Who is this guy who said gold coins are a bad investment?

Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

wrote:
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

People were saying about the same in 2004 ... you have to do your own
research and stick by your guns if you believe you are right. In
newsgroups and forums, you will get all kinds of "advice".

On Sat, 21 Mar 2009 01:19:25 -0700 (PDT),
wrote:

Gold coins are just about the last thing that anyone should invest in.
Who is the moron who wrote the above statement back in Jan 2006?

To be fair, the next two lines of his response we
"They should never be more than a few percent of one's net worth.
If you have any credit card, automobile, or mortgage debt, don't buy
gold."

http://groups.google.com/group/rec.c...c9491909?hl=en

I don't agree with parts of that statement, but didn't say gold coins
were always a bad investment.

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

In summary, a random internet poster made a bare assertion, without
any explanation or supporting evidence. You then chose to make an
investment decision on that basis. The fault, dear Brutus, ...

You may safely assume I'm a random internet poster, although one who
does, occasionally, buy and sell gold bullion.

--
Mike Benveniste -- (Clarification Required)
Quantum materiae materietur marmota monax si marmota monax materiam
possit materiari?

On Mar 21, 3:19*am, wrote:
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. *I posted a question as a newbie for
advice on how to do so. *I got this guy's reply. *After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

Gold is NOT an investment. Its value remains reasonably steady, while
paper money fluctuates. Gold is the numeraire, paper is the crapuluex-
iere. Gold is money, paper is credit.

Having said that, gold is way cheap today compared to where it will be
very shortly. On Wednesday, March 18th, 2009, the Federal Reserve
Open Market Committee stated that they will print 1.05 trillion out of
thin air, immediately. The FRB will buy 300 billion in USTNs and 750
billion in U.S. Agency mortgage-backed securities. This is the same
thing as exchanging paper money for said bonds. The Fed also said
that it expects to keep interest rates near zero, forever.

Weimar America, here we come. Zimbamerica here we come. Bob Mugabe
meet Barry Obama. Barry Obama, meet Bob Mugabe.

oly

wrote in message
...
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

I wanted to buy a bunch of silver bricks when it was $5 an ounce and was
told by a lot of people in this NG that it was a bad idea.

Two years later we saw $20/per ounce silver.

It happens. Learn to trust your gut and not strangers on Usenet.

"oly" wrote in message
...
On Mar 21, 3:19 am, wrote:
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

Gold is NOT an investment. Its value remains reasonably steady, while
paper money fluctuates. Gold is the numeraire, paper is the crapuluex-
iere. Gold is money, paper is credit.

Having said that, gold is way cheap today compared to where it will be
very shortly. On Wednesday, March 18th, 2009, the Federal Reserve
Open Market Committee stated that they will print 1.05 trillion out of
thin air, immediately.


And our currency went from a near 3 month high to an immediate 2 month low
VS the Euro. I should have known this was coming since I have some time
available in the next quarter for for a trip to Europe. Thanks a lot,
Bernanke!

Anyway, following Oly's logic, silver should see a jump as well but gold is
where the majority of money goes in these sorts of situations.

"oly" wrote in message
...
On Mar 21, 3:19 am, wrote:
regret.

Gold is NOT an investment. Its value remains reasonably steady, while
paper money fluctuates. Gold is the numeraire, paper is the crapuluex-
iere. Gold is money, paper is credit.

Having said that, gold is way cheap today compared to where it will be
very shortly. On Wednesday, March 18th, 2009, the Federal Reserve
Open Market Committee stated that they will print 1.05 trillion out of
thin air, immediately. The FRB will buy 300 billion in USTNs and 750
billion in U.S. Agency mortgage-backed securities. This is the same
thing as exchanging paper money for said bonds. The Fed also said
that it expects to keep interest rates near zero, forever.

Weimar America, here we come. Zimbamerica here we come. Bob Mugabe
meet Barry Obama. Barry Obama, meet Bob Mugabe.
************************************************** ****************8

I bought my first gold AE in mid Novbember '08 when gold was $730.00 am
ounce
and another gold eagle in december '08 and the ultra high relief tgold AE in
January '09
gold is at least $200.00 more per oounce then it was in mid November '08. I
agree w/
you gold is going to definitely continue to trend up.

http://www.kitco.com/charts/livegold.html

jack

wrote in message
...
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.


The statement was correct, if you had asked about gold coin speculation you
may have got a different answer. Billy

? "oly" ?????? ??? ??????
...
On Mar 21, 3:19 am, wrote:
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest in.


Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

Gold is NOT an investment.

Right, gold is *security*.

--

E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A

Coins, travels and mo
http://s208.photobucket.com/albums/bb120/golanule/
http://gogu.enosi.org/index.html

wrote in message
...
Newsgroups: rec.collecting.coins
From: richard schumacher
Date: Mon, 30 Jan 2006 04:15:31 -0600
Local: Mon, Jan 30 2006 10:15 am
Subject: Gold coins as investment

Gold coins are just about the last thing that anyone should invest
in.

Who is the moron who wrote the above statement back in Jan 2006?

I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.

I guess you're just a moron.