Posted on 07/06/2009 6:00:00 PM PDT by TheFreedomPoster
“Gold stocks represent a great place to be. In any economy where the central banker is widely referred to as ‘Helicopter Ben’ you’d better own some gold,” Tice advised.
(Excerpt) Read more at myfreedompost.com ...
All I want to say is that with four "buy gold" radio commercials per hour, it literally can not be the right thing to do.
ditto that. some gold, some silver, some lead, for a balanced portfolio!
Owning some Au is one thing; buying it right now near its all-time high is another. I can understand people being hesitant.
agree i would be shorting gold. i think gold is going to 500 to 600 and ounce. there will be no inflation for a little while. too much debt and too much wealth being destryed. the money the gov is printing is not making its way to the private sector.
“Foreign purchasers of T bills are BAILING OUT!!!”
If that is true (and, I agree, it is) then
“Get out of the Dollar!!”
is *NOT* the called-for course. If foreigners are selling T-bills, then the face value will decline and the coupon (int rate) will RISE. This will strengthen the dollar. Which will weaken gold.
Trying to find another non-inflating currency is no walk in the park. Euros? Bah. Maybe. GBP? No way. Canada dollar? Ehh, if commods tank, then so will the loonie. Brazilian Cruwhatsits?
When the SHTF, you’ll be able to buy so much more with green cash dollars that IMO that gain will swamp anything you can accomplish moving from fiat A to fiat B.
I also agree about gold commissions, but they are more in the range of 5%-7%, but yes, in and out.
I have a question. If the fit hits the shan what good is gold? I know some people crave it but will grocers, gas stations, etc really take gold for payment? If you have a pound of gold how long will it really last?
Zat so? (See tagline)
“All I want to say is that with four “buy gold” radio commercials per hour, it literally can not be the right thing to do.”
Did you use the same criteria over the past three decades, when you were evaluating the merits of the ‘four mortgage loan commercials per hour’ or the ‘four investment broker commercials per hour’?
Yeah, chartwise, gold has entered into a risky consolidation range to be buying here. Buying here, you’re within 10% of the all-time high, with formidable and vicious resistance to break thru if it’s gonna happen. Far more likely, IMO, is that buyers here get trapped in the thing to the low-mid 800’s.
And those radio ads....ugh. Can’t be right, it never works that way.
I did. When they are hawking something like that then you know they know it's going to tank soon.
No, because radio mortgage ads were, as far as I can recall, nonexistent before about 2003-2004. Besides, the very idea of going with a mort broker who advertised on the radio always seemed somewhat odd to me; the appeal (to me) is low rates/low points, something not especially in alignment with high overhead.
And I never heard four stock broker ads per hour, except maybe on CNBC or Bloomberg, where I’d expect them to be. But as well, I haven’t been in the market for a full service broker for at least ten years.
They were ‘hawking something like that’ for 30 years and people made fortunes in real estate and in the stock market. So anything that is advertised regularly cannot possibly be a good product?
Gold is not a total joke.
Buying US government gold coins(eagles) is a joke, yes. Buying canadian gold maple leaf coins is a joke, yes. Buying british gold britanias is a joke, yes.
Buy J&M gold rounds or Englhard gold rounds from an honest gold dealer, NOT A GODDAM PAWNSHOP OR RARE COIN DEALER and you should do ok. You still have to pay a premium, and that sucks, but they gotta pay their shipping, wages and rent somehow.
Do not buy gold in a state that charges sales tax on gold. Mail order the coins if you have to.
Do not buy gold right now. it’s dropping fast.
Keep an eye on the gold price. It fluctuates alot not just from day to day, but from hour to hour. Also, keep an eye on premiums(this is the amount over gold price that dealers pay. They fluctuate too.
When the stars are aligned just right, premiums will dip down at the same time gold prices will dip down...AND THEN YOU PICK UP THE PHONE AND MAIL ORDER YOUR J&M OR ENGLHARD ROUNDS AND LOCK IN YOUR PRICE. Then sit back and watch the price go up.
It seems to me that silver rounds should be a good buy in about 2 weeks. But that’s a guess.
The financial services industry has always been among the most visible and regular advertisers on TV, radio, print, you name it. And they reference all their services, real estate loans, stock brokerage, banking, you name it. You guys are really reaching if you’re going to tell me that companies like Prudential, Merril Lynch, Smith Barney, Morgan Stanley, Oppenheimer, Bank of America, and about 100 others weren’t advertising on every TV show, ballgame, radio show, you name it.
Fine. Your point is...?
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