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byrdman | 07-01-2008 10:05 PM
why buy physical metals? (in practical terms) Ok so I understand why one would be wise to protect their wealth by changing their worthless paper to metals. What I don't completely understand, and what my dad criticizes my metal collecting for, is what do we do with our silver coins/gold bars etc. once the currency finally does crash? Do we use it for trading for goods? use it to buy whatever new currency put in place? Please help me form an arguement that will convince my father that he needs to start buying metals. He's sympathetic to the principles of it but is a very practical kind of guy. I've got him to read Ron Paul's book, etc so hes not exactly a moron but he suffers from what brought Hamlet down - inaction. thanks, byrdman

Infidel | 07-01-2008 11:08 PM
Re: why buy physical metals? (in practical terms) <table class="tborder" id="threadslist" align="center" border="0" cellpadding="6" cellspacing="1" width="100%"><tbody><tr><td class="alt1" id="td_threadstatusicon_134615"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_134615" title="Field Of Screams The cornucopia that America has always assumed has been replaced with plastic fruit and vegetables. We are living in an illusion of plenty. People are in denial. I remember preparing for Y2K for 14 members of my family. Why ? Because they wouldn�t listen to me and I wasn�t..."> Silver Musing XXXIX (http://goldismoney.info/forums/image.../multipage.gif 1 2) agnut </td> <td class="alt2" title="Replies: 75, Views: 3,844"> 07-06-2007 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">75</td> <td class="alt2" align="center">3,844</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_113169"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_113169" title="The Mighty Penny (or The Emperor Has No Clothes) (or A Penny For Your Thoughts) Or� I have several bricks of pennies and a couple of nickels. I also have many thousands of wheat pennies that I got for face a while back. They just sit there, waiting for the day when they may be valued enough more..."> Silver Musing XXXVIII agnut </td> <td class="alt2" title="Replies: 22, Views: 927"> 03-02-2007 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">22</td> <td class="alt2" align="center">927</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_63378"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_63378" title="A King Midas Or A Yankee Trader ? Think 1,000 Times I wonder what the silver situation will be like in the year 2016. Won�t we have many new uses for silver that we hadn�t yet discovered back in 2006, therefore increasing demand ? Even today we are continually finding new uses for silver..."> Silver Musing XXXVII agnut </td> <td class="alt2" title="Replies: 20, Views: 750"> 09-14-2006 by des00s http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">20</td> <td class="alt2" align="center">750</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_59415"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_59415" title="This was written a while back as a private message and snowballed into a short silver musing as I am an inveterate windbag without any semblance of self restraint, or shame for that matter. A little truth in journalism. ================================================== === Re: Parabolic rise in..."> Silver Musing XXIV agnut </td> <td class="alt2" title="Replies: 17, Views: 564"> 08-31-2006 by Ponce Cuba http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">17</td> <td class="alt2" align="center">564</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_53786"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_53786" title="Horsetrading And Bartering I can�t help but feel that we are heading into times of some great opportunities. The question is, will you be ready ? Horsetrading and bartering are definite skills that can and should be sharpened to a fine edge. While some can do well in buying and selling stocks..."> Silver Musing XXXVI agnut </td> <td class="alt2" title="Replies: 26, Views: 997"> 08-18-2006 by AMforPM http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">26</td> <td class="alt2" align="center">997</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_50107"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_50107" title="Thanks to The Argent Dragon for the recent post that got my mind reeling (even more than usual. Someday I�ll lose my bearings and spin out of balance. The upside is that I won�t even know it). ================================================== ==== Quote : 4,477 delivery notices this..."> Silver Musing XXXV agnut </td> <td class="alt2" title="Replies: 37, Views: 1,486"> 08-02-2006 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">37</td> <td class="alt2" align="center">1,486</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_35933"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_35933" title="Time. What is it and how do we use it ? At the outset I knew that I would have an interesting time writing about time. Not to worry; I won�t get all mystical or scientific on ya. What I will attempt to do in my own meandering, convoluted way is to reveal how we travel through this intangible..."> Silver Musing XXVII agnut </td> <td class="alt2" title="Replies: 18, Views: 798"> 05-11-2006 by panocrat http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">18</td> <td class="alt2" align="center">798</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_35555"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_35555" title="Illusions And Reality We live in a world of illusions and reality. And many deceptions thrown in our path (thanks in great part to the media) to obscure reality. It might be best to explore some of these illusions before they collide with hard realities. For when they do collide, dangerous..."> Silver Musing XXIX agnut </td> <td class="alt2" title="Replies: 20, Views: 749"> 05-04-2006 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">20</td> <td class="alt2" align="center">749</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_35358"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_35358" title="The following is a recent thread from merc49 that got me to thinking and when I start I can�t stop. So you, the reader, will have to put up with my inanities now that you are sucked in. ================================================== ============ Would you have sold? I was in a local..."> Silver Musing XXVIII agnut </td> <td class="alt2" title="Replies: 28, Views: 1,003"> 05-01-2006 by SilverHare http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">28</td> <td class="alt2" align="center">1,003</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_33962"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_33962" title="Thanks to WAoG who posted the following article titled �Using a Dow/gold ratio, gold could go as high $3,668/oz.�. I got to thinking about what this could mean for silver and with other projected possibilities. http://www.resourceinvestor.com/pebble.asp?relid=18843 Gue calculated a ratio..."> http://goldismoney.info/forums/image...hcan_small.gif Silver Musing XXV agnut </td> <td class="alt2" title="Replies: 23, Views: 1,278"> 04-16-2006 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">23</td> <td class="alt2" align="center">1,278</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_33982"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_33982" title="This is written in response to a post that Rampon sent me as a result of my recent silver musing XXV. It began as an answer but the subject is so enormous that I felt it should have wider readership in order to help readers consider their own situations and to act now if they are convinced that..."> Silver Musing XXVI agnut </td> <td class="alt2" title="Replies: 0, Views: 221"> 04-15-2006 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">0</td> <td class="alt2" align="center">221</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_25115"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_25115" title="Brother, can you spare a paradigm ? Thanks G-Khan for the thread about the Mogambo Guru aka Richard Daughty; ya gotta love this guy ! I just listened to his half hour interview and it is so different than reading the same silver topics. The Mogambo has all the makings of a great stand up..."> Silver Musing XXIII agnut </td> <td class="alt2" title="Replies: 16, Views: 823"> 10-21-2005 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">16</td> <td class="alt2" align="center">823</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_24376"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_24376" title="Are Precious Metals Senseless ? There, I thought that would get your attention. No Cliff Notes here for any armchair lazy speculators. Sorry, but you are going to have to read further if you are to understand why this title makes the hair stand up on the back of your collective necks. Hi..."