These gold commercials

[DMaynard]

Aren't they getting a little annoying? Yes, the economy is still bad. Buy gold, blah, blah, blah. The one that kills me is, I think, Goldline. The guy rattles off the advantages of gold and he actually says:

"and the price of gold has never been zero".

Huh???? What??? Of course it has never been zero. We would have to be pooping gold out of our butts for it to be worth zero. What a stupid f#cking thing to say.

[SoFlaJets]

anyone that would put their gold chain in an envelope and mail it away and just trust the thieves on the other end to give them what it's "worth" is an idiot

[Thai Jet]

anyone that would put their gold chain in an envelope and mail it away and just trust the thieves on the other end to give them what it's "worth" is an idiot

Yet the idiots must be doing it for thieves to afford the commercials. I had a bunch of old that I had gotten from my late uncle. I went to several jewlers here who buy gold and finally sold it for $880 . Like everything else , you have to shop around.

[Thai Jet]

Aren't they getting a little annoying? Yes, the economy is still bad. Buy gold, blah, blah, blah. The one that kills me is, I think, Goldline. The guy rattles off the advantages of gold and he actually says:

"and the price of gold has never been zero".

Huh???? What??? Of course it has never been zero. We would have to be pooping gold out of our butts for it to be worth zero. What a stupid f#cking thing to say.

Yup nothing like buying gold near it's peak. It all ends in 2012 so WTF's the difference .

[Jets Voice of Reason]

anyone that would put their gold chain in an envelope and mail it away and just trust the thieves on the other end to give them what it's "worth" is an idiot

Unfortunately, there's a lot of people who get duped by it. It isn't exactly coincidence that the ads started booming when the economy hit the tank. It was the perfect time to buy gold and hold onto it until the economy got better and the price went up.

It makes good economic sense to do what these companies are doing, but the way they go about it is horridly unethical. They vultured the people who desperately needed to sell items to make cash for bills by giving them an absolute scam-level cash in return for the items.

I mean, people are responsible in the sense that they could've easily gotten a better price at a jeweler... but I still feel bad for people who get scammed by these "cash4gold" etc companies.

[Jbro22]

A buddy of mines father owns Coin Galleries of Oysterbay, you may have seen their commercials on SNY and YES. They buy gold, and claims business has been booming ever since the economy tanked.

[SoFlaJets]

wish I knew someone interested in a big and old stamp collection which we got from my father who died in 1982-we have some stuff from as early as the late 17 and 1800's

[bitonti]

gold really isn't an investment strategy. it's a hedge. Like shotguns and cans of beans. You can put your money into gold but it's tough to get it out of gold. It's just something that makes people feel better... but if society degrades to the point where dollars are worthless and gold is the currency, there will be much bigger problems to deal with than the loss of wealth.

[Bruce Banner]

gold really isn't an investment strategy. it's a hedge. Like shotguns and cans of beans. You can put your money into gold but it's tough to get it out of gold. It's just something that makes people feel better... but if society degrades to the point where dollars are worthless and gold is the currency, there will be much bigger problems to deal with than the loss of wealth.

I disagree with this. The production of gold is stable or declining but the market keeps expanding. The main use for gold is jewelry and with 2 billion people in China and India getting richer and richer that market is going to keep expanding. I don't think anyone likes jewelry more than Indian women and Chinese women just like it the normal amount, which is a lot. So the market for it will keep going up. And they keep digging more up out of the ground, but not at an advancing rate. The gold fields in South Africa are running out and the production in the rest of the world isn't expanding fast enough to swamp the market.

[bitonti]

I disagree with this. The production of gold is stable or declining but the market keeps expanding. The main use for gold is jewelry and with 2 billion people in China and India getting richer and richer that market is going to keep expanding. I don't think anyone likes jewelry more than Indian women and Chinese women just like it the normal amount, which is a lot. So the market for it will keep going up. And they keep digging more up out of the ground, but not at an advancing rate. The gold fields in South Africa are running out and the production in the rest of the world isn't expanding fast enough to swamp the market.

if you are joe q public and you buy actual gold, you are basically keeping that gold in a safe or in a tin buried in the backyard, something like that. You aren't selling it to the Chinese for jewelry production. Yes you can do that but no one does. It's "saving" your money but what are you saving it for, is my question.

We either live in a world where the US dollar is great (keep printing it baby) and life is good.. or we live in a world where we bury gold in your floor boards, next to the axe's, flashlights, shotguns and water purifiers. I choose to live in the first world, as delusional as that sounds.

[Larz]

gold really isn't an investment strategy. it's a hedge. Like shotguns and cans of beans. You can put your money into gold but it's tough to get it out of gold. It's just something that makes people feel better... but if society degrades to the point where dollars are worthless and gold is the currency, there will be much bigger problems to deal with than the loss of wealth.

at that point, gold becomes shiny metal that conducts electricity

big whoop

that's when guns, ammo and clean water become king

[Jets Voice of Reason]

gold really isn't an investment strategy. it's a hedge. Like shotguns and cans of beans. You can put your money into gold but it's tough to get it out of gold. It's just something that makes people feel better... but if society degrades to the point where dollars are worthless and gold is the currency, there will be much bigger problems to deal with than the loss of wealth.

