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tryummm
774 Posts
I'm in NO WAY an expert. You can call Midas Resources and get free advice. (http://www.midasresources.com/store/store.php?ref=63&promo=specialOffer) But I have seen some bad reviews online from them, so I would get a second opinion before buying from them. Or get advice from them and go with another company. They do gold and silver. | ||
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psheldr
Germany32 Posts
Long term it could be good if they don't find a way to create gold, which I suppose is a possibility? Your wording is a bit strange since we do know how to make gold - for example it appears as a byproduct of nuclear fission, and there are other theoretical ways - but in all methods found to date the cost of energy (or uranium or whatever) is larger than the value of the gold by a few orders of magnitude. However another possibility for the price of gold to drop is ofc if people decide they don't want to buy gold anymore because they don't need it. Or major advances in mining drastically increase our total gold extraction. Or we start mining in space?... Reputation isn't everything. To defend my Buffett quote i will say that i don't care much about his reputation. I don't care if he invested in silver, gold or whatever or is planning to. I was just attracted by the simplicity and truth of the quote. In 2009 Buffett said "it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that." which is the same in different words and equally true. | ||
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mangomango
United States265 Posts
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Shaok
297 Posts
On December 12 2010 13:39 WAAA wrote: I like how the graph doesnt deal in real dollars... my advice is if you have to ask a gaming forum do not invest in anything. Because only retards post on gaming forums right? Jesus that is one of the dumbest things I've heard. Merry Xmas. | ||
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Almin
United States583 Posts
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gulati
United States2241 Posts
On December 26 2010 09:55 Gofarman wrote: ^This is propaganda garbage that has been fed to the green loving left wing for the last 10 years and has VERY little basis in what we call science. Oil is finite, don't get me wrong. For the "algorithms" to correctly identify the amount of oil that is economically feasible to retrieve either we would have to understand the development of the Earth (for the last billion or 10k years whatever your slant is) which we have very little understanding of. I was thinking that the propaganda would be nullified a bit after the gulf oil spill (which they CLEARLY had NO IDEA how much oil was down there, and still don't) but people continue to believe what they are told by supposed experts on Ellen and Oprah. Don't forget about the huge Oil deposits that are being exposed courtesy of the receding ice caps Greenland ftw. Anyways back on to the topic of the thread; I ended up putting all my savings into Gold back when it dropped back below 1k/ounce the second time, got most of it at about 720 which was good even though it continued to fall to around 650 at that point. I have almost made back my stock exchange losses and plan to get out of speculation all together when I break even and just invest in dividends. As for investing in Gold NOW I wouldn't recommend it honestly the price is likely to increase to around 1700 and then do a dive as people sell off for profit, IF I was in the market to buy I would buy at around 1100 and look to unload at around 2k, although if this is a retirement fund buy whenever, you will make at least 100% return in 25 years. Lol? So now oil consumption rates is political, and Oprah Winfrey is somehow tied into this? You speak garbage. Read this textbook: Daly & Farley, Ecological Economics. You will realize what you are saying is... dumb. There is a way to calculate oil consumption and depletion. The textbook definition, in laimens terms, states that the amount of energy required to withdraw one barrel of oil must cost less than the price from discovery, drilling, processing, shipping, and selling of that oil. We are reaching the equilibrium line in which the cost of that process is slowly going to exceed the cost of discovery, drilling, etc., meaning that we will "run out" of oil. Do not take that literally as the world will have "no more oil". That is impossible. Oil is carbon- we are carbon- there will always be oil, no matter what. It is just a matter of the speed and efficiency of drilling for oil- it will cost more to get the oil than we can sell it for, at a marketable price. That, my friend, is fact. P.S. Sorry to digress from OP- I agree with TL moderators in saying that I am a no-namer and should not give financial advice- but if I had to deliver financial advice, it would say to buy gold. All I can say. If you want me to cite technical analysis and retracement levels to support my reasoning, I will be more than happy to. Just ask. | ||
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Adila
United States874 Posts
The way I see it, if the world economy collapses and shit hits the fan, what a piece of paper says you own in gold is meaningless. | ||
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chadfcjsp
