Gold Hits New Record!
- Posted on March 7, 2011 at 8:01am by
Jonathon M. Seidl
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The unrest in the Middle East just pushed gold to a record high:
(via CNBC)
From Bloomberg News:
Gold climbed to a record in London and New York as escalating violence in Libya and concern inflation will accelerate boosted demand for the metal as an alternative asset. Silver rose to a 31-year high. [...]
“We have a mix of inflation fears and safe-haven buying,” Peter Fertig, owner of Quantitative Commodity Research Ltd. in Hainburg, Germany, said today by phone. “As long as the political unrest in the Middle East and North Africa region continues and oil prices stay at elevated levels,” gold will be supported, he said.
Immediate-delivery bullion rose as much as $12.05, or 0.8 percent, to $1,442.95 an ounce and traded at $1,440.93 at 11:42 a.m. in London. Prices beat the previous high of $1,440.32 set March 2 and gained the past five weeks, the longest winning streak since October. Gold for April delivery was 0.9 percent higher at $1,441 an ounce on the Comex in New York after reaching an all-time high of $1,443.30.
(H/T: Business Insider)
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Comments (137)
drattastic
Posted on March 7, 2011 at 12:25pmGold ,silver sure why not .Guns,ammo,food and water is what you better have if the crap really hits the fan.
Report Post »wifezilla
Posted on March 7, 2011 at 12:11pmI invested in seeds, garden beds and easy to raise small livestock. (OneFunR6, you forgot to add Ducks and Quail to your list.)
I do have coins, but I did not make a special effort to necessarily go out and purchase them. I just sort my change and keep the real copper pennies, all nickels, and silver dimes, quarters and 50 cent pieces. I can’t afford gold, but as many have pointed out, you are going to have to be able to make change somehow :D
Report Post »OneFunR6
Posted on March 7, 2011 at 1:57pmwifezilla –
“(OneFunR6, you forgot to add Ducks and Quail to your list.)”
NOT! roflmao!
I DID ‘forget’ to mention,…
that I live right on a BIG lake?
ps, love that screen name!
Report Post »Larry Hughes
Posted on March 7, 2011 at 12:06pmThe Constitution’s Article 1, section 10 states “No State shall: make any Thing but gold and silver Coin a Tender in Payment of Debts” Obviously the states can determine what is legal tender in the U. S.; as long as it is gold and silver coin. Congress can coin money; while the states cannot. Congress lacks the power to make any thing legal tender (if I’m mistaken please advise ). Therefore, since only the states can make a legal tender of only gold and silver coin; how come we have Federal Reserve Notes and clad coins serving as a tender in payment of debts? Unconstitutional?
Report Post »pschlentz
Posted on March 7, 2011 at 11:49am@PaPatriot
Report Post »I learned a lot of what I know from the National Inflation Association. I know Glenn Beck trusts them. The following is part of their website, it is the the section of their website that gives answers to questions similar to the ones you are asking and much, much more. It is very interesting. They have videos and reports that come out often. They basically have a Q&A section regarding different topics. Check them out:
http://inflation.us/nianswers/
What I will tell you is that if our country continues to self destruct, and it is looking more and more like that every day, you have got to be ready. Hyperinflation is what will ruin the average family. You basically won’t be able to afford the things that you buy every day to stay alive and most will become dependant on the government. THAT is what you want to prevent. Think of things this way, if you are currently working and are paying a mortgage and a car payment, those costs will not go up (unless you have a variable loan). You will continue to pay the same amounts on those bills due. New purchases that you make may become impossible because those will continue to rise. Most of us are not too affected by the slight increases in food, clothing, etc, today, but if the $3 carton of OJ goes to $30 and the 5 lb bag of sugar goes from $3 to $40 and coffee goes from $7 lb to $45 lb, and you can’t even buy beef, chicken or fish (because it isn’t available), NOW THAT WILL CHANGE YOUR LIFE! It will ruin most of us. PREPARE NOW!!!
If you do not have food, shelter, drink, clothing, etc, you will be in trouble. GET THAT FIRST! If you don’t, you will be bartering your Silver and Gold for those items (bad move).
The Gold and Silver you buy will only be used if you must purchase something and the dollar is worth nothing. It is then barter time. You should have yourself in a position to (for instance) to sell someone a lb of coffee for their silver or their gold.
The plan is that the Gold and/or Silver that you buy should be protected and ready to take you into the new currency that will arise out of the US’s self-destruction. It is, basically, the only “currency” that will have value. If the dollar dies, every greenback in your pocket or the bank or the IRA will have little to no value, and I mean that in no uncertain terms. That Gold and Silver will give you the ability to pay off your mortgage and other loans that you may have once calm is re-established. Watch http://www.nia.com, you’ll be glad you did.
PA PATRIOT
Posted on March 7, 2011 at 5:56pmThank You.
Report Post »I am working on changing my portfiolio now.
Your website information was very helpful.
I am a small business man, (basic trade laborer) with a huge overhead. (buildings, cars, trucks, employees bene’s) that have kept me from thinking about gold.
Not any more.
OneFunR6
Posted on March 7, 2011 at 10:18pm“…that have kept me from thinking about gold.
Not any more.”
WOOT!
[one "saved", 329,999,999 to go.......]
Report Post »goatkid
Posted on March 7, 2011 at 11:27amThose of us with not much money have a choice, between stocking up on food, or buying gold. If things get really bad, your gold is not worth as much as my food.
Report Post »WBOB
Posted on March 7, 2011 at 10:45amIn order of importance:
Report Post »Water, food, guns, ammunition, clothing, some sort of fuel, silver, gold,
dnlchisholm
Posted on March 7, 2011 at 10:38am“The Obama Misery Index and the Rise of Obamavilles” is the best blog post I’ve read in a long time. This is why President Obama will be a one-term president! http://mittromneycentral.com/2011/03/07/the-obama-misery-index-and-the-rise-of-obamavilles/
Report Post »123abc
Posted on March 7, 2011 at 10:27amGold will hit $2000 per ounce. Gerald Celente was right.
Report Post »OneFunR6
Posted on March 7, 2011 at 2:04pmIMO, Gold will hit $20,000 per ounce. Gerald Celente is not even close.
Report Post »gunkgy
Posted on March 7, 2011 at 10:18amIf a total collapse happens, gold will be worthless in most cases. Example, you have a bag of gold, no food, just gold. You walk past me and my family as we are eating lunch. You ask to buy a can of spam from us and try to pay us using a sliver of gold. I tell you a sliver of gold is not enough, it will cost 1 ounce of gold per can. Who ever has the items you need, ie… food, clothing, shelter…etc, will be setting the prices. A $1500 piece of gold may only buy a loaf of bread. Better stock up on items that can be traded.
Report Post »mossbrain
Posted on March 7, 2011 at 10:36amYeah like marijuana.
Report Post »schmite123oh
Posted on March 8, 2011 at 11:12amAssuming you are not the last person on Earth with a can of food I’m pretty sure i can find someone who will sell me the can at a more reasonable price, goof ball.
Report Post »Stopit
Posted on March 7, 2011 at 10:14amJust a side note, since the whole world, and particularly the ubber wealthy appears to be stockpiling gold and silver.
The book of James 5:3 indicates that is exactly what is going to happen in the last days.
I know the term “last days” can denote these last two thousand years since Christ ascended, however, I don’t believe so in this context.
“Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.” vs 8
On Christ the solid rock I stand…all other ground is sinking sand.
Report Post »dawg of gawd
Posted on March 7, 2011 at 10:08amLuckily I bought gold from Gold Line when it was just $1000 per ounce. Now if it can just rise up to $1900 per ounce, I‘ll start making a profit when it clears GoldLine’s 90% mark up. Come on, baby.
Report Post »OneFunR6
Posted on March 7, 2011 at 2:58pmDim of Bulb,
even if it goes to $1,900 per ounce, I will still be buying it……
[a fool and his money are soon parted,....... a fool and his gold, not so easily....]
Report Post »griv
Posted on March 7, 2011 at 10:04amTime to stock up on brass and lead. :)
Report Post »OneFunR6
Posted on March 8, 2011 at 11:07amBread, Lead and GOLD,…
in that order!
Report Post »An AmericanMom
Posted on March 7, 2011 at 9:49amHEY WEINER ……Anthony Weiner……..WHERE ARE YOU NOW…..clown!
Report Post »Pawhuska
Posted on March 7, 2011 at 9:03amnotice that Ron Paul is the only guy or gal of the presidentual contenders who speaks about the need for sound money, and the abolishment of the Federal Reserve system! He has said this for years!
Report Post »hownowbrownmao
Posted on March 7, 2011 at 9:36amRon Paul is the only R worth even a second look, he actually has character and is not afraid to tell the truth, I think he scares the crap out of the the other frauds who might as well be demacrats. Go Libertarianism, and welcome home soldiers of foreign wars.
