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EUS
Kill cancer
Premium Member
join:2002-09-10
canada

EUS to dirtyjeffer0

Premium Member

to dirtyjeffer0

Re: Buying some USA nickles for the intrinsic value.

But the central banks are buying on the dips because?

dirtyjeffer0
Posers don't use avatars.
Premium Member
join:2002-02-21
London, ON

dirtyjeffer0

Premium Member

it really depends on what you are doing with it.

for example, if you buy it at $1690 and sell it the next day at $1700, it might not sound like a big deal to make $10...however, if you bought 1000 ounces, you just made $10,000 in one day, doing nothing more than "shuffling paper"...as well, if you bought it at $1700 and hope to sell it in 5 months for $2000, that is also a pretty large chunk of money.

it wouldn't surprise me to see people buying and selling and riding the small gains to show numerous incremental payouts.

EUS
Kill cancer
Premium Member
join:2002-09-10
canada

1 edit

EUS

Premium Member

Trading paper gold (short term) has nothing to do with buying metal for wealth protection (long term) which is what the OP seems to be looking to do.

dirtyjeffer0
Posers don't use avatars.
Premium Member
join:2002-02-21
London, ON

dirtyjeffer0

Premium Member

said by EUS:

Fair enough, but trading paper gold (short term) has nothing to do with buying metal for wealth protection (long term) which is what the OP seems to be looking to do.

i don't see $1000 worth of nickels being worth much in 10 years...10 year old nickels today, are still worth a nickel...i am sure there are likely much better ways to "invest" your $1000.

WallyThacker
The Central Scrutinizer
join:2002-02-12
Canada

WallyThacker to EUS

Member

to EUS
said by EUS:

But the central banks are buying on the dips because?

The oil bourse is breaking apart. Iran is dealing in gold exclusively to sell oil to others.

The BRIC are floating the idea of a currency basket excluding the dollar

If/when the petrodollar is no longer needed all currencies may see a sharp revaluation. Gold may be money again that nations trade in.

The people as usual get useless toilet paper called FRN's or CAD.

EUS
Kill cancer
Premium Member
join:2002-09-10
canada

2 edits

EUS

Premium Member

China, Japan, Vietnam, Russia, Iran, and a couple more countries I do not recall are already up and running trade that does not require USD to enter the buy/sell transactions at all. Australia has joined.
Confidence in unbacked fiat is decaying quicker than I thought it would.
AUS and CAD have recently been upgraded to reserve currency status. Yet still not backed by anything.
Central banks buying tells me we're no where close to a top in gold (long term).
That, and "WE BUY GOLD" stores are increasing in numbers.
+ low interest rates
+ deficits
+ continual gov't stupidity