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  • floridadave2001 floridadave2001 Feb 8, 2013 9:09 PM Flag

    A good lesson on why people should own some physical gold and silver

     

    Venezuela devalued their currency by 46% today which means that a Venezuelan who had 100K in Venezuelan Bolivars yesterday now has 54K Bolivars. His neighbor had his 100K Bolivars worth of physical gold yesterday and he has 150K Bolivars today. Every central bank in the world is going to have to do it whether it be gradual like Japan, the EU, or US thru QE or all at once like Venezuela did so think about it before it's too late.

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    • Yesterday all we heard about was linkedin corp. The stock sells for $124.09 a share, its pe is 970.84 and its eps is 0.16. Nothing has changed in the markets. The same games are being played by the same people. When all the new cash is all gone and the piggy bank is empty we will either see another bailout or like you say, the price of gold and silver will skyrocket. We just have to wait and see.

    • How Precious is Gold in Zimbabwe-Please watch.

    • In big bear markets like the past 10 years, typically the DOW to Gold ration hits 1:1
      So at the end of the current bull market, I suspect gold will hit $6-8000........
      My gold and silver up almost 600% since 2000..........my stocks are flat at best.

      Sentiment: Sell

    • You can correlate this to all commodites. People are asking how can the price of oil be going up in this lousy Obama economy. It is simple...the dollar just plain buys less of it. When the Fed floods printed money out the value of it drops and it takes more of it to buy the same thing it did previously. You want to own metals, oil, and farm land in that kind of environment.

    • drstone3@bellsouth.net drstone3 Feb 9, 2013 9:50 AM Flag

      Oh so true. But libs to dumb to understand.

      • 1 Reply to drstone3
      • Zimbabwe mining fees have been raised by up to 5,000 percent, a report in The Sunday Mail said.

        According to Statutory Instrument 11 of 2012, published on 27 January 2012, registration of diamond claims has increased from US$1 million to US$5 million with a new ground rental fee of US$3,000 per hectare per year.

        Application fee for prospective coal investors has been increased from US$5,000 to US$100,000, while the registration or renewal fees is set at US$500,000.



        In addition, there is now a new ground rental fee of US$100 per hectare.

        Application fees for platinum claims — for both ordinary and special prospectors — is now pegged at US$500 000, up from US$200.

        Application fees for platinum claims — for both ordinary and special prospectors — is now pegged at US$500 000, up from US$200.
        However, registration fees for the metal have spiked from US$500 to US$2,5 million.

        There has also been a raft of increases in licences for dealers in the mining sector as well.

        A licence to deal in precious stones (cutting and polishing) and a gold-buying licence now attracts US$100 000 and US$5 000, up from US$20,000 and US$2,500 in that order.

        Furthermore, a gold jewellery permit now attracts a US$2,000 fee from US$1,000, while a custom milling licence has been adjusted from US$2,000 to US$8,000.

    • drstone3@bellsouth.net drstone3 Feb 9, 2013 5:21 AM Flag

      A good lesson on why people should own some physical gold and silver is because Obama deficit spending is and printing money like a crazy fool is making the Dollar worth less daily. Now that is a fact you dumb liberals.

    • The American dollar of 1900, as a base, had a buying power a dollar. The dollar of 2009, has the buying power of five cents, compared to that of 1900. Most of that loss came after 1965 and the creation of the Great Society.

    • A silver dime in 1955 bought you a gallon of gas.
      That silver dime today will buy you a gallon of gas.
      Our money will erode at light speed with the current government.
      Own gold, silver, commodities, farm land............

      Sentiment: Sell

 
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