Report Post »NO NO
Posted on March 7, 2011 at 8:54am@ fightingforamerica……..you took the words right out of my fingers! LOL
Report Post »Navymommy
Posted on March 7, 2011 at 8:51amMy mother, God bless her, always bought gold. You could completely wrap my house in the amount of gold chains she owned when she died. She did it because you could always pawn or sell it, it would always hold its value. She was a child of the depression, a high school dropout and when she died six years ago, she was worth over three million. We now hold onto that gold just in case the s**t hits the fan!
Report Post »OneFunR6
Posted on March 7, 2011 at 1:49pmME thinks, me ‘sees’ the title to a nice little French Château…….
in YOUR near future! lol!
Report Post »nomad360
Posted on March 7, 2011 at 8:50amPA PATRIOT, Let me share a site that cover the very question you asked. http://www.mykbgold.us
Report Post »PA PATRIOT
Posted on March 7, 2011 at 9:10amThank You.
Report Post »I will do some research.
nomad360
Posted on March 7, 2011 at 8:48amPA PATRIOT, Let me share a site that cover the very question you asked. http://www.mykbgold.us
Report Post »nomad360
Posted on March 7, 2011 at 8:48amPA PATRIOT, Let me share a site that cover the very question you asked.http://www.mykbgold.us
Report Post »hownowbrownmao
Posted on March 7, 2011 at 8:42amcall me a spoilsport, but I just hate it when crazy boy beck………is right. damnit
Report Post »trilateral-my-ass
Posted on March 7, 2011 at 8:15amLiberal still think Gold is in a bubble. When they finally will wake up and start buying we’ll be selling leaving them with losses. They can only hate Gold that long … until their collective mass consumer instinct finally overcomes their hate … then Gold will be in the Bubble.
Report Post »Fighting4America
Posted on March 7, 2011 at 8:13amkeep walking, nothing to see here people. GLENN is a crazy man and knows nothing that he speaks of!!! REALLY???? Another example of how Glenn gets it RIGHT!!
Report Post »NickDeringer
Posted on March 7, 2011 at 8:11amI remember when people were talking about $1500 gold and everyone laughing. They’re not laughing anymore. The tragedy is we have a POTUS who thinks this is wonderful. “Americans consume way too much” I believe was his refrain during the elections.
Report Post »OneFunR6
Posted on March 7, 2011 at 5:19pm“I remember when people were talking about $1500 gold and everyone laughing. They’re not laughing anymore.”
HINT:
TODAY, a ‘dollar’ is worth a dollar, but tomorrow it has LESS VALUE,…
because there WILL be MORE of THEM. [think – supply & demand]
TODAY, a “dollar’s” worth of GOLD is EQUAL to [x] in weight, but
TOMORROW it WILL have MORE VALUE, if for no OTHER reason than,….
there WILL be MORE of THEM, [U$Dollars] BUT,……….
STILL “only” [x] amount of gold world-wide……….
HOW MUCH WOULD YOU PAY NOW???!!!
[but, WAIT, there’s MORE, much more!
Report Post »for a limited-time only,………]
Ironmaan
Posted on March 7, 2011 at 8:11amWhen bernanke prints, and prints dollars there is only one direction gold can go. Up, up and up.
Report Post »http://guerillatics.com
Snowleopard {gallery of cat folks}
Posted on March 7, 2011 at 8:29amJust watch Soros and the others who have been buying so much of it; when they make the move, then the real chain of collapse will commense with suddeness….Beck did a show of the 15 days that would lead from a collapse to the changing of everything, and it may hit quicker than the time frame he came up with.
Report Post »Ironmaan
Posted on March 7, 2011 at 9:19amSoros buying gold
Report Post »John pulson largest holder of gld ETF
China encouraging it’s populous to buy gold, and they are!
India huge purchaser of gold
The gold miners removing their hedges
Bernanke endlessly printing dollars
All incredibly bullish for gold
Snowleopard {gallery of cat folks}
Posted on March 7, 2011 at 10:03amIRONMAAN, I have discussed this matter of Gold and Silver marketing with a friend at my church and she deals with commodities and investments for a profession; one thing she mentioned almost as a secondary caution is to watch what China and the smaller Asian countries do, when the first of them decides to dump the treasury bonds and such, then in her words “The dominos will start to go down in rapid succession.”
Report Post »OneFunR6
Posted on March 7, 2011 at 1:32pmSnowleopard,
“Beck did a show of the 15 days that would lead from a collapse to the changing of everything, and it may hit quicker than the time frame he came up with.”
MY ‘best’ guess, 7 to 10 days, tops,……..
[are you sitting down?]
IN the next SIX TO TWELVE MONTHS. [there, I’ve gone and said it!]
The ‘financial issues’ we are having, in the US and thus the rest of the world, too….
were NOT by accident or happenstance, IMO.
It WAS by DESIGN.
[and ‘they’ will try/succeed to do it again….]
‘they’ do not want more money, they want POWER,…
thru ‘revolution[s]
Ironmaan – “Soros buying gold…”
BROKER is selling his! HE ‘knows’ something[s] that this Sorros guy doesn’t!
ROFLMAO!
Snowleopard,
“The dominos will start to go down in rapid succession.”
The faster it goes downhill, the faster it WILL go…….. downhill….
Report Post »OneFunR6
Posted on March 7, 2011 at 1:44pmA DOLLAR’S WORTH OF GOLD –
Ironmaan –
“When bernanke prints, and prints dollars there is only one direction gold can go. Up, up and up.”
Once upon a time, there was no such thing as ‘money’…..
The chicken farmer had to carry lots of eggs with him every time he went out to barter for the things he needed, clothes, food, etc.
The miller had to carry all that flour, the baker all that bread, etc.
The ‘first’ monies were, ………………… wait for it………………
coins, made from,……………. precious metals!
How much easier to carry around than lots of eggs, flour or bread! How much easier then to carry around ‘paper money’ with the same value as precious metals, rather than lots of heavy coins.
But,………. similar to the first form of inflation,… the ‘shaving’ of the actual agreed-upon weight of a certain type of coinage, :evil:
and keeping the ‘shavings’,… [not 'savings' :lol:]
and then using those shavings to make ‘new’ coins for one’s own use… :twisted:
When the Bretton Woods Agreement came to an end [1973] and the U.S. left the gold standard, [and then everyone else, too] and our paper money no longer had any direct ties to any ‘real’ commodity, such as gold or silver.
The gold in Fort Knox thus belonged to the U.S. government, but no longer to those people who had U.S. dollars in hand. Now, because no one but the Gov. may print money, by law, but the Gov may print as much as they wish, give it to whomever they wish, and not tell the citizens of this country who they are giving it to, how much they gave them, or even how much they have already printed.
The Federal Reserve is a PRIVATELY OWNED BANK! NOT a U.S. Government entity!
They give out this ‘fiat’ money as they wish, and their friends and business associates use it to buy ‘real’ things, like land, gold, silver, etc., but because this money is ‘funny’, ie, printed by fiat, as the general public feels the effects of this excess entering the market, prices go up, but not before the friends of the Federal Reserve have already spent ‘their’ ‘free’ money AT THE old = LOWER PRICES, while you and I, my friend, must then PAY THE NEW higher = INFLATED PRICES! WHAT A DEAL! WHAT A STEAL!
This IS precisely what the Federal Reserve MEANS by “CONTROLLING INFLATION”. That is, ‘controlling’ it in such a way that they and their close friends
BENEFIT DIRECTLY FROM THEIR ‘MAN-MADE’ INFLATION.
Consider this one small example:
IF a pack of gum cost a nickel in 1913, why then, does it cost so much more today?
Is it because modern production techniques reduce supplies well below demand? [thus raising prices]
Is it because modern chemical/food engineering is unable to create new products and/or new flavors? [thus reducing consumer demand]
Is it because modern transportation systems cannot get the product[s] to the consumer[s] in a timely, cost-effective manner? [thus making gum cost-prohibitive to most]
Is it because modern advertizing has so many more ways and new opportunities to bombard their potential consumer with ads, and at such exponentially reduced costs?
OR…
is it because of INFLATION?
Not ‘price’ inflation by the gum manufacturers, distributors, and retailers trying to gouge all of the consumers for their greater profit[s]….
but, rather INFLATION of the supply of MONEY, by FIAT, by the Federal Reserve, a little more each year, decade after decade, and all the while, WE, the consumers inherently and intrinsically come to know that our money is not worth as much today as it was,… way back when…..
Oh, sure, it’s the ‘housing’ bubble now, but… at what point does it become the ‘gum’ bubble, and we all suddenly come to realize that it’s not the price of gum that is the problem here,…
IT’s the VALUE [or lack thereof] OF OUR MONEY!
There is a reason that it is called “the GOLD standard” and the reason that they don’t like it is because they can’t print more gold!
There is a reason that the more the perceived values of paper monies go down, the values of ‘hard’ commodities go UP.
