Gold at ATH.....what do your tea leaves say?

Discussion in 'Gold' started by mybullion.com.au, Sep 17, 2024.

?

The tea leaves have spoken, the price of gold (currently $3825/oz $AUD) is:

Poll closed Sep 24, 2024.

  1. In bubble territory - a correction is imminent, but buying the dip is a good idea.

    1 vote(s)
    6.3%

  2. Overvalued - its time to start selling and continue doing so. Bear market on the horizon.

    0 vote(s)
    0.0%

  3. Plateauing - minimal movement expected from here on.

    3 vote(s)
    18.8%

  4. Undervalued - This is a great buying opportunity.

    5 vote(s)
    31.3%

  5. I dont drink tea.

    7 vote(s)
    43.8%
Multiple votes are allowed.
Page 6 of 16
  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    mmm....shiney!, Jan 2, 2025
    #101
    mybullion.com.au likes this.
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Whichever type of failing system we have, it's working great for asset hodlers.
    Homelessness up almost 20% in
    Merica this year.
    Consumers so strong and resilient!
     
    Last edited: Jan 2, 2025
    JohnnyBravo300, Jan 2, 2025
    #102
    Real $ Return likes this.
  3. mybullion.com.au

    mybullion.com.au Well-Known Member

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    mybullion.com.au, Jan 2, 2025
    #103
    JohnnyBravo300, Real $ Return and mmm....shiney! like this.
  4. mybullion.com.au

    mybullion.com.au Well-Known Member

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    mybullion.com.au, Jan 2, 2025
    #104
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  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    It's not perfect but it's certainly not failing.

    "Goldbugs are never without misery and never without hope."
     
    mmm....shiney!, Jan 2, 2025
    #105
  6. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Yeah i guess it's all perception.
    Some would consider it truly the best times ever haha.
     
    JohnnyBravo300, Jan 3, 2025
    #106
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  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    I think most of it stems from a misunderstanding of fiat. If someone holds to an opinion of what they think fiat should be but it's not designed to fulfill that role, then obviously they're going to consider it a failure.

    Take retaining purchasing power or a store of wealth as two examples. It's not designed to fulfill either of those functions.
     
    mmm....shiney!, Jan 3, 2025
    #107
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  8. pmbug

    pmbug Well-Known Member

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    and this is why they fail (ever so slowly until not so slowly). The celebration of debasement amongst the MMT crowd is a curious perversion IMO.
     
    pmbug, Jan 3, 2025
    #108
  9. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    A celebration of debasement? What exactly is there to cry about debasement when fiat is not designed to retain purchasing power? There's a whole host of asset classes to put your wealth into. Have you ever heard about gold or BTC for instance? Just don't keep it in fiat and you're probably ahead of the game.

    Altogether though your post is just proof in point regarding the misunderstanding of the function of fiat. Fiat fails when the State fails. Until then it serves it's purpose as a tax credit.
     
    mmm....shiney!, Jan 3, 2025
    #109
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  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    The working environment is getting easier and easier with less competition all the time.
    Our new guys start at over 2k for a full week and there's no one interested at all.

    8 or 10 years ago we had 30 or so on the crew, now 6 or 7 if we're lucky.
    Why does no one want money?
     
    Last edited: Jan 3, 2025
    JohnnyBravo300, Jan 3, 2025
    #110
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  11. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    No one wants money (jobs) because it appears a dead end pursuit, not realising that investing the excess is where real money is made.
     
    sammysilver, Jan 3, 2025
    #111
    Real $ Return and mmm....shiney! like this.
  12. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Ive also noticed in the job market that government jobs aren't what they used to be.

    USPS is hiring but it only pays $19 an hour for a mail carrier.
    My father in law is a retired mail carrier. He raised three kids and supported a wife, mortgage, nice cars and all the Federal bennies you could want and a fat retirement.
    Now the bennies are minimal and the pay sucks.

    I applied for a structural trades job at the college here and although some of the bennies are decent the pay sucks just as bad.

    Since I started working, ive noticed that govt jobs usually had higher pay and benefits that the private sector didn't provide but now it seems to be reverting back.
    Wages in the private sector have risen much more in the last 4 or 5 years.
     
    JohnnyBravo300, Jan 3, 2025
    #112
  13. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    I think it’s more about reality shiney :)
    I know, everyone’s reality is different depending on experience, as we’ve proven.
    So you’ve mentioned, you have no reason to believe that the powers that run our show would lie to us.
    Can I ask, what reason you have that these powers tell us the truth?
     
    betterinvestmentthanshare, Jan 4, 2025
    #113
  14. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    correct,
    Medium of exchange only.
    And the majority don’t know this because it’s not taught.
     
    betterinvestmentthanshare, Jan 4, 2025
    #114
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  15. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    Food for thought
    Australia: gold up almost 40% over 12 months and almost 670% over 20 years, averaging close to 33% per year
    Inflation hedge?
    Store of value?
    Appreciating tangible asset?
    A relic of the past?
    You could use it as collateral once, wonder why the policy was changed?
     
    betterinvestmentthanshare, Jan 4, 2025
    #115
  16. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    It still is, CBs use it all the time as collateral, just have to find someone willing to take on the risk, banks don't deal in gold any more so they're not likely to accept it.

    Cash Converters do though. Lol
     
    mmm....shiney!, Jan 4, 2025
    #116
  17. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    That's your take on my beliefs. I don't happen to share that view.
     
    mmm....shiney!, Jan 4, 2025
    #117
  18. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    It functions as that, but it's also designed to be a tax credit.

    Yep, or they don't want to know.
     
    mmm....shiney!, Jan 4, 2025
    #118
  19. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Zirp and brrr is the goal. That's all you need to know.
    Economics made easy.
     
    JohnnyBravo300, Jan 4, 2025
    #119
  20. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    mmm....shiney!, Jan 5, 2025
    #120
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