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35 Comments
- inactive, on 06/24/2009, -1/+7I believe that commodity-money (Silver, Cattle, Gold, Wheat, Water, etc), is far better than the almost-fiat money used in the US. It is very vulnerable and therefore is unreliable. Do you all agree or disagree?
- inactive, on 06/24/2009, -0/+5http://www.youtube.com/user/PeterSchiffChannel
That is all you need to get started.
Even though there are gold bulls and bears one thing no one can deny is that precious metals are sure-bet insurance against inflation. The downsides are minimal considering the current economic climate (and if Obama and Co. continue to print...).
Watch the videos in that channel and do your own due diligence. - glasszach, on 06/24/2009, -0/+5Maybe rethink the words "the value of silver is increasing", maybe it is, but isn't it really the value of the dollar (in the US particularly) that is decreasing?
- skit4king, on 06/24/2009, -0/+5It's always handy to have some silver around, no one really knows what happens during a full moon.
- Caergrim, on 06/24/2009, -0/+4No, gold and silver will rise and rise again because of currency depreciation. The inflationary policies of several countries, particularly the US and UK, will create a currency backlash against them in the long-term. This will send commodities, particularly oil and precious metals, through the roof.
- moofree, on 06/24/2009, -0/+4Yes, you should consider gold and silver bullion as money, rather than an investment per-se.
It's just money that's not directly controlled by the banks. - VociferUnbanned, on 06/24/2009, -0/+3If you look at inflation-adjusted prices, precious metals are still a good buy in relation to their record highs.
- Caergrim, on 06/24/2009, -0/+3I own 40 oz of silver and 1 oz of gold. While scarcely a princely sum, it is what I could manage and it will help see me through currency depreciation.
- MysticKatDaddy, on 06/24/2009, -2/+5The time to buy silver was 1999 through 2001 when there was a down market. Now it is too expensive and it might gain a little in the future but the time for big gains in metals is over. The rule basically is to buy metals when the economy is really good and the prices are low and sell them during though economic times because there is always a sucker willing to buy metals when the economy is bad.
- yocouchdigga, on 06/24/2009, -0/+2Serious question, is it a smart time to buy gold or silver? I've been flip-flopping on the issue for the past year. Anyone "in the know" care to share some knowledge. I'd appreciate it...
:D - inactive, on 06/24/2009, -2/+4Nice Thought
- X9001, on 06/24/2009, -0/+2WEREWOLVES!!!!
- curtisag, on 06/25/2009, -0/+1Almost fiat? It's not almost, it's just fiat. It should be a basket of commodities, the problem is storage. Any commodity based money needs a huge surplus to back up the currency. The Government can't store cattle, wheat, or water in fort knox. And they would have to basically buy up everything on the market just to back up all the dollars in circulation. I like the idea of a gold/silver standard for our money, but I don't see how we can make it work. The US Gov. only has like 8000 tonnes of gold, not nearly enough to equal the base supply of money in circulation.
- yocouchdigga, on 06/25/2009, -0/+1so if you had money to buy gold today, would you?
- StopTheLie, on 06/24/2009, -1/+2Some forms of money are "more honest" than others.
For those unfamiliar with the different kinds of money (commodity money, receipt money, fractional money, fiat money, fiat DEBT money) here is a short history (available in HTML and PDF format)
http://www.dishonestmoney.com/honest_vs_dishonest_ ... - inactive, on 06/24/2009, -0/+1Cattle has a moderate store of value and can be used for labor, just like horses. I'll admit, though, that wheat would be difficult to trade. Perhaps rope, nails, screws, darts, etc would make good trading mediums?
- inactive, on 06/25/2009, -0/+1It was smart a while ago when everyone called you crazy for buying "useless" metals.
HAHA Why are you wasting your almighty paper God on some alchemical representations of the Moon and the Sun, psshh the dollar will never fail us for all eternity. BWAHAHA. - Nickolassc, on 06/24/2009, -2/+3exactly, and the suckers are buying gold right now because the companies are pumping it.
- Nickolassc, on 06/24/2009, -2/+3If you believe that, waste your money on gold and silver, gold is one of the most highly manipulated markets out there. There is a lot more to it than just inflationary hedges.
- silverchrysalis, on 06/25/2009, -0/+1smart. as long as whatever country you're in doesn't outlaw ownership of precious metals http://tinyurl.com/ndcbzp
- LenBaird, on 06/25/2009, -0/+1Yes.
www.goldseek.com
www.silverseek.com - Philbert, on 06/25/2009, -0/+1Does this silver lining have a Touch of Grey?
