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Old 08-22-2011
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Michael Michael is offline
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Join Date: Mar 2009
Posts: 1,793
Default I have gold that I bought 1977-1979 at around $700

Originally Posted by Omegaman View Post
......where the HELL is everyone at? This place has been dead practically all summer? Don't tell me you assholes all went back to JW's place, did you?

Seriously......my 401K actually earned 18% last quarter, but I hear alot of my older co-workers with money talking about selling this or that and buying gold. I have a coworker friend who's side business is buying gold off of desperate inner city black people for CASH. He's making a killing......2 safe's full of gold and silver. He used to own a pawn shop, so he know's what he's doing. He predicts gold will hit $3000.00 an ounce at some point. I believe him.

- OmegaMan
In the 80's the price was in the $300 range and I lost my ass. But, I sold nothing.

Truisms to think about. Gold will at some point be selling for $3000, but that is not a statement about gold as much as it is about the dollar.

And all stocks will close a zero at some point in the future, just wait long enough. In my youth, the bluest of the blue chip invertments was the $1000 twenty year General Motors long bond. Ask anybody who held on in 2008-9 about how "blue" they became under 0bama!

Just figure where you would be today if you had $1000 invested in Dow component stocks in 1929 and sat on it! You might be surprised at how little money you had actually made!

When I graduated high school in 1966:

Gasoline: 29 cents a gallon
Cigarettes: 30 cents a pack
Milk: 49 cents a half gallon
New Chevelle SS396 with AC and Stereo: $3600.00
Gold (not legal to own as bullion for US residents): $52 per troy oz.
Blue collar (union) job: $5 per hour!

"....after changes upon changes, we are more or less the same" Paul Simon
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