Skol, I am not saying that it is going to happen, but historically it has happened a few times around the world. I am merely wondering about the way it has happened.
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Skol, I am not saying that it is going to happen, but historically it has happened a few times around the world. I am merely wondering about the way it has happened.
Airedale, I'm with Skol on that one, as in I can't see it happening again like it did in the US in the great Depression. We have seen Cyprus trying to confiscate funds from people's accounts in exchange for shares in the banks & this sort of behavior could be repeated, however I don't think we are likely to see any gold specific oppression as such, not in the 1st world economies anyway.
Interesting when you looking at many other fiat currencies of gold value ...hardly a collapse in YEN ...
http://www.kitco.com/gold_currency/i...&otherChart=no
EZ,
Your good buddy James Turk says:
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I guess it comes down to a question of age. If you are older, you want to be more conservative and take less risk. If you are younger, you might want to take more risk. For me, the rule of thumb is that you should have gold bullion equal to your age. A 65-year-old pursuing a less-risky portfolio strategy should have 65% of his or her assets in gold bullion and the rest in various investments. A 25-year-old can have 25% of his or her assets in gold bullion and invest the remaining 75%, which means the portfolio has less liquidity and more risk.
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I'd have to be completely loopy to have assets in gold equivalent to my age. This is the kind of advice that gets suckers into all kinds of trouble, I can't even imagine what this idiot is thinking. As gold currently plunges older people would be getting wiped out, how stupid is that? Turk should be in jail.
It's outrageous and utterly reprehensible, it's no wonder I despise these gold charlatans.
I didn't say I agreed with all of it.. especially that bit you found. That's (JT) dumbing the message down a bit too far. Guess we all have our barrows to push. I see gold's making a move towards over $1400 again though.
Agreed-If the past years has taught us anything,its to be careful out there and dont put all your eggs in any basket.To many oldies got burned with Hanover and the likes-the same can happen with Gold-shares-or anything.
IMO its a time to be conservative,especially for the old with a nest egg
Gold down another $30, we're on the cusp of entering uncharted territory, gold below $1350, where it bounced about a month ago. In the meantime stock indices worldwide are going to the moon, even the Greek index (a country goldbugs thought would precipitate a global crash) is up 122% in the last year.
Last year:
Dow +24%
N225 +75%
Dax +33%
FTSE +28%
HSI +22%
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Gold -15%
The FED admits it doesn't own any real gold only cert.(paper contracts)
http://www.youtube.com/watch?v=OhkOLhsUDtM
Ron Paul and his pathetic conspiracy theories lol. I'm surprised Paul isn't bankrupt after all the money he's thrown at mining juniors, no wonder he wants a gold standard.
I thought the clip was quite clear - the Fed doesn't own any gold - end of story.
The Fed probably has as much interest in gold as they have in the price of lead or feeder cattle.