General Question

syntak's avatar

Have you bought gold and silver yet?

Asked by syntak (275 points ) April 9th, 2008

the dollar is droppin’ folks. hang on to the gold standard. dont go broke.

Observing members: 0 Composing members: 0

26 Answers

Mtl_zack's avatar

im from canada, so i dont need to :D :P

Charlie's avatar

I baught $1000.00 of silver coins. Kept a bunch for my collection and sold the rest and got 50% more then what I paid for the original batch. So I baught more which was a dud but resold that at a 25% profit. Silver isn’t going up, the value of the Federal Reserve Notes (Promises to pay, HA!) is going down! I deal in silver for silver and am still comeing out ahead

delirium's avatar

Okay…. I can’t not say this… but its spelled b-o-u-g-h-t. Bought.

shockvalue's avatar

Yet? Are you kidding!? I bought them when the came out, I beat them pretty quick but the elite four were sort of challenging my first time around since I had waaay too many normal type.

Mtl_zack's avatar

uh, @shockvalue: what?

TheHaight's avatar

haaha your hilarious delirium :p

delirium's avatar

LMAO@shock value.
I collect eevee. Get two games, restart one and continually trade eevees over. They’re so cute!

shockvalue's avatar

Haha, now without stones that is WAAY too many normal type. And agreed, Eevee are really cute, but think I’d favor a Vulpix.

Randy's avatar

What a tangent you guys have gone off on. Crazy!

As for the question, I’m not into the gold or silver. I have an uncle who is and last I heard he was making a killing. I know very little about it though.

bulbatron9's avatar

@del & shock are you talking about pokemon, or something like that?

dpena2009's avatar

Someone obviously didn’t read the whole thing…

dpena2009's avatar

Someone is making a fool out of themselves…

dpena2009's avatar

(cough) shockvalue (cough)

bulbatron9's avatar

dpena2009 the triple post was completely unnecessary! Also, I think it was a joke!

shockvalue's avatar

Yeah! What Bulbasaur said!

dpena2009's avatar

Oh… haha… riiiiight… I knew that… Whatev.
@shckvalue: Yess!

delirium's avatar

Well, i’d collect the eevees so that I could have all the evolved forms, of course.

simone54's avatar

I don’t understand. Why should I buy gold?

Are you saying the dollars is going down so if I buy gold now they will keep going down and I can sell my gold same price I bought it?

Randy's avatar

@ simone54, Gold is the backing for the dollar. Without gold, the dollar is useless.

simone54's avatar

I thought that they changed it. I thought the dollar wasn’t backed up by gold anymore.

Randy's avatar

Not as far as I know. That’s the first I’m hearing of this. What is the backing of the dollar then? Something has to give it value, its just paper.

simone54's avatar

It’s legal tender. Why does it need to be back by something. Gold is only worth anything because the money.

Randy's avatar

You make a good point. Gold is something people want, which gives it value, but I know I want money, so I guess it doesnt need backed by anything.

cheebdragon's avatar

wth are eevees?

fireside's avatar

Nothing backs the dollar. In 1933, they changed the verbiage on the dollar.
Before then, every dollar was exchangable in Gold, now it is simply “legal tender”.

The reason Gold goes up as the dollar goes down is that is can be traded for other currencies and loses its value at a lower rate.

ItsAHabit's avatar

Gold and silver are not investments but speculations. They provide no income (interest or dividends) until sold. However, they can also serve as insurance against hyperinflation or monetary collapse. We don’t expect to make money on insurance; it’s something we pay for. So if you hold gold and silver as insurance, you’re not concerned about making money but in protecting yourself against disaster. If they increase in value, great; if they don’t, that’s not a problem. Either way, you can sleep easily.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther