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How well will one be off being 100% gold
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Golden Child
User ID: 85422
7/3/2008 10:09 PM
Report abusive post | How well will one be off being 100% gold
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I'm quite curious as how well one would do being 100% gold? This of course is barring a total collapse aka mad max scenario. Yes I know this is risky but correct me if I'm wrong but gold is the ultimate universal currency. Yes please don't tell me about being diversified and that I can not eat gold (have 10 cases of mountain house food) I constantly hear about 15-20% and 50% at best, but what about ALL gold? Being 100% gold with inflation/hyperinflation does this only keep pace with the deteriorating dollar or does this give substantial returns rather than keeping pace?
So this is for all the GLP economic gurus out there, lay it on the table for those that have 100% gold (some silver) assuming there is some economy left over. How well will these people fare after wards? After watching the CNBC show Untold Wealth I began to think "What IF these 50-100+ millionaire hedge fund managers pile into PM's to preserve what they made, what is that going to do for the very small percentage of those 100% into gold...one can only imagine, but I would like to hear possible hypothetical scenarios/outcomes
Lets keep the snide remarks to minimum and present all possible hypothetical scenarios/outcomes for those ALL GOLD
(btw this for under 500oz for a rought estimate)
The floor is for the gurus..lay it on the line!! |
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Anonymous Coward
User ID: 367362
7/3/2008 10:56 PM | | Re: How well will one be off being 100% gold | Quote |
I think that is a personal choice. Great fear might motivate this choice. Imagine yourself surrounded by your gold waiting to justify its ownership. Your life to defend it. Your fear feeding on itself. The media is telling you to buy gold, buy fear. None of us know how to preserve our financial wealth in these times. I really don't think it matters. |
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Anonymous Coward
User ID: 331956
7/3/2008 10:57 PM | | Re: How well will one be off being 100% gold | Quote |
food will be more valuable than gold.
Book it. |
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Anonymous Coward
User ID: 453145
7/3/2008 10:58 PM | | Re: How well will one be off being 100% gold | Quote |
Good luck buying your food with 100% gold! OR gas, or any usual supplies. You'll need it. |
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Anonymous Coward
User ID: 412873
7/3/2008 11:05 PM | | Re: How well will one be off being 100% gold | Quote |
I'm quite curious as how well one would do being 100% gold? This of course is barring a total collapse aka mad max scenario. Yes I know this is risky but correct me if I'm wrong but gold is the ultimate universal currency. Yes please don't tell me about being diversified and that I can not eat gold (have 10 cases of mountain house food) I constantly hear about 15-20% and 50% at best, but what about ALL gold? Being 100% gold with inflation/hyperinflation does this only keep pace with the deteriorating dollar or does this give substantial returns rather than keeping pace?
So this is for all the GLP economic gurus out there, lay it on the table for those that have 100% gold (some silver) assuming there is some economy left over. How well will these people fare after wards? After watching the CNBC show Untold Wealth I began to think "What IF these 50-100+ millionaire hedge fund managers pile into PM's to preserve what they made, what is that going to do for the very small percentage of those 100% into gold...one can only imagine, but I would like to hear possible hypothetical scenarios/outcomes
Lets keep the snide remarks to minimum and present all possible hypothetical scenarios/outcomes for those ALL GOLD
(btw this for under 500oz for a rought estimate)
The floor is for the gurus..lay it on the line!! Quoting: Golden Child 85422
Actually it would be very hard. For one no one would want to give you any change back, so it would have to be an even trade. Many would not know what it is worth. Youwould not get gold change back. It is heavey and you would wear out holes in your pockets. You would be marked for robbery. some people would not want to trade for it too. We just do not trade it. People would trade worhtless dollars before trading gold for food. It is illogical these days. The young clerks inthe stores would always have to calll the managers and even they would not know what to do! Gold is good to invest in but not for trade anymore. |
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Anonymous Coward
User ID: 462684
7/3/2008 11:06 PM | | Re: How well will one be off being 100% gold | Quote |
Being 100% in anything is just flat out not a good idea. |
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Anonymous Coward
User ID: 333742
7/3/2008 11:08 PM | | Re: How well will one be off being 100% gold | Quote |
first, ignore the "you can't eat gold" idiots
second, silver is probably better. You CAN eat silver!
