Art_from_Ark
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Thu Oct-14-10 07:45 PM
Response to Reply #36 |
| 56. You might want to take a tour of the BEP web site |
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Edited on Thu Oct-14-10 07:45 PM by Art_from_Ark
The BEP (Bureau of Engraving and Printing) produces all of Uncle Sam's paper money. There are 2 facilities-- one in Washington, D.C., and the other one in Ft. Worth, Texas. On your tour, you might want to pay particular attention to these production facts. They could be helpful in making an informed post about paper money: During Fiscal Year (FY) 2009, the Bureau of Engraving and Printing produced approximately 26 million notes a day with a face value of approximately $907 million. During FY 2009 the BEP delivered 6.2 billion notes at an average cost of 7.5 cents per note. 95% of the notes printed each year are used to replace notes already in, or taken out of circulation. Between the Fort Worth, Texas and the Washington, DC Facilities approximately 9.7 tons of ink per day were used during FY 2009. http://www.moneyfactory.gov/uscurrency/annualproduction...
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| -Hi fellow DUers. Quick question: Pls. tell me why gold is NOT the way to go now or why it IS |
secondwind |
Oct-05-10 07:22 PM |
#0 |
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it was the way to go when it was only $500/oz nt |
msongs |
Oct-05-10 07:24 PM |
#1 |
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Correct. The rule is "buy low, sell high". This is time to sell, if it's time to do anything. nt |
bemildred |
Oct-05-10 10:38 PM |
#16 |
  -
Why was early October the time to sell? |
Art_from_Ark |
Dec-23-10 09:58 PM |
#80 |
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Because markets can remain irrational longer than you can stay solvent |
Taitertots |
Dec-24-10 09:50 AM |
#83 |
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Sounds like you're actually talking about the NYSE |
Art_from_Ark |
Dec-24-10 08:40 PM |
#87 |
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You don't know how prices are calculated for stocks, bonds... |
Taitertots |
Dec-25-10 07:40 AM |
#92 |
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No, gold is nothing like Tech stocks in 2001 |
Art_from_Ark |
Dec-25-10 02:53 PM |
#100 |
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What's the p/e on net flicks these days? |
westerebus |
Dec-25-10 06:53 PM |
#102 |
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So it's only a good investment if you can triple your money? |
Art_from_Ark |
Oct-14-10 03:20 AM |
#48 |
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Gold |
bbinacan |
Oct-05-10 07:24 PM |
#2 |
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If the economy ever really collapses and takes the government with it |
FiveGoodMen |
Oct-05-10 07:30 PM |
#6 |
  -
Could be. |
bbinacan |
Oct-05-10 07:43 PM |
#11 |
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For what? How would tomato peddlers give you change? n/t |
eridani |
Oct-13-10 05:56 AM |
#34 |
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IMO, Gold is up, so buying gold now would be dumb. nt |
Lost-in-FL |
Oct-05-10 07:26 PM |
#3 |
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Tks, guys. |
secondwind |
Oct-05-10 07:26 PM |
#4 |
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Take some jewelry to a buyer and see what you get for |
Cleita |
Oct-05-10 07:30 PM |
#5 |
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Gold jewelry is not an investment item in the US |
Art_from_Ark |
Oct-07-10 10:07 PM |
#22 |
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Don't say never. House prices in America never fall either. nt |
pokercat999 |
Dec-20-10 12:05 AM |
#74 |
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I didn't say gold prices will never fall |
Art_from_Ark |
Dec-24-10 01:23 AM |
#81 |
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That is an unsupportable claim to make |
Taitertots |
Dec-24-10 09:55 AM |
#84 |
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Considering that gold has not been $130 in nearly 40 years |
Art_from_Ark |
Dec-24-10 06:28 PM |
#86 |
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You sound just like the people who were over leveraged on housing |
Taitertots |
Dec-25-10 07:07 AM |
#91 |
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Overleveraging and fundamentals |
Art_from_Ark |
Dec-25-10 01:02 PM |
#94 |
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You are trying to answer the wrong question |
