Archived posting to the Leica Users Group, 2012/10/15
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]The key is to sell for cash. On Oct 15, 2012, at 6:17 PM, "Ken Carney" <kcarney1 at cox.net> wrote: > I have some clients who have been investing in gold since c. 1972. I > really > don't recall accurately, but I think U.S. residents were not allowed to own > gold before then. Whatever, they never sell it. They believe the value > has > never changed, and they would be paying a 28% capital gain tax on no real > economic gain. It is probably better that they own it. I would just sell > some and buy an S2 or something that would have cost 5% as much in 1972 if > it had been around. > > Ken > > -----Original Message----- > From: lug-bounces+kcarney1=cox.net at leica-users.org > [mailto:lug-bounces+kcarney1=cox.net at leica-users.org] On Behalf Of > Robert > Meier > Sent: Monday, October 15, 2012 11:44 AM > To: Leica Users Group > Subject: Re: [Leica] D800E pixel-peepers > > Nixon did that, in 1971. Up till then we were on the gold standard, gold > at > $35 per ounce. > > On Oct 15, 2012, at 11:12 AM, FRANK DERNIE <frank.dernie at btinternet.com> > wrote: > >> Originally cash -was- gold and its value was fixed. Whoever let the two > deviate effectively gave up the original true function of money. Now it is > just a gambling chit. >> FD >> >> >> >>> ________________________________ >>> From: Robert Meier <robertmeier at usjet.net> >>> To: Leica Users Group <lug at leica-users.org> >>> Sent: Monday, 15 October 2012, 15:08 >>> Subject: Re: [Leica] D800E pixel-peepers >>> >>> That's why people convert cash to gold. >>> >>> >>> On Oct 15, 2012, at 2:55 AM, Frank Dernie <Frank.Dernie at >>> btinternet.com> > wrote: >>> >>>> Here in the UK from 1972 to now the loss of value of the ? is at least > 20x, for a house more like 30 to 40x. >>>> IMHO inflation is a big problem, little addressed by governments or > banks, since it suits their business plan, but a catastrophe for the rest > of > us who have saved for retirement. >>>> Having a situation where currency is worth less and less is truly absurd > since money was invented as an exchange token to offset bartering time > differences. It is nowadays treated like a commodity worth having in > itself, > and manipulated by greedy ruthless b*stards. >>>> FD >>>> >>>> On 14 Oct, 2012, at 23:36, Howard Ritter <hlritter at bex.net> wrote: >>>> >>>>> Sorry, that should have been "conversion factor is close to _15 or > 20_", meaning the number of dollars required to buy a given German > commodity > in 2012 that cost $1 in 1966. >>>>> >>>>> ?howard >>>> >>>> >>>> _______________________________________________ >>>> Leica Users Group. >>>> See http://leica-users.org/mailman/listinfo/lug for more information >>> >>> >>> _______________________________________________ >>> Leica Users Group. >>> See http://leica-users.org/mailman/listinfo/lug for more information >>> >>> >>> >> >> _______________________________________________ >> Leica Users Group. >> See http://leica-users.org/mailman/listinfo/lug for more information > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information