Where are the gold bugs now?

[photo]

Just a few months ago, some people were warning that gold was going to hit the roof and that gold was the only safe investment.

Recent news suggests otherwise.

Gold Experiences an Identity Crisis - WSJ.com

[97guns]

im still here, adding more to the position.

[dojo]

I am a gold bug, but not like this ..

Pension plans are bad in my country, private plans are worse. We'd enter the Euro zone in few years, but Euro is not stable anymore. Won't commnent on the USD. I'd be an idiot to put my money into these currencies for the next 30 years or so.

Because we're talking the money I'd have when I'm 60 or so.

Everything changes in 30 years, but SOLID GOLD IS SOLID GOLD. It stayed with us for thousands of years, so it will stay some more. I don't 'trade' gold, I buy bullion (gold coins with no numismatic value). Few now, few next year etc. In 30 years I might have my money problem solved better than relying on some currencies that might 'drop' nastily.

In my country we've already been through a huge inflation (savings that could buy you a car turned into just enough to buy a pair of pants), so am not gonna make the mistake again.

[97guns]

being the tin foil hatter that i am i have read NUMEROUS stories from people living in these kinds of countries that have experienced high/hyper inflation and gold/precious metals are THE only thing that will protect against it. the middle class is totally wiped out and they take everything they can get their hands on, my brothers pension is taking a hit right here in the good ol usa and many other pensions are under attack. retirement as everyone knows it is no longer. hyper inflation is coming here and if you do not prepare and protect your wealth it will be your own fault.

[Joan.of.the.Arch]

What do you mean by your brothers pension is taking a hit?

What do you mean by many other pensions are under attack?

Are these special cases for investing in something that keeps up with inflation, presumably gold?

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the middle class is totally wiped out and they take everything they can get their hands on.....retirement as everyone knows it is no longer.

I'll be the first to admit that my stocks are not doing well these past few months. However, I'm well diversified and certainly not wiped out. Just as I would never advise anyone to put everything in the stock market, I also think it's a huge mistake to put everything in gold.

[97guns]

my brothers medical benefits will be taken away from him on the 1st, look at your own cities pension plans, they want reform, at least in my city and many other cities that i see, open your eyes.

yes they are special cases, just as the phoney injected, jobless, floundering US economy is. look at the state of europe, do some research, you people are blind folded.

dont take my word for it ask dojo, someone with some first hand experience of true thievery by the gov't., we are getting fleeced and do not realize it.

[photo]

my brothers medical benefits will be taken away from him on the 1st,

I'm very sorry to hear that.

dont take my word for it ask dojo, someone with some first hand experience of true thievery by the gov't., we are getting fleeced and do not realize it.

I'll be the first one to criticize the US government! They stole social security funds in the 70s to pay for other programs, and they should be held accountable, but of course are not. We could give endless examples of corrupt and inefficient government. However, saying that the middle class is totally wiped out is not accurate.

[Joan.of.the.Arch]

Yes, I understand that public administrators are frequently seeking to reduce or eliminate pensions of public employees. I was not sure if that was what you meant by "under attack."

Now I can't figure what you mean by dojo. I googled briefly, but still don't understand.

Photo, I thought he meant middle class was wiped out in countries that have had hyperinflation. Not in the US.


Sorry for the diversion from the gold topic, folks.

[greenskeeper]

Just a few months ago, some people were warning that gold was going to hit the roof and that gold was the only safe investment.

Recent news suggests otherwise.

Gold Experiences an Identity Crisis - WSJ.com

gold/silver investor still here

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gold/silver investor still here

Do you have everything in gold?

[greenskeeper]

Do you have everything in gold?

no, not sure of the actual %.

I am bigger on silver than gold. I think it has the potential to not only keep up with inflation but also close the ratio between it and gold.

Ever since QE1, I switched to the majority of my savings going towards gold/silver/paying off mortage(my only debt) compared to anything tied to the stock market.

[97guns]

Now I can't figure what you mean by dojo. .

dojo is a member that has responded to this thread, gosh

[97guns]

Do you have everything in gold?

im 50% metal and 50% cash flowing real estate, all extra cashflow goes to metal every month, hows that for diversified...think im nuts? im a retired 2 years ago at 39 nut.

[photo]

think im nuts? im a retired 2 years ago at 39 nut.

Not particularly. I also have a large cash flow but am just a lot more comfortable (and have done a lot better) with diversified investments. If you retired at 39, you've obviously made some wise decisions. Congratulations!