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iF GOLD DOES GO UP TO 10 OR 20000 PER OZ. The government is going to have a hard time confiscating it... This is not 1933, people today do not respect the government and will never trade in their gold to a government that is incapable of managing it's finances.
Thanks, but no thanks, as silver and gold have been very, very good to me, unlike buying stocks or houses have been!!! Who knows, maybe it will be time soon to sell some of my hard assets and buy some long-term storable food, some barbed wire and stakes, maybe some more bullets, some vegetable seed and some fertilizer, maybe a tough-shed, a water pump, a cultivator, and another generator, to go along with that brand-new 4WD truck that I just bought to tow my camper with, and head off the beaten path a ways, as the absolute worst place to get caught will be in any large city that runs substantially out of food and fuel!!! Maybe buying-up some TP wouldn't hurt either, though I'll bet that I could get a fire-sale price on stock certificates someday soon too!!!
If you buy gold, take immediate possession of it and just put it some place NOT in a bank. Using a little imagination, until the crooks can read minds, any place that is a secret to you is safe from them.
In an economic collapse, the only financial instruments of worth would be gold and silver. Socrates' statement was ridiculous. This was a hit piece on buying/holding gold and silver. Most of the 13 reasons were heavily dramatized, and a good number of them were pathetic, like the "anxiety" of holding metals. Like there's no anxiety holding a 401k or stocks or bonds? Pulleeze.
I cashed out my retirement instruments in 2001 and bought gold and silver coins and silver bullion bars. I'm doing fine. I possess it. When the financial doodoo hits the oscillator, I'll have something to make a play with. Will you? And, yeah, a financial collapse is coming to a neighborhood near you. I like my chances.
Gold is real money, with intrinsic value. It is expensive to mine, and to refine, and it is rare.
Money is used as a means of exchange more efficient than barter. This is why money exists.
People buy gold to protect themselves from inflation (expansion of money supply), and the erosion of purchasing power it creates.
People also buy gold when government's usurp power, create unjust laws, regulations, and taxes.
Warren Buffett said it best, would you rather own 1 million dollars in gold, or invest that much in companys that produce a product that people need, food, water, i.e.
What will people seek out in a crisis, the necessities of life or more gold? How much is gold worth in a
situation where water is in short supply?
The price of precious metal is driven by the very people who sell it, they play the "fear" game for their own gain. Don't play & watch the price drop to where it should be.
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[BRIEFING.COM] The major averages ended modestly lower with the S&P 500 shedding 0.3%.
The benchmark average saw an opening loss of 1.2% after Japan's Nikkei tumbled 7.3%. Japanese stocks sold off amid continued volatility in Japanese Government Bond futures as the 10-yr yield spiked almost 16 basis points to 1.002 before the Bank of Japan's JPY2 trillion liquidity injection caused yields to retrace their gains.
Adding insult to injury was news out of China where the HSBC ... More
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