Are Gold & Silver Investing Safe-Havens Again?
- Posted on October 27, 2011 at 2:24pm by
Becket Adams
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Editor’s note: The following is cross post by Eric McWhinnie that originally appeared on Wall St. Cheat Sheet.
Over the past month, gold and silver have remained in a trading range. Gold had difficulties breaking through $1,700, while silver lost momentum as it rose near $33. However, recent developments such as Greece deadlocks and U.S. debt worries have once again returned gold and silver to their rightful safe-haven status.
Gold and silver never really lost their safe-haven status per se, but traders were not treating the metals as such. Gold and silver were caught in the tide with equities. The Wall Street Journal recently reported that since July 1, 90 percent of S&P 500 stocks have moved in the same direction on the same day on 26 days.
For comparison, this only happened 38 days for all of 2010. This week is a different story. Gold futures for December delivery increased $48 on Monday, and another $16 on Tuesday. Silver futures have climbed nearly $2 in the same period. The move higher yesterday was very telling for both metals.
Despite the Dow falling more than 200 points, gold and silver both managed to climb higher on Tuesday. More importantly, gold and silver edged past their trading ranges of $1,700 and $33, respectively. The breakout can partly be attributed to the declining U.S. dollar. Since reaching above 79.50 at the beginning of October, the U.S. dollar index has declined more than 4 percent.
The European Union is doomed to fail because the divide between the northern and southern countries is just too great, former Fed Chairman Alan Greenspan told CNBC in a recent interview. If the U.S. dollar was a true safe-haven, it would be rising against all currencies, sharply. Instead, the U.S. dollar is setting new record lows against the Japanese yen.
While many are focusing on the Eurozone debt crisis, concerns about the U.S. continue to rise. Last Friday, Bank of America’s Merrill Lynch unit warned that the U.S. is in for another credit downgrade by the end of the year if Congress fails to agree on a long-term plan to deal with the nation’s staggering debt load.
“The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan” to cut the deficit, Merrill’s North American economist, Ethan Harris, wrote in a report.
”Hence, we expect at least one credit downgrade in late November or early December when the super committee crashes,” he added.
On Friday, August 5, credit agency Standard and Poor’s issued the United States its first domestic credit downgrade in history. After the downgrade, gold surged 13 percent to $1,880 in about two weeks. Silver increased 10 percent to reach $43 in the same period. If you apply these same percentages from where gold and silver were trading at during the time of Merrill Lynch’s warning, we could see gold trading at $1,850 in a couple weeks, while silver would reach $34.50.
Of course, the U.S. has not received another credit downgrade yet, but if traders try to front run a possible downgrade, these appear to be quite reasonable price targets.
Although the U.S. dollar continues to receive spurts of strength, mostly due to euro weakness, investors around the world are focusing on gold and silver as real safe-havens. Earlier this month, the world’s first offshore yuan-denominated spot gold contracted started trading.
Precious Metals specialist GoldCore explains that the move makes it “more convenient for Chinese people and high net worth individuals holding yuan to invest in the precious metal and opens a new way to hedge.”
Furthermore, the move comes from a “push by Chinese authorities for a more international role for its currency and as an alternate reserve currency to the embattled dollar and euro,” GoldCore said.
Meanwhile, the U.S. is scrambling to find ways such as variable interest rates to make its debt look more appealing. The Treasury is considering issuing $20 billion blocks of three-year floating notes, but has not released any further details.
“America is just a very short time away from facing reality, and reality is going to be interest rates that rise due to overwhelming supply and inflation,” Michael Pento, president of Pento Portfolio Strategies explained.
“People have forgotten about the debt debate in the U.S., but it’s coming back to the forefront very quickly.”
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Comments (69)
lightswitch
Posted on October 27, 2011 at 6:14pmNever before have I ever seen advertising so poorly disguised as journalism. Way to go, Blaze. Always finding new lows.
Gold is in bubble, everyone. Get out while you can.
Report Post »wbalzley
Posted on October 27, 2011 at 6:59pmProfessor Porter, my Business Finance instructor, had a saying, “Markets can be irrational long after you run out of money.” He had friends in the business department that lost a ton of money shorting stocks during the tech bubble. They KNEW the market was overvalued, years before the bubble burst, but it kept going up anyway.
