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SpainGold

About the current price of gold. Time to buy or not?

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15 hours ago, MancunianStacker said:

I’d take it. I bet the people of Venezuala would have too (had they had any gold before it went hyper). Nobody thinks it could happen to their country.

 

that is a mountain to a mole hill comparison.

venezuela can go bust as many times, as often

as they want. world economies won't even bat

an eyelid. having the dollar effectively going

bust(60 times increase in gold priced in dollars)

is a big event as the world economies stand. it

could happen but this would take a long time.

the paper £1 has taken about 100 years to

devalue ~250 times. let's assume it's linear for

easy calculations, that's 20 years to devalue

~50 times. this is from the height of the £ or

roughly where the dollar is now.

yes gold 'can' reach $87k but if past history is

a good indicator for timing, I wouldn't hold my

breath for it to happen.

(my guess is nowhere in the video do they

give any indication that it could well take 20

years or more to happen)

 

the op is asking whether or not to buy now or

in 2 months time. giving predictions 20 years

into the future is a bit long winded.

who knows what will happen in 20 years time.

 

HH

 

Edited by HawkHybrid

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IMHO, I would buy a little now and a little more in another month as I add to my stack.  If my gold stack was of sufficient size, I would buy silver as the gold to silver ratio is high. 

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4 hours ago, erv said:

IMHO, I would buy a little now and a little more in another month as I add to my stack.  If my gold stack was of sufficient size, I would buy silver as the gold to silver ratio is high. 

Nooooooo - don’t ever do that!!!!!!

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@HawkHybrid I simply put a video up as it is the most recent with these two chaps. Do you believe the American  debt is really repayable? Trump is the master of bankruptcy. He could be the sitting president when he declares the country bankrupt, have a debt jubilee and reset the debt. The numbers can’t go on forever, the tax income won’t pay the interest at x years in the future. I think it will be sooner than you think. Time will tell,  so good to have a few £s in gold now just in case.

A possible hard Brexit in the next few months could see Sterling “tank” as Branson put it yesterday in an interview. Having savings in Gold protects your currency devaluation. If it went up 15% in the last 3 months it means any cash in the bank has devalued 15% compared to real money that can’t be printed. 3 months post Brexit could see another 15% right? 

Gold can be sold the same day if you need fiat. The old saying of “only invest what you can afford to lose” should be considered but I feel gold is safer than cash in a bank these days!

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@MancunianStacker had a number of conversations about Venezuala style hyperinflation happening in developed economy (currencies listed below) and the chances of this happening slim at best. Another financial crisis most likely outcome rather than Government bailout will be haircut on all deposits held at banks. Hyperinflation will destroy the economies of the develop countries and governments will do anything to prevent it. Belief that debts cannot continue to grow and in the future there will be a tipping point but Governments can adopt modern money theory and adopt zero percent interest rates (or negative). You cannot go bankrupt if you have the good fortune of paying zero percent on your debt and the longer it takes to pay the debt inflation will help reduce debt.

EUR/USD Euro and US dollar Fiber
USD/JPY US dollar and Japanese yen Gopher
GBP/USD British pound and US dollar Cable
USD/CHF US dollar and Swiss franc Swissie
AUD/USD Australian dollar and US dollar Aussie
USD/CAD US dollar and Canadian dollar Loonie
NZD/USD US dollar and Canadian dollar Kiwi
GBP/EUR British pound and euro Chunnel
EUR/CHF Euro and Swiss franc Euro-swissie
EUR/JPY Euro and Japanese yen Yuppy

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48 minutes ago, MancunianStacker said:

@HawkHybrid I simply put a video up as it is the most recent with these two chaps. Do you believe the American  debt is really repayable? Trump is the master of bankruptcy. He could be the sitting president when he declares the country bankrupt, have a debt jubilee and reset the debt. The numbers can’t go on forever, the tax income won’t pay the interest at x years in the future. I think it will be sooner than you think. Time will tell,  so good to have a few £s in gold now just in case.

