Posted on 09/22/2009 8:51:15 AM PDT by h20skier66
The vast over-issuance of the U.S. $ internationally, has debauched its international value. In time this will lead to hugely falling buying power and translate into very high prices for the resources of the world.
Few believe the plans put forward to reduce quantitative easing will work as expected, as this will simply return the world to recession or worse still, depression.
Such liquidity reductions can only take place in a climate where confidence can be maintained as money tightening kicks in. This is not just inside the States but globally. So 'confidence' in the $ and its future value and credibility has waned tremendously even amongst foreign [particularly Asian] governments.
The globe's currencies are like branches of a tree coming out of a trunk. The U.S. $ is the trunk, resulting in the entire monetary system facing irreparable fractures should anything like another 'credit crunch' happen again. Most people believe that the current state of the international monetary system is headed towards such stresses.
Hence, gold is an alternative wealth preserver for governments, as well as individuals and institutions [demonstrated by central banks being net gold buyers now].
These are dramatic changes, the impact of which will form the foundation of our future global money systems. If the world's governments could act in unison over the issues facing the money system we have no doubt that monetary reformation would be so successful as to remove the need for gold in any part of the system.
(Excerpt) Read more at commoditynewscenter.com ...
Why don’t people consider industrial metals instead of gold? For example, nickel “rounds” used by electroplaters.
At today’s spot price of $7.58/lb., my .7 oz nickel rounds are worth about $.33 each.
You could do the same thing with copper wire.
Gold is more portable wealth, but the industrial metals are easier to use for small trades.
BTW, ref my post on using industrial metals instead of gold, I have seen some suspicious activity at scrap dealer yards that look like money laundering for drug dealers. No scrutiny by the Feds.
With all the guns and ammo buried here, they'll never find the gold. Ha!
In a (for lack of better words) breakdown of society scenario, there won't be much industry around to need "industrial metals".
You can hide some of your gold in my yard.
8-)
you don’t have to buy a 400oz bar (standard bar size in the movies)... you can get the bars of varying sizes. from as small as 1 gram.
some people swear by the coins, others like bars. for smaller then 1 oz, you’d prolly be getting bars.
do yourself a favor and shop around before buying. also investigate who you’re going to deal with.
you could also get other types of metals. silver has had a fairly good run recently as well. and it costs about $17 per ounce.
some links that might be useful:
monex: http://monex.com
24 hr gold price: http://www.kitco.com/charts/popup/au24hr3day.html
Pre 1982 (I think) pennies. All copper.
Might be handy some day.
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