[–] cyclops1771 0 points 2 points (+2|-0) ago 

This graph is depicting the Pound sterling as roughly $18-20/oz of gold, compared to the dollars pegged value of $35/oz per the bretton woods agreement. But we know that the Pound was pegged at $4.03 until the 1949, and then it was $2.80 per pound until 1967, when it dropped to $2.40/pound. This is showing the pound as always below the dollar. Makes no sense.

[–] iReich [S] 0 points 0 points (+0|-0) ago  (edited ago)

[–] cyclops1771 0 points 1 points (+1|-0) ago 

Gold is an excellent addition to one's portfolio/returement account. In fact, I would recommend gold as a stabilizer as you get older. Replacing non-revenue bonds. And converting stocks to income accounts - dividend paying stocks, income distributing Real Estate, mineral partnerships. Personally, I am converting as many of my holdings to income holdings as possible in the next 2-3 years.

[–] Nietzsche__ 0 points 0 points (+0|-0) ago 

This chart is absolute garbage. Gold future shill work?

[–] cyclops1771 0 points 0 points (+0|-0) ago  (edited ago)

Looks to be. Gold is a fine additional to ones portfolio - provided it is physical gold and not 'paper' gold, which is just a tertiary market of trading gold futures, not trading actual species.

Most of these gold websites are just brokers of gold futures. They peddle paper contracts (options, puts and calls) of futures - IOW, selling the transaction, not selling the actual specie. Buy physical gold for your portfiolio or IRA. There are a number of legitimate places that purchase actual American gold eagle coins, Krugerrands, Canadian Maple Leafs, etc. and store them in their local vaults or bank vaults/SDBs, where they are kept in accordance with US tax laws. Now, if you can afford it, and don't mind investing post-tax, buy these on your own, and store them in a SDB yourself. I do not recommend keeping these at home.

Edit: spellingzz

[–] individualin1984 0 points 0 points (+0|-0) ago 

That black text makes no sense. Gold will always be 100% of itself. You need a comparison agaist a known stable commodity that is not a precious metal.

[–] iReich [S] 0 points 0 points (+0|-0) ago 

A known stable commodity... Like what ? Camels ? Salt ?

[–] individualin1984 0 points 0 points (+0|-0) ago 

I am not a comodity expert but you need something tangible like a pound of pork or a gallon of milk.