Re: OT: Buying Gold

Posted by kyhayman on December 21, 2011 at 17:00:39 from (99.197.64.56):

In Reply to: OT: Buying Gold posted by George Marsh on December 21, 2011 at 09:17:35:

I try to always do the contrary to what everyone else is doing. To me, now is the peak or up side of the gold cycle. Hence, its time to sell gold, not buy. What does it matter if the greenback becomes worthless? If it does I dont expect gold to be worth any more. Its hard to store, hard to trade, and easy to steal. All the doom and gloom sayers may be right and the end of the world is near, if it is and the dollar fails so will the rest of the worlds economies. Not sure I want to live through the dark ages any how.

Now, as to your question on investments. I dont have any positions in gold. If I did, as a hedge against a new dark age I sure wouldnt have anything other than the physical metal, locked up where I knew where it was and could get to it. I actually told a little lie, I do have a hand full of gold coins locked up in the safety deposit box. Mostly family heirlooms but a few Krugerrands I picked up at a sale.

Personally, I'd a lot rather invest in crude oil. Its a lot more useful.

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