I suspect that this bubble will continue to grow until around 2013-2015. Fueled by global instability (war?), Gold could top out between $2,000 and $2,500 an ounce. However, advances in manufacturing and energy (due to war?) will cause the economy to pick up around that time. At some point a selling-frenzy will ensue (war ends?) and the gold market will crash.
Report Post »swalt
Posted on October 27, 2011 at 7:46pmYou know you two … I hope and pray you are both correct. If that is the case, then everything will really be okay. The world isn’t going to go into a meltdown, there won’t be rioting in the streets (like there already is) common sense will prevail and the world leaders will finally see that you can’t spend your way out of a recession/depression, they will see they have to cut spending, the religious extremists will all settle down and quit killing innocent people around the world, everyone will wake up one morning soon and the sky will be blue, the birds will be singing, and all will be right with the world. BUT, if that doesn’t happen (what are the odds?) then we as a people, are in for some very hard times. I am trying to get ready … are you?
http://www.securefutureinbadtimes.com
Report Post »The10thAmendment
Posted on October 27, 2011 at 7:48pm@ wbalzley
Posted on October 27, 2011 at 6:59pm
—————————————————————————————————–
Something like that, but gold will always have itself to fall back on (intrinsic value), where fiat currency does not have that support mechanism. Removal of sovereign Nations is a bad thing for fiat currency because it necessarily creates fear climate, especially in non production Countries. Gold prices might eventually drop, but it will be marked by the end of fiat currency altogether.
The powers that be are trying to side step gold hoarding giants like the Rothschild family by creating carbon currency to be the backer of fiat money. That too is destined to fail.
Gold is literally in the DNA of man and why there has always been an infinity towards it.
Report Post »The10thAmendment
Posted on October 27, 2011 at 7:57pmsorry about that. An “A”ffinity toward it.
Report Post »The10thAmendment
Posted on October 27, 2011 at 8:01pmAffinity toward it. Sorry about that.
Report Post »JoeAverage
Posted on October 27, 2011 at 8:30pmWell, since europe has decided to paper over their problems, precious metals will go up. Gold is not in a bubble ……yet. When it goes over $8000 an oz, we are looking at a bubble. Most bull markets last about 16-18 years. Commodities have a good 5 years to go before the blow off move. Dont sell just yet.
Report Post »ghenderlight
Posted on October 29, 2011 at 12:41amWhere is your head stay in the market ,and you will see. down down down.
Report Post »Bernard
Posted on October 27, 2011 at 5:44pmThe Gold and Silver bubble will come. There is too much Gold just in De Beers to have so many ads. including ads that support BLAZE feeding into the desperate emotions of people to buy gold instead of spending it on a vacation or going out to a restaurant, to impulse buying. The more people buy gold the Macro economic results will only further the demise of many businesses,
Report Post »There is an annoying ad that states”India and China are buying gold in enormous amounts. What is it that they know that we do not?.
First India has been the biggest buyer of Gold fore decades, averaging around 500 to 550 tons per anum. Most of that gold is purchased by her millions of jewelers who then sell it to the customer as jewelry, which then ends up in a lock box. China is different since it is the government that buys most of the Gold and recently has allowed her citizens to buy the yellow metal.
Gold and Silver cannot rise forever. Sooner or later there will be a “gold and silver” bubble and when that happens millions will lose in profits and those metals value will tumble.
Bernard
Posted on October 27, 2011 at 5:28pmSooner or late the “Gold and Silver” bubble will happen. There is too much of Gold still in reserves with companies like De beers to think that these metals rise will have no limits. One example is a commercial where it states “countries like India and China are buying enormous amounts of Gold, what is it that they know?”
Report Post »That commercial sounds more like a car sales man who uses every trick to sell a car.
India has been the biggest purchaser of Gold since even before her independence. Averaging around five hundred tons that nation far surpassed any other nation. Now she is buying close to one thousand tons. But here is the kicker. Most of that gold is bought by the private sector to feed the millions of Jewelers who cater to age old traditions where gold is a necessity. Once bought by the people, these gold jewelry ends up in a lock box and does little to the overall macro economy of that nation. That is the secret.