> Silver Musing XXII agnut </td> <td class="alt2" title="Replies: 0, Views: 392"> 09-30-2005 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">0</td> <td class="alt2" align="center">392</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_22793"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_22793" title="To Connect A Dot Or Not�. ? For some time I have been in the dark as to why the Mexican legislature had rejected Hugo Salinas Price�s proposal of issuing a silver Libertad. After all, almost every Mexican citizen was for it as well as all governors. So is the following quote too much of a..."> Silver Musing XX agnut </td> <td class="alt2" title="Replies: 30, Views: 843"> 08-03-2005 by hystckndle http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">30</td> <td class="alt2" align="center">843</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_22481"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_22481" title="Thanks for the heads up, samwheat. It seems that the U.S. Commodities Futures Trading Commission looks at the smaller silver production versus the larger silver consumption as normal pricing as long as the draw down can continue at the expense of silver inventory reduction. The U.S. government..."> SILVER MUSING XVIII agnut </td> <td class="alt2" title="Replies: 21, Views: 915"> 07-24-2005 by Ponce Cuba http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">21</td> <td class="alt2" align="center">915</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_22514"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_22514" title="There are so many variables regarding silver�s future that it is impossible to know for certain when and how high silver prices will go. Some of the variables we know for a fact but some we can only guess at. It is like a jigsaw puzzle with several pieces missing; some will get the picture and some..."> http://goldismoney.info/forums/image.../paperclip.gif SILVER MUSING XIX agnut </td> <td class="alt2" title="Replies: 19, Views: 574"> 07-20-2005 by hystckndle http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">19</td> <td class="alt2" align="center">574</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_18348"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_18348" title="Good day Hypertiger. This silver musing is dedicated to you. I thought your hyper deflationary scenario deserves serious consideration (Yours, agnut ? Lord have mercy ! ) as we do not want to be blindsided in the future. You have tirelessly proposed and defended your position against the slings and..."> http://goldismoney.info/forums/image.../paperclip.gif Silver Musing XVII agnut </td> <td class="alt2" title="Replies: 12, Views: 637"> 02-21-2005 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">12</td> <td class="alt2" align="center">637</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_18228"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_18228" title="While we often refer to how things are interconnected like a spider web, the decisions of where we want to be on that spider web (or off the web altogether) are largely ignored by the masses. And that is where TPTB derive their power and control. The masses GIVE the decisions to them instead of..."> Silver Musing XVI agnut </td> <td class="alt2" title="Replies: 27, Views: 819"> 02-14-2005 by SilverKnight http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">27</td> <td class="alt2" align="center">819</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_14843"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_14843" title="It is mid morning and several passengers are waiting to board the Silverstreak at the station of the Metropolis. There is the usual human activity buzzing about with one exception. There are no well wishers there for the departing passengers. In fact, there are some there pleading for passengers to..."> Silver Musing VII agnut </td> <td class="alt2" title="Replies: 13, Views: 700"> 11-21-2004 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">13</td> <td class="alt2" align="center">700</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_14200"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_14200" title="P.S, I would be happy to write further about how to buy a used car. I have owned two used car lots (please don�t hold that against me. Like lawyers, the 98 percent of used car dealers give the other 2 percent a bad name.) and owned several automotive repair shops. There are about 5 ways to approach..."> silver musing, buying a used car SilverNuts@Bolts </td> <td class="alt2" title="Replies: 12, Views: 491"> 10-22-2004 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">12</td> <td class="alt2" align="center">491</td> <td class="alt1">General Discussion</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_14171"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_14171" title="�A day's wage used to be a silver dime, a silver quarter, or maybe a silver dollar. A silver dime today costs about 45 cents, at $6.20/oz. for silver. About 900 million oz. of silver are consumed annually, and just under 600 million ounces mined annually. Oddly, there is seven times as much..."> Silver Musing XV (and rants, ramblings and digressions) agnut </td> <td class="alt2" title="Replies: 13, Views: 574"> 10-19-2004 by Infidel http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">13</td> <td class="alt2" align="center">574</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_13537"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_13537" title="When in high school I was the editor of the school newspaper. In all honesty, it wasn�t anything to brag about. I was probably the least stupid in journalism class (or the biggest sucker). It was fun, though. I got called on the mat with my parents in attendance by the principal for a column I..."> Silver Musing XIV agnut </td> <td class="alt2" title="Replies: 19, Views: 759"> 09-20-2004 by Halophyte http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">19</td> <td class="alt2" align="center">759</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_12410"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_12410" title="This started out as an answer to a post but was so on topic to a future silver musing that I had to jump the gun (once again). ================================================ Agnut, my wife would be interested in silver/gold investment in jewelry. :) Are your purchases mainly silverware..."> Silver Musing XIII agnut </td> <td class="alt2" title="Replies: 5, Views: 462"> 07-30-2004 by Silverity http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">5</td> <td class="alt2" align="center">462</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_12291"> </td> <td class="alt2"> </td> <td class="alt1" id="td_threadtitle_12291" title="Where are we going and when ? The future has perplexed mankind for as long as he has had the capacity to speculate. We pass through time not aware that each second is open to a profusion of new possibilities. Sometimes epiphanies propel us to a higher plane of understanding. Because of the very..."> Silver Musing XII agnut </td> <td class="alt2" title="Replies: 9, Views: 594"> 07-27-2004 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">9</td> <td class="alt2" align="center">594</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_12005"> http://goldismoney.info/forums/image...thread_hot.gif </td> <td class="alt2">http://goldismoney.info/forums/images/icons/icon6.gif</td> <td class="alt1" id="td_threadtitle_12005" title="Preserving Your Wealth or Hide In Plain Sight Welcome to the third world. Somewhere in the back hills of one of the Carolinas. We travel on a county road for some distance to a dirt road on the right. For the first while I enjoy the idyllic countryside but then know I am getting close as I can..."> Silver Musing X agnut </td> <td class="alt2" title="Replies: 16, Views: 1,053"> 07-25-2004 by agnut http://goldismoney.info/forums/image...s/lastpost.gif </td> <td class="alt1" align="center">16</td> <td class="alt2" align="center">1,053</td> <td class="alt1">Gold Silver - Precious Metals</td> </tr><tr> <td class="alt1" id="td_threadstatusicon_11918"> http://goldismoney.info/forums/image...thread_hot.gif </td> <td class="alt2">http://goldismoney.info/forums/images/icons/icon6.gif</td> <td class="alt1" id="td_threadtitle_11918" title="The illusion of Comex silver inventory available for delivery will continue until their bluff is called. When available silver has been consumed and the only quantity of silver is what the Comex figures say they have, their remaining silver would probably be changed into the unavailable category or..."> Silver Musing IX agnut </td></tr></tbody></table>

