GOLD & SILVER INVESTMENTS
Posted February 26th, 2008 by SCHU1975
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I want to invest into gold and or sliver , buy it or invest into ira or 401k ,something . Anybody with some helpful feedback would be great . Gold went up over 30% from last year , from about $650 an oz to now at about $950 an oz . Anybody ?
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Peaked again at $18.80 today
A good investment are pre-1965 coins, it's mostly silver (71.5 oz per $100 face value bag) and could come in handy as a medium of exchange if our almighty currency finally evaporates into toilet paper.
And I wouldn't buy & hold as an investment, but rather as a safeguard, among other things already mentioned ad infinitum on this forum and others.
I recommend goldmoney.com
You own title to the gold. It is stored in a vault in London or Zurich, your chice.
You can sell at anytime at spot rate and wire proceeds to a bank account of your choice.
I hate to promote another
I hate to promote another forum. but...
RonPaulForums has an area specifically for economics and finance. Gold and Silver is talked about regularly there and lots of your questions have already been answered..
http://www.ronpaulforums....
Good call.
I pretty much go there for the economics section as well... since I can't seem to get Mike to start an economics forum section here.. ;(
Hey
What does any of this have to do with getting Ron Paul elected? lol
I referred someone to ronpaulforums for 2nd amendment and gun purchase info, but forgot to apologize first...my bad!
LOL
Right?
Ah well.. it's a big internet.... and I like it here at DP, just wish the mission statement could be fleshed out a little bit so that we can talk about reality sometimes.
After all, I'd hate the average RP supporter to come off like an Obama supporter... clueless about real issues.. ;)
Good work!
I kind of like it here too.
I'm sure it is good to own some
but it won't do much good if we are sitting in a detention camp. Donate to candidates like Ron Paul and those he endorses. If they win then it will be the best investment your ever made. Also, run for office in your local communities or school board. Get involved, educate and organize it will be time well spent. Gold, Silver, Food, Ammo it doesn't matter.
Gold and silver bullion coins
Bullion coins are the easiest way to own gold and silver. You can hold American gold and silver eagles in your IRA.
USSA Today
Careful
.
It seems great - buying gold or silver coins, or other forms of the metals. But bear in mind there could well be a reclamation, such as FDR instituted in 1933. This would require everyone who was holding in precious metals to turn them in for script (which is worthless). There is a precedent for this. Sorry.
There is an Australian outfit that, apparently, is pretty good. I think Michael Nystrom has a blog about it somewhere around here. Australian government reserves. You buy gold-backed certificates.
More info here: http://europac.net/
Another possibility is to buy other currencies that are more stable. At the moment, the Euro and the Yen are fairly strong, as is the Swiss Franc.
Good luck to us all.
.
Only a fool would turn them in
Back in the last confiscation, they didn't go to homes to forcibly remove the gold. The government expected the people to turn in their gold. Some did, some did not. Silver has never been confiscated in the U.S. that I know of.
Now, I'm not saying that if there is another confiscation, that they won't show up on people's doorsteps with an assault team and a metal detector. If faced with this situation, I would do all I can to defend my property; but that is something each person needs to decide for themselves.
Around 20%
From what I've read, about 20% of the people that were holding gold actually turned it in. Only my opinion, but I don't think they have the numbers or the balls to conduct door to door confiscation. If they come for our gold and silver and we're still armed, it will get ugly for them. If they try to disarm us first, it's going to get ugly for them. If either scenario should occur, it will be time to commit. Anybody remember the Clash? "When they kick at your front door, how you gonna come, with your hands on your head or on the trigger of your gun? When the law breaks in, how you gonna go, shot down on the pavement, or waiting in death row?" Tyranny is timeless.
Best place to buy Swiss Francs?
IT IS NOT A WASTED VOTE!
You can buy a Swiss franc ETF
If you don't need to take physical possession of the money, have your broker buy you some CurrencyShares Swiss Franc Trust (FXF). This is an Exchange Traded Fund which simply buys Swiss Francs and holds them in a vault. Advantages: 1. Probably the best exchage rates you'll find. 2. You don't need to worry about burglars stealing your stash of francs. 3. If you decide to move abroad at some point, you won't need to carry physical cash over a border and risk confiscation and/or arrest. Disadvantages: 1. If you trade your francs back to dollars someday, any gain you make on the transaction will be taxable (and reported to the IRS with your broker's 1099). 2. If your broker goes belly up, you will have a long wait to reclaim your shares. You could take physical delivery of the ETFshares, I suppose, but that's a hassle too, and then you have the problem of storing THEM safely. 3. Every time you sell shares, you pay the broker a commission, maybe $10. That's not so bad, when you compare it with the banks' exchange rates.
I don't trust my broker's money market accounts (in which they park your inactive cash funds, so I keep virutally all my surpluses in FXF, GLD and SLV. (the Swiss franc, gold and silver ETFs.) When I need to buy something, I sell some of my ETF holdings.
Might as well go with pecunix
All the gold is stored in switzerland and it basically has all the positives you listed sans the negatives.
Swiss francs
I think you need to go through a currency broker. Many people in the know believe that as far as currencies go, the Swiss franc is probably the most stable and reliable. But if you're going to buy something to hold, gold is the best and silver is not a bad second choice. Buy it, hold it and be prepared to defend it just like you would any other personal property.
Something to consider
Although I have posted several entries on the matter, I feel it is time to give a small refresher course on what gold and silver are, and the pros and cons of holding each.
1. Gold is historically considered money. It was the original money that backed the currencies of Europe, and the United States until 1971.
