Blackstone Group Sees Gold Rising to $1,500

CNBC ^ | 05/19/2010

[Kozak]

Yeah but get silver too for normal buying and transactions during a lawless chaotic breakdown. Silver has always been valued too. Gold is the ultimate but silver has it’s place.

No argument here.

[SeekAndFind]

Yeah but get silver too for normal buying and transactions during a lawless chaotic breakdown. Silver has always been valued too. Gold is the ultimate but silver has it’s place.

OK here's a question. I own both Gold and Silver via the exchange traded funds (ETF) through the symbols GLD ( for Gold ) and SLV ( for silver ).

These funds are supposed to be backed up with physical gold and silver that are in the vault.

Thus far, I have been doing extremely well in these two symbols, especially the past month.

Question --- are these useful when the SHTF ? Or are they useless ?

[RegulatorCountry]

Question --- are these useful when the SHTF ? Or are they useless ?

Without even touching upon the controversy over "paper" gold, do you really think you'd be able to get through to sell in any WTSHTF scenario? How do you define WTSHTF? Will the exchange even be open and functioning?

Sounds like you've made a nice profit but it's not going to be a useful thing in an economic collapse or societal breakdown. If that's your concern, it would need to be at least more accessible if not literally in your possession.

[sbMKE]

Funny - others are saying this morning that gold is heading for a dive to $800.

http://money.cnn.com/2010/05/19/news/economy/gold.price.collapse.fortune/

[stefanbatory]

translation: Blackstone has some gold it wants to sell

[SeekAndFind]

If that's your concern, it would need to be at least more accessible if not literally in your possession.

If I were to take physical delivery of the amount of gold and silver I own through this ETF ( which I don't even think I can do), I'd need to construct a vault myself.

[panaxanax]

“You can’t eat gold and good luck cashing it in when the SHTF.”

Good morning Sarge,

I’ll trade you my extra food and guns/ammo etc. for your gold & silver when the SHTF.

Call me,

panax

[panaxanax]

“...rather than “chopping” a one ounce bar in half for fractional purchases.”

Buy small denominational silver coins instead.

[TSgt]

I don’t own gold. Just food and ammo. ;-)

[dennisw]

OK here's a question. I own both Gold and Silver via the exchange traded funds (ETF) through the symbols GLD ( for Gold ) and SLV ( for silver ).

These funds are supposed to be backed up with physical gold and silver that are in the vault.

Thus far, I have been doing extremely well in these two symbols, especially the past month.

Question --- are these useful when the SHTF ? Or are they useless ?

Totally useless for SHTF scenarios but it is far from 100% certainty this will happen. Maybe things will stay glued together enough but gold and silver will rise steadily. Then you look smarter than all those physical gold/silver guys because you never had to screw around paying 5-10% premiums when buying and getting a safe deposit box or burying it in the back yard

I would say 50% chance this is what will pan out and you'll do just OK

The downside of the ETFs you mention...that stuff is all over the internet where you can get more details. But it pretty much amounts to this---->>>
Just look at your gold ETF as a bank. This bank does not have have 100 million dollars worth of physical gold in its vaults for the 100 millions of dollars it has taken in from people like you to buy them gold the easy way. It has more like 33-66 million dollars worth of gold in its vaults. The rest is paper gold in the form of gold futures, gold derivatives  etc

Not that your ETF even has vaults with gold in them. More like it contracts with a secure vault to hold gold bars for them. These bars might be segregated (the best) in a separate bin. Or co-mingled with other firm's gold

[dennisw]

you are always right on K! :)

[WKUHilltopper]

I have some of that too and some silver. I just hate to part with it! hahaha...cigs would be easier to trade off (if they’re not menthol)...lol!

[G-Man 1]

I have some gold coins I purchased in 1973, I don’t think it has gone to sh-t.

[dennisw]

ping