I've been saying it since 2001, BUY 1oz GOLD Eagles NOW! Read....
Cash out of 401ks, IRAS, private brokerage accounts, stocks, bonds, mutuals, whole life insurance polices, etc.. anything USD$ denominated... It is collapsing right now, as we speak... Once it hits a threshhold of collapse, it will exponentially go down and it will be too late to act...
The REAL inflation rate is ~11%, the unemployment rate is ~12%, the M3 money creation # is around 15% YOY, Americans savings rate is -1% or so, DOW JONES fair value is around 3500, not 13,500, the USD$ has went down ~60% against the Euro since 1999, unfunded liabilities per US family is around $440,000.... it's all coming down.. etc etc etc etc....
Telegraph UK - Crisis may make 1929 look a 'walk in the park...
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/...
also, read these sites daily:
www.kitco.com
www.321gold.com
www.dollarcollapse.com
www.cafrman.com (proves that all local, county, state, and federal levels of government have excess surplus revenue from taxes, etc. every month, of every quarter, of every year, in aggregate 60+ TRILLION since 1946 or so)
www.shadowstats.com (to get the REAL government stat #'s from a PhD economists who diggs out the truth)
get informed, and plan ahead in case RON PAUL doesnt get in.
anyone who wants to converse about this or has questions, email me at - informantc@yahoo.com
central banks
Central banks are still dumping hundreds of tons of gold a month, capping the price. Before the price rise in gold is done, the central banks will be buying it back. It will go much higher than most people would believe possible right now, at least 5000 an ounce. Be prepared for some huge price swings though, like it did in the 70s.
Read Crash Proof by Peter Schiff
If you want to have a real understanding of what is going on with the US economy right now, as as well as understanding why gold and other precious metals are still an excellent investment, I'd highly suggest picking up Peter Shiff's book 'Crash Proof: How to Profit From the Coming Economic Collapse'. Peter Schiff is the President of Euro Pacific Capital, and is often brought in as the "voice of opposition" on many financial news segments due to his bearish views on the dollar and the US economy. Unless some serious changes are made, we are headed for a hard crash that could well take decades to recover from.
Did I also mention he's endorsed Ron Paul for President?
Gold
First remember the US government issues t- bills not in the best interest of the purchaser, these t-bills are designed to depreciate in real purchasing power Secondly.notice the USD index continues to drop to new lower levels, a clear sign the rest of the world does not want the USD.
Thirdly, as people take physical possession of gold and more legitamate means of investing in gold are developed, the true function of gold will take effect.
Great hedge, but...
.
Call me pessimistic, but I can imagine the Bush/Cheney empire banning gold the way FDR did, even if in coin or other specie. They will trot out National Defense as a reason. No reason and I hope I am wrong.
Banning Gold
As the rest of the world demands real value for their goods, our government will be forced to reconsider the role of gold in stabilizing the USD. Personally I think the USD is dead and the ability of our government to confiscate the gold of its citizens is nonexistent. I also believe that the US population is not going to be compliant to any government dictate to confiscate its' gold. Would you turn in your gold to the US government?
Goldmoney
I just wanted to point out that a highly respected online 'e-gold' company Gold Money (goldmoney.com) plans to offer a precious metals IRA plan coming in 2008.
More info: http://goldismoney.info/forums/showthread.php?t=215653
Also do a little research. Goldmoney is a much better than buying GLD, SLV, IAU or something like that. Right now they are having some problems taking electronic checks from U.S. customers but hopefully they clear that up soon.
goldmoney is bad
GoldMoney is basically a U.S. bank, they are located in the U.S., follow all the rules and regulations so they require sensitive info when you open an account, and probably would disclose all your personal info and transaction records to federal authorities without hesitation. If you want a good digital gold currency I recommend Pecunix, completely offshore and extremely secure.
I think I read
on a post here that the dollar will rebound in 2008.
G_d bless
Attend a Church of your choice this Saturday
Gold, Silver etc....along with petroleum are munipulated !!!