United States21 Posts
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dybydx
Canada1764 Posts
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Deja Thoris
South Africa646 Posts
Generally gold is a kind of safe haven for when people don't trust the stock market or interest rates are low. As such it is subject to the whims of the world market forces. As a commodity it has little practical use (jewelery, coatings on electronics etc) A caution if you do decide to invest, theres a difference between buying gold and buying shares in a gold company (well duh!) Just be very sure you end up buying what you think you are buying. Despite the high gold price many gold companies are very unprofitable atm. Reserves are hard to get to and therefore expensive to extract, the biggest producers pay suppliers in local currency but sell in $ and dollars are very very weak at the moment meaning the gold companies have crap revenue. Finally, would you really trust help with a financial decision to people on an internet gaming forum? (If so, I wouldn't buy gold!) | ||
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Deja Thoris
South Africa646 Posts
On December 26 2010 07:43 gulati wrote: Water costs more than Oil, actually. Calculate the price of Purified Drinking water (Poland Spring), versus a barrel of Crude Oil. What the hell dude? A barrel of oil is 159 litres and costs in the region of $30-40 to produce. Thats 25c per litre. You can't compare the price of bottled water to crude oil. In most countries in the world water costs fuck all to "produce" because nature does it for us. All we have to do is clean it up and economies of scale make that cheap (about $40 per MILLION litres). Just because Nestle puts it in a fancy bottle and markets it well enough so that some pretentious wanker buys it at exhorbitant prices doesn't mean it "costs more than crude oil" And to whoever said oil algorithms prove that oil will be up in 30 years is just as clueless. I work in the oil industry and the life expectancy of wells is both closely guarded and hotly debated. Everyone has an opinion on it and they all contradict one another. It's also possible to make oil from natural gas (pretty abundant), shale (currently expensive) and coal (bad carbon footprint) All of these alternatives may become more attractive as traditional crude supplies dwindle - assuming we don't find some cool new fairy dust that supplies us with cheap, clean energy. | ||
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RonaldRayGun
United States200 Posts
![[image loading]](http://4.bp.blogspot.com/_C4tvBE4qcJE/Rksh4Rm9-kI/AAAAAAAAAFI/8EIxQlNME84/s320/1929-crash.gif) Observe this graph. In its first phase, it mirrors your gold graph. In its second, it plummets. It is the stock market graph for the US in 1929. Enjoy your flecks of metal. I'd invest in... Useful things that you can flip for decent change when another thing outmodes it, such as computers. | ||
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Dreaming11
United Kingdom105 Posts
As someone who has spent their degree studying financial markets, I would say (and this is perhaps boring) the best approach for someone intending to regularly invest for a long term return but isn't a specialist is just to get a bog-standard diversified portfolio or invest in a managed fund to do it for you. If it was an academic essay, I'd suggest Barclays iShares or something as a good bet because over the long term the management / administration cost really nips your profits in the bud - iShares are managed by a computer not a person so the expense ratio is very low. The reasoning is, if you put all your eggs in one basket, it can go wrong. Managed funds are bound by law to -not- put all their eggs in one basket. Diversifying yourself means you can stay one step ahead of the game, because you get decent long term average returns but also get less variability in your portfolio value. Of course with the usual I'm not an IFA just a guy on the internet and if you follow my advice and lose all your money its your fault, investing always carries a risk of losing your money. But that risk is higher if you invest in one thing alone (even gold!). | ||
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Ghad
Norway2551 Posts
On December 26 2010 11:13 gulati wrote: Do not take that literally as the world will have "no more oil". That is impossible. Oil is carbon- we are carbon- there will always be oil, no matter what. It is just a matter of the speed and efficiency of drilling for oil- it will cost more to get the oil than we can sell it for, at a marketable price. That, my friend, is fact. Very well put. People need to read that sentence many times to really get their head around which consequences will come from it. | ||
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mads
Canada90 Posts
