| Source: GoldSeek.com
You think I am crazy?
I have been ridiculed, dismissed, hated and now I am feared, but no one has given me a reason to change my view. I am still listening.
Unbacked paper money is fraud. Most of the wealth is the world is an illusion.
Real wealth is productive capacity. The world has orders of magnitude more productive capacity than in 1929, multiples of what it had in 1989. But the paper illusions of wealth dwarf real wealth as never before. Most of that paper wealth will accrue to gold and silver.
We will continue to see deflation in terms of gold and silver, inflation in terms of paper. From the perspective of gold, debt will default. From the perspective of paper, debt will inflate. One way or another, debt, which is the mirror reflection of the paper wealth illusion, will be destroyed.
Attempts to reform within the current system are useless. You should write off all paper promises today, and plan accordingly. Here is an incomplete list of what you need to kiss goodbye:
Government Promises
Social Security, Medicare, MedicaidCorporate PromisesBonds
Deposit Insurance
Pensions
Unemployment insurance
Food Stamps
Bonds
Public sector jobs
Annuities
Insurance Policies
Unbacked paper gold and silver
Home equity lines of credit
More Here..
Silver is still only a little over $20 a pop, so it's just about $240 for 12 ounces. Gold is about $1300 an ounce. That math makes no sense to me, that'd mean you should really load up on silver now and ignore gold.
ReplyDeleteUhhh...as bad as things are, this article is complete fear pandering and reveals an "absolute " mentality without rational thinking. A currency crisis does not mean the currency becomes worthless, it is devalued, debt is restructured, and adjustments made. The best way to protect yourself is through fixed payments for your assets. Even Noriel Robini thinks it could be another 10 years before a major currency crisis erupts
ReplyDeleteCurrencies have become worthless MANY TIMES! What planet are you living in? Rome, Russia, Argentina, Zimbabwe,Turkey, even the Mexican Peso was devalued! Finland, Italy, and Norway had currency shocks that spread through Europe in 1992. There have been SO MANY!
ReplyDelete11:43 represents the finest public schools at work.
ReplyDeleteGod help us from these idiots that fill the highest pubic offices and the streets.
well gold/silver not going up, dollar and ALL paper currencies going down. approx. 278 fiat paper based currencies have been issued in the history of the world, starting with China!!
ReplyDeleteThey all have one thing in common, they ALL Went to ZERO, so will the dollar, may take 10 more years but it will.
1:58 - NOBODY is pushing ANYTHING on ANYBODY. I'm NOT extreme, I DON'T push gold, and I'm sure as hell NOT an uneducated speculator. If anyone is extreme it's you with your total ignorance about gold! I probably read more about gold in one day than you've read in your entire lifetime. If you want to see your wealth--if you have any--vanish than continue to save and invest in USD-denominated assets. The rest of us--who actually have a clue--will invest in gold and other HARD ASSETS. That's because we know gold is REAL MONEY and is a way to PRESERVE WEALTH.
ReplyDelete1:58: I'd say you were as dumb as a box of rocks but I'd be insulting the rocks!
ReplyDeleteGold and Silver Climb to New Highs Again
ReplyDeletehttp://news.goldseek.com/GoldSeeker/1285819200.php
LOL,
ReplyDelete11:43 and 1:58 you guys crack me up. After the dollar defaults I'll drive by a street corner and drop a SE into your can. Of course you'll be clothing yourself in all those worthless dollars at that point so maybe you won't except my generous PM. Morons, who keeps breeding these retards anyway ?!!!
lay up your treasure in heaven
ReplyDeleteWho cares about gold.You cant eat it all it does is look pretty whats the big hype on a piece of metal that does nothing?
ReplyDeleteWhere do you guys keep your gold? I don't have too much so I've just kept it at home, but if you are seriously investing a lot don't you need somewhere safe to put it?
ReplyDelete4:01 because you're a dummy and fill your useless gut with fiat paper money. Do you choke on that dirty cash? Dumber people here then I thought.
