Gold up 50 plus dollars

[wagoneer]

Wow check out Kitco.com never seen such a big jump.

 

[highdesertranger]

because the financial markets are real nervous this morning. mainly due to the British vote. I think it will calm down and will drop back down a little in a month or two. highdesertranger

 

[gojo]

Wow check out Kitco.com never seen such a big jump.

Market down, gold up.

I just made 294% on QQQ, 107.50 PUT, Option. Lost on my 109.00 CALL Option.

I bot a strangle, with a total profit of 53%.

 

[wagoneer]

Not being a market savy guy Just buy the raw product coins rings chains when it seems low market it's all a gamble

 

[gojo]

I been buying the silver eagle every month. My ammo box is getting too heavy to pack. I believe it would be a problem hauling in a van. Maybe I'll have to start burying it at BLM land. lol

 

[highdesertranger]

I know your kidding about burying it on BLM land. right. in case anybody is thinking of this make sure you don't do it in a gold bearing area. it could likely be found by someone else. highdesertranger

 

[wayne49]

Another $600 and it will be an all time high!

Guy

Priced in fiat script aka FRN. Gold doesn't change value. The value of script is the variable. More FRN to buy a troy ounce of Gold means the FRN is worth less.

Gold is not really a buy low, sell high investment. Gold that you hold, is a physical store of value outside the fiat financial system.

 

[gojo]

I should of figured this one out yesterday, that the market's going to be wild today. Weekly Options were extremely high at Thursday's closing. I usually buy near the money on Thursdays for 15 cent or lower on the CALLS and PUTS . Yesterday my PUT went for $0.83 and Call for $0.52. The big guys (market makers)  had this planned.

 

[IanC]

 trade would revert to barter and one would be better of with a stockpile of liquor, cigarettes and canned food than some small amount of shiny metal. Along the lines of "Chrome won't get you home", you can't eat gold.

Beyond even barter or a shf event. Stocking things (in a brick and stick situation ) that you will always use and are most subject to inflation is almost better than money in the bank . If you had a stock of coffee (for instance ) that you bought for 2.99 a pound. When coffee hits 7 bucks due to drought ,etc. You've more than doubled your money even if you don't sell it or trade it .  Can't say that for many investments.

 

[gojo]

FRN is just an IOU.

http://www.bibleinvestments.com/dollars.htm

 

[highdesertranger]

now your trying to bait me. (rant inserted here). highdesertranger

 

[MrNoodly]

To get technical, the value of gold and other precious metals stays constant. It's currency, and its ability to buy gold, that fluctuates.

 

[MrNoodly]

I think that supply and demand figures in there somewhere too. Who says that the values are constant? If they were then wouldn't the price of all the 'constant' valued metals track in parallel over time. Or are some more constant than others?

Guy

Yes, true, demand also influences the price. But large, rapid changes in price aren't about supply and demand. I suspect the current upswing is about anxiety leading up to and following the "Brexit" vote. (Foolish English voters.)

 

[wagoneer]

just to add a bone to the pile when my parents in the Netherlands were deep in the 2nd world war paper money had no value if you wanted to eat they would go to the farmers the Germans left alone and trade gold for food,soap and other necessities heard may a story about that . Sex was not off the table.

 

[gojo]

When or if the US currency falls. What will be the value of gold? It all started there. Paper currency is only worth what is printed on it. "IOU" 

I heard they want to do way with currency. You would be issued a card (credit type) and every month your earnings would be accredit to your account. That way the government can see how you spend or make money. There would be no cheating on taxes.

 

[ZoNiE]

...Then there's Bitcoin. Wonder what would happen to the value of that in a SHTF event. I'll keep my gold. It will always have value, as in the WWII example, people still accepted it at lower value (Took more to get that bushel of food from the farmer), so they had more after the war. There is the increase in value.

 

[gojo]

Or I'll give you 1 milk cow, 2 laying chicken hens, and 100 lbs sack of potatoes for 1 OZ of gold. LOL

 

[AngryVanMan]

I like commodities as a hedge, but I don't use them as a primary investment vehicle. Any commodity (beans, bullets) can be used as a currency in trade, but both precious metals and Bitcoin make for nice fungible and divisible options for units of account. Both also have downsides. Physical security and storage for precious metals is tough, especially in a scenario that mimicked the post-Depression ban on personal ownership. Bitcoin cannot be seized or detected at any physical checkpoint, and so does make for a highly transportable store of value in such circumstances. Real-time trading of Bitcoin can become a problem if a country suffers a massive infrastructure failure - but to lose it completely, every global communication network would have to be blocked or destroyed and every one of the millions of copies of the blockchain eradicated from the face of the planet. In such a scenario, I think store of value might be a distant concern for most....

The main "problem" with Bitcoin is the average Joe does not understand computer security, encryption, or free and open source software, even at basic levels. This makes it easy to steal Bitcoin from these folks, and to block them from trading effectively if network filters are applied like the Great Firewall of China - most users just wouldn't know the first thing to do. Most people can figure out how to trade a chunk of gold for a bag of rice on the other hand, if they can hold onto the gold.

If underground or black market trading are your thing, nothing compares to the paper USD in volume or availability the world over. Just have to watch out for that pesky "civil asset forfeiture" problem, currently the #1 theft racket by dollar value in the US by huge margins.