Nothing will be safe in an economic collapse. Everything, and I mean everything will lose value. Noone will be able to afford to buy. Inflation will collapse bringing gold and everything down with it. This is what I was talking about today with a gold dealer. He is worried, as they need credit in order to keep up with demand. If his credit is cut-off, he won't be able to buy and sell like he is doing now. So, for those of you hoping for a collapse so Gold soars, think again. It might not be the result you were hoping for. I sold more of my physical gold today at unbelievable premiums. Something this good can't last forever, just like subprime.....
Look at the bright side, we ran the commodities down and at some time we'll get a chance to run em up,
I love this $hit...
and the really cool thing is the mean olé banks and financials that the heard loathes will be the GOLD of tomorrow, or it's really truly dooms day.
Q. Suppose the Gov. makes tax payer profits, shouldn't USD DXY trade higher, or should I say to a new all time high?
HAHAHAHA. The herd thinks they are going to allow that. Ya right. America gave up it's liberty back during the Great Depression when they got off the gold standard. The only thing that will get it back is a true American Revolution, but good luck coordinating that one when most people will think you are crazy for even attempting such a coupe. Creature From Jekyll Island anyone.....
Why is it noone ever answers my question. Who will buy your gold/silver when people have no jobs. When gold dealers are stretched for cash and can barely get supplies. When there is no credit and companies go out of business because they can't meet payroll. When you go to the store and they only take cash. Who will you sell your gold and silver to? You can argue selling overseas, but they are in the same mess we are in. USA was first-in and now the rest of the world is following. We did not decouple! If we did then yes, I'd say the US dollar was about to collapse, but it can't collapse as long as Europe is in a rate cutting mode. Remember the dollar index is made up of 58Z% EURO. So what happens in Europe affects the dollar the most....
ill attempt. the person with no job.no goods. he is plain fukced.
person with goods,will accept dollars-what ever value they have. as in the wiemar republic..(look it up) it may take 1000000 dollars to buy a pack of cigs.
doubt that? look up argentina and zimbabwe.
gold. in that time of financial crisis...will be acceptable barter. of course their will be negotiation...as is the cause in all 3rd world countries each and every day. no price is fixed. depends on the needs of buyer and seller.
now are you looking for a sugar coated-sure fire- rate that will be? no body knows..as nobody knew- what their currency was worth until real crisis hit. i tell you...gold will get you food mate....but 10 dollars wont.
this is the scenerio people envision.
that is a complete breakdown.
I DONT ENVISION THAT HAPPENS...but its a dark option.
i envision...a slow uptick of constant inflation...as it has been for gas-food in the last 4 years. slow death, until a massive panic-and or catastrophe. the rot is not deep enough.
but--if you see more of this GM-F chapt 11 crapola....guess what...
europe is in worse shape than we are. the average folk there....its really bad. if you dont believe..or in denial...take a trip yourself. i hear it from RELATIVES!!!!!!!!!!!!!! SUFFERING inflation. they simply dont make enough euro to pay for things they need. BASICS. NOT FLAT SCREEN TV-LAPTOP-HOTROD CARS-SUPERBIKES-LATEST CLOTHES.
THE dollar is not ready to collapse. not yet. dont panic.
it is prudent to have security.
right now,im staying in a 3rd word country. let me tell you!!!!!!!!!!!!!!!!! and listen closely....FOOD IS HIGH HERE. HIGH PRICED. same or higher than the states. i dont know how people are making it. so guess what, they eat RICE. and its damn poor. damn poor.
that can happen to the stars and stripes.
in closing, thank your-my gvt. wars-foreign policies-and economic plunder-social sytems for screwing the country. ADD IN HOUSING SCAM...WAAALLLAAA.......ITS A CATASTROPHE.
TOMMOROW while driving to work, eyeball that 320lb heffer next to you in that SUV..and say--this wont last.
The best investment is probably food storage and a gun. Just look at what is happening in Iceland. The store shelves are going empty.
But if you want to stay in the market spit between GLD and Inflation protected GOV securities. The profit trade these days seems to be buy the big dips and sell the rallys. Have fun.
Exactly. People who have gold in Iceland can't find any buyers because noone got money to buy. They have to sell overseas and gold prices are barely hanging on to it's gains. I look at silver, platinum, and paladium. Those 3 metals have been obliterated lately and the only one holding on to it's gains is gold, but if the dollar continues to gain value and deflation continues, then gold will have to suffer. I don't want to wake up one day and see the EURO take another huge dip lower on a rate cut from the ECB and gold down even more. Historically demand is always at it's highest when the prices are at their highest as well. Now is the time to sell. The premiums are unreal! Gold is used to hedge against inflation, but where is the inflation? Commodities are falling like a rock and will fall further. Eventually gold will suffer....
You are presenting curcular arguments.
Gold has been around as a currency for over 2000 years. You can argue that it is not a currency now, but the truth is still that it is being accumulated as an item of great value.
If everything collapses, then what do you think a piece of paper will buy for you? Anything more or less than gold or silver? I think I would take my chances with a hard asset. If everything collapses as you say, there will not be a financial system. The only things of worth will be your family, your health, and your ability to provide and survive.
So what you are really selling here is despair. I am not buying. We will not be living the high life in the US any longer. That doesn't mean we roll over or not do the things that we think are best.
But u gotta admit to the general inverse quality to owning gold. vs paper equity that is. Thats been working like clockwork for at least a few years now. How does one explain that son?
Actually I rather have dollar if the dollar is appreciating because gold and silver can not be taken to a store and exchanged for goods. Also, if gold dealers can't get the cash to buy your gold and silver, then who will you sell it to? Who will have the cash to buy during an economic collapse?