Who on this board has sold off their possessions and mortgaged their house to buy it? Oh...you did it already when gold was closing in on $1000. Here, read this article I posted on the SLV board:
..How many of you would bet your life savings or have mortgaged your house that gold snd silver will go up from todays levels. If it was such a sure thing, we the little guy would have been left behind long ago. Look at the Hunt Bros. When silver got to $50 an ounce, the exchange members who were short just changed the rules overnight and screwed them out of over 3.5 billion dolars. Dont you think the hunt's could have hired lawyers to sue the exchanges? Why didnt they? So, my point is...............if the exchanges want to screw over the big guys...they "might" be able to do it to anyone...especially if its in the govt's best interest. I mean look what silver sunk down to after they destroyed the hunt bros. Even with manipulation it never regained its fair price. Ever!
Im not saying it will happen again, but all of our posts are just opinions...paper.more worthless than our american money which by the way in my opinion is backed indirectly by something more precious than gold. Oil! They trade oil in US dollars and it is in arab and all oil producing countries interests to keep the US dollar from collapsing. And please.................we are not converting to the euro to trade oil! Not for another 15-20 years anyway. They are having thier own inflaton problems now. And truth be told, by then China will be so strong they might open their own oil exchange and trade oil in their dollars. the move is to buy the yuan! It almost has to go up as the chinese admit they are holding it down!
So guys.............we are all under water with all the gold and silver stocks we have been buying all this past year. So lets just be adults and admit we really dont know for sure what is going to happen. And as an aside, its a shame there isnt one patriot here who is rooting for a stronger dollar. DO ALL OF YOU KNOW WHAT A COLLAPSING DOLLAR COULD DOP TO AMERICAN SECURITY! Lets pray it never collapses or we will go the way of the roman empire. It might happen but lets wait till we are all dead, ok guys? Dont rush things by rooting for a US dollar collapse. Just imagining the rioting and looting that would go on within our own borders is scary enough. Did anyone here ever bother to serve in our armed forces? Me....I am still proud to be an american. I do own GLD and also PAAS and GG. But to hell with gold if it takes away the future of our own children and the children of other countries we now help to protect.
Does anyone remember how Hitler came to power? He waited for Germanys dollar to collapse and then promised them the moon. The next anti-christ or monsterous dictator may appear here in the US under those conditions as well. I will give up my gold and gold stocks for the freedom of having a bullet free body. But yeah I admit, I may buy a few silver coins to hide someplace just in case. But.........we if we ever have to start trading metals because our dollar is so weak, we might be dead anyway. Hiel Hitler! Not!
Oh STFU with that patriotic garbage. Everybody here knows you're a paid govt shill, MINCE85.
America is the terror and torture capitol of the world and deserves to crumble. THINK, you idiot.
Leibovit on video here from CIMA along with Greenspan think we will go back to the Gold Standard and pay off the national debt with it. He's called it right up to this point with the dips. He saying gold over $2600.
Our dollar is backed by conventional military might...Mainly our Air Force.....
and if that isn't enough we have the marines,army,navy and 10,000 nuclear bombs.
That is all it is backed by...
this is an interesting time in history..the first time that the world power who economically is no longer cutting it... actually has the power to BLOW UP THE WORLD.
I would say it is like all the kids on your block start a baseball team and the biggest toughest kid wants to pitch...He pitches great for the first two innings but then can no longer hit the strike zone....well that kid has a temper and none of the other kids have the balls to tell him that he has to change positions.
>this is an interesting time in history..the first time that the world power who economically is no longer cutting it... actually has the power to BLOW UP THE WORLD.
I would make the case that adolf might not have been such a smashing hit in the 1933 elections if Germany had not been in serious economic trouble. Germany never really recovered from the economic damage of WW I. The treaty of Versailles required reparation payments which the Germans could not make - you might say they were bankrupt. The payments were to be made in gold (not fiat) and I read somewhere that German scientists were even trying to extract residual gold from ocean water.
Otherwise, you are on the right track; economic mayhem is very often accompanied by wars.
There is another reason why the military is part of the picture. The Saudis and some other Middle East oil producers depend on the US for protection. That may be the main reason why they are obliged to take dollars for the oil. OTH, the number of oil producing allies has been shrinking for almost eight years now.
1) Perhaps we should all drop gold/silver and invest in paper. Our government can't seem to print enough of it.
