I predict

[nunthewiser]

apart from the fact that Gold is and has been used as a form of currency since adam was a kid , i suggest you google gold and its uses before u call it as only used for trinkets

cheers

THATS MY QUOTE

 

[MrBurns]

Prediction adjustment - down 100 not up, if the US can reverse like that so can I

Only out by 20 points.

 

[nunthewiser]

thanks joe

 

[Ageo]

THATS MY QUOTE

i wasnt referring to your post but noika's post

 

[marcadrian]

I don't quite get gold. We dig it up out of a hole (somewhere in Africa?) and then put it back into a hole in a bank (somewhere in the West?). It has no utility, doesn't smell nice, and can't be eaten. To whoever made the comments about the wogs get your facts right - they moved onto diamonds long ago after their educated kids went to college and became doctors and lawyers. I should know, I am one of those kids and diamonds are expected now

So is it wrong to actually be excited about what is going on now? All these years i've felt I wasn't as good as everyone else making bucket loads of money. Now it is my turn to sit on my lump of cash and watch as people's equity evaporates. Does anyone else feel this way?

 

[nunthewiser]

i wasnt referring to your post but noika's post

LOL yeah i know but the quote originally came out with my name attached , was obviously a glitch somewhere , joe fixed it all sweet.

 

[Ageo]

I don't quite get gold. We dig it up out of a hole (somewhere in Africa?) and then put it back into a hole in a bank (somewhere in the West?). It has no utility, doesn't smell nice, and can't be eaten. To whoever made the comments about the wogs get your facts right - they moved onto diamonds long ago after their educated kids went to college and became doctors and lawyers. I should know, I am one of those kids and diamonds are expected now
/QUOTE]

I made that comment and yes i am a wog (italian), and unfortunately your wrong, people dont collect diamonds and when there is religious events like a baptism, communion etc.. they give gold not diamonds. Diamonds are a prestige luxury and once its cut you cant melt it down again (thats why they are higher in value than gold). Everyone you know just ask them how much gold they have compared to diamonds. Also gold is much easier to value and much much more liquid. Out of all the precious metals gold is the best by far in terms of overall investment (i.e value, liquidity, storage etc..).

 

[Smurf1976]

We can never go back to Gold as backing for money. Their is a finite amount of gold which means there would be a finite amount of money available. The expansion or creation of credit is what has allowed companies to go and borrow money to do whatever they want. If you do away with credit creation, companies cannot borrow money, hence no production and no advancement in technology etc.

We just have to have tighter controls or more transparency int he system to ensure that we don't have carnage as a follow up to super excess.

It amazes me that people think going back to the Gold standard will make a difference, yeah it certianly will but we would then have to go back many centuries and see what happens when people can't get acccess to money, they starve and their is many more poor.

It worked perfectly well just a few decades ago and there was plenty of business development and technological advancement going on at the time.

What's changed that would stop it working now?

 

[Glen48]

We need to tie Paper money to some standard or reference point and Gold or the price of is the answer We are in this trouble because we created money out of nothing.

 

[marcadrian]

Ageo, anch'io sono italiano. I have enough gold from my baptism and communion to fund a small arms race. It is an old school way of thinking though... I can't bring myself to fork out cash for it. My wife is from a Viet background and they love gold too, but when they can they upgrade to diamonds.

I don't know much about gold... what happens when they discover a new mine somewhere and the supply increases by a huge amount? Does it dilute the existing value?

 

[Dukey]

Okey Dokey, Mr Delta. Many thanks. Will prepare accordingly.

Will file this away with the prediction from my Seventh Day Adventist friend who advises that the Bible foresaw the fall of the mighty USA. She suggests we should prepare for the coming take over of the world and all its functions, financial and otherwise, by The Papacy.

Now, will go and consult my dog who has probably more wisdom to offer than either the stars or the Bible right now.

i think you're onto a good thing there Julia... your dog that is...

my budgie says today is the day.... and 4291(.3) IS the bottom... so I'm gonna go out on a limb and CALL IT... RIGHT HERE,.... RIGHT NOW....
cause my budgie said so......
So remember it folks - Dukey and his budgie.... Oct 9 2008: XAO at 4291 = THE BOTTOM.

yeehah....:cowboy:

..... and if Inspector Rex (my budgie) is right - he'll buy you all a bag of birdseed.

