People with Gold/Silver

[johncp]

Agreed on both comments - in the scenario we just go out with a wimper and not a splat (shtf) it would be wise to have PMs or some other socially comfortable currency. and yah, the dollar is doomed - now the big question is by what margin? Hopefully we just get relegated to the class of countries like Spain. What is for sure is that we won't be able to afford to police the world. Things are going to get rougher for those countries that we're propping up/providing security for. We'll see more bullies take more from weak countries and no one will be able to stop them (worse than it is now with say.... China and Tibet - "just providing a single country for our similar cultures"... wait that is what Adolf said...). It will all probably come to a head at some point. China will probably quietly invade eastern Russia (or those nations that make up what eastern Russia used to be). I doubt we'll see any full out nation vs nation war. Most likely it will be political. China will go help develop the infrastructure of some poor countries and ship a bunch of their people there and eventually it will become a territory of China (this is what is happening in Africa now).

And no, sadly they won't plan to off themselves... they aren't planners. So they'll just hand around dragging other people down. Eventually we'll get culture wars - have-nots VS the haves ... it is all just kinda gloomy. Best we can hope for is something that will significantly reduce the human population (hopefully something rosey and wonderful like a breakthrough in space technology that allows us to off-world a lot of people)

 

[EZLivin]

As was mentioned above, some form of currency will always be in play since it is necessary for any sort of efficient commerce (we humans like efficiency, and we know what works). Sometimes we talk like a real crisis has never occurred before. On the contrary, something is always happening somewhere in the world. Between Eastern Europe, Africa, Asia, and Latin America, we have hundreds of examples of extreme crisis in modern history. Does anyone here actually think barter is the only thing taking place in Libya at the moment? Libya is imploding in a true SHTF, but I assure you foreign currencies and metals are in high demand there! In every SHTF situation paper currencies have continued to function (sometimes foreign currencies only), gold and silver continued to function (exchanged for currency in banks or on the street, or exchanged directly), and barter took place. All will work, but some are more efficient than others. I strongly disagree with the barter-only folks, but thank God they have the foresight to prepare (just as I am doing).

 

[Gunner3456]

As was mentioned above, some form of currency will always be in play since it is necessary for any sort of efficient commerce (we humans like efficiency, and we know what works). Sometimes we talk like a real crisis has never occurred before. On the contrary, something is always happening somewhere in the world. Between Eastern Europe, Africa, Asia, and Latin America, we have hundreds of examples of extreme crisis in modern history. Does anyone here actually think barter is the only thing taking place in Libya at the moment? Libya is imploding in a true SHTF, but I assure you foreign currencies and metals are in high demand there! In every SHTF situation paper currencies have continued to function (sometimes foreign currencies only), gold and silver continued to function (exchanged for currency in banks or on the street, or exchanged directly), and barter took place. All will work, but some are more efficient than others. I strongly disagree with the barter-only folks, but thank God they have the foresight to prepare (just as I am doing).

I agree. In every SHTF instance I know of, including Venezuela recently, gold and silver became a viable currency. People might prefer to barter if you have extra of something they need, (I don't know) but PMs have regularly been exchanged. I suggest at least some common silver dimes, which are worth maybe $3 right now. Nice well used ones do not look fake.

In a world-wide collapse, I don't trust any paper money. Too many countries are in trouble.

 

[EZLivin]

Agreed. One of my big errors was to not pick up a bag of 90% coins when they were cheap. I focused on other areas because we use safe-deposit boxes (I know, I know) so space is an issue. A mistake, but I'll live with it. Will likely pick up at least a few 90% to round out the herd one of these days.

 

[kenno]

Let's say I had good Canadian Dollars but TPTB imposed a jail sentance on any american caught with canadian dollars, I'm UTCWAP. Silver dimes, small gold coins will be at a premium, PPL will take that PM and hoard it. Booze, meds, boolets, boots, gasoline are only valuable if they are never used and of course they will eventualy expire. PMs don't expire, they barely tarnish.
Plan on surviving the first year on stored goods, planting a garden et al. Agriculture is the key to long term survival and the Willamete Valley is the key to agriculture in Oregon

 

[EZLivin]

Let's say I had good Canadian Dollars but TPTB imposed a jail sentance on any american caught with canadian dollars...

Then my wife can hang on to them. She is Canadian

 

[Burt Gummer]

Once the dollar is removed as the world's reserve currency (that is pending; our bombs can't stop it; Libya as the latest country trying to create their own gold-back currency), inflation will go ballistic. There is nothing that can stop this. We are desperately trying to delay the process, but it is futile. In the next 1-2 years I expect 'things' to cost 2-4x as much as they do right now and wages/employment to decline. Those with savings in dollars or dollar-based assets are going to get clobbered. Non-dollar currencies or precious metals are the only viable parachutes.

These are the last of the good times for us.

