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Closed AccountNov 21, 2010
Gold is not an investment, it's a store of wealth. When inflation is high you buy gold to keep from losing money.
Only idiots buy gold trying to MAKE money.
ScienceTrumpsReligionNov 21, 2010
only the real idiots buy gold when its at record high prices and in an obvious bubble
unless they are partaking in some insider trading, then they are just worthless pieces of s**t
awer25Nov 21, 2010
Anything that you buy with the hopes of selling for a profit is an investment - gold included. Additionally, investing in a publicly traded gold fund has shown to be a great long-term investment. Just look at the 5-yr chart for GLD (NYSE).
http://www.google.com/finance?client=ob&q=NYSE:GLD
ScienceTrumpsReligionNov 21, 2010
are you another one of them people who thinks that gold prices wont be going down?
unless you know when to sell, once the bubble bursts, the price will tank quickly
gold does not keep going up regardless of what your friends at fox tell youComment is buried, click here to see the rest.
awer25Nov 21, 2010
Your comment, while true, applies to ANY investment - real estate, commodities, Google, etc. Any investment can quickly lose value, so why complain about gold?
mikeahensonNov 21, 2010
Dave Ramsey doesn't think so!
marko777Nov 21, 2010
if you buy $10,000 worth of gold today and sell it tomorrow for $10,005, hasn't this action MADE you $5 extra money?
People who think they are smarter than everyone else are idiots.
hillsfarNov 22, 2010
No, because there's a commission to sell. Now, granted, if there were no commission to pay, then you made a handsome profit of $5. Then the real question is, did the Fed just print enough money on that day to offset the 0.05% gain you just made by inflation?
marko777Nov 22, 2010
A more appropriate question would be "have the consumer prices changed after the fed printed more funds that day (if they printed it at all)". If not, you just made money (after all commissions and taxes.)
patipan42Nov 21, 2010
use material minimize,reuse,reduce,recicle.work it.and you ?
chrisvazquez1Nov 21, 2010
Wait, I'm no economist, but is it really smart to invest in something when prices are at an all time high? Isn't the point of investing to invest when prices are low? Someone smart would invest in real estate because prices are low. What I do understand however is that gold has a very steady inflation rate and that makes it a great device to store wealth. Eventually you can make a profit because gold prices do rise, but that takes at least two decades. By then who cares?
What I do see happening is that gold prices will eventually start to drop. There are no real useful applications for gold except as a sign of wealth and jewelery. In modern society gold isn't useful anymore because of fiat money. I foresee gold prices eventually dropping when it stops being a commodity.
hillsfarNov 22, 2010
Unless you anticipate that the price of gold will go even higher due to inflation or hyperinflation.
edmcguirkNov 22, 2010
With so many houses waiting for foreclosure do you really think that housing prices have bottomed out? Yes, prices are down but they could go a lot lower if the economy gets worse and the banks are forced to release all their forclosed homes.
If you think that the economy in general right now is about as bad as it's going to get, then by all means, do not buy gold. However if the economy in general is about to get a lot worse, then you had better buy some gold. Even though many people are worried about inflation, many indicators point to a danger of deflation. You would not want to have a pile of gold if that happens.
But then again the future could hold many changes. The economy could get much worse and the government could impose a severe tax on gold for all those people who thought that gold would save them from the government screw ups and taxes that would likely be part of hyprtinflation.
Even the tax advantages of the 401K look like they might really be a liability instead if a failing economy forces the government to raise taxes.
You make your bets and you take your chances.
marko777Nov 21, 2010
@chrisvazquez1
"but is it really smart to invest in something when prices are at an all time high? Isn't the point of investing to invest when prices are low?"
What if today's price is the lowest you are going to see in the next ten years? Apple stock keeps rising. Was it too stupid to buy it 12 month ago when it was all time high back then?
"Eventually you can make a profit because gold prices do rise, but that takes at least two decades."
The price of gold doubled during the last 15 month, and is 5 times (500%) from what it was 10 years ago.
"There are no real useful applications for gold except as a sign of wealth and jewelery. In modern society gold isn't useful anymore because of fiat money."
The main uses of gold is in jewellery, then electronics, then in financial world. The demand for gold (jewellery/electronics) is constantly rising and that in turn affects its value.
The value of gold will keep rising, but its price depends on the value of the fiat currencies you want to use to buy it. If the value of USD goes down, the price of gold in US dollars is going to go up.
killermothNov 21, 2010
Glenn?
coloneljessupNov 21, 2010
Investing 101:
DO NOT take investing advice from basement dwelling warcraft players on digg.com
roy5000x2Nov 21, 2010
Really? So I was an idiot for in investing in gold back when it was only a couple hundred dollars and ounce, with a very good idea that the prices would increase?
Buying gold right now isn't the best idea in the world if you want to make a good return off of it. If "investing advice" becomes mainstream (seriously, there are tv ads for buying gold), then it's usually no longer a good investment option.
showofdethNov 21, 2010
Is it just me or is digg all screwie on the iPhone 4???
charlesivesNov 21, 2010
Interested in buying Gold and holding it directly in your IRA? Visit www.getmyra.com and learn about how you can do this.
raxy09Nov 22, 2010
Thanx for giving nice information!
theregjoeNov 23, 2010
you can start in your couch
http://theregjoe.blogspot.com/2010/11/small-change-can-go-long-way.html