[xsplat]

Oh - another dip. I hadn't been paying attention. I'll need to fly out to another city where gold is traded in bigger quantities to get a decent price. Airfare costs about $150, so at 6 ounces that adds $25 per ounce, but the crystal ball up my ass is telling me that gold will fluctuate back up to $1800 over the next few months, before eventually trying to test $2000 sometime this year.

[Frost]

(02-29-2012 06:45 PM)MikeCF Wrote:  

(02-29-2012 06:02 PM)thegmanifesto Wrote:  

(02-29-2012 05:39 PM)MikeCF Wrote:  

Selling my silver was an eye opener.

Get a look at people who buy the stuff.

What were they like?

Pasty white guys ranging in age from late-30's to late-50's.

Rubes.

The kind of people who get conned. They think they are winning at life, and have some angle...the best marks.

There are three types of people in the "survivalism" - and make no mistake, that's what the physical gold crowd is - market:

* Guys making profit (Tyler Durden and others playing the currency markets);
* Scared guys (need "real money" for when "the shit hits the fans");
* Transients.

I was into the scene for a while. Then I got close to it. I saw the people in it.

They are not winners at life.

They are not people you'd want watching your back in a fight.

Most are fat, middle-aged white guys who couldn't run up a flight of stairs - and couldn't sprint down the street with a "bug out bag."

They live in fantasyland. It's like a video game.

So would you describe yourself as an optimist regarding the future prospects of the USA? Do you think the survivalist guys are panicking over nothing?

Or do you you think hyperinflation, civil disorder, etc are realistic threats to prepare for, but you're just laughing at the guys who are playing Rambo while life is easy, but would likely crack as soon as their cable crapped out?

(Honest questions, not trying to be a smartass.)

My opinion: I don't know about Gold and Silver, but I do know this - the American dollar is finished. The world's savers and producers will not permit USG continuing to debase forever. SOMETHING will replace the USD as the world's reserve currency.

Now, could that be gold or silver?

Could it be the RMB or (hah) the Euro?

Could it be a virtual digital currency, or rhodium, or something absolutely no one expects?

I have no idea. But the historical precedent for gold and silver currencies exists, and no sane man could want to retry the 20th century's experiment in fiat money, given how badly it went. So, I own about 20% physical GLD in an otherwise unexceptional portfolio.

[Kitsune]

I own a little of both.
As my disposable income goes up, I'll own more. I don't really get involved with the bigger picture/economics of it all. It is just an extension of cash under the mattress for me, which incidentally, I'm also a fan of.

[MikeCF]

(03-02-2012 12:15 PM)Frost Wrote:  

Or do you you think hyperinflation, civil disorder, etc are realistic threats to prepare for, but you're just laughing at the guys who are playing Rambo while life is easy, but would likely crack as soon as their cable crapped out?

Thought experiment 1: Fat white guy has 1,000 ounces of silver. I have my Kimber 1911.

Who has more silver?

Thought experiment 2: I and other like-minded men have our shoulder pistols, rifles, and several cases of baby food, vodka, and canned goods.

Will we take silver for our food?

Would you accept silver for toilet paper, ammunition, and baby food?

Think through these issues. What would you do?

Also, remember that most guys selling people on terror are in the markets It's a form of pump-and-dump.

Far more valuable than silver?

Physical fitness, health, good dental work (I had all of my old fillings redone in '09), knowledge of military tactics, fighting skills, food, water, liquor.

[Samseau]

(03-02-2012 04:59 PM)MikeCF Wrote:  

(03-02-2012 12:15 PM)Frost Wrote:  

Or do you you think hyperinflation, civil disorder, etc are realistic threats to prepare for, but you're just laughing at the guys who are playing Rambo while life is easy, but would likely crack as soon as their cable crapped out?

Thought experiment 1: Fat white guy has 1,000 ounces of silver. I have my Kimber 1911.

Who has more silver?

Thought experiment 2: I and other like-minded men have our shoulder pistols, rifles, and several cases of baby food, vodka, and canned goods.

Will we take silver for our food?

Would you accept silver for toilet paper, ammunition, and baby food?

Think through these issues. What would you do?

