OT: What do y'all make of gold's recent rally?
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Treasuries have been getting cheaper (not a surprise to anyone), while the stock market has gone up a ton at the same time. Lots of capital floating around, stocks are pricey and risky to some.
Plus, gold is a niche market dominated by cranks. Old market trueism. Those cranks are mostly cons. When a Dem is in power, they are convinced the end is near and buy gold.
I think it tends to jump in election years. Our stock markets by PE ratios have really sky rocketed since the Great Recession, and even more since COVID. I’m sure some that’s turning some older investors off.
But gold is a crummy investment. If you offered me $1M of gold or land, I wouldn’t have to think very long.
But gold is a crummy investment. If you offered me $1M of gold or land, I wouldn’t have to think very long.
Gold is a hedge against inflation. Inflation up = gold up.
Gold is insurance, not an investment. And you can find a chart on nearly every asset, commodity or security that is "not normal" when overplayed with another cherry picked metric.
Costco selling gold bars and is selling out quickly.
I agree with you that gold is insurance, not an investment.
But this chart isn't a cherry-picked metric. Interest rates are very relevant to the gold market. And the chart is over a 17-year period.
How do I use it if the power goes out? It and cash are practically useless if everything went to complete ****. If that happens, you are going to want to have invested in land and stockpiles of sustaining resources rather than gold.
For interim market swings and recessions, it's nice to hedge some other paper losses through gold ownership. But as long as you aren't planning on cashing out during those periods it's just a security blanket that makes you feel better about your other paper losses.
For interim market swings and recessions, it's nice to hedge some other paper losses through gold ownership. But as long as you aren't planning on cashing out during those periods it's just a security blanket that makes you feel better about your other paper losses.
Gold is a landing spot during recessions but it’s also a commodity and commodities can do crazy things.
I’ll give the economist answer: It may be significant or it might not be.
I’ll give the economist answer: It may be significant or it might not be.
Are you saying we're in a recession? Or that this move is predicting a recession? Or neither?
1st - My financially ignorant self says gold is gold and seems to be on a steady rate climb. Crappy president and other idiots in DC are screwing up all of our financials with their manipulations and wastefullness.
2nd - What kins of people are you following?
2nd - What kins of people are you following?
Heirloom seeds, guns and ammo are what you need to invest in. I personally don't believe in private firearm ownership and lost the guns I did have, be I became enlightened, in a tragic boating accident off the coast of ME in 87. And I know absolutely nothing about Hillary Clinton other she's a great lady and patriot. If I did have any money, I'd donate to the DNC.
No opinion.
In before the lock******************************************
In before the lock******************************************
If **** goes to hell so bad that cash is worthless, what good is a land investment? You gonna wave a piece of paper at interloper?
Thats why I live by a bunch of land owned by the Leo Seal trust. After the apocalypse, I don't expect him to come and demand it back.
17 whole years? I'm sure that'll capture every multitude of economic change.**
Land is useful if it's the right land. I'm not suggesting being invested in it to liquidate it during the apocalypse. I'm suggesting it as a means to survive.
and "if **** goes to hell so bad cash is worthless", the markets and banks will close. Where is your gold, your sock drawer? How are you going to get change for some groceries if you hand over a nugget, bar, or worthless certificate? A 1oz gold bar worth lets say $2500, you going to buy $2500 worth of groceries? I think it will be interesting to watch people try to barter w/ gold.
I came for the consistently dis-proven economics, I stayed for the apocalyptic anarchy fantasies.
10/10 thread, as good as I had hoped.
10/10 thread, as good as I had hoped.
Borrowing a trillon dollars every 100 days now....interest on the debt will surpass Medicare, Medicaid, and Social Security spending by Christmas.
Clearly aren’t in a recession yet. I believe one will happen during the next presidential term (no matter which idiot is president). I’ll be interested in how the economy finishes out this year as well as employment numbers. Everything has been full speed ahead but I don’t know if it can keep the pace.
The truth is, in the immediate aftermath of societal collapse, very few exchanging will actually be happening. No one will be interested in gold. But eventually, a currency (or likely several) will take hold. Gold could be it, but more likely than not it won't, there's too much lying around that could be found and disrupt the market. Likely not ammo either, no civilizations have ever shown much interest in exchanging away their weapons to potential future attackers. Food? Yeah, food. It's limited and has a known value. Can't be used against you. Everything else in need really isn't that limited (shelter, water, air). Much later, something that people trust can be exchanged for food will take hold as a currency.
I have guns and a bin full of rice. I am your new overlord.**
Seventeen years is a sliver of a very large pie. Making inferences on a chart that covers a few years during rapid technological and social development, whereas interest rates are so old historians aren't precisely sure when they were first used and gold is older than people. So no, that chart doesn't mean ****.
If the old Dem in there now gets reelected, yes, our democracy is certainly in doubt....especially when he turns it over to Kamala. Precious metals have always been good smart investments for the long term. I would always keep 10-20% of my assets in Gold/Silver/other metals, etc.
Really doesn’t matter who’s president. Theyre both horrible choices.
What inference did I make? I linked a tweet that shows a divergence from a 17+ year trend, a period that includes the Great Financial Crisis and the COVID pandemic.
I don't even have direct exposure to the price of gold. I just think gold and bitcoin hitting ATHs before the Fed starts cutting rates is interesting.
I'm referring to the text in the tweet that says "this is not normal". You could simulate that 17 year environment a hundred different times and you might see that diversion 90% of the time. Would that means it's not normal? How do you define "normal" being that we have one data set to analyze in the current environment that has all variables that make up the time period represented in that chart? The statement appears to be meaningless and the context is speculative. This is not a pro gold or an anti gold post.
Depends on if the Land is in a developing area. A million $ worth hunting land wouldn't mean crap to me. A million $ worth of land in the Northwest Rankin or Pisgah School Zones? Give me the land.
Interesting that you don't mention the guy who constantly praises dictators for their unwavering control, has continually promised to exact retribution against political opponents when he is in power, praises people who violently attacked police and calls the convict ones hostages, and has praised Authoritarianistic ideas and values countless times.
- I don't want Biden to run again.
- I don't want Trump to run again.
- I don't think Democracy will literally end regardless of who wins In November.
- Regardless of who wins, I do think the country will continue to be less of a functional Democractic republic than it was before 2016.
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