1) It has no intrinsic value

2) It yields nothing

3) It's at it's all time (nominal, inflation corrected it's still down about 40%) high

Im broke poor and lonely I don't know anything

Ive done well at poker and equities but there are tons better and richer than me. But I am very pleased with how I've done

you should get covestor i'm getting it... Talk is cheap!

????????????????

if gold has no intrinsic value... than what does have intrinsic value?

people say that inflation adjusted high for gold is around $2200ish or something... but don't forget... that's adjusting the price according to government inflation as measured by the CPI. According to John Williams from shadowstats... the real inflation adjusted high for gold would be over $7000... so when people throw out price targets of $2000... i don't think that's anywhere near close to the 1980's high... and in my opinion, gold has the potential to do better than its previous bull market in the 1970s, so when people (like peter schiff) toss around the numbe $5000 gold... i think that's a very reasonable longer term price target

I looked into covestor but sadly they don't support options and forex yet so that makes it useless for me. Options and forex (as I live in a euro country investing partly in dollars) are a big chunk of my return.

A company, debt instrument, whatever has value because it earns something. It gives you back money after you invested money in it. This give the product value. I know you don't understand this but still call other people dumb in economics. Ironic. It's a protectionary investment until it's not. It protects you until it doesn't (1980).
Again: you can have other things in your portfolio than dollars or gold. I know you can't understand this.

edit: and just picking fund mangers who have had a good performance doesn't count. you have to pick someone who has been at least somewhat vocal in making economic predictions. so i want to see things like TV interviews, radio interviews, podcast interviews, newspaper articles, magazine articles, books, journal articles, blogs, whatever.... some people are obviously just good traders and can still do very well by making good real time decisions as the markets move, while being totally unable to predict things months and years in advance. you can pick a fund manager if this manager has made his investment strategy public and has been making open economic predictions that people have followed. because there may have been people who have made better economic predictions and just kept their thoughts to themselves so they could make invesments... but that doesn't really help us much. also, schiff makes pretty much his entire record available for everyone to look at. he has every single tv interview that he has ever done in an archive on his site... he has archives of weekly articles that he writes, he does a live radio show once a week, he does daily video-blogs, etc.... so i want to see someone else out there who you think was more accurate than schiff who also has a big body of economic forecasts and analysis which we can compare to schiff's.

and you should preferablely find someone who you have listened to for economic advice over the last few years. i started listening to peter schiff a lot after i read his book. his book convinced me that what he was saying was true, and i think i did a good job of selecting the right person to listen to. i certainly have not been too surprised by anything we have seen so far in the economy... if anything... all that has surprised me is that things aren't even worse than they are now.... so i am very thankful for schiff for explaining everything in advance so that i had a pretty good idea about what was coming. So who have you been listening too that has been so much more accurate than schiff? who do you listen to? read? follow? that has made better economic predictions than the schiff?

Lol at assuming I don't understand such basic things. How does Gold not give you something back if you buy at $900 and sell later at $1100? Sounds to me like it gave me $200 back. It is protectionary now, I can't say it was in 1980. The dollar was not staring down its death like it is now. Don't you understand that variables need to be considered when you talk about metals?


Again, I do understand this. I even said in my first post that you should have "a lot" in Gold/Silver, I never claimed 100%. You are dense and a moron, go on and do what you want, we'll see who's laughing in a few years (and for the past year).

That the price of gold fluctuates doesn't give it any intrinsic value.

That means that literally nothing has intrinsic value, according to you.

I explained it before but you didn't read that apparently.

Dear Moron, you said that stocks had intrinsic value because someone returned profits to you and then essentially said that this means that stock prices don't fluctuate. Honestly are you even being serious or do you just form these nonsensical arguments for fun? I wish you could be interviewed on TV so everyone could laugh at you.

"DON'T BUY GOLD IT HAS NO VALUE!!!"

Tell that to the people who, for thousands of years, have used metals as a form of currency. They must not have known that Gold is useless.

wow i dont think intrinsic value means what you think it means

brons, why are we even trying to argue with these guys in any way at all. it's pointless because deep down inside we both know they are right. i've sold all my stocks and am contacting europac and the franklin mint today. i will buy silver and palladium as well as collectible dishware that i think will go up in value.

but seriously, this is not an argument that can be won. we've both gave it a decent shot, they are just too intelligent and knowledgeable about economics. nothing we can do. i'm gonna cut my losses here (i hope)

"Yea man we know we're right man!"

We'll see who is laughing in a few years as I have been for the last year. Do what you want, there is no convincing an idiot, especially when that idiot neglects all proof.

Haha. I said this to myself about 50 posts back. But I keep coming back to this. Not sure why.
In finance, intrinsic value refers to the value of a security which is intrinsic to or contained in the security itself. It is also frequently called fundamental value. It is ordinarily calculated by summing the future income generated by the asset, and discounting it to the present value.
http://en.wikipedia.org/wiki/Intrinsic_value_(finance)

This is what intrinsic value is. Now tell me golds intrinsic value.

It's ironic you call me a moron but you don't understand these concepts. People believed that the earth was flat, the sun revolved around the earth, that gods lived in trees or the sky. Your point being?

None of these beliefs lasted from the beginning of their discovery to modern times, none of them. To apply them to Gold is idiotic and is against all logic.


How many times must I explain that I don't give a **** what you do, I will laugh at you in a few years as I have laughed at people like you for the past year. Morons are morons, morons keep cash. Cash is for morons. You are a moron. And to retort your next argument "Stocks aren't cash", my reply is "ORLY?"

Good luck.

stocks aren't cash

Too bad you won't post here anymore if gold would crash. Just like when gold dropped last year the gold threads suddenly stopped.

I am not getting rid of my Gold/Silver in a year, or 5 years for that matter, so natural drops won't bother me. Apparently you don't understand this.

I wonder what would happen if people stopped valuing shiny things for personal pleasure....

+1. I have 5 kilos that I am holding on to.

This thread is getting bumped in a few years from now and it will be the best bump in the history of any forum anywhere.

Period.

Is this a serious post? You honestly think Gold's value is purely derived from Kay Jewelers buying it? Are you REALLY being serious?

lol, you have 200k in Gold.

yup, it is real mhhoney. You cant really do your plums on gold. If it drops it will rise again. Interest rates are nothing and looks like staying that way.

How much does that weigh?

arguing with these trolls is like trying to nail jello to a tree.