Well how about that.

http://www.bloomberg.com/news/2011-04-19...llar-slump.html

Closing in on my $1,700 profit taking point.

But with the down-grading by S&P, I may have to think about whether to sell it all or keep some as insurance.

When you sell all your gold don't forget about your poor friends here at SimHQ.

Friends ? I have friends here ?

Yes my friend. I am actually a Nigerian prince and I will help you with tax loopholes. Please contact me with all of your information.

I thought you were a prince from Zamunda?

Zamunda - Nigeria who the #%&*$# cares, just send me the damn information.

Well I suppose Warren Buffett made another couple of billion today.
Hey Warren if you are out there, I've tried to get in on the stock trading but my Krispy Kreme stock went belly up.
Can ya spare a billion or so buddy ol' pal?
Just to get me back on my feet of course.

The rich get richer, and the poor get poorer.

only in the sense of inherently valuable commodities versus crappy, abused fiat currency...

argh, I should have bought at $800.

Well, hindsight is always 20/20...I too wish I had invested when it was $300-$400 in 2000/2001. I was just too young, dumb, and full of *** to capitalize. Now I sure as hell can't afford it lol

Personally I recommend to invest in canned and dried food, cigarettes and rifle ammo.

Also chewing gum and harsh language.

Maybe. My point was I was listening to all the "buy gold now" peeps back when gold was $400 an ounce, but I live pretty much from paycheck to paycheck (like a whole lot of people), so even if I had invested in gold, it wouldn't have been that much of a bump on my personal "net worth", which is, and has always been, pretty much #%&*$#.

And now, as I get to the end of my useful working life, I sometimes wonder why I am a staunch conservative? Well, because I believe it is right, but sometimes I feel like I may have shot myself in the foot, in more ways than one.

Maybe I am a potential Marxist?

So, gold is now at $1598-9..

Still sitting on it, OG?

"He's old grognard!! ***wah wah wah***.

Don't know for sure about OG, but I'm betting he is really smiling right now.

I sure am sittin' on mine, we both bought at about the same time, and I'm looking at $4-$5000 oz before I have to start selling, in a few years. I retired at 47, If it wasn't for gold coins.....I'd be living out of a shopping cart by 65.

Don't know where one should go right now....other than 'out' of the dollar.
But hey, what would I know.....gas $5 a gallon?, 'nawwwwwww'....lol....right...

It's over $1,600 this morning. My sell target is $1,700, but I will have a tough choice. I just don't see good news in the world's economy and may hold onto it as "insurance". The rest of my portfolio is OK, and I don't need to cash in on the gold. So I have a three tiered approach right now:

Stock and commodities if the economy does well.

Gold if it goes badly.

And guns if it goes REAL badly.

It's at $1602.80
What ever you do....don't sell the guns.

Be careful. If you are investing in gold I'd recommend only holding physical. I made a good move shorting a Silver ETF a couple months ago..but it is notching higher again.

http://www.oilbull.com/silver-chart/

If the economy crashes though commodities won't be able to hold on to gains..and if the economy truly crashes all paper holdings will be worthless anyway. Places that take your trade then store your PM in their vault probably won't be keen to give you your holdings.

Glad you are making out well OG. Just be careful you don't get caught on the other side when all the bankers and Goldman Sachs decides to make the conference call and go short collectively. When every other commercial on Fox News is shilling for gold you might suspect there is a bubble forming.

Good luck!

Guns are a great investment.

Looking for a Ruger Mark III as we speak..