The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Fri Jul 31, 2020 4:18 am

Daaaayum. O_O

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"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Fri Jul 31, 2020 3:15 pm

So it looks like we didn't quite close at $2,000, guys. But we came very close!
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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dualstow
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Re: The GOLD scream room

Post by dualstow » Fri Jul 31, 2020 4:00 pm

Smith1776 wrote:
Fri Jul 31, 2020 3:15 pm
So it looks like we didn't quite close at $2,000, guys. But we came very close!
We’re gonna party like gold’s 1999
traveling...
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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Fri Jul 31, 2020 9:35 pm

ME EXPLAINING TO MY FRIENDS WHY THEY NEED TO BUY GOLD.


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See? I can poke fun at myself. ;D
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Kriegsspiel
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Re: The GOLD scream room

Post by Kriegsspiel » Sat Aug 01, 2020 6:29 am

I'm more of a

Image

guy, but I like yours too.
"You haven't, I suppose, ever mixed with politicians at close quarters. They're awful. I think some of these must have been the dregs anyhow, but I've discovered, what previously I didn't believe possible, that politicians behave in private life and say exactly the same things as they do in public. Their stupidity is inhuman.
- John Maynard Keynes
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sophie
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Re: The GOLD scream room

Post by sophie » Sat Aug 01, 2020 6:01 pm

You guys are awesome!! Don't know if I've mentioned that.
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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Sun Aug 02, 2020 9:02 am

Kriegsspiel wrote:
Sat Aug 01, 2020 6:29 am
I'm more of a

guy, but I like yours too.
LOL the flintlock pistol and his grin just makes it.

In my picture I imagine that's me right in the middle of me blabbering "AND THEN IN 1971 NIXON TOOK US OFF THE GOLD STANDARD. WE'RE BEING ROBBED OF OUR WEALTH DON'T YOU SEE????"
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Hal
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Re: The GOLD scream room

Post by Hal » Sun Aug 02, 2020 9:30 am

Smith1776 wrote:
Sun Aug 02, 2020 9:02 am
In my picture I imagine that's me right in the middle of me blabbering "AND THEN IN 1971 NIXON TOOK US OFF THE GOLD STANDARD. WE'RE BEING ROBBED OF OUR WEALTH DON'T YOU SEE????"
I would like to see a picture of how your audience reacted ;)
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dualstow
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Re: The GOLD scream room

Post by dualstow » Tue Aug 04, 2020 10:23 am

My skylight’s leaking this morning under the hammering of a tropical storm, but the gold price isn’t too shabby.
traveling...
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vnatale
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Re: The GOLD scream room

Post by vnatale » Tue Aug 04, 2020 10:27 am

dualstow wrote:
Tue Aug 04, 2020 10:23 am
My skylight’s leaking this morning under the hammering of a tropical storm, but the gold price isn’t too shabby.
Had that ever prior happened to you? I would have loved to have had skylights but that potential leaking problem is what has forever held me back.

VInny
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats."
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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Tue Aug 04, 2020 10:41 am

Yaaaaay!!! Which one of you bought gold this week and pushed the price up?

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"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Tue Aug 04, 2020 11:01 am

Wow.
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buddtholomew
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Re: The GOLD scream room

Post by buddtholomew » Tue Aug 04, 2020 12:02 pm

Image
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dualstow
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Re: The GOLD scream room

Post by dualstow » Tue Aug 04, 2020 12:07 pm

buddtholomew wrote:
Tue Aug 04, 2020 12:02 pm
Image
Do you drive a Ferrari, Budd?
traveling...
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buddtholomew
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Re: The GOLD scream room

Post by buddtholomew » Tue Aug 04, 2020 12:24 pm

2020 MBZ GLE350
2006 Honda Pilot

I’ll let you decide which car the wife drives...
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dualstow
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Re: The GOLD scream room

Post by dualstow » Tue Aug 04, 2020 12:35 pm

O0
traveling...
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sophie
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Re: The GOLD scream room

Post by sophie » Tue Aug 04, 2020 1:26 pm

Unreal!!!

With stocks and bonds both up, there's no rebalance happening anytime soon. But, my portfolio is up over 6% since July 1. Incredible...but when is the other shoe going to drop??
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Re: The GOLD scream room

Post by snedgar » Tue Aug 04, 2020 2:29 pm

This happened in 2008-2009, the last time the FED pumped in piles of free money...
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buddtholomew
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Re: The GOLD scream room

Post by buddtholomew » Tue Aug 04, 2020 2:49 pm

Anxiety provoking when all assets move in lockstep, either + or -ve. Definitely prefer +ve.
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Re: The GOLD scream room

Post by pmward » Tue Aug 04, 2020 3:12 pm

Yeah in the short term gold is indeed feeling a bit "toppy" to me. I think a small $100-200 correction would be a healthy and good thing at this point. But who knows? August and September are strong months for gold seasonally speaking. So it could continue to soar a bit longer. Also, interesting that today was also a new TLT all-time closing high (intraday high is still about 4% higher than current though). QQQ also hit an all-time closing high. Something has got to give here. Will the real bullish asset please stand up???
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Smith1776
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Re: The GOLD scream room

Post by Smith1776 » Tue Aug 04, 2020 4:38 pm

The gold price on my gold Apple Watch every day. ^-^


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"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Re: The GOLD scream room

Post by Libertarian666 » Tue Aug 04, 2020 5:54 pm

sophie wrote:
Tue Aug 04, 2020 1:26 pm
Unreal!!!

With stocks and bonds both up, there's no rebalance happening anytime soon. But, my portfolio is up over 6% since July 1. Incredible...but when is the other shoe going to drop??
I think the more significant question is whether it is a size 100 combat boot.

AKA, the crack-up boom.
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Re: The GOLD scream room

Post by Cortopassi » Wed Aug 05, 2020 8:42 am

A good pickle -- I am within 0.2% of my silver band being hit. But if it does, my rebalance will have me also selling a decent amount of gold.

I don't have enough GLD to cover that, so I'd have to dip into physical, which I don't want to do.

Any thoughts of using an inverse gold ETF to rebalance negatively? Not a 2x or 3x, just a 1x so limited decay.

But I am only seeing DGZ, which has minuscule volume and very low assets.

I could just add to the lagging assets which by default will bring the % of gold and silver lower...
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dualstow
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Re: The GOLD scream room

Post by dualstow » Wed Aug 05, 2020 9:03 am

Cortopassi wrote:
Wed Aug 05, 2020 8:42 am
A good pickle -- I am within 0.2% of my silver band being hit. But if it does, my rebalance will have me also selling a decent amount of gold.
...
Any thoughts of using an inverse gold ETF to rebalance negatively? Not a 2x or 3x, just a 1x so limited decay.
...
Why not just get the hell out of silver at a nice price, admittedly giving up future upside.
traveling...
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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Wed Aug 05, 2020 9:42 am

dualstow wrote:
Wed Aug 05, 2020 9:03 am
Cortopassi wrote:
Wed Aug 05, 2020 8:42 am
A good pickle -- I am within 0.2% of my silver band being hit. But if it does, my rebalance will have me also selling a decent amount of gold.
...
Any thoughts of using an inverse gold ETF to rebalance negatively? Not a 2x or 3x, just a 1x so limited decay.
...
Why not just get the hell out of silver at a nice price, admittedly giving up future upside.
Tempted, for sure. Had been underwater for many years. But as with gold, a good portion is physical, and that is even harder to deal with because of the weight!
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