buying gold...

[yorkcountykid]

If you want to invest in gold I'd suggest you consider the streetTRACKS Gold Shares Exchange Traded Fund instead (symbol: GLD). It gives you pure exposure to the price of gold, and is much cheaper and quicker to buy (you order through a stockbroker, just like a regular stock.

[yorkcountykid]

What are the government regulations regarding the purchase, sale or storage of bullion? What are my IRS/CRA reporting obligations?
A: We are not required to report any purchases or sales in Canada unless you purchase $10,000 or more and pay by cash. In this case we are required to complete a Cash Declaration Form that provides information on the source of the funds

[sid]

Do you think that buying gold at this time will "pan out"? I'm glad I bought some 2 years ago, when some were saying that gold would hit $1000 per oz. and others were saying that it could never go that high.

[yorkcountykid]

Reasons to say NO to Gold

Gold doesn't pay income or interest.
Except for the last five years, gold has been in a bear market after a peak in 1980.
Central banks have tons of bullion which they occasionally threaten to sell.
If you don't count the last five years, gold stocks have not done well.
Since gold funds have made big moves over the past five years, it's time for them to drop back.
Your broker probably won't recommend gold funds.
Reasons to say YES to Gold

The dollar is weak and getting weaker due to national economic policies which don't appear to have an end.
Gold price appreciation makes up for lost interest, especially in a bull market.
The last four years are the beginning of a major bull move similar to the 70's when gold moved from $38 to over $800.
Central banks in several countries have stated their intent to increase their gold holdings instead of selling.
All gold funds are in a long term uptrend with bullion, most recently setting new all-time highs.
The trend of commodity prices to increase is relative to gold price increases.
Worldwide gold production is not matching consumption. The price will go up with demand.
Most gold consumption is done in India and China and their demand is increasing with their increase in national wealth.
Several gold funds reached all-time highs in 2007 and are still trending upward.
The short position held by hedged gold funds is being methodically reduced.
U.S. government economic policies over the past decade have systematically projected the U.S. economy down a road with uncontrollable federal spending and an uncontrollably increasing trade deficits. Both will cause the dollar to lose in international value and will increase the price of alternative investments, such as gold.
With the recent devaluation of many international currencies, the U.S. dollar was the international safe haven of last resort. We are seeing signs of this ending due to many financial factors, the most important one being a falling dollar.
There are over One Trillion dollars ($1,500,000,000,000) of U.S. debt owned by foreigners which could be repatriated under certain conditions. This could cause a major decline in the value of the dollar and a soaring gold price.
If you believe in 'buy low, sell high', gold is still low, but climbing.

[sid]

Interesting post. The charts on GLD ETF bumped along around 650 until Sept 07, when it started climbing steadily, up 50% in 4 months. They also show a fair bit of profit taking right now.

[yorkcountykid]

sid, some think the silent movers and shakers are purposely pushing the dollar down which drives gold up. this could be to drive the world into war by replacing the dollar with the euro which seems to be happening. it is a controversial subject when it hits home. i'm betting on a forced war by the unknown big guys who run this world. i do not know exactly why they would do this, however, gold could easily reach 3000 an ounce and i'm putting my money where my mouth is.

[HomoDave]

LOL

[yorkcountykid]

Since its low in 1999, the price of gold bullion is up about 250%. By comparison, the American Stock Exchange index of gold stocks is up 1235% in the same bull market phase! That's profit-boosting leverage of better than 4-to-1... financial rocket

[HomoDave]

quote:Originally posted by yorkcountykid

the silent movers and shakers are purposely pushing the dollar down

Yah its an Irish-German guy named Bob lives in Cleveland and his Luthuanian brother-in-law from Sandusky ...

[yorkcountykid]

IF THIS IS TOO MUCH READING, JUST READ THE PART BETWEEN THE TWO UNHAPPY FACES. THIS VIEW OF ESCALATING WAR--ATTACKING IRAQ AND NEXT IRAN--WILL INCREASE BEFORE THE BUSH ADMINISTRATION COMES TO AN END AND WILL DRIVE UP GOLD PRICES WHETHER FURTHER WAR ENSUES OR NOT. THIS IS NOT MY PERSONAL OPINION, IT IS THE OPINION OF MANY INVESTORS AND FOREIGN GOV'TS. I'M JUST POSTING A TONED DOWN, DIPLOMATIC CHOICE OF WORDS BY WILLIAM R. CLARK, AUTHOR OF 'PETRODOLLAR WARFARE'.-----------
  Despite the U.S. media reporting otherwise, the current wave of global anti-Americanism is not against the American people or against American values  but against the hypocrisy of militant American Imperialism. The foreign polices of the neoconservatives may be creating the regrettable emergence of a possible European-Russian-Chinese alliance in an effort to counter American Imperialism. It appears that the structural imbalances in the U.S. economy, along with the Bush administration's flawed tax, economic, and most principally their overtly imperialist foreign polices could result in the dollar's reserve currency status and/or oil transaction currency status being placed in jeopardy or at the very least significantly diminished over the next 1-2 years. In the event that my hypothesis materializes, the U.S. economy will require restructuring in some manner to account for the reduction of either of these two pivotal advantages.