Don't forget your palladium. We won't see a total collapse, so society will move forward, and palladium will be in shortage.
You can't eat food, so don't worry about buying that.
good luck.  |
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Anonymous Coward
User ID: 85422 (OP)
7/3/2008 11:17 PM | | Re: How well will one be off being 100% gold | Quote |
Great fear might motivate this choice.
The media is telling you to buy gold, buy fear Quoting: Anonymous Coward 367362
Actually FEAR has nothing to do with it. Its more like being UNDERVALUED asset than anything at all.......
BS about the media!! All I hear from them is HORRIBLE RETURNS for years on end, they do everything in their power to discourage one from buying something real.No I don't think its about fear its more like they insinuate you will not get a good return, but that's irrealvant being seriously undervalued. I'm afraid you just contradicted yourself there |
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Anonymous Coward
User ID: 331956
7/3/2008 11:18 PM | | Re: How well will one be off being 100% gold | Quote |
first, ignore the "you can't eat gold" idiots
second, silver is probably better. You CAN eat silver!
Don't forget your palladium. We won't see a total collapse, so society will move forward, and palladium will be in shortage.
You can't eat food, so don't worry about buying that.
good luck.
bullshit
food is king
then oil (energy returns are enormous)
and allies |
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Anonymous Coward
User ID: 424777
7/3/2008 11:28 PM | | Re: How well will one be off being 100% gold | Quote |
None of us know how to preserve our financial wealth in these times. I really don't think it matters. Quoting: Anonymous Coward 367362
That's the attitude we we were looking for... |
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Anonymous Coward
User ID: 85422 (OP)
7/3/2008 11:29 PM | | Re: How well will one be off being 100% gold | Quote |
!
Actually it would be very hard. For one no one would want to give you any change back, so it would have to be an even trade. Many would not know what it is worth. Youwould not get gold change back. It is heavey and you would wear out holes in your pockets. You would be marked for robbery. some people would not want to trade for it too. We just do not trade it. People would trade worhtless dollars before trading gold for food. It is illogical these days. The young clerks inthe stores would always have to calll the managers and even they would not know what to do! Gold is good to invest in but not for trade anymore.
I can't resist a reply to this one as I think you FAIL to realize what the gold is for in the first place. It is NOT for day-to-day expenses but yet to pick up a business of some sort. Kinda like picking up left over pieces for a bargain and make that money work for you. Wow you actually thought buying gold for living off of was the purpose. Ummm your not too bright and I'm quite young at learning how this works and what you stated is NOT the reason to be acquiring gold for |
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Anonymous Coward
User ID: 367362
7/3/2008 11:30 PM | | Re: How well will one be off being 100% gold | Quote |
OP, Gold has had great returns the last few years. I told you it was a personal choice. How have I contradicted myself? |
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Anonymous Coward
User ID: 424777
7/3/2008 11:34 PM | | Re: How well will one be off being 100% gold | Quote |
It is heavey and you would wear out holes in your pockets. You would be marked for robbery. some people would not want to trade for it too. We just do not trade it. People would trade worhtless dollars before trading gold for food. It is illogical these days. The young clerks inthe stores would always have to calll the managers and even they would not know what to do! Gold is good to invest in but not for trade anymore. Quoting: Anonymous Coward 412873
Gold is heavy? So are canned goods and ammo.
