Posted on 02/19/2009 3:11:49 AM PST by TigerLikesRooster
LLS
It was interesting at the peak last summer. Gas got dragged up along with oil since it can be a subsitute of sorts. Then gas petered out and started dropping, but oil went back up for one last double top. That divergence told me that oil was manipulated (if that wasn’t already obvious with Iranian saber rattling, etc). The last little oil bump in early Jan ($50) seemed a little contrived to me and wasn’t confirmed with gas. But now I think both have a chance to put in a real bottom. But FSENX looks good to me now at $28. ANother dip to $25 is certainly possible but if you don’t want to stay up at night watching it, then just move now.
The only possible problem would be that Obama and friends HAVE the "authority" to ban the private ownership of gold (again, as FDR did in 1933). I can see him doing the same thing as JFK, where he declared that even gold owned by Americans in foreign lands was to be confiscated.
If you have gold, be sure that there's no paper trail. If buying gold coins, make sure they're "collectible," in order to protect yourself from confiscation - it worked in 1933, but back then the government sort of followed the parts of the Constitution it felt like following, not like today. I can't help but wonder if jewelery might be safer.
Actually, I'm thinking that the best investment right now may be canned goods and shotgun shells!
Mark
One can carry an extraordinary amount of AU without attracting notice - that’s part of why it’s been used as money for centuries. Cash weighs more at this point, I’d wager.
....The price of gold will drop as investors pull their money out,......
With the unheard of increase in the money supply continuing, the price of gold will continue to rise in the coming masssive inflation.
Ride out the storm. Bail a little if necessary but ride it out. The shares may have declined in value but they are still shares.
I am not a financial adviser but have played one on my web cam
Not unless they choose to CONTINUE to violate their oath to support and defend the Constitution - as in: No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts...
Actually, I'm thinking that the best investment right now may be canned goods and shotgun shells!
Those are necessary companions to gold and silver.
Is there such a thing a *fiat* gold? I know there’s only a limited amount available.
Looks like the run on the USD this week has been setup for the push into soy, wheat, sugar and corn futures as a hedge to maintain capital. Watch what food prices do in the next 3 months.
Not unless they choose to CONTINUE to violate their oath to support and defend the Constitution
Do I really even have to say anything here?
Mark
UHM, Favorite weapon system?
Really? How?
Governments can also pull legal switcheroos with fiat currency, and leave you destitute over night. They can lop off zeros, or give you one week to turn in all cash for "New Dollars," after which your old greenbacks will only have souvenier value, like Confederate dollars.
They have no ability to do this with your gold, which is why they hate it. Gold gives the power to those who possess it, not the govt.
Only God can create even one ounce of gold.
Try to put it in your gas tank. In the end, oil trumps gold. Try to sell bullion to the avergae joe too. Good luck with that. Try to buy groceries with it. Good luck with that too. Furthermore, despite all the rumblings about inflation, we’re actually in a deflationary spiral right now which, if unchecked, will make cash King within a couple of years. That being the case, I honestly feel safer sitting on dollars right now. I feel so strongly about this that I pulled $10,000 out of my IRA this week and I’m putting it in the safe as is. I will probably pull another $15,000 out in the coming months too. Look at the CPI. Look at GDP. Look at the unemployment rate. Look at retail sales. look at housing prices. This is deflation man. Serious deflation. And what happens to commodities during deflation? Go ahead and sink your nest egg into useless hunks of metal.
If they try to ban gold, they might as well go “all in” and ban guns at the same time. They can save money and try to confiscate both on the same trip. The result will be the same in either case.
Try to save a lifetime supply of oil and gas in your garage.
I can buy a lifetime supply of gas and oil at any time or over many years with the gold I can fit in my pockets.
It’s shiny!
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