Taitertots |
Dec-25-10 01:22 PM |
#95 |
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A fad like beanie babies? That's nonsense |
Art_from_Ark |
Dec-25-10 01:46 PM |
#96 |
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It was an absolute failure as a monetary medium |
Taitertots |
Dec-25-10 02:07 PM |
#97 |
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What utter nonsense |
Art_from_Ark |
Dec-25-10 02:16 PM |
#98 |
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Why are you obsessing over the analogy? It is the least important part. |
Taitertots |
Dec-25-10 02:45 PM |
#99 |
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Oh, for crying out loud |
Art_from_Ark |
Dec-25-10 03:13 PM |
#101 |
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Gold isn't a hedge against "Reckless fiat monetary policies" |
Taitertots |
Dec-25-10 10:40 PM |
#104 |
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Duh |
Po_d Mainiac |
Dec-26-10 07:11 PM |
#106 |
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Ok genius. Where is the inflation? |
Taitertots |
Dec-26-10 11:08 PM |
#107 |
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Ow stupid me........ where shall I start |
Po_d Mainiac |
Dec-27-10 07:56 AM |
#108 |
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There is not high inflation |
Taitertots |
Dec-27-10 08:19 AM |
#112 |
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You are talking like a babe in the woods |
Art_from_Ark |
Dec-27-10 08:12 AM |
#110 |
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Changes in one sector is not inflation |
Taitertots |
Dec-27-10 08:16 AM |
#111 |
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Oh, fer crying out loud! |
Art_from_Ark |
Dec-27-10 08:21 AM |
#113 |
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A handful of biased price groups increasing isn't inflation |
Taitertots |
Dec-27-10 08:57 AM |
#114 |
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For cryin' out loud, again |
Art_from_Ark |
Dec-27-10 09:11 AM |
#115 |
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Cherry picked sector price increases isn't inflation |
Taitertots |
Dec-27-10 10:34 AM |
#116 |
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To paraphrase Will Rogers: |
Art_from_Ark |
Dec-27-10 07:41 PM |
#120 |
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It is not inflation by definition |
Taitertots |
Dec-27-10 11:31 PM |
#121 |
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Overall, we are not experiencing high inflation. |
OllieLotte |
Dec-28-10 03:58 PM |
#122 |
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There is a problem, but it is not inflation |
Taitertots |
Dec-29-10 08:18 AM |
#123 |
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when the sh~T hits the fan.... |
blue sky at night |
Oct-05-10 07:30 PM |
#7 |
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The reasoning behind trading gold back for cash, |
Art_from_Ark |
Oct-08-10 01:11 AM |
#24 |
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Cheap diners used to trade meals for gold jewelry back in the 30s |
Warpy |
Dec-25-10 09:56 PM |
#103 |
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Oh, for crying out loud |
Art_from_Ark |
Dec-27-10 08:06 AM |
#109 |
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When the shit hits the fan, dealers won't have any money, either |
Warpy |
Dec-27-10 11:07 AM |
#117 |
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How in the world did you come up with that scenario? |
Art_from_Ark |
Dec-27-10 05:54 PM |
#119 |
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Cause it's 'bubbled' right now? Nt |
xchrom |
Oct-05-10 07:34 PM |
#8 |
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There's way more paper gold than gold. |
DCKit |
Oct-05-10 07:35 PM |
#9 |
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Never buy anything when the price is at an all time high. |
FSogol |
Oct-05-10 07:39 PM |
#10 |
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"advertised on Fox" . . .ie. Glenn Beck and Goldline |
DinahMoeHum |
Oct-05-10 08:14 PM |
#13 |
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to be honest, on quite a few "left" shows, too ... however ... |
zbdent |
Oct-05-10 08:23 PM |
#14 |
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The #1 rule to investing is doing your homework |
Art_from_Ark |
Dec-24-10 08:44 PM |
#88 |
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Exactly. |
westerebus |
Dec-25-10 09:40 AM |