2. Gold and silver are not get rich quick schemes, and should not be viewed as such. Gold and silver serve as a way to protect your savings (wealth) from the currency manipulations, nothing more. An ounce of gold at $900.00 will still buy the same amount of goods in the economy that it will at $300.00.
3. When you buy gold and silver, you should keep it on hand. Never let anyone keep your gold and silver for you. Do not invest in etfs or other derivative vehicles--known by some as paper gold--this is your money. Keep it with you, keep it safe, and never tell anyone about it.
4. Gold can be seen as concentrated wealth. Internationally, it is easily and quickly exchanged. With a silver/gold price ratio around 50:1; you would need 50 ounces of silver to equal one ounce of gold. This is alot of physical silver. If you feel you may need to leave the country at some point, buy mostly gold. If you feel that you are going to stay in one place, buy mostly silver.
5. Gold and silver can be bought at local coin stores. When purchasing, consider buying U.S. American Eagles and Canadian Maple Leafs. They are internationally recognized coins with a known, stated purity. For a discount, ask your supplier if they have scratched coins. Remember, you are buying the gold and the silver in the coins, not the coins themselves.
6. Gold resources on the web.
www.kitco.com Precious metals price updates. Also has a store.
www.gata.org Organization engaged in a long war to keep the banks from manipulating the price of gold.
www.dailyreckoning.com An essay site by Austrian economists. Updated daily.
7. To learn more about currency and credit, and how our "modern" banking industry manipulates both. Find the movies "money as debt" and "the money masters" online. I recently purchased the "money masters" video. It came with full documentation--something very useful. I think google video or you tube has them both.
silver has gone up 66 cents
silver has gone up 66 cents today already.
It is at $18.66/oz.
I bought in when it was $17.10/oz a couple weeks ago. I have already made any premium I paid back on it.
Man am I glad I made the decision for silver. :)
What really happened
Silver didn't go up, your frn paycheck went down. So even the people who own significant amounts of gold and silver are losing money because the government forces us to use their monopoly money.
Dunno about that...
I bought 26 ounces of gold in 2004 at 340 an ounce.. riddle me how I lost money on that deal....
I believe
the theory is that the increase in the price of gold in $US is due to the loss of value of the dollar. Therefore in 2004 $340 buys you an ounce of gold. Now you need $950 to buy an ounce. Not because the value of gold increased but because the value of the dollar decreased. I think the reasoning behind this theory is that the price of gold has not changed as drastically against other currencies.
I agree with that
utterly. However, short-term I can make a profit on it, as long as the dollar is actually worth something. As in I can cash out now and make a profit, reguardless of the drop in dollar value between 2004 and now.
Notice I said short term... lol
Long term, if the dollar tanks (I'm pretty sure we are headed that direction) then I've transported wealth over the collapse of the dollar to whatever we're going to be using (probably the Amero.. ick)
The dollar drops an average of like 2 cents a week now... silver is climbing quicker than that. So short-term, you can make a profit on it, as long as you convert back to fiat dollars before the dollar is worth nothing. Long-term, the same applies as a vehicle to transport wealth.
So while I see what is being said about the dollar going down in value, silver is currently rising faster than the dollar is sinking.
Is Silver The Answer...
Is Inflation Robbing You?
Check This Out:
http://www.richdad.com/Ri...
Then this:
Many individuals have posed the question to me... How do you protect yourself against inflation?
As a response I would like to share the following:
I have been purchasing (1) ounce silver eagle dollars with my fiat money... Two (2) per month... As a retiree living on SSN that is all I can afford...
Recently I have come across this company http://cegsilver.com from which I am now making my purchases... If you feel comfortable with this program feel free to participate... If not, do as you wish... Yes I benefit from this post as most of you will if you take advantage of the program... However, I felt confident that many of you will welcome this information... Thanks... And have a great day...
I have a question, too...
I keep hearing to "buy gold buy gold BUY GOLD"...then, often in the same thread, I hear people saying that martial law will be imposed, Canadian soldiers and Blackwater mercenaries are going to break down your doors, take your food and guns, and haul you away to FEMA camps to work off your debt.....
But they'll let you keep your gold?
My strategy
I have a mortgage and I also own a relatively small amount of gold and silver and a few firearms. If the economy and dollar collapse to the point where I can't pay the mortgage, I will sell the house. If I can't sell the house, the mortgage company will probably foreclose. They get the house, I take my personal property (including the very portable gold, silver and guns) with me. If the government sends me a notice that I have to surrender my gold, I'll tell them that they are too late because somebody else already broke into my home and stole it. If the government sends me a notice that I have to surrender my firearms, I will tell them that I was duck hunting and the boat tipped over and the shotgun is at the bottom of the lake. My other guns were stolen by the same people that stole my gold while I was out duck hunting. I will not feel guilty about lying to them. If the government comes to my home to confiscate my personal property, I will decide at that time whether I want to be on the planet anymore and act accordingly. LOL, but I'm serious.
Yep
they can have it...if they can find it when I bury that shit in the backyard by a stump that is 94.5 paces to the north north east of your back door....
go to jsmineset.com jim
go to jsmineset.com jim sinclair is the best at economics ans the gold/silver market. buy physical coins and TAKE DELIVERY.. do not buy them in a 401k.. if you can't touch it YOU DON'T OWN IT.. 90% silver US coins before 1964 are your best bet! silver currently at 18.44 per oz.!
where do you buy swiss francs? that is what Jim Sinclair says
to buy