What is needed is a multilateral meeting of the G-7 nations to reform the international monetary system.[] Given that future wars will become more likely over oil and the currency of oil, the author advocates that the global monetary system be reformed without delay. This would include the dollar and euro being designated as equal international reserve currencies, and placed within an exchange band along with a dual-OPEC oil transaction currency standard.[] Additionally, the G-7 nations should also explore a future third reserve currency option regarding a yen/yuan bloc for East Asia. A compromise on the euro/oil issues via a multilateral treaty with a gradual phase-in of a dual-OPEC transaction currency standard could minimize economic dislocations within the U.S.

[yorkcountykid]

this is a more indepth explanation of why gold will rise higher and higher. i'm just trying to help us little guys make a few bucks. these are not my beliefs. they are the beliefs of the people who deal in the multibillions of dollars and shape the world.    http://globalresearch.ca/articles/CLA410A.html

[yorkcountykid]

RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."
Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse.
He said he would not "be surprised if giants tumble to their deaths," Celente said.

The Panic of 2008 will lead to a lower U.S. standard of living, he said.

A result will be a drop in holiday spending a year from now, followed by a permanent end of the "retail holiday frenzy" that has driven the U.S. economy since the 1940s, he said.

[yorkcountykid]

Larry Edelson writes: I'm going to say it again  if you're not in the gold market, you're making a huge mistake.
Reason: Gold is the ultimate asset. It is the purest form of money, and the oldest, most durable wealth-preserving asset on the planet.
Governments can't debase it. It has no debts  no board of directors  no politicians or central bankers that can mess with its value. That's why gold has survived every economy history has ever witnessed, and preserved investors' purchasing power over a span of some 5,000 years.
 And if you think gold is expensive right now at about $740 an ounce, think again. My longer-term target for gold is more than $2,100 an ounce

[yorkcountykid]

Always Keep Some Physical Gold. But for Larger Quantities Consider These Two Choices  
Sometimes storage is impractical, especially when you're holding large amounts of metal. Fortunately, there are a number of ways to invest in gold while avoiding some of the hassles of storage and delivery  
#1. Exchange-Traded Gold Funds (ETFs). My favorite is the streetTracks Gold Trust (GLD), which effectively offers investors physical gold in the format of an electronically-traded security, with each share representing one-tenth of an ounce of gold.
Two other choices are the iShares Comex Gold Trust (IAU) and the Central Fund of Canada, Ltd (CEF). However, among the three, I prefer the streetTracks Gold Trust because of its greater liquidity.
#2. Perth Mint Certificates (PMCs). These are issued by Western Australia's government-owned mint, and they give you title to a specified number of ounces of gold.

[yorkcountykid]

GOLD'S POTENTIAL - WHY YOU SHOULD BUY GOLD NOW ACCORDING TO HEIM
Lawrence H. Heim is the President of U.S. Gold & Silver Investments, Inc. and has been called a top expert on gold in the world. In the 1970.s he published three Breakout reports in which he predicted upside moves for gold. Each time he put out a report, the price of gold moved sharply higher, following the dotted line that he put on a chart. Heim also tells clients when to sell gold, and in 1975 the when the Wall Street Journal carried his sell signal on gold and gold shares, it turned out to be the exact day of the top in the South African gold shares. The gold shares went down as much as 90% (in some cases) in the months that followed. Just think of how important it was to have this advice to get out and avoid as much as a 90% loss. It is also interesting that Heim first told clients to buy gold and gold shares in 1970, the last time gold was at $35 per ounce. Gold eventually went to $850 per ounce in January of 1980. That was a gain in price of 2400% or 24 times your money. (Note: This time around Heim is recommending that you use only gold and silver bullion coins and bullion bars, not gold or silver shares. Call U.S. Gold & Silver at 800-631-8292 and find out why he made the change.)
Now the prediction of Lawrence H. Heim is that gold is just starting a new long-term bull market. Heim says that based on facts and his simple calculations (no guesswork involved) gold will rise to $3,400.00 per ounce over the next few years. That is a potential gain of about 400% (about four times the current gold price of about $881.00 per ounce).

