BUY GOLD AND SILVER!
Posted February 9th, 2008 by akak
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People, if you want to preserve ANY of your savings, it is imperative that you buy gold and silver ASAP! For your own sakes, please look into this now!
All the most fervent trolls on the Daily Paul have been frantically trying to dissuade anyone from buying gold and silver. That, by itself, is a good reason, and a warning sign. I will try to post links for those unfamiliar with buying gold and silver, but seriously, everyone should buy and hold as much precious metals as they can (and NOT in a "safe" deposit box), before the final collapse of the dollar. Don't let yourselves be caught too late, as the Argentinians were in 2001!
Gold and silver have been the money of freedom for over 2500 years, despite all the propaganda of establishment economists and politicians. The more they tell you to ignore precious metals, the more you should be buying them! When the dollar collapses, all your stocks, bonds, CD's, and IRA's will be severely devalued or worthless. Only by PHYSICALLY holding gold and silver can you protect yourself. Buy them today!
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Buying Gold And Silver
Glad to see the tremendous interest in precious metals here at DP in the last two months. Many great post. I placed many post on precious metals here during the summer. Now I am suggesting that those of you looking to buy and still learning the price structure contact the following groups:
N.G.C. in Sarasota Fl.
P.C.G.S. in California
A.N.A. in Colorado
Coin World in Indiana
All these entities will be able to provide you with dealers to buy and sell to and give you information about the typical price structure used nationwide for the different precious metals. I just got a 200+ page book from Coin World listing both by state and then by company name all the hundreds of potential dealers you could chose to do business with. A wonderful book to own.
If you have any questions let me know. Good luck.
REAL MONEY - not some pppp
Pretty Printed Pieces of Paper is what I have been accumulating for some time. Sure, there are market fluctuations and for the most part, they occur just to "shake out" the short sighted. The person that has a longterm grasp on our economy will be buying like I am. I can't afford a whole bunch at once, but I can buy a few dollars (lately concentrating on 90% silver pre 64 coins) each month. I also add to my long term food storage every so often. If you get a little each month, it soon adds up to a considerable cache. Buy and hold - the only way to go.
Actually and ironically,
Actually and ironically, even our own US money is not really "paper" as it is usually defined, but is cloth ---- it is made entirely from recycled cotton and linen material, not wood pulp. So really, our money is literally rags!
In Australia we have
Pretty Printed Pieces of Plastic.
Yes, our notes are plastic. We can't even burn them for warmth.
Good thing is, if you leave $20 in your jeans pocket, the bill comes out of the wash just like it went in.
Amazing fiat currency technology.
___________
Lisa C.
www.women4ronpaul.com
I like you akak.
___________
Lisa C.
www.women4ronpaul.com
I bought gold at $440 an
I bought gold at $440 an ounce, silver at $7.80 an ounce. I am very, very glad that I did.
Yeah all the kooks bought gold and silver cheap
They snapped up gold and silver for peanuts in the late 90's and now they're selling off a fraction of their hoards tax-free.
Right akak. Finally one who doesn't think like the herd
BUY BUY BUY
Be greedy when people are afraid and afraid when people are greedy.
"PunJab! Bring me my checkbook!"
Hi DWB
I think like the hoard.
"Walls are stronger than the men that defend them."
Khan
My sentiments exactly
My sentiments exactly Daddy... It's buy time - big time! Right NOW.
Gold is a diagmagnetic (it levitates) and vibrates at 1,000 Hz
It is the perfect substance to free an individual from being a slave with an over-unity device. It should be 1,000,000 per ounce.
"Walls are stronger than the men that defend them."
Khan
Warning sign
When average joes and housewives start buying gold, then you know the top of the market is being put in. This is how markets work. The smart money who have made the capital gain by buying early have to hype the average joe up to buy so that they can have someone to sell to to take their profit. The average joes and housewives who were manipulated to believe that gold is going to the moon are left holding the bag of gold as the price goes down. The smart money walks away richer. The average joe walks away poorer. Welcome to capitalism. Caveat emptor. The ideal time to buy gold is when people think gold doesn't matter anymore.
You are fighting the last war
The smart money sells to Joe SixPak for what...FRNs? Think Volker is going to come in and raise interest rates and save the day like he did before? Well, maybe....and maybe not. All fiat money eventually goes to zero. The FRN just may not be coming back this time.
