This was another gold crash...

Discussion in 'Gold' started by TreasureHunter, Jul 22, 2015.

  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
    The beatings will continue until moral improves.
     
  2. Peter

    Peter Well-Known Member

    Joined:
    Jul 28, 2009
    Messages:
    2,633
    Likes Received:
    117
    Trophy Points:
    63
    Location:
    sydney
    People who are dishearted by this drop should get out , because before
    this is all over, gold will be attacked and driven lower many times and to a greater extent.

    Perhaps it will finally overcome the bankers and politicans who don't want an alternative to currency.

    It will take guts and perseverance to hang on.
    It's not for speculators.
    jmo.
     
  3. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
    I'm just hoping we don't become the target of political attacks.
     
  4. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

    Joined:
    Oct 19, 2014
    Messages:
    2,493
    Likes Received:
    15
    Trophy Points:
    38
    Location:
    R.I.P
    There's a Porsche in Moscow with a paint job containing 20kg of gold.
     
  5. The Crow

    The Crow Member Silver Stacker

    Joined:
    Jun 17, 2014
    Messages:
    846
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    "The Place of Many Crows"
    Apparently self-flagellation is good for the soul
    :)
     
  6. Audeamus

    Audeamus Member

    Joined:
    Mar 1, 2014
    Messages:
    94
    Likes Received:
    1
    Trophy Points:
    6
    Location:
    Victoria
    The reason for holding gold is for one reason and one reason only - Insurance policy. Frankly, it's a bad investment, it returns nothing by way of dividends or income. To go all in is crazy, to have none is crazy.... Like all insurance policies hope you never need to use it.

    The recent nonsense in Greece in my opinion is not a typical period of distress for gold support. The banks are still in control, whether this be in theory or fact, the reality is, they (and others) think they are. The Greece concern was more about political contagion not financial. Half of Apple's cash reserves could wipe out Greece's immediate debt problem, the banks were not going to risk a global melt down over this alone. Potentially big problems in that part of the world and others I agree, but not yet. War on the other hand would be a different story.

    However, the reason for holding gold to me is clear. If the reserve banks are holding it, because lets face it they really don't what's going on either...Then so will I...

    Do as they do... Not as they say!
     
  7. Peter

    Peter Well-Known Member

    Joined:
    Jul 28, 2009
    Messages:
    2,633
    Likes Received:
    117
    Trophy Points:
    63
    Location:
    sydney
     
  8. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    Keying potential would be immense!
     
  9. Peter

    Peter Well-Known Member

    Joined:
    Jul 28, 2009
    Messages:
    2,633
    Likes Received:
    117
    Trophy Points:
    63
    Location:
    sydney
    Repeat
     
  10. ScottyRS

    ScottyRS New Member

    Joined:
    May 27, 2014
    Messages:
    216
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    United Kingdom
    I say keep it falling like a lift gone wrong. I'm ready to start snapping up all kinds of sovereigns/bitannias and anything else i can get my hands on... first purchase made last week and i'll keep on going until it goes back up over 800oz.
     

Share This Page