WHICH BEGS THE QUESTION;
WHICH WOULD YOU RATHER HAVE IN HAND, RIGHT NOW,….
A DOLLAR’S WORTH OF PAPER,…….
OR,…
A DOLLAR’S WORTH OF GOLD?
Report Post »Libertarian
Posted on March 7, 2011 at 6:42pmThere are only two instances that gold can decrease in value. One more likely than the other.
1) Supply in gold rises sharply
2) Value of currency stabilizes
I believe when the world currencies fall, and they will, banks and governments that have hoarded gold will immediately begin to put their supply on the market. This international supply will cause a temporary decrease in the value of gold.
Gold will be used to make big purchases like land, businesses, automobiles, boats etc.. Silver will be used for small commodity trading in local markets.
Report Post »OneFunR6
Posted on March 7, 2011 at 10:10pm1) Supply in gold rises sharply [never happen]
As the price per oz goes up, supply *may* go up as well, BUT….
the SUPPLY will ALWAYS be LIMITED.
2) Value of currency stabilizes [never happen]
Politicians WILL ALWAYS SPEND MORE than they GET……
[unless threatened with death, and they believe that threat]
Libertarian,
There are only two instances that gold MIGHT decrease in value.
One more likely than the other.
1) Something ELSE is ‘deemed’ to be more “valuable” than gold, esp. in a higher rate of return…..[interest], ie stocks, bonds, land values, etc.
2) Value of currency stabilizes – NOT EVEN REMOTELY LIKELY….. [at this point in time]
“I believe when the world currencies fall, and they will, …
banks and governments that have hoarded gold will immediately begin to put their supply on the market.”
WHY?
Why would ‘they’ SELL GOLD, when their GOLD will go through the roof in VALUE, “…when the world currencies fall,…”????
Gold will be used FOR SAVINGS, which MAY then BE USED to make big purchases like land, businesses, automobiles, boats etc.. [TRUTH]
Silver will be used for small commodity trading in local markets. [maybe]
FACT:
One CANNOT USE the same PAPER MONEY for spending AND saving AT THE SAME TIME.
THUS,….
PAPER MONEY for spending and GOLD, REAL PHYSICAL GOLD for SAVINGS.
Report Post »Libertarian
Posted on March 8, 2011 at 12:38pm@OneFunR6
I agree mostly with what you have to say.
Simple supply and demand, currently many banks and governments sit on huge amounts of gold. When gold becomes the fiat currency (assuming this happens), paper will be worth more than the value that is printed on it, they will dip into their reserves creating an unaccounted for “supply” on the market.
Paper with a number printed on it will have no value. I honestly don’t foresee the use of paper currency when we arrive at the inevitable, hyperinflation. A new paper currency may be created but it would have to be from something tangible like land.
Bonds, treasuries and notes will no longer be backed by a paper currency because trust will have been lost. Debt/borrowing/trading will only be backed by tangible assets.
Report Post »OneFunR6
Posted on March 8, 2011 at 1:57pm“When gold becomes the fiat currency….”
GOLD can NEVER be a “fiat” currency…….
Because it CANNOT be printed out of paper nor manufactured out of thin air.
[or even lead, lol!]
“A new paper currency may be created but it would have to be from something tangible like….”
GOLD!
“Bonds, treasuries and notes will no longer be backed by a paper currency because trust will have been lost.”
TRUTH!
“Debt/borrowing/trading will only be backed by A tangible asset” [s].
GOLD!
ONLY gold.
Get some, and hide it away….
[I bet Mr. Beck has!]
Report Post »OneFunR6
Posted on March 8, 2011 at 2:03pm“…, banks and governments [and individuals!] that have hoarded gold will immediately begin to put their supply on the market.”
Yes, they will, BUT…….
“…it would have to be [for] something tangible like land.”
BINGO!
Report Post »OneFunR6
Posted on March 8, 2011 at 2:21pmGOLD for ………… land.
LAND for …………gold.
GOLD for …………gold. [huh???]
One would/will ‘borrow’ some gold [to buy a house? aka-‘land’]
from someone else, like a bank, a family member, etc.
and pay them back [at some point in the future] –
with GOLD.
WHEN you borrow PAPER money [now] from the BANK and then ‘pay’ them back…
LATER ON, with their own INFLATED PAPER MONEY……..
The money you pay them BACK with is,…
WORTH LESS!, than the money they loaned you,..
in the first place! (not counting interest, …)
[get it? “pay them back….” AHH HAHAHAHA! It’s PAYBACK time, boys!!!]
[offer not valid in all fifty states, void where prohibited,…
Report Post »see fine print below for offer details!]
OneFunR6
Posted on March 8, 2011 at 3:34pm“Gold is money and nothing else”. – JP Morgan
Report Post »Libertarian
Posted on March 8, 2011 at 4:18pmMy mistake.
Fiat was a mistype, I meant world.
Your writing style is very odd, hard to follow. I can’t tell if you agree/disagree with my assertion that when banks and governments begin to liquidate their holdings of gold through loans etc… that the price of gold will briefly decline.
Report Post »OneFunR6
Posted on March 8, 2011 at 7:12pm“Fiat was a mistype, I meant world.”
Ko, makes perfect sense…
“Paper with a number printed on it will have no value”
Paper with a number printed on it WILL have [A] value, IF it is “backed” by something…
OTHER THAN “the full faith and credit of the …
[insert name of favorite/least favorite gov. here, aka -] United States Government”.
ie, GOLD.
“When gold becomes the WORLD [reserve] currency…”
“ (assuming this happens),…”
It already IS a world reserve currency, which is WHY ALL Central Banks have some!
[and… trade it amongst themselves!] One can BUY gold in [almost] any currency printed today!
“when banks and governments begin to liquidate their holdings of gold through loans etc…”
liquidate?,… umm, how about we say “make available for loan”….
“…that the price of gold will briefly decline.”
the price of gold? ,umm priced it what, exactly?
It is GOLD!? All ELSE will be “priced” in IT? Yes?
“… will briefly decline.” Well, the ‘value’ of everything fluctuates over time….?
“… when banks and governments begin to liquidate their holdings of gold through loans etc… that the price of gold will briefly decline.”
“I can’t tell if you agree/disagree…”
Well, I DO agree that AFTER the ‘value’ of gold PEAKS, …
there WILL be a decline, but probably not briefly, but rather more ‘permanent’ as the markets become/return to more/greater stability…. and everybody fig.s out that GOLD will be here to stay….
AND everyone agrees to a baseline VALUE for gold, as measured agains other thngs, like paper money, land, etc., BASED ON where those ‘things’ are coming from, ie. paper money for Russia, land in France, and so on….
“Your writing style is very odd, hard to follow.”
Lol! Sorry, but I HATE the text editor they make us use here, there ARE much better one’s available….
I’m just trying to keep very complex ideas to as short a post[s] as possible….
Report Post »not that it’s really possible, but I do try… rof!
OneFunR6
Posted on March 8, 2011 at 7:23pm“Your writing style is very odd, hard to follow.”
A BIG part of the problem IS, that too many people give the same meanings to different words,
words that can/should have VERY different connotations, SUCH AS:
‘price’ VS. ‘value’; ‘inflation’ VS. ‘higher prices’; ‘currency’ VS ‘money’; ‘fiat money’ VS. ‘savings’
also, there is NO way to edit OR preview HOW the text posted will actually appear in the web-site….
thus all of the damn crazy line-breaks…. *hangs head* – *sobs*
*sighs* Oh, well……..
Report Post »Libertarian
Posted on March 9, 2011 at 3:41pmTake care,
Great conversation.
Report Post »afishfarted
Posted on March 7, 2011 at 8:09amnot to mention silver. It’s pushing $37. And 6 mothis ago, several anaylists stated that when silver hits 30 and stays above it, hyperinflation is just around the corner.
Report Post »Hang on kiddies, we’re in for a helluva ride
PA PATRIOT
Posted on March 7, 2011 at 8:13amHow will Gold at $1443.00 help me buy a 5 dollar loaf of bread? Do we shave off 1/288.6th portion of that ounce to pay for it? Can someone help me here?
Ironmaan
Posted on March 7, 2011 at 8:14amThe folks better start shifting into hard assets and get out of cash, cause the value of the dollar is evaporating before our eyes.
Report Post »http://guerillatics.com
Snowleopard {gallery of cat folks}
Posted on March 7, 2011 at 8:22amHyperinflation and economic chaos and collapse are approaching indeed; the forest is on fire and the fire team of the administration is dancing like a bunch of pyromaniacs awaiting the final collapse of the country. We need to move now to save this country before they destroy it in a scorched earth move when they understand their nightmare dreams have failed.