Also, remember that most guys selling people on terror are in the markets It's a form of pump-and-dump.

Far more valuable than silver?

Physical fitness, health, good dental work (I had all of my old fillings redone in '09), knowledge of military tactics, fighting skills, food, water, liquor.

I agree with this.

But you can only hold so much food, water, guns, and toothpaste.

What do you do with extra $$$? That's where PM's come in.

[rozayINTL]

If the United States ever gets to the point to where gold/precious metals are being used as currency, we will all be so unbelievably fucked. So many people will have lost their fortunes/life savings, food supply will run out in a matter of days.. list goes on and on. And if the U.S. markets tank, the others will be sure to go with it as will the global economy.

The best way to invest your money if you really believe that shit could happen (which it won't) would to be buy property with sustainable water/food sources in the middle of nowhere.

If your investing in precious metals, don't do it because you want some sort of emergency fall back when society as we know it collapses. There are better ways to prepare for that kind of thing. If the doomsday scenario (which people seem to fantasize about for some reason) were to happen. I'd just say fuck it and go along for the ride.

[SimonRierdon]

(03-03-2012 02:32 PM)rozayINTL Wrote:  

If the United States ever gets to the point to where gold/precious metals are being used as currency, we will all be so unbelievably fucked. So many people will have lost their fortunes/life savings, food supply will run out in a matter of days.. list goes on and on. And if the U.S. markets tank, the others will be sure to go with it as will the global economy.

The best way to invest your money if you really believe that shit could happen (which it won't) would to be buy property with sustainable water/food sources in the middle of nowhere.

If your investing in precious metals, don't do it because you want some sort of emergency fall back when society as we know it collapses. There are better ways to prepare for that kind of thing. If the doomsday scenario (which people seem to fantasize about for some reason) were to happen. I'd just say fuck it and go along for the ride.

Arable farm property is the ultimate fall-back especially if you know your neighbors well and there is an abundance of wildlife that you can steward into a sustainable protein stream. Luckily I have a small parcel of that in an extremely rural part of the southeast and I know all of my neighbors within a five mile radius. Everyone that I know is hoarding toilet paper, bacon (if it's vacuum packed, it doesn't need to be refrigerated) and putting hand pumps on their wells as a contigiency if the electricity goes out. Plus, everyone I know is increasing their population of cows and goats, all the way up to what the fields will support. Plus considering that we are armed to the teeth, we should be OK when the SHTF.

[MikeCF]

(03-03-2012 03:24 PM)SimonRierdon Wrote:  

Arable farm property is the ultimate fall-back especially if you know your neighbors well and there is an abundance of wildlife that you can steward into a sustainable protein stream. Luckily I have a small parcel of that in an extremely rural part of the southeast and I know all of my neighbors within a five mile radius. Everyone that I know is hoarding toilet paper, bacon (if it's vacuum packed, it doesn't need to be refrigerated) and putting hand pumps on their wells as a contigiency if the electricity goes out. Plus, everyone I know is increasing their population of cows and goats, all the way up to what the fields will support. Plus considering that we are armed to the teeth, we should be OK when the SHTF.

Yep. That's how it's done.

City folks are screwed.

[Frost]

Agree with Mike and Simon that in a true SHTF scenario, gold will be worthless.

But will the US become Mad Max for eternity?

I think the most likely scenario is a period of disorder, in which guns, food, medicine, survival skills, mental toughness etc are king, followed by some sort of return to order.

When that happens, we'll need a new currency standard. PMs seem like the most likely candidate.

[thegmanifesto]

Kyle Bass Explains Why He Had The University Of Texas Take Physical Delivery Of $1 Billion In Solid Gold

Read more: http://www.businessinsider.com/kyle-bass...z1owm94MK7

[1bliss]

So is it a good or bad decision to buy silver right now? I've been looking for a good investment but the stock market really isn't doing it for me. I have a couple 'safe' investments in the stock market, but I want to own something like Silver. Is it too late to hop on that wagon? Will it still go up a lot?

Also, would buying silver on paper be any less/more risky than buying it physical?

