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Could there be a run on gold soon?

post #1 of 15
3/29/10 at 2:02am
Thread Starter 
There are several factors that play into the possibility of a run on gold

#1 - the nations have been chatting of forsaking the US dollar as the worlds reserve currency, opting for a basket of currencies instead.

#2 - any major earthquake taking out LA and San Fran could make markets panic, creating a ripple effect. Sources from above say a Japanese quake will bring tsunami, wiping out the westcoast line housing market as well as a mega quake like a cascadia subduction, rupturing the San Andreas Fault line 13 of 15 times historically, collapsing the whole west coast economy.

Any of those events happen, good bye USD. Hello $6-$7 a gallon gas and the next great depression.

probably a sell off as markets crash and then a sudden spike and frenzy rush to gold if dumping of the dollar begins
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post #2 of 15
3/29/10 at 3:13am
My wife keeps telling me "we need to buy gold" ,"we need to buy gold", "we need to buy gold"...she thinks the world is coming to an end
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post #3 of 15
3/29/10 at 3:14am
Yes, weatherbill, we know that 2012 is your favorite movie...

#3 - the inevitable Market correction?
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post #4 of 15
3/29/10 at 3:46am
If Gold becomes super duper valuable due to hyper inflation making it so, would you rather own 1 ounce silver rounds/bars, or 1 ounce gold rounds/bars?

And i'm talking equal value here. So, around 50 ounces of silver vs 1 ounce of gold?

I'd put my money on smaller denominations, just cuz they seem easier to spend.
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post #5 of 15
3/29/10 at 3:47am
I think you're a little late to the party on gold; it's going down.

Quote:
Originally Posted by weatherbill View Post
There are several factors that play into the possibility of a run on gold

#1 - the nations have been chatting of forsaking the US dollar as the worlds reserve currency, opting for a basket of currencies instead.

#2 - any major earthquake taking out LA and San Fran could make markets panic, creating a ripple effect. Sources from above say a Japanese quake will bring tsunami, wiping out the westcoast line housing market as well as a mega quake like a cascadia subduction, rupturing the San Andreas Fault line 13 of 15 times historically, collapsing the whole west coast economy.

Any of those events happen, good bye USD. Hello $6-$7 a gallon gas and the next great depression.

probably a sell off as markets crash and then a sudden spike and frenzy rush to gold if dumping of the dollar begins
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post #6 of 15
3/29/10 at 4:03am
I love the "source from above". Nice!
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post #7 of 15
3/29/10 at 4:22am
Quote:
Originally Posted by simonyadig View Post
I love the "source from above". Nice!
My source? My source is it had its run and inflation has not appeared.
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post #8 of 15
3/29/10 at 4:49am
If gold is 2500.00 an ounce and gas is 7 bucks a gallon, guns and ammo will be worth way more than gold. High quality guns are a great investment. They won't beat the S&P but they will keep up with inflation and never lose their value if cared for. Same with ammunition. At 1104.00 now an ounce I'd buy 5 revolvers to trade if worried about doomsday.
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post #9 of 15
3/29/10 at 12:37pm
Gold and Silver popping today.
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post #10 of 15
3/29/10 at 1:05pm
Quote:
Originally Posted by USMC View Post
My source? My source is it had its run and inflation has not appeared.
Good old USMC

Not the brightest bulb in a string of Democrat/Liberal/Socialist-approved-LED-green-energy-safe-for-the-environment Christmas lights...

...and YES, I just made that up.
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post #11 of 15
3/29/10 at 1:19pm
Quote:
Originally Posted by 22rowdy View Post
Good old USMC

Not the brightest bulb in a string of Democrat/Liberal/Socialist-approved-LED-green-energy-safe-for-the-environment Christmas lights...

...and YES, I just made that up.
A Recurring theme.....




.
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post #12 of 15
3/29/10 at 3:21pm
Quote:
Originally Posted by 22rowdy View Post
Good old USMC

Not the brightest bulb in a string of Democrat/Liberal/Socialist-approved-LED-green-energy-safe-for-the-environment Christmas lights...

...and YES, I just made that up.
Shouldn't that be "holiday" lights??
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post #13 of 15
3/29/10 at 3:40pm
Quote:
Originally Posted by I we Todd did View Post
Shouldn't that be "holiday" lights??
I believe the preferred term is "Happy Festivus".
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post #14 of 15
3/29/10 at 7:53pm
Yep, you're brilliant. Buy gold @ or near the top.


Quote:
Originally Posted by 22rowdy View Post
Good old USMC

Not the brightest bulb in a string of Democrat/Liberal/Socialist-approved-LED-green-energy-safe-for-the-environment Christmas lights...

...and YES, I just made that up.
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post #15 of 15
3/29/10 at 8:29pm
Quote:
Originally Posted by I we Todd did View Post
Shouldn't that be "holiday" lights??
Right, he can not write the word Christ. It gives him pains in his chest.
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