ReplyDeleteThe people who laugh at gold are dumb in general; the dollar is going to be extirpated that is for sure.
ReplyDeleteBut what is not for sure is if the gold will have much value in reality. Is it a constant value? Yes. But what about the human condition when all of this happens? Will you even have anyone around you that isn't trying to figure out how to get water or food supplies that last long?
The guys who will become kings for whatever local government are those who seek, claim, and utilize the water supplies.
Got water? No, but I have gold! Okay see you later I'm off to keep myself from having a stroke...
Gold/Silver will help preserve wealth - it's not about making a profit. When FSNs go to near zero and a new currency is issued, the price of gold/silver will re-index to the new standard at a comparable HISTORICAL value. You will trade when ready to the new standard.
ReplyDeleteFRN's on the other hard will be curios that trade on eBay for fractional pennies. With the huge supply in print they will be cheaper than the other relics bills that are easily found there.
4:36 there are KINGS and SLAVES. Has been for 5000 years and still today. Nothing will ever change. The dollar collapses, like all do, while the KINGS hold the GOLD, the slaves work for them. Got Gold?
ReplyDeleteOh so you are going to take your gold to walmart and use that to pay your bill.Everyone is tapped out us poor people can't afford gold.
ReplyDeleteThis Gold craze is a joke.. How are you going to spend your gold? who will take it? How do you get change back from a gold purchase? It's all crazy gold will be as useless as money in the end. To go crazy with the idea of Gold is to just get caught up in the hysteria..
ReplyDeleteAccording to the president we are doing better.. We are not in a depression.. Maybe he isn't but I am.
ReplyDeleteI was on a treasure hunt in NE England. While we did not find a trove, there were several interesting pieces found. The man who ran the show, had found two troves of Roman gold. When the Roman empire collapsed, the Roman citizens living in England had a lot of wealth. It was in land, gold and silver.
ReplyDeleteWhile no one knows what happened to the people who stashed their gold and sliver, it in no way preserved their wealth. Gold only has value to someone who values gold as much as you do. The people who ran the Romans out of Gaul did not have a use for gold. They did not value it enough to search for it as the troves are not buried deep.
What has value is something that can create wealth. Knowledge, skills, tools. These are things that can create wealth. Gold can preserve it, but not for long. If you want to trade your gold for food, those who have the food will give you food, take your gold, then take your life. Or they may let you live and work for them as a servant. Until your gold is gone and you have no use except what labor you can provide.
Or the gov that rises, takes your gold and food from you.
Easy there bubbas...If people don't want to learn from history...LET THEM.
ReplyDeleteHowever with all the name calling and insults all it does is make you look like kooks.
It's easy to make a point but when some of you start yelling and rambling all it makes me think of a bunch of 45-85 year old white guys dressed in camo with a backpack full of gold and granola bars, a Smith & Wesson on their side and a slow bead of sweat dripping off their brow as they recount how many cans of yams and pinto beans they have stocked up on in their basement.
What is the value of your gold if the new currency has a 99% tax on gold?
ReplyDeleteYou MAY be able to use it in an underground economy, but I believe the new world reserve currency will be digital and you will have to have electronic verification for access to this new currency. To make it easier, the banks will have RT chips conveniently inserted in your hand or forehead to allow convent scanning to properly debit your account and assure your taxes are paid to the proper gov. reserve bank.
Noodles123 - Yeah, so what? What's wrong with middle age whites guys? Gold? Smith & Wesson? Backpacks with emergency supplies? Canned food? It's called "being prepared".
ReplyDeleteShouldn't you be over at ZH?
Give me a break cash is king wait until the economy gets better and that gold sinks back to 500 an oz.Yea use your gold at the credit card swipe at the store.
ReplyDelete732
ReplyDeleteHEY BOYS ANOTHER GOD BLESS HIM OR HER cERTIFIED GRADE AAA mORON
Put down 1400 dollars or 1 oz.of gold and I will take the cash any day.At least I can put it in my wallet.
ReplyDelete