Look...you will not be protected by investments in munipulated commodities. I was a gold miner in the 80's and watched the markets rise and fall around metals. Folks were being directed into these investments then too...only to watch their $800 gold fall to $250 and stay there for 20 years ! How many of you folks could bear this now ?
Corrupt markets are no shelter...and once folks are heavily invested in these false investments...they will drop them again....WHY ?
Because they ( major banking interests ) make $ "breathing" the market,
not perpetuating the continous rise of a commodity. Oil prices, as with metals...rises and fall in cycles based on fales market infomation.
Some believe in the "peak oil falsity"...therefore they invest in alternative energy techology ( solar, wind, hydrogen etc. ) but before the new tech. can be mastered and TRULY provide competition to the market, oil prices fall again and wipe out the incentive to continue the research/development.
*** There is NO shortage of petroleum reserves...in fact mapping of present reserves ( not counting what will be discovered in the future ) shows that we have sufficent supplied to last for 1000+ YEARS including forecasted increases in useage !!!
So friends...as presious metal prices are directly linked to this FALSE market ... they too will rise and fall without validity. Therefore one MUST realize that these investments are speculative at best.
Now if one takes into account other factors such as TAXES and possible CONFISCATION...then the security & benefit is questionable.
I was fortunite enough to see this in the late 80's and divested of these commodities into real estate here in Costa Rica. Not to toot by own wistle or anything but I have done VERY well indeed. In fact as the real estate bubble looses air back in the states...our real estate market soars higher !
Costa Rica has an extremely free marketplace and is strong on personal freedom, tolorance and peace.
*** No Military = No Enemies...and that equals NO terrorists ( real or imagined ) so we are not Ying / Yanged with threats or hype...nor are we pouring $$$ into a military or military police state.
Just to set the record straight...I came to CR 23 years ago with two young children and less then $15.000 in cash and a $312 p/mo. VA disability pension.
I am an obsessed Dr. Ron Paul supporter and have given of myself both financially and in time...and I NEVER mis an opportunity to promote him to my clients ( I assist folks who wish to retire, relocate or invest here ) his values and platform.
God Bless this noble gentleman...lets bring him to the presidency.
MERRY CHRISTMAS & HAPPY NEW YEARS
Discover Costa Rica
Taxes?
You have to pay taxes on physical gold that you have if it increases value? Or just if you buy stocks in gold?
PAying taxes on gains on physically held bullion..
only if you want to... it's like saying you should pay taxes on your
twice yearly yard sale gains... There is no record of who owns what physical bullion, unless you buy $10,000 lots at a time, so there is no reporting necessary...
Only if you sell
You don't have to pay taxes until you sell the gold for a gain, so you don't have to worry if you are just storing it.
You can open an account at the Perth Mint
in Australia and hold your physical gold and silver there. If you decide at some point you want physical metal, they can arrange worldwide transfers. I have dealt with them for the best part of a decade and they are very good. Google "Perth Mint".
The Mint is run by the state of Western Australia, not the Australian federal government. If you know anything about Australia, you know the people in the western part of this country are very proud and independent-minded and don't take any cr*p from the "Feds" (this is a good thing).
Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Gold on Ebay
I by gold on Ebay, through PayPal (Only), it's insured this way. Also, there is no tracking, no 1099, no taxes on the increase.
If you've got an extra 20 bucks, buy a silver coin, an extra 850, buy a gold coin. Buy a silver coin at least once a week. PayPal only.
I woke up at 650/oz., 9 bucks for silver....just a few months ago.
Deb
No tracking... are you
No tracking... are you serious? Your digital signature is all over that, right down to your bank account or credit card info.
Just like buying ammunition; pay cash and in person.
about the cafrman.com link
I perused that site you posted for a few minutes, and the implication is that our government ie members of Congress, et al., KNOW about these "budget surpluses".
