QWAK,Living in a TENT may become somthing that is common cost to cost starting in 08!
It may be fun when one goes camping but living that way will REALY SUCK!:(
The last time the outlook for gold seemed truly bleak was in 1999, when in London the Treasury announced it was selling half of the UK's official reserves. That prompted some pundits to proclaim the end of gold as a private and official investment asset class. The British decision, combined with the threat of more central banks selling, a booming stock market, falling inflation and a strong US dollar, shocked the gold market, with the bullion price sinking to a 21-year low of $250 an ounce. Jill Leyland, the World Gold Council's chief economist says: "Gold was considered old-fashioned."
Within months of the Treasury's decision, however, other central banks - worried about the impact of indiscriminate selling - arranged a pact, known as the Central Bank Gold Agreement, to cap sales and in effect put a floor under the price. The UK sale proved to be the starting gun for the current bull market.
Alan Greenspan, then Fed chairman, supported gold investments telling the US Congress in 1999 that gold still represented the ultimate form of payment in the world. "Fiat money, in extremis, is accepted by nobody. Gold is always accepted," Mr Greenspan said.
The latest surge looks more robust: the price of the metal has hovered around the $800 level since late October. By November it touched $845.40 an ounce and the price fixed in the London afternoon market in recent months has frequently been above $800 an ounce.
In January 1980 the London afternoon fix was above $800 a ounce on only two occasions. The average for that month was about $675 - a level surpassed in May 2006 and April 2007 as well as September to December last year. Indeed, the December average, at just over $808, was about 20 per cent higher than that of January 1980.
Still, the latest surge looks much less impressive if adjusted for inflation. In real terms, bullion would need to be well above $2,000 to match the price achieved in 1980.
The Financial Times Limited 2008
Note: The full article can be seen at:
If anything changes, and we head to FL, I'll absolutely want a boat. After I stopped signed off here, my wife, out of the clear blue asked me if I'd consider moving to FL!!! I told here it's been on my mind, but the hurricane factor is a proble in my mind. Of course the reason she mentioned it, is because we have family there, and now my son is talking about going there too. So the boat might be on my buy list... who knows?
It is always better to see Dummy in one of his friendlier moods contributing to the investment discussion instead of dissing all but the Dwuck. Nice contribution.
Yes I give the Dwuck a hard time with his hype of gold. Gold is no more likely going to 3000 any time soon than the Dow was going to 100,000 back in the days of the tech bubble/boom and the book of that or similar name. It has only this year come within reach of its modern alltime high and you, Bear and I know or could find with a bit of research dozens of stocks that have achieved all time highs this past year and others that have set all time highs for several straight years, GOOG, AAPL & perhaps RIMM being 3 that come quixly to mind.
Is gold a completely safe investment at its current level approaching 900. You do your homework and there is little doubt know more than I respecting gold, but Id hazard a guess that you know there are sevearl plausible developments/events that could see gold sliced and diced.
Isnt it Biliton that has a possible monster gold mine in the analysis and development stage. European Central banks seem to have a nearly endless supply in their vaults which they could use to flood the market. A world wide recession. An end to the Iraq Missadventure, a more balanced US budget and a strengthing of the USD are agian some of the possibilities that come swiftly to mind.
So while I cont to bet on oil and its related companies, currently PBR and RIG are my fovorites, I am also aware of the incredible developments in solar. Aware that a little start up outfit funded by the Google founders believes it has a solar product that will be in commercial production sometime this year or next that will produce a megawatt of electricity as cheaply as coal. What does that portend for the price of barrel of oil and or rail car of coal. And what if any effect would it likely have on gold.
Some food for thought.
j-4...you wanna buy a boat...big..small..canoe...kayak
>> maybe an air boat good idea...........
>>i have mine in the carport...and when the ocean rises...i should be ok....might lose the house...but not my life
Yo spliter... just after my last post I got a call about our Florida trip in April... that we're definitely going to make. I hope the damn glaciers don't melt yet. I don't have a boat either.
"45 yrs......that's truely amazing....my congrats..again.....i did about 35....but had to do it three times to get to that number of yrs.......NEVER again!!
re: "NEVER again".... ROTFLOL!!! You're not going to find anymore dynosours like us for much longer. I went to my class reunion in October just before the Hawaii trip. Most of them are still married. An unusual group of people. Had a great time too. Drugs were not much of a problem from what I heard and saw. Talk about throwbacks... that's like being with a group from a different century!
T/A is just another tool. I've learned that the order of importance is fundamentals come first, T/A is second. However, when searching for new plays, I use T/A, then check the fundamentals to see that they fit. There's lots more that can be done, but that's basically the way I've been doing things for a long time. It works pretty well. Long term to medium term to short term. Get the basic trend first, then zero in to your heart's content. Same way getting in as getting out. As for gold, it's got plenty left. But nothing goes straight up without correcting. A correction is coming, but I think there's probably close to another hundred points before it takes the next serious break. JMHO. No matter what I think before it happens, I still watch for the signals to show before I leap. As far as AAPL is concerned... splits a great, depending on what phase the stock is in. Like anything else, you need to keep checking the trend starting with the long term. I don't know if the change I see in it is a death knell, but I do see a definite change ahead. Possibly a double top, but at this point, I'll let you guys go for the gold ring, so to speak. I already have mine. I hope you score big.
Yo spliter... let's not overdue it with the bouquet tossing. Everybody has their good points, but I don't want you to go out on a limb and end up having to recant your words. I have plenty of bad points when I get up on the wrong side of the bed. My wife can give you a list you wouldn't believe. We've been married for forty-five years and I still introduce her to people as my first wife. We grew up withing a mile of each other and went to the same school. Remember I said some people never learn? I'm one of them. BTW... how late do you sleep. You just got up? Or did you just sober up? :)
Yo spliter... those poor sould in California... that is the smart ones... already sold their property at the top of the bubble and moved here. Most of them made so much money, that they were able to buy new homes here for half of what they sold their places for in California. Now they're enjoying the good life and clogging up or freeways.