Investors going for Gold

Question 1: How can the U.S. Gov. prevent a collapse of the economy if people worldwide are buying gold and dumping the dollar?

Answer 1: Make a worthless stock and call it GLD people are so stupid they will think they are buying real gold...Then when they economy crashes all they have is a piece of worthless paper.

Question 2: How can we tax gold?
Answer 2: Make a worthless stock that people will buy and sell and they have to report to the gov.

http://www.thestreet.com/_yahoo/funds/gregggreenberg/10195123.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

ETF Investors going for Gold
By Gregg Greenberg
TheStreet.com Staff Reporter
11/18/2004 10:49 AM EST
Click here for more stories by Gregg Greenberg

There's gold on Wall Street -- at least for ETF investors.

Traders awoke Thursday to find a new gold-backed security, StreetTracks Gold (GLD:NYSE - commentary - research), trading on the New York Stock Exchange under symbol GLD.

The exchange-traded fund is sponsored by a unit of the World Gold Council. It enables investors to participate in the gold bullion market, with each share representing one-tenth of an ounce of gold. Boston-based State Street (STT:NYSE - commentary - research) is the marketing agent behind the 2.3-million-share initial public offering.

StreetTracks Gold shares traded recently at $44.22 a share. Spot gold last changed hands at $442.30 an ounce, not far from a fresh multiyear high of $445.90 set on Wednesday.

The StreetTracks Gold ETF is the first of its kind in the U.S. Gold ETFs have already been listed in England, Australia and South Africa. State Street rival Barclays (BCS:NYSE - commentary - research) is currently awaiting Securities and Exchange Commission approval to launch its own gold ETF on the American Stock Exchange.

Analysts say this morning's successful launch of a gold ETF in the U.S. could open the door for additional ETFs linked to commodities, including oil.

"I expect this to be a blockbuster, because a lot of institutional investors who might not have been mandated to own gold other than mining stocks will finally be able to get directly involved in the gold market," said Michael Porter, ETF analyst with Lipper. "It should definitely pave the way for other commodity-based ETFs."

backed by gold? If so, why would it be a scam....perhaps I am just too unsophisticated in the stock market to understand fully why it would not be a good thing.

www.rense.com

Ultimately gold will not feed you when everyone wants to cash it in.

does $100 for a loaf of bread sound good?

I think the idea is that gold is more stable, at least historically.

sort of like currency. :)

get foreign countries interested in the dollar again when we've shown we can truly turn corners and get ourselves into financial shape again?

The rich have been getting richer for 24 solid years, graph after graph proves it. The gulf in wage between average worker and CEO has jumped 120 times (from 40 to 600+%).

Also to consider; if the dollar becomes worthless, won't most of their wealth go "bye bye" too?

It would be in their best interests to start paying more in taxes and producing more than dim sales clerks as a future work force... Like it or not, our economy is based on symbiosis. NOT supply-side. NOT demand-side. We both need each other. What they don't realize is that they do need us.

Total scam. I hope a lot of the top 20% buy into it.

going for Bu$h/god and the Haves going for Baal.
All god (or money?) worshippers, all.
Hey we have in God we trust on our money, will god uphold our money?

is NOT when it's at a multi-year high.

/got into gold at $315/oz

btw, I read that gold will be much more higher than $450/oz when the US economy blows.

Gold coins are the way to go. You buy them via a gold broker. check out www.kitco.com ...

Also, check out under "special offers" under www.monex.com. They sell a three coin set "Coins of the World" without a tremendous mark-up. You can sell the coins back to Monex later if you want to.

I bought gold last year when it hit $320 myself. I'm not planning on buying anymore for the time being. It is a very volatile thing to buy into - the above poster is correct.

Best of luck to you.

:kick:

in your experience, how liquidated is it trading gold with Kitco? I wonder if they would depress the price when the seller was in a financial distress.

Also, do you know of a standard gold exchange (not an individual company) that works just like a stock exchange where you can buy and sell precious metal electronically for individual investors via a broker in the US?

...and here's a mutual fund you might be interested in;

Prudent Bear Global Income Fund

Prudent Global Income Fund (formerly Prudent Safe Harbor Fund) is a no-load mutual fund currently structured to benefit from a falling dollar and rising gold prices. The fund primarily invests in foreign and domestic bonds and gold stocks. The fund is similar to many international bond funds but there are a number of important differences.

The Prudent Global Income Fund seeks the highest credit quality primarily by investing in government (as opposed to corporate or agency) securities.
The Fund seeks to limit the risk of rising interest rates by keeping maturities relatively short (1-3 years).
The Fund maintains an exposure to rising gold prices.