What I am wondering is how this fits in with what Ron Paul has talked about (along with others) & written over the years... about our budget crisis, about the deficit, overspending, the S.S. fund being looted, borrowing from China billions every week etc.
Find out how "entangling alliances" interfered with the rights, and honor, of these U.S. Navy sailors from the USS Liberty www.ussliberty.org
The best question I've seen on DailyPaul ever...
Good question Tranquil Horizons...
Everyone gets a copy of the CAFR report, every year, in high level government, media, universities, libraries, etc etc etc...
but I don't think the majority know about the reality of it... The CAFR reports of the last few year especially have been further muddled with complex minutae and date to obscure the facts, since Walter Burien and CAFRMAN and Alex Jones came out with this info a few years back...
To be honest, I don't think the honest of the politicans (Ron Paul) know about it... as hard to believe as it may seem, I think they are in a way, somewhat naive to a few certain things like this... The pigs at the trough (most politicians and Congress and high up executive and judiciary for sure) are in the know I am quite sure... Remember, Ron Paul sits alone and stands alone... And I would have to admit this is rather rare knowledge to have for anyone in America....
So take it for what you will... but I know the CAFRMAN reporting and Walter Buriens expose on it is true and factual, and that the scam is for real...
If you do this...
...watch your tax hit!!!!!!! I'm serious here. I just took a tax class (almost failed the darn thing because it so confusing! I'm a straight A student to boot!) ...and if you don't know what you are doing you are going to get SMACKED! with a huge tax bill. Go pick up the IRS publication and check it out before you go draining your IRA's, 401k's, etc.
Ron Paul isn't president yet and we still have our taxes to worry about.
By the way, I burned the freakn' tax textbook or I'd post the implications of doing this. Sorry. ;)
Realitstically and unfortunately so, I would tell peolpe
to expect 30-50% total loss (penalty + tax hit on capital gains) when cashing out... but it;s far better you have it and hold it and covert it to cash and gold/silver, paying off debts, etc etc.. than to bet on a bleak future potential that it will even still all be there or even worth the paper its printed on.... I would bet on the immediate loss but have about 1/2 left, than possibly 90-100% loss when the USD $ collapses...
Palladium?
What about palladium? Noone ever speaks of purchasing palladium bullion.
Good if you're very-rich, or to diversify slightly, but
Pd and Pt look a lot like silver to the naked eye, and they're not nearly as widely traded as gold and silver. I'm not saying they're a bad thing, but they're not what to buy first. SILVER (look at the last spike's history in 1980 or so) is the thing to get now. Buy "junk" silver US dimes. You will not regret it IMO.
Russia controls much of the Pd trade, and prices are currently far from their peak despite palladium's relative rarity. In fact, I once saw a beautiful 100oz palladium bar which still had the old USSR-era hammer & sickle stamped on it. :) Cool lookin' bar, but not something I'd want to buy.
JMR
own gold IN your IRA's, don't cash out!
you can own gold American Eagle 1 oz coins in all your IRA's, SEP, Rollovers etc. Check with your broker and don't let him/her talk you out of it with scare tactics like "high fees" and buying it at retail but having to sell at wholesale prices if you want or need to get out. Also did not let my broker talk me into gold tracking stock, ticker symbol GLD, I demanded the real thing. Only thing that can happen now is that the bank holding it, Statestreet runs off with the gold or the US Government confiscates it. In which case we're all screwed anyway.
Dr. Mike Vasovski
South Carolina Campaign Chairman, Ron Paul 2012
2010 Candidate, US Congress SC-03
Just the thing that happened
Just the thing that happened with Liberty dollar?
Buy T Bills not Gold
The economy is going down and when things get bad there will be no money to buy Gold or Silver but the Government will print enough to honor their obligations. T Bills are best while we head for a deep depression which will be world wide.
Just a Thought
you want it small and transferable. And you don't want it to be confiscated.
anglofareast.com
Keep in mind that even if
Keep in mind that even if Ron Paul gets elected, the financial perfect storm is already on the horizon and his Presidency would be a positive move in the right direction, but it would not stop the meltdown from happening.
