Posted on 11/28/2012 6:39:45 AM PST by blam
UPDATE: Gold Just Tanked, Silver Tanked, And Oil Is Sliding
Joe Weisenthal
November 28, 2012
It's unclear what just happened, but as US trading cranks to life, commodities have dumped.
Gold just dropped about $15/oz in a couple of seconds.
Kitco
And here's Silver:
And oil is fading.
(Excerpt) Read more at businessinsider.com ...
Women actually looked like women then, not young boys with fake boobs added.
Silver has already gained back 60% of it’s whopping 3% loss from earlier today.
This is just another day in the Obama precious metals market.
Well it looks like the Plunge Protection Team came in and saved the market for today and Au & Ag are gaining back
And how much paper money will the government pay you for your gold when they confiscate it?
Oh, wait. The government would NEVER confiscate gold owned by private citizens.
If the government can ban the ownership of gold, they can ban the ownership of lead.................
Gold’s downward move explained here: http://www.kitco.com/reports/KitcoNews20121128AS_focus.html
Sugar is excellent for bartering. Keeps forever. Can be traded as food or distilled into ethanol....for medicinal purposes only.
“Tanked” is a bit strong...$20-$30 moves in gold are pretty common these days. Gold vs. the dollar is a bull as long as Bernanke/Obama are in power.
Nope, not available.
I just want some plain jane XM193. No one has any. Not sure about 7.62x39. There is some 7.62x51 available.
People are hoarding right now.
“I’ve always wondered, “If GOLD is such a great investment, why are they trying to sell me some for paper money?”.............”
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
You could say that about any investment, of course there may be a time when the paper money is relegated to its true value which is only what the paper is good for such as tender for starting fires etc. If that day comes, which I see as more and more likely, then those who sold gold for cash may not look so smart. Personally I think canned beans, dry beans, canned tuna, clothing, toilet paper, brass and lead etc. are better investments if you really expect TSHTF. By the way if you were caught out in freezing weather and there is a field of corn still standing do you know what to do?
It appears easily available (900-rnds for $399) in my shopping cart:
http://www.ammoman.com/p/387/556mm-55-grain-fmj-xm193-af
Metals are being manipulated by good old JPM.
...trying to keep up the ruse.
Gold and Silver are inflation hedges, and should be part of any well balanced portfolio of investments, just as food and ammo(assuming you are one of those bitter clingers) are part of your preparations to maximize your money.
For example, I liquidated half of my stock holdings in 2007 and After the market crash in 2008 I was able to buy in at a lower price. When the jump in prices for gasoline started, I immediately went out and bought 6-12 months of food we eat on a regular basis. Set out a garden and learned to dehydrate and can my own foods, which has allowed me to keep my food budget neutral, and still add to the stock of food when there are good sales.
One example: peanut butter (grand daughter loves it-good source of shelf stable protein) Stockpiled 2 years at $1.00 per jar, now costs $2.25 per jar. Pretty steep inflation.
I experienced the oil shocks during Nixon & Carter, so I knew real inflation would be hitting the Grocery stores pretty quickly. Once you have the items you need( and use all the time) stock piled, then precious metals make sense.
At some point, your real estate taxes will also reflect the devalued dollar. Gold or silver can be cashed in to pay those taxes if you don't have enough fiat money. If you have a fixed rate mortgage, fiat dollars can be used to make your house payment, unless your contract contains some provision for adjustment.
Precious Metals market is said to be subject to manipulation, but pay no attention, unless it is getting close to your purchase price. It is just a hedge against fiat money becoming worthless, or at least greatly devalued.
It is not a question of either silver or food, or ammo etc. It is about prioritizing what you as an individual need the most to get through the next 3-5 years at a minimum, and it should include water, food, shelter, and security(financial and personal-guns ammo etc.). All things that any balanced portfolio needs.
So stocks, precious metals, guns, ammo, toilet paper, food, real estate, water sources, etc are all part of the portfolio, with the stock market at this level, it would be a good idea to take at least some of those chips off the table especially in light of tax policy. Same for precious metals, if you are overweighted take some profit now while taxes are lower, if you think you can buy back at reasonable prices after 30 days.JMHO.
Different things have value to different people.
Any ammo, not just .22, has value, if not for your own piece, it can be bartered.
Your cigarettes would have zero value to me except as a barter item. Cum to think of it, my Army ration card cigarettes were "bartered" for something I valued at that time.
I question alcohol as a barter item. It's so easy to make it won't be scarce.
If it is so valuable why don’t they keep it?
because they buy and sell and profit from the vig
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.