Girls are for trading, you First worlder, gold is for keeps. |
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Anonymous Coward
User ID: 85422 (OP)
7/3/2008 11:38 PM | | Re: How well will one be off being 100% gold | Quote |
OP, Gold has had great returns the last few years. I told you it was a personal choice. How have I contradicted myself? Quoting: Anonymous Coward 367362
LOL historically that's has been the mantra...TODAY and last few years the tune is changing steadily. I was commenting on the media and how they precieve it. Know what I mean, so by saying the media says to buy out of fear, but they DON'T want to tell you its UNDERVALUED asset |
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Guns n' God
User ID: 275868
7/3/2008 11:40 PM | | Re: How well will one be off being 100% gold | Quote |
100% anything is not that bright. |
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Anonymous Coward
User ID: 85422 (OP)
7/3/2008 11:43 PM | | Re: How well will one be off being 100% gold | Quote |
LOL I'd certainly like to hear what real econ intelligence has to weigh in......Omega, Malu and others I can't think of off the top of my head |
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Anonymous Coward
User ID: 367362
7/3/2008 11:45 PM | | Re: How well will one be off being 100% gold | Quote |
My Dad saw the "Gold Fever" of the eighties, he told me if society ever descended to that point you wouldn't want to own it. Do you really think owning gold is going to save you? You asked a question, there are no perfect answers. Being 100% in gold is for a fearful person. |
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Anonymous Coward
User ID: 322321
7/3/2008 11:56 PM | | Re: How well will one be off being 100% gold | Quote |
50% gold and 50% silver !! |
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Anonymous Coward
User ID: 367362
7/4/2008 12:02 AM | | Re: How well will one be off being 100% gold | Quote |
OP, Omega posts articles off of what he's heard from financial websites like tickerforum. Malu is a survivalist, he can't be bothered by your gold questions, he would tell you to buy guns and ammo. Okay, so you put all your money in gold? Are you seeking validation? No one's is going to validate your choice. |
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Anonymous Coward
User ID: 368888
7/4/2008 12:04 AM | | Re: How well will one be off being 100% gold | Quote |
$1,000 an ounce X 500 ounces = $500,000 worth of gold.
Would be pretty awesome to leave some of this to your kids in your will.
1. If you have your house paid for and have no debt
2. If you have pantry full (as you said you did)
3. Have heirloom seeds, and gardening books
4. Land to grow your own food.
5. Couple thousand in cash in case economy crashes
I see no real problem owning 500 ounces of gold.
Would not let your neighbors know about it. Keep gold yourself, don't buy certificates.
If you have a chance, silver may have a great chance to go up in value. |
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Anonymous Coward
User ID: 462694
7/4/2008 12:07 AM | | Re: How well will one be off being 100% gold | Quote |
25 cents worth of lead will secure all the gold I could ever need. |
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Anonymous Coward
User ID: 322321
7/4/2008 12:09 AM | | Re: How well will one be off being 100% gold | Quote |
LOL I'd certainly like to hear what real econ intelligence has to weigh in......Omega, Malu and others I can't think of off the top of my head Quoting: Anonymous Coward 85422
Look , you should look for real advisers before made your move !!
Read this 2 guys and then ...do whatever you want to .. (investment is a long term decision , its not a Las Vegas's bet) :
[link to www.butlerresearch.com]
[link to silverstockreport.com]
good luck !! |
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Anonymous Coward
User ID: 21201
7/4/2008 12:20 AM | | Re: How well will one be off being 100% gold | Quote |
I have heard this several times......Sometime within a year, They are going to devalue the dollar... They are going to drop one zero and you will have to turn in all your cash at 10 cents on the dollar.... Now.... If this happens this is my question...... What would gold and silver do? Will they drop a zero there too?
If you have 100k in your 401k ...after the devaluation you will only have 10k.... It is coming don't doubt it... Now...What would gold do? |
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Anonymous Coward
User ID: 367362
7/4/2008 12:23 AM | | Re: How well will one be off being 100% gold | Quote |
Look you dumb-ass person coming to a conspiracy forum that is infiltrated by data-mining spooks, maybe you are a spook. So, fuck-you and your gold, go with food, weapons, and skills. In the coming economic collapse I don't want your gold. |
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Anonymous Coward
User ID: 85422 (OP)
7/4/2008 12:23 AM | | Re: How well will one be off being 100% gold | Quote |
My Dad saw the "Gold Fever" of the eighties, he told me if society ever descended to that point you wouldn't want to own it. Do you really think owning gold is going to save you? You asked a question, there are no perfect answers. Being 100% in gold is for a fearful person. Quoting: Anonymous Coward 367362
Holy crap I don't think I have received an answer yet. I did NOT ask for criticism of a joint choice. (not MINE alone) I asked for a HYPOTHETICAL outcome barring collapse of civil society. Yes I've hear/read about the 80's. My family made their wealth in stocks and I know they wouldn't think of buying gold. Again history back then dictated that gold was too cheap to be 35 an oz and and rose all the way to 850. WHY do we have to have this perception that gold is DOOM rather it be UNDERVALUED asset class that runs in cycles. Geez I don't equate undervalued with doom and TEOWAWK |
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Anonymous Coward
User ID: 367362
7/4/2008 12:30 AM | | Re: How well will one be off being 100% gold | Quote |
I'll give you one more chance. Personal decision. History of gold. You are motivated by fear. Why don't you look at the gold charts? Undervalued asset? 60% of gold market is jewelry. |
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Anonymous Coward
User ID: 21201
7/4/2008 12:38 AM | | Re: How well will one be off being 100% gold | Quote |
If the dollar is devalued to 10 cents on the dollar.. .. .. I can go to Canada with my gold and get 100 cents on the dollar.... Better think about it...... |
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Anonymous Coward
User ID: 462684
7/4/2008 12:38 AM | | Re: How well will one be off being 100% gold | Quote |
LOL I'd certainly like to hear what real econ intelligence has to weigh in......Omega, Malu and others I can't think of off the top of my head Quoting: Anonymous Coward 85422
Well fuck you buddy!