 

[nioka]

i think you're onto a good thing there Julia... your dog that is...

my budgie says today is the day.... and 4291(.3) IS the bottom... so I'm gonna go out on a limb and CALL IT... RIGHT HERE,.... RIGHT NOW....
cause my budgie said so......
So remember it folks - Dukey and his budgie.... Oct 9 2008: XAO at 4291 = THE BOTTOM.

yeehah....:cowboy:

..... and if Inspector Rex (my budgie) is right - he'll buy you all a bag of birdseed.

And if he is wrong here is a good way to cook a budgie.

Place one dressed budgie in a saucepan of water. Add two onions, a little salt and a glass marble. Boil for 3 hours. Eat the glass marble, throw away the rest.

 

[grace]

i think you're onto a good thing there Julia... your dog that is...

my budgie says today is the day.... and 4291(.3) IS the bottom... so I'm gonna go out on a limb and CALL IT... RIGHT HERE,.... RIGHT NOW....
cause my budgie said so......
So remember it folks - Dukey and his budgie.... Oct 9 2008: XAO at 4291 = THE BOTTOM.

yeehah....:cowboy:

..... and if Inspector Rex (my budgie) is right - he'll buy you all a bag of birdseed.

Geez, I hope you're right. I can't agree with you though at this point in time.

I think when Alan Kohler now presents Finance at the beginning of the news, instead of at about 7.20pm, and the media just won't leave the subject alone, the feeding frenzy continues.

Perhaps we might be in for a little bounce though.

 

[Ageo]

Ageo, anch'io sono italiano. I have enough gold from my baptism and communion to fund a small arms race. It is an old school way of thinking though... I can't bring myself to fork out cash for it. My wife is from a Viet background and they love gold too, but when they can they upgrade to diamonds.

I don't know much about gold... what happens when they discover a new mine somewhere and the supply increases by a huge amount? Does it dilute the existing value?

You see having gold from a small age cant be that bad? i mean look how much its worth now? people dont realise but 1kg of 18ct gold jewellery (even if its broken) is worth around $30,000 and yes thats selling it as is (not refining etc..).

Diamond values are worked out differently (cut/size/clarity etc..) i had 1 lady sell me her gold which she was shocked to work out that their was $50,000 in her jewellery chests (she was indian and thats all the gifts she had collected over time). As for your question regarding supply well it can and it cant dilute the existing value but i will let someone with more experience answer that question

 

[Gundini]

And if he is wrong here is a good way to cook a budgie.

Place one dressed budgie in a saucepan of water. Add two onions, a little salt and a glass marble. Boil for 3 hours. Eat the glass marble, throw away the rest.

And for those who don't know how to cook, simply take the ingredients out of the cupboard or cage, and throw them in the bin. This way, you still get to enjoy the glass marble, you don't have to wash the saucepan, and you save the valuable resource, water!

 

[Dukey]

And for those who don't know how to cook, simply take the ingredients out of the cupboard or cage, and throw them in the bin. This way, you still get to enjoy the glass marble, you don't have to wash the saucepan, and you save the valuable resource, water!

How dare you nasty folks malign Inspector Rex!!! ... or his predictions.

Didn't you know - Nostradamus had a budgie?
... behind every great Man or woman..... there is a small bird. tweeting merrily away.

 

[Gundini]

How dare you nasty folks malign Inspector Rex!!! ... or his predictions.

Didn't you know - Nostradamus had a budgie?
... behind every great Man or woman..... there is a small bird. tweeting merrily away.

Quite the contrary, I am very fond of the budgie. In fact, I remember the "bell ringer" made a fabulous contribution in alerting us to a major turning point some years ago!

Is this the culprit?

 

[Dukey]

Goddamn!!
thems big budgies you got there.... whad you feed 'em?
Equine growth serum?

 

[Fleeta]

Anyone care to predict how long it will take to get from the bottom (wherever that is) to hit a new high? Isn't it normally about 3-5 years? Any reason why it should be longer this time?

 

[Sean K]

Anyone care to predict how long it will take to get from the bottom (wherever that is) to hit a new high? Isn't it normally about 3-5 years? Any reason why it should be longer this time?

Radge put 7 years on it. Took 10 years to recover from the last 50% drop I think I heard, but that might have been the Dow. I reckon somewhere between now and then.