Gold Expert: Here’s Why You Need to be Buying Physical Gold and Silver (Hint: It Involves China)
- Posted on April 23, 2012 at 8:32am by
Jonathon M. Seidl
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You might not know who Harvey Organ is, but you should probably know what he’s saying.
Organ, a well-known bouillon analyst who has testified before the U.S. Commodities Trading Futures Commission, says China is getting its hands on physical gold and silver in droves, and you would be wise to do the same.
“The problem now is that the physical is now gone. Where is going? It’s gone from West to East,” Organ tells Chris Martenson.
He continues:
A lot of people don’t know that China used to refine close to 80% of the world’s supplies of silver, because it’s very toxic. Up until probably ’85, the Chinese handled 80% of the world’s refining of silver. Now they’re down to 40%, but that’s still a major part of China’s industry. They are keeping every single silver ounce they refine, and gold. They are keeping it for themselves; their reserves are rising (though they don’t tell exactly). Two years ago they went up to 1,054 tons and I can assure you it’s probably triple that now. These guys are not stopping. Just like they are not stopping in oil. They know what the game is and they are slowly taking all their U.S. dollars that are on their shelf and converting them to gold, oil, copper – anything that’s real.
According to Organ, the price of gold could soon skyrocket as China continues to buy up physical product.
“And I’m going to tell you: you are going to go to sleep on Thursday night and gold may be $1,670. And then you wake up the next day and it’s going to be a banking holiday. And gold will be $3,000 bid, no offer,” he says.
Not surprisingly, he concludes: “You can’t have anything paper, because you got nothing. You’ve got to have a physical coin or a bar. [If all you have is a] piece of paper — that’s all it is! It will just blow up in smoke!
“So just go buy your physical and be thankful that you are getting it at a cheaper price today.”
You can listen to the interview below (the China part starts around the 16-minute mark):
(H/T: Zero Hedge)
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Comments (124)
DarthMims
Posted on April 23, 2012 at 1:35pmThe part I never hear anyone mention is that it is just as likely that China will dump their gold on the market at some point, and while it was $1300 an ounce when you went to bed, it is now $300 an ounce. I believe this even more after hearing that China is hoarding an unknown amount of what they are mining themselves. If, on the off-chance that they hit a major vein a few years ago, they would try to keep secret about how much they had, knowing it would deflate the market, they manipulated the financial markets to artificially inflate the price so that they could dump it all at once and make the maximum amount of money. The rest of the world would be scrambling to figure out what happened, while China comes out richer and more powerful (being the only buyer in the gold market at that point, they could dictate their own price). I have no hard evidence, mind you, to back this up, except that it has happened in the past when countries discover a large deposit of precious metal.
Report Post »Unix
Posted on April 23, 2012 at 2:15pmLet’s say you are correct, ALL fiat currency would be worthless, while gold and silver would still have some value, even if less. Gold value has not changed, but it is the dollar that has devalued, making he price go up. So, as the dollar devalues more and more, gold and silver will appreciate more and more, until the bubble pops. Then it will become a barter item, either way, America is done, cooked, put a fork in her – the Progressives (from both parties) have seen to that already!
Report Post »Ghandi was a Republican
Posted on April 23, 2012 at 2:44pmThat will not happen so long as the obama threat remains. The obama factor is about 50% of the Gold prices. His inflationary (dollar deflation) is about another 20-30% and climbing *that will not be returning). If absolute chaos ensues then the dollar is worthless, ergo gold becomes $Millions against the dollar (if in fact you can even get anyone to even take dollars for Gold)..
Report Post »mils
Posted on April 23, 2012 at 3:22pmsay what you will….you can have a million+ in gold..if there is nothing to buy , eg food, gas…it is worthless…
Report Post »We will stock our lader first, anything left over..we might think about gold.. OKAY!!..no..we won’t…can never have too much food and survival things..for the blight that is coming our way..
duhwut
Posted on April 23, 2012 at 3:25pmOR
you could take your $1,670 and invest in other precious metals such as steel which have already been converted into a real working tool…
GUNS!
seriously, invest in guns. gold and silver might make you money in a few months, but i guarantee that guns will make you money in the long run as long as you keep them in good condition. with all of the gun regulations piling up, guns get more expensive and rare, so sell them 10 years from now and you will make money! and, unlike gold and silver, you can actually use them! Defense, fun, whatever you want! Now that’s some bang for you buck!
for $1,670 you could…
buy an average AR-15 for about $700, and about 2,500 rounds of ammo.
or
buy an AK-47 for about $500, and about 3,500 rounds of ammo
or
buy a Mosin Nagant for around $100, and about 6,000 rounds of ammo
or
buy some sort of pistol carbine in 9mm for around $300, and about 5,000 rounds of ammo
or
do your own research and realize how much you could get for $1,670…
http://gun-deals.com/index.php – user submitted deals found around the internet. great for ammo and guns
http://www.budsgunshop.com – pretty decent deals on many firearms. great way to find a fair price on a certain gun.
http://www.armslist.com/ – like craigslist but for guns. just click your state and browse.
http://www.ammoengine.com/ – lists ammo deals from around the internet. not as good as the first link though.
buy guns. be that extra statistic that shows your government how u
Report Post »DarthMims
Posted on April 23, 2012 at 3:45pm@UNIX, et al, the Federal Reserve System, for all its faults, does have one saving grace and that is it is not beholden to the precious metals market (the gold standard, silver standard). It is reasonable to assume that since China needs oil, and oil is traded in US Dollars, China would dump their gold on the market for dollars, and use the dollars to buy oil. That helps restore value to the dollar, but gold goes back down to where it was before (around $300 an ounce). You are right that gold and other precious metals would still have value, but going to the extreme example, in a post-apocolyptic society, shiny metals won’t be worth anything.
