ok while objectively to me it seems like inf0wars knows more about this stuff than anyone else i have met, i cant help but be under the impression that he is a moron (no offense to your posts inf0, they seem well thought out and appear to make sense, but when EVERYONE is disagreeing..).. along with this, it is well noted how much warren buffett looks down upon investing in precious metals these days - and if warren buffett says its a bad investment im going to have a hard time questioning it. could someone that is fairly knowledgable about all of this stuff PM me and explain to me WHY everything inf0 is saying is wrong (without citing reasons buffet has given, as i have read pretty much EVERYTHING on his stance of the subject)?

more specifically -
what is to stop the dollar from becoming completely worthless?
why is it a bad idea to invest in things that are not able to be produced and are in limited supply?

thanks in advance

In keeping with Kyleb's theory of who bumps a gold bug thread today seems as good as any. Anyone here a buyer around 885?

its annoying how the crazy idiots like info show up when theres panic to throw out nonsense then disappear again as theyre proven wrong.

i am short a small amount of DZZ. thats all for now.

Gold just broke major support and SLV is back at $12.

Whered all the morons go?

Short term, who knows.

A couple of years from now, you'll probably be saying, "Remember that time I could have bought gold on a dip for less than $900. Those were the days."

The US military...serious opinion.

Wouldnt it necessarily infer that if it really is such a compelling long term buy then it should also perform well in the short term? Especially considering youve argued at length that gold can perform well in both a weak and deflationary economy.

They refused to sell gold to pay for their internet bill obv.

just for frame of reference, i agree with you that the hardcore gold bugs on this forum (and in general) are morons.

however, i think major support is the 880 range. so i dont think it has broken through yet.

if it breaks through 880 convincingly then gold has a high probability of going to 780.

And 4 hours after it touched 885, gold is at 941. How you like me now, Yowserrrs?

PS Nice instincts, Jimbo. Hope you followed through.

That doesnt really answer my question.

i would say it has short term strength from the demand side in "deflation" as it is a case of liquidity preference driving demand in present times. short term reasons it can do bad though include the fact there may be lots of public gold sales putting pressure on the increasing demand.

Last week, I sold paper gold (GLD) with the intention of adding to my physical gold stack this week at a lower price...hopefully near or below $900. When I got to the computer today, I was happy to see the gold spot at $889 and planned to visit my local coin shop this afternoon. The spot price I first saw was a delayed quote, however, and when I checked a more up-to-date price a few minutes later, gold was over $940! I wonder whether this huge spike may be an over-reaction to the fed's announcement that it will buy long term treasuries.

How big is this news? Will the fed's action dramatically increase inflation, or will it just be another ineffectual measure against the deflationary tide? Is today still a good day to buy gold? Are central banks likely to start selling gold now to raise funds and/or suppress the price of gold?

How about buying foreign currencies/bonds? Is the USD now doomed?

For me, the key for gold is whether it breaks out to a new all-time high (i.e. past $1034) relatively soon.

If it breaks out to a new high, my target for the new uptrend is ~$1380 within ~6 months of the breakout.

they must disclose,r ight? is there a time lag between sale and disclosure?

Barron

I assume this is based on technical analysis. Do you favor a particular wave theory or indicator(s)? What about fundamentals?

Gold jumped by about 6% after the fed announcement and I believe the USD index declined 2.71% today. Do you expect gold to continue to outperform foreign currencies due to global competitive currency devaluation?

I know the fed's action has caused the fear of inflation to spike, and fear is good for gold. However, I still believe we are in a depression and I doubt the fed's purchase of a few hundred billion of long term treasuries will counteract the collapse of (private sector) debt/credit and massive destruction of wealth we've experienced. I thought we would have to wait for this bear market rally in stocks to end before gold resumed its upward march. Either gold has responded to a temporary spike in inflation FEAR, or I may need to revise my thinking. What do you think?

Any Canadians have experience with buying physical bullion from ScotiaMocatta, a subsidiary of Scotia Bank? I like the idea of dealing with a big legit company. Am I better off, however, looking into local coin shops or online dealers? Thanks in advance for any advice.

Any advice for someone that has lots of cash (i.e., not in a bank account of any kind; actual cash) and wants to buy some gold? Are there places that sell gold by the ounce that I can physically purchase in person?

I'm living in NJ, near Philly, if it matters. I'm a complete investment noob, if that wasn't obvious enough.

I suspect there is a coin/bullion dealer or two in the Philadelphia area. My local shop is selling one ounce gold bullion coins and bars for about 6% over the spot price; the premium is a bit more for American coins and a bit less for Mexican gold pesos. You can also purchase on the internet and pay with a money order or cashier's check. APMEX is a popular site.

the best is to buy gold and silver coins for cash at a coin shop. Then, in maybe 5 or 10 years when you go to sell the gold, you sell it back for cash, and there is no record of any transactions and it is up to you whether or not you want to pay the capital gains tax.

i've bought gold and silver from the big scotia bank in downtown toronto (on the main floor of the scotia plaza, the big brown building, second tallest in toronto.)

i think it's a great way to buy physical metal. For buying gold, i would recomend buying the 1oz bullion bars (it's worth the small premium for the 1oz bars... as opposed to say the 5oz or 10oz bars). I would not buy things like the gold maple leaf coins from scotia bank because they charge you sales tax... so it's way cheaper to buy bullion bars.

also, this is a GREAT place to get physical silver at low premiums. i was buying 20oz bars last summer... but now all they have is 1000oz bars. even though the 1000oz bars are a pain in the ass to deal with because they are so damn heavy, it's a great way to get physical silver at near spot prices. it's almost impossible to get physical silver anywhere else at near spot prices. so the silver bullion from scotia bank is a good deal.

the bad part about buying from scotia bank is that you have to fill out a bunch of forms and show identification. so there is a record of your purchase. if you go to a coin store and pay cash, then the government doesn't know how much gold you own (and therefore, they don't know how much capital gains you've made).

but it's an easy and legit way to get real gold and silver... you can pay on credit card... the premiums on the bullion are probably lower than you would pay for a coin in a coin shop.

Thanks binions, I chose the GDX to use a couple of days ago and just estimated 31.xx for an entry then put in a small GTC order, it executed today while I was visiting relatives so I'm pleased. I couldn't stand the stigma of potentially being labeled a gold bug so I left the GLD and physical to their own devices.

ya they're supposed to discolse and there is a time lag. gold reserves are reported through the imf monthly so they can be sold before being reported. there are still ways of twisting this, i.e. double counting of gold, though the imf is tackling this issue in the next year or so.

you can buy and have it stored at the canadian mint, fyi. canadian mint stamped gold is the best and their coins have guranteed values.

plus the coins look so balla.