Buying Silver At $100 And The Rebirth Of Counterfeiting

TMO ^ | 1-20-13 | Dr Jeff Lewis

[IbJensen]

If Americans were permitted to print their own money it would be worth as much as that being regurgitated by edict of the FED.

[blam]

Gold...Buy The Dips

"Jim Rogers, billionaire and cofounder of the Soros Quantum Fund, publicly stated two months ago that he plans to “sell federal debt and purchase more gold and silver.”

[InterceptPoint]

If Americans were permitted to print their own money it would be worth as much as that being regurgitated by edict of the FED.

A point often missed.

The difference between you and me is that if we print counterfeit money we go to jail. When the Fed does it, nobody goes to jail. The economic consequences, however, are identical.

[sten]

silver typically trades 40-60 : 1 on gold (currently 53:1)

if silver were to trade at $100/oz... that would put gold around $4000-6000/oz (let’s say $5,300/oz at today’s ratio)

this would be about a 215% jump in gold price... which would mean:

* gas would move from $3.40/gal to $10.71/gal
* bread would move from about $2.99/loaf to $9.42/loaf
* deli roast beef would go from $8.99/lb to $28.31/lb

pretty much exactly what 0bama and the commies on the left have been pushing for over the passed few decades.

[count-your-change]

“While nothing is wrong with silver Eagles, it does take longer and longer to realize the intended return on investment. Furthermore, you do not necessarily get the premium back if and when you decided to trade or sell your coin(s).”

I buy Morgans not as an investment but as a means of having something easily converted into dollars and as a means of a hedge against the inflated Fed notes.

[Pining_4_TX]

Walter Williams said that if a person is arrested for printing money, he should claim he was merely engaging in monetary policy.

https://www.youtube.com/watch?v=EoS52fVtVQM

[bert]

If counterfeiting of coins is a problem and if there is a premium that is not redeamable on selling, why not just buy silver?

Silver can be purchased fine .9999 or sterling .925 from lots of places. The Navajo silver smiths literally stand in line to purchase small quantities of various thickness, widths and lengths of silver sheet in the Gallop New Mexico supply houses. These suppliers also sell casting grain, BB size pellets that can be weighed out in very small quantities.

The same shops also purchase silver. The scrap left over after fabricating is saved and returned. It is graded depending on if it is pure or contains solder or other such impurities.

The trade in silver is very active in the southwest

[blam]

Going in a few minutes to look at these:

Bulk Silver SALE - $26 (Summerdale)

[762X51]

I’m not buying silver as an “investment” to hopefully be converted back into more worthless paper dollars than I paid for it. I’m buying it as insurance so that when I need to buy a chicken at some point in the future I’ll have something of value to trade!

[blam]

"I’m buying it as insurance so that when I need to buy a chicken at some point in the future I’ll have something of value to trade!"

I like scrap silver coins because everyone recognizes them without suspicion, etc.

Insurance, insurance...not investing.

[GraceG]

Why Buy Silver, I am saving up for some Platinum, if I can make the coin right I will be richer than bill Gates after I make a Treelion Dollar Platinum coin!

One, Treee-Lee-Ion Dollars, Mwahahahah!!!

[count-your-change]

“precious” metals are where we find them. I've made good money from gathering up old lawn furniture and t.v. antennas to be sold for the scrap aluminum in them.

[Toddsterpatriot]

The difference between you and me is that if we print counterfeit money we go to jail. When the Fed does it, nobody goes to jail.

The difference is the Fed doesn't print counterfeit money

[Orange1998]

$6.50 for one silver quarter? 26 times the value. The cost of a 15K house in 1964 should cost $ 390,000 today. No wonder economist say housing is cheap.

Or price of silver is a bubble. My guess would be silver is priced right.

[Ruy Dias de Bivar]

Sigh: I still remember when silver was REAL MONEY! In Utah my dad got paid in REAL SILVER DOLLARS!

Even the paper money had the words...”Pay to the bearer on demand, in SILVER,.....”

Anyone remember when GOLD was real money?

Anyone remember when the SUPREME COURT OF THE UNITED STATES declared GOLD and SILVER the ONLY legal tender in the US?

[M-cubed]

I’m buying it as insurance <<<<<

BINGO!...We have a winner!!!

[Hugin]

FYI, silver coins are not pure silver. IIRC, a quarter has about .18oz, not .25, so that’s not $26 an oz, more like 33. Still, ot a bad deal though.

[Manta]

How did you arrrive at 6.50?

http://www.coininfo.com/

Shows about 5.75 as current price

[SES1066]

Dear "El Cid?" - Your post caused me to go back to read that most famous campaign speech of William Jennings Bryan, his "Cross of Gold" given at the Democrat Convention in 1896. While this appeal to the then burning issue of 'bimetallism' (silver AND gold as reserve metals), this bit earlier in this speech reminds us that the appeal to class warfare and 'fairness' has a very long history in the Democrat Party;

Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.