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Silver Wheaton Corp. Message Board

  • sharpie3444 sharpie3444 Nov 19, 2013 10:26 AM Flag

    Jim Rodgers

    JR: Yes, I’ve owned gold for many years, I’ve never sold any gold and I can’t imagine I ever will sell gold in my life because it is somewhat of an insurance policy. I hope that my daughters own my gold someday, I mean I owned gold, I’ve never sold any gold and if gold comes down and I expect it to go down, doesn’t mean it will, I’ll buy more. I’m certainly not going to sell.

    “Everybody should own some precious metals as an insurance policy. So if they don’t have any right now, I would urge them to go buy something.”

    BGG: Right. So what advice would you give someone who as of yet has no precious metals in their portfolio right now?

    JR: Well, everybody should own some precious metals as an insurance policy. So if they don’t have any right now, I would urge them to go buy something, buy themselves a gold coin if nothing else, and see that it’s not going to hurt. It won’t hurt you to buy the first gold coin, the first silver coin, and from that you start accumulating as your own situation dictates.

    First, do your homework, don’t buy gold because you heard me say it or even because you hear you say it. But if people don’t own they should start after they have done their homework. And then they will probably, if they do their homework, most people will then realize, “Oh my gosh, I better have insurance, and gold and silver may get me through serious problems ahead.”

    BGG: Yeah. How do you feel about silver? Do you favor silver over gold? How do you feel?

    JR: Well, silver is historically down 60% from its all-time highs, so yes, I would prefer silver at the moment because gold is down only what, 30 or 40% from its all-time highs.

    BGG: Well, thank you so much for talking with me today. I think we will leave it there. Thank you so much, Jim Rogers

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    • Gold is totally useless as an "insurance policy". Insurance against what, total financial collapse? What happens to the value of gold when everyone decides to dump their hoard on the market all at once? Do you know what WILL be a good insurance policy? Food, clean water, ammunition, cigarettes, soap, gasoline, salt, spices, toilet paper, eggs, flour, corn meal, basic food-stuffs. That's how most Russians got by under the old Soviet Union. There were shortages of everything, if you wanted something, you went to a black market to trade.

      You could trade a box of shotgun shells for a week's worth of food; a carton of cigarettes for 2-3 live egg-laying chickens; one pack of cigarettes get's you a day's worth of food & clean water. Gold has value as a trading vehicle as long as there are regulated markets, otherwise, it's useless. On the other hand (pardon the pun) there's no decent substitute for toilet paper unless you want to go back to the sponge-on-a-stick used by the ancient Romans.

      • 1 Reply to we_are_borg
      • I have a two year's of TP stocked up. The problem with hoarding things, is that first it's difficult to pack up and move if you have to. A few coins will definitely bribe the guards. But when no one has anything, I trust you will wish you had a few silver coins. On a survival basis you are absolute right, however when things quite down, money will find it's path again.

        Sentiment: Hold

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