Report Post »Libertyluvnmomma
Posted on April 23, 2012 at 3:55pmUNIX-”Then it will become a barter item,”
Report Post »ok but who decides it’s value?
you can’t eat it or wear it.
That is the huge problem with commodities.
Saywhatonemoretime
Posted on April 23, 2012 at 5:00pmduhwut,
Report Post »thanks for links…
enjoyed the breakdown.
ms.sandman
Posted on April 23, 2012 at 5:12pmChinese officials have strongly recommended to their people to buy physical gold and silver and are even helping them purchase safes. Why would they then drop the price? Doesn’t seem logical. No, the chinese know that gold and silver = real money.
Report Post »Unix
Posted on April 23, 2012 at 5:59pmWhat happens when the US dollar is no longer the ‘world’s reserve currency’? It will be worth the .02 cents for paper and ink and that is all. You see there is more of our currency in the world than any other currency, it will devalue to the point of worthlessness. Other currencies will follow suite, unless the countries have stored gold/silver and peg their currency on it, but none have so far, save maybe Switzerland. Gold/Silver on the other hand will be priced in LAND VALUES, pegged to some currency, be it the Swiss Franc or a basket of currencies. Either way, they will have VALUE. I am not saying it is fail-safe, but what other alternative ‘to currency’ will you have. EVERYTHING will be revalued to something, whether it be to gold/silver, land or NWO new currency, or whatever, but the shiny stuff WILL have value, it ALWAYS has and ALWAYS will, because it is finite!
Report Post »Secret Squirrel
Posted on April 23, 2012 at 6:58pmDarthmims:
Report Post »If I wake up and gold is $300, I’ll be buying like crazy.
I wish I HAD bought gold when it was $300.
theDfactor
Posted on April 23, 2012 at 7:26pmHuh…? That makes absolutely no sense at all…! Perhaps you need to re-think that premise…
Report Post »Why would anyone continue to dump gold all the while driving the price lower…?
If China starts dumping gold at $1700 and ends up receiving $300 per, wouldn’t that be pretty stupid…?
If you are going to sell a commodity, you sell it slowly and maintain the highest price possibly…
China is hording gold because they want to eventually have the yuan as the world’s reserve currency and they want it backed by gold so that they will no longer have to accept cheap U.S. dollars as repayment for the loans they made to not only the U.S., but other countries that have their printing presses in high gear.
Previously, China’s currency has always been backed by silver and they want to change that, and they will be in the catbird seat when they do… And so will Americans who have as much gold as they can afford to buy while it is still cheap at $1640 as of today.
At the current rate China is acquiring gold, Ft. Knox will soon be depleted. Major countries are pouring their gold reserves into the market to avoid insolvency… And where is all that gold going…? China!
Not only is China buy gold hand over fist, they are also acquiring mining companies in virtually every country that produces gold.
I’m betting that China is much smarter than any politician and many Americans…!
theDfactor
Posted on April 23, 2012 at 7:30pmHuh…? That makes absolutely no sense at all…! Perhaps you need to re-think that premise…
Report Post »Why would anyone continue to dump gold all the while driving the price lower…?
If China starts dumping gold at $1700 and ends up receiving $300 per, wouldn’t that be pretty stupid…?
If you are going to sell a commodity, you sell it slowly and maintain the highest price possibly…
China is hording gold because they want to eventually have the yuan as the world’s reserve currency and they want it backed by gold so that they will no longer have to accept cheap U.S. dollars as repayment for the loans they made to not only the U.S., but other countries that have their printing presses in high gear.
Previously, China’s currency has always been backed by silver and they want to change that, and they will be in the catbird seat when they do… And so will Americans who have as much gold as they can afford to buy while it is still cheap at $1640 as of today.
At the current rate China is acquiring gold, Ft. Knox will soon be depleted. Major countries are pouring their gold reserves into the market to avoid insolvency… And where is all that gold going…? China!
Not only is China buying gold hand over fist, they are also acquiring mining companies in virtually every country that produces gold.
I’m betting that China is much smarter than any politician and many Americans…!
BIGWUN
Posted on April 23, 2012 at 8:08pmWhat has happened far more often in the past several thousand years that we know of is that fiat currencies are destroyed while the real price of commodities is level when denominated in gold and silver. You know the story; two dimes bought a gallon of gas 60 years ago and the silver in those two dimes buys more than a gallon of gas now…
Report Post »Unix
Posted on April 23, 2012 at 8:30pmDarth, your comment on the Federal Reserve is false. The Fed is not a part of the Federal Govt and as you may know is owned by very rich bankers and families. What you say about China dumping is also false, why would they want to perpetuate the US petrol dollar to their demise? They want BRIC monies to be the basket of currencies that oils is bought at. Also, the reason we are going broke and our dollar is becoming worthless is the very fact it is no longer backed by GOLD! Nixon took us off the gold standard to fund the Vietnam War, and promised the Saudi govt protection for selling oil in US dollars, and that is the paradigm that has driven us for years, and is about to crash and burn. Time is short to prepare now, time to get educated and save yourselves and families before it is too late!!!! come May 1st, things are going to change, then July 1st another thing will happen, and it will be downhill from there my friends!!!!
