Do you physically own any gold or silver?

imkruzen

imkruzen

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Gold has moved from $255.00 in 1999 to $1,200.00 in 11 years when there was no more than 3% inflation. With Gov. around the world printing money like confetti, people ( and CB's) are turning to gold to protect themselves against the dollar bubble which is bursting and could end in hyperinflation as a result.
Do you have insurance on paper money?

Some predictions by well known analysts:

Higher than $10,000

Mike Maloney: $15,000;
Howard Katz: $14,000;
Silver-Coin-Investor.com: $7,000-$14,000;
Jim Rickards: $4,000 – $11,000
Roland Watson: $10,800 (in our lifetime);

$5,001 – $10,000

Arnold Bock: $10,000 (by 2012);
Porter Stansberry: $10,000 (by 2012);
Tom Fischer: $10,000;
Shayne McGuire: $10,000;
Eric Hommelberg: $10,000;
Gerald Celente: $6,000 – $10,000;
Peter Schiff: $5,000 – $10,000 (in 5 to 10 years);
Egon von Greyerz: $5,000 – $10,000;
Patrick Kerr: $5,000 – $10,000 (by 2011);
Peter Millar: $5,000 – $10,000;
Alf Field: $4,250 – $10,000;
Jeff Nielson: $3,000 – $10,000;
Dennis van Ek: $9,000 (by 2015);
James Turk: $8,000 (by 2015);
Joseph Russo: $7,000 – $8,000;
David Petch; $6,000 - $$8,000;
Michael Rozeff: $2,865 – $7,151;
Martin Murenbeeld: $3,100 – $7,000;
Dylan Grice: $6,300;
Murray Sabrin: $6,153;
Harry Schultz: $6,000;
Paul van Edeen: $6,000;
Paul Brodsky/Lee Quaintance: $3,000 – $6,000;

$5,000

David Rosenberg: $5,000;
Martin Hutchinson: $5,000 (by end of 2010);
Doug Casey: $5,000;
Peter Cooper: $5,000;
Robert McEwen: $5,000;
Martin Armstrong: $5,000 (by 2016);
Peter Krauth: $5,000;
Tim Iacono: $5,000 (by 2017);
 
I sold all my gold when it jumped from $35 a troy oz to ~ $850 back in the 80's LOL!! thought I dun good, should go pan some more I guess :)
 
That is not bad.. basically 15% per year return compounded.

But according to Warren Buffet:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
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I also heard Kevin O'Leary talking on the radio about how he things gold has reached its short term maximum. He thinks the earnings season is going to show a lot of positive earnings despite a lack of jobs - indicating an increase in productivity and will cause the stock market to rebound - which will lower the value of gold.

I don't currently own any gold, but I might consider it some day. I am not sure that I believe the estimates in the 10s of thousands... that would indicate a total breakdown of the US$ and Euro, and I think we'll have far worse problems if that happens. USA would likely rather take out the world in a World War 3 than go broke and lose its position as most powerful.
 
Diesel said:
But according to Warren Buffet
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According to Greenspan:

It may surprise more than a few gold devotees to learn they have an ideological friend in none other than Federal Reserve Board chairman Alan Greenspan. Starting in the 1950s, in fact, Greenspan was a stalwart member of Ayn Rand's intellectual inner circle. A self-designated "objectivist", Rand preached a strongly libertarian view, applying it to politics and economics, as well as to religion and popular culture. Under her influence, Greenspan wrote for the first issue of what was to become the widely-circulated Objectivist Newsletter. When Gerald Ford appointed him to the Council of Economic Advisors, Greenspan invited Rand to his swearing-in ceremony. He even attended her funeral in 1982.
In 1967, Rand published her non-fiction book, Capitalism, the Unknown Ideal. In it, she included Gold and Economic Freedom, the essay by Alan Greenspan which appears below. Drawing heavily from Murray Rothbard's much longer The Mystery of Banking, Greenspan argues persuasively in favor of a gold standard and against the concept of a central bank.
Can this be the same Alan Greenspan who today chairs the most important central bank of them all? Again, you might be surprised. R.W. Bradford writes in Liberty magazine that, as Fed chairman, "Greenspan (once) recommended to a Senate committee that all economic regulations should have fixed lifespans. Senator Paul Sarbanes (D-Md.) accused him of 'playing with fire, or indeed throwing gasoline on the fire,' and asked him whether he favored a similar provision in the Fed's authorization. Greenspan coolly answered that he did. Do you actually mean, demanded the senator, that the Fed 'should cease to function unless affirmatively continued?' 'That is correct, sir,' Greenspan responded."

