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Who To Believe ???
The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... Anyone of you coin collectors have any feelings on this subject ??? |
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Who To Believe ???
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#3
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Who To Believe ???
wrote in message ... The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... Anyone of you coin collectors have any feelings on this subject ??? You seem to question the credentials of a "so-called" expert on a TV stock channel, yet you don't sound like you have the same doubts about Glen Beck on the Fox channel? Apparently, you consider Beck the more legitimate expert on the subject. Go for it. No matter what happens, you're still gonna die, so why worry that much about what gold does? |
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Who To Believe ???
On Aug 25, 7:38*pm, "Bremick" wrote:
wrote in message ... The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. *Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... Anyone of you coin collectors have any feelings on this subject ??? You seem to question the credentials of a "so-called" expert on a TV stock channel, yet you don't sound like you have the same doubts about Glen Beck on the Fox channel? *Apparently, you consider Beck the more legitimate expert on the subject. *Go for it. *No matter what happens, you're still gonna die, so why worry that much about what gold does? Day in and day out, a person should have a certain percentage of their assets in gold and silver. That percentage should NOT be real high - the important thing is that it should NOT be zero. The percentage varies from person to person. Collectible coins with a realatively high composition of silver (and gold) to their market values are a great way to go - you get the pleasure of owning a historic object with the protection of holding some precious metals. If you don't care anything about history, you can do well with the modern bullion coins (the ones with explicit even weights in troy ounces) which have sprung up since 1968 (when the Krugerrand was first introduced). However, IMHO, the pleasures of Numismatics are too wonderful to be missed. The enjoyment of collecting coins is not inconsiderable. The big question is something like "What rock did you grow up under? Where have you been the past fifty years?" I grew up in quite modest rural midwestern circumstances and my grandparents, parents and teachers all let a kid know that yes, gold and silver was (and is) valuable. Didn't you ever read "Treasure Island" or The Diaries of Samuel Pepys? When the Dutch invaded the Medway in 1665, Mr. Pepys could refer to 300 pounds of silver plate and 1300 gold guineas as "That little in money which I presently have by me (in my possession at home). We are living in the first period in World History (now ran out to about the fifty year mark) where 99% of the people in the world accept whatever monetary dross their government has chosen to replace gold and silver, or bank paper redeemable in Gold and Silver. This amount of faith in a class of venal politicos and bankers is incredible. There is no indication that this experiement (and that is what it is) is going to end well. If you have no precious metal holdings whatsoever, buy three one-ounce AGE and three rolls (sixty coins) of ASE. We may see a moment where all fiat currencies go bad nearly simultaneously. In the near future. The financial system imploded about two years back, and the world is still waffling in the "discovery" and "denial" stages. At some point, lots of people are going to bail out of an obviously broken system. The early-bird "bailers" will do a lot better than the folks that are going to be too late. The modern financial system is a big, deep watery pool, and there aren't many ladders out of it. oly "Feeling really really optimistic this morning, ain't I?" |
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Who To Believe ???
On Aug 26, 5:13*am, oly wrote:
On Aug 25, 7:38*pm, "Bremick" wrote: wrote in message ... The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. *Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... Anyone of you coin collectors have any feelings on this subject ??? You seem to question the credentials of a "so-called" expert on a TV stock channel, yet you don't sound like you have the same doubts about Glen Beck on the Fox channel? *Apparently, you consider Beck the more legitimate expert on the subject. *Go for it. *No matter what happens, you're still gonna die, so why worry that much about what gold does? Day in and day out, a person should have a certain percentage of their assets in gold and silver. That percentage should NOT be real high - the important thing is that it should NOT be zero. *The percentage varies from person to person. Collectible coins with a realatively high composition of silver (and gold) to their market values are a great way to go - you get the pleasure of owning a historic object with the protection of holding some precious metals. If you don't care anything about history, you can do well with the modern bullion coins (the ones with explicit even weights in troy ounces) which have sprung up since 1968 (when the Krugerrand was first introduced). However, IMHO, the pleasures of Numismatics are too wonderful to be missed. *The enjoyment of collecting coins is not inconsiderable. The big question is something like "What rock did you grow up under? Where have you been the past fifty years?" *I grew up in quite modest rural midwestern circumstances and my grandparents, parents and teachers all let a kid know that yes, gold and silver was (and is) valuable. *Didn't you ever read "Treasure Island" or The Diaries of Samuel Pepys? *When the Dutch invaded the Medway in 1665, Mr. Pepys could refer to 300 pounds of silver plate and 1300 gold guineas as "That little in money which I presently have by me (in my possession at home). We are living in the first period in World History (now ran out to about the fifty year mark) where 99% of the people in the world accept whatever monetary dross their government has chosen to replace gold and silver, or bank paper redeemable in Gold and Silver. *This amount of faith in a class of venal politicos and bankers is incredible. There is no indication that this experiement (and that is what it is) is going to end well. If you have no precious metal holdings whatsoever, buy three one-ounce AGE and three rolls (sixty coins) of ASE. We may see a moment where all fiat currencies go bad nearly simultaneously. *In the near future. The financial system imploded about two years back, and the world is still waffling in the "discovery" and "denial" stages. At some point, lots of people are going to bail out of an obviously broken system. The early-bird "bailers" will do a lot better than the folks that are going to be too late. The modern financial system is a big, deep watery pool, and there aren't many ladders out of it. oly "Feeling really really optimistic this morning, ain't I?"- Hide quoted text - - Show quoted text - P.S. Mr. Pepys still had the biggest and most lucrative portions of his career in front of him when he made the remark about "That little in money which I preently have by me". Ah to be a corrupt naval functionary at the court of King Charles II of England. And there were very few ugly women in that court too. oly |
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Who To Believe ???
