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#1 May 05 2011 at 9:44 AM Rating: Sub-Default
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http://www.cnbc.com/id/42909399

Will it go to 2k an ounce? That's what i'm waiting for to sell.

#2 May 05 2011 at 9:56 AM Rating: Good
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Very unpatriotic of you, to throw away the $US and back the same thing China is backing.
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#3 May 05 2011 at 9:58 AM Rating: Good
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Pretty sure it was already a well established fact that varus hates America, and all things American.
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#4 May 05 2011 at 10:00 AM Rating: Good
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I just like reminding him how much he stands against the country in which he claims hes all for.
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#5 May 05 2011 at 10:09 AM Rating: Good
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Considering his goldfish-like memory, you're much nobler than I am when undergoing that kind of monumental task.
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#6 May 05 2011 at 10:19 AM Rating: Good
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I'm going to laugh if the bubble pops before he reaches his sell point.
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#7varusword75, Posted: May 05 2011 at 10:23 AM, Rating: Sub-Default, (Expand Post) Sweety,
#8 May 05 2011 at 10:25 AM Rating: Excellent
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Hope you make some money Varus. Everything is a gamble, and if it works out for you, that's great.

You can use the money to pay Joph his $50 when Obama wins in 2012.
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#9 May 05 2011 at 10:49 AM Rating: Good
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varusword75 wrote:
Very unpatriotic of you liberals that have put someone in the whitehouse that has made this possible.
I didn't pout anyone in the White House. I put a conservative in Sussex Drive though.
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#10 May 05 2011 at 10:59 AM Rating: Good
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I've got a hand full of American Gold Eagles that I have accumulated over the last 20 years or so (I haven't added to the collection in the last 5 years). I won't be getting rid of them any time soon, but they'd have to find a gold deposit the size of Texas for me to lose any money on them.
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#11varusword75, Posted: May 05 2011 at 11:20 AM, Rating: Sub-Default, (Expand Post) Moe,
#12 May 05 2011 at 11:30 AM Rating: Good
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varusword75 wrote:
Then you've lost out.

Not really. I didn't buy them to make money on them.
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#13 May 05 2011 at 12:22 PM Rating: Good
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varusword75 wrote:
Then you've lost out.
Buy high, sell higher? Man if you think that's a good idea, I've got some houses you can invest in.
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#14 May 05 2011 at 1:09 PM Rating: Default
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Considering that our money is really worthless and has nothing to back it these days?
Investing in gold is never a bad idea. I'd rather be paid in gold than paper money any day.
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#15 May 05 2011 at 1:11 PM Rating: Excellent
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Tailmon wrote:
Considering that our money is really worthless and has nothing to back it these days?
Investing in gold is never a bad idea. I'd rather be paid in gold than paper money any day.


It's difficult to buy groceries or pay your bills that way, though...
#16 May 05 2011 at 1:22 PM Rating: Excellent
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Tailmon wrote:
Considering that our money is really worthless and has nothing to back it these days?
Investing in gold is never a bad idea. I'd rather be paid in gold than paper money any day.
Currently, gold is about $1500 per troy ounce. Globally, around 2000 tons of gold are produced a year. This would be 64,301,493 troy ounces.

1,500*64,301,493 = $96,452,239,500.

Right now, US GDP growth is at about 1.8%. The 2010 US GDP was 14.72 trillion. 1 percent of that is 147 billion.

Even with a growth rate at a record low, and gold at a record high, the global output of gold still wouldn't match the growth of our economy. So, to make it work, we'd have to set the value of gold ourselves rather than go by its intrinsic value.

Welcome to fiat currency.

edit: **** long division

Edited, May 5th 2011 2:27pm by Sweetums
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#17 May 05 2011 at 1:25 PM Rating: Excellent
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Sweetums wrote:
Tailmon wrote:
Considering that our money is really worthless and has nothing to back it these days?
Investing in gold is never a bad idea. I'd rather be paid in gold than paper money any day.
Currently, gold is about $1500 per troy ounce. Globally, around 2000 tons of gold are produced a year. This would be 64,301,493 troy ounces.