Cassius | 07-01-2008 11:13 PM
Re: why buy physical metals? (in practical terms) Fact 1: The Federal Reserve and FDIC have said they can insure deposits but they can't insure purchasing power. Inflation is the name of the game. Fact 2: In a world where nearly EVERY currency is fiat currency, unbacked by anything except "faith and confidence", PMs are the only way to preserve purchasing power. Fact 3: In a world beset by deceit and corruption, if you don't hold it, you don't own it. Money has been around since the beginning of time. It's so inconvenient to trade 1/5 of a cow for a chicken, etc. If our currency collapses, either (1) it will be replaced in short order by a new currency, in which case the purchasing power of PMs is preserved, or (2) in the absence of anything else people will return to what has historically been money: gold and silver, in which case the PMs themselves "become" the money.

Cassius | 07-01-2008 11:16 PM
Re: why buy physical metals? (in practical terms) Oh, I also might point out this: In the 80's the government changed the way they reported inflation. Right now they say inflation is about 3%. If you calculate it the way it was done a couple decades ago, you get at least 8-12%. That means that anyone who has money in a bank getting 4% or whatever is LOSING PURCHASING POWER every day. Likewise, anyone who gets a measly "COLA" (cost-of-living adjustment) raise each year is also losing ground. They are being paid less the longer they work, in terms of purchasing power and not nominal dollars.

cosmolothrentas | 07-01-2008 11:25 PM
Re: why buy physical metals? (in practical terms) 1. I'll have it, you won't. That is the first thing I would tell him. Ask him what his gut reaction is to that. If he has no reaction because you are his son, tell him some person he knows and dislikes has gold and silver when the sh!t hits the fan, and he has none. What is his gut reaction to that? 2. Ask him if he expects to die before the shtf. If he does, then I guess he should eat drink and be merry for tomorrow we die. If he thinks he MIGHT be around when tshtf, ask him what use is any of his stuff for barter? Tell him you prep on top of acquiring PM's....does he even do that? 3. Ask him if he expects greed to vanish when the shtf. If the ONLY thing people will be concerned with is filling their empty stomachs when the shtf, that means civilization was somehow bombed back to the stone age. In which case, why hang around? But if people will still have a lust for gold after the shtf, bad times will NOT stop people from wanting to acquire gold/silver. If you have it, people will barter for it. Greed and the desire for a symbol of wealth will NOT vanish. It would only be stronger, actually. I have ten to twenty more arguments. All better than those three, but those are the "visceral reaction" arguments. .

Sparky | 07-02-2008 12:25 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Cassius (Post 1172597) ... If our currency collapses, either (1) it will be replaced in short order by a new currency, in which case the purchasing power of PMs is preserved, or (2) in the absence of anything else people will return to what has historically been money: gold and silver, in which case the PMs themselves "become" the money.
This is the answer in a nutshell. Good job, Cassius. You can ignore all the follow-up posts which will try to explain to you the wisdom of owning PM, which was not your question.