As far as China, that is a totally different story, since most of the Gold bought by that nation is by the government. Now the Chinese people are allowed to invest in gold but China is yet to catch up with her neighbor, India.
In the USA more and more commercials are pushing the purchase of Gold to a desperate population, who sacrifice investments in other areas so they can buy a gold coin. In the Macro economy, restaurants to travel are starved of cash is diverted to gold coins that end up in bank lock boxes, contributing nothing to the US economy.
swalt
Posted on October 27, 2011 at 5:50pmBernie, I don’t know where you get your information, but I totally disagree with you. You sound more like Anthoney Weiner than someone who actually knows what he’s talking about. So India is buying gold in the hundreds of tons … so they can turn it into jewelry??? My goodness dude … pull your head out and take a breath of clean air! Gold and silver are being bought because they have intrinsic value … they are a real substance, not a piece of paper with fancy ink on it. That is all that paper money is, and when global economy crashes (not IF it crashes, but WHEN) then all that paper will be worthless, but gold and silver will still be worth something. THAT is why China and India and smart people around the world are buying.
http://www.securefutureinbadtimes.com
Report Post »wbalzley
Posted on October 27, 2011 at 5:59pm@Swalt: What is the intrinsic value of gold? Can you eat it? Will it keep you warm in the winter? Gold, just like paper, only has value because we say it does.
Report Post »lightswitch
Posted on October 27, 2011 at 6:21pm@wbalzley Dead on. Thank you. The only thing that has real value is time. Food? Water? Shelter? They only reason they have value is for self preservation: in other words, the preservation of our time. We earn money to in order to be able to protect the time we have remaining. All currency is just an attempt to measure the value of time. Doesn‘t matter if it’s paper, gold, cigarettes, tire rubber, or star stickers. The value of any currency is merely what we believe it to be in relation to your time. This is why inflation is a joke, currency period is a bloody joke. We need a better system.
Report Post »swalt
Posted on October 27, 2011 at 6:38pmBalzy and Lightswitch … ever heard the term, “history repeats itself”? Well, it really does. Down thru history, gold and silver have ALWAYS had value and were used as currency. For centuries. Paper money on the other hand is relatively new on the scene. It is, as you say, only valuable because we SAY it has value. But here is a bet for you. When the global economy goes belly up, and you try to buy something you need … food, water, clothing, shelter, whatever it may be, I will bet a pre-1965 quarter against a rubber doughnut that I can buy what I need with a pocket full of those pre-1965 dimes and quarters, and you can take a wheelbarrow full of useless paper dollars to get what you need, and the merchant will only laugh at you. These two precious metals have value because people, down through the centuries, have always said GOLD and SILVER have value. You can argue till you are blue in the face, but facts are facts.
http://www.securefutureinbadtimes.com
Report Post »The10thAmendment
Posted on October 27, 2011 at 7:33pm@ wbalzley
Posted on October 27, 2011 at 5:59pm
@Swalt: What is the intrinsic value of gold? Can you eat it? Will it keep you warm in the winter? Gold, just like paper, only has value because we say it does.
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Fiat money is bound to the fear index and supported on simply the belief (or faith) in government/banking to keep price relatively stable. When fears in the stability of paper currency (fiat) happens, the price of gold and other precious metals tend to rise. Since about 1999 when gold was around the 350 range, fiat currencies have declined. Actually they tanked because there’s nothing behind the fiat currency to prop it up as gold once did. That means that electronic money bandied about in the market become unstable.
Gold on the other hand is self sustaining physical (intrinsic) known. Above ground tonnes is a known, so predicting its increase (while not exact) is generally easy to do. Nothing since the end of the barter system only has a government currency been more stable than gold.
Can it be eaten? It doesn’t matter. Gold is a non perishable that has staying power not borne on faith in governance to be a sustainable economic tender.