Every nation/empire historically that has tried to print their way back to prosperity has failed. Every fiat currency eventually goes to ZERO. Step out of the delusion bubble (the 98%) and realize the countdown has already started. The dollar is doomed.

Stansberry's Investment Advisory

Study up on the Normalcy Bias and you will understand why the 98% simply cannot prepare.

 

[bush pilot]

Gold prices is going out of the reach to buy $1700-1800 bucks an oz.
Silver around $42 still good investment.
Housing market dead - and will get worst.
I'm still buying silver every week 2-3 oz. at time.
Private parties only - some time you get lucky and get a market value for it.
Land is another way to invest - you will never lose on your investment.
I bought some properties years ago - in last few years it quadruple in price.
I'm in a process of getting another 1/2 acre for 800 bucks cash. We all know what our "paper" money is going >>> down and down.
Taxes about 20 bucks a year.
Can sit on it for years and give it to my kids or grand kids.
I have a Family in Poland - dollar use to be 1-6 couple of years ago now 1-2.
Poland is the only one of 2 countries who was able to avoid this economic disaster.
Just my 2 cents.

 

[Burt Gummer]

Things are going to continue to get worse. The number of Americans on food stamps has increased 74% since 2007 and increases monthly. Only 47% of Americans have jobs. Get ready.

You never truly own land or real estate. It is owned by the State and can be taken away at any time. Own, lease or rent but you are in fact a tenant.

Housing hasn't even began its fall yet. Look at the housing market now when financing is almost free. Then calculate what people will need to sell their homes for when interest rates are 10, 15, 20%. Essentially give them away.

 

[Grunwald]

Things are going to continue to get worse. The number of Americans on food stamps has increased 74% since 2007 and increases monthly. Only 47% of Americans have jobs. Get ready.

You never truly own land or real estate. It is owned by the State and can be taken away at any time. Own, lease or rent but you are in fact a tenant.

Housing hasn't even began its fall yet. Look at the housing market now when financing is almost free. Then calculate what people will need to sell their homes for when interest rates are 10, 15, 20%. Essentially give them away.

Noisycow, you are so right about not really owning real estate. Try not paying your government lease fees (property taxes) and you'll find out really quickly who actually owns the real estate.
Still, if you "own" the right real estate it is still a good investment.

 

[michael mayhew]

my feeling on gold is that it is just like the housing market....we were told now is the time to buy realestate and then the bottom fell out
now we are supposed to buy gold at such a high cost and i see the bottom dropping out of it too...anything uncle sam has his hands in is a ponzi scheme in my opinion.gold is worth so much because it is rare,if everyone buys it it is no longer rare.
i say lead is the most precious metal to have unless you can throw gold at 3200 foot per second.

 

[NuthinFancy]

gold is worth so much because it is rare,if everyone buys it it is no longer rare.

:huh:

I don't see gold as an investment vehicle, I use it as a hedge against the inevitable collapse of Monopoly money.

Never mind, that's OK, you just stick with your fiat currency.

 

[Gunner3456]

gold is worth so much because it is rare,if everyone buys it it is no longer rare.

No, the opposite. If "everyone" buys it, there is less available in the marketplace. Who cares if it's a bubble. I guarantee you that your pieces of paper that say one dollar on them are losing value fast.

Big investors and governments (China, India) have been buying lots of gold. The private investor hasn't even scratched the surface of buying so there are lots of buyers left. The world supply of gold is very limited, finite, and increases by less than 2% per year via mining. For thousands of years gold has been universally accepted as money and value.

In the early 70's when Nixon took us off the gold standard, gold was $35 an ounce. Today it is back over $1,900. Yes, only the US had a holiday today; all other markets were open and gold went over $1,900. So from $35 to $1900 is NOT an increase in the price of gold!!!! It is a reflection of the world's opinion of the value of the dollar!!

If gold fell back to $800 at least you'd have "something." You hang onto dollars and you'll have nothing. It's coming fast. Europe is in real danger of crashing and the Euro is in real danger of failing. Our government is printing (creating out of thin air) 42 cents of every dollar they spend.

 

[Burt Gummer]

Since people like to talk historical performance, how about the fact that the dollar has lost 94% of its value since the foreign-owned private Federal Reserve took control of our money supply in 1913.

I should mention that IMO Silver, not Gold, is the way to go. I own both, but would recommend silver over gold for many reasons. I am not pro-silver or gold as much as I am negative on fiat money and the fake Ponzi that is propping it up.

 

[Burt Gummer]

in my opinion.gold is worth so much because it is rare,if everyone buys it it is no longer rare.

I would like to laugh at this statement, but instead it makes me sad. The 98% (only 2% of Americans own any precious metals) are so far lost at this point there is little hope for them.

More money has been printed since 2005 then the entire history of the USA before that - let that sink in a bit. People that are naive enough to have faith in the dollar and/or the US economy are deluded. Our fake economy DIED in 2008. It is simply running on life support now - a gigantic digital printing press. A stall for time. That is all.