Saul Mine | 07-02-2008 01:03 AM
Re: why buy physical metals? (in practical terms) If you hold something useful you have the freedom to choose what to do. It doesn't have to be metal, it can be anything useful. But holding large amounts of anything else is rather impractical. If you hold paper money you have no choice.

wille | 07-02-2008 01:14 AM
Re: why buy physical metals? (in practical terms) J Siclairs last interview he stated silver is goin to 30$ and thats about it-- I watched it and thats what he said. So go figure. Also theres one guy whos a retired coin retailer Kall Gronvall , you should hear what he has to say-- he has a website and has done goldseek and Byte radio. He makes a good point. My coin dealer says 200 is in the bag and possible 1000$ silver. But actually where ya gonna store your wealth? no brainer no matter what pms do eventually.... :rose:

byrdman | 07-02-2008 01:49 AM
Re: why buy physical metals? (in practical terms) sigh. thanks everyone, I will try to convince him to start holding PMs. Its hard being 18 and trying to take command of the ship so to speak, but I must, and I will. What scares me the most is the anticipation of feeling that I didn't do enough to save my loved ones. No, we don't prep. Yes we have more than enough disposable income to do so. It pisses me off soo badly. Just today my dad comes home with a 5lb bag of rice exclaiming "Jeez 5lbs for 10$ I never knew rice was so expensive!" MORON!! its called inflation!!! its happening! didn't I tell you? Then I suggested buying as much as possible now, because why think that rice won't be 20$ or 30$ or 100$ in the future? he just kinda went away to watch "deadliest catch".... I only have like 1000$ in my account maybe ill just spend it all on food, and like 10% on more silver. Why the hell not?

Saul Mine | 07-02-2008 05:00 AM
Re: why buy physical metals? (in practical terms) Don't talk about "prep" to a non-prepper. Talk about keeping some extra food in the house, and stocking up when it's on sale. You need food anyway, and you can not only buy it cheaper, you also avoid an extra trip to the store. Oh, and if you are only 18, don't try to act like an expert (even if you are). Try to act more like a butler.

Bossman | 07-02-2008 05:58 PM
Re: why buy physical metals? (in practical terms) Printing reading material such as some of these posts might be a good idea. Just leave them laying around where family members can look at them. There's no guarantee they will but it's one more option. In the meantime, one should prep ones self and if funds permit, get some for family as well.

Twisted Avatar | 07-02-2008 07:42 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by byrdman (Post 1172730) sigh. thanks everyone, I will try to convince him to start holding PMs. Its hard being 18 and trying to take command of the ship so to speak, but I must, and I will. What scares me the most is the anticipation of feeling that I didn't do enough to save my loved ones. No, we don't prep. Yes we have more than enough disposable income to do so. It pisses me off soo badly. Just today my dad comes home with a 5lb bag of rice exclaiming "Jeez 5lbs for 10$ I never knew rice was so expensive!" MORON!! its called inflation!!! its happening! didn't I tell you? Then I suggested buying as much as possible now, because why think that rice won't be 20$ or 30$ or 100$ in the future? he just kinda went away to watch "deadliest catch".... I only have like 1000$ in my account maybe ill just spend it all on food, and like 10% on more silver. Why the hell not?
First things first you are to behighly commended for your abilty to grasp such a complex subject and realize a course of action must be taken and taken promplty ....If I was just half as smart as you at 18 my fortune would dwarf Bill gates and Buffet combined. Second point you must understand...... YOU CANT CONVINCE ANYBODY OF ANYTHING .... ALL YOU CAN DO IS RESPECTFULLY REQUEST THAT THEY RESEARCH THIS MATTER MORE FOR THEMSELVES AND YOU WILL BE HAPPY TO ANSWER ANY QUESTIONS THEY HAVE. THAT IS IT. My mom would tell me over and over..........AN EDUCATION IS WHAT YOU GET WHEN YOU DO LISTEN...EXPERIENCE IS WHAT YOU GET WHEN YOU DONT. 92% of the population is going to be taught by experince and for many that lesson will be FATAL. All you can do is continue to education yourself, ask questions and prepare as best as your budget will allow. The smart will come around ....... those who dont. THE LAW OF THE JUNGLE WILL TAKE CARE OF THEM. T

Twisted Avatar | 07-02-2008 07:49 PM
Re: why buy physical metals? (in practical terms) Oh yeah.... Welcome to GIM ..... you are among good friends. T

Twisted Avatar | 07-02-2008 08:06 PM
Re: why buy physical metals? (in practical terms) print this out and attach it to the fridge.......let the old man see.......he will one day ask you a question about this. Ten Commandments For Buying Gold & Silver: I. ALWAYS TAKE DELIVERY! NEVER let the firm store it for you! Do not place them in a safety deposit box. They can be frozen pending litigation or national emergency. II. Never buy premium if you can avoid it. (Hint:) Most precious metals being sold on TV or Radio are at premium or much higher. III. Buy bullion for business, numismatics for fun. IV. Buy silver first, then gold. You get more for your money with silver and the reasons are the same. V. Buy small gold first, then large. It is always wise to hold multiple denominations and forms. VI. Never buy exotic coins or modern rarities or ANYTHING YOU DO NOT UNDERSTAND. When it comes time to sell, it is very likely you will not get the price you paid. Remember that Rarity and thus value is in the eye of the buyer not the seller. VII. Know your dealer. This relationship will be invaluable as time goes on.( It is wise that you form several independent of each other). A true dealer will take time to educate you and answer All your relevant questions without putting a hammerlock on you to buy something. VIII. What governments can't find, they can't steal, nor tax And lawyers can't sue thus the ULTIMATE in asset protection. IX. NEVER talk to anyone about where you store your physical metals or the amount you actually own, Loose lips sinks ships. X. There is no need to ever break the law. Because the laws on the books will ALWAYS Favor those who are rich because it is them who write the laws in the first place. XI Always do your own independent due diligence. If a deal is sound it will remain sound until after you research it. TRUST, BUT VERIFY ALWAYS.