Report Post »Cobra Blue
Posted on March 7, 2011 at 8:27amIronMaan
You are so right! Hard assets i.e. commodities is the best investment. I know well respected businessmen who have given there top investment strategy (note: the order does not matter…just got some of all or whatever you can afford)….GOLD, SILVER, COPPER (future increase potential), FOOD, WATER, FUEL, GUNS and BULLETS. There you have it folks. Your top (8) investments for 2011 and beyond from people that have a lot more money and wisdom than I do. No paper.
Report Post »PA PATRIOT
Posted on March 7, 2011 at 8:37am@ Cobra,
Say I am well equipped with a major portion of the list of commodities and hard assets except for precious metals.
What or how will gold replace the dollar or other form of currency? Are you going to melt it down into smaller increments? I do not believe that option will help me purchase (barter) on the black market. I want my assets in my posession, Guns and ammo will do the talking. Call me naive but I am just not getting the overall value of gold. HELP
PA PATRIOT
Posted on March 7, 2011 at 8:38am@ Cobra
Report Post »Please put it in layman’s terms. I am no economist. I am a tax paying laborer.
gramma b
Posted on March 7, 2011 at 8:40amAnd, a year ago, the Left was attacking Glenn for pushing gold, and calling him a doomsayer.
Report Post »tobywil2
Posted on March 7, 2011 at 8:44amINFLATION – STEALTH TAXATION:
The tyrants (Wannabe Peers) would have you believe that taxes are only increased when the legislature increases taxes. These tyrants use the confusion over the relationship between wealth and the medium of exchange (money) to perpetuate this myth. Actually, the tax on the economy rises whenever the government s increases spending. Tax laws just determine how the liability is distributed. If the taxes fail to cover expenses, the value of the dollar decreases and anyone who owns money pays the tax in the form of loss of purchasing power. Money, (paper money) has no intrinsic value. The dollar’s value is determined by the quantity of wealth the market is willing to exchange for the dollar. The dollar’s value eventually will be determined by the nation’s wealth divided by the dollars and credit in circulation.
Inflation is not a recent phenomenon. During the 19th Century the inflation rate in the United States was 12% for the entire Century. In 1800, $0.89 had the purchasing power of $1.00 in 1900, a change of about 12% in 100 years. From 1900 to 2007 the inflation rate was about 25 to 1, a change of 2500% in 107 years. A Google search lists over 20 pages of “inflation calculators” three of the most popular inflation calculators list the inflation rate of between 24.6 and27.71 from 1900 and 2007. In other words, $1.00 in 1900 was worth around $25.00 in 2007.
What happened? In the late 1800’s and early 1900’s four factors emerged that caused inflation to increase. These are:
• Creation of the “Fourth Branch of Government” the Bureaucracy
• Enacting and enforcing the Sherman Antitrust Act.
• Creation of the Federal Reserve
• Enacting the income tax
• Wars
How did these factors cause such erosion in the value of the dollar? Chapter 9 of “21st Century Common Sense” explains in simple terms how these factors produced inflation of the dollar and aided the “Wannabe Peers” in usurping our freedom. The book “Money Mischief” by Milton Friedman provides a complete history of inflation, the causes and the consequences for those who require more proof. http://commonsense21c.com/
Report Post »afishfarted
Posted on March 7, 2011 at 8:44amPA Patriot
Yeah, you’re right. 1500 gold won’t buy you a tank of gas. That’s where silver comes in. When the economy collpases ,the average joe will have to have something of value–gold or silver–to trade / barter with. A silver dollar goes for about 40 busk now, give or take the grade and such. And if you have a 40 dollar piece of silver to buy 30 bucks of gas, change can be made with smaller silver denominations. Sorta like our forefathers used to do.
Report Post »The whole thing is a tragic indicator of the wreckless spending of both parties for the last few decades.
What did Rev Wright say? Seems that stuck in Obie‘s head and is using it to it’s fullest
PA PATRIOT
Posted on March 7, 2011 at 8:56am@ A FISH
Good name as I love to fish here in PA.
Good Point! Silver would then be a better hard asset to own because of two factors.
1. Easier to use for commerce.
2. Less exposure to loss.
I cannot see the value in buying gold, the value then goes to $1999.00, and then sell it off for dollars which people say will be worth nothing.
I just checked out IRONMANS site at http://guerillatics.com/?p=573
Which says that the US Government will CONFISCATE GOLD AT $2000.00 per ounce.
I am a very conservative investor and have reduced my exposure in the stock market to less than 5 percent of my wealth. Unfortunately I did it prior to the 2010 election and missed a great run, but hey, I know I am safe.
Report Post »sleazyhippo
Posted on March 7, 2011 at 8:57amI missed the announcement because I was doing my own research on-line and purchasing Gold coins over an 800 number. In the middle of all this the doorbell rang; my guns arrived FedEx with my diet pills and first selection of freeze dried survival food.
Report Post »Being that one of the Blaze’s chief advertisers is the Gold retailers. The headline misleads the readers who get a sales pitch under the guise of news.
Tridentine Catholic
Posted on March 7, 2011 at 8:59amA person can buy gold by the gram in sealed tamper-proof cards the size of a credit card. This method is for barter. It is quite affordable. At the current price a gram of gold is about $46.46.
Report Post »PA PATRIOT
Posted on March 7, 2011 at 9:05am@sleazyhippo
Report Post »Sorry but you cannot get fed ex to deliver firearms directly to your house, unless of course you have an FFL license. I would bet the house that you do not know what that is.
rodamaa
Posted on March 7, 2011 at 9:09amEveryone, the time has come to prepare or perish. I hope we’re all getting ready
Report Post »Cobra Blue
Posted on March 7, 2011 at 9:12amPA Patriot
You and I are in the same boat i.e. tax paying laborer. (Note: All the info below is from people who have more wisdom and/or experience than I. Not my opinion unless noted.) Gold and silver basically to protect any accumulated wealth for the future. In short…out with paper…in with gold and/or silver (if possible). As explained to me you are protecting your wealth for down the road if and when there is a recovery. Then you would convert to currency…whatever that may be. For exchange value or purchasing power (i.e dollar value) in our economy that’s not going to happen anytime soon if ever. The rest of the items are for preparedness and/or barter when the time comes. Especially guns and bullets. I have all the items with the exception of gold and silver. In my opinion (and I emphasize “my”) I think we will see a time in the not so distant future when you will be able to turn lead into gold. By that I mean having something others need. I think a lot of people are thinking purely in terms of dollars, and ignoring the basics i.e. food, water, fuel, etc. When the time comes and you need to protect yourself gold and silver want do you much good. …..soooo you find someone with extra guns and bullets and make an exchange. One last point: I have a very good friend who defected to America from Romania 22 years ago. He has lived through all of this before. His recommendation. Get Ready FAST. GET PREPARED. Make sure you have food, water, clothing and can PROTECT yourself and property. With regards to money, he said you want need it. It will have very little value.
Report Post »AzDebi
Posted on March 7, 2011 at 9:16amJust went to Insider Extreme…Glenn is off this week?
Report Post »PA PATRIOT
Posted on March 7, 2011 at 9:19am@AzDebi
Report Post »He is preparing his home this week, or taking a break in the Carribean:)
AzDebi
Posted on March 7, 2011 at 9:22amHere’s one for you…was making chicken enchiladas last night for dinner…needed to run and get a couple cans of Hatch’s Green Chili Sauce…know how much I paid PER can? $3.85…can you believe it? First thing I thought was, “Is this an imported product?”…Nope…Hatch’s Chili Company is out of New Mexico! Have to tell you…with the add’l $7.00 cost for those two cans, I REALLY savored each and every bite!
Report Post »GhostOfJefferson
Posted on March 7, 2011 at 9:23am@PA PATRIOT
“Say I am well equipped with a major portion of the list of commodities and hard assets except for precious metals.”
Um, ok…
“You are well equipped with a major portion of the list of commodities and hard assets except for precious metals!”
“What or how will gold replace the dollar or other form of currency? Are you going to melt it down into smaller increments? I do not believe that option will help me purchase (barter) on the black market. I want my assets in my posession, Guns and ammo will do the talking. Call me naive but I am just not getting the overall value of gold. HELP”
In a short term melt down, you are correct to wonder about things like this. Gold (nor any other metal commodity) will do nothing and buy nothing, really, when there is chaos in the streets or a mushroom cloud over DC. Where they play an important role is in helping you establish yourself in whatever new economy rises up after the whirlwind has been reaped and passed. We ran on a gold/silver standard at one time, and it was good and true, the same can happen again. The general thought I think is that you can deposit the gold/silver into a “new” banking system that gives you receipts for your deposits, which you can then trade (the receipts). The receipts are demands for gold/silver in a given quantity, and redeemable at the bank for their face value. Just as an example.
Report Post »Stuck_in_CA
Posted on March 7, 2011 at 9:51am@PA PATRIOT
Report Post »“How will Gold at $1443.00 help me buy a 5 dollar loaf of bread? Do we shave off 1/288.6th portion of that ounce to pay for it? Can someone help me here?”