Investing in gold is no different than any other investment if you don't know what the hell you are doing...Investing in gold with no intent to cash on it is like buying a stock without ever selling it. All you basically have is an asset that is as worthless as a sheet of paper.

That being said you both are wrong in thinking gold is only useful to jewelers. Gold is a valued commodity if your Currency is weak because of its stability. Gold is useful for more than its practical usage.

[DMaynard]

I disagree with this. The production of gold is stable or declining but the market keeps expanding. The main use for gold is jewelry and with 2 billion people in China and India getting richer and richer that market is going to keep expanding. I don't think anyone likes jewelry more than Indian women and Chinese women just like it the normal amount, which is a lot. So the market for it will keep going up. And they keep digging more up out of the ground, but not at an advancing rate. The gold fields in South Africa are running out and the production in the rest of the world isn't expanding fast enough to swamp the market.

Never dated a Jewish girl, eh?

[Thai Jet]

A buddy of mines father owns Coin Galleries of Oysterbay, you may have seen their commercials on SNY and YES. They buy gold, and claims business has been booming ever since the economy tanked.

People are desperate not to lose their homes.

[Thai Jet]

Never dated a Jewish girl, eh?

[JoeC36]

wish I knew someone interested in a big and old stamp collection which we got from my father who died in 1982-we have some stuff from as early as the late 17 and 1800's

take it to vegas and get on "Pawn Stars"

[The Crusher]

People are desperate not to lose their homes.

I almost kissed the baby on that one. I bought my house 12 years ago on a 15 year fixed mortgage. Three years back I almost sold it for a bigger home. With five kids looking to move from 3200/ foot to about 5,500. Thank God my wife and I looked around and thought NO ****ING WAY are we moving all the shiit in this house. If I made the move rather than having 28 months left to owning my house I would have been in deep doodoo. My mortgage payment would have doubled and being self employed the economy may have done us in. Thank God Im lazy.

[DMaynard]

I almost kissed the baby on that one. I bought my house 12 years ago on a 15 year fixed mortgage. Three years back I almost sold it for a bigger home. With five kids looking to move from 3200/ foot to about 5,500. Thank God my wife and I looked around and thought NO ****ING WAY are we moving all the shiit in this house. If I made the move rather than having 28 months left to owning my house I would have been in deep doodoo. My mortgage payment would have doubled and being self employed the economy may have done us in. Thank God Im lazy.

Baloney. Thou art wise, me lad.

[The Crusher]

Baloney. Thou art wise, me lad.

Thank you. But honestly dude. We both loved the new house and really thought of doing it but after walking thru our house and seeing how much stuff us and the five kids have I told her that I would rather eat small portions then try and move it. I have one that surfs, two that play hockey, two that play lacrosse, 4 play golf, 3 play tennis, and all five of the little darlings ride bikes. My garage alone looks like a damn play it again sports store.

[Sharrow]

That TV **** only pays you like 1/3 of the value if that. I know of a guy that used to be a jewelry salesman, and started buying gold from all the jewelers he went to, who bought gold from all of their customers to sell to him. Dude has made $3+ million since the price started going up, probably off the books.

[StraightCash]

Investing in gold is no different than any other investment if you don't know what the hell you are doing...Investing in gold with no intent to cash on it is like buying a stock without ever selling it. All you basically have is an asset that is as worthless as a sheet of paper.

That being said you both are wrong in thinking gold is only useful to jewelers. Gold is a valued commodity if your Currency is weak because of its stability. Gold is useful for more than its practical usage.

Bingo.

[Bruce Banner]

if you are joe q public and you buy actual gold, you are basically keeping that gold in a safe or in a tin buried in the backyard, something like that. You aren't selling it to the Chinese for jewelry production. Yes you can do that but no one does.

Nonsense. Gold is fungible, demand anywhere in the world for any purpose drives up the price. You don't have to sell gold to the Chinese to benefit from a price rise due to Chinese demand.

It's "saving" your money but what are you saving it for, is my question.

"Scare" quotes are "childish". Buying gold is an investment just like buying stocks or land.

We either live in a world where the US dollar is great (keep printing it baby) and life is good.. or we live in a world where we bury gold in your floor boards, next to the axe's, flashlights, shotguns and water purifiers. I choose to live in the first world, as delusional as that sounds.

Printing more money weakens the value of the dollar so I don't see why you recommend printing more when you want to live in a world where the dollar is great.

If the dollar falls there is no reason to believe that will hurt gold as an investment. If a falling dollar means inflation than that is good news for gold investors because gold does very well in times of high inflation, just look at the '70s.

