So you talking purely about the (pointless) issue of gold being money or not?

Well a guy came and said that gold is money. I said it is not and explained why I think it is not. I don't think it is too interesting either, it's like arguing about the color of the sky.

Yeah, it's like arguing about the color of the sky with someone who is color blind and adamant that it's black, since that's the only color they see. It's clear to other people who aren't blind why that person's convinced it's black but they aren't interested in understanding why those other people disagree. You didn't explain anything though, your posts basically amounted to "but dude, everyone knows dollars are money duh, I can pay my taxes with them !11 they have all this value because the guberments say it do legally!11 der der"

If you want to appeal to an authority with an "impressive" academic track record, perhaps go with this man, he agrees with you about gold:
http://www.youtube.com/watch?v=9QpD64GUoXw

I mean duh, how can anyone disagree with anyone with a summa cum lade from Harvard and PHD in econ from MIT?

I admire how you insist on only employing ad hominem and straw man in your arguement. You can lay back proud tonight, for you have not only won this arguement, but the whole internet. Keep on winning it without me I am tired of talking to a moron.

boobies4me is beating down orlynow

Hey, Id love it if some people could give their input what the implementation of FRN's by the fed/treasury could mean for gold

http://www.zerohedge.com/news/if-195...-get-out-dodge

I can't pay my taxes with dollars.

I admire how you come into a gold thread without reading anything it, without knowing anything about gold, spout off a bunch of cookie cutter uninformed rhetoric about it, make no arguments of substance, attempt to appeal to non-existent authority, and then try to claim it's others who are straw manning. lol. Each post I made earlier was in direct response to what you were posting. You never addressed it, unsurprisingly. It's not me winning the internet, it's just you failing at it.

He went to college and has a job, tho.

Hedge fund guy is going to shave his head after losing a bet that gold would hit $2k/ounce by April 2012

Made me think of you guys...

man this thread contracted aids. geez

the bubble popped, ldo

don't worry, in 30 years this thread will be bumped when gold is hitting new all-time highs again

Clearly a bubble of sorts burst, But Gold is still 3X where it was 5 years ago and 1.5X from two years ago and even 10% over this time last year and within 15% of the all time high.

+1. i mean, im not gonna get all goldbuggy here. but at the same time you gotta question whoever is calling this a "bubble" especially given those numbers.

You need a sarcasm detector, sir.

I know its up y/y but every time I look at the price its still below 1900 and recency bias gets me depressed.

Try relaxing and thinking about things clearly. If you are still bullish it would be a good time to buy more.

Mind lending me a couple thousand? I'll give you 3% interest, you can't get that kind of return in treasuries! (actually I think the 30y is over 3%)

Honest question. Is reading this thread from the beginning worthwhile? From a learning standpoint, that is. Don't really have too many expectations, but I'd like to get a handle on why certain people would rather invest gold over other commodities or securities, etc.

What percent of your portfolio do you currently have in gold?

If its not gold its silver.

The earlier the better as far as actual discussion. These days it's more sweating the PM market and dispatching the occasional troll.

I can give you cliffs for why. Many people see problems with the current dominant currencies (Euro, Dollar, Pound) due to debt problems that are leading to them being printed in excess. This lessens their value in two of money's primary functions, which is as a unit of account and, more importantly, as a store of value. Most people here predict these problems will only get worse in the future, so they are are betting on gold/silver to be the substitute for the big fiat currencies in performing these two vital economic functions. In doing this precious metals are retaking the role that they have held historically, but that the fiats completely took over in 1971 (when Nixon told foreign countries that their dollars are no longer redeemable for gold).

GLD has just about formed a reverse head and shoulders pattern, should be up to 180 or more by July/August (159.31 now). 12-15% gain in three months is nothing to sneeze at.

in "cash is king" times this is very dangerous but you should be fine long term, but you know it from your limit poker games: the long term can be very ****ing long

well, my bankroll is cash

I actually got into gold primarily as a means of balancing my large cash exposure via my bankroll.

Anyone know of a good coin dealer in NYC? E.g. one that can beat or compete with Apmex?