silver fell 30-40% that you disclosed you had hedged on your investment investment in silver.
IMO, that is a little out-of-line. Maybe that is all the spare coin he had to spend on it. $3,500 is not chump change...well maybe for you it is. It does not matter how much someone spends...it matters how much of their disposable income they spend. And until you are personally aware of bacardi's personal income (which is none of our business) you cannot know what % of his assets he has in gold/silver.
Fair point. Though he was talking about buying a Ferrari if the price kept going up so I assumed he had more than a few thousand invested.
Fair enough (assuming he typed that)...but maybe he was referring to his initial investment way back when. If he had put 20K in silver back at $5 and it went to $80 some day then he could get a Ferrari. All I know is I do not have lots of reserves of cash that I can invest if I think gold/silver hits bottom...as I assume most people do not also. All I have is in my portfolio...sure, I could get a line-of-credit or buy gold/silver stocks on margin. But even gold 'bugs' like Peter Schiff are against that....too risky. And I don't feel comfortable enough about shorts to use them.
You should know me well enough by now that I just don't make (*)(*)(*)(*) up. I'd be hesitant to buy any investment that has appreciated 5-6x in just a few years, but who knows?
I assumed you had not made it up. But I did not recall seeing the passage, so I could only assume it existed...I could not know. And I take NO ONE'S word as verbatim on chat forums about anything.
Soros is wrong and he knows it. He is just trying to get people to sell so he can buy on the cheap! I really dont trust Soros!
1) most of my recent purchases was in silver but yes a few ounces of gold. 2) gold will still go much higher over the years but after such a large increase in the past 10 years I am surprised it doesn't make a bigger correctiom. Maybe it will and maybe it wont but I already have lots of gold so to add to it at these prices makes no sence......mind you it will still double eventually, I just dont know when!
when the currency crisis hits I am willing to bet I can buy a ferrari....where in my post does it say I will buy a ferrari tommorow?
exactly.......like I have said my average price is around 600 I think.....I bought gold even cheaper than that but I also bought some over 1200 so this is why my average price is higher. PS never mind eriemon.....he has sour grapes for still being in soon to be worthless paper assets
Come on doubters . The Spain , Italy debacles are just days away -- 6 weeks maximum --- then things will blow the roof away . I made one of my luckiest plays over the month of December , or so I think . My future is locked into Silver --- when it hits $60 I will be nearly two million ahead and will get out , regardless of where it goes after that . But I took an inverse position over Gold and sold at bottom -- inspired good fortune . That was good enough , but I threw the lot back in within three minutes , including a big profit , into Silver at just under $ 27.00 . $40 by end January/ mid Feb ?? Ride 'em Cowboy .
Sure does . It's partly embarrassing to profit at other people's woes and it is being reported that there are more beggars in Spanish City centres than tourists right now . That may be somewhat melodramatic but it is symptomatic . Just imagine --- over 20% unemployed , which is even more than the unofficial true US figure . There has been some coverage of the unfolding and continued mess in Hungary lately . But little or nothing is heard of the financial carnage in the Baltic States. And it's little snow balls that grow into huge ones as the debt storm intensifies .
what makes me laugh about Spain is that even with such high unemployment they are still approving people to stay in the country that are still there on work visas.....I read that they are now trying to buy back citizenship,,,,,like as i anybody is going to take them up on the offer LOL!
Gold is juuuuust shy of $1650 right now ($1649.71. Up $10.11 today) This is the highest it has been since mid-December. http://www.goldprice.org/gold-price-history.html