Buying gold does not make you a pessimist. It makes you someone who thinks gold will cost more in the future. Try and be rational about this, were talking about gold not Joe McKnight. 70% of the yearly gold production goes into jewely. As huge sections of the world get richer demand for gold jewelry will grow in proportion. Will supply keep up? Not if the world is relying on South African mines, which are starting to dry up.

[bitonti]

Buying gold does not make you a pessimist. It makes you someone who thinks gold will cost more in the future.

Investors only realize that gain if they sell the gold. If you sell the gold what are you getting for it? Inflated dollars that you didn't really want in the first place?

My point was that the people who buy gold tend to keep it in gold. It's not a real investment strategy if you never sell.

[Jets Voice of Reason]

Investors only realize that gain if they sell the gold. If you sell the gold what are you getting for it? Inflated dollars that you didn't really want in the first place?

My point was that the people who buy gold tend to keep it in gold. It's not a real investment strategy if you never sell.

No crap you don't get anything out of gold unless you resell it or plan on making your own jewelry. That was never in dispute. Just like if you never sell a stock you don't have anything. People hoarding gold with no intent To resell it are morons. Investing in gold is not moronic. That is a distinction you are missing here.

The price of gold fluctuates based on supply and demand both domestically and in international markets. Inflation is a minor part of the story. The dollar experiences fluctuations in value but nothing to the extreme. My point is that say you buy a gold bar for 50 dollars and a month later sell it for 100. yes you get back dollars but you still profit from it since inflation did not make the purchasing power of 50 nominal dollars the same as 100 nominal dollars in 2 months.

Long story short, gold is a perfectly good investment strategy if you know what you are doing. Also, do you ever wonder why our government hoards gold as well? It doesn't anymore, but the dollar used to be pegged to our gold and silver reserves. You can't just print money when you want either. That's just basic.

[Biggs]

Investors only realize that gain if they sell the gold. If you sell the gold what are you getting for it? Inflated dollars that you didn't really want in the first place?

My point was that the people who buy gold tend to keep it in gold. It's not a real investment strategy if you never sell.

People who seek wealth and a comfortable future accumulate assets of all kinds. What's the point of an investment strategy that doesn't include the accumulation of wealth? The point of investing may be for allot of reasons, a primary source of income, a future goal or accumulating wealth.

Nothing wrong with accumulating gold, stocks, homes, planes, cars, bonds and never selling them. You can leave them to a charity, university or your family and if you need them at some point you can sell them. Gold isn

[Jetlag]

Gold is no where near it's peak. It will probably head north to 5000 according to some of the major investors whose opinion I respect. Then you liquidate and get rid of any debts you have. That's if you hoard gold and silver like myself.

BTW silver is the better investment because it still has a LOT of room to grow and is at a much more reasonable price. Historically the price of gold to silver has been about 10:1. Go check the prices of those 2 right now and then go look at the stability of the global fiat currencies and try convincing me it's not a great time to hedge your life savings. Plus then you have stories like this.

JP Morgan Silver Manipulation Whistleblower

Followed by this:

Jim Rickards claiming the DOJ will investigate JPM regarding silver

[bitonti]

Nothing wrong with accumulating gold, stocks, homes, planes, cars, bonds and never selling them.

except for the maintenance and depreciation on planes, cars and possibly houses i would tend to agree... hoarding is a viable way forward... but it's not the most liquid of options.

[RutgersJetFan]

The two celebrities they have doing the commercials are Steve from the Jerry Springer Show and the dude that Damon punked in the bar in Good Will Hunting. And its biggest promoter is Glenn ****ing Beck. That right there should be enough for anyone with a brain.

But hey, when the government knocks down your door and rapes your kids, stabs your dog, hangs your wife, and masturbates all over your furniture, you'll be thankful you invested in gold.

[Aten]

The two celebrities they have doing the commercials are Steve from the Jerry Springer Show and the dude that Damon punked in the bar in Good Will Hunting.

lol@Cyril

[RutgersJetFan]

lol@Cyril

Wyan!! WYAN!!!

[Biggs]

except for the maintenance and depreciation on planes, cars and possibly houses i would tend to agree... hoarding is a viable way forward... but it's not the most liquid of options.

Gold is pretty liquid and particularly so when other assets like stocks, homes, etc. may not be so liquid. We saw a little bit of that yesterday when stocks lost their liquidity for a short time and gold was extremely liquid.

I wouldn't call accumulation of wealth hoarding unless you think saving is hoarding? Most people I know who have become rich who weren't born into it or making a huge income did it through saving or accumulating assets over time.

[Jetlag]

But hey, when the government knocks down your door and rapes your kids, stabs your dog, hangs your wife, and masturbates all over your furniture, you'll be thankful you invested in gold.

Not to make this political, so answer in PM if you want, but I'm about as cynical/skeptical of the US govt as anyone but please explain to me how gold is involved in that.

[TheShow]

Never dated a Jewish girl, eh?

how the heck do I nominate that for post of the year!? lmao