Jump to content
Sign in to follow this  

GOLD PRICE

Recommended Posts

With the chaos in the stock markets and falling oil prices, normally in such turbulent times one would normally expect gold to rise but it has fallen back a lot. I am tempted to buy physical gold and store it with a First Tier bank. I know very little about gold and never really traded any commodities so would welcome any ideas where you think gold is heading. I just want to have an insurance if paper money becomes useless. Look at how many emerging market currencies have lost so much of their values like the Turkish Lira, Lebanese Pound, Russian Rouble etc. Anyone thinks such an insurance is a good idea?

Share this post


Link to post
Posted (edited)

That's interesting.  Why is gold valuable in a crisis when people are dying and in need of food and medicine?

In LSE did they teach you only equations and monetarist claptrap?

Go back to the beginning and read these: Smith, Ricardo, Marx.  Maybe Keynes too.  Trust me, you didn't learn economics.  You learned a dumbed down version of maths.

Edited by dmedin

Share this post


Link to post
47 minutes ago, dmedin said:

That's interesting.  Why is gold valuable in a crisis when people are dying and in need of food and medicine?

In LSE did they teach you only equations and monetarist claptrap?

Go back to the beginning and read these: Smith, Ricardo, Marx.  Maybe Keynes too.  Trust me, you didn't learn economics.  You learned a dumbed down version of maths.

A. LSE has and still is very leftist and so are most of the professors there.

B. I have studied most of the economic philosophies of the left and right. You are just an arrogant know it all.What are you doing on IG if you don't believe in capitalism?

C. If you have studied history, gold has been a means of convenient exchange rather than full barter. So if paper money becomes worthless, how will trade occur? We need a mechanism for exchange and gold is limited in its volume and can be used for other purposes so will have some intrinsic value.

But you are so set in your views and conspiracy theories that it is pointless to have a rational discussion with you.

  • Sad 1

Share this post


Link to post
5 minutes ago, Eurobonus said:

A. LSE has and still is very leftist and so are most of the professors there.

B. I have studied most of the economic philosophies of the left and right. You are just an arrogant know it all.What are you doing on IG if you don't believe in capitalism?

C. If you have studied history, gold has been a means of convenient exchange rather than full barter. So if paper money becomes worthless, how will trade occur? We need a mechanism for exchange and gold is limited in its volume and can be used for other purposes so will have some intrinsic value.

But you are so set in your views and conspiracy theories that it is pointless to have a rational discussion with you.

 

Young man!  (or woman)

 

Get thyself an education.

Share this post


Link to post

Don't worry, toots.

Gold will make a comeback.

Soon.

Just you wait and see.

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      12,846
    • Total Posts
      65,881
    • Total Members
      87,006
    Newest Member
    LoupGarou
    Joined 31/10/20 19:47
  • Posts

    • 👀 ... PM announcement due at 4 pm.  
    • Lockdown until the flu virus (corona) is beaten for good. Victory at any cost. You know it makes sense!!!!!    The absolute state of these clowns ... Apparently, SAGE now saying that if we don’t have an immediate, month-long lockdown Christmas is off. The cost of such folly will mean millions of people won’t be able to afford Christmas anyway. The virus will still be waiting in early December. @allisonpearson   The answer is to lock SAGE up for a month and let the rest of us proceed sensibly with our lives, while backing medical professionals to improve treatment and care of the infected, reducing mortality. Lord Moylan @danielmgmoylan   Reminder that Covid-19 has a similar fatality rate as common flu and that the 5 year rolling average for deaths from flu type infections is around 30,000 a year, was before covid, during covid and will be after covid. It is typically the last battle of the old and sickly and has been since forever.
    • Glad to see your posts at the Indices thread. James16 and company at the Forex Factory had the great phrase “day trading off the daily charts”. That and trading the hourly ranges is what I have been doing recently.  
×
×