Next time just ask them and don't bother the rest of us who really know what the fuck is going on. |
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Buzz
User ID: 458940
7/4/2008 12:50 AM | | Re: How well will one be off being 100% gold | Quote |
Well it's a risky tactic.. and it depends on the game you think you'll be playing.
A lot of people in this board are predicting total, global, and final economic collapse. That the end is here and we'll be shooting our neighbors for their last cans of spam.
If this happens (it won't) then gold will be as valuable as a crisp dollar bill. Everyone who says 'you can't eat gold' will be right. Food will be the currency of choice.
That being said.. if you don't think absolute economic catastophee is upon us, then owning gold is a great hedge against the devaluation of our dollar.
I personally wouldn't reccomend owning 100 percent gold, silver, or 100 percent of anything. I've had a surge of clients lately asking me about gold and silver and how much to own.
5 years ago I would have told them 10-15 percent max. Most of my colleagues would have said 5-6 percent, and even more would have said to look towards owning stock in the companies who mine the metals.
Now, I think 25 - 30 percent is a fair amount. However, I don't tell my clients to buy into PMs to make money, I tell them to buy into PMs to preserve their wealth.
I don't see gold skyrocketing to 10k an oz, but I don't see it ever dipping back below 700... again, it all depends on the game you want to play.
Personally, I own both gold and silver, as well as positions in the mining of both metals. The total of all three makes up about 19 percent of my current portfolio and I have no immediate plans to increase my positions.
As a side note, I bought into the Euro a few years back, and the successes of this currency have put me in a better position to take heavier risks with my other investments. (thus why I only hold about 19 percent in PMs) Had this not been the case, I wouldn't have an issue with 25 or 30.
All the best |
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Anonymous Coward
User ID: 85422 (OP)
7/4/2008 3:34 AM | | Re: How well will one be off being 100% gold | Quote |
Wow what a bunch of sharks (except for a few of ya, especially buzz) but I guess I shouldn't be the least bit surprised here. Anyway guess time will certainly tell the outcome quite soon. As I said before its not my decision alone and I have tried to mention mining stocks, euros other instruments BUT the answer I get with those are OVERVALUED, and this comes from someone who used to own a commodities brokerage Chicago who knows a lot more than me with experience to boot. We have been buying since 03 so we are way ahead of this game. Yes I do agree with most this is RISKY to be ALL GOLD COINS but your not going to tell one with a decade more experience than yourself what to do. Its not going to happen and they have that overbearing complex that comes with it. So what do you do, just go with the flow and know that experience "seems" to know for things like this than yourself, but you (the student in learning) can't help to wonder what the outcome of having it in all physical gold will be the end result, but when people claim gold to rise so much will be a struggle to survive that doesn't really make me feel good about it all. Anyway I get it so no need to hammer belabor the point. All I can say is it will be a very interesting picture that's about to unfold |
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Anonymous Coward
User ID: 837
7/4/2008 9:17 AM | | Re: How well will one be off being 100% gold | Quote |
Lots of negativity about metals. This is very good. She has a long way to go yet. |
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