Report Post »Major_Skidmark
Posted on October 27, 2011 at 5:25pmToday we see the US stock market rally because the THINK the Euro will be saved. It will not. Then the stock market will jump again when Europe’s money floods into the USA for safety. This will be a short rally. Protect yourself.
Report Post »The10thAmendment
Posted on October 27, 2011 at 7:39pmYou hit the nail squarely on the head.
Report Post »Meyvn
Posted on October 27, 2011 at 4:36pmPerhaps until they confiscate it again.
Report Post »MARCH4HIM
Posted on October 27, 2011 at 8:59pmI heard a good qoute… the other day
I COLLECT THREE PRECIOUS METALS.
GOLD ..SILVER…….AND…..LEAD….!
Report Post »wbalzley
Posted on October 27, 2011 at 11:24pmTry collecting Palladium, Platinum, and Titanium!
Report Post »undercover
Posted on October 27, 2011 at 4:19pmRemember dollars will be worthless long before gold or silver – the time it buys you may be the difference between life and death.
Report Post »Vechorik
Posted on October 27, 2011 at 4:28pmFinancial info you should know:
What Obama (any president) could do to physical gold/silver you hold.
http://www.youtube.com/watch?v=dbrsI8S4Tro
Louisiana passes a bill that bans CASH for some sales!
http://www.youtube.com/watch?v=DZsjq4mp5Lc
Crash the system?!?! I’m not sure I know what that means, but I‘ve been watching foreign tv coverage of the US and that’s what the occupiers are saying and it’s scheduled October 28th.
Report Post »I can’t imagine what they would do, but there’s the date for you. Time will tell, I guess.
jzs
Posted on October 27, 2011 at 5:11pmYes, gold is safe. That’s where the smart money is going in these uncertain times. But, you may ask yourself, where should I go to buy gold? Good question. Goldline is the only place I would go for this investment, an investment that may literally save the lives of you and your family once hyperinflation hits, or the communist regime forcibly takes all your worldly possessions, or the caliphate finally gets it’s act together or whatever. You won’t regret your purchase and you can trust Goldline to offer you protection.
Goldline is under a class action lawsuit by liberals and commies who claim their gold is priced two to three times higher than the resell value. So you know they’re doing something right!
Report Post »wbalzley
Posted on October 27, 2011 at 6:08pm@JZS: The “smart money” operates on different principles than the average investor. They have enough resources to move entire markets, and then profit from those moves. Billion dollar investors know that they can create “momentum” that smaller investors will follow like lemmings, creating a bubble.
When the bubble reaches its peak, they can sell at a profit and start short-selling. When the lemmings see what they are doing, a selling frenzy ensues, causing a crash.
Report Post »Steverino
Posted on October 27, 2011 at 7:24pmJZS-
Report Post »That has GOT to be sarcasm.
Right?
Steve
jzs
Posted on October 27, 2011 at 10:39pmStevereno, yeah. That’s sarcasm.
Report Post »welloddyfriggindah
Posted on October 27, 2011 at 4:13pmShucks…& I thought one good day for the DOW would make it all better.
Report Post »Uncurable wound
Posted on October 27, 2011 at 3:59pmSorry you Cant have my gold…
Report Post »But you can have as much LED as it takes!
TEA
heyjim55
Posted on October 27, 2011 at 3:46pmGold and silver prices are being artificially held down by the Federal Reserve and it‘s associates it can’t get away with it for long and then the prices rise they reach a certain point and the Fed manipulates the markets to slow or reduce the price for a period of time. Eventually it will lose the battle as long as they monetize the debt or print money backed by nothing.
Report Post »wbalzley
Posted on October 27, 2011 at 6:10pmPlease explain how this is being done. The FED is not all-powerful, it cannot simply dictate market prices. Are they dumping gold?
Report Post »garyM
Posted on October 27, 2011 at 3:46pmBig government is far from the Gospel!
Report Post »garyM
Posted on October 27, 2011 at 3:43pmGod is real and is in control and God doesn’t exist in your mind because the devil has blinded the minds of those who do not believe so that the glorious Gospel cannot shine through and save your soul!
Report Post »AmericanDogMan
Posted on October 28, 2011 at 9:42amAmen brother!!
