Riding the Gold train! Next stop $1100

[#1]

For all you gold lovers, climb on board the gold train I think this is the ride of lifetime The signs are all there for the gold to become a currency 6 month prediction $1400

[KPnewbie]

Almost there VALUE CHANGE % CHANGE Gold 1,090.60 5.70 0.53 ...Bloomberg

[jack12]

I dont trade gold but came across this article, might be of interest to someone, http://seekingalpha.com/article/170475-gold-is-not-in-a-bull-market?source=article_sb_popular

[SimonPB]

gold can't be a currency .. it has the same real value as paper currency .. only worth what somebody will pay .. a bear skin, now that could be a currency .. or water .. or bullets ..

[#5]

The fundmentals of gold are changing and it can be a currency. A currency is a common unit of exchange. The USD as an example has been the worlds tradable currency. The problem with this is that the currency that the world is trading is subject to internal (US) fundamentals changing - Collapse of a banking system etc. What could be more constant than to price a world currency using a commodity like gold which is not subject to internally domicilied country fundamdentals?

[SimonPB]

hmmm .. many thorts .. but here are two to start with .. what "Collapse of a banking system" ??
and isn't the logic behind replacing paper currency rather that we change to soemthing real that has real value, not perceived value ..

[#7]

What could be more back breaking than carrying around physical gold in your wallet or make that back pack? Paper/Paperless (plastic debit cards) much better. Gold limited in supply. Paper unlimited (just a number in a computer - ask the feds's they can proove it ;-) ). Gold nice to speculate on but actual physical holding/trading as a currency...no thanks

[Vano]

That is the point, there is a limitless supply of paper money via the printing press. The rule of supply and demand renders paper money worthless. Not so gold, which cannot be counterfeited with a printing press.

[john_1]

Vano if I offered you a suitcase full of paper money (100 dollar bills) would you turn me down because it is worthless....

[#10]

I wanna see you carry a suitcase full of gold also, Paper might be limited in a sense (can grow more trees but takes time), gold is way expensive to produce and even more expensive to store. Paperless digital transactions better. No resources, no wastage (hats if we can solve the energy risis to keep the digitals running). Anyway never said I dont like gold but to use it as a currency, would that not just invite hoarding and maniplulation of the system and the holders might not be so keen to let go?

Might not be-able to replicate in a printing press but much iron pyrite (fools gold) exisits to con the public and a good quality gold paint on lead subsrate will also fool many a man.

[SimonPB]

sure can't be counterfeited .. but core issue remains .. has no real value .. only what people will pay .. and then anyways the rich people will be central banks and g@d forbid - the gold miners .. they can just pull it out of the ground to pay debt, same as what the US does with its printing press ..

[SimonPB]

thing is .. buy gold because it is goign up .. but not because of some crazy idea around fake money etc .. that is not why it is rising .. it is rising because of momentum ..

[Vano]

No, I would not turn down the dollars, I would not reject a gift of gold bullion either....We all need money. The point I am trying to make, is that paper money is prone to destruction via inflation, which makes gold a better store of value in troubled times. By all accounts, some serious troubled times are ahead, due to the massive increase in the supply of paper money

[#14]

The irony is that the origin of currency is gold/commodity based and due to the fact that people couldnt or didnt want to carry gold around to barter with and the bank stored the gold and offered a promisory note to pay the bearer of the promisory note the amount of gold on demand So what is so crazy to have a currency backed by something of perceived value? Lots of lessons of history can repeat itself!

[john_1]

DUDE YOU ARE TALKING *****>>> gold was $900 in 1980 today we are getting excited because its nearly 1100 that a rise of $200 dollars in 30 years...keeping pace with inflation my ass.

[john_1]

its based on the value of a big Mac..ever heard of the big mac index.

[john_1]

If you had bought $900 dollars of chappies in 1980 you would be better off than if you had held gold for that time.. and you can trade chappies..3000000 sell every day in SA.

[#18]

Good value for money, tastes real sh*t in some countries though. Over all not good for you in excess but then again so are most things...even to many veggies will kill you over time. But Great point to the gold bugs...Like Simon said water, bullets or even LOL, bear skins, could be currency.

Hey Eskimos use seal fur to trade so why not....

[Vano]

I said gold is a better store of value in TROUBLED times. We have just finished a period of unprecedented prosperity. I believe the paper currencies of the world will soon lose much of it's value due to the increase in money printing. Compare two Zimbabweans, each had 1000 zim dollars twenty years ago. One bought gold, the other kept his paper money. Who is currently better off?

[john_1]

that is were the term Bear Trader comes from...the guy would sell bear skins then go kill the animals...