plashadpobedy Tin ✭
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Re: Menē Launches Online 24 Karat Luxury Jewelry Brand and Announces Board of Directors AppointmentsSounds like a real stupid idea for buyers of such. How is one to sell it, other than to a jeweler or pawn shop? With all the "fake" (24 gold-plated) out there right now, I don't even want coins or bullion. 24Kt gold is too soft for everyday uses.
Gold is still a gamble considering the influence of the futures market (in gold). My initial purchase of gold bullion was in April 2012 @ US$1632.50/oz. Presently, it is down 24%. Celentes says gold to US$2000, Rickards to US$10K max. and Harry Dent, gold to US$700/oz. In real dollar terms, an unrealized loss of US$5,738 (on 15 oz.). Be it known, gold bullion (as my Swiss PAMP) is considered a "commodity", and thus, taxable. Some gold coins, as Double Eagles, are considered "currency" and not taxable. There is always the "unknowns". The government (run by the banks, & God bless Goldman Sachs), may legislate a stiff surtax on any bullion exchange for fiat, 30% would be more than fair. I like gold for all the right reasons, but like Joseph Granville said, "the obvious, is obviously wrong".
The caveat is that Goldmoney "could" become a MF Global if the company insiders ever decide it's time to sit on a beach and sell-out their interests. With new management (ownership), all bets are off. The new insiders can do as they please. I've seen it in limited-partnerships and, of course, the shining example, MF Global. Caveat emptor