Skip to comments.Why Gold Bugs Need to Stop Listening to The Fear Mongers and Start Thinking for a Change
Posted on 04/29/2016 9:36:04 AM PDT by blam
April 27, 2016
We are still not convinced that Gold is fully out of the woods. Peter Schiff is busy telling everyone that it was a bad idea to have sold Gold in 2011, we beg to differ for the trend indicates otherwise, and so does the price of Gold. He is coming out with scary scenarios though they are not as grandiose as James Sinclair's scenario that calls for Gold to move to $50,000 an ounce. Even, when we dream we find it hard to envision such a price, so it is interesting that he can come up with such targets without being under the influence of some strong medicine.
This is nothing but fear mongering, and the markets are ruthless to those who are driven by fear or euphoria. If Gold were to trade to $50,000 an ounce, you would be living in a cave with bats and guns, as the world as you know it would have fallen apart. Individuals like this fool the idiotic fashion hard money crowd into thinking Gold is the solution to all their problems. We use the word fashion because they know just enough about hard money for it to be dangerous to their health and wealth.
As long as man does not evolve, man will find a way to rob from Peter and Paul. So Gold standard or rubbish standard matters not for you need to change the mindset of the beings that control either medium. A little knowledge is extremely dangerous and worse than ignorance and most of the hard money crowd understands next to nothing when it comes to Fiat money. That is why the Fed gave the hard money crowd a thrashing...
(Excerpt) Read more at marketoracle.co.uk ...
I always laugh when I hear gold commercials now.
Silver is a better bet. It’s not that expensive and if you’re a prepper it makes it much easier to deal with.
Lots of vintage silver coins available too.
Silver if you are going to use the coins as barter or prepper currency. Need to have a mix of junk silver coins and silver bars. That would also indicate the need for a safe and not a small one. False bottom to a gun safe works as well.
Gold (physical gold) if you are looking to protect large quantities of currency, i.e. not really used for barter. This is mostly for protecting long term finances. Bars work better than coins in my opinion. This should be in a real safe. Don’t skimp and don’t try to hide. If you can think of a hideaway, so can the thief.
** when buying gold or silver, buy anonymously! Use cash or a prepaid card that you paid cash for. Do not use a bank account, bank card, etc. Cash at pawn shops or gun shows works really well. Get a spot price from the Internet so you know how much above the current spot price the seller is asking for **
Gold (paper / certificates / account) if you are using it as a trading medium. Don’t expect this form to be available if the economy collapses. Also, if you store your physical gold in a bank, expect the feds to seize the gold during the collapse. This form is also HIGHLY traceable for taxes and ownership.
Over the past two years, I've been striving to get through the hype and figure out the whole thing about metals. I agree with you about silver. I'm speaking as a person with limited assets. I have to be concerned with how do I get the correct value when it's cashed in.
Here's where I'm at FWIW. With gold, there's the issue of purity. That's both in not getting ripped off when purchasing it and the ability to get full value in crisis times. It's also less sturdy.
As far as someone keeping the gold in safe keeping for you? Forget it. We'd NEVER see it in a crisis situation.
I'm self-educated about this, a lot of my info coming from Freepers who know a lot more about it than I do. Please, anyone who has input, correct me where my thought process is in error.
"dware, a hundred years ago, an ounce of gold would buy a person a nice, tailored men's suit. Today, an ounce of gold will by a person a nice, tailored men's suit."
It always amused me how gold dealers were always so willing to take my “soon to be worthless cash” in exchange for their “stable value” gold.
Precious metals will not truly increase in value. It will instead be that it will require more fiat dollars to purchase them.
If the fiat dollar loses most of its purchasing power, it is not hard to image that precious metals prices (in fiat dollars) could increase dramatically.
The indicators suggest that the precious metals stocks have just reached a breakout point. Certainly a good day today, although things have pulled back a bit from this morning.
Due diligence. . . .
I agree. Also purchased fractional gold in various coin and ingots. Cheap enough and feels really good to hold silver, gold and plutonium.
It may end up being a stupid idea, but if not....well shucks.
They are funny that way. They just want to do you a good turn. :-)
I hope you aren’t *really* holding the plutonium :-)
Because the myth that gold has “intrinsic” value completely ignores history and why gold was used as currency. The fact of the matter is that all money is fiat money, some of it is just prettier.
>>I hope you arent *really* holding the plutonium :-)<<
Well I hope that’s ok. I’ve lost a lil weight and sportin a brand new bald head, lost a tuffess or two.
Damn that spell check. Pretty bad when ya gotta spell check the spell check. lol
I have both gold and silver coins. When the SHTF, coins will be more liquid than bars. I also collect brass, copper and lead in order to protect my precious metals.
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