I've been buying silver every payday.
Posted on 11/20/2010 4:30:37 PM PST by CincyRichieRich
As the editor of the Silver Bear Cafe, I try to focus on the ramifications of world events. I try to understand how what's going on now will affect your pocketbook next week, next month, next year. It is my sole intent to help you consider the possibilities which will, in turn, help you prepare for your financial future.
One of the most important aspects of your financial survival concerns your understanding of the nature of money. If you believe that precious metals do not constitute "money", you may have been misled. If you have been misled, who misled you? Why? And "What's wrong with this picture"?
What is money? The whole point of money is suppose to be the provision of a convenient and liquid medium that can be exchanged for less liquid value. It is a go between. One strives to accumulate money so it can be exchanged for something else.
In our illustrious history, we humans have tried everything from salt to sardines as a medium of exchange, but nothing has seemed to work as well as gold and silver. A person bringing a relatively illiquid item to market could swap it for gold or silver, secure in the knowledge that the metal would retain its value for as long as he chose to hold it and would be accepted as payment for anything he wanted when he chose to spend it.
The condition that your gold and silver will retain its value for as long as you chose to hold it is the most valuable characteristic of the "barbarous relics", and provides the fodder for me to champion the cause of precious metals ownership, and for my ensuing attack on the debasement of the American dollar.
(Excerpt) Read more at silverbearcafe.com ...
It’s unbelievable to me that Dodd, Frank, Raines, Bernanke, Greenspan and a bunch of others arent in prison already. They are a bunch of financial terrorists.
...keep in mind also,Soros is diving into GOLD.
Sales of 1-Ounce American Silver Coins Soar, U.S. Mint Says
Yes, the debasement continues and the price of commodities will rise. If your wages don’t go up along with the price of the commodities, you will be poorer. if they do, you won’t notice. We all know they won’t. barack Obama is redistributing wealth but not in the way his supporters had envisioned. Look at it another way though, throughout our recent history, we have used those fiat dollars to create things like aircraft carriers, F22 fighter jets, Cobra gunships, the M1 Abrams, cruisue missiles, and who know what else. We turned worthless paper into the mightiest war machine that has ever existed in the history of mankind. IMHO, it was a strong investment and in time, this will be more obvious to us. Our true challenge will be in preventing that military from falling into the hands of the fiat moneyed powers, operating from their secret conclaves, hollowing out our democratic institutions.
Soooo....since most average Joe's are not invested with gold or precious metals. What will see them thru? It appears nothing outside of bartering with what they do have and that certainly won't last for the long haul. At most one can fill a garage full of food etc. Even then once it is known you have it you'll have thieves at the door. Civil unrest is vastly understated.
Ping
Well, between Saudi and India and a host of others Obamas selling our military equipment to it looks like this has already started...and that without congressional approval.
Yes, the debasement continues and the price of commodities will rise. If your wages don’t go up along with the price of the commodities, you will be poorer. if they do, you won’t notice. We all know they won’t. barack Obama is redistributing wealth but not in the way his supporters had envisioned. Look at it another way though, throughout our recent history, we have used those fiat dollars to create things like aircraft carriers, F22 fighter jets, Cobra gunships, the M1 Abrams, cruisue missiles, and who know what else. We turned worthless paper into the mightiest war machine that has ever existed in the history of mankind. IMHO, it was a strong investment and in time, this will be more obvious to us. Our true challenge will be in preventing that military from falling into the hands of the fiat moneyed powers, operating from their secret conclaves, hollowing out our democratic institutions.
Obama is in cahoots with GE, Goldman Sachs(duh), GM, others...that means those favored companies in cahoots really creates a bit of a fascist dictatorship.
If those folks control the military, then their wishes get done and it (the military machine) does what it wants. I don’t think the leaders of those companies hate the US as much as Obama does. What’s your take?
American/Saudi TV can easily undermine any war or any leader in the US so the weapons can be largely useless. GE/NBC/CNBC/MSNBC has a very close relationship with the Saudis. The leaders of those companies care about the bottom line and staying in business. Just like the business leaders in Mussolini’s Italy and Nazi Germany.
Ping
Soros is diving out of gold.
"Soros Fund Management’s holding in SPDR Gold Trust shares reached 6.2 million as of Dec. 31, 2009, according to an earlier 13F filing. With sales over the past three quarters, that’s been reduced by 24 percent, Bloomberg calculations show. SPDR Gold is the Soros Fund’s largest single holding in the SEC filing."
There’s a difference between exporting our weapons and technology which is good and losing control of our military/sovereignty which is obviously bad. I have no problem with selling our weapons to whoever has the coin to purchase them. Better they buy our weapons that Russian or Chinese wepaons IMO.
Well, now.. let's look at that.
(Excerpt) Read more at silverbearcafe.com ...
Why excerpt for blog hits if the sole intent is to "help you consider the possibilities"?
Why not just post the whole content here.. unless somebody is lying.
I believe that the story you linked stated that he sold some 500,000+ shares of GLD but also purchased 5,000,000 of the ishares gold fund. So, far from selling, he was still a strong net buyer.
“Recent events have proved that the paper-money system of this country may be used as an engine to undermine your free institutions, and that those who desire to engross all power in the hands of the few and to govern by corruption or force are aware of its power and prepared to employ it. Your banks now furnish your only circulating medium, and money is plenty or scarce according to the quantity of notes issued by them. While they have capitals not greatly disproportioned to each other, they are competitors in business, and no one of them can exercise dominion over the rest; and although in the present state of the currency these banks may and do operate injuriously upon the habits of business, the pecuniary concerns, and the moral tone of society, yet, from their number and dispersed situation, they can not combine for the purposes of political influence, and whatever may be the dispositions of some of them their power of mischief must necessarily be confined to a narrow space and felt only in their immediate neighborhoods.” Andrew Jackson farewell address “We are not left to conjecture how the moneyed power, thus organized and with such a weapon in its hands, would be likely to use it. The distress and alarm which pervaded and agitated the whole country when the Bank of the United States waged war upon the people in order to compel them to submit to its demands can not yet be forgotten. The ruthless and unsparing temper with which whole cities and communities were oppressed, individuals impoverished and ruined, and a scene of cheerful prosperity suddenly changed into one of gloom and despondency ought to be indelibly impressed on the memory of the people of the United States. If such was its power in a time of peace, what would it not have been in a season of war, with an enemy at your doors? No nation but the freemen of the United States could have come out victorious from such a contest; yet, if you had not conquered, the Government would have passed from the hands of the many to the hands of the few, and this organized money power from its secret conclave would have dictated the choice of your highest officers and compelled you to make peace or war, as best suited their own wishes. The forms of your Government might for a time have remained, but its living spirit would have departed from it.” Andrew Jackson farewell address
Remember that for every buyer there is a seller.
I believe we will again see gold below $800/oz. and silver below $10/oz. I base this belief on the deflationary spiral that is enveloping the industrialized world.
Gold and silver are inflation-driven commodities. Many people are making the wrong call on inflation vs. deflation.
If we suffer major deflation, I believe it will be the result of a collapse of our fiat currency. If so, we can argue what the exchange value of silver/gold may be. But the real point is that they will be the medium of exchange (besides barter), not paper dollars.
So, they may indeed be (presently) inflation driven commodities, but they could still become the de facto currency if things get bad enough. A scenario which is morphing from possible to probable.
Cincy
“If those folks control the military, then their wishes get done”
A clearer picture of the degree to which our military command has been co-opted is at hand in the sparsely covered fortunes of one Lt Colonel Terry Lakin. If you listen real close, the silence you hear may be thunder.
Rab
I've been buying silver every payday.
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