Rate Cut = Gold Up

[TaiwanGuy]

the funny thing is that the dollar index fell 0.58% and the dow was only up 0.29% today. so it actually depreciated in value. its all smoke and mirrors folks.

 

[MusoSpuso]

Gold up = value of $ down

It just means you are treading water, keeping up with inflation

If you bought maybe five years ago you have outpaced inflation and have made money, but if you bought within past year, nope

Buy silver!

 

[extrmmxer]

Buy silver!

Good call. As gold reaches record highs people will look to a more affordable investment, Silver. This will help silver close the gap on gold.

 

[londontexas]

the funny thing is that the dollar index fell 0.58% and the dow was only up 0.29% today. so it actually depreciated in value. its all smoke and mirrors folks.

Well the dow is now down (about 40 points) for the day.

So I guess Ben will have to cut rates again in the morning. ;-)
3 points to go! (The bottom is zero)


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Again, my tribute to the fed (from 80 years ago):

http://www.youtube.com/watch?v=iD3_ptNEFQQ

 

[Cleaner44]

 

[Cleaner44]

 

[TaiwanGuy]

Well the dow is now down (about 40 points) for the day.

So I guess Ben will have to cut rates again in the morning. ;-)
3 points to go! (The bottom is zero)

holy crap that was fast! i swear 10 minutes before i posted that the dow was up 0.29%, now its down 0.30%.

thats not a gigantic swing, but even i (knowing that the economy is about to collapse) would not have imagined a drop on the day of the rate cut. BAD NEWS FOR AMERICA! i am glad im in asia.

 

[robert4rp08]

So glad I started buying gold/silver. My only regret is that I didn't start 10 years ago.

 

[ToryNotion]

I heard a commentator on NPR I think it was say that the Fed cut interest rates last week and the economy improved. That tells me that he thought Dow Jones Industrial Average = economy.

 

[extrmmxer]

So glad I started buying gold/silver. My only regret is that I didn't start 10 years ago.

No need to regret. Quote me on this "you just saved your family from poverty" Everyone should have gold/silver and it doesn't matter when you start so long that you do start. We are in for a new currency. This is the "New Era" Ron Paul speaks about.

 

[Caravello]

Buy silver!

Already own a bunch. I have been collecting gold and silver since I was 9 years old!!!!!

I have pounds of silver!!! I think my stash is about 200 pounds right now. Takes up a big box in my closet. Isn't that cool!!! And when I get bored I pour it all on my bed and just stare at it!

I only own a few gold bars however (1 ouncers). The gold I own is mostly through certificate.

EDIT: The gold I own is mostly through my family; I barely own any right now personally. I have three 1-ounce bars and various coins. My dad owns a lot through certificates.

 

[MusoSpuso]

Already own a bunch. I have been collecting gold and silver since I was 9 years old!!!!!

I have pounds of silver!!! I think my stash is about 200 pounds right now. Takes up a big box in my closet. Isn't that cool!!! And when I get bored I pour it all on my bed and just stare at it!

I only own a few gold bars however (1 ouncers). The gold I own is mostly through certificate.

Sweet!

Yeah, I just started. Problem is I live in California so when I buy silver I either have to pay exorbitant shipping fees or sales tax

At the end of the day I end up with huge premiums over spot. Sucks bawls. Excuse my french.

EDIT: Trade those certs in and get that gold in your closet! In times like these, if it isn't with you physically, it ain't yours

 

[runderwo]

Are you saying the dollar that was in my wallet just magically depreciated?

No, not yet. It still has its value, if you spend it now! Hurry up and spend it! Go on, spend! Buy something! Don't save, we punish savers, buy buy buy!

 

[bp2519]

Gold up = value of $ down

It just means you are treading water, keeping up with inflation

If you bought maybe five years ago you have outpaced inflation and have made money, but if you bought within past year, nope

that's wrong - actual inflation last year was about 10-11%. price of gold up over 30-40%

 

[Caravello]

Sweet!

Yeah, I just started. Problem is I live in California so when I buy silver I either have to pay exorbitant shipping fees or sales tax

At the end of the day I end up with huge premiums over spot. Sucks bawls. Excuse my french.

EDIT: Trade those certs in and get that gold in your closet! In times like these, if it isn't with you physically, it ain't yours

I live in Cali too. But I got started as a kid in Florida. My grandfather and brother got me started collecting coins as a kid, and when silver and gold were shooting up in the early 1980's I started buying 1-ounce pieces of silver. Then as I got older I just kept buying. I bought a pretty big chunk about five years ago in California at a coin shop; he had a whole bunch of 1-ounce pieces and I took the whole box, around 10 pounds. Then he was able to get a few more boxes. That's all I do. I just buy pieces here and there, and my grandfather gave me and my brother his stash when he died.

All you have to do is just buy pieces here and there, go to coin shops, etc. It's pretty fun, and the fees at coin shops are not huge. I ordered some silver coins from magazines many years ago too.

You just have to make it a hobby. And before long, you have a whole box of it like I have.