The future of gold

Discussion in 'Gold' started by mmm....shiney!, Dec 31, 2017.

  1. Jim4silver

    Jim4silver Well-Known Member

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    My biggest investment mistake was listening to fools like Jim Sinclair and his cowboy hat wearing idiot sidekick who said "GOTS" get out of the system because everything was going to crash years ago.

    My friends who avoided PMs and had their money in stocks from 2010 till now are up a few hundred percent in profits while my silver stash is about the same, only because I spent much time buying undervalued cool bullion that I can flip for a profit. If I bought generic bars, etc, I would be down.

    So you might not go broke being all in gold/silver, but you might never make any gains either. Much smarter to diversify than go all in PMs.

    PS I've done better shorting particular stocks (via put options) over the past year than any "profits" I've made on my silver stash. Getting some $$$ saved for the "big one" when stocks really do tank, or to buy "calls" when a China deal is reached and the market soars (only later to crash again though as it will "someday").
     
    Last edited: Oct 17, 2019
  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I bought some US banks stocks in 2012. Didn't buy into the end of the Dollar BS at that time. I was bullish on the US economy even in 2010, this was before iOS, Android and all those stuff that now controls phones/cars and practically the entire world.

    I'm out of most of my stocks for now, mostly cash/bond, and some pm. I said earlier this year that something big is going to happen and it turned out to be HK. HK is the tip of the iceberg (the iceberg is China).

    I'm now really concerned that Xi may sacrifice the economy for the "unity" of China. It may sound crazy because if China continues growing economically, eventually, the whole of China will unite peacefully in probably another 50-100 years and everyone will be happy.
     
    Last edited: Oct 17, 2019
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  3. mmm....shiney!

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

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    He's got a two-pronged bow at the moment.

    The Chinese economy is screwed, it's built on sand, he knows that, everyone that deals with them knows that. With maybe the exception of some politicians, pro-basketballers and maybe the average Chinese. Any little chinks in the Chinese economic armour that come to the surface and his power is threatened, so he's got this other prong in his bow - nationalism. As long as he keeps things "together", he'll have the reluctant support of the people. Once the shit hits the fan and it may well be a different story.

    It's then that the economy may be sacrificed for order.
     
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  4. SilverDJ

    SilverDJ Well-Known Member

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    And you can keep those $$$ savings in gold while you wait. Bonus is if/when the market crashes that gold is likely to have gone up, so you get the double whammy of your gold buying more cheap stock or property than your cash would have.
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  6. Jason1

    Jason1 Active Member

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    ive never understood the comparison from Precious metals to Crypto's, one is a commodity the other is another Fiat well certainly in the case of Chinas cryptos.
    So it makes no sense as to why People try and put them side by side and think only one of these can survive and there is some war going on between them, when in truth is they arent the same and both could continue to work at the same time in their own markets.

    as for the article Yer I have thought for some time the gold price was a bit more artificial over actual demand for the physical product. so makes sense and would predict a decline in price soon considering many on wallstreet have changed their positions
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I'm skeptical of cryptos such as bitcoin because it is technology based and easily replaced by a better technology (another crypto), but at the same time, I try to keep an open mind.

    China cryptos are fiat, but so are dollars. Cryptos can be backed by commodities (stablecoin) and it's actually highly possible for China to come up with a "gold back crypto" and have it used in China and African countries. Of course, China won't be the only one doing it. Facebook is also trying to push through the idea with Libra.

    As much as we hate it, it will take away some of the demand from precious metals.
     
    Last edited: Nov 13, 2019
  8. Jason1

    Jason1 Active Member

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    Im personally not a believer that it would take away demand of a physical asset especially one that is a commodity and has uses outside of simply just a trading tool unlike a crypto.
    However the rest of what you said I certainly have similar views on and almost completely agree with you on that.
     
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  9. whay

    whay Active Member

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    Sorry wrong post
     
  10. JulieW

    JulieW Well-Known Member Silver Stacker

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    Very true. I too was a follower of Mr Sinclair, "Mr Gold", and as gurus go, he was quite good**, and he had the track record also.

    His advice to close out 401ks and take the financial hit seemed reasonable at the time and the thousand or more believers who attended his GOTS seminars probably thought so also. Now, not so much.

    I'm not sure what blew the dust from my eyes, but I suspect it was the paywall that arrived with Bill Holter - one guru i took an immediate dislike to. "This is looking scammy" I remember saying to my screen one day, and so my "following" days ended.

    None of these pundits have a clue of what will happen. Not a chart or trend or chicken entrails have any answers. The simple rules of diversify and don't lose your initial stake seem to be it.

    Sympathies for your hit and take-down, as prompted by Sinclair/Holter. I still think Sinclair has insider information on the gold movements, but I don't think we'll ever hear it. As for Holter he just comes across as a self-important wanker. Credibility zero.


    p.s. ** from Monty Python - "I say you ARE the messiah and I should know, I've followed a few
     
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  11. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    It's probably hard to predict anything in this system. Just when we think it's all over they print more and keep it going and pump the bubbles bigger.
    Theres no way to know exactly when everything is fake.
    Reason #1453 why they should all be fired and hung from the highest branch.
    Eventually it will go back to metals as it always has and this time wont be any different. They arent as smart as people think they are.
     

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