#93 |
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The "kinds of suckers buying gold" include central banks |
Art_from_Ark |
Oct-08-10 01:27 AM |
#25 |
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Can you eat it? |
dixiegrrrrl |
Oct-05-10 08:06 PM |
#12 |
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You could melt it down and make bullets. Or slingshot ammunition. |
jtuck004 |
Oct-05-10 10:27 PM |
#15 |
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LOL. |
dixiegrrrrl |
Oct-06-10 05:31 AM |
#17 |
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medium of exchange |
DoctorK |
Oct-12-10 09:21 AM |
#32 |
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All money is fiat money by definition, and the government doesn't influence monetary policy-- |
eridani |
Oct-13-10 06:07 AM |
#35 |
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All of today's money is fiat |
Art_from_Ark |
Dec-24-10 08:51 PM |
#89 |
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So why was gold backed currency universally rejected by all modern economies? |
Taitertots |
Dec-29-10 08:57 AM |
#124 |
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you can't eat it... |
northernlights |
Oct-06-10 07:01 AM |
#18 |
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bury them in a animal proof container under that straw |
dixiegrrrrl |
Oct-07-10 12:00 PM |
#21 |
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As I wrote upthread, there is a big difference between jewelry and bullion |
Art_from_Ark |
Oct-08-10 02:00 AM |
#26 |
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so you can eat bullion? |
northernlights |
Oct-08-10 08:43 AM |
#27 |
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You can't eat anything that is normally considered an investment |
Art_from_Ark |
Oct-11-10 09:27 PM |
#31 |
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You haven't bothered to think about this much. |
Po_d Mainiac |
Oct-13-10 12:47 AM |
#33 |
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Last week $1.00 in silver US Coinage was worth $28.00..nt |
pokercat999 |
Dec-20-10 12:16 AM |
#75 |
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You are referring to the $1 American Silver Eagle (ASE) |
Art_from_Ark |
Dec-23-10 09:56 PM |
#79 |
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I think it is going to continue to run up some more. |
OllieLotte |
Oct-06-10 12:35 PM |
#19 |
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Don't think of it as the price of metals rising |
Po_d Mainiac |
Oct-13-10 07:57 AM |
#38 |
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Gold have been bery good to me |
pscot |
Oct-07-10 10:27 AM |
#20 |
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It depends on what your plans are. |
westerebus |
Oct-07-10 11:13 PM |
#23 |
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If gold is so valuable, why do people trade it for paper money? |
hedgehog |
Oct-08-10 03:27 PM |
#28 |
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Several reasons. |
westerebus |
Oct-10-10 02:51 AM |
#29 |
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On what planet is paper currency the norm? |
eridani |
Oct-13-10 06:15 AM |
#36 |
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Push the buttons on an ATM and what do you get out of it? |
westerebus |
Oct-13-10 08:07 AM |
#39 |
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I don't use an ATM, ever |
eridani |
Oct-14-10 09:13 PM |
#57 |
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That planet would be "Earth" |
Art_from_Ark |
Oct-14-10 03:37 AM |
#49 |
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You might want to take a tour of the BEP web site |
Art_from_Ark |
Oct-14-10 07:45 PM |
#56 |
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I'm amazed at the number of thirsty horses |
Po_d Mainiac |
Oct-13-10 07:11 AM |
#37 |
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I hear you. |
westerebus |
Oct-13-10 08:46 AM |
#41 |
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And the coffee grinders were by the cash registers |
Po_d Mainiac |
Oct-13-10 10:13 AM |
#42 |
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I wasn't allowed near the stove. |
westerebus |
Oct-13-10 06:44 PM |
#44 |
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Ouch... sounds like my life... here & now |
Po_d Mainiac |
Oct-13-10 10:32 PM |
#45 |
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Wow-- two 27-S's in a roll of Standing Libs bought at melt |
Art_from_Ark |