1,500*64,301,493 = $96,452,239,500.

Right now, US GDP growth is at about 1.8%. The 2010 US GDP was 14.72 trillion. 1 percent of that is 147 billion.

Even with a growth rate at a record low, and gold at a record high, the global output of gold still wouldn't match the growth of our economy. So, to make it work, we'd have to set the value of gold ourselves rather than go by its intrinsic value.

Welcome to fiat currency.


Thanks for making me look stupid, Sweetums. Compared to this post, mine was the equivilant of "Uhhh, durrrrrrr." /drool. >:(

<3 how smart Sweetums is...

Edited, May 5th 2011 3:26pm by Belkira
#18 May 05 2011 at 1:29 PM Rating: Good
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At least fix my misplaced decimal :(

Thank you <3

Edited, May 5th 2011 4:47pm by Sweetums
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#19varusword75, Posted: May 05 2011 at 1:33 PM, Rating: Sub-Default, (Expand Post) phil,
#20 May 05 2011 at 1:34 PM Rating: Default
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I often wonder how my old college roommate is doing these days. He always bought gold and had quite a
stash of it back when it was rather inexpensive. He also wanted to have something that always would
be worth something if our monetary system crashed.
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#21 May 05 2011 at 1:39 PM Rating: Excellent
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Tailmon wrote:
He also wanted to have something that always would be worth something if our monetary system crashed.
Did he consider working on getting a skill set?
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#22 May 05 2011 at 1:49 PM Rating: Excellent
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Uglysasquatch wrote:
Tailmon wrote:
He also wanted to have something that always would be worth something if our monetary system crashed.
Did he consider working on getting a skill set?

That was my exact though, haha!
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#23 May 05 2011 at 3:43 PM Rating: Good
Edited by bsphil
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Tailmon wrote:
Considering that our money is really worthless and has nothing to back it these days?
Investing in gold is never a bad idea. I'd rather be paid in gold than paper money any day.
Aside from the worthless part. There are a wealth of reasons as to why we've created a system of currency though. Bartering sucks.

varusword75 wrote:
phil,

Quote:
Buy high, sell higher?


http://www.the-privateer.com/chart/gold-pf.html

You're just p*ssed because you didn't buy gold when I suggested it over 5yrs ago.
No, we invested in it around 2000 when it was under $300/ounce, lol.




Edited, May 5th 2011 4:44pm by bsphil
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#24 May 05 2011 at 3:47 PM Rating: Good
varusword75 wrote:
Sweety,

Quote:
I'm going to laugh if the bubble pops before he reaches his sell point.


Luckily as long as Obama's in the whitehouse that's not something i'm going to have to worry about considering he's doing everything in his power to kill the dollar.

If Obama's loses his re-election bid i'll sell the next day.



Ugly,

Quote:
Very unpatriotic of you


Very unpatriotic of you liberals that have put someone in the whitehouse that has made this possible.



varusword75 wrote:
phil,

Quote:
Buy high, sell higher?


http://www.the-privateer.com/chart/gold-pf.html


You're just p*ssed because you didn't buy gold when I suggested it over 5yrs ago.

So people should have bought gold when Bush was in office, when the dollar first stated getting weaker? Oh, I always forget, the downturn that started under Bush is all Obama's fault.
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Edited, Mar 21st 2011 2:14pm by Darqflame Lock Thread: Because Lubriderm is silly... ~ de geso

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#25 May 05 2011 at 3:53 PM Rating: Good
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Lubriderm the Braindead wrote:
Oh, I always forget, the downturn that started under Bush is all Obama's fault.


No, no. That one was Clinton's fault. Smiley: tongue
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#26 May 05 2011 at 3:58 PM Rating: Good
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Lubriderm the Braindead wrote:
Oh, I always forget, the downturn that started under Bush is all Obama's fault.


