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gold closed today april3, 2006 at $589.90 when will it hit the magic $600 ??

Started by michael,

15 posts in this topic

michael

michael

Posted
Posted

oh my

 

my my my my my my my..................

 

i am getting the vapors from all this gold rise 893whatthe.gif

 

now let me asks you this possoms

 

when will gold hit $600 or above and do you see it at $800+ in a couple of years or so 893scratchchin-thumb.gif

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MunkyMan95

MunkyMan95

Posted
Posted

I believe gold will hit the magic $600 within the next 2 weeks. I however do not see it going to $800 in a few years. Just my opinion.

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Bruceswar

Bruceswar

Posted
Posted

I see no end to the gold rush in sight. 600 will be very soon, and I can see it closing in on a 1000 in the future. Good times for gold right now.

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truthteller

truthteller

Posted
Posted

"Good times for gold right now."

 

 

I agree. But, this means bad times for the $US are just ahead. frown.gif I hope everyone's coin collection is paid for.

 

 

 

TRUTH

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truthteller

truthteller

Posted
Posted
I've heard this talk about the USD failing for some time. Can someone please explain to me why this is so?

 

 

Several factors are in play:

 

In 1980, the US was the largest CREDITOR nation in the world, owning portfolios throughout the world. The $US was seen as THE safe haven and used in most international transactions.

 

In 2006, the US is the single largest DEBTOR nation in the world, with other nations owning many US assets WITHIN the USA proper.

 

The US has achieved a negative savings rate, first time since 1933, meaning the average american owes more than he/she is worth.

 

The Euro is now seen as a major safehaven for international transaction, although the currency has problems of it's own.

 

China and Japan now control almost HALF of the US treasury bonds, and the US is no longer in control of it's own financial destiny.

 

A very expensive war with NO resolution in sight.

 

Interest rates are creeping upward, which makes the average american worker vunerable, makes US products more expensive to produce.

 

The Iranians will soon switch to a Euro based oil bourse. While small in the scheme of things, a major blow to dollar based prestige.

 

An overbought housing market now cooling, making 35% of the homeowners seriously close to default.

 

Many foreign oil producers now buying gold and platinum to shore up their tangible asset reserves, making $US vunerable. While the $US is down against the Euro by a few percentage points since late last year, the $US has fallen by double digit percentage points againt Asian currencies within the same time period. The $US is not as attractive now. The Asian and Indian marketplace is the new future for financial instruments. Up and coming versus stagnant.

 

 

 

TRUTH

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EZ_E

EZ_E

Posted
Posted
I've heard this talk about the USD failing for some time. Can someone please explain to me why this is so?

 

Simple:

 

The definition of the word "inflation" in most all pre 1960 dictionary was simply "an increase in the money supply". Now, economists have a wide array of convoluted definitions for the word which confuses the issue.

 

Our money supply more than doubles every ten years which, theoretically, cuts the purchasing power in half w/o a backing of the currency.

 

So, as we print more and more money w/o backing, its purchasing power decreases until hyperinflation is eventually reached.

 

At the end of WWI, the Treaty of Versaille made Germany pay more war retributions than they had in circulation. This caused them to print more and more paper money. So, in just a few short years, a wheel barrel full of Marks wouldn't even purchase a loaf of bread. The same thing happen in Argentina and, to a lesser extent, in Chile and Russia.

 

The only thing we can do on a personal level is to minimize our debt and a small hoard of gold or silver isn't a bad thing, either.

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truthteller

truthteller

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Ok, then what happens when it eventually does fall on its face? Are we all doomed?

 

 

Yes, we are doomed. The $US must compete against other currencies for world commodities such as oil, timber, natural gas, consumables. So more dollars must buy less commodities. You currently see gasoline prices nearing all time highs again, even without a natural disaster like Katrina. Eventually, you will see higher prices on essential goods. Anyone who does business with foreign companies sees the effects currently. The most outrageous effects will be in 10-15 years, when the debt is no longer sustainable. That's when our children will pay for the current economic folly. Remember, the debt MUST be paid back sometime. What is recommended is holding tangible assests such as gold, silver, coins, easily bought and sold collectibles. These tangibles are the universal currency in any country. Do not hold dollars in savings, since the interest will be eaten buy inflation and loss of value due to the exchange rate. Buy investment portfolios(mutual funds) in multiple foreign currencies also, as a hedge.

 

 

 

TRUTH

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chinook

chinook

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Posted
Ok, then what happens when it eventually does fall on its face? Are we all doomed?

 

Yes. Then the USD will be the #2 or #3 most respected currency. Currently these positions are held by the Euro and Yen. I really feel sorry for those poor Europeans and Japanese as they face DOOM everyday.

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