Posted on 04/11/2010 8:17:32 AM PDT by JustTheTruth
Thanks...I feel a little better now(I guess).We don’t have any gold in our portfolio. I have been thinking of getting some, but didn’t want to buy at the high. Dave Ramsey says that’s kinda stupid. If all hell breaks lose, I think bullets will be worth more than gold or silver anyway...lol. Bullets and Beans...that’s my ‘investment strategy’ until Obama and the marxists lose power...lol.
Didn’t ZeroHedge have a story on this a long time ago?
This is why The Fed must be not only Audited, but it is far past time for it to be ABOLISHED. Our currency is worth less than a silver penny was in 1940.
DELIBERATELY to enrich entities such as the Fed.
Yep. Naked short selling is just evil.
You’ll have to provide evidence that the USA has hocked fort knox.
that said I wish your gold investment will perform well for you.
here we go ...
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The better gold looks the worse the fiat money US Dollar looks. The worse other fiat currencies look. The Fed issues these Federal Reserve Notes which are backed up by debt. Gold has an intrinsic value, not some value from being able to theoretically cash it in for a debt note (TBill). Fiat money is a profitable scam and gold busts it wide open. Fiat money is now digital and a computer notation making it more ephemeral than ever. Those who profit from the fiat money racket despise gold because it exposes them as scamsters same as Goldman Sachs and other Wall Street creeps
Worth of gold held by USG is roughly 300 billion dollars which is not that much in the great scheme of things....so those holdings do not figure into the Feds policy to suppress the gold price
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From you mouth to God’s ears!
The dollar may not decline againt other currencies, but still may wind up heavily devalued.
IOW, 5 years from now, the dollar may still buy (approx.) .8 Euros and/or 100 Yen, but it may take 10 dollars to buy a loaf of bread or 5,000 dollars to buy an ounce of gold.
See what I'm sayin'?
Dollar vs. the Euro, Yen, Pound etc. is good for currency traders, but not very good for determining real value.
Hmm, if one is saying “you have invested in Gold and now only hear what you wish to hear with no facts to back it up”
You’d be mistaken, I won’t say Gold is a bubble, I will say that the run up in price has been steep and “if” a second wave of credit defaults does mangle the economy further, Gold will be sold off, causing a steep decline in price.
That said, I know for a fact that some, not all, contracts for the delivery of gold are being settled in cash, not gold, for a 10% premium IIRC that happened on the London Market.
I also happen to know that the carry trade has several National Banks in very risky positions.
This is a huge deal.
Wow. Just “Wow.”
Yes I understand. However, its best not to extrapolate the events of today out 5 years. Right now the likelihood is that the growing economy is going to grow federal receipts and the republicans will return with a vengeance this fall and spend the next year cutting the federal budget.
What happens to the dollar when the deficit goes from 1.5 in trillion in 2010 to 1 trillion in 2011 to .6 trillion in 2012.
I don’t know. But it wouldn’t be prudent to think that things will remain the same.
bttt
Yes, if it was costing me $5 on the back end and also not telling me they were doing it so that I’d throw away my money under the then generated false pretenses.
That is an idiotic complaint.
That is actually because when the markets are down, most of the money is in bonds. Bond market closes before the stock market closes.
So if the money is in bonds all day, then the bonds close, the money shifts to stock.
Sort of like basketball!
Maybe, though I believe that any pull back would temporary.
Also, I am still of the opinion that one should not view these metals as investments per se. When (not if) major currencies go in the crapper, gold and silver are going to look different to a lot of people. So are a lot of tangible products. How'd you like to have a warehouse full of liquor and toilet paper in a real crash?
IMO, if it were widely admitted how much of US debt is being covered by printing money and keeping obligations off the books, we'd hear the swirling toilet water around us right now. Or, from the other angle, how much of the debt is actually being purchased by legitimate investors/parties? Less than anyone is willing to admit.
It all goes back to the issue of what would be our medium of exchange if major paper currencies collapse. We don't really know. But it is a pretty good bet things will be a lot worse than the Great Depression.
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