Posted on 11/28/2012 6:39:45 AM PST by blam
Good question.
Barrick have bills to pay (especially with the issues at Pascua-Lama): they can't hoard that much of their product.
Gold Miners *should* store a portion of their product, whenever they can. But 'official' pessimistic pricing models used by their insurers/creditors and quoted against them by hostile shareholders can cause all kinds of problems.
I read that people who buy gold as an investment are speculators or fools
Its smarter to view buying gold as a means of preserving wealth, making price spikes and falls far less meaningful
Look far into the future and consider what you now hold as “wealth” will fare, and be valued, If you think guns and ammo are better means of preserving wealth, then buy them and good luck. If converting 10-15% of the value of your stocks and bonds into gold by selling them and then buying bullion seems like a reasonable hedge, then go for it and use price drops as opportunities
I think daily prices and commodity deflation are less menaingful over time, especially given the various ways of price manipulation of market spot prices by governments and large investors ... I think the Chinese have a lot of “influence”
buying food tools and land is not a viable option for millions of urban dwellers and suburbanites
a single silver dime is now worth the equivalent of a gallon of gas or 2 loaves of bread, two silver dollars will fill a tank or a small grocery bag.
Based on history there is at least some prospect that the correlation in value of silver (or gold) to staples will hold in a survival scenario even based on primitive barter
Junk silver is easy to acquire and store and carry if you have to. No matter what, there will always be trade and barter and gold and silver have been valued for barter for thousands of years
Here is what happened. Basically, this was a take down by the bankers to line their pockets. Nothing more. I must say though that the charting pointed to a take down in an uptrend market and was nothing to fret about. Unfortunately, every single time there is a blip on the radar screen all the gold expert wannabes give you a 1000 reasons to slit your wrists. Here is the answer. Flash Crash in GOLD A Real Whodunit-— http://www.jsmineset.com/2012/11/28/flash-crash-in-gold-a-real-whodunit/
Today I’m looking for your report on silver “soaring”, gold “skyrocketing”, and oil “rebounding”.
Because they’re mostly back where they started yesterday r above.
“buying food tools and land is not a viable option for millions of urban dwellers and suburbanites”
Why, are they chained there?
Survival is not viable for millions of [sub]urban dwellers. Don’t be one of them. MOVE.
ha ha ha- that’s a joke
the dispossessed will “move” when they need to
and there are more of them than you have bullets and body bags
Good luck to those preppers with their multiyear siege plans and 2 year supply of beans
You got a better idea?
“I question alcohol as a barter item. It’s so easy to make it won’t be scarce.”
Bombay Sapphire vs bathtub gin.
Easy to make is one thing, made to high widely-recognized standards is another.
I rather love these sell offs as it gives me time to load it up.
sufficient junk silver and some gold, to go buy a piece of remote land and not lose every dollar saved if the banks go on permanent holiday
some knowledge of basic survival skills and natural medicine, lots and lots of advil, tylenol, aspirin (years worth) and other first aid supplies and manuals- dont take up much space
a seaworthy sailboat (and lots of charts) ready to go south if walking away is the last resort
good walking shoes for everyone - always. Lots of dog food.
If we had to leave I’d prefer to burn down my own house and everything in it to having it seized by rabble
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