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Should I buy gold? - Dhamma Wheel

Should I buy gold?

Casual discussion amongst spiritual friends.
dhammapal
Posts: 1562
Joined: Sun Nov 01, 2009 9:23 am
Location: Sydney, Australia

Should I buy gold?

Postby dhammapal » Sat Oct 27, 2012 8:42 am

Hi,

I'm thinking of investing in gold. The Buddha's chief patron had a lot of gold. The American and European Central Banks are printing money ("quantitative easing") and I need to diversify from just cash (I wouldn't touch property or shares - there is always dana too of course). I'm not saying gold is a sure winner but is a hedge against inflation and a devaluation of the Australian dollar after the mining boom ends.

One problem is that if things get bad the government might confiscate gold. The Australian government has already introduced a mining tax which basically confiscates money from shareholders.

Can you think of any other considerations I should think of before buying gold?

Thanks / dhammapal.

PS Does anyone know of any online discussion forums on investment options run by unbiased volunteers?






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DAWN
Posts: 801
Joined: Thu Aug 16, 2012 5:22 pm

Re: Should I buy gold?

Postby DAWN » Sat Oct 27, 2012 9:03 am

Me too. :spy:
Sabbe dhamma anatta
We are not concurents...

David2
Posts: 930
Joined: Tue Mar 15, 2011 6:09 pm
Location: Germany

Re: Should I buy gold?

Postby David2 » Sat Oct 27, 2012 9:25 am

The answer from the Buddhist point of view is easy:
Whatever you buy, don't get attached to it. :)
It is not so bad if you lose money, it just means that someone else won the same amount of money.
To conclude, money is just a tool, nothing we should get too excited about.

From an economic point of view:
I'm not too deep into the matter, but I think experts advise not to spend more than 5-10 % for gold, because it is rather volatile.
They advise to rather invest the money into different investment categories, so one can minimize the risk of losing money.

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Hickersonia
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Location: Cincinnati, OH
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Re: Should I buy gold?

Postby Hickersonia » Sat Oct 27, 2012 11:42 am

Hickersonia
http://hickersonia.wordpress.com/


"Holding on to anger is like grasping a hot coal with the intent of
throwing it at someone else; you are the one getting burned."

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BubbaBuddhist
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Location: Knoxville, Tennessee
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Re: Should I buy gold?

Postby BubbaBuddhist » Sat Oct 27, 2012 1:38 pm

(1) Buy gold, and keep it in a lockbox in a foreign bank.
(2) If we become a fascist society, where the government assumes the right to seize citizen's assets--leave. Move to where you stashed the gold and live there.

BB
Has an answer for everything
Author of Redneck Buddhism: or Will You Reincarnate as Your Own Cousin?

Mal
Posts: 75
Joined: Sat Sep 29, 2012 12:21 pm

Re: Should I buy gold?

Postby Mal » Sat Oct 27, 2012 2:30 pm


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David N. Snyder
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Location: Las Vegas, Nevada
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Re: Should I buy gold?

Postby David N. Snyder » Sat Oct 27, 2012 5:22 pm

Image




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Kusala
Posts: 667
Joined: Sun Jan 23, 2011 11:02 am

Re: Should I buy gold?

Postby Kusala » Wed Oct 31, 2012 5:45 am

Image

"He, the Blessed One, is indeed the Noble Lord, the Perfectly Enlightened One;
He is impeccable in conduct and understanding, the Serene One, the Knower of the Worlds;
He trains perfectly those who wish to be trained; he is Teacher of gods and men; he is Awake and Holy. "

--------------------------------------------
"The Dhamma is well-expounded by the Blessed One,
Apparent here and now, timeless, encouraging investigation,
Leading to liberation, to be experienced individually by the wise. "


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