Quote:
Originally Posted by Kiopa_Matt
I personally wouldn't. Everyone's buying up gold in fear of some huge financial collapse, right? If and when that happens, guess what will happen? Nobody will have any money, so everyone will sell off their gold, making the price of gold plummet, and you lose on your investment.
That's what I think anyway.
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If you want to know what happens when a country collapses and how important gold is, spend some time researching Argentina's collapse. Fascinating information out there about the black markets that sprung up and how people got by. Everything I've read about it all says the same thing when they speak of gold, and that is gold coins and gold jewelry was the best to have, and actual bars were not so practical.
With that said, if you are buying gold to prepare for a financial collapse, I highly suggest investing in other tangible items as well, because if the shit hits ever the fan, my food is going to be worth a lot more than your gold. But it doesn't hurt to have both.
Just think about what people NEED and WANT, and stock up on it. You'll make it through any crash if you have what everyone wants. And that can range from cigarettes, packs of coffee, canned food, clean water, ammo, flash lights, and everything in between.
Quote:
Originally Posted by lagcam
There are an abundance of gold shops everywhere in Thailand because many Thai people buy gold and then use it to secure short term finance. You can get immediate cash to the value of about 80% to 90% of the gold's market value, for a monthly interest of between 1.5% to 4% (depending where you do the business).
High for what is effectively secured finance, but its a high volume business with no shortage of customers.
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Yea, but you don't want to use all those little shops you see everywhere (however most Thais don't know better and use them). They usually don't give you fair value. If you're buying gold, you really need to hit China Town, as that is where the best deals are.
But you're right, the Thais are gold
CRAZY. Those investing here are really in a good position in the event they ever need it, because there is no shortage of people who will buy it.