SILVER COINS
PA PATRIOT
Posted on March 7, 2011 at 10:23amGhostOfJefferson
Report Post »Ok, Would this then resemble the “$10.00 Silver Certificates that were issued from 1933 to the mid 1960′s with the term “payable on demand” ? So this is not for the here and now, nor for during the time of chaos, but for times of reconstruction. Alfter the fires are extinguished.
10K rounds enough?
Snowleopard {gallery of cat folks}
Posted on March 7, 2011 at 10:37am@AZdebi
Have read your post on the prices having gone up for the enchiladas you were making; I have seen them going up slowly for over a month now, and even some of those progressive dingbats have been complaining about it.
I do not know if you listen to AZ radio stations – on Sat and Sun evenings KTAR has the J Laurance show, one of the progressives I deal with, Robert, often comes on there and shows off the utter levels of ignorance held by many of the progressives.
Check out the podcasts for Laurance sometime if you never had, they are interesting on the various topics he covers, and he is a conservative who tries to allow all sides their fair time so people can make up their own minds.
Report Post »Cobra Blue
Posted on March 7, 2011 at 10:39amPA Patriot
10K rounds is a good start. Self-Reliance. Be safe.
Report Post »OneFunR6
Posted on March 7, 2011 at 10:52amTo all above with questions about gold/silver/the future of money….
I am intending to get my master’s in Economics, b/c…….
the one’s we have now will ALL soon be shot………..
After the death of Alexander the Great,
“The class war had become bitter beyond control, and had turned democracy into a contest in legislative looting.”
~ Will Durant, The Story of Civilization, Book II, The Life of Greece, (p.554), Copyright 1936, Simon and Schuster.
“We hang the petty thieves and appoint the great ones to public office” – Aesop
1. In a truly FREE-market, the CONSUMER is SOVEREIGN.
“The distinctive principle of Western social philosophy is individualism. It aims at the creation of a sphere in which the individual is free to think, to choose, and to act without being restrained by the interference of the social apparatus of coercion and oppression, the State.”
“What vitiates entirely the socialists’ economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.”
“However, one does not exhaustively describe the sweeping changes that capitalism brought about in the conditions of the common man if one merely deals with the supremacy he enjoys on the market as a consumer.”
- Ludwig von Mises – http://mises.org/articles.aspx
2. Socialists, Communists, and Fascists ALL HATE this idea/concept!
‘They’ want to tell YOU [and me] EXACTLY what WE can buy, when we can buy it,
AND MOST importantly, HOW MUCH WE PAY, and WHO we MUST buy ‘it’ FROM!
[why, ‘their’ “friends”, of course….]
3. ‘They’ LOVE “democracy” BECAUSE through the RE-distribution of OUR wealth,‘they’ are BUYING OTHER PEOPLE’S VOTES. [SOMETHING FOR NOTHING.]
4. The Banksters are ‘allowed’ [by the politicians] to print OUR money, BECAUSE…
the Banksters then get some money for free, and the politicians, GET TO BUY PEOPLE’S VOTES.
[as long as the Gov. can sell Gov. bonds, et. and increase the NATIONAL DEBT,………
OVER AND OVER AGAIN AND AGAIN, can you say “raise the debt ceiling, please….]
5. GOLD will become the de-facto monetary standard for SAVINGS,
“The gold standard makes the money’s purchasing power independent of the changing ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.”
- Ludwig von Mises – http://mises.org/articles.aspx
THE GOVERNMENT CANNOT PRINT MORE GOLD.
The Government WILL GO BANKRUPT.
There WILL be HYPERINFLATION.
[b/c of all of the printing that has ALREADY HAPPENED,……..
and……… IS CONTINUEING EVEN NOW…$75 BILLION A MONTH!!!!!!!!!!!!!!]
It’s has NOT worked,[T.A.R.P. – Spenduless, etc]
It IS NOT working, right NOW,……
It WILL NOT WORK,……… PERIOD.
So, they will CONTINUE to PRINT, until it completely FAILS,………
In the future, one will get a paycheck [in a new form of “paper” money, deposit the check, check their budget to figure out how much of the NEW “paper” money they will need to buy food, etc. FOR THE NEXT WEEK OR TWO/until they get their next PAPER check of PAPER money, and then……..
IMMEDIATELY BUY GOLD with anything they have LEFT OVER……….
PA PATRIOT
Posted on March 7, 2011 at 8:13am
“How will Gold at $1443.00 help me buy a 5 dollar loaf of bread? Do we shave off 1/288.6th portion of that ounce to pay for it? Can someone help me here?”
AFTER T.S.H.T.F.,……….. and UNTIL the “new” PAPER money is AGREED UPON,…..
You WILL need to MAKE YOUR OWN BREAD, or BARTER, one loaf of bread for TWO EGGS, etc.
You WILL NEED to OWN PHYSICAL gold AND silver to PAY for things you CANNOT barter for, like………..
GOING TO SEE A DCOTOR, after the hospitals are all closed.
WHEN [not IF] the US DOLLAR goes up in FLAMES…..
GOLD [silver, not so much, but some] WILL RE-ADJUST to…..
its NEW status as the ONLY ‘reserve’ currency IN THE WORLD………
$10,000/oz?
$20,000/oz?
$50,000/oz?
$100,000/oz?
No one can know for certain, but, it WILL be by A LOT.
The ‘concept’ is called ‘FREEGOLD’ – it MEANS an ABSOLUTE END to PAPER GOLD
[contracts, ETF and all of the like]
PHYSICAL GOLD, ONLY, WILL BE TRADED, NO ‘PAPER’ GOLD.
GET YOU SOME NOW while it’s STILL “cheap”…….. [silver, too, btw]
To REALLY learn more – YOU MUST READ!
You MUST educate YOURSELF, b/c there is NO ONE ELSE to do it for YOU!
Gold is Money – Part 1 http://fofoa.blogspot.com/2009/10/gold-is-money.html
Report Post »Gold is Money – Part 2 http://fofoa.blogspot.com/2009/10/gold-is-money-part-2.html
Gold is Money – Part 3 http://fofoa.blogspot.com/2009/10/gold-is-money-part-3.html
OneFunR6
Posted on March 7, 2011 at 10:59amPA PATRIOT,
“I cannot see the value in buying gold, the value then goes to $1999.00, and then sell it off for dollars which people say will be worth nothing.”
YOU WILL “need” GOLD, to BUY those things that cannot be BOUGHT with “dollars worth nothing.”
“I just checked out IRONMANS site at http://guerillatics.com/?p=573
Which says that the US Government will CONFISCATE GOLD AT $2000.00 per ounce.”
I do NOT think they will try this, b/c I do not think ‘they’ can get away with it THIS TIME.
Report Post »IF ‘they’ try to do this, many, such as myself, WILL be ‘exchanging’ our ‘lead’ rather than OUR GOLD.
broker0101
Posted on March 7, 2011 at 11:02amAnother B.S. attempt to cause panic (and sell gold, of course) by Glenn Beck. The inflation adjusted high for gold is about $2400/oz set on 01/21/1980. Once again, Glenn misleads his gullible disciples for his own monetary gain. Completely dishonest, disingenuous and, frankly, Slimy. Especially since he his trying to sell you gold by implying that it’s price keeps pace with inflation. What a Scumbag! If I told lies like this over the airways, my licenses would be revoked and I’d likely be in jail. Unfortunately, one doesn’t need any licenses to claim to be a Prophet. Just a sharp tongue and Brass Balls.
Report Post »OneFootRandy
Posted on March 7, 2011 at 11:02amYou know, I wish Glenn’s staff would analyze this market a lot more for Blaze readers. Precious metals are on a tear mostly due to quanitative easing across the world, looming defaults of municipal debts and even perhaps some sovereign debt.
Silver in addition to these factors driving it up has a market manipulation from a few key players that have been artificially keeping the price of silver down by nakid selling a short position. That position is now under squeeze as bullion inventory levels are at an all time low and more people are demanding delivery of those silver orders they have made in the past.
That means thos nakid short sellers will become buyers to meet the promises they made when they sold the contracts. Can you guess what happens to a commodity when the largest sellers of it become the largest buyers of it? This has already happened in part with China around 5 years ago exporting over 100 million ounces a year and as of last year it imported over 100 million ounces. Thats well over a 200 million ounce swing in a market that only produces around 900 million ounces from mining operations a year.
Buy silver, physical silver, take possesion of it, dont mess with ETFs.
Report Post »OneFunR6
Posted on March 7, 2011 at 11:10amCobra Blue
Posted on March 7, 2011 at 9:12am
“When the time comes and you need to protect yourself gold and silver [will not] do you much good. …..soooo you find someone with extra guns and bullets and make an exchange.”
You WILL need Gold AND Silver, you MAY also NEED guns and ammo to protect yourself, your family, your friends, and your neighbors….
