Posted on 09/08/2010 6:24:15 AM PDT by blam
Gold Breaks $1260
Joe Weisenthal
Sep. 8, 2010, 8:32 AM
The march continues.
[snip]
(Excerpt) Read more at businessinsider.com ...
Silver hitting 20. Not good.
Three areas of Preparation: Mental, Physical & Spiritual also Gold, Silver & WROL Scenarios
As the 2010 elections become a forgone conclusion so will the
prospect of a weaker dollar. With our debt load and a standoff between the potus and the congress, the fed will have no choice but to implement QE3.
debt is the four letter word we're going to have to deal with one way or the other.
If we find a way out without major economic dislocation, it will be the first time in history any country has.
If and when it hits 24 I have 35 lb in coin I hope to sell.
When the Hunt Bros tried cornering the silver Mk. silver was twenty four to one. I received $2.400 for one hundred silver dollars.
I started collecting silver at the age of fifteen, I'm now sixty six years of age.
Once this thing gets going, I don't think you'll see a retracement of silver or gold prices as has been the case in the past.
This may be a whole new ballgame...
I used to have some but lost them. I had about 20 but have no idea where they are.
When I was younger I met an x CIA agent (retired). he was in Japan during the depression. He informed me the only goods moving were with the people who had silver and gold, he called the silver and gold, “realastate”. He said having gold and silver were REAL, tangeable objects, like owning property and the trading was all done on this basic.
I Suppose with gold and silver at an all time high it may be a little too late to purchase for the sernero dipicted in this video?
What was gold’s highest price/oz in the past 50 years? When? Curious.
Concerning your question, If I don't own any gold or silver, I would certainly purchase, maybe one month's income worth of 90% silver coin or eagles or Canadian maple leafs whatever the price.
If after acquiring several month's worth of food and other necessities, (goes for the above as well) I would look at buying gold and silver on dips (with cash on-hand) until I accumulated a reserve that I felt comfortable with. In my case, about 2/3s of my available savings.
When ever in doubt, go with what you see happening, history and be practical about things. Everything else is noise and propaganda IMO.
While I have no doubt that the current worries over the economy and our government are factor - can we really ignore the fact that so many pundits, particularly some of “our” favorites, are pimping for gold these days? And those who are doing the most pimping are those who stand to make money off the gold rush.
Just sayin’...
Agreed, there is defiantly a lot of propaganda, especially via the Internet.
However, I feel even the uneducated feels uncomfortable with current events, not only in America but, world wide.
Currently there is, (world wide) food shortages, floods, drought, earth quakes’ are making for unstable markets.
Food prices have risen five percent in the last couple of Mo’s and, indicators are saying another 10% in the next few Mo's. Coupled with higher energy cost, double power rates in the next five years.
As you have stated, use common sense approach to all situations, this would apply to all of life situations.
I have given a great deal of thought to this idea also.
I have what little I own in a two ton safe, at an, un-disclosed location.
I have three children,(adults) and, I have told them, in case of my demise, save the silver for such a scenario for the future, you may need this to purchase food items for your selves.
BTW.........thanks for the re.
Unfortunately, that's old school... But what once was old, will be new again someday(except for you and I). ;)
Even my spendthrift kids have started being frugal and are starting to take pride in delicious evening meals instead of eating out. I think they're starting to realize the MTV lies.
Commercials by physiologist and education by government has taken its toll. This is all our fault and not theirs for allowing it. Personally, I didn't see it at the time because I was too busy trying to make a living but my taxes and down time all the while was contributing to our eventual downfall.
Now it seems that things are going to get seriously worse before ever getting better. Maybe worse than the great depression and WWII.
I hope people understand what the two different “currency” metals are for...
silver is for trade following the collapse of the fiat currency
and gold is for preserving your wealth for the time on the other side of a recovery.
Dig baby!!! Dig, find those jewels in case of an emergency.
Thanks for the re.
And unfortunately, maybe sooner than most expect.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.