What about buying gold now?

That's what the radio commercials keep telling me.

 

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What's preventing you from doing it?


[edit]
Aren't the only difference in depression & recession magnitude?

 

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I did do it Roman.

 

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Duration.

 

Most of the money diluting the value of the dollar is generated by the thousands of commercial banks making loans, according to the interest rates set by the Federal Reserve.

The lower the interest rates...the more money is generated out of thin air.

The VALUE of gold changes very little...what changes far more is its PRICE.

 

Yes I have hidden all the gold & silver bars that Nietzsche bought in an undisclosed location.

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The ONLY circumstance where debt is desirable is when its pays for an investment that yields more than the debt's interest rate.

So if you borrow $10,000 at 8% interest to invest in something that yields 20% you are still making 12%...minus the inflation rate.

 

Gold's around $900/ounce right now.

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Wow, nowhere is safe. Gold plunged today.

I think the central banks around the world sold some of their gold reserves in a coordinated effort to help fend off the liquidity crisis. Does anyone have a handle on this? I watch Bloomberg and I haven't seen any reporting on what happened.

 

It's fishy. I can't say i've got a handle on this. Some powerful people are trying to save the american dollar however....

 

It's only a temporary road bump to the inevitable. Take advantage of the current low prices of gold and silver while you can.

 

And that is good from a global perspective since complete loss of confidence in the dollar would fuel the crisis. Of course being in gold was supposed to be the right place during a global economic crisis, so I agree it is fishy.

Some of the gold conspiracy theorists have been saying right along that the central bank was selling gold into spikes to help avoid panic. When people pull money out of banks and buy gold to stash in their safes then ... well, you know how bad that would be for the economy and for banks. I guess I can't fault that type of Fed action but it makes gold investing unintuitive

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. But I'm sure not recommending anyone sell their gold yet.

 

Right, this seems like a gold and silver buying opportunity, but I would have said that yesterday too so if you buy you have to be prepared for volatility.

 

I'm buying lithium. You can make batteries out of it, and it really mellows you out.

 

Can I get a dose by chewing a lithium battery?

 

Sure, go ahead.

 

Yikes, it makes my fillings tingle just thinking about it

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.

 

this seems oxymoron. if you want to buy gold then why pay off debt as you are betting inflation will reduce your dollar value?

 

regarding buying gold, I read, (I have no idea if this is true) but anyway, I read that gold price can be manipulated easily.

 

That is what I have heard. It is certainly true. Think how easy it would be if the G-7 central banks want to act together. They have proved they can by lowering interest rates in unison. Are they selling gold in unison too.

Maybe I am getting carried away though. It could be that todays gold decline is just a reflex response to a one day jump in the dollar. If so, gold should be up next week. Let's wait and see.