Oct-14-10 12:29 AM |
#46 |
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But 'redbook' pricing doesn't come without |
Po_d Mainiac |
Oct-14-10 07:38 AM |
#50 |
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ANACS is a lot cheaper than the Big 2 |
Art_from_Ark |
Oct-14-10 08:15 AM |
#51 |
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Wow a "64"!! |
Po_d Mainiac |
Oct-14-10 02:39 PM |
#54 |
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I got lucky on that one |
Art_from_Ark |
Oct-14-10 04:12 PM |
#55 |
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Horses at the trough |
Art_from_Ark |
Oct-14-10 01:04 AM |
#47 |
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Gold is not a currency |
Art_from_Ark |
Oct-10-10 02:57 AM |
#30 |
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These children ain't gonna understand what you just said. |
Po_d Mainiac |
Oct-13-10 08:17 AM |
#40 |
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Bubblenomics |
Joanne98 |
Oct-13-10 10:18 AM |
#43 |
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If you are getting investment advice from DU - then I definitely think you should buy gold. |
cbdo2007 |
Oct-14-10 10:06 AM |
#52 |
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A childish response |
Po_d Mainiac |
Oct-14-10 02:30 PM |
#53 |
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Mine was a childish response??? ha haha |
cbdo2007 |
Oct-15-10 12:53 PM |
#58 |
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Wow |
Po_d Mainiac |
Oct-15-10 01:41 PM |
#59 |
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No secrets - just research. |
cbdo2007 |
Oct-15-10 04:17 PM |
#60 |
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I suggest you put all your money in stocks. |
westerebus |
Oct-15-10 06:04 PM |
#61 |
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Oh I've got all my money in stocks.... |
cbdo2007 |
Oct-15-10 10:06 PM |
#64 |
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So gold is up 30% for the year but it's in a bubble |
Art_from_Ark |
Oct-16-10 03:15 AM |
#65 |
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Stocks were undervalued due to the 2008 crash... |
cbdo2007 |
Oct-16-10 09:21 AM |
#66 |
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You don't seem to know the first thing about metals. |
Art_from_Ark |
Oct-16-10 10:11 AM |
#67 |
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Ah I get it ...spam alert.....Spam alert |
Po_d Mainiac |
Oct-15-10 06:42 PM |
#62 |
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Spam. Old American. |
westerebus |
Oct-15-10 09:45 PM |
#63 |
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Classic! n/t |
Po_d Mainiac |
Oct-16-10 11:41 AM |
#68 |
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Classic Snake Oil Stock Market Bullshit |
Taitertots |
Dec-24-10 12:10 PM |
#85 |
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I recently melted down some gold... |
Cassandra |
Oct-18-10 01:28 PM |
#69 |
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Buy low and sell high is the way to make money |
golfguru |
Oct-18-10 11:51 PM |
#70 |
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GOLD IS A BARBARIC RELIC |
frankieT |
Dec-15-10 09:57 AM |
#71 |
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Slavery and famines were caused by the Gold Standard? |
Art_from_Ark |
Dec-24-10 01:31 AM |
#82 |
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Are we failing to learn from history? Pre WW2 Germany |
upi402 |
Dec-15-10 12:47 PM |
#72 |
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I too have learned..... |
AnneD |
Dec-18-10 08:46 PM |
#73 |
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Presumably that means you actually have your hands on the gold and silver? |
eridani |
Dec-21-10 02:43 AM |
#76 |
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Having a piece of paper saying you own gold or silver doesn't mean shit |
Art_from_Ark |
Dec-23-10 09:51 PM |
#78 |
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I agree. Given known gold reserves, about what percentage would you say-- |
eridani |
Dec-25-10 03:55 AM |
#90 |
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Not exactly an answer, but |
Po_d Mainiac |
Dec-26-10 05:55 PM |
#105 |
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Buying something at very inflated prices hoping that it will go up even higher... |
Rochester |
Dec-23-10 01:13 AM |
#77 |
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Lead is for killing |
upi402 |
Dec-27-10 01:21 PM |
#118 |