Comments on: With The Gold Price Nearing $1000/oz., Is It A Good Time To Buy Gold?

By: Chris Jordan

Chris Jordan — Thu, 17 Sep 2009 22:24:59 +0000

Yes, it’s 65% of the world economy that is dictated by the U.S. China and Brazil are still considered “third world” or “developing” countries and the truth is, they have already been hijacked by the Rockefeller’s and Rothschild’s because their corrupt governments soldout their natural resources to mega corporations in the U.S. to borrow money at huge interest that the South American governments have thrown onto the backs of their donkey slave citizens as taxes while the average citizen make $10,000.00/year.

I define “Wall Street” as those publicly traded companies that have CEO’s who take over companies and overleverage themselves and then get bailed out with phantom money that they have their friends at the U.S. Federal Reserve print off for their ponzi schemes (while paying themselves millions per year off the top).

You’re right about China, soon they won’t be doing business outside as much, which means that there will be even less that they will be needing from North America. Couple that with the fact that the average worker in China gets treated like a Donkey Slave (15,000.00/year wages), as well, and you will have the massive economic decline of Western Civilization as we know it.

Conclusion? Where can people invest? Gold/Silver for now, emerging markets in five to ten years (if society still exists).

By: MoneyEnergy

MoneyEnergy — Tue, 15 Sep 2009 19:21:58 +0000

@Chris – I would want to check on that 65% statistic, it doesn’t sound realistic. And need to define “Wall Street” – I disagree that the rest of the world economy would collapse too. Countries like China and Brazil (Canada to a lesser extent) are wising up and diversifying their trade. The US is no longer Japan’s main export destination, it’s China. And China is investing and buying direct from places in Africa and Brazil. Soon China will be its own source of aluminum, steel, oil and I heard it became the world’s largest producer of gold, this year, too (need to verify that one).

By: Chris Jordan

Chris Jordan — Tue, 15 Sep 2009 17:43:47 +0000

People need to ask themselves when the U.S. is currently 50 trillion dollars in debt and that Obama just announced that he’s giving all authority to the Federal Reserve Bank of the United States to get them out of the mess (which is run by a private cartel of scoundrels who aren’t even elected) what is going to happen? The FED caused this mess in the first place with their derivatives, overleveraging and paying off greedy CEO’s. 65% of the world economy is still dependent on Wall Street. When Wall Street collapses, the U.S. dollar collapses with it. When that happens, the rest of the world won’t be far behind. If we move to a new currency, what happens in the interim? People will flee to buy gold (just like China and Russia already have).

By: Sunny

Sunny — Tue, 15 Sep 2009 05:32:28 +0000

This is getting interesting! So you think that the price of gold can increase even more? For me, it’s a bit of the opposite, because now that the economy is getting better, price of gold will decrease. Or am I right? lol I just can’t wait to see what will happen. Just to see, because to invest, I don’t have any money to invest in gold right now… Fantastic post! I Twitt it on Twitter under myfirst50000 I think Saturday.

By: MoneyEnergy

MoneyEnergy — Sun, 13 Sep 2009 16:07:07 +0000

@Joe – I wish my portfolio were at 100k already. If I had had 5k in gold that ran up to 15k recently, I’d probably sell 8k or so – leave the extra bit in in case the run goes up further. It would be rare to get that much of a solid rise in gold so soon, so I’d want to take advantage of it. It would depend on the overall conditions. If it seemed like the cause was more of a real threat of world economic collapse, maybe I would hang onto all that gold and even buy more. Right now, I think several things are coming together to push gold up.

By: JoeTaxpayer

JoeTaxpayer — Sun, 13 Sep 2009 02:09:09 +0000

“I’d like to work towards having 5% of my portfolio in gold at all times.”
Does this imply that if you had a total portfolio of say $100,000, the $5000 would be in gold? And with the run up, if it’s now worth $15,000, you’d sell $10K worth? This strategy will at least keep you from buying high, selling low.

By: MoneyEnergy

MoneyEnergy — Sun, 13 Sep 2009 01:50:31 +0000

Thanks Sunny. One interesting thing to note is that my TD Precious Metals fund has barely moved up at all, despite the surge in bullion. That’s one of the unfortunate consequences of investing in gold equities, I guess. Don’t always move together with the bullion prices. I won’t be buying bullion at these levels, but will wait for a pullback and will consider GLD, probably. I will be purchasing some individual equities over time, though, too.

@SimpleLlama – I agree, the feeling of the physical gold would be nice:) I used to own bullion through GoldMoney, but even there, it was real, just not in my hands:) I’d like to work towards having 5% of my portfolio in gold at all times.

By: Sunny

Sunny — Sat, 12 Sep 2009 21:46:44 +0000

At this point, gold is too expensive for me. I won’t buy when gold value is so high. Its seem like gold being seen like a good investment in recession. The value of Sprott mutual fund – Gold and precious metals had increased after loosing value a couple of months ago. It was time to buy gold at that time, but not now, unless you more than just a small investor. Like your post.

By: Simple Llama

Simple Llama — Tue, 08 Sep 2009 02:42:36 +0000

Gold stocks, or gold ETF’s can be a good choice to get in on the positive side of gold. However, they do miss out on one of the biggest positive aspects of gold – actually owning the gold, holding it in your hand.

With the ETF / stock, you get a piece of a paper ( these days, just some electrons on a screen ) that say you own XYZ. That’s all well and good.. but physical gold in the hand can be useful in the event of a currency collapse / widespread Internet shutdown / whatever other crazy scenario you can think of. Unlikely? You bet. But it’s still something to consider.

Gold isn’t magical… but there are a lot of great reasons to own at least *some* gold.

By: MoneyEnergy

MoneyEnergy — Fri, 04 Sep 2009 21:32:33 +0000

@Len – $1000 seems like a lot for a little ounce – but if they’re right and it goes up to $2000 in two weeks, you do the math! Today’s action doesn’t look like any panic buying has set in, yet, though. We came off the $996 high.

@MinorityFortune – it’s definitely not ideal to be buying when everyone else is! I think it was Jim Cramer who said that you’ll know we’re in a bear market when it hits the front page of the NYT and the VIX is higher than 40….. well, same with gold. When everyone’s talking about it, it may be too late to buy.