- Caergrim, on 06/25/2009, -0/+1I am not too concerned about it. It is not a horde of precious metals, but rather a stash that can be squirreled away. Good luck finding it if I bury it.
- funkywood, on 06/25/2009, -0/+1Just a point but gold went up during the depression period of deflation as well as during inflation, basically times of uncertainty like now when it's the easiest to understand and safest place to keep your wealth. Yes it was fixed until the dollar got devalued but shares of miners went through the roof (see Homestead).
Gold's bubble will be ready to pop when nearly everyone on here says they've already got some and the only ones who don't are waiting for a dip before they buy.
Long way to go yet.
Also silver does better in good times as it has way more industrial uses than gold so isn't just a precious, but otherwise pretty useless, metal.
Don't put all your eggs on it expecting massive gains but you'd be daft not to have a little bit of your money in gold as it usually moves opposite to stocks (except when the dollar the are both valued is all over the place). - RedStateRetard, on 06/25/2009, -0/+1What the article DOESN'T tell you. One of the largest industrial users of silver, the photographic and film industry is "circling the drain".
My Grandmother doesn't own or want a cellphone or computer. But she has a digital camera. - RedStateRetard, on 06/25/2009, -0/+1Yep, plenty of "We buy gold" signs everywhere.
sell indicator - loki49152, on 06/25/2009, -0/+0The real question is whether or not the economy is about to get worse, not whether or not it's bad compared to some previous time. We know the government's current and recent policies are, by their nature, disasterous. We know that the economic fallout hasn't fully hit us, and everything the government is doing to forestall the event is just making things worse.
It's quite rational, based on the evidence, to conclude that the times are good *now*. - bizzywho, on 06/24/2009, -1/+1I'm not sure about cattle or wheat though...
- Caergrim, on 06/25/2009, -0/+0Yes, yocou.
- WindyMiller, on 06/25/2009, -0/+0silver is used in many, many other products. Did you know it's used in sportsware? it has antibacterial properties, kills off the bacteria that smell. Sports industry alone uses over 1000 tones of the stuff every year, in tiny amounts. And you know what, it's used in digital cameras as well, in the microchips. They're using loads of the stuff up every year, faster than they're mining it out of the ground. Silver stockpiles are the lowest EVER in the last 200 years. central banks have been using it up, selling it off. They now have virtually none left.
Silver is going to go through the roof once people find this out.
Don't take my word for it. check out the 3 part article here:
http://seekingalpha.com/article/142455-history-of- ... - Caergrim, on 06/25/2009, -0/+0Indeed, Loki. We have a long way to go before we are out of this economic mess, which is why I bought silver and gold at relative highs. Regardless, I did not buy them as investments to make money with, but as hedges against currency depreciation. I still keep a good portion of my money in dollars.
- WindyMiller, on 06/25/2009, -0/+0silver is one of the worlds most useful metals. Its incredably versatile. Its used in loads of different products in small amounts. Its used in the microchipds of your granmothers digital camera, it's used in sportsware (it's got antibacterial properties that kill smelly bacteria in the clothes).
Stockpiles of silver are at their all time low at the moment. Central banks have sold off of all their reserves. There hasn't been this little silver stockpiled in hundreds of years! The price of silver is going to go through the ROOF!
(OH, they still do use it for photography - in hospitals for X-rays. There's a few other uses that escape me for the moment).
Don't take my word for it. check out this article:
http://seekingalpha.com/article/142455-history-of- ... - Caergrim, on 06/24/2009, -1/+0I recommend taking a look at iTulip.com. :)
- fuzzybutton, on 06/25/2009, -2/+1I bought into silver to make colloidal silver when it was $4.50-$5.50 an ounce. Only my opinion but I believe the pharmaceutical companies are buying when cheap for the day when the people realize that it does as claimed and their chemicals are found to be mostly bunk.
OK, I'm waiting for the thumbs down. - Nickolassc, on 06/24/2009, -5/+3 No! Gold is in a huge bubble right now that could pop any day. It won't go any higher because world governments are dumping their gold shares onto the world market to supress the price. If you didn't buy gold at 300 an ounce you are too late to make any money off it and will only lose money in the long term. Silver is higher than it should be too, but it's not as bad as gold.
Know why you are hearing so much about gold and silver right now? It's because people/companies who already own gold are trying to sell it to you at a rip off price.
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