Report Post »Sandy
Posted on October 27, 2011 at 3:38pmAs long as they are printing money, we will head into a hyperinflation depression. You will need gold, silver, cigs, booze, sugar, flour, etc for money.
If they stop printing now, everything will devalue. I believe they have already printed so much money that the hyperinflation depression in on the way.
Report Post »Snowleopard {gallery of cat folks}
Posted on October 27, 2011 at 3:43pmHyperinflation will be only a part of it, the seizing of all gold and probably silver as well will occur; and I can see all of it that is coins, bars, jewelry and such being seized without due regard for ownership or historical value.
Report Post »http://artinphoenix.com/gallery/grimm (cat folk gallery)
progressiveslayer
Posted on October 27, 2011 at 3:51pmA depression is inevitable,it‘s not if it’s just a question of when,Beck may be right about Europe,when it collapses people will panic and sell their gold,the price drops then it’s time to buy gold,when other countries go into depression and collapse gold and silver will skyrocket.
Report Post »wbalzley
Posted on October 27, 2011 at 6:26pmA little lesson in MACRO-Economics: Printing money does not create inflation, IF the money is invested in NEW Manufacturing. The equation looks like this:
MV = PQ
M = Amount of Money (Printing)
Report Post »V = How fast it is spent
P = Prices (inflation)
Q = Quantity of Goods / Services (JOBS)
MARCH4HIM
Posted on October 27, 2011 at 8:32pmThe first mistake is calling.. treasury notes..“ money”
Report Post »These “notes” are just that ,a (I..O..U) FOM THE U.S.TREASURY.
If we think the FED… printing money ,has no cosequences,
Then why is it against the law.. to print counterfeit dollar bills.?
What’s the difference between the FED,
and somebody thats counterfeiting the currency.
The US DOLLAR “money”,
is not …BACKED….by … GOLD … anymore,
It is a …( IOU )……. built on trust…
and
If… “trust”… is… “lost…….then so is the dollar ….
garyM
Posted on October 27, 2011 at 3:03pmRevelation 18
1And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory.
2And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird.
3For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.
4And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues.
5For her sins have reached unto heaven, and God hath remembered her iniquities.
6Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double.
7How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow.
8Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.
9And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see t
Report Post »AmericanDogMan
Posted on October 28, 2011 at 9:46amEars to HEAR.
LET them Hear!
Report Post »six6six
Posted on October 27, 2011 at 3:01pmIs this another Glenn Beck commercial?
Report Post »lukerw
Posted on October 27, 2011 at 3:28pmIf Money becomes worthless… people will use substitutes for commerce… where traditionally it has been Gold and Silver… but Booze and Cigs will work too!
Report Post »Banana Republic Capitalist
Posted on October 27, 2011 at 3:54pm@LUKERW: “If Money becomes worthless… people will use substitutes for commerce… where traditionally it has been Gold and Silver… but Booze and Cigs will work too!”
…yeah. and remember, too, that in these types of situations, when there is no more jewlery/gold/silver to exchange, the unprepared people will themselves become the item being bartered (i.e. the unprepared mother “gives” her body to someone for an hour/hours/night in exchange for food/water/clothing to give to her child, etc.)…ugly times await us, gang.
Report Post »garyM
Posted on October 27, 2011 at 3:00pm1 Corinthians 3:11-13
11For other foundation can no man lay than that is laid, which is Jesus Christ.
12Now if any man build upon this foundation gold, silver, precious stones, wood, hay, stubble;
13Every man’s work shall be made manifest: for the day shall declare it, because it shall be revealed by fire; and the fire shall try every man’s work of what sort it is.
Report Post »garyM
Posted on October 27, 2011 at 2:59pmActs 3:6
Report Post »Then Peter said, Silver and gold have I none; but such as I have give I thee: In the name of Jesus Christ of Nazareth rise up and walk.
garyM
Posted on October 27, 2011 at 2:58pmEzekiel 7:19
Report Post »They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
Eliasim
Posted on October 27, 2011 at 3:06pmOh you mean like when people figure out that they really are not just crows that peck at shiny things, and food is scarce, and the fields aren’t growing crops because men have disabled the world food-supply, and there are plaques of crawling creatures beating men to the remaining crops – you mean that men will cast their silver in the street?