[neptune]

I like yck's "cut and paste" intellectual discussion

[HomoDave]

so what did you expect from a f***tard?

[HomoDave]

i wonder if anybody bothered reading any of it?
prob not, i know i didn't
HA HA HA

[yorkcountykid]

dave, you are a first class asshole. i think you are just angry and envious that i have the bucks to invest and i have the looks. sure some finicky gals do not care for my blonde look and style, but they still call me.  i never ask if it is b/c i'm ok in bed or just b/c i'm not a phony as guys like you are. i really do not care. in a way, i pity you dave; and, in a way i don't--you simple man.

[HomoDave]

blow it out your ass, f***tard

[yorkcountykid]

In the following paragraphs, you'll discover five ways to invest in gold. Based on your level of market experience and familiarity with products, one of these will be appropriate for you.

Direct ownership. There is nothing like gold bullion, the ultimate expression of pure value. Historically, many civilizations have recognized the permanence of gold's value. For example, Egyptian civilizations buried vast amounts of gold with deceased pharaohs in the belief that they would be able to use it in the afterlife. Great wars were fought, among other reasons, to pillage stores of gold. Why the allure? The answer: Gold is the only real money, and its value cannot be changed or controlled by government fiat-the underlying reason for governments to go off the gold standard, unfortunately.Gold's value will rise based on the pure forces of supply and demand, no matter what Mr. Greenspan decrees regarding interest rates or greenbacks in circulation. The big disadvantage to owning gold is that it tends to trade with a wide spread between bid and ask prices. So don't expect to turn a fast profit. You'll buy at retail and sell at wholesale, so you'll need a big price jump just to break even. However, you should not view gold as a speculative asset, but a defensive asset for holding value. Since your dollars are going to fall in value, gold is the best place to preserve value. The best forms for gold ownership are through minted coins: one-ounce South African Krugerrands, Canadian Maple Leafs, or American Eagles.

Gold exchange-traded funds. The recent explosion in exchange traded funds (ETFs) presents an even more interesting way to invest in gold. An ETF is a type of mutual fund that trades on a stock exchange like an ordinary stock. The ETF's exact portfolio is fixed in advance and does not change. Thus, the two gold ETFs that trade in the United States both hold gold bullion as their one and only asset. You can locate these two ETFs under the symbol "GLD" (for the streetTRACKS Gold Trust) and "IAU" (for the iShares COMEX Gold Trust). Either ETF offers a practical way to hold gold in an investment portfolio.

Gold mutual funds. For people who are hesitant to invest in physical gold, but still desire some exposure to the precious metal, gold mutual funds provide a helpful alternative. These funds hold portfolios of gold stocks-that is, the stocks of companies like Newmont Mining that mine for gold. Newmont is an example of a senior gold stock. A senior is a large, well-capitalized company that has been around several years and has a profitable track record. They tend to own established mines that produce known quantities of gold each year. For many investors, selection of such a company is a more moderate or conservative play (versus picking up cheap shares in fairly young companies).

Junior gold stocks. This level of stock is more speculative. Junior stocks are less likely to own productive mines, and may be exploration plays-with higher potential profits but also with greater risk of loss. Capitalization is likely to be smaller than capitalization of the senior gold stocks. This range of investments is for investors whose risk tolerance is broader, and who accept the possibility of gold-based losses in exchange for the potential for triple-digit gains.

Gold options and futures. For the more sophisticated and experienced investor, options allow you to speculate in gold prices. But in the options market, you can speculate on price movements in either direction. If you buy a call, you are hoping prices will rise. A call fixes the purchase price so the higher that price goes, the greater the margin between your fixed option price and current market price. When you buy a put, you expect the price to fall. Buying options is risky, and more people lose than win. In fact, about three-fourths of all options bought expire worthless. The options market is complex and requires experience and understanding. To generalize, options possess two key traits-one bad and one good. The good trait is that they enable an investor to control a large investment with a small, and limited, amount of money. The bad trait is that options expire within a fixed period of time. Thus, for the buyer time is the enemy because as the expiration date gets closer, an option's "time value" disappears. Anyone investing in options needs to understand all of the risks before they spend money. The futures market is far too complex for the vast majority of investors. Even experienced options investors recognize the high risk nature of the futures market. Considering the range of ways to get into the gold market, futures trading is the most complex and, while big fortunes could be made, they can also be lost in an instant.

[HomoDave]

what a retard

[yorkcountykid]

http://www.nma.org/statistics/gold/outlets.asp

[NSgirl]

[][]Are you serious!!!Do you think anyone in their right mind actually read anything you posted![][]
Man do you babble like this to your self at home?

[HomoDave]

LOL