Report Post »A Doctors Labor Is Not My Right
Posted on April 23, 2012 at 9:56pm@BIGWUN,
“What has happened far more often in the past several thousand years that we know of is that fiat currencies are destroyed while the real price of commodities is level when denominated in gold and silver. ”
Agreed.
The reason China wants gold – apart from attempting to benefit from inflating their own fiat currency – is that they keep losing value by trying to hold it in America’s depreciating fiat currency.
We have exported inflation all over the world, and so we have an artificial advantage over those who use our USD (You can’t blame the free market for this, because the free market opposes fiat money).
China SHOULD abandon the USD, just like WE should; In fact, we should abandon ALL fiat currencies.
The reason shiny, rare metals are valuable as currency is because they are INCREDIBLY USEFUL as units of accounts and, by extension, stores of value.
You can’t eat them, and they’re cost prohibitive for many industrial projects; but because it is difficult to inflate its supply, and because it doesn’t rust, and because it’s easily divisible, it can generally be relied upon for determining profits and losses, and is inherently resistant to theft by private bank fractional reserve lending and government inflation of the money supply.
See here.
Smashing Myths and Restoring Sound Money | Thomas E. Woods, Jr.
Report Post »http://www.youtube.com/watch?v=HAzExlEsIKk
Watchingtheweasels
Posted on April 24, 2012 at 8:07amIf China decides to dump this Gold on the market to take profit, what precisely will they accept in payment? More dollars? Euros? I think a scenario in which Obama is re-elected, the federal deficit continues to rise, and China sheds its treasuries and dollars to be far more plausible.
Report Post »FoxholeAtheist
Posted on April 24, 2012 at 8:20pmI tell you what you do; you invest in seeds. That will be worth the most if we get to see this post-apocalyptic far-fetched scenario. Either that or we can just go over to Glenneth’s house. I’m sure all his wives would love to cook for us. After all, it is the Xtian thing to do.
Report Post »WBOB
Posted on April 23, 2012 at 1:18pmGold, Silver, Food, Water, Firearms, Ammunition & the Bible.
Report Post »Unix
Posted on April 23, 2012 at 2:11pmYou got that right Bob! this country is going to crash economically, and if one is not prepared, it will be lights out forever! Who knows when that day will arrive, because we can still print worthless dollars, but that day will come when it won’t matter any longer.
Report Post »mils
Posted on April 23, 2012 at 3:23pmfood/water first…any and all second…
Report Post »Rohawk
Posted on April 23, 2012 at 11:41pmI move all my money from a 401k to silver and gold over the last year and believe its only a matter of time until the dollar crashes. That said, I also believe that we are living in the endtimes and that the destruction of fiat money could hasten a cashless world economy that also restricts theuse of gold and silver that the angry masses resen and that those who caused this crash can more easily control. So while I am all in on metals I know there‘s a passage that says people’s gold will someday be worthless to them when a mark is needed to buy and sell.
Report Post »FoxholeAtheist
Posted on April 24, 2012 at 8:21pmBecause the Bible can help so much. Especially if you want to stone someone to death.
Stupid.
Report Post »Libertyluvnmomma
Posted on April 23, 2012 at 12:39pmHarvey ORGAN?? I’d never admit to taking his financial advice with a name like that. I’d lie and say Peter Schiff
Report Post »JimS51
Posted on April 23, 2012 at 1:20pm..anyone else think it’s odd that they say paper money is over/worthless etc etc…BUT they sell their gold for it…odd…why on earth would you trade an item that is going to increase in value for one that you think will decrease in value?…it would seem that if their opinion of future economic problems is correct, they would NEVER sell their gold…and yet they do…so maybe they are just selling stuff and hyping it…maybe….
Report Post »Unix
Posted on April 23, 2012 at 2:19pmI hold gold and silver as a crash hedge! I never plan to sell it, just use it to barter with when the time comes. There are more reasons to have the metals, just like lead, than we are admitting here!
Report Post »progressiveslayer
Posted on April 23, 2012 at 3:19pmSOCIALISM.ROCKS Yes it sure does it‘s rockin Greece right into bankruptcy and they’ll default soon.
Report Post »Everywhere socialism‘s tried it fails it’s very consistent in that regard.The only ism that works is capitalism not the crony capitalism that’s being played out here in the U.S where the stinking corrupt government is involved in business,I mean free market capitalism where market determines price not government involvement.Socialism and Greece yeah it’s a wonderful thing,see what happens when you run out of other peoples money.
ThomasBombadillo
Posted on April 23, 2012 at 3:24pmJIMS51,
As long as other accept cash to buy stuff, why would they not accept cash for gold? Why not sell gold for cash when you can purchase more gold with cash. When cash becomes worthless, I don‘ think you’ll be able to buy gold with it, but for now why wouldn’t they?
Report Post »mils
Posted on April 23, 2012 at 3:26pm@ YNIX,,,if there is nothing to barter for…what good is the gold, silver, moon rocks?..
Report Post »I would not barter my food,oil, water etc for your gold.
Unix
Posted on April 23, 2012 at 3:55pmIT could become our true currency, as stated in the Constitution, ever thought of that? I could maybe plunk down some gold coins for a house? a car? some gas? One never knows MILS…maybe not for YOUR food and water, etc…but for other things why not? I also have my own food, water, ammo, etc…so that is not what I was referring to.
Report Post »RANGER1965
Posted on April 23, 2012 at 12:22pmIt’s interesting reading some of the comments here.