2) Speaking for myself, I am certainly a patriot, and I do not want to see my Country collapse, even if it means that I lose a few bucks on precious metals. However, it has unfortunately taken me too many years to realize that our politicians do not have our best interests in mind. I alone cannot undo what they have done and continue to do. Therefore, it is in my best interest as protector of my family to take the necessary precautions.
3) We don't know what is going to happen in a year. It is almost certainly a losing proposition to bet against our corrupt government. If that is true, then we who invested in GLD will most certainly lose. However, there are other countries that have fallen prey to our politicians, and I am going to guess that precious metals cannot be completely undone based upon that fact. So I will say again...we don't know what will happen. My opinion is to buy some gold and silver bullion so that you at least have options, no matter what your 'paper' loss might be.
4) Smart money, in my opinion, would also be somewhat invested in oil.
5) Regarding riots, I would suggest an investment in lead. To quote McQueen: "We deal in lead, friend."
6) A dollar collapse would not be the end of the world. I would entertain a dollar collapse if we permanently linked our new currency to a normalizing entity like gold or even population. This would engender a stronger US and I believe a better world. The business cycle of inflation-recession-inflation does not work indefinitely. Fiat-based systems all collapse sooner or later. The longer the wait, the tougher the collapse.
7) Regarding Hitler-types who would love to take control here, I pray that the recent ruling by the Supreme Court regarding the ability for the US citizenship to bear arms stays in full force so long as we exist. A "Hitler" will have a much more difficult time dealing with an armed and defense-ready populus. Our right to bear arms exists to protect ourselves from foreign invaders and an oppressive government. Certain members of our Supreme Court are obviously wise. They made the recent ruling for good reason. Look at the taxes you pay. Look what happens to you if you are caught speeding: you are literally arrested. What happens if you cannot afford the tax on your home (because of our tax and spend leadership--done for the purpose of control) and you do not leave: men with guns forcibly remove you, and you would be lucky if you did not end up in jail. Shall I continue? Feeling oppressed yet? Or has the corruption not gotten bad enough.
Times are not good, whatever we may wish for. People need to take care of themselves and their families first. Worry about your neighbors next, if they are worth it. Do what you think is best. If that means buying some of this stock, then do so. It is your freedom to own gold. If you would give up that freedom if it meant not having a bullet in your body, then you are already oppressed and already a subject of the next Hitler. I pity that mentality.
Don't get me wrong...I wish for freedom and peace. I just don't think we are headed toward that reality. The first step in correcting this is to bring our legal system back into natural law system from the civil law system to which we have changed. That is why Rome fell (or at least one major reason). But that is a new and much longer discussion. The bottom line: the US needs to change. I do not see any candidate that can institute the required change. Until our politicians change, take care of yourself first. God bless, and best of luck to all...with this stock and otherwise.
Good post. I thought Hillary would have been best.
Part of the problem is Politicians are not economists - far from it. And our economy is run by an elite group - the FED - the Treasury (do they have general accounting dept too, Medcare projections, Social Security prjections, and Miltary, etc)- and the IRS. The FED listens to business ... the rest to the Prez. H and S spends. So there is no getting away from Politics! LOL!
2nd problem is economists are not mathematicians. They probably flunked higher math is why they became economists. Not really true though. Most economists didn't take higher math. Economics is more fun for them.
What is not understood well is Golbal forces in this economic system. No one understands it. The dam is springing leaks and they don't know how to plug it up. Not that I do.
I think the world is getting tired of the US debt. That ripple effect has yet to happen and the dam will spring a couple more leaks.
The only thing I know to do is put my money in the best place I know. Gold seems to be it. I think I see why this current down 2 seek turn happened. We'll see.
About every 20 years the US economy hits a big bump in the road. This one looks really big. I think they are handling it as well as can be expected. Can't start a war we are there ... can't drop off a standard we have - none left ...
So go back on a gold standard? That has not been tried.
However has the most gold rules. US has 8,000 tons.
I don't know how they would get back on one with this much debt. If gold went up 30X that would do it for the US with gold backed bills ... the world might accept it at 10X current price too or lower.
They talk about an Amero too now ... but I suspect that will happen like the Rubel to Kopec if it does. The world will beg for an Amero ... I don't think Canada will buy it. I don't know.
Gold backed Amero ... let the dollar slide - gold go up - introduce the gold backed Amero ... Canada might go for that ...
Hail brave new world ...