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Gold Bar Vending Machine Launched - Frankfurt-am-main

JimMac
post Jun 7 2009, 12:56 AM
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Gold can be available through vending machines in Germany now
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JFK
post Jun 7 2009, 01:17 AM
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Tell me why I am not surprised. rolleyes.gif
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Trapster
post Jun 9 2009, 12:35 AM
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You are not surprised because back in the 1920's hyper-inflation period a postage stamp cost 20,000,000,000 Marks (20 Billion). Cost for same service in USA: 3 cents.

Don't put everything into gold. If there is a cascade collapse like there was in 1929, then the price of everything will collapse, including gold.

But, having enough on hand to 'buy you way out' is not a bad idea.

This post has been edited by Trapster: Jun 9 2009, 12:37 AM
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JimMac
post Jun 9 2009, 12:12 PM
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QUOTE (Trapster @ Jun 9 2009, 12:35 AM) *
You are not surprised because back in the 1920's hyper-inflation period a postage stamp cost 20,000,000,000 Marks (20 Billion). Cost for same service in USA: 3 cents.

Don't put everything into gold. If there is a cascade collapse like there was in 1929, then the price of everything will collapse, including gold.

But, having enough on hand to 'buy you way out' is not a bad idea.


I don't agree gold will collapse. I also agree, one should not have all eggs in one basket. Gold has everyone's special attention now (big time) because it is, among many things, a barometer of strength of the global currency base, which is eroding in value. It's my claim that very few people truly understand gold, as a physical substance, and nor do they understand the gold market. There are many reasons to own gold in normal times, for one, it is a wealth preservation commodity, because one should buy gold not to trade it, but rather to sink your wealth into something that preserves it. The cost of trading gold is prohibitive, i.e. 5% to 8% both ways, IN and OUT, therefore you are behind already 8% when you buy-in, but then so is everybody else, except of course the big boys, oligarchs and such, who move the market. These trades take place in large amounts on a phone call, and the commission is probably a 1/4 point.

We are in a period of inflation, which debases the USD. Since gold is measured universally in USD, the price of gold is increasing to reflect its value as expressed in USD. In order to forecast the price of gold future, one must forecast the change in the yardstick by which gold is measured, which is now shrinking. I have no trouble seeing the USD at 50% of its current value in 12 to 24 months, just as I have no trouble seeing gold at 2Xcurrent values, based on the measurement yardstick alone. Add in the psychology factor that will place upward pressure on gold prices when the fiat currencies begin to falter, and I have no problem seeing gold as 3X current price. If we have a currency collapse, 10X current price is feasible, thinkable.
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