It seems that for some, this article which warns that your paper money assets will be worthless soon; is a call to depend on the Lord’s grace, and not to buy gold, food, or prepare for harsh times.
I feel like I am in the twighlight zone with some of these people.
You are being warned from every source far and wide of a coming disaster. You are being told by your own congressmen of unsustainable debt. You are seeing with your own eyes much of our leadership following evil socialistic philosophies which will create wide-spread misery. You are watching your own pocket book dwindle away as gas and food prices soar. You are seeing terrible fissures and cracks in our society and the death of trust. It’s happening right before your eyes in living color.
DOES THE ARCHANGEL OF THE LORD HAVE TO BLOW A FRIGGEN TRUMPET IN YOUR EAR FOR YOU TO USE YOUR HEAD??!!
I don‘t know about you but I depend on the Lord’s Grace every second. Without it, I’m done.
God’s grace is NOT! a substitute for acting reasonably when you have been warned.
If you see a tornado about to hit your house do you sit on your ass, or use the brain’s God gave you and get into the storm shelter, and THEN pray mightly to the Lord.
God’s grace might give you the promised land but you still have to grab a weapon and take it.
You have been warned. Now depend on the Lord, and get to work!
RANGER
Report Post »chazmo
Posted on April 23, 2012 at 12:32pmyou sir are correct.. God Bless you and your family.
Report Post »socialism.rocks
Posted on April 23, 2012 at 1:07pmfunny thing it will not be socialists to blame when the crash happens it will be evil conservatives and capitalism which will be blamed….
Report Post »and rightly so…. the europeans woke up to the capitalists shorting selling their bond market collapsing them so the rich the few capitalists could buy it all up on the cheap
just wait and see who is to blame it surely is not going to be socialists…
first the shortsold us… then they collapsed us then they tried to buy us up on the cheap ! the people will yell
spain and italy france so could fhuck america and england just by defaulting on the debt on purpose why should they have austerity but be still in debt.. when they can default and do austerity and be out of debt
the global game of capitalism is nearly ending
RANGER1965
Posted on April 23, 2012 at 1:46pm@Socialism.Rocks
No human system of goverment is without significant flaws.
True Capitolism has many flaws. Monopolies, Market Manipulation, Unfair Trading Practices, Currency Manipulation, Capitol Elites who have so much money that they can always make the market dance to their tune by subtle but real manipulation. And regulating it doesn’t always solve these problems, it sometimes creates even more corruption.
But Socialism/Communism is even worse. If there is one system that seems to be forged from the pit of hell itself, it is Socialism/Communism. It takes the worst part of humanity, Greed, Envy, Jealousy, Hatred, Spite and promotes it. Makes grow to full flower. It takes the best part of humanity… honor, self sacrifice, innovation, creativity, love…and crushes it…because it’s not fair.
Jackals rise to the top and rule over a people that exemplify the color grey. A people with crushed spirits. A cynical people that belive nothing, love nothing, and hope for nothing.
Socialism is a persistent evil that in the name of fairness destroys the human spirit. Replacing Capitolism with it’s many flaws with pure evil is not wise.
It’s one of the things I will fight and die to prevent, and I consider it a worthy sacrifice.
RANGER
Report Post »socialism.rocks
Posted on April 23, 2012 at 2:44pmlmao socialism is about greed? you are a total ayn rander is see
fact is socialism is the same as capitalism but the allocation of resources are used different…
and resources are owned by we the people
you are a typical of the right……. you say words like greed jealousy…..
without socialism there would be no monetary system
without socialism there would be no rule of law
without government there would be no such thing as property rights
without goverment there would be no monetary system
GOVERNMENT AS A INSTITUTION IS SOCIALISM
you want socialism for the few over the many “none elected plutocrats”
others people money- but who created “money” government…
you talk out yer arse but are totally for everything that is anti-“free enterprise”
Report Post »Free enterprise is the people deciding values…. not the few but the many
ayn randers beckers sure seem to be against free enterprise
socialism is more true to free enterprise more capitalistic then anything the right has ever produced
there is not a single functioning conservative state-they are the poorest of the poor because of idealogy… proof is in the pudding buddeh
mils
Posted on April 23, 2012 at 3:27pm100% correct and preaching to the choir with us!!! thanks!!
Report Post »RANGER1965
Posted on April 23, 2012 at 4:15pm@Socialism.Rocks
Of course Capitolism has greed. Self interest is built into the system. Capitolism recognizes human nature, it doesn’t try to disguise it with pretty words like socialism. Let’s call the greed of the party elite things like: “Necessary sacrifice for the good of the collective.” AND BELIEVE ME…under socialism there will be a party elite.
The checks and balances to greed in Capitolism is a free market. The greedy SOB will eventually fail, because with a free market system someone else can come along and sell a better product, a better service, at a better price.
The checks and balances to greed in Socialism are our new Overlords, whomever they be. They will decide for you what is greed and what is not. They will decide what is best for you, because you are not enlightened enough. And they will do it all in the name of fairness.
With both of these systems filled with flaws, and being run by flawed people. I will choose the one with maximum freedom for the individual. I recognize the deep flaws in human nature and I will choose the system that minimizes the damage which is Capitolism.
I think most of the people on this forum whether they can reason it out for themselves or understand it instinctualiy would choose the same.
So unless you can come up with a better system than Socialism to trade for Capitolism then your arguments area failure, just like Socialism always has been.
RANGER
Report Post »Saywhatonemoretime
Posted on April 23, 2012 at 5:42pmis insane…
that is what happens to a chemically watererd,fed and medicated is destined for…
chemical control…
research is a fun read.
dam nice ranger.
