Gold at $1,000 on Weak Dollar

[weswelker#83]

Gold futures hit $1,000 an ounce for the first time on news that the dollar ain't worth the oil it's printed for

http://breakingnews.nypost.com/dynam...P&SECTION=HOME

[maverick4]

i was calling out the collapsing dollar since i became a member here, in fact it was my first post on the political forum.
i think it's obvious to most now, that the us is screwed for the next few (or many) years. pumping 200b into the system was the worst thing bernake could have done. we are going to have another great depression within the next 3 yrs. i do not envy whatever scapegoat will become president in november.

[otis p. driftwood]

So, you're completely overlooking a couple of factors here.
1. Gold isn't the highest it's been when adjusted for inflation. It's got a loooong way to go to reach that high.
2. The rising wealth of China--and India. In China, gold is a status symbol. As people become wealthier--and they are--they acquire more gold as a way of demonstrating their wealth.

The trick is to actually read news stories, not rehashed sensationalism from tabloid reporters.

And there's not going to be another great depression, not in three years, not ever. Good grief.

[mcgraw_wv]

Originally Posted by maverick4

i was calling out the collapsing dollar since i became a member here, in fact it was my first post on the political forum.
i think it's obvious to most now, that the us is screwed for the next few (or many) years. pumping 200b into the system was the worst thing bernake could have done. we are going to have another great depression within the next 3 yrs. i do not envy whatever scapegoat will become president in november.

I am only going to be impressed by your vision if you took the ultimate leap and bought Gold when it was at 500.00 oz...

I have basically pulled out most of my efforts out of the stock market, It's time for me to invest like a banker, with lendingclub.com. Anyone hear fo this? Basically you loan people money at an interest rate that it much higher than CD rates, and and any savings rate, and the peopel borrowing money gets a better interst rate than a bank loan.

I know 11% return isn't as "great" as some stock and market returns, but it's a solid return with only the risk of people defaulting... but you can spread your money around and only fund 50.00 or even less per loan to spread your risk.

The market is simply lost it's foundation I believe, and I do not forsee any long term growth, or stability... the selling highs and lows are here to stay, we are seeing way to many wild swings, there is no long term investment in the market right now IMO...

[otis p. driftwood]

Originally Posted by mcgraw_wv

I am only going to be impressed by your vision if you took the ultimate leap and bought Gold when it was at 500.00 oz...

I have basically pulled out most of my efforts out of the stock market, It's time for me to invest like a banker, with lendingclub.com. Anyone hear fo this? Basically you loan people money at an interest rate that it much higher than CD rates, and and any savings rate, and the peopel borrowing money gets a better interst rate than a bank loan.

I know 11% return isn't as "great" as some stock and market returns, but it's a solid return with only the risk of people defaulting... but you can spread your money around and only fund 50.00 or even less per loan to spread your risk.

The market is simply lost it's foundation I believe, and I do not forsee any long term growth, or stability... the selling highs and lows are here to stay, we are seeing way to many wild swings, there is no long term investment in the market right now IMO...

There's also prosper.com for that.

But the market is fine. This is a good time to invest, as long as you invest smartly. My friends laugh at my portfolio...because I'm long in solid consumer goods and shipping, and refuse to take foolish gambles, but really...this is an election year. Of course the media is reporting that the economy is horrible. They do it every 4 years.