I can only speak for myself, and if I am wrong it is my error and my error alone.

First off, everybody is either wrong or stupid at some point in their lives.
As we get older we learn more and we eventually learn To Learn, we learn from others, we test others wisdom, and we eventually get wise by learning from others.
(We still learn from the Ancient Greeks, and Ancient Greek Philosophers are yet to be surpassed by today’s modern thinkers.)

The gold issue-
“If Me and my stupididty was to rush out to a broker or whatever and BUY GOLD, surely its just going to be numbers on an invoice and all this expensive gold price hiking is based on people just buying more and more of these numbers, in turn, making themselves and each other, poorer and poorer?”

Actually what you are doing (or should be doing) is exchanging paper dollars (that will lose value over the long run) for gold (which will hold its value over the long run.) You are exchanging one form of money for another. It would be the same thing if you exchanged dollars for Euros, you want a form of money that will be good for goods and services elsewhere and will hold its value until you can exchange the Euros back into dollars.

gold does the same thing. US Dollars today for gold today. Gold holdings exchanged for US Dollars in the future. Will gold exchange for a higher amount of paper dollars in the future? If inflation comes back then yes.

“Is it possible for me to buy like AU$300000 worth of gold and just tell my broker that I’ll be in to pick it up next week?”
That all depends if the broker (commodities borker?) actually has the gold ot deliver. commodity contracts have a clause in them that allows COMEX to exchange paper dollars for the contract instead of gold at COMEX’s discretion.

I hope this is of some help to you.

Firstly, thanks for ur articles.. the information you provide allows me to provide my workmates and friends with a variety of intelligent sounding comments, thus making me more acceptable as a person.

Truth is, Im actually pretty stupid and I hope that my email is still acceptable for you to read given my stupidness.

So here it is, I have a question, of which the answer may be obvious to you and everyone else.

I agree “buy gold”.. or silver, or listen to the other heavy metals.. and I agree, make money while the gold shines – buy it at $299, sell it at $999.. Gotcha.

Nixon ditched tha whole “paper dollars representing the heavy gold bars” rule 8 years before I was born and Im just wondering…

If me in my stupididity was to rush out to a broker or whatever and BUY GOLD, surely its just going to be numbers on an invoice and all this expensive gold price hiking is based on people just buying more and more of these numbers, in turn, making themselves and each other, poorer and poorer?

This is an honest question, Im not trying to be funny.

Is it possible for me to buy like AU$300000 worth of gold and just tell my broker that I’ll be in to pick it up next week? Or to get the wholesaler or minesite or whoever it is im buying it from to ship it straight to my place? Maybe they can drop it off on their way home?

Anyways, I made my little point and asked the question I wanted to ask you guys. Thanks in advance if you get a chance to reply!

I guess its one thing to say how great gold is going, but are we buying something thats already ‘gone’ and eventually, we’re gonna be left with nothing but red dust?

Or would it be intelligent to buy a gold mine instead, shares in a gold mine or shares in a company that can artificially produce gold – so that when the day comes and EVERYONE wants their gold – I can just start selling it to them directly?

Im thinking maybe even buy a hawk/pawn place that only buys gold? They seem to know how little everything is worth and usually just manage to stay in afloat, God bless them.

Okay, thanks & regards
Ryan

How to make gold go up ? I have an idea…..

Economic ethnic cleansing. Round up every keynsian on earth and hand shoot them.

I just want cheap beer and inflation is making that impossible.

My guess is that he is still one of those folks who think gold/silver spot market is correctly priced by the COMEX, while the physical dealers who have inventory are all charging “excessive premiums.”

So, will it ever dawn on these people that the COMEX is a heavily discounted, manipulated, worthless piece of paper, while it is the physical dealers who are the ones setting the true market price?

These dealers are either going to have to get over their fear of premiums, or go into a different business.