"Safe" investment, maybe gold?
Discussion
Novexx said:
& will always be worth something
This supposition is what I have a problem with when it comes to gold, silver, diamonds or other similar physical assets.You are essentially talking about the potential for the entire collapse of our way of life. If you really think that's likely and what you're planning for, then gold is a complete waste of time. You should be buying seeds, freeze-dried foods, water purification tablets and filtration, stuff which when our society collapses, will be the most valuable. If that were to happen, a bit of yellow metal will have zero realistic value.
In the UK, you're essentially playing the forex market as much as you're playing the gold market. If you are concerned about this, just buy dollars!
The single biggest jump in gold price (in GBP) in the last 10 years was due to the Brexit vote:
The Moose said:
This supposition is what I have a problem with when it comes to gold, silver, diamonds or other similar physical assets.
You are essentially talking about the potential for the entire collapse of our way of life. If you really think that's likely and what you're planning for, then gold is a complete waste of time. You should be buying seeds, freeze-dried foods, water purification tablets and filtration, stuff which when our society collapses, will be the most valuable. If that were to happen, a bit of yellow metal will have zero realistic value.
I think you've jumped a stage in that summation. There would be a phase, perhaps temporary, where gold would be traded and hoarded. If it becomes worthless, then everyone's fYou are essentially talking about the potential for the entire collapse of our way of life. If you really think that's likely and what you're planning for, then gold is a complete waste of time. You should be buying seeds, freeze-dried foods, water purification tablets and filtration, stuff which when our society collapses, will be the most valuable. If that were to happen, a bit of yellow metal will have zero realistic value.
ked anyway!jshell said:
bhstewie said:
hstewie said: How are you going to get to your gold?
Well, mine is stored with very easy reach...Are people really hoarding gold in their own homes in small enough bars to be able to use "on demand"?
Can't help but think that if we get to that point a shotgun and shovel are probably more use
jshell said:
The Moose said:
This supposition is what I have a problem with when it comes to gold, silver, diamonds or other similar physical assets.
You are essentially talking about the potential for the entire collapse of our way of life. If you really think that's likely and what you're planning for, then gold is a complete waste of time. You should be buying seeds, freeze-dried foods, water purification tablets and filtration, stuff which when our society collapses, will be the most valuable. If that were to happen, a bit of yellow metal will have zero realistic value.
I think you've jumped a stage in that summation. There would be a phase, perhaps temporary, where gold would be traded and hoarded. If it becomes worthless, then everyone's fYou are essentially talking about the potential for the entire collapse of our way of life. If you really think that's likely and what you're planning for, then gold is a complete waste of time. You should be buying seeds, freeze-dried foods, water purification tablets and filtration, stuff which when our society collapses, will be the most valuable. If that were to happen, a bit of yellow metal will have zero realistic value.
ked anyway!bhstewie said:
hstewie said:jshell said:
bhstewie said:
hstewie said: How are you going to get to your gold?
Well, mine is stored with very easy reach...Are people really hoarding gold in their own homes in small enough bars to be able to use "on demand"?
Can't help but think that if we get to that point a shotgun and shovel are probably more use
The Moose said:
bhstewie said:
hstewie said:jshell said:
bhstewie said:
hstewie said: How are you going to get to your gold?
Well, mine is stored with very easy reach...Are people really hoarding gold in their own homes in small enough bars to be able to use "on demand"?
Can't help but think that if we get to that point a shotgun and shovel are probably more use
Vergis said:
Gold is the way to go
Surely you always need people to believe that it is valuable for it to hold any value. Its relative scarcity, pretty colour and use in electronic circuits are surely its only saving graces? 'Economy is taking a bath, so I'm buying up shiny metal', just doesn't seem that logical to me.
egomeister said:
DoubleSix said:
egomeister said:
Behemoth said:
Gold refineries are shutting shop. They can't meet retail demand. That's where I'd start to wonder if paper gold (what an institution somewhere says you own on a spreadsheet) is the same as actually owning the real metal.
There's paper gold and there's paper gold. Some are physcially backed, some merely a claim on the future value of gold. Ultimately the only way to be sure you own gold, is by owning gold.There’s a gulf of difference in default risk between a CDO and an ETC.. you may wish to read up on the role of the custodian vs arranger vs administrator where these products are concerned.
Edited by DoubleSix on Thursday 26th March 16:43
When these boys are buying it by the tonne, then there's more than a little belief in it: https://www.marketwatch.com/story/why-russian-and-... Of course, buy doing a 'Gordon Brown' they could completely devalue it, but that's not in their interests either.
DoubleSix said:
jshell said:
DoubleSix said:
Central banks tend to buy by the tonne
If it has no value and not linked to currencies, why would they buy it at all?DoubleSix said:
Simplistic assessment of complex issues.
There’s a gulf of difference in default risk between a CDO and an ETC.. you may wish to read up on the role of the custodian vs arranger vs administrator where these products are concerned.
I don't think there are many paper products that allow a retail customer to redeem physical.There’s a gulf of difference in default risk between a CDO and an ETC.. you may wish to read up on the role of the custodian vs arranger vs administrator where these products are concerned.
Edited by DoubleSix on Thursday 26th March 16:43
At the end of the day it depends on why you buy into it. If you just want to play the price, then there is little downside in the paper. Personally, I view it as insurance against disaster rather than investment, with an added bonus of performing like an investment negatively correlated to most assets in times of stress. For my purposes, the closer to having it in your own hands the better.
Just checked the online gold retailers and Holy st! People are scooping it up. I buy the Royal Mint Queen's Beasts 1oz bullion coins and bought a bunch of Ltd Edition Unicorns for £970 last year. Here's where they are today: https://www.bullionbypost.co.uk/gifts/queens-beast...
t! People are scooping it up. I buy the Royal Mint Queen's Beasts 1oz bullion coins and bought a bunch of Ltd Edition Unicorns for £970 last year. Here's where they are today: https://www.bullionbypost.co.uk/gifts/queens-beast...
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