$5000 gold a bad thing

Discussion in 'Gold' started by Lucky, Apr 6, 2020.

  1. Lucky

    Lucky Active Member

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    I’m reading Mike Maloney’s book again Investing in Gold & Silver.

    Robert Kiyosaki writes in the Foreword that he purchased some gold at $300 an ounce and is thrilled to see it reach $1000 an ounce but is also saddened. (2008)

    Saddened because he says that when gold and silver rise like they currently are it means capitalism is crumbling. People lose their life savings, jobs and houses. It also means inflation which makes the basic things we need more expensive. It means we are poorer everyday.

    He says “for this reason I pray that gold doesn’t reach $5000 an ounce. Rather I hope that the dollar will get back on its feet again.

    What are your thoughts on his comments in light of what we are going through today?

    Will we see $5000 gold? What will life look like if we do? I wonder what Roberts thoughts are now on the price of Gold.
     
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  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Hope we don’t.
     
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  3. madaw1

    madaw1 Well-Known Member

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    Nobody knows,but it is very possible--if you've own some you are praying to get to this figure-if you don't you are praying to drop to $300...

    Capitalism has already crumbled regarding gold and silver prize...
     
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  4. silverhair

    silverhair Well-Known Member

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    Sadly I think the author is correct, golds value does not appear to have changed in 100 years. The value of the dollar has.

    100 years ago a ounce of gold could buy a man a new suit. and so could 20 dollars. Today an ounce of gold will still buy a man a nice new suit but 20 dollars will only get a suit dry cleaned.
     
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  5. heartastack

    heartastack Well-Known Member Silver Stacker

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    Mate, you don't have to go far to hear Robert's thoughts he has his own YouTube channel and there are videos just from a few days ago.
    I'm not really into his format i think there are other much more informative channels around now like George Gammon with better guests and broader opinions. Still, I do watch the odd Kiyosaki vid for hints as to where the money is going. The only thing that changed in the last 4 or so years for these old timers is bitcoin.

     
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  6. heartastack

    heartastack Well-Known Member Silver Stacker

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    I do like Mike Maloney's argument that with a new gold standard potentially bringing in all the old socialist populations (China, Russia etc) that the real value of gold will have to go up enormously to compensate for so many more participants in the market. If this happens we're guaranteed to see a revaluation of gold beyond just compensating for crashing dollars.
     
  7. Lucky

    Lucky Active Member

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    Thanks I’ll check it out
     
  8. silverhair

    silverhair Well-Known Member

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    I really enjoy Georges channel. Highly recommended .
     
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  9. Jason1

    Jason1 Well-Known Member

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    surely there would be a point where gold would get to expensive for manufacturing and alternatives are found which would in turn push the price down dramatically. $5k an ounce one would suspect would be a tipping point where manufacturing would consider other options.
    there does need tobe a long term sustainable price.
     
  10. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    China's Yuan has already joined the IMF club of reserve currencies.
    Shhhhhhh..............don't tell anyone ;)
     
  11. heartastack

    heartastack Well-Known Member Silver Stacker

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    I don't get it
     
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  12. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Bad for those that didn't stack.
     
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  13. willrocks

    willrocks Well-Known Member Silver Stacker

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    $5,000 gold and $200 toilet paper.
     
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  14. Ag bullet

    Ag bullet Well-Known Member

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    $20 tin stew
     
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  15. JulieW

    JulieW Well-Known Member Silver Stacker

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    $5000 gold. $5000 is toilet paper.

    But I think we're going there.
     
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  16. hardyakkagold

    hardyakkagold Member

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    I was going to say the same thing.

    Although $5k gold will propel some savvy stackers on here into the ranks of millionaires., I should think.
     
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  17. Lucky

    Lucky Active Member

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    But we have nearly $3000 gold and toilet paper is still cheap. Perhaps $5000 gold wouldn’t make such an impact?
     
  18. Lucky

    Lucky Active Member

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    Surely we must be.
    Gold was roughly $2500au at the end of 2019 before Corona virus.
    Since then billions/trillions have been printed.
    Surely that’s going to raise the price considerably just like in 2008 GFC.
     
  19. Lucky

    Lucky Active Member

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    Gold has risen a lot since the last big crash in 2008. Not sure tinned stew has?
    Golds basically jumped $2000 from 2008. Tinned stew Im sure hasn’t kept up.
     
  20. madaw1

    madaw1 Well-Known Member

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    Perhaps another Venezuela coming up...
     

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