I'm a housewife and I bought gold
at $370 and silver at $4.50 -- your methodology seems to be flawed. This economic "correction" we are heading into will last many years -- beyond the time Joe and Mrs. Housewife have bought a few coins.
___________
Lisa C.
www.women4ronpaul.com
and hardly anyone is buying
and hardly anyone is buying at this time.. if I talked to all my neighbors on my block.. I bet not 1 has bought any! its the banks, the major big countries like russian and china who are doing ALL the buying right now!
just wait till 1 billion tries to find its way into the silver market.. silver is already in shortage.. 1 billion is nothing compared to the trillions of dollars floating around in the world!
as for me and my home, we shall worship the LORD
Warnings Signs
Nothing about the fundamentals has changed in the last few weeks, despite the drop in gold. Anyone here who things stocks, precious metals, or home prices are supposed to follow a straight line upward after they buy in needs to take a longer view. It will serve you well.
I see two factors:
1. We are dealing with a government now willing to lease gold in order that it be sold on the market, driving down the price.
2. China and others have new access to gold through exchange traded funds. The week the Chinese ETF was launched was the same week gold trader over $1000 / ounce. Has the collective market tried to get these $1000 purchasers to sell at $900? Sure. But they're not buying it back so that the Chinese lose $100, but so that they get to sell it a later, higher price.
Why would the price be going higher? There is substantial uncertainty in the marketplace, from credit makets to corporate balance sheets, and radically new government intervention. Gold remains a safe haven, as it's the only asset class immune to intervention over the long-term.
Average joes and housewives are not anywhere close to buying gold, and if this were true they would all be paying many thousands, or tens of thousands, per ounce. I know no one, except one other household, who actually possesses physical gold. This "consensus is always wrong" thinking didn't mean that you sold your house, just because others around you bought?
I own gold, silver, foreign currencies (SFX - Swiss Franc mostly), and agricultural commodities. I will also be picking up some energy holdings like USO before oil spikes back over $110. I'm not planning on a price for my exit, but an event.
All of these asset classes are a bet that the purchasing power of the US dollar will go down. These have been on the winning side of this bet since 1914, and particularly since 2000.
Hey Boston
What is the best way for someone to purchase foreign currencies and agricultural commodites if they are new at it?
Why do you like the Swiss currency. I think it is good also, but would love to hear your thoughts.
Thanks!
There's a few options
There's a few options available without actually getting a commodity futures account, which is often more daunting than most people want to deal with. I should also say to do your own research, and see if you independently agree with any conclusions I've reached before investing.
In a regular stock brokerage account, the following exchange traded funds are available. These don't invest in companies that make commodities, but the underlying commodities (and futures / prices) themselves:
GLD - Gold. One share is 1/10th of an ounce of gold.
SLV - Silver
DBA - Tracks the price of wheat, soybeans, corn, and sugar
DBB - Tracks the price of base metals, like copper and aluminum
FXF - Swiss Francs
FXE - Euros
USO - Oil
Other agricultural ETF's are here:
http://seekingalpha.com/a...
Other currencies:
http://www.currencyshares...
I like the New Zealand and Singapore Dollars, but today these require a futures account to get a pure play directly, unless you go to Everbank. I have heard that Wisdom Tree is awaiting approval on ETF's for these. A brand new regular mutual fund coming out called the Merk Asian Currency Fund, will allow investors the opportunity to take advantage of currencies many here expect to gain the most in relative value to the US dollar over time, including the Chinese Yuan (the Renminbi), which is hard to buy otherwise. These are the same nations that have large current account surpluses with the United States, and are lending us the balance back. Eventually this must end, driving the dollar down further. This firm's other fund, the Merk Hard Currency Fund, has a solid following among those concerned about the dollar. In addition to gold, it holds currencies in nations with the least inflationary policies.
http://www.merkfund.com/f...
I do like the Swiss Franc. In "cash" holdings for my account, I sometimes convert blocks into Francs instead of sitting in US dollars, and then sell them before I invest. It's fine if commissions are very low, and it makes me feel like I'm not sitting in "safe" cash that seems to lose purchasing power value month after month. That's not for everybody, to be sure.
