Gold demand has risen to 3,659 tons: WGC

Commodity Online ^ | 02/18/09

[Kozak]

Try to sell bullion to the avergae joe too. Good luck with that. Try to buy groceries with it. Good luck with that too.

Today. Six months into a monetary disaster like hyperinflation, the average Joe will be THRILLED to sell to you for gold. Look at Zimbabwe TODAY...

Gold for Bread

[Kozak]

It’s shiny!

Laugh all you want. I will keep a percentage of my "disaster funds" in Gold, betting that 5,000 years of human nature are unlikely to change soon.

[rhombus]

Ride out the storm. Bail a little if necessary but ride it out. The shares may have declined in value but they are still shares. I am not a financial adviser but have played one on my web cam

Ride out the storm? With only 10 years left to ride? With 4 and probably 8 of those years with the Democrats owning DC? I see plenty more clouds ahead and the riding is going to be rough.

[hosepipe]

What will “they” come first for.. the guns or the gold?..

[Travis T. OJustice]

What will “they” come first for.. the guns or the gold?..

It's far easier to get the gold after they get the guns.

[TigerLikesRooster]

Not sure about exact order. I do suspect that they will come after both approximately at the same time. Guns and gold are threat to the ‘current regime.’

[RC one]

We are not Zimbabwe and we are not hyperinfalted Germany in 1929. Such ideas are irrational. I don’t disagree that Gold is a good place to be right now if you got in a while ago but I believe that the current prices reflect speculation and panic and that entering at this point entails excessive risk based on my recollection of history. Energy is the lifeblood of an advanced nation. Without it, we die. Gold is just a metal that looks pretty and feels good in your hand. Speculators will take their profits from gold and invest in energy this summer when the business cycle changes. The really big speculators will sell so much gold that they will trigger a sell off and the price will drop and if you miss it, you’ll be stuck with it and you’ll be trying to panic people into buying it so you can recoup your losses later. If it makes you feel better, I did buy some silver bullion though.. because it’s shiy and it felt good in my hand.

[Kozak]

We are not Zimbabwe and we are not hyperinfalted Germany in 1929.

Yet. Now that "trillions" are talked of the way "billions" were 6 months ago, I don't think we have that far to go to reach Weimar. I hold Gold and silver as a reserve disaster fund for my family, secure in the knowledge that come what may, my wife and kids won't starve. You do as you see fit for yours.

[LibLieSlayer]

What is yours... what is your “go to”?

LLS

[LibLieSlayer]

I grow my own.

LLS

[Kozak]

Fine. Do you also have an oil well, a machine shop, practice medicine, dentistry, etc etc etc? If so if you don’t need to ever buy anything, then I guess you really don’t need anything but your pop gun.

[LibLieSlayer]

I have a gas well in the North part of my State... and two close friends that are a Doctor and Dentist. I do have a machine shop and I am somewhat of a Renaissance man. I am also not against buying some gold but to put an inordinate amount of ones worth into a heavy metal is something I do not embrace. I embrace balance and preparation.

LLS

[GOPJ]

Wonder when gold will rise to its real value vs the Obamabuck?

I don't think it can go that high...

[GOPJ]

One can carry an extraordinary amount of AU without attracting notice - that’s part of why it’s been used as money for centuries. Cash weighs more at this point, I’d wager.

Years ago a friend told me about her mother who had escaped some totalitarian country and did it by sewing diamonds into her skirt hem...

[CharacterCounts]

Once Obama makes owning gold illegal, paper gold will be worth $32.00 highly inflated dollars per ounce.

[Kozak]

I embrace balance and preparation.

Me too. Sounds like you are in a better position then most.

[GOPJ]

In a chaotic situation small gold - like wedding bands - work best for barter. Something everyday people recognize and trust.

On a larger more rational level, gold funds and ETFs work just fine.

Great as a hedge against inflation - which will happen when all the money pumped into the system starts "working" and over working and over working some more....

Until then it's deflation. Gold should be deflating along with the other commodities - the fact that it's not tells us something we don't understand is going on.

[woollyone]

They work all day just for a loaf of bread that cannot feed them the nourishment required of their labor.

Revelation 6:6
“Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day's wages, and three quarts of barley for a day's wages, and do not damage the oil and the wine!”

[Kozak]

Gold should be deflating along with the other commodities - the fact that it's not tells us something we don't understand is going on.

The something is a flight to safety by people all over the world who value gold as a store of wealth. Thats why it doesn't react as a pure commodity.

[LibLieSlayer]

I have had a lot of help... thank GOD.

LLS