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wagsthadog
Penny Hoarding Member
USA
565 Posts |
 Posted - 02/22/2009 : 03:14:47
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Hi all-
just shaking my head looking at the premiums Precious metals are fetching on ebay makes me wonder-
What if Obama dupes the world and gold plummets to $400/oz for the next 10-year bubble?
I guess what I mean is, are we REALLY in for TEOTWAWKI or just a y2k scare? It seems like it's just one bubble after another, after another, and so on. If Barack sells the world on green technologies, whats to stop ANOTHER bigger bubble? You may be thinking that the Chinese won't pay for it, but if they're convinced that green tech is the new way to go, why wouldn't they? And when that bubble pops and the world is about to end in 2018, President Hillary inflates a new electric car bubble, and so on?
I guess it all boils down to---don't pay too much over spot...
wags
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Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 02/22/2009 : 03:24:45
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Well, if gold does drop that low, all I can say is buy, buy, buy... |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 02/22/2009 : 05:14:04
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Wags, check out the Shadowstats.com link in my signature line and look at the recent headlines about the 70 percent increase in the U.S. national debt since last fall. We're past the point of no return economically. Gold isn't going to plummet, and there's nothing Obama can do to prevent the inevitable collapse of the dollar. He might be able to mitigate some of the symptoms, but the dollar's collapse is well on its way. Keep stocking up and keep your eyes on the markets.
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fb101
Administrator
USA
2856 Posts |
Posted - 02/22/2009 : 08:02:30
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IMHO This absolutely will blow over.
Just like Hurricane Katrina..... |
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keys
Penny Collector Member
383 Posts |
Posted - 02/22/2009 : 11:49:52
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I heard the gold bears touting gold would go down to $400 per ounce, they said it last year, the year before that and the year before that. The only thing that will crush gold prices is if CD interest rates go to 25% or more (Not interest that is owed as in credit cards, interest that is paid to depositors.)
Obama might be able to calm the markets but not the masses. Economies sliding into recession, confidence dissolving, gold and silver seem like the only way to protect your assets.
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EBay prices have to be taken with a grain of salt,or if you prefer, the whole salt shaker. Prices get bid up higher than the market would normally bear, and if eBay prices were always increasing then coin delaers would sell their PMs exclusively on eBay to get the highest possible price.
EBay, cannot be relied upon to give the most accurate prices since over eager buyers will push up the prices to crazy levels.
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There will be another bubble since the public never learns (junk bonds, dot coms then housing bubble) It is easier to create a mania than to create lasting jobs so a new can't-miss sure thing bubble is created. As to what that could be is any one's guess.
Could htere be a gold and silver bubble? Maybe, though the gang of thieves on Wall Street hate PMs since they can't make any money off of the metal. Pumping the PM ETFs is possible, but by doing so they are subconsciously admitting that metals are better than paper investments, something Wall Street won't do.
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I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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n/a
deleted
15 Posts |
Posted - 03/02/2009 : 11:18:29
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All good things come to an end. However, I think this precious metals bull run is just starting to enter the Mania Phase. It will take a while yet to play out.
People scoff at margins on ebay. But at the end of the day, it is the price at which one person is willing to buy from another, and you can't get a better measure of the distrust people have in Financial Markets right now. I saw a figures recently that ebay sold $120 millon of gold bullion last quarter, I have not yet seen any stats for Silver.
Keys (above) is right in that the margins are pretty crazy. Margins I consitently see on You must be logged in to see this link. (which monitors ebay) tempt me to buy bulk philharmonics (or whatever) wholesale and punt them out a roll at a time on ebay. And I have seen more coin dealers selling this way.
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cleminwbpa
Penny Sorter Member
USA
70 Posts |
Posted - 03/09/2009 : 15:06:15
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We are on the PM rollercoaster. PM prices start to climb as the $ falls but then a lot of folks dig into those piggy banks and old coin collections and dump their PMs on the market. Then all of a sudden we have a glut on the market and the price takes a tumble. After the price drops they stop dumping their mini stashes until the market goes back up.
It's a vicious circle but that's how the free market works. When it gets real bad the speculation will stop and PMs will rise to their true value. |
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Will this blow over?
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