Twisted Avatar | 07-02-2008 08:12 PM
Re: why buy physical metals? (in practical terms) This is a 7 minute video....... it dosent get any simpler than this. and make sure he listens very carfully to where the price of gold and silver was when this video was made....... let him stew on those numbers for a good while. YouTube - Jones on Gold and Silver
YouTube - Jones on Gold and Silver

lhslancers | 07-02-2008 08:19 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by wille (Post 1172701) J Siclairs last interview he stated silver is goin to 30$ and thats about it-- I watched it and thats what he said. So go figure. Also theres one guy whos a retired coin retailer Kall Gronvall , you should hear what he has to say-- he has a website and has done goldseek and Byte radio. He makes a good point. My coin dealer says 200 is in the bag and possible 1000$ silver. But actually where ya gonna store your wealth? no brainer no matter what pms do eventually.... :rose:
Those numbers are crazy. Let's see Silver cross the old 50 dollar top first. As for Sinclair's 30 Dollar WAG I would imagine he is using a $2000 or so target for Gold. Since Gold and Silver have appreciated more or less the same since the 250 Gold bottom I would have to think Silver would at least keep pace with Gold from here. At least.

Iptuous | 07-02-2008 08:20 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Bossman (Post 1173769) Printing reading material such as some of these posts might be a good idea. Just leave them laying around where family members can look at them. There's no guarantee they will but it's one more option.
Yeah, but if you do this, make sure to edit out your post where you call your old man a moron! :wink:

Hi Ho SILVER | 07-02-2008 08:20 PM
Re: why buy physical metals? (in practical terms) YO TA...Good stuff...I love your pep talks.....Put me in coach...I'm ready to play!! :favorites21:

lhslancers | 07-02-2008 08:20 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by byrdman (Post 1172492) Ok so I understand why one would be wise to protect their wealth by changing their worthless paper to metals. What I don't completely understand, and what my dad criticizes my metal collecting for, is what do we do with our silver coins/gold bars etc. once the currency finally does crash? Do we use it for trading for goods? use it to buy whatever new currency put in place? Please help me form an arguement that will convince my father that he needs to start buying metals. He's sympathetic to the principles of it but is a very practical kind of guy. I've got him to read Ron Paul's book, etc so hes not exactly a moron but he suffers from what brought Hamlet down - inaction. thanks, byrdman
Hopefully by buying the metals themselves you will be less apt to take profits prematurely. Hopefully. :bear_wub:

Twisted Avatar | 07-02-2008 08:34 PM
Re: why buy physical metals? (in practical terms) 1 Attachment(s) Quote:
Originally Posted by Hi Ho SILVER (Post 1173952) YO TA...Good stuff...I love your pep talks.....Put me in coach...I'm ready to play!! :favorites21:
HH you gotta hold back for now you are THE SECRET WEAPON!!! when the silver rocket takes off.... there will be scores of buyers on bended knee willing to pay through the fricken nose for what we got........ an asset that carriers no counterparty risk that is recognized all over the globe. Then....that is when the fun begins. TOP DOGS FOR LIFE!!!

Hi Ho SILVER | 07-02-2008 08:44 PM
Re: why buy physical metals? (in practical terms) Key-- still loading up Ag at under $20 a Z...giving us plenty of time stock up!! I get paid tomorrow because of the holiday....I'll be backin up da truck to add to my large beautiful PILE!!!.......YEEEEEHAWWWWWWWWW

daveman | 07-03-2008 02:05 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Cassius (Post 1172597) If our currency collapses, either (1) it will be replaced in short order by a new currency, in which case the purchasing power of PMs is preserved, or (2) in the absence of anything else people will return to what has historically been money: gold and silver, in which case the PMs themselves "become" the money.
Yes, I finally got in! Long time lurker here, (yes, Twisted Avatar, I know I'm amongst good company here :s1: ) first post. I have thought about this possible "transition" for sometime, and while it is certainly true that whatever government that will be in charge the US after the USD has collapsed will TRY to put in a new currency immediately, AT THAT POINT, WHO WILL STILL BE DUMB ENOUGH TO BELIEVE THEM? Really, even for the sheeple, after having experienced the collapse of the USD, many, if not most, will have somewhat wised up and and "authority figure" that tries to quickly rush in another paper currency will just get booed off the stage. If the USD collapses, gold and silver, along with anything of recognizable value (jade, emerald, ruby...) or usage (smokes, bullets, machetes) will be accepted in place of money. NO PAPER will be accepted in the immediate aftermath of a currency collapse. Think about it.

byrdman | 07-03-2008 03:01 AM
Re: why buy physical metals? (in practical terms) Thanks TA, your one intense dude! (or girl?? best not to assume things) my to do list: 1)continue talks with the parents (bought dad Schiff's Crash Proof for fathers' day.) 2)visit the local coin shop. 3)sell a few of my guitars (i have way too many and they will fetch a pretty penny. whats the use for more than an acoustic anyway to sing the blues on when SHTF.) 4)start buying bulk foods with my own damned money. 5)hide my measly stash. of pm's that is. not mary jane, shes already taken care of...

Twisted Avatar | 07-03-2008 09:08 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by byrdman (Post 1174429) Thanks TA, your one intense dude! :emotions16: my to do list: 1)continue talks with the parents (bought dad Schiff's Crash Proof for fathers' day.) Talking really wont impress them YOUR ACTION AND LEVEL OF COMMITMENT WILL..... you will need to demostrate this is not some passing fad, you are in this for the long haul 2)visit the local coin shop. Very good move (I am quite sure you will impress the shopkeeper that you have a eye for this stuff ) establish that relationship NOW you dont want to one of the johnny come latley after the price spikes 3)sell a few of my guitars (i have way too many and they will fetch a pretty penny. whats the use for more than an acoustic anyway to sing the blues on when SHTF.) Great Idea make sure you keep at least TWO accoustics.. .... you will learn around here two is one and one is NONE 4)start buying bulk foods with my own damned money. excellent move you will be surprised what you will accquire is in a short period of time 5)hide my measly stash. of pm's that is. Never speak poorly about your stash EVER ... whatever you got is alot and probally more that 95% of the population and to take it one step further out of a nation of 350 million plus people probally about 60,000 Know the real story about silver...why is it actually more valuable/scare than gold you are part of THE ELITE OF THE ELITE OF THE ELITE!
.......................... T