You MUST have you OWN FOOD.
You MAY also NEED guns and ammo to protect YOUR FOOD,
FROM………… your family, your friends, and your neighbors….
“One last point: I have a very good friend who defected to America from Romania 22 years ago. He has lived through all of this before. His recommendation. Get Ready FAST. GET PREPARED. Make sure you have food, water, clothing and can PROTECT yourself and property. With regards to money, he said you [won’t] need it. It will have very little value.”
“With regards to money, he said you [won’t] need it. It will have very little value.” TRUTH
“Make sure you have food, water, clothing and can PROTECT yourself and property.”
1. Guns AND ammo – [a lot, buy/sell/trade]
2. FOOD – [a lot, buy/sell/trade]
3. Gold AND silver – [a lot, buy/sell/trade]
4. LIVESTOCK – get chickens, goats, rabbits = meat & eggs, meat & milk/cheese& fur, meat & fur
All of these require less food and space compared to cattle.
Report Post »GhostOfJefferson
Posted on March 7, 2011 at 11:11am@PA PATRIOT
“Ok, Would this then resemble the “$10.00 Silver Certificates that were issued from 1933 to the mid 1960′s with the term “payable on demand” ? So this is not for the here and now, nor for during the time of chaos, but for times of reconstruction. Alfter the fires are extinguished.”
That sounds about right, the way I’m thinking, yes. Only fools would trade silver/gold during the actual violent parts of a civil war/revolution/uprising. Gold/silver are for preserving wealth only in their current incarnation. Just my take. I own plenty of silver and some gold, but I would not be trading it/exchanging it until after any kind of hypothetical uprising.
“10K rounds enough?”
That’s a good start. Assuming you have a way to preserve food, provide heat in the winter, filter water to make it potable in a long term way, non-hybrid seeds to grow food and some source of hunting/fishing that will NOT be wiped clean by everybody else who will also be starving.
Report Post »AzDebi
Posted on March 7, 2011 at 11:30am@Snowleopard:
Thanks for the info…yep…listen live but more often I download podcasts and listen while I‘m workin’ horses during the day…No, I‘ve never listened to him but I’m gonna do a search and find it…Thanks again! Keep The Faith!
Report Post »OneFunR6
Posted on March 7, 2011 at 11:32amOneFootRandy,
“Buy silver, physical silver, take possession of it, don’t mess with ETFs.”
AND tell EVERYONE you MEET to do the SAME.
There is NO OTHER CHOICE.
Ironmaan –
“When bernanke prints, and prints dollars there is only one direction gold can go. Up, up and up.”
‘THEY’ can PRINT …………….. MORE OF ANYTHING………………… made of PAPER!!!!!!!!!!!
MORE paper U$Dollars, MORE paper Rubles, MORE ETF shares, MORE futures contracts,..
ALL PAID BACK/OUT IN PAPER U$DOLLARS…….
thus FREEGOLD……….
GhostOfJefferson,
“The general thought I think is that you can deposit the gold/silver into a “new” banking system that gives you receipts for your deposits, which you can then trade (the receipts). The receipts are demands for gold/silver in a given quantity, and redeemable at the bank for their face value. Just as an example.”
YES, BUT…………..
at FREEmarket PRICE PER OZ, NOT a “FIXED” “gold” STANDARD!
IE-
Need to buy a house? Have 12 oz @ $27,500/oz? [= $330,000]
House costs $275,000? Want to use only 7oz of YOUR gold? [ = $192,500]
You will need to borrow SIX OZ OF GOLD. [@ a ‘current’ VALUE of $165,000]
You will NOT make payments in PAPER, but in GOLD……..
You will pay when you WANT to,… gold ‘price’ goes down = you pay more per month/yr/etc.
gold price goes up = you pay less per month/yr/etc.
IN THE END, you will pay IN GOLD, over a given time frame, or maybe just whenever….
BUT, you will pay IN GOLD! [NOT PAPER!]
it’s a bit hard to explain/make this all clear in just a week or two, ROF!
PS, I do NOT claim to be ‘expert’, just trying to spread the word…
The ‘concept’ is called ‘FREEGOLD’ – it MEANS an ABSOLUTE END to PAPER GOLD
[contracts, ETF and all of the like]
To REALLY learn more – YOU MUST READ!
You MUST educate YOURSELF, b/c there is NO ONE ELSE to do it for YOU.
Gold is Money – Part 1 http://fofoa.blogspot.com/2009/10/gold-is-money.html
Report Post »Gold is Money – Part 2 http://fofoa.blogspot.com/2009/10/gold-is-money-part-2.html
Gold is Money – Part 3 http://fofoa.blogspot.com/2009/10/gold-is-money-part-3.html
PA PATRIOT
Posted on March 7, 2011 at 11:35am@ ghost and Onefunr6
Any idea on how many increments of each silver and gold?
Or is it how much can I buy? What percentage of your paper would you exchange for silver and gold?
Since I live on the east coast, I would imagine many more instances of disturbance than those who live in the Midwest.
We may be naive, but that is why we Pennsylvanians cling to our guns and Bibles.
Report Post »Anonymous T. Irrelevant
Posted on March 7, 2011 at 11:36amAnd there are people in this Administration that think we shouldn’t be tapping into our domestic reserves of oil. We need to be drilling, baby, drilling! Screw the OPEC speculators. I keep telling my wife that we need to stock up and store food in the basement, but she thinks I am crazy.
Report Post »OneFunR6
Posted on March 7, 2011 at 11:36amgramma b
“And, a year ago, the Left was attacking Glenn for pushing gold, and calling him a doomsayer.”
Ironically, if you read my posts above and read about the FreeGold concept, I really don’t think that the ‘antique/collectable gold coins that Glenn says he is buying, will be going up in VALUE as much OR as FAST as plain old gold WILL…..
Report Post »OneFunR6
Posted on March 7, 2011 at 11:53amOneFootRandy,
“Buy silver, physical silver, take possession of it, don’t mess with ETFs.”
PA PATRIOT
“@ ghost and Onefunr6
Any idea on how many increments of each silver and gold?
Or is it how much can I buy? What percentage of your paper would you exchange for silver and gold?”
I HAVE bought some of EVERYTHING, ROFLMAO!
American GOLD Eagles, and South African Krugerrands, in 1/10 – ¼ – ½ and 1oz
American SILVER Eagles are only in 1oz size.
South African Krugerrand’s ARE ‘cheaper’ BUT they don’t say “made in the U.S.A. on them!]
The smaller the coin sizes, the higher the markup, [see prices below] AND Bullion Direct charges 1% per transaction, plus shipping [insured].
I believe that I have seen these people have advertized on the Blaze…..
the “E-Bay” of gold…….. [Gold, Silver, Platinum, and Palladium!]
[wtf IS Palladium?, lol!]
http://www.bulliondirect.com/nucleo/
Nucleo Exchange
Nucleo™ is a real-time, real order exchange invented, developed, and administered by Bullion Direct, Inc. Nucleo’s order-matching system allows members, large or small, to place real orders for real products in a real-time environment (24/7) – anonymously (except to Bullion Direct, of course)!
Symbol Description Bid Ask
SIAE001 American Eagle Silver Coin (1.000 oz.) 38.55 39.59
http://www.bulliondirect.com/nucleo/showProducts.do?cat=Gold_Bullion&category=3
Bullion: Gold
Symbol Description Bid Ask
GCAB100 American Buffalo Gold Coin (1.000 oz.) $1,463.01 $1,592.00
GCAE010 American Eagle Gold Coin (0.100 oz.) $155.00 $158.88
GCAE025 American Eagle Gold Coin (0.250 oz.) $369.00 $400.00
GCAE050 American Eagle Gold Coin (0.500 oz.) $740.00 $773.00
GCAE100 American Eagle Gold Coin (1.000 oz.) $1,480.00 $1,485.00
GCSK010 S. African Krugerrand Gold Coin (0.100 oz.) $152.12 $159.99
Report Post »GCSK025 S. African Krugerrand Gold Coin (0.250 oz.) $365.00 $378.00
GCSK050 S. African Krugerrand Gold Coin (0.500 oz.) $711.00 $760.00
GCSK100 S. African Krugerrand Gold Coin (1.000 oz.) $1,450.00 $1,480.00
OneFunR6
Posted on March 7, 2011 at 12:05pmPA PATRIOT
“@ ghost and Onefunr6
“Any idea on how many increments of each silver and gold?”
IMO, I’m holding about 25% in sliver and 75% in GOLD.
“Or is it how much can I buy?” YES.
“What percentage of your paper would you exchange for silver and gold?”
NONE.
[well, just enough to pay your bills……….]
EVERYONE should think of it like this,……..
It’s a game of musical chairs….
NO ONE knows WHEN the ‘music’ WILL stop,… [but it WILL]
The Bankster’s are taking away the chairs
[while telling us that there are PLENTY of them….]
and the FED is SPEEDING UP the ‘pace’ of the ‘music’……….