[thegmanifesto]

(03-12-2012 06:45 PM)1bliss Wrote:  

So is it a good or bad decision to buy silver right now? I've been looking for a good investment but the stock market really isn't doing it for me. I have a couple 'safe' investments in the stock market, but I want to own something like Silver. Is it too late to hop on that wagon? Will it still go up a lot?

Also, would buying silver on paper be any less/more risky than buying it physical?

I am waiting for a pullback on gold and silver. Then making a move.

Physical is what I like now.

I made some money last year in paper silver when it went parabolic, and unbelievably sold out near the top.

But physical from here on out. For a host of reasons.

[1bliss]

(03-12-2012 07:22 PM)thegmanifesto Wrote:  

(03-12-2012 06:45 PM)1bliss Wrote:  

So is it a good or bad decision to buy silver right now? I've been looking for a good investment but the stock market really isn't doing it for me. I have a couple 'safe' investments in the stock market, but I want to own something like Silver. Is it too late to hop on that wagon? Will it still go up a lot?

Also, would buying silver on paper be any less/more risky than buying it physical?

I am waiting for a pullback on gold and silver. Then making a move.

Physical is what I like now.

I made some money last year in paper silver when it went parabolic, and unbelievably sold out near the top.

But physical from here on out. For a host of reasons.

Care to share these reasons? I am contemplating between the two but I really don't know too much about this...

To me it seems like paper would be a lot easier to deal with.

[thegmanifesto]

(03-12-2012 09:50 PM)1bliss Wrote:  

(03-12-2012 07:22 PM)thegmanifesto Wrote:  

(03-12-2012 06:45 PM)1bliss Wrote:  

So is it a good or bad decision to buy silver right now? I've been looking for a good investment but the stock market really isn't doing it for me. I have a couple 'safe' investments in the stock market, but I want to own something like Silver. Is it too late to hop on that wagon? Will it still go up a lot?

Also, would buying silver on paper be any less/more risky than buying it physical?

I am waiting for a pullback on gold and silver. Then making a move.

Physical is what I like now.

I made some money last year in paper silver when it went parabolic, and unbelievably sold out near the top.

But physical from here on out. For a host of reasons.

Care to share these reasons? I am contemplating between the two but I really don't know too much about this...

To me it seems like paper would be a lot easier to deal with.

Emergency
Keeping money out of the ******* ******
Store of wealth
Diversification
Same reasons as Kyle Bass

[kassam]

(03-12-2012 09:50 PM)1bliss Wrote:  

(03-12-2012 07:22 PM)thegmanifesto Wrote:  

(03-12-2012 06:45 PM)1bliss Wrote:  

So is it a good or bad decision to buy silver right now? I've been looking for a good investment but the stock market really isn't doing it for me. I have a couple 'safe' investments in the stock market, but I want to own something like Silver. Is it too late to hop on that wagon? Will it still go up a lot?

Also, would buying silver on paper be any less/more risky than buying it physical?

I am waiting for a pullback on gold and silver. Then making a move.

Physical is what I like now.

I made some money last year in paper silver when it went parabolic, and unbelievably sold out near the top.

But physical from here on out. For a host of reasons.

Care to share these reasons? I am contemplating between the two but I really don't know too much about this...

To me it seems like paper would be a lot easier to deal with.

There are also a lot of people that believe when the shit hits the fan and you call for delivery on your paper (along with everybody else that owns paper) that you have a snow flakes chance in hell of actually getting physical silver or gold.

[carlosewers2012]

Not directly but I have holdings in a mutual fund that owns gold and silver. But would recommend you all to buy Gold if you can afford it

[tomtud]

Folks, I have an economics degree from a top notch university. Before jumping on this precious metals bandwagon, research and see that economies that ran off the gold standard or have their own currency, have had rises and falls in price.

Now,
Let's assume a chemist creates gold in a lab ( if not already done so). Your value of gold will drop in a heart beat.

If you have some money, buy a property or land. Let the land sit, and sell it in a few years. Most likely it will go up in value. They cannot create property in a lab. Buy a farm or ranch. People still have to eat, but not everybody needs gold. Barter economies can function.

[_DC_]

Gold and Silver are both really starting to slide.

I really wish my IRA allowed for precious metals because I'd like to buy some physical soon. Problem is, I can only use my other saving (short term, liquidity needed) so I'm thinking about buying some EFT gold.