Twisted Avatar | 07-03-2008 09:22 AM
Re: why buy physical metals? (in practical terms) 1 Attachment(s) Quote:
Originally Posted by daveman (Post 1174373) Yes, I finally got in! Long time lurker here, (yes, Twisted Avatar, I know I'm amongst good company here :s1: ) first post. I have thought about this possible "transition" for sometime, and while it is certainly true that whatever government that will be in charge the US after the USD has collapsed will TRY to put in a new currency immediately, AT THAT POINT, WHO WILL STILL BE DUMB ENOUGH TO BELIEVE THEM? You will be astounded at the sheer stupidity of the sheep my friend......... couple that with the fact that 95% of the population has never been prepared for any type of "long emergency" the larger portion of those who remain after such will practically be begging for some one to take the reigns. Remember: When chaos ensues people will flee to whomever is offering "security" . Really, even for the sheeple, after having experienced the collapse of the USD, many, if not most, will have somewhat wised up and and "authority figure" that tries to quickly rush in another paper currency will just get booed off the stage. If the USD collapses, gold and silver, along with anything of recognizable value (jade, emerald, ruby...) or usage (smokes, bullets, machetes) will be accepted in place of money. NO PAPER will be accepted in the immediate aftermath of a currency collapse. The people that where smart and laid out provisons before this calimity took place will make the adjustment that you allude to and folks that are futher away form the metro areas will setup up small enclaves and trading hubs.... nessecity will dictate this. Think about it. I have ...........those that are dependant on the state for support and standard of living there goose is dammed cooked and cooked well
.........................

HistoryStudent | 07-03-2008 03:49 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Cassius (Post 1172598) Oh, I also might point out this: In the 80's the government changed the way they reported inflation. Right now they say inflation is about 3%. If you calculate it the way it was done a couple decades ago, you get at least 8-12%. That means that anyone who has money in a bank getting 4% or whatever is LOSING PURCHASING POWER every day. Likewise, anyone who gets a measly "COLA" (cost-of-living adjustment) raise each year is also losing ground. They are being paid less the longer they work, in terms of purchasing power and not nominal dollars.
Like old US senator Daniell Webster said in 1839: "Only one in 10,000 can FIGURE out they are getting robbed by INFLATION!"

THE FRENCH BLACK SHEEP | 07-03-2008 03:53 PM
Re: why buy physical metals? (in practical terms) because it sure looks nice

Martian_Time_slip | 07-03-2008 04:48 PM
Re: why buy physical metals? (in practical terms) Look at it from their perspective. This is the first economic down-turn you're going through. Depending on how old they are, they've been through several already Let's not forget the Vietnam war, where people had to take turns for gas, people actually got out into the streets and burned their draft cards, and economically things were really bad. We're not even close to that. Obviously, they made it through those downturns and have the experience to make it through others. You (and I) don't have any experience. The only right thing to do is to take the lead and do what you can with limited means, and if SHTF, say, like some natural disaster hit (earthquake, hurricane, tornado, flooding, snowstorm, depending on where you live, then you're prepared, and then they'll have experience in trusting you. We're just a bunch of kids to them. I wouldn't even bother "converting" them. You've had your say, I'm sure they get the point, so talk about something else. The world is just a show.

MystryBox | 07-03-2008 05:56 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by byrdman (Post 1172492) Ok so I understand why one would be wise to protect their wealth by changing their worthless paper to metals. What I don't completely understand, and what my dad criticizes my metal collecting for, is what do we do with our silver coins/gold bars etc. once the currency finally does crash? Do we use it for trading for goods? use it to buy whatever new currency put in place? Please help me form an arguement that will convince my father that he needs to start buying metals. He's sympathetic to the principles of it but is a very practical kind of guy. I've got him to read Ron Paul's book, etc so hes not exactly a moron but he suffers from what brought Hamlet down - inaction. thanks, byrdman
Practical considerations on PM ownership for folks who aren't GIM-crazy-people: Negative Real Interest Rates Currently we are in a rare period of negative real interest rates. That means the return from a safe investment is lower than the rate of inflation. So if you buy a bank CD that pays 3% when inflation is at 6% (for example) you're not making 3% you're losing 3%. Worse, money that isn't bearing interest is losing 6%. If on the other hand you invest in a commodity (e.g. silver, gold) the commodity will tend to keep its value against inflation. High Risk Environment Currently we are in a credit environment of escalating default risk. All sorts of banks, loans, and investments are defaulting. Nearly any investment has some default risk and in environments like this those risks are higher. Even rare risks of a negative currency event or government default are higher in this sort of environment. Gold and silver are a pure asset that is not anyone else's liability--they have zero default risk as they cannot default. They are well suited for wealth protection in high risk environments. Demand Because of the above factors more and more people are moving into the safety of gold and silver. This demand for precious metals will tend to increase their value beyond just the inflation rate. When to Sell I think the simple answer of when to sell an asset is when you find a better use for that money (keeping in mind the above factors). However also ask yourself if you were to put your money in real estate property, when would you sell? Often the answer to that is "never." You might just keep property in your estate and pass it along to your kids. Precious metals might be thought of in just the same way. They are a safe way to preserve wealth. They might be considered property that has no property tax and very low maintenance costs.

southfork | 07-03-2008 06:01 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by lhslancers (Post 1173948) Those numbers are crazy. Let's see Silver cross the old 50 dollar top first. As for Sinclair's 30 Dollar WAG I would imagine he is using a $2000 or so target for Gold. Since Gold and Silver have appreciated more or less the same since the 250 Gold bottom I would have to think Silver would at least keep pace with Gold from here. At least.
I'd be happy seeing solid 20 let alone 100 or 1000, the only way you see three digits is a real failure to deliver to commercial industry.

