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2 hours ago, bkk6060 said:

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  🙂

 

I am sorry to say that you have little understanding of gold and its role.

 

By comparing gold "performance" with the Dow, you are not comparing apples with oranges, but apples with cotton or cement.

 

Gold is money, not an investment.

 

Gold appreciates when currencies depreciate, as is the case these days.

 

It keeps its purchasing power constant while paper money inflates, hence your "profits" on the stock markets, most of which are the result of inflation, and not of the concerned companies' performances.

 

People don't own gold to make money, but rather to preserve the purchasing power of their money.

 

Consider it as an insurance.

 

Many people are not inclined on gambling in the stock market casino, because this is what it is, a rigged casino.

 

Regarding the US stock market, you may notice that almost all the (inflationary) gains are made by overbought shares in a handful of companies.

 

Outside the US, many stock markets have gone nowhere since the collapse of the bubble in 2000, or earlier in the case of Japan.

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2 hours ago, bkk6060 said:

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  🙂

 

As you seem keen on cherry picking take a look at this.

Over the past 49 years, the price of gold is up 5500%. 

Over the same period, the Dow has gained 3150%.

And he was comparing to currencies anyway, not stocks.

 

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2 hours ago, bkk6060 said:

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  🙂

 

Here is a little present to put stocks performance in perspective (I am a subscriber to this weekly newsletter):

 

https://www.davidstockmanscontracorner.com/rotten-at-the-core/

 

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Posted (edited)
1 hour ago, nauseus said:

Looks like we all need to be subscribers to read it matey.

Sorry for that... can't copy and paste... the letter is too long... 

 

Here is another interesting article, no subscription required... 

 

https://mises.org/wire/gold-prices-show-theres-big-short-going-official-currencies

 

Edited by Brunolem
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Posted (edited)
On 8/13/2020 at 6:54 PM, Brunolem said:

When  go to Bucks to purchase an Ice Koffie with my "gold coins" how do I pay?

Scratch off a filling from the side with a knife? Will they staff weigh it on a gram scale? What is the exchange rate?As I understand Starbuckss only accepts so-called fiat currency.

Edited by Captain Monday
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Posted (edited)
6 minutes ago, Bill97 said:

You may just win the contest for making the stupidest post of the month.  Congratulations.

No really. If so called fiat currency is so bad why is it  the only thing accepted via cash or credit cards? Why won't anybody accept gold coins or shavings thereof for daily commerce? Pretend i'm a complete idiot and explain it clearly. No more thinly veiled insults please.

Edited by Captain Monday

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15 minutes ago, Captain Monday said:

No really. If so called fiat currency is so bad why is it  the only thing accepted via cash or credit cards? Why won't anybody accept gold coins or shavings thereof for daily commerce? Pretend i'm a complete idiot and explain it clearly. No more thinly veiled insults please.

Sorry I do not deal with complete idiots. See a psychologist.  
 

In the meantime consider convenience.

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Never sell when the media tells you to sell, and of you don't need to sell, don't sell, it means it's gonna go up more. Watch this space.

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45 minutes ago, Captain Monday said:

No really. If so called fiat currency is so bad why is it  the only thing accepted via cash or credit cards? Why won't anybody accept gold coins or shavings thereof for daily commerce? 

Do some research... 

 

Paper currencies are not "bad", but they are always abused by their masters, and thus lose value/purchasing value. 

 

Think of gold as the money of reference, against which the value of currencies is measured, and regularly adjusted. 

 

And by the way, I will gladly accept gold coins if you can't get rid of them at your local Starbuck... 

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5 hours ago, Captain Monday said:

No really. If so called fiat currency is so bad why is it  the only thing accepted via cash or credit cards? Why won't anybody accept gold coins or shavings thereof for daily commerce? Pretend i'm a complete idiot and explain it clearly. No more thinly veiled insults please.

Why do most stores only accept cash or credit cards? It's easier for them. The average business doesn't want to have to hedge against movement in the gold price versus local currency. However, from time to time we have seen some U.S. businesses accept payment in pre-1964 (90%) silver coins at melt value. In 2011, Donald Trump accepted gold instead of dollars for a lease payment from one of his tenants. There are many other examples.   https://www.foxbusiness.com/markets/trump-accepts-gold-instead-of-dollars-from-tenant 

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Posted (edited)
On 8/9/2020 at 2:04 PM, Brunolem said:

In the early 70s Henry Kissinger went to Saudi Arabia and made a deal: in exchange for US protection, Saudi Arabia, and by extension all its oil cartel neighbors, would sell their oil only in dollars.

 

It has worked quite well for both sides, since the Gulf feudal regimes are still in place, and the dollar is still the currency of reference.

 

Those who tried to sell their oil in other currencies are either not here anymore, Saddam and Gaddafi, or under tremendous pressure, like Iran or Venezuela.

 

The US is acting exactly like the mafia, on a much larger scale, using protection racket to keep under its control vast areas of the world.

 

The dollar is the world reserve currency because, beyond oil, many other commodities, starting with gold, are bought and sold using dollars.

 

Think that even Alibaba, a Chinese corporation selling Chinese products, charges its customers in USD, not in Yuans.

 

Wrong, the US produces more oil then it consumes, Iraq war was for the purpose of re-establishing ancient borders,  why would you invade Iraq when you can just seize their oil shipments?  Gaddafi was removed to establish the trafficking route of sh%t tins of Africans into Europe.  Do you also think Afghanistan is about saving the Afghan people?

Edited by Heppinger

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Moved to the appropriate forum

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14 hours ago, Heppinger said:

Wrong, the US produces more oil then it consumes, Iraq war was for the purpose of re-establishing ancient borders,  why would you invade Iraq when you can just seize their oil shipments?  Gaddafi was removed to establish the trafficking route of sh%t tins of Africans into Europe.  Do you also think Afghanistan is about saving the Afghan people?

Not wrong, these are well documented facts.

 

In 2003, the US was not producing that much oil, and anyway I didn't write that oil was the purpose of the invasion, but the dollar, or rather the petrodollar.

 

The petrodollar is crucial for the US, whose currency otherwise would quickly become worthless.

 

As for Gaddafi, he was removed because he wanted to set a single currency for Africa, a dinar backed by gold.

 

Sarkozy was the first to react, since many African countries use the Franc, controlled by France.

 

He convinced Obama and Hillary, then NATO, to join him in his monetary fight.

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