UGGH!! The Gob'ment Is Taking My Savings Lil By Lil.....

[RobsanX]

IDK my 401 is was up 4.5% when I got my mid year letter. My modest stock port. is up maybe 15 points on the year. Most my stocks, 70% are Costco and the rest is in Stone brewing.My money market is still paying 3.4 % So I feel good about where I am being 34 and all. With gold so very high I wouldn't buy in less you strongly feel the end is nigh. As things get better over the next 5-10 years it will likely drop.

You got me curious, so I checked my 401k, and it is up 5.2% for the year.

[truthwolf1]

Lieberman Says We Need To Cut Social Security To Pay For Defense

[lxskllr]

I wouldn't buy gold now. It'll certainly go up more, but that house of cards is bound to crash some time. Five years ago is when gold was good to buy.

[Premium Parrots]

IDK my 401 is was up 4.5% when I got my mid year letter. My modest stock port. is up maybe 15 points on the year. Most my stocks, 70% are Costco and the rest is in Stone brewing.My money market is still paying 3.4 % So I feel good about where I am being 34 and all. With gold so very high I wouldn't buy in less you strongly feel the end is nigh. As things get better over the next 5-10 years it will likely drop.

yea a lot of stocks are up for the year to date but the last few days the market has plumited. My Walgreens stock fell another 1.2 points last night.
Still up from the end of last year but it still sucks.

After checking out gold last night and how to get it and such, it seems that ebay is not a bad place to buy gold without leaving much of a "trail" and paying silly fees. Unfortunately, on Ebay it appears the most one can buy at one time is 1 oz 24ct. While getting 2 lbs would take some time thru ebay, no one would know and there wouldn't be any fees. Buying thru the exchanges would leave a trail. I'm a cash kinda guy, I like to keep the gob'ment out of my affairs as much as possible.

After carefull consideration I believe that real estate and gold might be the safest investments now. After I move real estate was defiinately in the cards. I was already planning on 3 houses in Georgia. I'll leave my stocks where they are and proceed with the gold thing now. Still looking for an outlet better than ebay. Any suggestions? thanks

[tman570]

Yes. Buy low, sell high...

This

BTW looks like all hell is breaking loose today http://money.msn.com/market-news/pos...e-5ea4f827cb29

[sgreger1]

Everybody has to stop demonizing the tea party, granted the say the things that piss some off, but let's be for real, the tea party has existed for 18 month now if that. and everything is there fault, c'mon people, aren't we a bit smarter thatn that? I'll leave it there till people want to know more........

I know, it's like blaming Bush's presidency on code pink or moveon.org lol.

I understand they are getting a lot of media attention but let's place blame where blame is due, CONGRESS. Some of them got elected because of the tea party, and some of those currently serving got elected by moveon.org and the code pink types in years passed. But at the end of the day it is congresse's fault for not doing their duty and coming together to fix this, they are too busy chearleading for their respective parties and blaming the opposition to fulfill their role as our representatives.

[sgreger1]

That Tea Party is a funny thing. Bush spends money like a drunken sailor for 8 years, and nobody utters a peep. Four days after a Black man gets into the White House this Tea Party pops up and starts railing against the "government".

I don't think it has anything to do with him being black personally. I think the reason we are seeing this reaction is because people were pretty well off for most of Bush's term, and like clockwork it all collapsed at the end of his presidency which is when the tea party started forming (prior to Obama being elected mind you). I think people just didn't realize it was time to stop the spending until the end of Bush's term and so they didn't come out until that time.

Same thing with the anti-war crowd. You see much less anti-war movements on the left since a democrat is in now.



@ PP RE: Buying gold.

Don't do it, it's a bad investment. It's valued at about $1700 an ounce right now, that is WAY too expensive. It is a bubble that will pop once things stabilize and people regain confidence in the existing system. Buying it back when it was $600 an ounce would have beena good investment but now is a bad time to buy as you would be buying high and selling low. It will peak a little more but will soon deflate back to it's actual value.

I told my mom in 2006 to buy 10k worth of gold with her savings. She put it in her 401k instead. Needless to say she lost the 10k in her 401k, but if she had invested it in gold she would have made $28,300 off her initial investment by now. If you buy now though, your $28,300 will turn back into 10k in 10 years time.

[sgreger1]

You got me curious, so I checked my 401k, and it is up 5.2% for the year.

Most 401k's lost money in 07-09 and then went up a few points between 09-11. If you lost 10% on 08 and are up by 4-5% each year, you didn't exactly make much money. Not sure if this is what your 401k shows but my family has certainly lost money. I am not a big believer in our 401k system. Pensions were a much better idea.

[Premium Parrots]

I haven't lost any money. I have lost profits tho. Most of my stock is walgreens. I bought it at a decent discount because I bought it thru my buddy Kevin Walgreens, way back. My IRAs are still good but haven't made much $ for me in the long run. Investing in the birds was the best thing I could have ever done. Its paid off big time and it isn't affected by the economy. I've sold a few breeder birds lately and I need to invest some of the $ right away. I want to start with a kilo.

