The Inevitable collapse of the dollar

How long until the inevitable collapse of the dollar?

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#27
#27
It's been collapsing for a while, the Canadian dollar is worth more, and the Euro is the preferred currency in the world. Back to your original question, the complete collapse of the dollar will occur when oil is traded in Euro's instead of dollars.
 
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#28
#28
oklavol said:
It's been collapsing for a while, the Canadian dollar is worth more, and the Euro is the preferred currency in the world. Back to your original question, the complete collapse of the dollar will occur when oil is traded in Euro's instead of dollars.
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The euro is not the preferred currency in the world and isn't ever going to be. The flight to quality that recently happened absolutely crushed the Euro.
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#35
#35
MillsfieldVOL said:
Know something I don't. mr7, did you get my PM?
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if you are serious. . . the reasons for not investing in gold are follows:

1) it no longer has a commercial purpose outside of jewerly and the demand for gold for jewerly has been dropping for years

2) adjusted for inflation it has a negative return over the past 30 years

3) the GLD and other gold funds are a significant % of gold buying and selling thus the volitilty of the gold price is far higher than it used to be. in other words it is no safe haven.

4) market fear and hysteria are at all time highs. any return to normalcy combined with #3 could make the gold price drop considerably.

5) those gold coin ads are running non stop. a good sign of an overblown market.
 
#36
#36
run from gold as fast as humanly possible. It no longer has any upside whatsoever and fundamentally should be drastically lower. That's essentially a housing market style devaluation waiting to happen, only about 3x worse.
 
#37
#37
Sorry Mills just now getting back to this tread but I think Droski and BPV. answered your question and I couldn't agree more with both. Like I told ya before, don't put your $$$$ all in one basket, esp. in gold. Stay diversifed!!
 
#38
#38
droski said:
if you are serious. . . the reasons for not investing in gold are follows:

1) it no longer has a commercial purpose outside of jewerly and the demand for gold for jewerly has been dropping for years

2) adjusted for inflation it has a negative return over the past 30 years

3) the GLD and other gold funds are a significant % of gold buying and selling thus the volitilty of the gold price is far higher than it used to be. in other words it is no safe haven.

4) market fear and hysteria are at all time highs. any return to normalcy combined with #3 could make the gold price drop considerably.

5) those gold coin ads are running non stop. a good sign of an overblown market.
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related to #5, my investment strategy of buying when everyone says sell has made up the 60% losses in my roth IRA from dec. 2007-nov 2008, over the span of 3 months. Shorters are almost too easy to read these days.
 
#39
#39
I'm pissed because my local Daily's market doesn't have gold as a form of payment. Gold is an investment, and a poor one to make at this point since it's pretty close to the ceiling.
 
#43
#43
MontereyVol said:
Wouldn't matter, it isn't the point. Demand for gold is going to increase dramatically in the next decade.
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Why would you lock your money up in a commodity that could lose more money than a mutual fund would in a fiscal year?? I think the long track of gold going up is about to stop and people will be selling it like crazy when it does and the price will fall like a fat person on ice, HARD and FAST.
 
#44
#44
g8terh8ter_eric said:
Why would you lock your money up in a commodity that could lose more money than a mutual fund would in a fiscal year?? I think the long track of gold going up is about to stop and people will be selling it like crazy when it does and the price will fall like a fat person on ice, HARD and FAST.
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I don't doubt BPV and Droski know something about gold dropping in the near future. What I am arguing is that the use of gold is going to go up dramatically in the medium range future (~5 to 10 years). Its commercial appeal is staggering for future growth.
 
#45
#45
MontereyVol said:
I don't doubt BPV and Droski know something about gold dropping in the near future. What I am arguing is that the use of gold is going to go up dramatically in the medium range future (~5 to 10 years). Its commercial appeal is staggering for future growth.
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Just looking at the trek of gold and it's highs and lows in the past 30 years, one would think that it should start to go down at any time in the near future. The last REAL recession we had, gold plummeted almost 300-400 dollars an ounce.
 
#46
#46
g8terh8ter_eric said:
Just looking at the trek of gold and it's highs and lows in the past 30 years, one would think that it should start to go down at any time in the near future. The last REAL recession we had, gold plummeted almost 300-400 dollars an ounce.
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over the last 30 years gold hasn't had the commercial use that is going to be needed in the future.
 
#48
#48
g8terh8ter_eric said:
Like what?? Technology??
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Yes,

In electronics, computers, aerospace, etc...

future growth of combining processors to work cohesively will add to the small amount processors use now, we should be seeing commercial 16 core processors by 2010. And they forecast 32 by 2015. Cell phones becoming more and more abundant, not to mention your cars onboard system.
The coming Space race, as gold is used as the metal of choice for maintaining temperatures and lubrication between moving metal joints in space. Its uses are now being discussed for Biotechnology.

And the human element, countries will hoard gold because it is ingrained in their mindset.
 
#50
#50
IMO the price of gold isn't being driven up by unitarian usage. People believe gold iss a safer investment then the dollar, euro, etc during economic uncertainty. It doesn't make a lot of sense to me, but people believe that.
 
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