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Hmmmm, I came across this site through a google search and thought it might raise an eyebrow.......

 

http://www.goldpricecrash.com/

 

"We believe gold investment is a mug's game. It's not a sensible long term investment. It's a hedge in tough and uncertain times. But there are those on our forums who disagree."

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You mean the dip from $1,500 to $1,350?

 

Yes, why not? Sell now, wait until it goes to $1,500, and then buy the dip at $1,350.

 

No problem.

 

It won't go straight up all the way, and in any case even a dip like that is more likely than any sort of dip in £. I wasn't suggesting anyone short Gold but just that if you have cash in GM it's probably better off being in $ than £.

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Mine listens. The other day he bought 5 of these 1kg Kangoroos (silver!). Anyway, the rest of the family listens too, but takes no action.

 

GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it?

 

As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father.

 

Anyone else got any succinct analogies?

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GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it?

 

As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father.

 

Anyone else got any succinct analogies?

 

yes but it will cost you £20.

 

Take your father into his garden & set fire to a £20 note right in front of him. Then tell him this is what's happening to his savings, but he doesn't get to see the burning or smell the smoke.

 

Trust me I am in exactly the same situation as we have discussed before. I have actually thought of doing this to them, but it's actually my step father & we don't get on at all. My mother doesn't want to discuss financial matters as he handles everything. That's why they are fooked. <_<

 

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GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it?

 

As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father.

 

Anyone else got any succinct analogies?

 

How about facts, not prediction ? He has lost......

GBPJPY_081023.gif

 

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GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it?

 

As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father.

 

Anyone else got any succinct analogies?

Graphs are better than words.

 

1) UK house prices in gold ounces

 

2) DOW/gold ratio

 

3) GBP price of gold

 

4) inflation adjusted price of gold back to the '70s at least

 

About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!"

 

This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation.

 

And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years.

 

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Graphs are better than words.

 

1) UK house prices in gold ounces

 

2) DOW/gold ratio

 

3) GBP price of gold

 

4) inflation adjusted price of gold back to the '70s at least

 

About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!"

 

This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation.

 

And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years.

 

Thank you COM, RH, Steve and Wren. I'll use a combination of your suggestions (although not the £20 on fire one, GOM (at least not literally)!) and let you know how I get on. The other one I used with him a few months' ago was asking the rhetorical (to me anyway) question "if you have the choice of burying £1,000 of cash or £1,000 of gold which you could only retrieve in 5 years time- what would you chose?". I thought that was quite a good way of illustrating my point and to be fair he didn't disagree. Any yet, no change! :angry:

 

 

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Graphs are better than words.

 

1) UK house prices in gold ounces

 

2) DOW/gold ratio

 

3) GBP price of gold

 

4) inflation adjusted price of gold back to the '70s at least

 

About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!"

 

This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation.

 

And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years.

 

P.S. Re point 3, this is the chart I am going to use.

 

http://gold.approximity.com/Gold_GBP_nominal_real.PNG

 

 

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Where the hell is our Friday smackdown?

Now that the wheels are well and truly starting to fall off the economy, surely the PTB would have to realise the gig is up soon. How can they keep up appearances, by smacking gold down, when it is becoming increasingly obvious to all that the real economy has broken down.

 

Bank of America just lost 35,000 jobs. :o

Looks like GM [so goes America] may go bankrupt.

etc etc etc.

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Thank you COM, RH, Steve and Wren. I'll use a combination of your suggestions (although not the £20 on fire one, GOM (at least not literally)!) and let you know how I get on. The other one I used with him a few months' ago was asking the rhetorical (to me anyway) question "if you have the choice of burying £1,000 of cash or £1,000 of gold which you could only retrieve in 5 years time- what would you chose?". I thought that was quite a good way of illustrating my point and to be fair he didn't disagree. Any yet, no change! :angry:

 

AJC - could you print this out and leave it lying around?

 

http://i34.tinypic.com/2zp15hz.jpg

 

Just as an experiment to see the reaction!

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Where the hell is our Friday smackdown?

 

Year end is approaching very fast, only about 11 trading days left and some of those may be half days. Who wants to be short over the xmas period ???? People are paying for short term bills. It is all about return off money and not return on money over the year end. I dont think we will see smack downs over the next few trading sessions.

 

But im probably wrong :lol::lol::unsure:

 

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P.S. Re point 3, this is the chart I am going to use.

 

http://gold.approximity.com/Gold_GBP_nominal_real.PNG

That's a good one.

 

Another idea. Last month, I think, in the gold thread I posted a link to a thread on the Kitco forum started by an Icelandic gold bug.

 

He used to talk about gold to family and collegues, who thought he was a bit of a nutter.

 

He started the thread about Iceland and people losing savings, having mortgages and car loans etc, go up, all that stuff. If I find the link I'll post it here.

 

This is real grassroots stuff. He put most of his savings into gold and silver (GM I think) and thereby protected them. This might get people thinking if they read that thread.

 

On edit: Iceland thread at Kitco started 28 Oct:

https://www.kitcomm.com/showthread.php?t=26956

Yes, my gold is outside of Iceland. I will sell it and transfer (electronically) the proceeds of it to Iceland when the time is right.

Googling I found an Iceland Pt. 3 thread started 1 Dec:

https://www.kitcomm.com/showthread.php?t=29208

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I can and I will. Do you mind if I pass it off as my own!

 

Just kidding, it must have taken an age to produce.

 

It was easy as I was standing on the shoulder's of giants! http://video.google.com/videoplay?docid=-8484911570371055528

 

Created the diagram to help myself understand it all and to see if it was of use to the common man in order to get interested!

 

Yeah, you can pass it off as your own, but then people will start to look at you strangely!

 

 

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