worst gold fund for 2019

Discussion of the Gold portion of the Permanent Portfolio

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Kbg
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Re: worst gold fund for 2019

Post by Kbg » Sat Dec 07, 2019 9:28 pm

ROFL...Based on my reading of lots of history I totally do not agree with the HB take on the usefulness of gold as a practical form of exchange during a zombie apocalypse.

Let’s go with history that everyone knows: You are Jewish, living in Germany and it’s the 1930s. Make the case that gold was helpful. (I will concede it was if you had a lot of it in a foreign country and you had dual residency in the country you were holding it in...in 1928.) What was far more valuable was to have a govt official/friend who could get you the necessary exit papers.)

Other than that, you were screwed.
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mathjak107
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Re: worst gold fund for 2019

Post by mathjak107 » Sun Dec 08, 2019 2:15 am

i agree . in those crap hits the fan situations bartering skills are likely going to be much more important ..when money became worthless in germany bartering to get what you need was the main way goods and services were provided.

i see gold as just another asset class for investing in , end of its usefulness , except for wearing shiny objects.

it is likely the first time you flash the gold you thought that would buy your way to freedom it would be stolen from you .
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Re: worst gold fund for 2019

Post by Kbg » Sun Dec 08, 2019 3:19 am

i see gold as just another asset class for investing in , end of its usefulness , except for wearing shiny objects.

it is likely the first time you flash the gold you thought that would buy your way to freedom it would be stolen from you.

Exactly
Simonjester wrote: in the book "The Modern Survival Manual: Surviving the Economic Collapse Paperback – September 11, 2009" written by a guy that survived an actual economic collapse, he recommended gold chains as a "survival gold" for exactly the above reason..
it allows you to break off a few links and barter, while giving the appearance of having limited resources and avoiding robbery.
its a good book for "survival realism" as apposed to most of the survival books out there that are just fap material for guys that like to imagine themselves as post apocalyptic tough guys..
it has been recommended a few times on this forum.. definitely a good read on the topic..
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mathjak107
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Re: worst gold fund for 2019

Post by mathjak107 » Sun Dec 08, 2019 8:39 am

to be be honest i had enough of those visions of doom from the goldbug newsletters i used to get more than 30 years ago .
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ochotona
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Re: worst gold fund for 2019

Post by ochotona » Sun Dec 08, 2019 8:52 am

"Cuban style" gold chains have big links... Never thought of the barter connection! Hmm... Venezuela and Zimbabwe style gold chains must be similar?
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mathjak107
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Re: worst gold fund for 2019

Post by mathjak107 » Mon Dec 09, 2019 8:49 am

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ochotona
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Re: worst gold fund for 2019

Post by ochotona » Mon Dec 09, 2019 8:54 am

Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
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mathjak107
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Re: worst gold fund for 2019

Post by mathjak107 » Mon Dec 09, 2019 8:56 am

the point is what we worry about tend to have very very very low probabilities of playing out in these doom scenarios ... sh*t will always happen to someone somewhere ...that is a given but in life we all plan around the odds of it not being us or else why plan , why save , why even work or start a family .

the reality is we can dream up all kinds of scenarios in our heads , and somewhere someone will actually have it happen . i mean those companies you mentioned were fraud . crimes happen everywhere.

but these visions of this apocalyptic zombies attacks and gold being the way out are stretching what actually will likely play out in reality
Simonjester wrote: it comes down to realism vs fantasy and how much you invest, if you own a few gold chains and a handful of small silver it has cost you next to nothing for some "partial coverage worst case insurance", if you spend your life savings digging bunkers you have entered the survivalist fantasy world at a horrible cost...
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ochotona
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Re: worst gold fund for 2019

Post by ochotona » Mon Dec 09, 2019 9:20 am

Simonjester wrote: it comes down to realism vs fantasy and how much you invest, if you own a few gold chains and a handful of small silver it has cost you next to nothing for some "partial coverage worst case insurance", if you spend your life savings digging bunkers you have entered the survivalist fantasy world at a horrible cost...
Yuli Gurriel, Cuban born and raised Houston Astros 1st baseman. There's much worse ways to spend your money than on Cuban gold chains. If you're digging bunkers, you've got a worm in your brain.

