Having been an avid numismatist in my youth, any gold "position" I might ever hold would likely be in smallish denominations like half or quarter eagles ($5 or $2 1/2 gold pieces), old British sovereigns and the like, bought at close to or at the "melt price"...just to be able to look at them now and then. Shares or even ingots just aren't as sexy to me. With that said, I expect that if things ever got so bad that the dollar is worth exactly the paper it's printed on and we're fighting with dogs for food in the streets, the REALLY smart investment will have been in can openers. Those'll be going for two or three Krugerrands a pop for a nice shiny Ebco, and a crate of Dinty Moore Beef Stew? Well, that would make you King of the 12th Street Subway Station or whatever other hole you can keep the packs of wild mutts and raiders out of.
While on the subject of gold-buggery, I wonder if Glenn Beck has been assaulted by any of his once faithful flock who were delusional enough to follow his catastrophic advice with an "all in" Gold position at its high water mark, just to watch much of that relative value vaporize. I expect he must have to wear a bag or something over his face on the street. If he shows up at the 12th Street Station, I imagine we'd smear him with some Dinty and push him out to keep those dogs busy while we hit the CVS for canned goods and maybe mixed nuts. Oh please let there be cashews!
"macromny@lycos.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com> wrote:
>Unlike most here, I am a believer in holding physical gold and silver. In today's world of out of control spending and debt, having a percentage of my savings in something solid, off the grid, with no counter party risk, is a very prudent investment. Every ounce of gold and silver I've acquired since 1999 is still an ounce today. And will continue to be an ounce that has value in any country on earth. I can think of numerous examples of company shares that have become worthless since I bought my first ounce in 1999. Any investment in paper shares of gold (think GLD) have the same risk as investments in the market. I don't believe there is a market more manipulated and controlled than the paper silver and gold market. If you don't hold it, you don't own it.
>
>All that being said, I would not reduce my TSP investments to redirect funds into gold through a broker. How about saving a little each pay period and investing in an ounce of gold every few months. Gold in hand is a more secure savings account than money in the bank. And it doesn't come with monthly expenses or the threat of a buy-in, ah-la Cyprus.
>
>Gold is more than an investment, its insurance or a hedge in unstable economic times. I cannot think of a time where things were more unsure/unstable?
>
>IMHO
Posted by: Bill Connelly <oldbuoy@comcast.net>
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