Comments about ‘Gold looking sweet in sour economic times’

When the price eventually "corrects" (bubble breaks), look out below for those poor souls who were "the last ones in the door."

Tulips anyone?

Some may think this story is bunk and that gold prices are unrealistic don't really understand the power it has in an economy, even for the layman.

While the power of paper money will devalue and become useless, gold or silver will buy the same as it did in the days of a silver backed currency. An ounce of gold will always buy the same amount of goods regardless of paper value. In a sour economy investments and stocks loose even more that paper money. Gold is the stabilizer of personal and economic financial security. It is tangible and spendable. Though its market value may fluctuate it remains a durable asset. An ounce of silver will buy you food for several days. It takes several hours of work, if employed, to buy the same goods.

Instead of consumers buying debt, they should be buying tangible assets, (gold, silver, platinum), it will still be there when all other investments go sour.

PS-Don't confuse buying gold certificates or stock futures with in the hand assets, they aren't the same. The paper metals are volatile and unsecured and very risky and costly.

Gold is no different than any other "investment". If the economy totally collapses, how will it taste? How well will it keep you warm? Will a basket of food be more valuable than a metal that has been hyped over the years? The attraction to gold is nothing more than sentimentality arising out of the past. It is nothing more than a means of exchange. If gold replaces our currency as the mean of exchange, you will have bigger problems than not having it because you didn't succumb to the hucksters.

Gold has, historically, been a pretty lousy investment. That's unless you're really lucky in when you got in and you know when to get out. Gold is a good hedge against inflation, but that's about it. I don't think it protects you against deflation. Gold doesn't produce anything. In other words, it isn't keyed into American productive capacity which is how real wealth is made. Besides that, you can't eat it.

People need to really be careful about investing in metals. You can really get burned.

Hey Cats and liberal dogs,
What are you investing in? If not gold and silver, as a part of your portfolio, what are you Obama economy subscribers investing in? I think that for sure these standards of exchange should be a part of a persons investments. After the presidents misteps and purposeful economy destroying decisions have had their effect, hyper-inflation, whats left?
My investment picks are to follow George Soros, they guy behind the curtain, messing up all things financial, and enriching himself. Follow Al Gore, who has made a literal fortune with his scare the world "global warming" crap. Follow Obama and his investments in Cap and tax. You may end up being a billionare like the money masters of our time.

Gold might have been a decent investment 4 years ago. Right now it's a massive bubble that WILL pop. I wish I could short sell gold.

The gold Glenn Beck sells is sold at market value pulse 15%. selling fear and gold has been sweet for him.

KM conservative fear mongers have said inflation was imminent. Like most lies, like Obama will take your guns are too stupid to comment on.

As fear as investment. George Soros beats Beck any day. He has earned money , not by pandering to fear but in the free market.

"GEORGE SOROS is Chairman of Soros Fund Management, LLC and founder of The Open Society Institute. He was born in Budapest in 1930. He survived the Nazi occupation and then fled communist Hungary for England, where he graduated from the London School of Economics. He then settled in the United States, where he accumulated a large fortune through the investment advisory firm he founded and managed."

What have you doe with your life?

Cats | 8:21 a.m I rarely find agreement with you but, you sure understand gold. A sweet investment might be to short gold.

As, with the Bush tax cuts, conservative never learn from the past. There was the stock bubble were I sold my stock position and cashed in just before the crash. I heard a barber talking about buying Microsoft, which has a P&E of 138. There there was Crammer telling people that the housing bubble was different. The rules of classical economics no longed applied.

I learned this scripture of capitalism. "When the small gays get in, its time for the big guys to cash in and leave. :-)

In the divinity of the free market, you must selling when chumps are still buying in.

This comment section would lose much of its entertainment value without these ranting conservative who believe Fox News and talk radio as if it was gospel.

Maybe, why I did better than most understanding investing, is I'm a skeptic. If I read a book I check the footnotes and read other sources.

I rank people by their past credibility. You said tax cuts would work? They didn't.

KM asked: "What are you investing in? If not gold and silver, as a part of your portfolio, what are you Obama economy subscribers investing in? "

Answer: my business. It is a great time to upgrade equipment/buildings because sellers/ contractors are willing to make deals and prices for supplies are down. Plus then if things get worse, the major things are already upgraded/ taken care of so fewer surprise major expenses are likely to come up at a bad time. And if things get better, I'm all set to kick it up a notch.

As far as gold goes, I recall the bubble and pop of the 70's with all the hype about it being pretty much the same. And I try never to buy a bubbled commodity anywhere near the peak of the market.

Dear Not_Scared: I have NO respect for George Soros as a person. But, he knows how to make money.

I have a great deal of respect for Glenn Beck as a person. I'm sorry to say it, but gold, historically, has been a lousy investment. It is only good as a hedge against inflation.

I also have no respect for Barak Obama. He has turned a difficult situation into an historic mess. He doesn't have a clue about economics or how to run anything.

But, anyone who knows anything about economics knows that the way our wealth grows is through productivity and investment in the private sector. Our wealth is in goods and services, economic activity, trade and innovation. NOT GOLD. The only reason gold has any value is because people think it has value. In addition, it is probably at the top of the market. Buying gold right now is extremely risky as we seem to be heading into a deflationary period.

Obama should have cut marginal rates, eliminated capital gains taxes, cut government spending and then just gotten out of the way.

I hope we can get through the next 2 1/2 years.

In six months we made $25.00 on a $5,000 CD, in the same amount of time we made about $900.00 on $5,000 in gold. We do not even do CD's now, we decided to purchase a very costly camera lens, they keep their value and so we will enjoy it a couple of years and resell it. So for now, bye bye CD's.

Dear MoJules: CDs are also, historically, not very good investments. As I stated earlier. Gold is a good hedge against inflation and you can make money if you are lucky enough to get in at the right time and get out at the right time. Buying gold right now is very risky. I would be very careful investing in any metals.

"Obama should have cut marginal rates, eliminated capital gains taxes, cut government spending and then just gotten out of the way."

You failed the lessen of history. What happened when Bush lowed taxes? There was no demand to rationalize investing in capital. You don't built factories until you see a growth in demand.

The extra money the wealthy had was invested in derivatives, mortgage backed bonds, buying condo as investment properties and homes to flip. These tax cuts along with keeping interest rates low to keep our economy from tanking fueled the speculation leading to our economic collapse.

It's impossible for a horse to push a cart. Demand it an economy's life's blood. Bush failed. If he was going to cut taxes, Bush should have cut taxes for the middle class because that would have increased demand. Increased demand would have been reason to invest in new capital.

Obama cut capital depreciation so companies could write off new capital quicker, he favors cutting taxes and giving credits to small businesses and make it easier for small businesses to get SBA loans.

You can't eat gold. What have Church leaders been telling us for over 50 years. Food storage. And countless thousands will tell you that listening to this advice helped provide for their families during hard times. Make sure you have at least 3 months supply of food (more if you can afford and store it). Have water storage in case of an earthquake and water lines burst or become contaminated. Have enough saved to pay your mortgage for several months in case things get bad. These are the things that will give you a physical and financial safety net. One could think of all sorts of additional emergency supplies - a month or two supply of drugs needed to sustain life, such as heart, thyroid, blood pressure meds, etc. depending upon shelf life. Once you have these in place, then you can think of investments like gold, but it seems it is hugely inflated right now.