Gold Has Biggest Monthly Gain in Nine Years on Demand for Haven

Vanity | 11-28-08 | Vanity

[LegendHasIt]

We aren't allowed to even link in the posting source URL box or excerpt this source, but this article is worth a look:

CLICK ME

[LegendHasIt]

The headline pretty much says it all. Nothing absolutely earthshaking to those who are paying attention, but worth a moments look.

[LegendHasIt]

Precious metals ping list.

[djf]

There is about one ounce of gold per person on the planet. A bit LESS for silver.

Do you have your ounce?

[LegendHasIt]

Also, in related news from the same source;

I hadn't seen this 4+ day old article until now, but it is a bit startling to me and I thought I had been paying attention to the 'bailout follies'

[LegendHasIt]

Interesting you should bring that up, I've been remembering something one of my old geology or metallurgy profs told me a couple of lifetimes ago:

"If you put the entire earth into a crusher, ran it through a mill and a smelter, you would end up with more gold than silver."

Meaning, of course, that gold is more ubiquitous than silver... it is just that silver tends to be more highly concentrated when you do find it, therefore more economically feasible to recover.

AS to gold and silver, I have a bit more than my fair share, despite yesterday's intended gold buy not happening despite best efforts.

But I did learn something worth relaying when I was paying for yesterday morning's silver order: As I was getting a cashiers check to send to APMEX, I was informed that name , address, telephone number, driver's license and social security numbers are now required to be reported to the government on any cash transaction of $3,000 or more.... It used to be $10,000, but I guess they lowered it sometime recently.

That bothers me just a bit.

[BullDog108]

They lowered it after 9/11/01.

[LegendHasIt]

Hmm, Really? I know it was instituted in ‘86 or so, but thought it remained the same AMOUNT after 9-11... just that they tightened it to ANY $10K transaction, not just cash ones.

Well, it isn’t often I do $3K cash transactions, so I could have missed it.

[ovrtaxt]

And if they come around, asking about those big transactions to mints and bullion dealers, you can always say you sold it for dollars and paid off debt.

[LegendHasIt]

Some wit, somewhere, the other day said he was going to tell them he traded it for crack and smoked it all up.

[Tanniker Smith]

Big gain, but it's still down compared to where it was when I considered getting in ... and finding out that it had to make another 20% before I would make anything because of the cost of getting in and getting out.

Ah, well, I could only afford an ounce anyway.

[Diana in Wisconsin]

Thanks. We’re still way up from 9 years ago on gold and silver. I ignore the neigh-sayers, since I’m actually DOING this, along with other investments. Not everyone is losing money these days. :)

[library user]

That timeline of 9 years sounds about right since 9 years ago was 1999 and nobody was buying GOLD in 1999. LOL. That was when the stock market was going gangbusters.

[Diana in Wisconsin]

We fooled ‘em all. :)

[oblomov]

Oh, I was buying gold in ‘98 and ‘99. Unfortunately, not enough of it.

[BlackVeil]

That article about bailout follies is alarming indeed.

The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system ...

Why is this allowed? Why no discussion about alternatives? Why no discussion about responsibility and consequences?

[LegendHasIt]

"Why is this allowed? Why no discussion about alternatives? Why no discussion about responsibility and consequences?"

Any answer I could give you would be pointless and repetitively cynical.

[Lurker]

My answer would get me banned from the forum.

L

[Lurker]

Remember what I told you about gold my dear.

L

[Diana in Wisconsin]

I will. :)