wrote:
The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. Okay, did he say why? Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... What reasons did Mr. Beck give for his opinion? Anyone of you coin collectors have any feelings on this subject ??? Don't believe anyone's bare assertions, including mine. Don't act on anyone's opinions until you understand their reasoning, verfied their facts and are willing to accept their base assumptions. For example, I don't accept your assumption that gold prices will rise during a hypothetical future depression. As a counterexample, the price of gold in yen dropped during most of Japan's lost decade. I'm pretty sure that the only gold I've bought this year was a Transylvanian Ducat and a Charlotte gold dollar. But I'm continuing to hold the stuff I bought when prices were less (nominally) than the 1980 peak. -- Mike Benveniste -- (Clarification Required) Its name is Public opinion. It is held in reverence. It settles everything. Some think it is the voice of God. -- Mark Twain |
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Who To Believe ???
Michael Benveniste wrote:
wrote: The other day on the TV stock channel a so called expert was saying Gold was at the end of its run on the up side and he expected it to go down in price considerably in the near future. Okay, did he say why? Today Glenn Beck was on saying a depression was coming very soon which I would figure would have Gold or other hard currencies go up .... What reasons did Mr. Beck give for his opinion? Anyone of you coin collectors have any feelings on this subject ??? Don't believe anyone's bare assertions, including mine. Don't act on anyone's opinions until you understand their reasoning, verfied their facts and are willing to accept their base assumptions. For example, I don't accept your assumption that gold prices will rise during a hypothetical future depression. As a counterexample, the price of gold in yen dropped during most of Japan's lost decade. I'm pretty sure that the only gold I've bought this year was a Transylvanian Ducat and a Charlotte gold dollar. But I'm continuing to hold the stuff I bought when prices were less (nominally) than the 1980 peak. Michael, surely you don't expect any of these hucksters to make a reasoned presentation, backed up by reliable evidence which supports their claims! Such things just don't play in Peoria or anywhere else. Blood and guts and forecasts of doom, that's what sells. James, not intentionally calling anyone Shirley |
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Who To Believe ???
"Mr. Jaggers" wrote:
Michael, surely you don't expect any of these hucksters to make a reasoned presentation, backed up by reliable evidence which supports their claims! :-) In the United States, thousands of people every year take formal training in how to make reasoned, logically valid presentations, backed by reliable evidence and based on totally speculative or invalid assumptions. Trust me(!) on this -- I was one of them. Such things just don't play in Peoria or anywhere else. Blood and guts and forecasts of doom, that's what sells. For some potential marks/clients "such things" are exactly the right approach. Bernie Madoff made it work for a long time. People like Howard Ruff and Frank Holmes are perfectly capable of writing reasoned columns. James, not intentionally calling anyone Shirley Alas, as time passes fewer and fewer people still appreciate that gag. "This? Why, I can make a hat or a brooch or a pterodactyl..." -- Mike Benveniste -- (Clarification Required) A jury consists of twelve persons chosen to decide who has the better lawyer. -- Robert Frost |
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Who To Believe ???
May I also point out that Goldline is also one of Glenn Beck's
advertisers? I am not saying that holding precious metals is a bad idea, but I think the fact that Beck is being remunerated by a gold seller might be an ulterior motive as well. |
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Who To Believe ???
Jud wrote:
May I also point out that Goldline is also one of Glenn Beck's advertisers? I am not saying that holding precious metals is a bad idea, but I think the fact that Beck is being remunerated by a gold seller might be an ulterior motive as well. I'd submit that Goldline and the other advertisers on Beck's or any other pundit's show keep the stations on the air and that's about it. Many of those stations are operating on a shoestring. It's the invisible "sponsors" that really pay Beck's salary. James the Corporate Maggot 'wait, did I say that right?' |
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