UNTIL, in the end, the ‘music’ player ‘breaks’, and no one will ‘listen’ to it/them anymore…
[the money [‘our’ money] becomes worth less and less, until it IS COMPLETELY WORTHLESS!]
“Since I live on the east coast, …”
As do I.
“I would imagine many more instances of disturbance than those who live in the Midwest.”
As do I.
“We may be naive, but that is why we Pennsylvanians cling to our guns and Bibles.”
As do I.
rof!
Report Post »PA PATRIOT
Posted on March 7, 2011 at 12:23pmOnefunr6
Report Post »THANK YOU
great advice.
I have a much clearer idea of how this works.
OneFunR6
Posted on March 7, 2011 at 12:26pm“What percentage of your paper would you exchange for silver and gold?”
PA PATRIOT, I meant to say WAS…..
ALL OF IT.
Cobra Blue –
“One last point: I have a very good friend who defected to America from Romania 22 years ago.”
“With regards to money, he said you won’t need it.”
“IT WILL HAVE VERY LITTLE VALUE.”
AFISHFARTED – “Hang on kiddies, we’re in for a helluva ride…”
WATCH THE PRICE OF GOLD. And……
WHEN the people who HAVE IT, start REFUSING to SELL IT,…… ‘cheap’
the people who NO LONGER WANT to have/hold PAPER money, of ANY kind….
and want ONLY physical GOLD,……. WILL OFFER UP ANY PRICE THEY CAN PAY…….
and STILL the people who HAVE IT, WILL REFUSE to SELL IT,…… AT ANY PRICE.
WHEN “it” is all “over”,.. those [all/nearly all] ‘paper’ “things” WILL BE WORTHLESS,…
[or nearly so]
NOW, how MUCH will ‘THEY’ be WILLING to PAY for REAL, PHYSICAL GOLD?
REMEMBER, [all/nearly all] ‘paper’ “things” WILL BE WORTHLESS,… [or nearly so]
For an Ounce of MY GOLD?
NOT for # gazillion SpaceBucks….. but,…
Title to YOUR French Château……. I ‘might’ consider it.
Report Post »sleazyhippo
Posted on March 7, 2011 at 12:30pmPA Patriot – ROTGML-PMS!!! LOL
Report Post »Title 1 Eastern States Making bets on internet is silly – so
Where is the house? Are you going to deliver it or just make the title available? Any Liens?
My preference would be to have you donate the liquidated value to the US General Fund for reducing the deficit
Have a great day
PA PATRIOT
Posted on March 7, 2011 at 12:50pm@ Sleazyhippo
Sorry but I am older than 25 and do not understand jibberish.
“PA Patriot – ROTGML-PMS!!! LOL”
The truth is I am debt free… worked very hard to do it.
Report Post »Not like our GUBBERMENT
OneFunR6
Posted on March 7, 2011 at 1:07pmPA PATRIOT,
“The truth is I am debt free… worked very hard to do it.”
Dayumz,… not me! ROF!
I ‘spend’ it ALL,…… “… like our GUBBERMENT”
[bills, food, clothes, ammo, …. whatever is left, GOES INTO GOLD [and silver].
Broke? Nope!
Bought US Silver Eagles @ $21.00/oz
Symbol Description Bid Ask
SIAE001 American Eagle Silver Coin (1.000 oz.) 38.55 39.59
Bought US GLOD Eagles @ $1,250.00/oz
Symbol Description Bid Ask
GCAE100 American Eagle Gold Coin (1.000 oz.) $1,480.00 $1,485.00
AND I’M STILL BUYING…………
Latest purchase[s]? – 1os Krugerrand[s] @$1,360.00
Todays price?
Symbol Description Bid Ask
GCSK100 S. African Krugerrand Gold Coin (1.000 oz.) $1,450.00 $1,480.00
Yep, still buying…….. CHEAP!
[compared to what's to come.......]
stupidhippo
“Thinking is the hardest work there is, which is probably the reason why so few engage in it.”
Report Post »- Henry Ford
OneFunR6
Posted on March 7, 2011 at 1:19pm“WHEN [not IF] the US DOLLAR goes up in FLAMES…..
GOLD [silver, not so much, but some] WILL RE-ADJUST to…..
its NEW status as the ONLY ‘reserve’ currency IN THE WORLD………
$10,000/oz?
$20,000/oz?
$50,000/oz?
$100,000/oz?
No one can know for certain, but, it WILL be by A LOT.”
NEEDS to be about US $100,000 PER OUNCE – TO PAY THE NATIONAL DEBT!
NO! REALLY!!!!!!!!!!!!!!!
The United States Bullion Depository holds 4,603 tons (4,176 metric tons) of gold bullion
(147.4 million troy ounces[1]). http://en.wikipedia.org/wiki/United_States_Bullion_Depository
BROKER0101 – “Another B.S. attempt to cause panic (and sell gold, of course) …”
DO THE F*ING MATH YOURSELF, THEN YOU STUPID TWIT:
$14,000,000,000,000 = US Debt / 147,400,000 Million Troy ounces = $94,979.65 PER OUNCE
“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
Report Post »– Henry Ford
ComeAndTakeThis
Posted on March 7, 2011 at 1:27pmRevelation 6:6 And a voice came to my ears, from the middle of the four beasts, saying, A measure of grain for a penny, and three measures of barley for a penny: and see that you do no damage to the oil and the wine.
Report Post »Susan Harkins
Posted on March 7, 2011 at 1:27pmPA PATRIOT
Posted on March 7, 2011 at 8:13am
How will Gold at $1443.00 help me buy a 5 dollar loaf of bread? Do we shave off 1/288.6th portion of that ounce to pay for it? Can someone help me here?
——————–
Let me help you out, my dear. Buy the bread (wheat in a sealed bucket w/ oxygen depleater) now, for 10 years of use, and put the rest of your wealth up in precious metals.
If you cannot seperate your desire for bread, from the desire to preserve wealth…
…then you deserve neither bread, nor wealth.
I hope that I helped you out of this horrendous state of confusion, you found yourself in!
Report Post »OneFunR6
Posted on March 7, 2011 at 1:35pmComeAndTakeThis,
Ok, now yer skearin’ me…… LOL!
Report Post »swalt
Posted on March 7, 2011 at 1:43pmTo all those wondering how you will be able to use precious metals when TSHTF, buy pre 1964 silver coins. At todays prices, one old quarter is worth $6.60. If silver goes to $100 that quarter will be worth almost $20. Silver will be the new currency.
Report Post »GhostOfJefferson
Posted on March 7, 2011 at 2:11pm@broker0101
“Another B.S. attempt to cause panic (and sell gold, of course) by Glenn Beck. The inflation adjusted high for gold is about $2400/oz set on 01/21/1980. Once again, Glenn misleads his gullible disciples for his own monetary gain. Completely dishonest, disingenuous and, frankly, Slimy. Especially since he his trying to sell you gold by implying that it’s price keeps pace with inflation. What a Scumbag! If I told lies like this over the airways, my licenses would be revoked and I’d likely be in jail. Unfortunately, one doesn’t need any licenses to claim to be a Prophet. Just a sharp tongue and Brass Balls.”
So gold didn’t set a new record then? It’s been up to $1400+ before? Or do you wish to juggle numbers a bit to deny an obvious apolitical fact?
Report Post »Showtime
Posted on March 7, 2011 at 2:29pmOur economy is screwed! THANK YOU, OBAMA & CO.!
Report Post »COUNTRYBOYCANSURVIVE
Posted on March 7, 2011 at 2:38pmNot just gold, silver. Even a 1/10 ounce gold piece is spendy. Your 90% silver coins (pre 1964) are great, silver, and small denominations too. A 90% quarter is worth about 7 bucks now. For smaller demononations that that nickles and pennies (pre 1984 pennies). They are still worth their melt value for nickle and copper. So even if paper is worthless, these metals hold there value.
Report Post »sleazyhippo
Posted on March 7, 2011 at 3:09pm@PA Patriot – (smile) Sorry – from your acid-tongued comment I thought you were the king of abbreviations! You Said,” …you have an FFL license. I would bet the house you don’t know what that is.” So I am glad to hear you are just a clueless drive by critic…(grin) LOL- Haaa haaaa
Report Post »PA PATRIOT
Posted on March 7, 2011 at 4:10pm@Susan Harkins
Sue honey, I never said I was an economist, just a bit naive. There is no doubt in my mind that I clearly do not have the extent of experience and the wealth of knowledge that you must have regarding the purchase of gold. When the time comes and you need some information on where the life boats are docked, I will gladly help you.
Thanks for your encouragement.
@ Sleazyhippo
Report Post »“from your acid-tongued comment I thought you were the king of abbreviations!
SU
tower7femacamp
Posted on March 7, 2011 at 7:30pmJPM shorting paper silver will blow up soon….