Bernie IS the best analogy. Right now it is a dead corpse where the banks and corps are just shuffling paperwork back and forth to give the appearance of life.

[video]http://youtu.be/YXhfv4UYv2I[/video]

 

[Gunner3456]

Since people like to talk historical performance, how about the fact that the dollar has lost 94% of its value since the foreign-owned private Federal Reserve took control of our money supply in 1913.

I should mention that IMO Silver, not Gold, is the way to go. I own both, but would recommend silver over gold for many reasons. I am not pro-silver or gold as much as I am negative on fiat money and the fake Ponzi that is propping it up.

That is why I have been telling people for years to get REAL things and reject anything paper based. That excludes silver and gold ETFs. They are a 1:300+ Ponzi, possibly much worse. There is far less real silver and gold available than there is real metal. That my friends is also a Ponzi. When SHTF everyone with 'gold bearing' IRAs might as well have kept their savings in monopoly money.

All of this is by design. The goal is to bring the US monetarily to the same level as other countries so it will be possible to have a single global currency and a World Bank. Problem-Reaction-Solution is their calling card.

The Fed is deliberately creating and cultivating the Ponzi with near zero interest rates. The banksters will decide when to 'pull out the pin' and pop the Ponzi. Then it begins. The Greatest (Hyperinflationary) Depression. They will have all their ducks in a row in order to take the gullible sheep to the cleaners.

You see, these same bankster families control what you see and hear via radio, TV, and other so-called news. They are attempting to convince you all is well so they have enough time to prepare themselves. Everything they tell you is a lie. Every important politician is bought and paid for; they work for the banksters, not you. The don't give a damn if you starve or not. In fact, in their minds, we are useless eaters anyway.

Just get off the pot and get ready. Turn off your TV. Quit letting manipulators blather on daily about BS that you should not be fearful of on any level. Some brown person 2500 mile is no threat to you. Our real enemies are right here, wearing the best suits and ties. What really sucks is that it is already far too late, we are done. All you can do at this point is take care of yourself. Don't add insult to injury by playing into their crap; GOP vs DEMS, GWB vs B.O.; all that is nonsense; all there to give you the illusion that you have freedom of choice, you don't, you have owners. (Thank you George Carlin).

I like silver too. The problem is that it gets real heavy and hard to hide or transport when you reach a point. So I have enough silver (common US coins) to have "cash on hand," but if you have REAL money to take care of long term, you need gold.

 

[NuthinFancy]

I like silver too. The problem is that it gets real heavy and hard to hide or transport when you reach a point. So I have enough silver (common US coins) to have "cash on hand," but if you have REAL money to take care of long term, you need gold.

Gold is for wealth preservation and silver is for bartering. If we are talking about protecting wealth in the amount of several million dollars then a good spread to own in precious metals would be 80% gold and 20% silver. If we are talking about a “Mad Max” scenario where we are trying to set ourselves up for a black market bartering system then a good spread would be 75% silver and 25% gold. I will leave it to you to determine what would be an appropriate ratio for you based on the assets you are trying to protect.

George Maniere Investing Advice

 

[kenno]

My NEW PREDICTION:
Gold at $2000 an OZ by 9-25-11
Gold at $3000 an OZ by 4-01-12

 

[Burt Gummer]

Knowing that it is more about the dollar going down/inflation going up than anything else I still say silver will be $60 by 12.31.11. That is pretty bold considering it represents a 100% annual return. (That is just for FUN - I really don't care about the month to month price)

I made that prediction before the 22% scare-drop earlier this year. (J.P. Morgan just printed up a few million worthless silver certs and jacked up the Ponzi).

Especially since the printing presses are blazing 24/7.

Buying silver at $40/ounce is like buying Microsoft in 1981, and no I am not kidding. IF there is anything left of a civilized society in the USA in five years, a man with 500 ounces of silver will be a rich man. On the flip side, many millionaires will be turned into thousandaires in days/weeks.

Silver at $60 is about the same gain as Gold at $3000 and in my opinion is a more probable outcome. As far as gold, Peter Schiff in 2007 said the Dow and Gold would be the same price at some point. That is still a very good prediction.

When paper burns and stocks evaporate I would be happy to hold this sign (I would post the pic here directly since it contains an evil curse word):

jump-you-bubblegumers | Flickr - Photo Sharing!
http://www.youtube.com/watch?v=yge311sFhC8

 

[Grunwald]

Just my own prediction, but I think that we might have another chance to get some gold cheaper. Even though gold is going to be going higher, I believe it will drop somewhat before it does. My reason for such thinking? As I watch the financial mess unraveling in Europe, it leads me to believe that there will be gold positions sold in order to try to stabilize things. The process of this attempted stabilization will require money, and so things will get sold off to raise the money. Price of gold is likely to drop because of this. When that happens, you will hear a lot of talking heads and analysts declare the gold bull market to be over and that it was a bubble. They will be wrong.