I think a lot of people think that there could be short-term intervention by the European Central Bank (ECB) and the US in order to start to lower the value of the Euro. Exports in places like Ireland and Germany have to be hurting. This is less likely to happen with Switzerland in my view, although I am no expert. The independence, steadiness, growth and low inflation in the nation is a big attraction to me. Our current government could take a few lessons out of their play book, despite the recent US subprime derivative exposure problems with one of their major banks, UBS.
More here (after the part about the Swiss stock market)
http://seekingalpha.com/a...
Google videos for Peter Schiff or Jim Rogers for more. Jonathan Hoenig at Capitalistpig also has FXF among his picks.
http://www.youtube.com/wa...
http://www.youtube.com/wa...
gold then - $925. gold now -$905
i lost $20 an ounce since this thread.
Big deal.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
big deal to ME!
now gold is at $885. that's down more than $100 an ounce from its peak.
where are the gold bugs now?
Buying the dip.
Buying the dip.
buy more lol .... gees
buy more lol .... gees look at the trend.. go read jsmineset.com.. gold will hit 2000.00 or more per ounce.. the federal reserve has gauranteed that by its stupid actions!
as for me and my home, we shall worship the LORD
I am right here
buying like crazy.....This is a blessing to keep buying. Silver below $17 Woooooooooooohoooooooo Keep it going lower....
If you don't understand this market.....and if you are in a panic to get out when it goes down....maybe you should get back into Fiat Dollars.... At least with Fiat Dollars, you know where you stand. And you know which way they are going.... HAHAHAHAHAHAHAHAHAHAHAA!
Citigroup is doing the same
Citigroup is doing the same business practices as Enron was doing.The ones with the precious metals will be the last ones standing.
Okay hold on MUST READ THIS!!
Gold and silver are not an investment. You need to learn and live by this page. Print it out and understand it!!
http://www.silverstrategi...
good read
I don't have alot of money saved, but I do have some silver and gold.
MY SAVINGS
IS STAYING RIGHT WHERE IT'S AT.....A MIXTURE OF STOCKS BONDS AND CASH.... I ALSO FIND ANTIQUES TO BE THE BEST OF INVESTIMENTS !
Wow
It has seems that you have not done your research. Tell me how this works out for you! Just don't knock on my door, or step foot on my property when SHTF!
Well, at least you have
Well, at least you have something real and solid with the antiques. As for the stocks and other dollar-denominated assets --- well, they will be antiques in their own way soon enough. Sorry, I wish that were not the case, because our society will suffer greatly by the collapse of the dollar, but it is as inevitable as McCain losing the election.
Palladium guys
check out it's properties and it's use in the coming clean energy bubble.
America leading by example.
alternate currency
You want an alternate currency? We already have one. Like RP says, just need to go back to the Constitution. Just get and use good ol pre-1965 silver coins. They have the lowest premiums, everybody trusts them, and I've doubled my money (actually I have the same wealth - everyone else has half as much) since going whole hog 3 years ago. As long as the FED keeps creating money to bail out every problem that arises, precious metals will just go up and up. Sooner or later, the public will catch on and they will be accepted in common trade. Even now, people are always interested when I pull out some real money and explain how you can still buy a gallon of gas for 3 dimes (current ratio is about 12:1) - just like always. As an investment (ok - speculation) there is very little downside and potentially tremendous upside if the public ever loses confidence in the Fed notes.
Thou shalt not have diverse weights in thy bag, a great and a small
(In other words - don't steal from others by using bad money)
Mercury Dollars
I've offered and used Liberty Dollars (those much derided NORFED rounds of silver) to my advantage and to the delight of merchants and cashiers from Hawaii to Ohio, but have not tried using pre-65 silver. I'm guessing that might entail a little extra work, as one is obliged to explain the mark-up over face value. The advantage of the Liberty Dollar was that they were already denominated in convenient and reasonable values.
Viva Agora!
Professor Bernardo de la Paz
www.citizenduquesne.org
Moved to cash account
About 6 months ago I moved my 401 to all cash, I do not have the option to move it to gold without serious tax consequence. If ( when ) things get bad enough that might be my only option. This is a great web site for gold and silver info.
http://www.cmi-gold-silve...