Would Ron Paul dismantle the Federal Reserve right away? No. The Fed is the reason we have monetary inflation at +15% this year. Even if Dr Paul is elected, I don't think Bernake will simply turn off the monetary spikut and stop dumping worthless dollars onto the market.
Dr Paul would have zero control over the foreign central banks. Many are "printing" money at ~10% (Eurozone) to over 40% (Russia.) This inflation is causing golds price in paper currencies to rise.
Someone mentioned that we will experience a deflationary period. This is a possibility and is hotly debated. However, Ben Bernanke, in his Doctoral Thesis blamed the Depression on deflation (not the rapid inflation that preceded it) and said he would inflate his way out of a similar situation. This is why we are seeing the unprecedented M3 numbers today.
Gold confiscation - Back in the 30s, normal everyday Americans used gold in their day to day transactions alongside dollars. The USD was redeemable at 1/20th an ounce. Almost everyone had gold. These days, almost NOONE has gold. Maybe 1/10th of 1% of Americans have some bullion. Are we to believe that the governement, using its limited resources, is going to find those .01% of Americans and confiscate the gold? I'm not so sure.
On types of gold to buy... You want to buy the bullion that has the lowest premiums. The premium is the amount of dollars above the spot price a coin costs. An eagle might cost $850. (I haven't checked recently.) If the spot price is $800, the premium is $50. Eagles have very high premiums. Krugerrands, bars and other forms of gold bullion carry smaller premiums. Keep this in mind when looking for your best price.
Gold in IRA. Yes you can place gold in your IRA. www.apmex.com has information.
However, I would be more worried about the government raiding IRAs, pension funds and 401(k)s than I am worried about them coming after a few gold coins laying around the house. (or buried in the back yard! haha)
Good luck everyone. Don't panic. Be smart. Realize that even gold ownership carries risks. Even though things look to be happing a certain way, beware of a "Black Swan." (Bernanke suddenly raises rates, etc...)
To me the premium on a Gold Eagle
is small insurance when you want to sell it. In an emergency you want gold that is instantly recognizable -- in the US it's the Eagle. A Chinese or Austrian coin might have a lesser premium but -- if I had two people standing in front of me wanting to trade their gold for my goods, I'd take the Eagle first over anything else. Just my .02 cents.
Ron Paul "Sign Wave Across the USA" -- November 5th!
Excellent point !
bump
Good point
A good post and good points. Also, when you buy gold please keep it to your self and do not tell anyone! Hide it good or secure it good at your house! Your hiding or secure place should be unknown and secret to yourself and maybe a loved one. You would be suprised at how many people own bullion. They just don't talk about it (which is smart). Don't brag about it and dont tell friends about it, lest you find yourself a victim of a burglary! A mounted safe (bolted to a concrete foundation) is a good idea. Make sure you buy a 2 hour fire resistant safe and a burglar proof safe as well. Electronic locks are more secure than combinations. Spend a little extra and get a high quality safe, not some cheap safe from Walmart.
Yes
Yes you are right. I have already cashed my main 401k and have a smaller other one I cash next year. The dollar has lost around 8% this year alone. Anyone holding paper assets should convert them to gold and silver bullion and take physical possession. Do not leave your gold in a safe deposit box, it can be seized, locked out, etc...Keep a small amount of cash on hand but not in the bank. I won't go into the case for gold here but click on the Swiss America Banner on the dailypaul.com homepage and read for yourself. People, buy gold and silver bullion now and secure it in a safe in your own house! In the future you may not be able to buy the bullion because of scarce supply and waiting lists. Be ahead of the mass public and get it now before there is a rush. I know 800/oz sounds expensive but its going to $1000/oz and maybe more very soon! Don't delay your paper dollars are losing money. Congress just approved 555 billion spending budget, the fed it lowering rates and printing more money out of thin air! This will only debase the dollar further! Let it be known it was said now before the rush/panic!