I wonder what happened to gold? (rhetorical)

[Guest 6.8 AR]

http://www.ft.com/intl/cms/s/0/6055d326-a5ad-11e2-9b77-00144feabdc0.html#axzz2QWDxQzOd

 

As our economy gets worse, I think these swings will be wider and wider. People are betting

for and against things they don't understand, even Goldman Sachs. They are propping up

fiat currency by saying to short gold. It's really bad when someone like that resorts to tricks

like that. There is either value or there isn't Goldman Sachs might as well say value is

imaginary and essentially means nothing. All they are saying is a piece of paper is the value.

Nothing backs it up.

 

At least that's what I got out of this.

[MacGyver]

I'll say this, and people can take it for what it's worth.

 

I wouldn't place any of my money with Goldman Sachs.  They've got political favor and sway with both parties - they can game the system with either party in office.  Problem is that we're in uncharted economic territory, and they're making increasingly large bets with less and less expertise.  Sooner or later they're going to get hit with a "black swan" type event and it's going to be brutal.

 

If I were a client, I'd be seriously asking whether they're adding value or just performing some financial engineering tricks.

 

They're not the only ones.

[subsonic]

Buy low. I plan on it. Sooner or later the paper house of fiat cards will crash and precious metals will spike in a huge way. Silver is still a better bet than gold, undervalued by historical comparison. Gold has historically been worth 14 times that of silver, but is currently trading at 57 times silver.

 

 

It might also be an intentional move to kill the price of gold and then snap it up cheap. It's how George Soros has made billions shorting currencies.

Edited April 15, 2013 by subsonic

[JG55]

Might read this then factor it into your calculations as to what is going on with Gold

 

http://www.humanevents.com/2013/04/14/obamas-plan-to-destroy-america-hatched-at-columbia-university-says-classmate/

[Guest 6.8 AR]

That' definitely part of it. Goldman Sachs are as crony as one could get. They have huge ties to this.

 

and I wasn't even going there. You're right!

[Jonnin]

these type places are expected to make money for their clients.   This is very difficult in a world with the problems that ours has, or even locally with the troubles the USA has right now.   All investing is always of some risk, but right now the high risk high reward stuff is just that: high risk -- and the rewards are, while higher than other investments, not all that good for the risk involved.   The mess leaves these companies in a bind --- trying to make money when there are no sure bets.  

 

So what do you do? Buy gold and hope it goes up instead of down?  If the country does well,  investing in gold will lose you money in a big way in the not too distant future.  If the country continues to go downward, you win.  So even gold is not a sure thing.

 

Personally, at the end of this year, if my accounts (not with goldman, but they are all the same) are not doing well I am going to pay off my house instead and give the investment scene a rest.   The interest on my house is low and it is still outpacing the returns on investment as of last year.... ugg.

[seez52]

Best bet... black gold and I'm not talk in about Texas tea. This black gold has a trigger and collapsable stock and or parts to make same.