$5000 gold a bad thing

madaw1 said:
Perhaps another Venezuela coming up...
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I've always seen Australia as more Argentina:

A hard working population in a country blessed with natural resources, gradually destroyed by a corrupt political class selling out the country to foreign interests, and then selling out what remains to an unsustainable and corrupt social model sold as socialism and naively supported by a middle class on its knees.
 
JulieW said:
$5000 gold. $5000 is toilet paper.

But I think we're going there.
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We went from 200-300 $ gold in the beginning of the 2000's, now we're at 1,720 $. The dollar didn't turn into toilet paper.

I can imagine reaching 5,000 $ in 1-3 years WITHOUT the dollar turning into toilet paper.

Realistically, the dollar could lose as much as 50 % of its value or even more, like 70 %, 80 %... And gold will be a great asset to have by then :D
 
FFS.
Gold at $5000 is only half way to the stacker-narrative holy-grail of $10K.
It is what you have been wishing for for years...... so you could finally say "I was right".
For years I have been listening to the hopes, dreams and whaling of stackers that it should be there already!
And now you want to call it a bad thing?
Really?
C'mon, don't hide your true colours now! :p
 
wrcmad said:
FFS.
Gold at $5000 is only half way to the stacker-narrative holy-grail of $10K.
It is what you have been wishing for for years...... so you could finally say "I was right".
For years I have been listening to the hopes, dreams and whaling of stackers that it should be there already!
And now you want to call it a bad thing?
Really?
C'mon, don't hide your true colours now! :p
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Maybe it's a bad thing because they don't have enough stacked?
 
Is that $5000USD or AUD?
If the Aussie dollar drops to 40 cents and gold goes to USD5K....................you better have more than gold if you want to live. :eek: :D
 
Lucky said:
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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I think it is highly likely that we will see 5000 $ gold, but I'm one of those people who believes that one can also gain from the price increase.

The prices of various items and services don't run in parallel. And gold can help you buy more/better when its price goes up.
Real estate might go down, while food prices could go up and at the same time car prices could also go down.

Expensive gold might not be a bad thing, unless we're talking about extreme hyperinflationary situation, like the ones in Zimbabwe, Venezuela.

In extreme hyperinflation I expect the following:
- gold might not follow the pace of food price inflation, so it will help much: food shortage, low value currency, but lower demand for gold (also because few will be able to afford it, governments might impose limits regarding trade etc.) will implicate a lower price increase for gold
- almost no-one will buy your gold
- you will only be able to trade very small amounts (1-2 g or even less!), because if even 1 gram will be worth 7,000 $ and a bread will cost 1,200 $, then few people/dealers will be able to give you that amount of money
- PM dealers will close/go bankrupt: they live mainly out of selling gold at a high price, NOT FROM BUYING IT BACK!
- high commissions when selling your gold: during a hyperinflationary extreme scenario, the dealers will obviously have to live out of BUYING GOLD BACK, not necessarily reselling it (of course, they will also have to re-sell some amounts, otherwise they will "get clogged"), so they will slam you with 10-25-50 % commission, because they can't afford to go out of business
- you might have to cut your gold up in fragments: you might find yourself in difficulty with several gold bars that you don't want to sell one-by-one, so fragments of smaller parts might be a good idea
 
TreasureHunter said:
you might have to cut your gold up in fragments: you might find yourself in difficulty with several gold bars that you don't want to sell one-by-one, so fragments of smaller parts might be a good idea
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You don't have to-switch to fractionals 1g,1/20,1/10oz just in case when something what you are saying will or might happen...
 
hardyakkagold said:
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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I doubt that very much, most here are flippers. Having said that, they are very, very good flippers. :D
A few bit-coiners won the lotto. :eek:;)
 
The only problem I can see is when does gold become unaffordable.
So we are all buying now thinking gold will go to the moon and it may...............then what?
Who will you unload it to and will you be stuck with it in a quick vertical falling market?
 
quick vertical falling, after a few rounds you would get used to it
gold would continue to serve a purpose
when there were not much money around, people don't have that money
with so much paper, people would have that money...but they can not buy a lot with that kind of money
price or the exchange rates would determine the rates in the future
 
To hedge effectively with gold, you need to some real cash first. Need chicken b4 you can have eggs.
 
If you are a believer that Gold will skyrocket to $5000 USD, then I would assume you believe that Silver will eventually follow Gold even though initially, at modest gains on a lower trajectory.
Now, given that to be the case, would it not make sense to flip some Gold to Silver along the path to hedge your bets?

I am a firm believer that Gold will have its day in the sun and Silver will more than likely be the forgotten treasure trove whilst the Mainstream Media keeps its focus on Gold. That to me is probably a good time time to flip. Just my thoughts.
 
$5k per ounce gold just means that basically everything would cost 3x what it does now (houses, cars, food, etc).

Gold just keeps pace with inflation (not day-to-day, but over years/decades). That is all. It goes steadily up, barely ever down... and not down for long. As Rickard always says, "there's always enough gold... depends on what you want to value the gold at."

If gold went to $5k, then a car that now costs $30k would cost around $90k, so you'd still need to cash in 6 ounces of gold to get it either way.
OneDay said:
At this point. One million dollar gold is possible. But what would a million dollars buy you at that point?...
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Yes^^^
Gold could be 1K or 1M or 1B per ounce... doesn't matter. It is all about buying power, and gold's has been roughly the same for centuries and centuries.... even millenniums.
 
I the "3,000 $ Gold Thread" I posted an image with the triangle in gold's chart. I think a major price drop is coming.

What do you think?
 
TreasureHunter said:
I the "3,000 $ Gold Thread" I posted an image with the triangle in gold's chart. I think a major price drop is coming.

What do you think?
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I’ve noted a lot of junior mining stocks aren’t very frothy right now which could mean speculators are believing gold is overbought there. Short term trajectory is economies opening back up etc more positive news. Still all BS of course but perception is reality for the time being... upside potential with any economic earthquakes otherwise probably losing steam I would imagine
 
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