A useful exercise is to read some books on how various people acquired their wealth. I became particularly interested in reading about successful investors and how they made their money. Many became very wealthy by ignoring conventional wisdom. An example is to carefully examine what the government is, and is not, telling you. If you believe that the current CPI data reflects the true rate of inflation, it is obvious that you have not done your homework. Don't you find it curious that the core inflation rate is reported to be so low, while yesterday, the Fed chairman stated that they were not lowering rates because they feared the return of inflation? Either we have high inflation or we don't. How can we believe this false CPI data when prices are rising all around us? Millions of Americans are wondering why they are finding it so difficult to make ends meet, losing their homes, up to their ears in credit card debt, etc. The reason is that inflation is eating up their money while they struggle to get by. As investors in precious metals, we all understand this, while most Americans haven't got a clue. Shame on our government for concealing what the true rate of inflation really is, and for continuing to run up massive budget deficits which cause our fiat currency to errode in value every day. You owe it to your friends and family to enlighten them so that they will follow your example and invest in silver. SS
You are correct but most people listen to the tube and as their Supreme leader tells them Al Quaida is a threat to them they believe it. Once his polls roll down hill and he needs to boost his support for something you see a new Bin Laden video appearing on the news. But unfortunately most people will give up their freedoms for a promise of security. That is why IMO this was all orchestrated. First ease the money as Greenspan has done for several years and as so much paper began to float around and everyone was spending because loans were easy and life was good, the FED starts to tighten the money supply to the public. If they cause a major recession if not a depression people will be desperate and will accept whatever BS the government will throw at them. Be it North American Union, Amero or replacement of constitution with something else. The FED couldn't possibly be that stupid not to foresee what is happening today just like when they allowed so many of the jobs to leave NA continent for red China without possibly thinking that this may hurt them down the road. I firmly believe that what is happening is all by design to benefit the few and screw the masses. Congress won't do nothing as most are bought and paid for - passing the FED bill in 1913 is just one example of this.
Man, you are hundreds of times more likely to die in an automobile accident than from an act of terrorism.
I wrote my CONgress critters just today to tell them all I was sick and tired of seeing my "unalienable rights" being alienated and that I had never made the decision to accept their pandering offer of security that they cannot deliver at any cost.
Ben Franklin nailed it. Those that make that dubious trade, rights for the promise of security, deserve neither and whole heaps of it.
"You guys in states have to check the patriot act if it's safe to hold bullion in the safety deposit boxes as I've read somewheres that might not be all that safe."
They're not safe. Especially not in California where they'll seize the boxes after three years if the boxes have been unvistited. They're supposed to try to locate the owners, but of course little effort is made. Instead the California comptroller seizes the contents, shreds unsellable documents et voila! It's a big source of income for the state. The victims have to wrangle with rules and lawyers and they have a tough time getting much back. And if someone's relative dies without a will, forget about it. The government immediately seizes the contents of the boxes and sells it right way.
I wouldn't trust banks or any arm of the government with safety deposit boxes. Personal property is under attack. It started with the Supreme Court ruling of eminent domain. The people can't really own anything--including their homes and cars. Everything is subject to confiscatory tax hikes. Free speech is under attack through socialist PC code and "hate speech" laws. Next they'll come after guns and gold.
Before looking at where to store bullion internationally there may be some who would rather have their bullion closer to home. This may suit those with smaller amounts of gold bullion or for those �who hope for the best but are prepared for the worst� and want to be prepared for a meltdown scenario of a currency collapse and hyperinflation and want to own real money, gold and silver, that will retain or increase in value. It is important to have at least some bullion in one�s possession. They could consider a small local branch of a state, national or international bank providing the bank is highly solvent and or has a high credit rating from one of the international ratings agencies (which is not too many!). Knowing and trusting the local bank manager is also very advantageous. Some fear that in the event of a systemic crisis then deposit boxes in banks and financial institutions could be sealed and the bullion confiscated as was done under the Gold Confiscation Act of 1933 at the height of the Great Depression. It seems likely that in the event of such a crisis many bullion dealers pool accounts and depositories in the US might have their gold confiscated and might have their assets nationalized.
Al Quaida is a different issue all together. It's hard to guess what they will do. Bush might need some help in votes or get people in line so who knows if there will be another 9/11 before the elections or will there be another war. There is a lot of negative ifs right now from USD collapsing to another war to major recession to markets collapsing. Best thing IMO is to be out of debt completely and have bullion on hand. You guys in states have to check the patriot act if it's safe to hold bullion in the safety deposit boxes as I've read somewheres that might not be all that safe. Either way next 15 months will be interesting to see.
your really taking a leap of faith and not looking at the entire scope of goods. Of course Bernanke is "hawkish" just as Greenspan also portrayed concern over inflation. Why? Do you think it was because the inflation was looming and running out of control? No! The Fed's hawkish stance is simply rhetoric to try and keep the dollar propped up. By insinuaing inflationary concerns, that alludes to the possibility of FED tightening which provides support for US greenback. But what did Greenspan do after 2000? He dropped Fed Funds rate down to 1%. Ok, with such unprecedented easing of monetary policy, what did inflation do? Nothing.
Stop reading Jason Hommel's garbage about Silver going to $8000 / oz under hyperinflationary scenario. The biggest decline in home value prices and wipe out of trillions of dollars of stock market wealth is not going to result in an inflationary environment.
But what did Greenspan do after 2000? He dropped Fed Funds rate down to 1%. Ok, with such unprecedented easing of monetary policy, what did inflation do? Nothing.
NOTHING!!!! WHAT THE HELL ARE YOU TALKING ABOUT.
The value of my home tripled thanks to that 1% rate. Oil went from $15 a barrel to $70+ a barrel thanks to low rates.
Gold had gone from 300oz to 700 an oz. Every other commodity has just about tripled. MY property taxes have gone up about 70%. I don't know I guess I'm imiagining inflation. The fed is right there has only been 2% inflation these last six years....
"inflation is always and everywhere a monetary phenomenon."
The money supply in the US is growing at a 15% annual rate. That is the growth of the growth. 15% is the acceleration of the money supply.
"By insinuaing inflationary concerns, that alludes to the possibility of FED tightening which provides support for US greenback. But what did Greenspan do after 2000? He dropped Fed Funds rate down to 1%. Ok, with such unprecedented easing of monetary policy, what did inflation do? Nothing."
>>>>> WHAT??? Inflation did NOTHING??? If that's what happened then I just can't understand why the cost of living has gone up so much!!! Maybe it's just my imagination! How come it seems like I have to pay more dollars for my basic necessities... food, gasoline, electricity.... Geez, and I thought that was what they meant by inflation.
Looking at some prices that have gone down and apparel is the major one. Didn't they allow more Chinese apparel goods in to the country without terriffs a year back or so or increased the amount of them coming in without special taxes? Could be why.
As for transportation the car dealers might be taking in lower profits than the manufacturers just to move the cars off their lots so the inflation seems lower there and if that's so that can only go so long before they start shutting shop or increase prices. Less advertising keeps more cash in their pockets as well which I've been hearing that there isn't as many dealership advertising anymore. And public transportation in a mystery to me how that went down - what exactly constitutes that?
IT and personal computers are down, which for most part aren't made in USA but in countries that peg or continue to keep their currencies from rising.
There is a lot of data to look at and one can't see through it all easily but would be nice to compare CPI of US made only and Foreign made only and then combined CPI to see how the final number is affected by each but also that would create much different calculations and so forth.