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[side_show]

So for someone like me, about to enter her 30's , with lots of savings, but no investments or stocks is it worthwhile to buy now?  Whats the best thing to do with my savings?  A friend who put a lot of study into the Canadian side thinks gold is honestly the best way to go.  True?

[Nabubrush]

Yeah, for sure.  I am probably only going to be there for a couple months, but I also have I friend in Denver who I will probably hang out with. So yeah...  we gotta do this before summer but after I accomplish basic things like getting a job, etc.

I'd like to take another opportunity to say that if any of y'all drop through the Pacific Northwest and specifically Portland, I will show you a good time that I can almost promise will not end up with anyone going to jail.

[AlohaDawg]

So for someone like me, about to enter her 30's , with lots of savings, but no investments or stocks is it worthwhile to buy now?  Whats the best thing to do with my savings?  A friend who put a lot of study into the Canadian side thinks gold is honestly the best way to go.  True?

Gold is almost always a good investment for mid-to-long termers, and particularly when economies are sluggish. I put a lot of my investiments into gold and metals production a while ago.

[wombat]

I have never understood why gold is a good investment. I mean, if the economy was rotten, why would anyone want to buy any gold that I have?  They can't eat it, or burn it to keep warm. What am I missing?

[AugustWest]

I have never understood why gold is a good investment. I mean, if the economy was rotten, why would anyone want to buy any gold that I have?  They can't eat it, or burn it to keep warm. What am I missing?

I think the theory is that gold is a medium of exchange that will retain its value even in a severe social crisis.  If there's a civil war or hyper-inflation or some such, people will still place a certain value on gold that they may not continue to place on government backed pieces of green paper.  When the price of gold goes up, it's a sign that things are getting more turbulent in the world.

Of course, when things get even worse, gold becomes valueless on only things that you can eat, burn, wear or screw have value.

[Doc]

Yeah, gold is just valuable because there is a very definite limit to how much of it there is so it can't suffer from inflation but since it's not actually usable for anything it doesn't fluctuate the way, say, oil does.

[Arachno-capitalist]

I have never understood why gold is a good investment. I mean, if the economy was rotten, why would anyone want to buy any gold that I have?  They can't eat it, or burn it to keep warm. What am I missing?

Scarcity drives value in this world. Water, the most "valuable" thing I can think of, is given to me basically for free whenever I use a sink, people in cities open up fire hydrants and just let it gush into the street. Diamonds on the other hand have a very limited industrial utility but people kill for them, fight wars for them.

In the best economic conditions, there is full faith in paper currency and no one cares to carry around hunks of metal. In the worst economic conditions, government fiat currency has an inherent risk of inflation.

There has never been a time in human history when civilization did not value gold over other things. It is a concentrated material of wealth that you can look at and touch and give to people for other things.

In short its a hedge against inflation and there is only a finite amount of gold going around, God isn't making any more of it.

EDIT: Doc and I posted at the same time and he said it in fewer words. Also, I own stock in gold mines.

[littlefallsmets]

Yeah, going for gold is kind of... betting that the world will MOSTLY collapse but not fully.

It is my instinct to reckon that things'll either stay pretty much like this or go back to the Dark Ages... people are too used to this general sort of life and unless things completely go in the tank, people'll figure out a way to keep the current mess going.

I reckon there'll be a lotta "survivalists" happy that their little gold rock beats money paper... until scissors quickly beats both. Here's hoping a space ship'll have gotten me by then... interesting as it sounds, I basically don't wanna hang out and watch up close.

[Nabubrush]

More to the diamonds thing than scarcity, though, eh A-Cap?

[wombat]

Yeah, going for gold is kind of... betting that the world will MOSTLY collapse but not fully.

That makes sense. I guess I usually worry most about the total collapse. The world where, like, they don't manufacture contact lens solution and organic dog kibble anymore, and such.

[Nabubrush]

Yeah, gold is just valuable because there is a very definite limit to how much of it there is so it can't suffer from inflation but since it's not actually usable for anything it doesn't fluctuate the way, say, oil does.

This isn't actually true. it's an integral component of these, and I think we all agree the world would be poorer for their loss. Plus lots of electronics use it, and that stupid schnapps, or whatever it is.

[Golfhaus]

Ah, the 'shlager. We had a friend who couldn't believe they'd put REAL GOLD IN THERE, to which another friend classically responded, "Well, you know, if you learn to shit JUST RIGHT, you can get it all back."

[KeithHernandez]

That garbage and champagne are my two most hated alcohol beverages.

[Nabubrush]

I don't think I've ever had any of that shit, but I'm not sure it would beat out Boone's Farm, Keystone, Mike's hard lemonade, blackberry brandy, Zima, PBR, Schmidt, or Bud*.

*That's just for A-Cap, because I'm in that sort of mood.

[KeithHernandez]

All of those things are drinkable though.  Well I have never had zima or MH lemonade, but I am sure they are better.  I don't really like schnapps too much in general though.

The worst thing I have ever drank is nighttrain or whatever that shit is called.  MD20/20 is drinkable, so is boones farm.  That stuff is impossible.  Champagne is still the worst though, I can not have more than a glass of that stuff without throwing up, passing out and being hungover for at least 2 days.  No idea why.