Report Post »Eliasim
Posted on October 27, 2011 at 3:11pmAnd you mean like they build new homes which are not lived in and dust fills their fields, and yet they see not their iniquity, because they are set on their lees, and they don’t see the dark-clouds around them?
Report Post »garyM
Posted on October 27, 2011 at 2:56pmProverbs 16:16
Report Post »How much better is it to get wisdom than gold! and to get understanding rather to be chosen than silver!
Eliasim
Posted on October 27, 2011 at 3:13pmOh it’s quite a lot better.
Report Post »Nemo13
Posted on October 27, 2011 at 2:55pmIf things level off, gold & silver will drop. Fast. I remember seeing the commercials all over “We will buy your gold!! Cash!” And they did, now it’s “Buy gold NOW!” And people are (prob the very gold teef that was melted down, haha) If currency is crapping out, why is anyone selling gold, HMMM? Would they not hoard it away themselves? Amusing. Be warned if gold drops in the future, you could lose have your $$$ or more.
Report Post »Eliasim
Posted on October 27, 2011 at 2:50pmI don’t care what their legislation or case law says. There is 100′s of trillions of dollars worth of debt in the world mixed-up with spaghetti. They’re gonna take your gold. I mean unless they find a gold mine on the moon and it’s practical to bring it back to earth.
Report Post »Eliasim
Posted on October 27, 2011 at 2:47pmThey’re going to confiscate your gold, but buy it as you may.
Report Post »lukerw
Posted on October 27, 2011 at 2:46pmIf you have Money, and buy Gold… it means that you are freezing the Value of you Worth… and you expect that Humans are going to do something stupid, where all other Value will decrease Relative to you. Right On!
Report Post »copatriots
Posted on October 27, 2011 at 2:53pmOne thing I can assure you, LUKER, humans will do something stupid. Satan has so many willing, as well as unwitting, participants helping him out right now that it’s only a matter of time.
Report Post »lukerw
Posted on October 27, 2011 at 3:23pmJust remember… Gold is Not an “Investment”! It is a Hedge!
Report Post »Banana Republic Capitalist
Posted on October 27, 2011 at 4:00pmWell then i guess my worth is “frozen” at $22/ounce for silver and at $1,147/ounce for gold since last October…or the flipside is that i’m “liquid” at $33/ounce for silver and at $1,700/ounce for gold as of this October…just depends upon which side of the coin you’re looking (puns intended)…
Report Post »Solzhenitsin
Posted on October 27, 2011 at 2:44pmWhat about bullion and the Dodd-Frank act?
Report Post »Gonzo
Posted on October 27, 2011 at 2:41pmThis story brought to you by Goldline, I was a customer of theirs before they were a customer of mine.
Report Post »marhee9
Posted on October 27, 2011 at 2:32pmAs the value of the dollar continues to be devalued, gold and silver will always be a safe investment. The only thing that could slow it down, is getting the current administration out of office in 2012. Even then, it will take some time. http://www.youtube.com/watch?v=IlIS6gRq32Q
Report Post »MAULEMALL
Posted on October 27, 2011 at 2:38pmAfter gold hit $1500 I sold… $1150 per oz profit…
I have silver now and will hold for a while longer.
Report Post »ProbIemSoIver
Posted on October 27, 2011 at 2:46pmI will take gold in place of services rendered !!!
That is proof positive we do not need their “money”.
I do NOT want to use that Nearly-worthless promissory note from a PRIVATE bank. Barter with People, and trade GOLD and SILVER. Tell the Federal Reserve to take their worthless paper and shove it.
2:14 MUST SEE !!! http://www.youtube.com/watch?v=IlCs7u1ihws
4:18 MUST SEE !!! http://www.youtube.com/watch?v=mSk3uRRgijE&feature=relmfu
Report Post »ProbIemSoIver
Posted on October 27, 2011 at 2:49pm* I Will Take Gold and Silver in place of a federal reserve note, for payment of my services and possessions, Public or private !!!
Report Post »