I've got a feeling its going to keep dropping though with the Euro.

[Belize King]

Gold is at 1742 and Silver is at 32.83 right now. Any new thoughts on PM's? I have a few K thats just sitting right now. I cant really get into properties till the summer. CD suck balls and I don't have too much knowledge on the market.

I have a dealer out here that sells gold but only 18K. Possibly 22K.

[Sanblz33]

I sold the majority of my gold & silver 18months ago. I only keep a small amount just incase guys like Peter Schiff are right and I need to exchange it for food & ammo.

[kassam]

Found a new way to buy physical gold/silver without having to deal with high broker fees.

Check out your local independent jewelers, talked to one of mine and he often has east indian and chinese customers that will bring in physical gold that they receive as a gift to use to trade in for jewelry.

He gives the customer store credit for the metal at an agreed on price (usually below spot) and lets them spend it on jewelry. He then flips the metal to other customers that want to make custom jewelry or that want to buy the gold.

I don't know if this is standard practice for independent jewelers but worth dropping in and checking out. I was able to get a $50 discount to what I was being quoted by some online PM brokers.

[BIGINJAPAN]

(04-04-2012 02:47 PM)tomtud Wrote:  

Folks, I have an economics degree from a top notch university. Before jumping on this precious metals bandwagon, research and see that economies that ran off the gold standard or have their own currency, have had rises and falls in price.

Now,
Let's assume a chemist creates gold in a lab ( if not already done so). Your value of gold will drop in a heart beat.

If you have some money, buy a property or land. Let the land sit, and sell it in a few years. Most likely it will go up in value. They cannot create property in a lab. Buy a farm or ranch. People still have to eat, but not everybody needs gold. Barter economies can function.

Precious metals bandwagon ? In North America only 1% of the population owns PMs. During the boom and bust in the 80's that number swelled to 15%. I would say there is no bandwagon as of yet.

The farmland bubble has been in full effect for years now. Since they have reduced rates now hedgefunds have moved into farmland, chasing any kind of Alpha. Here in Alberta and Saskatchewan we have seen massive bubble like returns over the past 4 years. Not to mention who has enough cash kicking around to buy land ? My family and I have land that was given to us by my grandparents and each quarter now goes for $1.25 million. So it is far more realistic to buy PM's than land. Not to mention if you take out a loan to buy the land you have to pay the mortgage every month while you wait for it to go up in value.

And one other thing. If gold could be created in a lab we would know about it already. Instead it is impossible at this stage in the game, hence the use of tungsten in fake gold bars.

I also don't get what you are talking about the gold standard and countries having their own currency ? Could you clarify that statement ?

[BIGINJAPAN]

(10-18-2012 05:57 PM)TexasMade Wrote:  

Gold is at 1742 and Silver is at 32.83 right now. Any new thoughts on PM's? I have a few K thats just sitting right now. I cant really get into properties till the summer. CD suck balls and I don't have too much knowledge on the market.

I have a dealer out here that sells gold but only 18K. Possibly 22K.

Check out midasresources.com You can buy francs and sovereigns for a few hundred bucks a piece. They are recognized around the world. Any dealer would buy those back from you in a second. They also have walking liberty halves. These are all great coins for someone with a few K's to spend.

[rudebwoy]

I should have got more silver coins when the price was at $27, but I got lazy. The powers that be are suppressing the price of Silver, hopefully this nonsense will stop and Silver will go back to the normal 16:1 ratio with Gold.
I buy coins as a way to hide money and with "hope" that the price may increase as forecasted.

[Samseau]

(10-19-2012 04:21 PM)rudebwoy Wrote:  

I should have got more silver coins when the price was at $27, but I got lazy. The powers that be are suppressing the price of Silver, hopefully this nonsense will stop and Silver will go back to the normal 16:1 ratio with Gold.
I buy coins as a way to hide money and with "hope" that the price may increase as forecasted.

Oh, it will. QE3 is here and we'll see major inflation.


One thing to look out for is if Romney is elected. He said he doesn't like QE3 and he might try and pull Bernanke out of power.

If Bernanke is removed from office, I'm selling every PM I own.