No, no. That one was Clinton's fault. Smiley: tongue
You forgot Carter.
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Edited, Mar 21st 2011 2:14pm by Darqflame Lock Thread: Because Lubriderm is silly... ~ de geso

Almalieque wrote:
I know what a glory hole is, but I wasn't sure what the business part was in reference to.

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#27 May 05 2011 at 4:18 PM Rating: Excellent
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I actually roll my eyes at Goldline and all the other companies that sell marked up gold coins. If you're going to invest in gold, invest in the purified, undecorated, unmarked up stuff sold for scientific research.

If you really want to invest in the future for the zombie apocalypse though, take that $48,000 and build yourself an underground bunker with lots of seeds, toilet paper, and iodine tablets.
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#28 May 05 2011 at 4:30 PM Rating: Good
catwho wrote:
I actually roll my eyes at Goldline and all the other companies that sell marked up gold coins. If you're going to invest in gold, invest in the purified, undecorated, unmarked up stuff sold for scientific research.

If you really want to invest in the future for the zombie apocalypse though, take that $48,000 and build yourself an underground bunker with lots of seeds, toilet paper, and iodine tablets.
Or just put that money into a 401k or an IRA like normal people.
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Edited, Mar 21st 2011 2:14pm by Darqflame Lock Thread: Because Lubriderm is silly... ~ de geso

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I know what a glory hole is, but I wasn't sure what the business part was in reference to.

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#29 May 05 2011 at 6:53 PM Rating: Default
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Uglysasquatch wrote:
Tailmon wrote:
He also wanted to have something that always would be worth something if our monetary system crashed.
Did he consider working on getting a skill set?


I'd have to say that his skill set is light-years beyond most of the forums posters.
Old Bob was perhaps the most rounded person I've ever known. He was the Math tutor at collage his second year there. He could fix cars and had common sense that most Genius people lack. He wrote most of the programs for the space shuttle along with other things he did after he graduated from College. Sitting on gold is a smart thing to do.
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#30 May 05 2011 at 7:16 PM Rating: Good
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If you sit on it much longer at this point you won't really come out ahead. The most prudent decision would be to sell it soon for a guaranteed return and then buy it back after the inevitable crash :)

Edited, May 5th 2011 8:18pm by Sweetums
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#31 May 05 2011 at 7:33 PM Rating: Good
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Tailmon wrote:
Sitting on gold is a smart thing to do.
Based on what? That the dollar will crash and cease to exist? Or just that its value is going up while morons speculate that the dollar will crash? If its based on value, there are better investments. If its based on the dollar crashing, that's ridiculous, as putting any value in gold at that point is, as Sweetums has already pointed out, just placing another artificial value on something. The mechanic skills of your friend, is a tradeable asset should our current form of currency fail.
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#32 May 05 2011 at 8:24 PM Rating: Good
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Actually, if the dollar crashes and/or the zombie robot apocalypse occurs, the most valuable skill sets are going to be farming and basket weaving.
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#33 May 05 2011 at 9:28 PM Rating: Excellent
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I heard on my way home tonight that the value of gold went down today. I had a good laugh.
#34Tailmon, Posted: May 05 2011 at 10:10 PM, Rating: Sub-Default, (Expand Post) I actually had thought you were a bit smarter. Throughout Man's civilized exixtance what has always held value?
#35 May 05 2011 at 10:15 PM Rating: Excellent
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Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
Vagina?

Edited, May 6th 2011 12:15am by lolgaxe
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#36 May 05 2011 at 10:33 PM Rating: Default
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That wears out over time. Gold outlasts that.
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#37 May 05 2011 at 10:44 PM Rating: Excellent
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Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
An education.

Edited, May 5th 2011 11:44pm by AshOnMyTomatoes
#38 May 05 2011 at 10:58 PM Rating: Excellent
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Tailmon wrote:
Uglysasquatch wrote:
Tailmon wrote:
Sitting on gold is a smart thing to do.
Based on what? That the dollar will crash and cease to exist? Or just that its value is going up while morons speculate that the dollar will crash? If its based on value, there are better investments. If its based on the dollar crashing, that's ridiculous, as putting any value in gold at that point is, as Sweetums has already pointed out, just placing another artificial value on something. The mechanic skills of your friend, is a tradeable asset should our current form of currency fail.



