Every gold dealer wants you to believe that.
Just like every banker wanted you to believe that home values only go up.
We know how that turned out.
There is a gold bubble for sure, but it isn’t with physical gold, it’s with paper gold. It will be bigger than Madoff when people start demanding their actual gold.
Keep pulling that D lever. We’re in the very best of hands.
Gold hit an all-time high today.
From what I see and hear Canadain Money will stay and not go down Like many others will… Roy
Sell your gold. By land. You can mine gold; you can print dollars; you can build all the homes you want; there is only so much land.
Land is one of my 4 favorites:
- Physical gold
- Raw land
- Your business
- Heavy equipment
They are all hedges against the coming hyperinflation.
Nick, does this mean that I can ask my wife to by a Hummer?
I don’t know. I don’t understand that whole “ask my wife” thing. Not my M.O. By nature, the fairer sex is (not always, but generally) too risk adverse to offer sound financial advice, IMHO.
Hey Nick,
I’ve never bought, nor sold any gold. Is it relatively easy to buy, and then convert back to cash when you need it. I’ve got about 50K in cash that I need access to, but don’t want to leave in a basic bank account or money market.
Dump your cash, gold going to $5K/ounce. Buy physical gold (coins or bars), not paper gold as paper gold is a big Ponzi scheme. If you leave your cash in a money market, it will earn no interest and actually devalue due to inflation we’re running up against. Get it out.
Gold is very easy to convert back to paper money and gold is accepted everywhere in the world.
BTW: Gold broke another all-time high today. Get used to me saying that for the next couple years.
How and where to you go to buy and sell it? The only place I know of is a coin store, and jewelry stores. That doesn’t really seem like the best place to go.
There are many reputable gold brokerage houses where you can buy and sell precious metals in bulk, coins (go with high quality if you go coins-proofs). You can set up an IRA with gold (like Nick said though, real gold, not gold on paper). Goldline, Swiss America are only a few. Go in knowing it is for long term investment though.