http://www.usagold.com/gildedopinion/greenspan.html

Every currency that man created has failed, why? Because paper is paper, has no value, doesn't store wealth, can be created out of thin air and is accepted anywhere in the world, a true global currency. If labour or material is required it will retain value. Gold is not an I.O.U, has no liability and has been valued for over 4000 yrs. The only currency that has lasted. Gold is a barometer of how well paper is doing. Gov have a monopoly on counterfeiting and Ponzi schemes.
There is no such thing as a jobless recovery. The US consumer contributed 70% to GDP growth in the US of Whatever. If you believe that there are green shoot still spouting ask the 34 million Amerikans who are using food stamps and or live in tents. Unemployment in Michigan is 65% There are 40 states that are on the brink of bankruptcy. The Fed is paying unemployment benefits for the States that have no money in their budget to pay UI. Stock market rally, don't hold your breath, I'd be going short before I'd go long, the inflation adjusted DOW hasn't moved up in over ten years. Stop watching the talking heads on F-TV.
 
Kinda curious though is there an easy answer as to why im seeing so many adds recently about buying gold and getting large cheques for it. Is this even true? Do you actually get a lot in return? or is it some scam?
 
gixxer_flexx said:
Kinda curious though is there an easy answer as to why im seeing so many adds recently about buying gold and getting large cheques for it. Is this even true? Do you actually get a lot in return? or is it some scam?
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These Guys sell it to the Gov. and recieve a 25% premium over spot. I don't know what they pay per gram, but you could call them and ask. It should be over:
USD
$39.00/gram for 24kt.
$29 for 18kt.
$19.50 for 12kt.
$16.40 for 10kt.

The average person with limited knowledge of commodity markets and economic trends think "WOW, I got so much for it" Being ignorant to what it's really worth they are happy and that's all that really counts. Only later will they realize they got scammed. These Guys are buyers because they know that the price is going up not down, they ain't stupid, they're there to make money. While the lemmings hand them the gold.

I myself believe that $5,000/oz should be atainable, but then when the herd of sheeple catch on that their fiat paper is on fire, the price has no limits. Remember that an inflation adjust price of the last peek of $850 is equal to $2,300 in todays money. There's a whole lotta paper printed since then! Unpayable debts, which hyper-inflation or monetary collapse will fix. So that paper will be looking for a new home. Fiat paper money far out paced the production of gold which has been declining for the last 3 or 4 years. China has now officially taken the lime light from South Africa as the largest producer of gold.

When LTCM went under and the Gov papered it over the stock market was the beneficiary of the liquidity. When tech stocks were showing P/E ratios of 5000, I bailed and moved into PMs. That was Nov 1999 and the tech bubble blew in Mar. 2000. So here I sit since $255. gold. In 1997 NovaGold was $0.13 a share. SeaBridge Gold was $2.75 when I bought it. I buy what nobody likes and sell what everybody wants. Opposite of what the Lemmings are doing. They are generally slow to catch on, too much F-TV and Cramer, what a clown that guy is. Yes Amerika is being dumbed down. Listening to their master, the boob tube. Ask an Amerikan why they are in Afganistan, He'll start his rant on freedom like he's an Afgan hostage or prisoner. If he says big Al Q then ask why the US Gov supported the Taliban in the 80's against Russia? People have putty for brains and the Gov moulds it with the news.
 
DemonPig said:
I'd rather buy bikes then gold. Maybe not the best investment but so much more fun.

BTW, 3% - are you talking yearly? Cause from 1999 to 2010, total inflation was a bout 25% which still makes for a great deal.
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The real figures are actually higher than that for the decade, Yearly CPI figures fluctuated, I just calculated in my mind from what I read in the GOV stats. whch are BS.
Bikes are not an investment. Investments retain your wealth or produce a gain. In 1929 a Bugatti sold for $15,000.00 then in 1932 you could buy one for 5 bucks. Wages were $0.10 a day.
 
Diesel said:
That is not bad.. basically 15% per year return compounded.

But according to Warren Buffet:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
Click to expand...
Click to expand...