I actually had thought you were a bit smarter. Throughout Man's civilized exixtance what has always held value?
Our country used to back our currency with it. Then moved to Silver before backing our money with ???? a Gurantee?
You really don't understand math, do you?

What has always held value? I'd say clean water. Humans may like beautiful things, but try trading your gold for food when your neighbor is starving.

Or actually upon second thought, salt. That **** was offered up to pharaohs. You could trade it for nearly anything, even slaves. People fought wars over salt. It's only in modern times that it's become so widely available.

Edited, May 6th 2011 4:17am by Sweetums
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#39 May 06 2011 at 5:34 AM Rating: Good
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Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
Natural resources.


Also what Sweetums said.
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#40 May 06 2011 at 6:13 AM Rating: Excellent
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Nilatai wrote:
Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
Natural resources.Land
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#41 May 06 2011 at 6:22 AM Rating: Good
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Uglysasquatch wrote:
Nilatai wrote:
Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
Natural resources.Land
Touché.
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#42 May 06 2011 at 8:44 AM Rating: Excellent
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In other news, other commodities like silver and oil continue to drop. If there is a gold bubble, I'd wager it'll burst soon. Sell now, Varus - dig up the chest in the backyard!
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#43varusword75, Posted: May 09 2011 at 1:17 PM, Rating: Sub-Default, (Expand Post) Sweety,
#44 May 09 2011 at 1:20 PM Rating: Excellent
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varusword75 wrote:
Some of us are gambling
Which, too, is a sin.

I love Christians.
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#45varusword75, Posted: May 09 2011 at 3:07 PM, Rating: Sub-Default, (Expand Post) lolgax,
#46 May 09 2011 at 3:14 PM Rating: Excellent
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Didn't quote the part with stock market for a reason. Not surprised a sinner hiding behind the guise of holiness would try to disguise their evil. Which, is another sin. Smiley: grin
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#47 May 09 2011 at 3:17 PM Rating: Good
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varusword75 wrote:
lolgax,

Quote:
Which, too, is a sin.




http://www.gotquestions.org/Christian-stock-market.html



I'm not surprised you didn't take the time to do even the most basic of searches to find out whether or not christians can invest in the market.



I'm not surprised you didn't read what you linked, since you admitted that you just post **** anyway.

Quote:
Anything that requires "luck" above wise decision-making and long-term planning should be avoided.


Also, I like how this part:

Quote:
Second Corinthians 9:6 says “Remember this: whoever sows sparingly will reap sparingly, and whoever sows generously will reap generously.” The context is actually speaking about investing in our relationship with God, but it demonstrates how one must often sacrifice now to gain in the future.


ROFLROFLROFL.
#48 May 09 2011 at 8:20 PM Rating: Decent
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Nilatai wrote:
Uglysasquatch wrote:
Nilatai wrote:
Tailmon wrote:
Throughout Man's civilized exixtance what has always held value?
Natural resources.Land
Touché.


Lol! I was going to comment on this as well, so I'm glad others did.

Study the fall of the Spanish Empire during the colonial era. They learned the hard hard lesson that economic value isn't about gold, but about land/resources and what you make/utilize out of it.
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#49 May 10 2011 at 6:51 AM Rating: Excellent
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catwho wrote:
Actually, if the dollar crashes and/or When the zombie robot apocalypse occurs, the most valuable skill sets are going to be farming and basket weaving running and operating a chainsaw/wielding a shotgun.


FTFY, cause Zombies hate chainsaws and shotguns.
i learned that playing vidya games
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#50varusword75, Posted: May 10 2011 at 12:36 PM, Rating: Sub-Default, (Expand Post) guenny,
#51 May 10 2011 at 12:58 PM Rating: Good
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I am just the kind of old schooler who thinks that the Bible has nothing to say about the stock market.
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