Report Post »WyomingPatriot
Posted on April 23, 2012 at 11:16pmRanger… Perhaps a tiny bit hyperbolic, but no less accurate. I find myself on my knees, over and over again every night of the week, praying for God’s intervention to expose the liars and fools, who just refuse to wake their sorry a$$es up and get prepared for the mother of all crashes. It’s beyond comprehension that there are any Americans at all who still rely upon the propaganda ministry to inform them about anything really. The so-called “mainstream media” is so out of touch with reality, that I am absolutely shocked, and ashamed to know that they still have any audience at all. Seriously, it’s beyond comprehension to me that anyone could be so brain-dead as to even give them a glance. They make the propaganda masters of the early 20th century all seem like genius’s in retrospect. My level of frustration with those who choose to buy into all of this crap , and not even entertain the notion that the federal government is acting just like all of the banana republics we laughed about when we were kids, is about to blow the top of my head off. And, any moron who thinks that socialism and actual capitalism can be compared by any stretch of imagination truly belongs in a padded room wearing a straight-jacket, for the protection of those of us who haven’t lost our bloody minds yet. It makes me wonder sometimes, if there’s even any hope left to fight for truth, but then I pray some more, and remember my oath that if I go down I’ll do it swinging, and on my own terms. G
Report Post »jakartaman
Posted on April 23, 2012 at 12:18pmI have found that I can chew gum and still walk
Report Post »I have also found that I can have stored foods water, guns, ammo AND lots of silver.
I lived in Indonesia – One night I went to bed and the Ruphia was worth 2,500 to the dollar.
next morning it was worth 5,000 to the dollar. If you do not think this could happen in good old USA you’d be a fool!
HorseCrazy
Posted on April 23, 2012 at 11:35amI refuse to let these stories scare me. Could we have a collapse of the economy world wide within 15 days at any given time? yes of course. living life in fear is crazy. you cannot eat gold people.
Report Post »Bryancpe
Posted on April 23, 2012 at 11:59amMy thoughts exactly. If food shortages occur you think a piece of yellow metal is going to be worth anything? Food, guns, ammo, medicine, etc. Real bargaining power will be all that has value.
Report Post »chazmo
Posted on April 23, 2012 at 12:21pmJust watch this. http://youtu.be/7ubJp6rmUYM
Report Post »Itsjusttim
Posted on April 23, 2012 at 11:05amlukerw,
Report Post »Mathematics is fascinating isn’t it? In fact where do you think mathematics originated? It originated eastward. But I can tell you don’t really believe in the spirit, and the spirit is also as mathematics in that what happens to one side is reflected in the other side. Now, when people lose their freedom, and become miserable that’s going to reflect in the spirit of China. And people’s interest in gold as valuable will fade away. You see technology and world-wide Socialism has made people’s lives fairly easy, and mediocre, while even other nations have been free. So they better figure out a way to keep 8 billion plus people in the world, because when the world population goes back down to one or two billion people, then all those billions of since passed people will be ministering unto the remaining one or two billion people left in the world, and they ain’t going to care about gold.
Itsjusttim
Posted on April 23, 2012 at 11:13amHaha, oh yeah – just as lightning strikes in the east and reflects in the west, the worthlessness of gold will strike in the east and reflect in the west. Didn’t God say he would deal with Gog in the end days?
Report Post »cemerius
Posted on April 23, 2012 at 10:55amTime to buy gold and silver is OVER…..Brass and Lead or the REAL commodities!!
Report Post »HorseCrazy
Posted on April 23, 2012 at 11:33amagree. you cannot eat gold either. hold the metals used for manufacturing that china is hoarding. that is where we all need to be looking.
Report Post »lukerw
Posted on April 23, 2012 at 1:07pmIn Greece… the Hot Black Market items are: Food, Alcohol, and Cigarettes.
Report Post »planbdeveloper
Posted on April 23, 2012 at 10:45amYou can get your Gold by the gram at http://www.karatbargoldvault.com No Fees! No Storage Fees!
Report Post »cosack
Posted on April 23, 2012 at 10:12ami agree. but i wouldnt trade a can of peas for a pound of gold. but i would trade 2 cans of peas for a can of spam.
Report Post »guntotinsquaw
Posted on April 23, 2012 at 10:25amI’m with you, they can collect all the gold the want. Not sure even BBQ can help them eat it. In a time of survival, what you can’t eat, wear or hunt will have zero value for me.
Report Post »Bloody Sam
Posted on April 23, 2012 at 10:56amHolding physical gold is not for trading for food and such.
Report Post »It is a replacement for paper assets so when the dollar finally goes belly up, you’ll have assets that can be used to buy back into the system once the dollar is replaced.
It is a hedge against hyper-inflation. And it keeps you liquid until things return to “normal”.
People who buy gold expecting to get food and water for it are fools.
Cylindrical brass and lead ingots will be more valuable in the short term.
Evileye
Posted on April 23, 2012 at 11:13amRight
Report Post »When you have all this gold what do you use for money?
Walk around with a file and scrap of a bit for a loaf of bread.
AxelPhantom
Posted on April 23, 2012 at 5:06pm…but will your government accept a can of peas to pay your property taxes or will they just take the land?
Report Post »Ruckus_Tom
Posted on April 23, 2012 at 9:48amJust wait until China or Russia or India or Brazil or South Africa (the BRICS) come out and say they are no longer going to use the American dollar as their trade currency.