On December 26 2010 11:13 gulati wrote: Lol? So now oil consumption rates is political, and Oprah Winfrey is somehow tied into this? You speak garbage. Read this textbook: Daly & Farley, Ecological Economics. You will realize what you are saying is... dumb. There is a way to calculate oil consumption and depletion. The textbook definition, in laimens terms, states that the amount of energy required to withdraw one barrel of oil must cost less than the price from discovery, drilling, processing, shipping, and selling of that oil. We are reaching the equilibrium line in which the cost of that process is slowly going to exceed the cost of discovery, drilling, etc., meaning that we will "run out" of oil. Do not take that literally as the world will have "no more oil". That is impossible. Oil is carbon- we are carbon- there will always be oil, no matter what. It is just a matter of the speed and efficiency of drilling for oil- it will cost more to get the oil than we can sell it for, at a marketable price. That, my friend, is fact. P.S. Sorry to digress from OP- I agree with TL moderators in saying that I am a no-namer and should not give financial advice- but if I had to deliver financial advice, it would say to buy gold. All I can say. If you want me to cite technical analysis and retracement levels to support my reasoning, I will be more than happy to. Just ask. As a former econ major, and current finance major........My advice is to absolutely never take advice from a guy who says he's a no-namer and should not give financial advice. Even if he can 'cite technical analysis and retracement levels'. If you recognize that you're not qualified...then what the heck?! | ||
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ghermination
United States2851 Posts
On December 12 2010 14:31 reg wrote: It wasn't a bubble. Reagan was in office when gold began its steady decline. You'll notice gold stocks decrease when the dollar increases or vice versa (and it does so relatively smoothly). It just means good fiscal and monetary policy was present during the Reagan administration that isn't present now. The same economic policy that bent america's economy over and did dirty things to it was "good"? Yay for class disparity! You're forgetting the oil crisis, which came with a recession just like our current one and caused people to speculate on gold. The large amount of buying led to an inflated price, ie bubble, and then when the price fluctuated naturally and didn't go up, people dumped all their gold because they thought the price was going to do down, bringing the price down. The same thing is happening currently imo. There will be a large fall in gold prices shortly. I don't need to be an economics major or what have you to be able to see that. | ||
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Dreaming11
United Kingdom105 Posts
On December 27 2010 05:19 mads wrote: If you recognize that you're not qualified...then what the heck?! This may be due to the fact that under most law to give financial advice you have to hold something equivalent to a CFA, as then you are bound only to give fair and impartial advice and if you don't you are liable for the amount of any money lost. In theory if someone on the internet follows your instructions and you don't put a disclaimer, and they lose their money, then they could have a crack at suing you because they were following your instructions. I don't know if the case would get thrown out or what (because of common sense lol)... but its like someone with no medical training trying to give someone medical advice or help. Having said that, it doesn't take a genius to see that taking your life savings and putting it on junk bonds is a bad idea :p so there's room for people to give sensible advice / signposting as long as it's clear that people should not be making investment decisions based on what people on the internet say. | ||
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merach
United States182 Posts
Looking back at the graph, gold has only really had a good return on investment over the last 7 or so years. Compare this to something else, like some growth stock mutual funds, gold barely beats inflation, while good mutual funds make 10%+ pretty consistently. It's pretty safe to say anyone that recommends buying gold near it's peak is a shill. | ||
TanGeng
Sanya12364 Posts
On December 27 2010 05:42 merach wrote: Looking at the chart on page 1, gold spends a really long time hovering around $400, and so in my opinion, gold at today's rates would be a god awful investment. However, it seems that if you can hold onto the metal for 20-30 years, buying somewhere under $800 would probably yield really high returns. However, the prices today are definitely artificially inflated. In the real world, if an economy collapses, gold is worth nothing, much like it was during hurricane Katrina. Looking back at the graph, gold has only really had a good return on investment over the last 7 or so years. Compare this to something else, like some growth stock mutual funds, gold barely beats inflation, while good mutual funds make 10%+ pretty consistently. It's pretty safe to say anyone that recommends buying gold near it's peak is a shill. A lovely post. Technical judgment without proper technical analysis. Fundamental judgment without mention of any fundamentals. Crystal-ball clairvoyance of a market top in gold. Strange mention of Hurricane Katrina with the shallowest analysis possible. For those with money to invest, don't be lazy and do your own market research. | ||
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Barca
United States418 Posts
This is what happened with the housing market bubble in pre-2009. Housing prices shot up so people thought it was a good idea to invest - silly people. | ||
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