Plan options
Does your plan allow you to put part of the 401(k) into a gold sector mutual fund? This is an imperfect match for gold, there's no doubt about that, and I'm just saying that if you wanted such an option that some plans do have it.
Here is a graph of the Gold Bugs Index, gold itself (symbol GLD), and the Dow Jones:
http://moneycentral.msn.c...
Most gold mutual funds would probably track closer to the gold stock index than to gold itself. In a real market collapse, they may also fall.
And of course, there is also
And of course, there is also the corresponding fund for silver (SLV), which is analogous to the GLD fund.
Boy, I'm glad those disinfo agents pajeff and slapshot are finally gone --- it was really heated here a couple of hours ago! Wow, were they doing their best to denigrate gold and silver, and any interest in them! Makes you really realize the crazy, behind-the-scenes shit that is actually going on -- I had never seen anything like it on any blog!
Platinum fund
I really want a platinum ETF launched. I heard one was in the works, but haven't looked up why it hasn't opened. I think platinum closed north of $1900 today.
In the debate of ideas, those here or anywhere else who would deny thousands of years of interaction between man and gold are no more authentic than the real estate agents and mortgage brokers who did a lot of blowing of misinformation in the real estate bubble (with air supplied by the Fed), or the pundits everyone sees on TV every night talking about the "fundamentally sound economy."
To everyone watching the debate, the truth has a way of coming through. That's one of the reasons that the media doesn't even want the truth presented, and Ron Paul will never get much airtime. It's almost like the truth is dangerous, and we're supposed to keep up the myths many grew up on.
You are correct ---- the
You are correct ---- the establishment shills were clearly very threatened by all my talk about gold and silver yesterday on this thread.
Now if somebody starts talking to me about their financial investing/saving strategies involving stocks, bonds, and other dollar-denominated assets that I personally feel are very risky right now (if not headed for disaster), I would at the most just shrug and say "Good Luck". So why were pajeff2 and slapshot so heatedly trying to deny and cover-up all the talk about gold and silver here ---- and so ADAMANT about it? Just what was their stake in it all? Spreading disinformation, that's what!
careful
... terms can be confusing. It seems a lot of people think gold is an investment. It -can- be, but that's speculation, not a hedge against inflation. Gold can rise or fall during a depression. With the fed interfering, it just makes things even more confusing. It must be remembered that physical gold, in your hand, is a poor -investment-, but an excellent -hedge-, see? Sure, you can sell it when the price goes up, but then you have deflated currency backed by nothing. It defeats the whole purpose. Unless, of course you use that money to invest in additional things. You shouldn't buy gold to make money, but to protect what you have. You could buy gold and the price could go down. So? It's still valuable. That just means an opportunity to buy more gold at a "discount." Some might say thats foolish. I would say putting ALL your money in gold is foolish. But the dollar's days are numbered, so as it is, a portion of my investments will certainly be replaced with gold coins.
Save your brass, alluminum,
Save your brass, alluminum, and copper too. Cheap brass can be bought from salvation army and other thrift stores. I am not sure where to buy a smelter. If anyone knows let me know please.
Myself every time I encounter someone desperate enough to sell a $400 gold chain for $40 I offer them $30. Im saving them up, and I will eventually melt them down.
Why bother with Slapshot, let him go buy more stock and lose his
shirt, who cares? The smart people here know that gold and silver are by far a much better investment, sure beats those long lines at the banks when they all start to FAIL, and they WILL eventually! What are people going to do when they're entire retirement is invested in the stock market and it crashes, I've heard many reports predicting that we're in for much harder times than in 1929 when the stock market crashed last.
If Slapshot is so confident in the market, who cares? If people want to actually BELIEVE that, I feel really sorry for them, they've been warned!
Don't let this guy get under your skin, most people can recognize that what you are saying makes MUCH MORE sense than Slapshot's advice. "You can lead a horse to water, but you can't make him driink", but in this case I believe it would be an ASS!
We should be getting our tax refund next week and will be buying at least silver for the time being, my husband doesn't feel comfortable tying up that much money to buy gold at this point; he's almost 72, works part-time and we basically depend on Soc. Sec., and I'm disabled from a car accident, so I can't work anymore.
