Gold — Totseans

Gold

edited November 2011 in Life
Gold has managed to hold its value since forever.

SINCE FOREVER!

And people think its a bad investment because it doesnt produce anything. Well I think it does. I'm normally a highly rational person but i secretly think gold is magical. Like it actually has magic powers and by owning the gold you control those powers.

Although there is a valid point to be made in that there are no tangible dividends paid from owning gold - but if you have a balanced investment portfolio you'd understand that a defensive position in something that has held its value since forever is worth forsaking a little extra.

Especially when it goes up alongside inflation.

Comments

  • edited October 2011
    If you want to know why central banks still own gold as a reserve asset - and why gold makes up over 70% of official reserves for the US, Germany, France, and Italy - Its because gold is money and gives you magic powers.
  • jehsiboijehsiboi Kanga Rump Ranga
    edited October 2011
    I believe this also ... and have just started to put ALL my savings into gold and silver
  • edited October 2011
    jehsiboi wrote: »
    I believe this also ... and have just started to put ALL my savings into gold and silver

    I'm in the process of liquidating my share portfolio - but ive been doing that alot lately. Its sad because i'll miss it a lot but I dont want to have that percentage of my wealth stored in stocks when the euro crunch happens.

    The perth mint is the place to be when it does; God damn I love Australia.
  • jehsiboijehsiboi Kanga Rump Ranga
    edited October 2011
    Gold can't vanish on you overnight because something a world away happened to whatever business you were invested ..
  • edited October 2011
    Which has happened to me before - Gold can still vanish if you arent careful about where its kept.
  • jehsiboijehsiboi Kanga Rump Ranga
    edited October 2011
    Which has happened to me before - Gold can still vanish if you arent careful about where its kept.

    Of course but you have a little more control in that area
  • alisanLalisanL New Arrival
    edited November 2011
    Yah.. Gold is money
  • Dumpster SlutDumpster Slut Acolyte
    edited November 2011
    Gold is in the midst of a massive speculative bubble because of excessive public participation and fear in our current market. The yellow metal has experienced a boom bust cycle before ... Prices or values do not keep a trend forever - no matter the subject. Gold underwent a parabolic move to +$900 during the late 70s/early 80s - only to crash and become relatively inactive for around 20+ years.

    Buying gold now is the equivalent of buying technology stocks during the height of the manic dot.com bubble.

    However. I still feel that we will see a final short duration price move that will entice even more of the public to put money into gold, pushing it's price even higher - but for a very short time. Investors will allocate their money towards other more appealing investments when an ounce costs $3000...

    Gold, like any other asset moves in valuation cycles given economic conditions. Prices will NOT maintain their elevated status forever. Don't over expose yourself to any asset - you are asking for trouble if you do this.

    here's a chart of gold since 1975.

    375659_180847102005935_100002419382148_360302_1977020263_n.jpg
  • white88enochianwhite88enochian Regular
    edited November 2011
    time to start using acid on these old motherboards and processor to get gold
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