My doctor has been big into gold for years now. I just emailed him for some advice. I'll let you know what he says.

With the state of our government/country lately I think that gold is still a good investment. When/if the banks go down the tube and our dollar isn't worth shit...gold will persevere. It my be the only currency in the worst of times. Even if the price of gold goes down a bit I still think its a good investment. At least I'll be able to trade gold for lifes necessities. If you do a lil research many countries are trading their US currency for gold, other precious metals, and other currencies. That kind of makes you think....

I dont mind if I lose a bit of $ in the gold market.....I like to eat

[Mr. Snuffleupagus]

I don't believe gold and silver are in a bubble but a long term uptrend. They are volatile markets so not good for short term, but I'd much rather invest in them compared to stocks and fake currencies. I've been reading Franklin Sander's forecasts and agree:

http://silver-and-gold-prices.goldprice.org/

[sgreger1]

I haven't lost any money. I have lost profits tho. Most of my stock is walgreens. I bought it at a decent discount because I bought it thru my buddy Kevin Walgreens, way back. My IRAs are still good but haven't made much $ for me in the long run. Investing in the birds was the best thing I could have ever done. Its paid off big time and it isn't affected by the economy. I've sold a few breeder birds lately and I need to invest some of the $ right away. I want to start with a kilo.

My doctor has been big into gold for years now. I just emailed him for some advice. I'll let you know what he says.

With the state of our government/country lately I think that gold is still a good investment. When/if the banks go down the tube and our dollar isn't worth shit...gold will persevere. It my be the only currency in the worst of times. Even if the price of gold goes down a bit I still think its a good investment. At least I'll be able to trade gold for lifes necessities. If you do a lil research many countries are trading their US currency for gold, other precious metals, and other currencies. That kind of makes you think....

I dont mind if I lose a bit of $ in the gold market.....I like to eat

Well if you are going off the assumption that everything will turn to road warrior in the near future than yah gold is a good idea. Even fi you buy now, it will go upa little more over the next few years, but my prediction is that ultimately (within 10 years) things will recover to a degree and at that time gold will go bakc to being worth about $800-100 an ounce at best. If you are in it for the short term you may be able to make some money, but I don't think gold is a good long term investment.

The powers that be seem to tank the economy ever 15 years or so and drain all the money up to the top from your 401k's etc. I think Gold has been overinflated due to people being too worried, it is a bubble that will pop. You should look into silver, it is very undervalued right now and will be worth more in the future. Once gold starts peaking out the advertisers will move to sellin silver and it will inflate big time, could probably make a decent penny if you buy it now while it is off the radar and cheap.


Let us know what your buddy says though, I am curious to hear what he has to say. If you bought gold 5 years ago than it would be an amazing investment like no other (trippling in value!), but I don't see it trippling again even in a very bad scenario.

[sgreger1]

I don't believe gold and silver are in a bubble but a long term uptrend. They are volatile markets so not good for short term, but I'd much rather invest in them compared to stocks and fake currencies. I've been reading Franklin Sander's forecasts and agree:

http://silver-and-gold-prices.goldprice.org/

Oh come on man, gold is not work $2k an ounce and will not continue to tripple over the coming years. People are worried about America's future and we are in the middle of a recession, plus the radio/Tv/everyone is marketing it like crazy, so everyone is buying it and the increased demand is driving up prices. It is a bubble, mark my words it will go down at some point once things recover a bit. There is no way gold can tripple again like it has in the past 5 years and then keep going up, gold is simply not worth that much.

[Mr. Snuffleupagus]

Oh come on man, gold is not work $2k an ounce and will not continue to tripple over the coming years. People are worried about America's future and we are in the middle of a recession, plus the radio/Tv/everyone is marketing it like crazy, so everyone is buying it and the increased demand is driving up prices. It is a bubble, mark my words it will go down at some point once things recover a bit. There is no way gold can tripple again like it has in the past 5 years and then keep going up, gold is simply not worth that much.

It's not as much gold going up but the dollar going down. Just sayin'.

[Premium Parrots]

you are right about the silver. the plan was a kilo of gold then look at silver right away. I actually think that silver might be a tad more risky but the possible return could be incredible for the very reason you mentioned. IMO both are good investments. I don't see gold ever going down much. Its like everytime it hits a new high that it won't go down much after that. sure it varies a little everyday but it slowly goes up as time goes on. If gold reserves are dwindling then the price goes up. Theres a alot of people buying right now.

That said.....If I lost a couple of hundred dollar per ounce it would still be worth it to me for the overall peace of mind...........

that I can feed my face should all hell break loose.



hell, I have xtra batteries and rolling papers stashed away for the bad times......why not some precious metals too?

[Premium Parrots]

It's not as much gold going up but the dollar going down. Just sayin'.

this too^