I'm interested in buying silver, but I want possession of it, not just invest in it. Where can I find information of the best places to purchase? What about the Liberty coins, I'm not sure because they've already been raided by the FBI and had their assets confinscated once. Has the FBI returned their gold and silver yet?
I was and am so annoyed and
I was and am so annoyed and concerned by him because his vehement postings on very particular (economic) subjects strongly lead me to believe that he is not just a run-of-the-mill troll looking for attention, but a real disinformation agent. I just HATE and can't abide the idea of our exchanges of freedom-oriented information being disrupted and corrupted by these slimebags!
I would look in the yellow
I would look in the yellow pages for your area, under "Gold" or "silver" or "precious metals" or "coins" --- I'm sure you probably have at least one dealer of one of the above that you could purchase from, unless you live in a very rural area. Otherwise, I do know that the webites 321Gold and Gold Price.com have links, or there is another site called Monex that you could look at to get an idea of what is available. I have never bought anything from any of those sites myself, but it's a place to start to get an idea.
Silver is often sold in one-ounce coins, the Canadian Maple Leaf and American Eagle the most common ones, which are one ounce of pure silver. You will pay a premium over the spot (market) price for each coin, though, maybe $1.25 to $1.75 over the spot price of silver on that day for each coin ---- you would recover roughly half of that premium upon selling the coin, however. Silver bars are also available, mostly in one-ounce and 100-ounce sizes, with less of a premium on both buying and selling. A third alternative is the old, pre-1965 US silver coins (dimes, quarters and half-dollars), which are sold just based on their silver content; these tend to have the lowest premium of the three options.
Gold and Silver will not
Gold and Silver will not lose its value. The reason being...It cannot be CREATED. My president Ron Paul taught me that.
AMATEUR
You shouldn't be giving financial advice to people unless you have some kind of credentials...Someone told people last Sunday night to sell all their stock because the market was crashing the next day and they did..the crash never happened ! The dollar will not totally collapse as you suggest ! In fact it will rebound shortly !
Yeah, sure, as the AMERO!
Brought to you as part of the North American Union compliments of George W. Bush, his gift to us is to give up our soveignty! I can't understand how he could get a huge project like this accomplished without the permission or authority from Congress. Was anyone here asked if we wanted to give up our sovereign nation? That is why they've ignored the Mexican border problem for so long, they don't CARE how many illegals come, because by 2010, it won't matter!, the SPP by CFR, and the CRIMINALS IN CONGRESS that haven't done anything to stop it, because they belong to the same CFR club!
I PRAY for a Brokered convention so Romney's and Huckabee's delegates can vote for RP! Also, won't it be FATASTICALLY AWESOME to watch a RON PAUL/ Hillary Clinton debate? He will TEAR HER UP, and that's one of the things CFR is most afraid of, that's why the media has been given strict instructions to black out RP completely!
As times get leaner and we're feeling squeezed tighter, more and more people will being to hear and LISTEN to RP's message! Keep the REVOLUTION ALIVE, IT AIN'T OVER YET!
Patriot,
Patriot,
See my post below to John.
Every time the Fed decreases
Every time the Fed decreases interest rates, borrows money or prints more they cause the purchasing power of the dollar to decline.
The only thing that will make the dollar rebound is deflation and I do not see any indicators that we will have anything other than inflation for quite some time.
Upon what facts are you backing your claim that the dollar will rebound?
I think we might see a temporary lift in the economy as well as the housing market, but they will be very short lived. All the puppetmasters are doing is delaying the crash and making it much worse.
John,
John,
Pajeff is a disinformation agent, and always does his best to parrot the establishment line and talk down gold --- same with "slapshot". Be aware of them --- they are highly irritating and lying sacks of shit.
BTW, Pajeff you scumbag, I did NOT give out any advice, if you can read. But that doesn't matter to a disinformation agent such as yourself --- just antagonize, deflect from the real topic, and lie, lie, lie.
Opinion
Two questions:
1. In the event of a severe dollar crash that would lead to its replacement with the Amero, how do you think 401k accounts would fare if they were invested in stocks, bonds, or money market?
2. How many of you are planning to or have already cashed out your 401k, in spite of the tax penalties, to invest in gold?