Report Post »lukerw
Posted on April 23, 2012 at 10:07amIt’s been talked about for years… and planned! The USA Rating will fall… the Dollar will fall… Inflation will SkyRocket… Trade to the US will collapse… food lines will form… and the Government will TakeOver all Private Property as the Value Support to a New Currency!
Velcome to the Weimar Republic!
Report Post »JRook
Posted on April 23, 2012 at 10:11amSo when Goldline purchases ad time on GB show they get favorable reports on the Blaze. Guess the conservative media reinforced message strategy works for advertising too. If enough media outlets carry a report or story it must be true. Despite facts and logic.
Report Post »progressiveslayer
Posted on April 23, 2012 at 10:18amJROOK The advertising angle is a non starter,there’s 105 trillion reasons why gold will skyrocket.
Report Post »progressiveslayer
Posted on April 23, 2012 at 10:20amRUCKUS_TOM Oil is priced in dollars on the world market and when the dollar loses it’s reserve currency status we will see change we can believe in.Hyperinflation and then we’re done.
Report Post »lukerw
Posted on April 23, 2012 at 10:52am@PROGRESSIVE…
Report Post »Is that 105 Tril… the total of issued $s?
OhioRifleman
Posted on April 23, 2012 at 12:24pm@ LUKER
$105 Trillion is the total _unfunded_ liability of the United States Government.
Report Post »brother_ed
Posted on April 23, 2012 at 3:08pm@JROOK
What about the APMEX ad I see everyday on the Daily Kos?
They are NOT a right wing website.
Report Post »americangirl
Posted on April 23, 2012 at 4:25pmChina and Russia are already trading in their own currencies and no longer trade with the U.S. Dollar. That has been happening for awhile now and the media didn’t even mention it. Iran has been accepting other currencies for their oil and accept Gold now from India for oil. Once Saudi Arabia no longer trades in the U.S. dollar we are in trouble.
Report Post »Saywhatonemoretime
Posted on April 23, 2012 at 5:52pmalready have food lines…food stamps.
Report Post »possom
Posted on April 23, 2012 at 9:41amCan‘t afford preciou’s metal, then ammo is the next best thing!
Report Post »lukerw
Posted on April 23, 2012 at 9:47amAh… Silver and Gold Bullets… perfect!
Report Post »TheLeftMadeMeRight
Posted on April 23, 2012 at 10:00amFor the price of 50 rounds of 45 cal ammo you can purchase one ounce of .99% pure silver in bar form at a coin shop. Or you can purchase “junk” silver coins that are 90% silver, a mercury dime is worth about $3.50. Yes you can afford PM…today.
Report Post »TAVERN-TALENT
Posted on April 23, 2012 at 9:36amSwitched two 401K’s to a gold and silver IRA 2 years ago. I’ll be ready when Obama and his team of morons gets through ruining the ecomony.
Report Post »JediKnight
Posted on April 23, 2012 at 9:56amUnless you can physically touch that Gold and Silver, then it’s still just a piece of paper. Most of those (if not all) Gold and Silver IRAs are simply ETFs. They are completely useless if the market crashes. Everyone will try to “take delivery” of their Gold, but nothing will be there. Unless you paid a tax penalty to do the conversion, you probably ended up with an ETF (paper). Completely useless.
If I was a little more cynical, I’d say this guy is trying to drive the price up right now. The price of Gold has been relatively flat for a few months. By encouraging people to buy, it drives the price up.
For those of us that can’t afford Gold, the post above you is right. Get ammo and lots of it.
Report Post »lukerw
Posted on April 23, 2012 at 11:04am@JEDI…
Report Post »Agreed!
chazmo
Posted on April 23, 2012 at 11:50amthat paper won’t be worth a Dog meal. Phyzz only. I have food, guns, ammo, and silver/gold. Remember, this: in the weimar gold was king.. in Argentina Gold was king, in Zimbabwe gold is king.
Report Post »http://youtu.be/7ubJp6rmUYM
jakartaman
Posted on April 23, 2012 at 12:22pmObama is going after 401K’s get the hell out while you can – take possession now!
Report Post »Ocalean
Posted on April 23, 2012 at 9:31amI love Glenn Beck to death but when he and others say buy gold I want to scream “What do you do when you do not have the money to buy gold?” Sorry but I am a poor retired person with very little assets.
Report Post »JediKnight
Posted on April 23, 2012 at 10:01amYou do the next thing: stock up on food, water, and guns and ammo. These items are on the list with Gold. If you can’t afford Gold, make sure you can be self sufficient for a while. The longer the better.
Glen has mentioned “everything happens in 3′s”. So make sure you have enough food and water for 3 days. Then up that to 3 weeks. And on and on.
If a crisis hits, the store shelves will empty in a matter of hours (drug stores in California sold out of the radiation pills in a matter of hours when Japan’s reactor went down, even though there was no danger, all thanks to the media). Getting through that will be the first challenge. The next one will be when everyone realizes that they won‘t be able to go back to the store because the store won’t be getting restocked.
Report Post »TheLeftMadeMeRight
Posted on April 23, 2012 at 10:08amPurchase one ounce of .99% pure silver in bars form at a coin shop, $30.69 each as of this posting. Or you can purchase “junk” silver coins that are 90% silver, a mercury dime is worth about $3.50. Yes you can afford PM today, start small, it adds up quickly.
Report Post »RANGER1965
Posted on April 23, 2012 at 10:20amForget gold, buy a couple silver coins a month. And like the Jedi says slowly stock up on food, ammo, and other supplies. If you can’t afford freeze dried prepared rations, then buy one of the following each time you hit the grocery store/hardware store.
