Gold explained

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Walt

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So for a while there, alt right posters were claiming that gold was going up, when it was actually going slightly down. It has since started going up, and I have more than tripled my money, but why were they so wrong before?

There was all the hallmarks of gold going up. Inflation was being threatened, stocks were crashing, trade was going to hell, prospects of recession were all but certain. etc. Gold should have been going up.

But bonds were crashing too... Especially Treasury Bonds. Treasurys usually seen as a safe haven, are not being seen as a safe haven with trump in office. Besides Treasurys are used in escrow accounts for trade, which is going to be less needed in the future.

Anyway, as bonds and stocks crashed, people began getting margin calls. They had borrowed to invest, and now the security had dropped below an acceptable level. They were forced to sell what they could to stave off collapse, which included gold. It is never good to sell at a loss, but if you have to you have to.

What confuses me is that alt right posters still believed gold was going up, even when it was going down. They must not keep up with even the most basic market news.

Anyway, gold went up 12.3%, and GLD $300 calls have gone from $6.41 to $21.675. And the ones I have do not expire until Sept 30th.
 
Walt said:
So for a while there, alt right posters were claiming that gold was going up, when it was actually going slightly down. It has since started going up, and I have more than tripled my money, but why were they so wrong before?

There was all the hallmarks of gold going up. Inflation was being threatened, stocks were crashing, trade was going to hell, prospects of recession were all but certain. etc. Gold should have been going up.

But bonds were crashing too... Especially Treasury Bonds. Treasurys usually seen as a safe haven, are not being seen as a safe haven with trump in office. Besides Treasurys are used in escrow accounts for trade, which is going to be less needed in the future.

Anyway, as bonds and stocks crashed, people began getting margin calls. They had borrowed to invest, and now the security had dropped below an acceptable level. They were forced to sell what they could to stave off collapse, which included gold. It is never good to sell at a loss, but if you have to you have to.

What confuses me is that alt right posters still believed gold was going up, even when it was going down. They must not keep up with even the most basic market news.

Anyway, gold went up 12.3%, and GLD $300 calls have gone from $6.41 to $21.675. And the ones I have do not expire until Sept 30th.
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the price of gold is manipulated, to hide the true horror of the economy.

numbers on a screen.
 
Oh and the $6.41 was when I moved to Sept 30th expiration dates. I bought the original June 30th expiration dates between $1.70 and $2.41, so that is a 900% rise, or 10 times rise. I really should have put more money into it.
 
Well, Walter, we know that you have a “whole lot of money.”

You have told us over and over and over.

Are you still reporting to your Uber Eat’s job on Sunday afternoon…at 5PM?
 
Neoclitorus said:
and the ptb will not let it rise to reflect the true worthlessness of the money.
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I know I am making a lot of money off the rise of gold, but I question the worth of gold. Money can be used to pay taxes, and to buy goods and services from other people who might want to pay taxes. Money is infinitely fungible. Gold is non-corrosive, conductive, shiny, and kind of pretty; these are hardly things of amazing worth in the modern world.

And gold is so heavy and difficult to exchange. It is difficult to use in commerce.
 
Earl said:
Well, Walter, we know that you have a “whole lot of money.”
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Actually, you are using that out of context. I did not actually say I have a whole lot of money. I said I had a whole lot of money in a Roth IRA. If you have a $1,000 in your wallet, you have a whole lot of money in your wallet, but you do not have a whole lot of money.

There are over 3,000 billionaires in the world, but only one known Roth billionaire. Getting money in a Roth is very difficult, so somewhat unusual.

While in normal times, this would be great for me, these days it is a little worrisome. A Roth is very tied to the USA, and trump is doing a lot of destruction to the USA.

Earl said:
Are you still reporting to your Uber Eat’s job on Sunday afternoon…at 5PM?
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I do not work for Uber Eats, and do not start work at 5:00PM. Again, knowing the truth, I know when you are lying about what I said. The computer systems are crunching risks until 6:30, so I do not start work until 6:30... When I do have to go to work which is getting rarer these days. I am working more on other projects from home.
 
Walt said:
I know I am making a lot of money off the rise of gold, but I question the worth of gold. Money can be used to pay taxes, and to buy goods and services from other people who might want to pay taxes. Money is infinitely fungible. Gold is non-corrosive, conductive, shiny, and kind of pretty; these are hardly things of amazing worth in the modern world.

And gold is so heavy and difficult to exchange. It is difficult to use in commerce.
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A year or 2 ago I told you war would cause oil to go up to $130 a barrel, so if you think the US will bomb Iran, now is a good time to buy oil.
 
goat said:
A year or 2 ago I told you war would cause oil to go up to $130 a barrel,
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Oil is at $64 to $65 a barrel now, so we have a long way to go. Bush, and Bush's wars did take it up to $147.27. That was in a time when the huge oil companies could push up the price more. There are a lot of smaller producers now.

goat said:
so if you think the US will bomb Iran, now is a good time to buy oil.
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trump allowed oil to go negative. I got a bunch of panicked messages from a few friends saying oil was below $10, and I should buy. I slept through them, because I was tired. When I woke up and heard the messages, I rushed to my computer, only to see oil had gone negative. I did not even know that was possible.

It wiped out a lot of people. This might be a good time to buy oil futures, but I have seen that trump will allow the markets to collapse, and even go negative. That is making me worried to invest in oil futures.
 
Walt said:
Oil is at $64 to $65 a barrel now, so we have a long way to go. Bush, and Bush's wars did take it up to $147.27. That was in a time when the huge oil companies could push up the price more. There are a lot of smaller producers now.


trump allowed oil to go negative. I got a bunch of panicked messages from a few friends saying oil was below $10, and I should buy. I slept through them, because I was tired. When I woke up and heard the messages, I rushed to my computer, only to see oil had gone negative. I did not even know that was possible.

It wiped out a lot of people. This might be a good time to buy oil futures, but I have seen that trump will allow the markets to collapse, and even go negative. That is making me worried to invest in oil futures.
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OPEC is putting the hurt on US oil and gas companies. How much does the price of oil have to be for the Permian Basin oilfields to break even? Minus their subsidies.
 
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