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help me with this- gold and silver

J

jose bagge

Well-known Member
My son turned me on to ALex Jones radio show- sometimes seems like a nut, but he's starting to make me paranoid now too. Anyway, rant was about getting out of paper moeny and into gold and silver..."no one's gonna take your paper money when the stuff goes down". Now as farmers- when the stuff goes down, will you take gold/ silver? Can't eat it, can't drink it...when paper is worthless, will gold be any better? How do you trade it? sell a steer, break out the scale and measure out some dust? Converting it how- it's $1800/ ounce now? Forget gold and silver- we won't be protecting our property from zombies or vampires- I'm putting my money in lead and livestock.
 
Well the gold and silver they talk about on those advertisements is on paper anyway.So how will you cash it in?What would make a piece of paper claiming to be a gold stock,in a bankrupt nation, be any better than any other stock?Plus every time stocks go up,they come back down.They lure people in,then crash the market after several years.So if you buy a gold stock for 1500 dollars by next year it could be down to 500 dollars.
 
I can't help you, and have some of the same thoughts/fears.

HOWEVER, I refuse to put up with the TV RANTINGS of ANYONE like that!

So, where to go for GOOD advice, I don't know!
 
There's only one way to find out, and I surely don't want to know that bad!

If it gets to the point where you can't buy anything with US currency, whether or not your gold is worth anything will be the least of your worries.
 
I've listened to Alex Jones and it's opened my eyes as to what is really going on and who controls the governments. Now I don't listen much to him for it's gets me worked up too. I think the same as everyone else here and I've said the same thing.....how the heck do you barter gold & silver when the dollar or any currency is worthless? Who decides what anything is worth? People thought I was nuts buying a generator right before Y2K but I told them I wont buy something I can't use. I use it for power outages so why is that nuts? I've invested in lead myself so I can eat and protect myself. Even some of the richest people on the Titanic couldn't buy a life raft so what does that tell you? Silver & Gold and any sort of money wont buy what really matters. I'd say invest in food and learn how to can. Next, put your faith in Christ because he's the only hope we have.
 
The best currancy is the stuff you have to trade.
wether it is tools,food, fuel or whatever.
With that being said there is too much money involved for the system to break down completly.
for that would be the end of commerce.
This is not to say your dollar will not be worth less.
Our goverment is now dependent on the Chinese to buy our debt to fund our programs and wars. And you thought all China did was sell us stuff and now they are loaning back the money we paid for their crap.
This is why Americans need to produce what we use.
I will even go so far as to say put a 200% tariff on all imports and the hell with the rest of the world.
And no more foreign aid or policeing the world.
If a country wants help, than pay for it!
While I m on my soapbox. let me say that this adventure in afghanstain has got to stop. Too many of our finest have lost their lives and for what? We got Bin Laden. The way we are set up now just let a terrorest pull something, and we can hit them with missles and give something to cry about.
 
Guy at work bought silver last year or so after 09 crash. Said "can't go wrong. If economy picks up, we'll use more silver in industry. If it it fails it will go up like gold does. Its a win win." Well, it wasn't it didn't soar. I think he paid 30$ or so. I also wonder about gold. After all, you can't take a nugget to town and buy something. I think the best hedge is bartering "stock". Like liquor, ammo, fuel, and produce.
 
Common sense would dictate that Silver and other commodities would be traded in place of paper cash. It would be very difficult to trade with Gold bullion. Silver bullion on the other hand would work out well. But....at that point it almost becomes a barter economy, trading food for fuel or ammo or whatever.
I invest in precious metals, copper jacketed lead. All the end-of-the-world guys keep saying inflation is going to go through the roof. It might, but everyone in the USA still trades with the paper dollar because it is the easiest way to conduct business. We still have not seen a massive run up in food, fuel and other stuff. It sucks to pay 3.80 per gallon for gas, but the price has stabilized. Same thing for food.
As a side note you would be wise to start buying non-perishable food and grocery items. And stock up on many other items that you will need.
 
I for one enjoy these spirited discussions even if they are off topic. We all are wondering many of these same things. I hate to see them get deleted. I agree with your comments. I dare anyone to find ten people who give a royal hoot about anyone in the mid east. I agree about the tariffs too but it does raise the price from the cheap low china prices we've been paying.
 
Gold has been used for trade for thousands of years. The idiots at treasury can't print more of it.

I really don't think it is a very good investment at lest long term but It will always be valuable, portable and accepted the world over.

IMHO the wise person will have secure housing away from any urban area, some way to add value to your resources i.e. food production, mechanical/metalworking skills and the means to defend self and loved ones.

I think some amount of metal in the safe has its place too.

