So why is there so much really cheap gold on the forum at the moment?

Discussion in 'Gold' started by Peter, Nov 17, 2017.

  1. jerrygold

    jerrygold Active Member Silver Stacker

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    You are right in some semblance of a working economy, at least that is what history has shown thus far. Ask the people in zimbabwe how well gold held its value against inflation.
     
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  2. Silverling

    Silverling Well-Known Member Silver Stacker

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    Some people actually sold their gold at good profits when spot was @ $1720 and have put their money in cash. Basically bought low and sold high and now they can buy it back $70 cheaper.
     
  3. mmm....shiney!

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

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    Good thing we don’t live in Zimbabwe. :p

    You know what they’re using in Venezuela? Cryptos.
     
  4. jerrygold

    jerrygold Active Member Silver Stacker

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    Venezuelan bolivar makes cryptos look stable though :p
     
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  5. Gullintanni

    Gullintanni Well-Known Member

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    The craziest thing about your comment is that it is not even an exaggeration.
    Crazy world we live in .
    Of course they can not possibly be in a bubble though,aye:)
     
  6. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Bloody Crazy yes, but worth taking a side punt, take advantages of the bubble.

    Turn one single holiday 8nto a good little lump sum or miss out on one holiday.
     
  7. Gullintanni

    Gullintanni Well-Known Member

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    ABSOLUTELY TAKE A PUNT as many of us here are doing.
    I am just not under any illusions like ?????????????? many here that cryptos that are currently on the market will be around in 2 years time.
    It is impossible to make these people see that the illusions they live under could be wrong and they continue to fight tooth and nail that cryptos are the way of life.
    In every bubble people do this and it frustrates me that many here i thought were very smart enlightened people have been blinded by their own bias.
    I would love to think i am wrong but i fear i am correct that when the bubble pops it will to ZERO and what will really really frustrate me is some of them will BS us by telling us how that just sold out and it was LUCKY when in fact they and probably many of their friends and family that they managed to suck in will be broke.
    I will find a link to a guy that posts on YT that was sucked into silver at its height and after getting burnt on that he FOUND THE HOLY GRAIL that was NO FAIL in Perth mint lunar and then commenced to by many of them AT THEIR MOST EXPENSIVE and now sits back to say he is just waiting for them to sky rocket so he he can out AGAIN.
    It would be so so funny if i did not personally know some of these poor foolish people that get so easily sucked in for long term on what should be short term buys.
     
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  8. JulieW

    JulieW Well-Known Member Silver Stacker

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    But I like it.

    probably because I'm a fearful, pessimistic, hoarder too!
     
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  9. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    What ever happened to Venezuelan Oil backed Crypto

    Does that mean we can exchange one Petro to get a barrel of oil?
     
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  10. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    There is too much passion in the debate.

    Does it matter who is right or wrong?

    Money like religion, everyone believes theirs is the right way.

    Throughout history there has been a boom and bust every few decades, there are likely descendants of Dutch families who made fortune selling Tulips still enjoying and smelling Tulips in the morning 2018

    My philosophy, dont have to be the right person, just need to be the smart person.

    Fortunes are made in a Boom/Bubble
    Fortunes are made in a Recession/Depression
     
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  11. dinduboy14

    dinduboy14 Active Member

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    Am planning on purchasing a property so need the cash/
     
  12. alor

    alor Well-Known Member Silver Stacker

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    I thought Russia taken care of their oil already
     
  13. JulieW

    JulieW Well-Known Member Silver Stacker

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    Fair returns:

    [​IMG]
     
  14. Gullintanni

    Gullintanni Well-Known Member

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    I know it should not matter as long as money is made and to that end ,it matters not.
    But i have found myself getting very grumpy with 2 particular ex stackers here that are now crypto religious .
    I do not know why it bothers me so much,i can only say that i completely disagree with their crypto views and i think they are going to lose a lot and by the sounds of it assist many of those people in their sphere of influence to lose it all as well.
    Perhaps it may be that we all used to share similar views and ways to make money with gold and silver and now that they have gone to crypto i am worried that my own views on metals may have been biased?
    All i know for sure is currently cryptos are a great way to make money , but anyone who looks at them as more than a new form of gambling is not going to come out the other side with money left in the bank.
     
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  15. renovator

    renovator Well-Known Member

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    I think this is the pertinent point . Its a gamble & like all gambling any smart gambler will cash out & enjoy the spoils. Imo the "put it all on black " types will more than likely eventually lose the lot .
     
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  16. mmm....shiney!

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

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    Entirely natural, people get angry or upset when something or someone challenges their long held beliefs and values. Good opportunity to look at the situation as rationally as you can and re-assess what you believe. Who knows, you may come out of it feeling more strongly about what you currently think or you may have a new paradigm.

    You’ll do okay, you’re not a Statist. :D
     
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  17. Peter

    Peter Well-Known Member

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    You could make lots of money if you get out of crytos at the right time.
    But greed will probably prevent you (sorry,not you,other people)
     
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  18. Gullintanni

    Gullintanni Well-Known Member

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    I like money as much as the next person and i have kicked myself for selling some cryptos earlier than i "should have" but in the end i make money.
    Could have made more money but i was not to know that at the time.
    Gold and silver on the other hand are really things that if all else fails i can melt them down and make jewelry and most importantly THEY ETCHED INTO SOCIETY THROUGH MILLENNIA OF USE.
    I saw what happened to some people that were buying at the the heights of 2011 and thankfully i have never been one of them.
    When it comes to most things financial (other than property) i never hold onto anything for very long and like to buy low and sell higher than i paid.
    The reason i did not get burnt in 2011 was because i only bought cheap stuff (all relative to any given time point) and sell it at current market value.
    As far as the white metal goes i am still waiting for $13 or under and the golden stuff always has a place in my safes as long as i feel i get a good deal compared to spot at the time:)
     
  19. alor

    alor Well-Known Member Silver Stacker

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    gold is on sale again
    spot + 0.49% for the 100g gold bar from 1 of LCS
    they just had a sale before Dec 17
    mostly they sold on silver, some of the Beasts bullion has been going out the door
    hope for their new delivery to be in stocks again ...
     
  20. lakesentrance

    lakesentrance Member

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    I reckon crypto is at least a 2 faceted beast. 1 is the speculative buying and selling to make quick profits, which was easy in Nov-Dec. My opinion is that has come to an end, or can only end in tears now.

    and 2 are the token/coins ICO's which are purely an investment in an idea you research to the best of your ability for a longer term hold. A bit like buying amazon or google in the early days of the dot com blitz. Instead of buying their shares, you're buying their token/coins. Same diff.

    I'm out of all speculation in cryptos now, and only hold some tokens I think are good business models with potential to become leaders in their field.

    So after a year or two away from stacking, i'm back and looking for that cheap gold.
     

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