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Are you buying gold??

Discussion in 'Preparedness & Survival' started by Just Jim, Mar 30, 2010.

  1. Just Jim

    Just Jim Well-Known Member

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    http://market-ticker.org/

    Pump up the gold story. Get your friends to tell retail investors to buy some gold every month. Get your buddies in the financial business to offer exchange traded gold funds (ETFs) that claim to buy physical gold. This will sound safe to retail investors, but in fact, the ETFs are very risky. This will serve your purpose when you are ready to start a panic. These particular ETFs will allow the "gold" to be commingled with the custodian's gold, and the custodian can lease out the gold. Moreover, the "gold" custodian can give it to a sub custodian that the manager doesn't know. The sub custodian can give it to yet another sub custodian unknown to the original custodian. The manager will never audit the gold, and the gold is not "allocated" to a particular investor. Since this is an "exchange traded" gold fund, investors will probably assume the gold is regulated by the Commodities Futures Trading Commission (CFTC), but it isn't. By the time investors wake up to the probability that there is very little actual gold backing their investment, your plan will be ready to execute.

    ------------------------------------------------

    more at the site....

    jj
     
  2. KTM530XCW

    KTM530XCW Vancouver, WA Well-Known Member

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    It's a horrible investment compared to nearly other type of investment. It would only be "totally the hot ticket" if society as we know it crumbled around us (yes, even more so than having a Muslem president". In that scenario, I think ammo would be worth it's weight in gold (pun intended)...
     
  3. Riot

    Riot Benton County, Washington Well-Known Member

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    There was this outer limits episode I remember seeing...this guy can travel through time, so he burries a crapload of gold in a time capsule and travels to the future.

    So here he is, in the future, thinking that his canister of gold is going to buy him whatever he wants. But when he tries to barter with another citizen, the guy says basically looks at him like he's a moron and says "Salt is the currency now".

    All the gold ain't going to mean crap to the guy accross from you if all he wants is to eat, drink, or defend himself.

    Make sure you have enough of the essentials before you start pooling together trinkets of gold pieces- thinking you'll be the only rich king among peasants.
     
  4. Wheeler44

    Wheeler44 SW Washington Member

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    This......For many a year salt was the "currency".........It is hard to preserve food with gold....
     
  5. slingshot1943

    slingshot1943 salem or Well-Known Member

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    The sal in salary comes from salt. Roman soldiers were paid with salt.
     
  6. Wheeler44

    Wheeler44 SW Washington Member

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    they were the original "Saltiers" (soldiers)
     
  7. djm68

    djm68 Portland, OR Member

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    I have to second this. Gold is not an "investment" in the traditional sense. It is a store of wealth to hold during possible massive inflation.

    I hold quite a bit of gold and silver. I am not expecting this to be useful in the event of a total societal collapse, but then I honestly do not think such an event is coming. More likely is a period of hyper inflation -- that is when gold/silver or other "hard" assets will be useful.

    If there is a sudden collapse, then you had better hope you have food, water, bullets/guns, med supplies. What do you think a pack of smokes would be worth following a collapse. A lot me thinks. What is the currency in prisons: smokes!

    Just my thoughts....

    DJM
     
  8. supergenius

    supergenius 206 Active Member

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    Water
    food
    bullets
    lighters
    Warmth/dryness.....




    F gold
     
  9. djm68

    djm68 Portland, OR Member

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    Jim, with respect you, but I can not help but comment:

    Anyone who buys gold ETFs is a fool. Gold/silver must be physically held -- that is the whole point of buying PMs. Otherwise it is mere market speculating and choosing to speculate in PMs is a bad idea.

    Cheers,
    DJM
     
  10. LCspeedsteel

    LCspeedsteel hillsboro Member

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    baseball cards
     
  11. supergenius

    supergenius 206 Active Member

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    As those who buy gold die of thirst, freeze and starve to death and cant defend themselves, thell be much more inclined to let it go.
     
  12. Decidion

    Decidion Washington county, Oregon Member

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    Those who buy gold instead of guns & ammo for a SHTF scenario will probably end up loosing it to those who do buy guns & ammo. Plus in a barter situation, I would bet a round of ammo will trade (or close to) what the same amount of gold will trade for.
     
  13. PlayboyPenguin

    PlayboyPenguin Pacific Northwest Well-Known Member 2016 Volunteer

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    Gold is a fool's bet. Historically it has paid off less than bonds or commercials savings accounts. When it goes high it tends to only favor a select few because the market is so over manipulated and the peaks are when the majority is controlled by certain parties. Then once it is redistributed the price goes down.

    Here is a tip for you. If anything is actually a great investment the people selling it do not pump money into advertising it. Gold is one of the most advertised commodities.
     
  14. jimwsea

    jimwsea Vancouver, Washington state Active Member

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    If you think that there will be a serious devaluation of the currency before (and maybe leading to) SHTF conditions, then gold and silver should help weather that storm. After devaluation, you can cash in some gold (likely to be worth much more) to get the things you need as well as things you can trade later (like salt, bullets, seeds, matches, toilet paper). When SHTF takes hold, you may less likely be able to obtain necessities with gold.
     
  15. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    It's been stated above.............
    Gold and Silver are NOT investments.

    They are for securing buying power for the future. You don't get rich by buying PMs.

    Gold has the exact same buying power it did 100 years ago.

    Even in Ancient Greek times, 1oz of gold bought a Toga(giggle), top-notch sandals, and dinner for 2.
    Today 1 oz of gold would buy a nice suit, nice shoes, and dinner for 2.

    I do buy gold and silver for this exact reason.
     
  16. slideglider

    slideglider PDX Member

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    All that and this: If your going to speculate, better know the market is rigged by the market makers.

    http://jessescrossroadscafe.blogspot.com/search/label/Gold Price manipulation

    http://jessescrossroadscafe.blogspot.com/2010/03/bombshell-whistleblower-steps-forward.html

    http://www.gata.org/node/8466
     
  17. Gunner3456

    Gunner3456 Salem Well-Known Member

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    There is a world of difference between speculating in gold and buying gold to keep.
     
  18. slideglider

    slideglider PDX Member

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    Yes, that's why if your not long on your gold position, your speculating. And if your speculating, you better know what your doing and stop listening to the talking heads.
     
  19. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    You can't make money trading PMs. The premiums alone would eat any profit you might make.

    The exception to the rule is like winning the lottery. If you sold all your silver back in the 80s when it was $50 per ounce, then you MIGHT have made money.

    Need a crystal ball for that kind of thing though.
     
  20. clearconscience

    clearconscience Vancouver, WA Well-Known Member

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    Some of you guys are bashing gold buyers , but if the ish did go down most people are going to be thinking currency. Their cash isn't going to be worth the paper it's printed on and coins are going to be worthless. And that's even if you can get any money because just like the depression the banks will close immediately and they will just take your money. People will want some sort of currency at least until they figure out that you can eat currency.

    My dad was kind of ahead of the curve on this one and predicted (which anybody who paid close attention would have) the downfall in the US dollar and took out his 401k and bought gold and silver and his investment has been really good so far. He did this around 2000 when the market was booming. But the same problem persists most of his investment is in a depository and if the market falls the govt will just lock it down and take it. You can't protect it unless you have it in your home and are sitting on your roof armed to the teeth.