Brad
 
I would be very careful about buying gold. On the one hand, the price has gone up a lot in the last few years. However, with the price increases, people are counterfeiting coins by using a base metal and covering it with gold. I am told that these coins are coming from China. You would be better off to buy junk silver US coins. They are legal tender and the small denominations make them easy to use. It is important to remember that in reality the price of gold and silver is NOT going up, rather the value of the dollar is going down, because the Fed is printing massive amounts of fiat currency. Just my two cents worth,,,
Ted
 
First off when people like Jim Rogers says the paper currencies of the Western World will collapse it bears listening to for me anyway.I bought US Mint Silver Eagles 3 years ago, a pretty substantial amount of them for around $12 each they are a full ounce of Silver and they're worth over $40 oz today.They didn't really go 'up' the US paper Dollar went down.If the paper currencies collapse then some sort of money will be needed to transfer wealth/goods/services for me the Eagles are good because most everyone knows what they are and knows they have a full ounce of Silver.May not ever need them as the economy may not get to that point but like fire insurance on my house I carry it and hope and I never need it.
 
You're right about the Gold Stocks they are just paper too,if you're going that route buy physical Gold and Silver and have it in hand perferably in something like common coins.And have a very good safe place to store it.Good quality gun safes are probably the best fireproof, and about theft/breakin proof plus you can put your guns and ammo with your Gold and Silver.
 
Dollars are almost worthless, more so than the past....Gold is now worth more worthless dollars.....Recent history tells us dollars don't usually go up in worth, at least not much, once things stabilize. (if they ever do)

Gold fluctuates up and down over the ages. Why would anyone want to BUY gold when it's at record highs? What do you have once it starts to free fall in value?

Panic buying hardly ever pays dividends.

9 times in 10, people who promote gold sales are heavily vested in the gold market. YOU buy or sell, THEY get rich. You get to make them rich.

Making profits on gold would have meant buying gold a few years back when it was cheaper. Losing your butt in the gold market means buying now when it's at historical highs.
 
if I had to bet I'd bet Gold would go to $2500 oz before it goes back to $1000.Congress has proven it will refuse to cut wild out of control spending and the only place that $$$ can come from is the Fed flushing more Dollars into the economy which means all things will take more US Dollars to buy them incuding Gold.
 

I also need some help on this gold thing: One, I understand the people that bought gold a while back could cash in and make a nice profit. However, gold is not rare as it is still mined and people all over the world have rat holed a stash, how can it mantain any value as currency? Two, America is no longer on the gold standard and since it is at an all time high why not sell off our Fort Knox gold assets, fire all the employees, sell the place and use the funds pay down the debt. Would not this insure the value of our money?

I am recommending anything here, just trying to understand.
 
If you had bought it a a year ago you'd make some good money, if you bought it two years ago you'd doubled your money. That's a lot better than the government backed GM stock.
 
The government is keeping the gold so they can still be in business when they've destroyed the value of the dollar.

They know all to well the golden rule, "He who has the gold makes the rules".
 
A few months ago I heard Warren Buffet (far from being right all the time) respond to this question...

"What do you think about buying gold?"

Warren answered, "if you owned all the worlds gold bullion, you could fill 3 olympic sized swimming pools"...."at todays price of gold, you could buy up ALL the agricultural land in NORTH AMERICA and still have enough money left over to buy EXXON MOBIL 3 times...."

I know what I would rather own.....

Tim
 
Last 5 years Gold has tripled and real estate has gone in the tank,plus you have to pay taxes on real estate just to own it every year.Now which one would have been best way to go? Buffet also ridiculed those that predicted the real estate and stock market crash back in 07 and early 08.
Supposedly Soros has loaded up on Gold and so has Jim Roger and Peter Schiff.Buffet's company has taken a beating lately.But who knows for sure?
 
(quoted from post at 07:18:14 08/15/11) A few months ago I heard Warren Buffet (far from being right all the time) respond to this question...

"What do you think about buying gold?"

Warren answered, "if you owned all the worlds gold bullion, you could fill 3 olympic sized swimming pools"...."at todays price of gold, you could buy up ALL the agricultural land in NORTH AMERICA and still have enough money left over to buy EXXON MOBIL 3 times...."

I know what I would rather own.....

Tim
Click to expand...


Yea but if you owned all the gold......people would find something else cause only you had it and it would become worthless. If you spent it you wouldn't have it anymore......so a hand full silver could be worth yer 3 pools of gold.....it's only valuable if multiapl people have it and are willing to put a value on it. But on the other hand things like food and fuel are used by almost everyone so it has value to all.

Rick
 
Buffet is a very smart man but he's going to much on the old theory of "It will come back". Much like my dad operated on the theory "You won't have more than three bad years in row".

The problem is Buffet is believes that eventually adults will start running things in Washington, what he fails to realize is that what we have now is the new normal.
 
Indiana Ken, says that "They", "Should sell all
the gold in Fort Knox". From what I"ve read, there"s very little gold in Fort Knox...if any,
it"s all been sold already!
 
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