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dualstow
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Re: worst gold fund for 2019

Post by dualstow » Mon Dec 09, 2019 10:07 am

If I had a nice piece of land and the funds, I would dig a bunker. However, it would also be my man cave den and I would watch movies in there, nightly.
RIP Marcello Gandini
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Re: worst gold fund for 2019

Post by Kbg » Mon Dec 09, 2019 2:00 pm

ochotona wrote:
Mon Dec 09, 2019 8:54 am
Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
I’m not sure what the above has to do with gold, but I will assume protection from loss.

So let’s put the above in perspective...tell it to the person who has 101K of gold in their account for every 10K invested vs his/her “risky” cousin who now has 944K for the equivalent in stocks...looks like a 94% opportunity loss to me (since 1977.)

Shall we get down to golds essentials now? It’s a highly volatile form of cash. Too much of it is detrimental to your financial well being in terms of opportunity cost. Younger investors particularly should not hold much of it if any at all.
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Re: worst gold fund for 2019

Post by dualstow » Mon Dec 09, 2019 3:03 pm

Kbg wrote:
Mon Dec 09, 2019 2:00 pm
ochotona wrote:
Mon Dec 09, 2019 8:54 am
Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
I’m not sure what the above has to do with gold, but I will assume protection from loss.
I think he's saying entities like Lehman and Enron seemed unlikely to fail, but they did.
RIP Marcello Gandini
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Re: worst gold fund for 2019

Post by mathjak107 » Mon Dec 09, 2019 3:21 pm

The blue chip graveyard is full of failed blue chip companies ..but that has nothing to do with the apocalyptic scenarios those who want to hoard physical gold think up
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Re: worst gold fund for 2019

Post by vnatale » Tue Jan 28, 2020 8:35 pm

mathjak107 wrote:
Fri Dec 06, 2019 9:33 am
nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
The handful of coins I do own were bought in the mid-90s from Benham Capital. It seems that they are no longer in business?

VInny
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: worst gold fund for 2019

Post by Libertarian666 » Tue Jan 28, 2020 9:24 pm

vnatale wrote:
Tue Jan 28, 2020 8:35 pm
mathjak107 wrote:
Fri Dec 06, 2019 9:33 am
nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
The handful of coins I do own were bought in the mid-90s from Benham Capital. It seems that they are no longer in business?

VInny
I used to have a Benham Capital T-Bill account, if I recall correctly, but it was a long time ago.
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mathjak107
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Re: worst gold fund for 2019

Post by mathjak107 » Wed Jan 29, 2020 4:22 am

Libertarian666 wrote:
Tue Jan 28, 2020 9:24 pm
vnatale wrote:
Tue Jan 28, 2020 8:35 pm
mathjak107 wrote:
Fri Dec 06, 2019 9:33 am
nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
The handful of coins I do own were bought in the mid-90s from Benham Capital. It seems that they are no longer in business?

VInny
I used to have a Benham Capital T-Bill account, if I recall correctly, but it was a long time ago.
me too. i used to use their treasury zero coupon target date funds ... i think the long term fund i used back in the 1980's hit it's date already lol
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Re: worst gold fund for 2019

Post by Libertarian666 » Wed Jan 29, 2020 2:21 pm

mathjak107 wrote:
Wed Jan 29, 2020 4:22 am
Libertarian666 wrote:
Tue Jan 28, 2020 9:24 pm
vnatale wrote:
Tue Jan 28, 2020 8:35 pm
mathjak107 wrote:
Fri Dec 06, 2019 9:33 am
nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
The handful of coins I do own were bought in the mid-90s from Benham Capital. It seems that they are no longer in business?

VInny
I used to have a Benham Capital T-Bill account, if I recall correctly, but it was a long time ago.
me too. i used to use their treasury zero coupon target date funds ... i think the long term fund i used back in the 1980's hit it's date already lol
I had the 2010's, which obviously matured 10 years ago.
But when I had them I figured out that they had stale pricing and I could arbitrage the price.
I tripled my IRA in a few months and then they told me to cut it out and actually changed their terms of service to restrict the number of transfers out. :D
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