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Irons | 07-03-2008 06:53 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by MystryBox (Post 1175452) Practical considerations on PM ownership for folks who aren't GIM-crazy-people: Negative Real Interest Rates Currently we are in a rare period of negative real interest rates. That means the return from a safe investment is lower than the rate of inflation. So if you buy a bank CD that pays 3% when inflation is at 6% (for example) you're not making 3% you're losing 3%. Worse, money that isn't bearing interest is losing 6%. If on the other hand you invest in a commodity (e.g. silver, gold) the commodity will tend to keep its value against inflation. High Risk Environment Currently we are in a credit environment of escalating default risk. All sorts of banks, loans, and investments are defaulting. Nearly any investment has some default risk and in environments like this those risks are higher. Even rare risks of a negative currency event or government default are higher in this sort of environment. Gold and silver are a pure asset that is not anyone else's liability--they have zero default risk as they cannot default. They are well suited for wealth protection in high risk environments. Demand Because of the above factors more and more people are moving into the safety of gold and silver. This demand for precious metals will tend to increase their value beyond just the inflation rate. When to Sell I think the simple answer of when to sell an asset is when you find a better use for that money (keeping in mind the above factors). However also ask yourself if you were to put your money in real estate property, when would you sell? Often the answer to that is "never." You might just keep property in your estate and pass it along to your kids. Precious metals might be thought of in just the same way. They are a safe way to preserve wealth. They might be considered property that has no property tax and very low maintenance costs.
You bring up great points I hope folks will read. Heres another senario: We have a decent amount of real estate my wife and I bought on our own, not Mc Mansions just 2 nice houses with one in a resort area with 21 acres. Now for the killer, they are in Michigan and you cant sell a house here not to mention a summer home to save your ass. One is paid off and the other is 3/4 paid off but that makes no difference, they cannot be sold as there are no buyers and I'm not going to give them away.I will burn them first. Michigans current canaidian governer's best idea to solve the problem is to raise property taxes and any other tax on the handful of people who still have a job. Michigan was in a death spiral 2 years ago, now its in a straight line plunge. I wish I diden't have paid off property, I wish I would have sucked the equity off all of it, saved it, and never botherd doing the "right thing" and just cashed out as much as I could. Go out west, burn my SS card and claim to be from south america.

j-son | 07-03-2008 07:10 PM
Re: why buy physical metals? (in practical terms) here is some gold being sold at spot price in orlando http://orlando.craigslist.org/clt/739319995.html

tekhen | 07-04-2008 12:12 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Twisted Avatar (Post 1173932) print this out and attach it to the fridge.......let the old man see.......he will one day ask you a question about this. Ten Commandments For Buying Gold & Silver: I. ALWAYS TAKE DELIVERY! NEVER let the firm store it for you! Do not place them in a safety deposit box. They can be frozen pending litigation or national emergency. II. Never buy premium if you can avoid it. (Hint:) Most precious metals being sold on TV or Radio are at premium or much higher. III. Buy bullion for business, numismatics for fun. IV. Buy silver first, then gold. You get more for your money with silver and the reasons are the same. V. Buy small gold first, then large. It is always wise to hold multiple denominations and forms. VI. Never buy exotic coins or modern rarities or ANYTHING YOU DO NOT UNDERSTAND. When it comes time to sell, it is very likely you will not get the price you paid. Remember that Rarity and thus value is in the eye of the buyer not the seller. VII. Know your dealer. This relationship will be invaluable as time goes on.( It is wise that you form several independent of each other). A true dealer will take time to educate you and answer All your relevant questions without putting a hammerlock on you to buy something. VIII. What governments can't find, they can't steal, nor tax And lawyers can't sue thus the ULTIMATE in asset protection. IX. NEVER talk to anyone about where you store your physical metals or the amount you actually own, Loose lips sinks ships. X. There is no need to ever break the law. Because the laws on the books will ALWAYS Favor those who are rich because it is them who write the laws in the first place. XI Always do your own independent due diligence. If a deal is sound it will remain sound until after you research it. TRUST, BUT VERIFY ALWAYS.
My first post and IMO these are great commandments to 'live by'!

Twisted Avatar | 07-04-2008 12:53 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Irons (Post 1175516) You bring up great points I hope folks will read. Heres another senario: We have a decent amount of real estate my wife and I bought on our own, not Mc Mansions just 2 nice houses with one in a resort area with 21 acres. Now for the killer, they are in Michigan and you cant sell a house here not to mention a summer home to save your ass. One is paid off and the other is 3/4 paid off but that makes no difference, they cannot be sold as there are no buyers and I'm not going to give them away.I will burn them first. Michigans current canaidian governer's best idea to solve the problem is to raise property taxes and any other tax on the handful of people who still have a job.Michigan was in a death spiral 2 years ago, now its in a straight line plunge. I wish I diden't have paid off property, I wish I would have sucked the equity off all of it, saved it, and never botherd doing the "right thing" and just cashed out as much as I could. Go out west, burn my SS card and claim to be from south america.
That is nasty bombshell that NO ONE is taking about: Property taxes. As the local town economy starts to sink they are blow the taxes skyhigh to stave off bankrupty and snap the financial spine of those who did take part in the maddness (sociolism at it finest). I half way live with one foot out the door right now.......cause when it happens I am gonna throw this baby right back to them jump in my car with my PM's I will not spend my horde trying to hold on to loosing propersition When you get out west.....tell them you have a cousin from Jersey coming to set up shop with ya:smile: T