Report Post »buy and hold silver coins
veruca salt
Posted on March 7, 2011 at 9:51pmDo you ever stop and wonder why, if gold is so great and dollars are so undesirable, why is Goldline so willing to trade their gold for your undesireable dollars?
Report Post »OneFunR6
Posted on March 7, 2011 at 10:24pmveruca salt,
umm, because….. THEY MAKE A PROFIT SELLING IT????
[so THEN they can buy MORE of it and SELL more of it AT A PROFIT???!!!]
Do you ever stop and wonder why,,……….
IF gold is so UNDESIRABLE,……….
why HAVE PEOPLE BEEN so willing to trade their LIVES for your undesirable GOLD?
“Boom! winning!” – Charlie Sheen
Report Post »veruca salt
Posted on March 7, 2011 at 11:17pmFunny that Beck, Goldline’s biggest shill, never quite phrases the sales pitch the way you did. He tells his audience to buy gold to protect themselves against a collapsing dollar, which is one of the cornerstones of his gloom and doom prophecies. Basic critical thinking skills should have you questioning why this story is being promoted on a website set up by a paid spokesman who profits off people purchasing gold from Goldline. Or not – keep stacking those ingots!
Report Post »YellowFin
Posted on March 8, 2011 at 1:56amIf gold is such a good thing to own, then why are there so many companies trying to sell it?
Why not keep it for themselves?
Report Post »PA PATRIOT
Posted on March 8, 2011 at 8:21am@OneFunR6
Report Post »I was thinking about this a bit more. ( The smoke was really billowing out of my ears last night.)
If your home was paid off would you take a home equity loan and buy gold?
sleazyhippo
Posted on March 8, 2011 at 10:07amThere’s more to life than Money!
Report Post »DVD Box Set of HBO 24/7 Penguins/Capitals Road To NHL Winter Classic, — $80.00.
2010 Super Bowl tickets to see Green Bay wipe the field with the $teelers, — $500.00.
Watching Mario Lemieux go bankrupt by investing in Gold, – Priceless.
Working very hard to be debt free – Sadly Undervalued (SU) Ear Steamer (ES)!
OneFunR6
Posted on March 8, 2011 at 10:42am“I was thinking about this a bit more.”
YES! Lol, yes you were!
It DOES take a LOT of effort, AND it is hard to see why us ‘ants’ need to know and understand these issues!
“(The smoke was really billowing out of my ears last night.)”
Just wait ‘til the blood starts shooting outta yer eyes! Lol! THEN you’ll know yer really getting’ somewhere!
“If your home was paid off would you take a home equity loan and buy gold?”
Yup, you were deff. thinking outta the box………
As you read below, keep in mind the following….
Property ‘values’ will most likely continue to fall, BUT….
Property TAXES will most likely GO WAY UP……
[so will income taxes, sales taxes, fees, etc, will ALL go way up…]
Why? Because the GOV. wants OUR money, so they can keep BUYING VOTE[rs]
AND ‘THEY’ ARE BROKE.
That’s a damn hard question to answer……..
Here’s how I look at it………..
IF ‘nothing’ goes ‘wrong’, you [as an individual] will probably never be able to borrow as much money at such a low rate of interest as you can right now………
Me? I refi-ed in ’09 at 4.23% w/no points and then took out a HELO at 4.55% w/no points…….
I started with OVER 50% equity….. after refi and HELO = 20% equity + property asses. DROP = +/- 0%
So what? My mort. payments are really low – for the next 28 years!
I’ve also made over 50% ROI on my silver purchases, and almost 20% on my 1st gold purchases…..
IN LESS THAN A YEAR….. [still buying both…… mostly gold…..]
WHO thinks that “things” are gonna get waaay better in the next 1-2, 3-4, 5+ years????
I personally believe that GOLD and ONLY gold will go “to the moon”………
because of the fraud and ignorance/incompetence of the politicians and the FED.
Would it be a ‘good’ idea to go into debt to buy gold?
MY answer IS Maybe…..
IF,…. the rate of interest on the money borrowed is really low and fixed for a long time frame, AND …
you can make the payments w/o much effort…..
AND IF you can stand to POTENTIALLY LOOSE 50% + of your “investment” in gold,….
[could happen, but I can't fig. out how...]
BUT, do you really think that the Politicians OR the Banksters are going to STOP printing MORE money?
Do you really think that the Big US Banks are STILL solvent?
NOTE THAT ONLY GOLD IS LISTED AS AN ASSET FOR THE CENTRAL BANKS OF THE ENTIRE WORLD…….
[not silver, copper or anything else]
AND… as its VALUE goes UP, they then have greater reserve ‘assets’…..
Anyone really think they are gonna SELL??? As Gov.’s CONTINUE to print MORE PAPER “money”??
REALLY?
- NOT A CHANCE!!!!!!! They will BUY IT….
READ THIS:
_____________________________________________
Reference Point: Gold – Update #1
http://fofoa.blogspot.com/2011/01/reference-point-gold-update-1.html
If you click on the following link to the ECB website you will see a description of the “Weekly financial statements” they publish every week:
http://www.ecb.int/press/pr/wfs/2011/html/index.en.html
_____________________________________________
“Government is the only agency which can take a useful commodity like paper, slap some ink on it and make it totally worthless.”
~ LUDWIG VON MISES http://mises.org/literature.aspx?action=author&Id=280
“The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.”
~ F.A. HAYEK http://mises.org/literature.aspx?action=author&Id=126
“The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit…. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value…. Deficit spending is simply a scheme for the “hidden” confiscation of wealth…. [Gold] stands as a protector of property rights.”
“This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
ALAN GREENSPAN – former Fed Chairman
Report Post »OneFunR6
Posted on March 8, 2011 at 10:51am“There’s more to life than Money!”
Yes, and … when, not if, the banks ALL close….
Watching the price of OIL going past $175 a barrel……
Watching the price of FOOD go up, up, up and away, outta reach…………
Watching stupid liberal hippos clean toilets or STARVE……. Priceless!
Report Post »OneFunR6
Posted on March 8, 2011 at 11:03amYO, SLEAZY-HIPPIE, LOOKIE WHAT I JUST FOUND!
_____________________________________________________
Could Saudi ‘Day of Rage’ Push Oil to $200/Barrel?
http://www.theblaze.com/stories/could-saudi-day-of-rage-push-oil-to-200barrel/
“The CHART OF THE DAY shows open interest, or the number of outstanding contracts, for ‘call’ options to buy New York crude for June delivery at $200 a barrel,” Bloomberg explains. “The number has escalated, along with crude futures, to the highest since the options started trading in July 2009 amid worsening civil unrest in Libya and rare demonstrations in Saudi Arabia.”
Simply put, Bloomberg explains, “Call options grant the holder the right, but not the obligation, to buy a security at an agreed price before a set date.” It can protect buyers from even higher prices in the future.
_____________________________________________________
SILLY-HIPPO, upper right-hand corner of the page………….
BULLION DIRECT – http://www.bulliondirect.com/
ps, not an insider-extreme member, never bought any product that Mr. Beck advertises
AND Goldline is WAY too pricy for me….
[I did sign up for his FREE e-mail newsletter, tho!] *grins*
Report Post »sleazyhippo
Posted on March 8, 2011 at 11:11amAbility to Cut & Paste – Priceless!
Ability to do work that Americans won’t do – the secret to wealth on earth!
Report Post »OneFunR6
Posted on March 8, 2011 at 1:48pmWell, Sleazy,…
You can come clean my toilets anytime, but…
you won’t be getting “wealthy” any time soon.
Just ask the woman who cleans them now…
No, she is white and the only reason I pay her to do it, and no other cleaning, btw,..
Report Post »is b/c her husband is retired and on physical disability and they are broke,…
they are also members of my church…..
sleazyhippo
Posted on March 8, 2011 at 4:25pmYou seem like a nice, charitable kid. So why are you peddling in a chart room? Low overhead? Have you read paragraph k?
Report Post »OneFunR6
Posted on March 8, 2011 at 6:40pm“So why are you peddling in a chart room?”
SO,… now yer readin’ MY mail??!?!
How yuz know I be ah map maker??!!?!?
*looks around*
I does whatevez the Rice-Chrispies tells me to……
Report Post »*takes another crazy pill*
OneFunR6
Posted on March 8, 2011 at 7:34pmGhostOfJefferson –
“So gold didn’t set a new record then? It’s been up to $1400+ before? Or do you wish to juggle numbers a bit to deny an obvious apolitical fact?”
What WILL the trolls have to say when/if the price goes all the way?
$14,000,000,000,000 = US Debt / 147,400,000 Million Troy ounces [Fort Knox] =
$94,979.65 PER OUNCE !
Report Post »OneFunR6
Posted on March 8, 2011 at 7:43pmLast time Fort Knox was publicly audited?
1954.
Still think there’s [any] gold in there?!
Report Post »