Comments on: Cash For Gold

By: WDW

WDW — Sun, 03 Jan 2010 14:34:07 +0000

Please define “sustainable” also tell me if you mean long or short term. Every time there is a significant trend in the financial realm someone tells us that this is a new para dyne. Phooey, this is just supply and demand from Econ 101.

By: Niche Marketing Man

Niche Marketing Man — Wed, 18 Nov 2009 18:38:42 +0000

Exactly what I was thinking, thanks for putting this forum together.

By: Jacob Steelman

Jacob Steelman — Sun, 08 Nov 2009 07:27:58 +0000

Well it sure as heck is fluctuating against other currencies as if it is money. Many central banks hold it as they would hold a currency in reserve. There is private e-gold which can be used to settle accounts. Yes it fluctuates but so does the US dollar, the euro, the AUD. Government mints manufacture and sell gold and silver coins. Even the establishment’s ruling elite group, The Council on Foreign Relations, has suggested the real possibiliy of gold becoming a private competing currency to the pieces of paper fiat currency being counterfeited everyday by the governments of the world. True it is not legally sanctioned by government as legal tender but then the government does not want competition from this superior private currency.

By: David Johnson

David Johnson — Sun, 08 Nov 2009 03:28:50 +0000

The problem is that gold is NOT money. Folks need to read more than a few blog posts in LvMI before they declare themselves economists. Remember when gold crashed a couple decades ago? Everywhere you turned “Austrians” were telling folks to buy gold… and then it crashed.Deja vu.

By: Andrew Daines

Andrew Daines — Thu, 05 Nov 2009 18:20:23 +0000

http://www.inflation.us/nourielroubini.htmlHere's a good article as well. Gold is usually highly correlated with inflationary pressures.

By: Bill Green

Bill Green — Wed, 04 Nov 2009 16:02:30 +0000

Check out kitco.com for lots of gold commentary. Though there is certainly difference of opinion, there are many who believe the trend will continue.

By: todd

todd — Wed, 04 Nov 2009 15:45:29 +0000

India just bought 200 metric tons from the IMF.“The fall in the U.S. dollar seems to be pushing all the central banks to strengthen their portfolio with gold,” said N.R. Bhanumurthy, professor at the National Institute of Public Finance and Policy in New Delhi. “Gold is a safe store of value compared to the U.S. dollar.” http://www.bloomberg.com/apps/news?pid=20601012&sid=al7qXOH.bVn8

By: Jacob Steelman

Jacob Steelman — Wed, 04 Nov 2009 01:43:49 +0000

The reason there are cash for gold programs is the demand for gold as the USdollar falls in value. People desire to get out of dollars and into another currency. For those distrustful of other government currencies they desire private currency – gold and othe precious metals. If the dollar increases in value and the price of gold in USD drops and continues to drop then gold will be sold and people will desire USD.