(1) 50 Pound Bag of Dried Beans
(2) 50 Pound Bag of White Rice
(3) 50 Pound Bag of White Flour
(4) 1 Gallon of Honey
(5) 10 Pound Bag of Sugar
(7) Dried Yeast
(8) 10 Pound Bag of Hard Candy (Jolly Rancher)
(9) 1 Gallon of a long lasting oil like Canola oil.
(10) 1 large bottle of Liquor (Like Everclear) (use for trade/antiseptic)
(11) A couple boxes of Ammunition
Except for the oil most of the above will last 4-5 years if kept in a cool dry place. Even longer if you package it correctly. With the above you got beans rice and bread at least which is a good supplement to a garden or some hunting. You will at least be better off than about 98% of people if it hits the fan.
RANGER
Report Post »AmazingGrace8
Posted on April 23, 2012 at 10:55amA close & personal relationship with Our Lord Jesus Christ is more precious than silver or gold. We may be uncomfortable with our physical needs while we are living through these times, however, I know where I am going to spend eternity…..I consider myself to be a very rich woman!
Report Post »God Bless America!
stevewedwa
Posted on April 23, 2012 at 12:30pmI am in the same situation as you Ocalean. But when I was working (there is no work now because of the economy), I bought some gold and silver, guns, ammo, and food storage. I am living on that now because the crisis has already hit me.. I suppose it makes sense to me to wish for the economic collapse for everyone else to happen now. I do not have much spare cash left, and the collapse would make the value of my gold and silver go way up. Making me a little more wealthier than I am now.
Report Post »Tonto Lebowski
Posted on April 23, 2012 at 12:30pmI too am poor, but have been buying small quantities of silver (3-4 oz.) per month for quite awhile. I buy junk silver (generic) @ APMEX.com. I now have a small stash of 1 oz. bullion. I spend around $100 a month no matter what the price is I order every month. It may be a waste of time and money but makes me feel better.
PS. I buy extra food, guns and ammo too. Everytime I finish a bottle of Gilbeys I fill the the empty bottle with filtered water from the fridge.
Report Post »cobbler
Posted on April 23, 2012 at 2:58pmOcalean – the reason to buy gold would be to protect wealth against inflation. If you have no wealth to protect, then you don’t need to worry about buying gold. If, as a retired person, your wealth is your fully paid for home, then inflation is not going to hurt that. If your wealth is a retirement account full of stocks and bonds, then you would be wise to consider the effect that inflation could have on that wealth. If your wealth is your monthly SS check, then just keep praying that everything holds together.
Report Post »altops
Posted on April 23, 2012 at 9:24amRevelation 3:17
Report Post »Because thou sayest, I am rich, and increased with goods, and have need of nothing; and knowest not that thou art wretched, and miserable, and poor, and blind, and naked:
Revelation 3:18
I counsel thee to buy of me gold tried in the fire, that thou mayest be rich; and white raiment, that thou mayest be clothed, and that the shame of thy nakedness do not appear; and anoint thine eyes with eyesalve, that thou mayest see.
Itsjusttim
Posted on April 23, 2012 at 9:14amInterestingly true to a point. Although I find the gold of Heaven more valuable, and it tells me that China will turn the value of gold to ashes.
Report Post »lukerw
Posted on April 23, 2012 at 9:52amTaels of Silver & Gold have been the Standard of Money in the Chinese Culture throughout history!
Report Post »Itsjusttim
Posted on April 23, 2012 at 10:43amlukerw,
Report Post »Mathematics is fascinating isn’t it? In fact where do you think mathematics originated? It originated eastward. But I can tell you don’t really believe in the spirit, and the spirit is also as mathematics in that what happens to one side is reflected in the other side. Now, when people lose their freedom, and become miserable that’s going to reflect in the spirit of China. And people’s interest in gold as valuable will fade away.
lukerw
Posted on April 23, 2012 at 9:07amOnce people realize that… Gold at any Price is a bargin… because your Money is WorthLess paper… then, Gold will SkyRocket!
Report Post »SgtB
Posted on April 23, 2012 at 9:27amSilver is currently the far better option. Sure it may tarnish, but silver and gold have a historically accepted difference in price. This so-called gold to silver ratio is ~ 15 ounces of silver = 1 ounce of gold. If you take the current price of silver ~$30 and multiply by 15, you get that gold should be $450 per ounce. Gold is triple that and so either silver is correctly price and gold is too high (unlikely) or gold is correctly priced and silver is at a bargain price. Either way, you are almost guaranteed not to lose money on the purchase of silver because our inflation rates are skyrocketing and they will continue to do so. In fact, if you have a dime minted before 1964, it is a 1/10 ounce of silver and you can still buy a gallon of gasoline for a dime (~$3 worth of silver).
Report Post »chazmo
Posted on April 23, 2012 at 12:10pmThey won’t.. because of these stupid lines.. “You can’t eat Gold”… Well you can’t get paper dollars/stocks either. jeez people COME ON!! At this point if you are not buying phyzz silver you just don’t get it. Yes FOOD!! YES GUNS/AMMO!!! YES YES YES.. but, when something does go on sale at a store or barter center Silver and Gold will be accepted.. Please read about Zimbabwe. Ok, so let’s say we just crash and burn for awhile.. We’ll since you were smart and exchanged those worthless dollar bills for Physical silver you will be able to get back into the markets at a great exchange, when all is well again. Look at it like this.. IF someday(and we all know this day is coming) the dollar gets replaced by a new currency, history tells us that you will get something like 1 new currency for every 100 Dollar bills. But, Gold and Silver will get you a 1000 new currencies or more.