Warren Buffet is somewhat mistaken. Gold has many practical purposes, mostly in electronics and aeronautics.
 
Yep. Couple oz of gold and I have almost 300 oz of silver. I am still buying.
The gold I have is Johnson Matthey brand and my silver is mostly Austrailan silver bullion coins and some 10 oz A-Mark cars. I also have some silver eagles in 16 to 8 oz sizes.
 
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Buying gold is like paying your fat friend to sit on your couch for $50 an hour.
 
BLUE_KAWI said:
Yep. Couple oz of gold and I have almost 300 oz of silver. I am still buying.
The gold I have is Johnson Matthey brand and my silver is mostly Austrailan silver bullion coins and some 10 oz A-Mark cars. I also have some silver eagles in 16 to 8 oz sizes.
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you'll be the richest guy in the world when this BP bubble/tsunami explosion thing happens and there is no money :D
 
Where do you guys buy physical gold/silver? I thought the banks take quite a markup, and I'd be reluctant to buy anything from 'Bubba's Ye Olde Gold Shoppe'.
 
I do not own gold or silver nor will I purchase any in the near future.

First, I simply can't afford to invest in anything right now while I'm working my better half and I through school.

Secondly, I hear often about how Gold/Silver is the only safe currency as government notes can diminish. If currency collapses, we have much bigger problems and no amount of gold or silver is going to help. When the average population can't afford to eat, anarchy will break out. A severely starving man will pay 300 gold bars for a loaf of bread no question.
 
imkruzen said:
Some predictions by well known analysts:

Higher than $10,000

Mike Maloney: $15,000;
Howard Katz: $14,000;
Silver-Coin-Investor.com: $7,000-$14,000;
Jim Rickards: $4,000 – $11,000
Roland Watson: $10,800 (in our lifetime);

$5,001 – $10,000

Arnold Bock: $10,000 (by 2012);
Porter Stansberry: $10,000 (by 2012);
Tom Fischer: $10,000;
Shayne McGuire: $10,000;
Eric Hommelberg: $10,000;
Gerald Celente: $6,000 – $10,000;
Peter Schiff: $5,000 – $10,000 (in 5 to 10 years);
Egon von Greyerz: $5,000 – $10,000;
Patrick Kerr: $5,000 – $10,000 (by 2011);
Peter Millar: $5,000 – $10,000;
Alf Field: $4,250 – $10,000;
Jeff Nielson: $3,000 – $10,000;
Dennis van Ek: $9,000 (by 2015);
James Turk: $8,000 (by 2015);
Joseph Russo: $7,000 – $8,000;
David Petch; $6,000 - $$8,000;
Michael Rozeff: $2,865 – $7,151;
Martin Murenbeeld: $3,100 – $7,000;
Dylan Grice: $6,300;
Murray Sabrin: $6,153;
Harry Schultz: $6,000;
Paul van Edeen: $6,000;
Paul Brodsky/Lee Quaintance: $3,000 – $6,000;

$5,000

David Rosenberg: $5,000;
Martin Hutchinson: $5,000 (by end of 2010);
Doug Casey: $5,000;
Peter Cooper: $5,000;
Robert McEwen: $5,000;
Martin Armstrong: $5,000 (by 2016);
Peter Krauth: $5,000;
Tim Iacono: $5,000 (by 2017);
Click to expand...

Sounds like an orchestrated effort to pump this bubble for all its got.
 
Buy the options, leverage with a few calls on the GLD ETF and cash in on the capital gains in a TFSA.

That's been my cash cow. Technical analysis suggests that the price is at a low risk entry opportunity, that is, we are at a point where there is limited projected downside versus expected gains.

Take the cash and expand your portfolio!

If Armageddon breaks loose your gold won't do anything. It will be the item that will suffer the highest inflation, as people scramble to unload their gold for food and water, etc, the price of goods in the yellow metal will only increase, proportionally decreasing your gold value. The hungrier you get, the faster the rate of depreciation.

Armageddon would wipe out wealth in great numbers, and sadly, based on a fractional reserve system, it's inevitable.

This is like the "in before the lock" thread term, get in and enjoy life before it's over.

Besides, how much can the average family store in gold on an annual basis? (Indians are an exception, referring to N.Americans) How long would that last in a post-system environment? How will you divide your 1oz brick to pay for smaller items and how many more bricks will that service cost?

Get $.
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