Twisted Avatar | 07-04-2008 12:55 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by tekhen (Post 1176521) My first post and IMO these are great commandments to 'live by'!
Anytime my Tek........happy to be of service.:smile: T

Jonas Parker | 07-04-2008 01:19 PM
Re: why buy physical metals? (in practical terms) Byrdman, obviously you have a computer or you wouldn't be here. Set up an Excel spreadsheet covering the last 2 years showing the closing monthly prices of 1000 shares each of the following "blue-chip" stocks: Citicorp, Bank of America, Ford, GM, Merrill Lynch, Bear Sterns. Then show the total paid for all the stocks if invested in gold and/or silver over the same time period. Print it out and hand it to your Dad and ask if he's knows why the stocks tanked and the metals rose. Presuming your father's a good father, he'll either have an explanation or he'll start looking for one.

tiger | 07-04-2008 02:00 PM
Re: why buy physical metals? (in practical terms) NO! It is for preserving wealth. Preserving buying power. It is to be used once we get through the currency crash. If twenty ounces of gold will buy a decent new car today, then it (most likely) will once we're into the Amero or whatever they roll out on us next. Quote:
Originally Posted by byrdman (Post 1172492) Do we use it for trading for goods?

Irons | 07-04-2008 07:47 PM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Twisted Avatar (Post 1176564) That is nasty bombshell that NO ONE is taking about: Property taxes. As the local town economy starts to sink they are blow the taxes skyhigh to stave off bankrupty and snap the financial spine of those who did take part in the maddness (sociolism at it finest). I half way live with one foot out the door right now.......cause when it happens I am gonna throw this baby right back to them jump in my car with my PM's I will not spend my horde trying to hold on to loosing propersition When you get out west.....tell them you have a cousin from Jersey coming to set up shop with ya:smile: T
You will always be welcome my Friend.usflag I hope you like Wyoming!

Saul Mine | 07-05-2008 12:22 AM
Re: why buy physical metals? (in practical terms) Quote:
Thanks TA, your one intense dude! (or girl?? best not to assume things)
A dude is an unmarried man. A married man is subdude! :D

Dude | 07-05-2008 12:38 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Saul Mine (Post 1177307) A dude is an unmarried man. A married man is subdude! :D
Should I change my name? Just picked up the wife (married 24 years) at the airport. She went to Greece and Italy. I get 2 fishing weeks in return.

Horn | 07-05-2008 12:39 AM
Re: why buy physical metals? (in practical terms) Gold, in practical terms - is the best store of value because it takes up less space then a stack of bills. Just tell your dad he needs to make room for you to grow.:smile:

Gold Rules | 07-05-2008 01:22 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by Irons (Post 1175516) You bring up great points I hope folks will read. Heres another senario: We have a decent amount of real estate my wife and I bought on our own, not Mc Mansions just 2 nice houses with one in a resort area with 21 acres. Now for the killer, they are in Michigan and you cant sell a house here not to mention a summer home to save your ass. One is paid off and the other is 3/4 paid off but that makes no difference, they cannot be sold as there are no buyers and I'm not going to give them away.I will burn them first. Michigans current canaidian governer's best idea to solve the problem is to raise property taxes and any other tax on the handful of people who still have a job. Michigan was in a death spiral 2 years ago, now its in a straight line plunge. I wish I diden't have paid off property, I wish I would have sucked the equity off all of it, saved it, and never botherd doing the "right thing" and just cashed out as much as I could. Go out west, burn my SS card and claim to be from south america.
Irons my friend ..........we ( Michigan ) are the canary in the mine shaft & we are toast. Jenny dont have a clue ( Liberal Kanadian pus gutted wanker scum ) & the liberal dem - O - craps in Macomb county are going to vote themselves out of the equity they have left in their house's they will only Bitch when they loose their house for back taxes......( but then again these are liberal POS auto workers who think their $35 an hour jobs are comming back to the US of A ....MORONS) deserve what befalls them............ Like one of them said to me " ya need to raise your prices to get MORE work " I guess it works for the little 3 but in the REAL world it dont WORK UAW you SUCK

Keef | 07-05-2008 01:37 AM
Re: why buy physical metals? (in practical terms) Quote:
Originally Posted by wille (Post 1172701) J Siclairs last interview he stated silver is goin to 30$ and thats about it-- I watched it and thats what he said. So go figure. Also theres one guy whos a retired coin retailer Kall Gronvall , you should hear what he has to say-- he has a website and has done goldseek and Byte radio. He makes a good point. My coin dealer says 200 is in the bag and possible 1000$ silver. But actually where ya gonna store your wealth? no brainer no matter what pms do eventually.... :rose:
I've always felt we would see a high in silver of $265. Don't ask me why, for you people who have read my posts over the years are familiar with what I call "premonition". Don't ask me what the rest of the financial landscape will look like at that time in the future. Inflation/deflation=the same result. Empty stores with few expensive items. What seems 'deflationary' to us is just loss of middle class status, welcome to the rest of the struggling world my fellow american flunkies, ie uncle sam, u just lost ur platinum charge card and will be audited soon.. who will be the weakest link? the sheep, the old, the weak. there are too many of them to count. Gpond's great "Money Grab" is here. I just had another long talk with my sister to dump a small portion of her stock portfolio and buy physical gold. She wants to do it, everyone else around her talks her out of it.. It's like people are brain dead today and we are living in some stephen king novel.. we're broke.

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