ON THE OTHER HAND:
Let’s assume Romney gets in and somehow are politicians get smart all of a sudden. American manufacturing ROARS back to life(I actually laughed). Well silver is a heavily used metal for all kinds of production. And it’s in short supply in this bad economy. What do you think will happen to the price of silver?
I want you guys to look at the fundamentals of PM’s. Don’t be flippant with naive comments. Do research.
Report Post »TexasIndependant
Posted on April 23, 2012 at 8:58amSilver is your best buy. Golds not bad but silver is way under priced right now. There is 3 times as much gold around the world as silver, but silver is used in our handy dandy gadgets. game systems. computers, cell phones, those nice new big flat screen TV’s. You get the picture. Even with china probably tripling its silver mining activities it still cant keep up with demand. No one can. Silver supplies are running short and within a year to 18 months silver will start being shipped from the mines straight to the end user. That’s when the price will sky rocket. Its the old supply and demand theory. Get yours while the price is still extremely low. HINT: The Silver Bond Market cant continue to hold the price down much longer.
Report Post »chazmo
Posted on April 23, 2012 at 12:25pmexcellent analysis.. this man does his homework.
Report Post »yathink
Posted on April 23, 2012 at 9:05pmHoly smokes you guys got me freakin out here. NOT. Buy guns, food, ammo, plant a garden. Cann you own veggies, learn some trades. Can you sew, fix an engine, sink a well head, generate some form of electricity, raise food ie chickens, hogs, cattle. Last year Gold almost hit 2000.00 an oz. Silver was just shy of 50.00 bucks an oz. Sold everything waited for it to drop and bought it all back. Whew we. Been doing that for years now. Not scared prepared. If you like Glenn as I do and he got me started. Check out Alex Jones too. It will take every thing in your Blood Sweet and tears to survive this Bull sh t. After we have culled out the commies we can put it back together. But untill then I’ll be prayin for all my country men. God Bless.
Report Post »cabomark
Posted on April 23, 2012 at 8:55amDon’t you worry about a thing Obama , Bernanke and Geitner gonna print mo dat Obama money!
Report Post »Heck we will even let you collect your unemployment check while your trying out your new job.
cloudsofwar
Posted on April 23, 2012 at 8:55amand the gold seller says buy gold. but i do buy silver dollars from time to time, morgan and peace dollars. because i like them and the history. if our dollar becomes worthless it‘s because the country has fallen and it’s every man for himself. i don’t believe that will happen unless there is a nuclear war. then you can have all the gold in the world and it still wont save you. our dollar is backed by the tax payer so vote OBAMA out and save the tax payer and save the dollar and save the COUNTRY for our children and grandchildren.
Report Post »lukerw
Posted on April 23, 2012 at 10:14amI wish you were right… but I fear it is way too late!
Report Post »Wyatt's Torch
Posted on April 23, 2012 at 8:52amToo bad I can only afford to purchase physical aluminum foil for my portfolio.
Report Post »Niferno
Posted on April 23, 2012 at 9:19amI can’t even afford that! Have you looked at the price of aluminum foil?? I stopped using it.
Report Post »Rearden_Metal
Posted on April 23, 2012 at 9:45amCan ya afford lead and brass?
Report Post »lukerw
Posted on April 23, 2012 at 9:45amConsider… borrowing Paper Money… buying Gold… and selling some when it goes up, to pay back the Loan!
Report Post »raderby
Posted on April 23, 2012 at 8:51amChina also is allowing its people to own silver- WHY? It costs the gov’t nothing, and all that silver is right there in the hands of repressed communist society, ready to be scooped up by the gov’t if they need it- cheap bank, huh? Think of all that silver as a big capacitor. Or big well.
Report Post »Teabunny
Posted on April 23, 2012 at 8:44amtiming is EVERYTHING!
Report Post »lukerw
Posted on April 23, 2012 at 10:11amToo TRUE!
Report Post »Snowleopard {gallery of cat folks}
Posted on April 23, 2012 at 8:42amAnyone remember the table Glenn produced of his 15 days til global collapse? Was this not one of the signs of it, China and the price of gold soaring?
Report Post »cloudsofwar
Posted on April 23, 2012 at 9:02amok so what is China going to do with their gold? they need us to buy their products or they will have their own collapse. i think they will use gold to buy oil. thanks to Obama gas will cost us 8 to 10 dollars a gallon. then we will see the Transformation of America Completed. Obama will nationalize the oil companies and we will become a complete socialist country. good night America hello hugo chavez (obama).
Report Post »chazmo
Posted on April 23, 2012 at 12:37pmChina will not need the US to buy anything in the future. They have 1 billion people to sale to in their own country. Not to mention South America.
Report Post »randy
Posted on April 23, 2012 at 8:38amYep and Glenn is an idiot for telling everyone to buy gold right?
Report Post »I don’t think so….. Good call Glenn! Smart man.
cosack
Posted on April 23, 2012 at 10:05ami agree but i will say i wouldnt trade a can of peas for a pound of gold. i would trade 2 cans of peas for a can of spam.
Report Post »chazmo
Posted on April 23, 2012 at 12:19pm@cosack but, would you trade a can of peas for a pound of gold that would by you a sheep, 5 chickens, and a bag of rice?
Report Post »