7 ms·

Here's a simple portfolio: Short sell gold. You can wait a few more months, but really, short sell gold.

by tybris 16y ago

joezydeco 16y ago
I'm with you. I'm about to put a healthy bet on GLL (2x short ETF). You ever getting the feeling we never learn from all of these bubbles? I see people on every street corner dressed in pimp suits waiving signs to sell my gold at an abandoned gas station. I see people on blogs telling me gold can't lose it's value like the US dollar can. This guy cracked me up: And sometimes not, but nobody has ever gone hungry that had a safe full of gold when there were riots in the streets (like in Greece now) due to the debasement of the national currency. Dude, if you have a safe full of gold, you also probably have enough other resources to ride out whatever instability is happening. Gold is a metal. It's not a currency. It's worth about $450 an ounce at the moment. If you want to survive the apocalypse, stock up on oil or corn.
- anamax 16y ago
  > Gold is a metal. It's not a currency. It's worth about $450 an ounce at the moment. As of 10 minutes ago, gold is selling for over $1100 an ounce, so I'll gladly buy all that you're willing to sell me for $450 an ounce.
  - joezydeco 16y ago
    It costs about $450 an ounce to pull out of the ground and refine. Any price above that is artificial.
- pwhelan 16y ago
  If people want to see what happens when a currency absolutely collapses (minus the whole Nazi thing) look at the Wiemar Republic. Gold was irrelevant than compared to bushes of corn, sacks of taters, oil, etc. Gold has little utility other than jewelry (not important in collapse) and sometimes in electronics apparently. Gold's only worth is in its perception and its concentration, which to use the related Wiemar Republic failure, was that it was an easy payment to the people who sheltered/smuggled people out of genocidal areas. And don't forget water for apocalypse survival.

Here's a simple portfolio: Short sell gold. You can wait a few more months, but really, short sell gold.

by tybris 16y ago

Here's a simple portfolio: Short sell gold. You can wait a few more months, but really, short sell gold.

I'm with you. I'm about to put a healthy bet on GLL (2x short ETF). You ever getting the feeling we never learn from all of these bubbles? I see people on every street corner dressed in pimp suits waiving signs to sell my gold at an abandoned gas station. I see people on blogs telling me gold can't lose it's value like the US dollar can. This guy cracked me up: And sometimes not, but nobody has ever gone hungry that had a safe full of gold when there were riots in the streets (like in Greece now) due to the debasement of the national currency. Dude, if you have a safe full of gold, you also probably have enough other resources to ride out whatever instability is happening. Gold is a metal. It's not a currency. It's worth about $450 an ounce at the moment. If you want to survive the apocalypse, stock up on oil or corn.

anamax 16y ago
> Gold is a metal. It's not a currency. It's worth about $450 an ounce at the moment. As of 10 minutes ago, gold is selling for over $1100 an ounce, so I'll gladly buy all that you're willing to sell me for $450 an ounce.
- joezydeco 16y ago
  It costs about $450 an ounce to pull out of the ground and refine. Any price above that is artificial.
pwhelan 16y ago
If people want to see what happens when a currency absolutely collapses (minus the whole Nazi thing) look at the Wiemar Republic. Gold was irrelevant than compared to bushes of corn, sacks of taters, oil, etc. Gold has little utility other than jewelry (not important in collapse) and sometimes in electronics apparently. Gold's only worth is in its perception and its concentration, which to use the related Wiemar Republic failure, was that it was an easy payment to the people who sheltered/smuggled people out of genocidal areas. And don't forget water for apocalypse survival.