A possible hard Brexit in the next few months could see Sterling “tank” as Branson put it yesterday in an interview. Having savings in Gold protects your currency devaluation. If it went up 15% in the last 3 months it means any cash in the bank has devalued 15% compared to real money that can’t be printed. 3 months post Brexit could see another 15% right? 

Gold can be sold the same day if you need fiat. The old saying of “only invest what you can afford to lose” should be considered but I feel gold is safer than cash in a bank these days!

As well as gold holdings why not spread your cash in a basket of different currency liquidity funds - spreading your GBP risk and also receiving income.

Norway (no national debt) and Singapore currency’s are pretty strong.

 

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3 hours ago, MancunianStacker said:

A possible hard Brexit in the next few months could see Sterling “tank” as Branson put it yesterday in an interview. Having savings in Gold protects your currency devaluation. If it went up 15% in the last 3 months it means any cash in the bank has devalued 15% compared to real money that can’t be printed. 3 months post Brexit could see another 15% right? 

Gold can be sold the same day if you need fiat. The old saying of “only invest what you can afford to lose” should be considered but I feel gold is safer than cash in a bank these days!

 

these are perfectly valid opinions.

 

I doubt they are a major part of the video

calling for gold to reach $87k?

 

3 hours ago, MancunianStacker said:

@HawkHybrid I simply put a video up as it is the most recent with these two chaps. Do you believe the American  debt is really repayable? Trump is the master of bankruptcy. He could be the sitting president when he declares the country bankrupt, have a debt jubilee and reset the debt. The numbers can’t go on forever, the tax income won’t pay the interest at x years in the future. I think it will be sooner than you think. Time will tell,  so good to have a few £s in gold now just in case.

 

we are nowhere near this point.

alternatively which years does the people on

the video (stake their reputation) claim it'll

definitely happen by?

 

(these videos with extravagant 'must happen'

claims have existed 2013 or earlier. there's

no insight. it just makes profitable media.

it's for entertainment. no real calculations

have actually been done. only bias cherry

picking of data to make eye catching

headlines.)

 

HH

Edited by HawkHybrid

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4 hours ago, MancunianStacker said:

 

Gold can be sold the same day if you need fiat. The old saying of “only invest what you can afford to lose” should be considered but I feel gold is safer than cash in a bank these days!

Yes absolutely, gold is at least as good as cash... according to the latest Basel rules it is a Tier 1 zero risk weighted asset, same as cash.

Edited by goldmember44

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13 hours ago, erv said:

IMHO, I would buy a little now and a little more in another month as I add to my stack.  If my gold stack was of sufficient size, I would buy silver as the gold to silver ratio is high. 

 

buy gold if you believe it will rise in value.

buy silver if you believe it will rise in value.

 

don't buy silver because of the high gsr.

don't lose sight of the goal which is to

increase the value of what you own. so far

the gsr have failed to help silver buyers for

3 years and counting.

 

HH

Edited by HawkHybrid

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The GSR is also an old age way of valuing silver in terms of seeing if it’s under or over valued. 

 

The silver pumpers love showing this as an argument for people to buy silver.

 

since silver has no longer been used in currency this argument just doesn’t have value anymore.

Can banks use silver as part of their solvency balance sheets?  No!  Can they use gold?  Yes!

Silver is purely an industrial driven commodity.

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Another perspective on this topic The Gold  boat has already left the docks. Swim if you must to chase that boat. Suppose the boat sinks by end of the year, wouldn’t you have to wait for the next ride either way? If you know your risks and point of exit before the boat ride sink, by all means do what you need to do.

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7 hours ago, Au79 said:

Another perspective on this topic The Gold  boat has already left the docks. Swim if you must to chase that boat. Suppose the boat sinks by end of the year, wouldn’t you have to wait for the next ride either way? If you know your risks and point of exit before the boat ride sink, by all means do what you need to do.

This is inception level deep.. far beyond my ability to comprehend

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