Who here invests in Gold & Silver now that the dollar's value is in serious jeopardy?
If so - any advice/tips would be appreciated
Posted by Lymetoo (Member # 743) on :
If I had money I sure would! Catch 22!
Posted by apljack (Member # 14233) on :
Canefan--did you watch the Stanisberry video? I can't believe I actually wasted 1-1/2 hour of my life on that. Though it certainly does make the desire to buy silver and gold quite strong. And, to hide money overseas.
Posted by canefan17 (Member # 22149) on :
Yes - I've been a subscriber for awhile.
They take a lot of things too far and some of it isn't plausible - but the guy's really intelligent and presents a lot of factual information.
Posted by apljack (Member # 14233) on :
You can buy gold coins, that works in a pinch. Do you have a reputable coin dealer in your area? There's always the US mint.
I probably would have subscribed if I hadn't done a quick scam search on the guy. I wasn't sure what to believe anymore.
It is definitely scary what he is saying about the US dollar. That would mean we won't come out of this recession at all. Things are going to get very, very bad. If our local, state and Federal governments don't stop spending what they don't have, and they won't, it is our debt that is going to kill us.
Posted by Lymetoo (Member # 743) on :
I heard the other day that other countries are meeting in secret to go to another currency and will leave out the US. Then our dollar will be worthless. (like it's bad now)
Posted by LabRat (Member # 78) on :
If you think folks are intentionally trying to collapse our system, then investing in gold at this late stage may not produce the results you're looking for. We bought some gold at ``the top'' the last time it ran up but we were able to just leave it in the safe till now. We got in early this time, buying at around $380 an oz, but of course it's like child support in California, there's never enough. We could probably survive fairly well, for a short time unless it really gets messy, in which case, you can't eat gold!
While you're deciding which frying pan to jump into, why not consider some form of food production. Small case in point, while folks in Houston were slipping and sliding last week, I was having a salad with some red ripe tomatoes from my indoor hydroponic garden!
I've been slowly but heavily investing in food production, gardening equipment and supplies, fish tanks, canning equipment, flour mills for wheat and corn and building chicken and rabbit hutches. Food distribution and supply could be used as a weapon as it was in Russia during their revolution. If it gets that bad, not much can be done. If I have a garden and my neighbors are hungry, I'm sure they will help themselves in order to survive.
I just throw this out for consideration, history usually repeats it'self!
[ 03-22-2011, 01:58 PM: Message edited by: LabRat ]
Posted by Elaine G (Member # 20735) on :
Rather put my money in stocks.......... and my health.
Posted by Lymetoo (Member # 743) on :
I know, labrat.. we're going to need FOOD when the going gets rough. And it will.
Posted by LabRat (Member # 78) on :
A crystal ball would sure come in handy from time to time. I don't know what's in store for us but the more options we have whether we use them or not the better off we'll be. Stocks don't work for me, I've lost a lot of money even with inside information! I've got a ton of stock that's not worth the effort to cash it in! I admire anyone who can pick up and hold the right stocks, that has to be an art that you can't get from a book. Blackjack, on the other hand, for me works better than gold but the nearest high limit casino is a days drive. I think the cost of gas will reach a tipping point and will over time be rationed. I play ``what if'', till I figure out we've been had by mostly our own people, makes me so mad I can't see straight! Sooo anyhow, whatever happens, happens to us all, good luck!
Posted by skies (Member # 28064) on :
I'm with LabRat.. food storage is VERY important! If the s*** really hits the fan, we won't be able to just drive over to our neighborhood grocery store and buy whatever we need. And the way things are going, that is a very real possibility. It's good to be prepared.
Posted by Hoosiers51 (Member # 15759) on :
I'm no economist, but I wouldn't buy gold or silver now. Isn't that a bad idea? Because it is super high! Ever heard "buy low, sell high?" I was thinking of selling my scrap gold for whatever I can get it for now, since it's so high.
I am not worried about putting money in the bank. Gold is good if I already had it, but I don't, so I'm not buying it now.
Posted by canefan17 (Member # 22149) on :
Hoosiers,
Some think it's still going up (waiting for QE2 and QE3 to end)
But in general usually precious metals don't get in front of inflation anyhow.
Not a ton to be made in gold unless the dollar absolutely becomes extinct.
Posted by LabRat (Member # 78) on :
Glen Beck said on Monday that today he would produce recordings made by people plotting to collapse our economic system. Should be interesting! 4PM Central on Fox.
Posted by Lymetoo (Member # 743) on :
Wow.. that was interesting! (just heard the recording)
(whatever happened to hanging traitors?)
Posted by LabRat (Member # 78) on :
That would be my preference but perhaps those in charge are the traitors, who can you turn to then!? It looks like the next two years are gonna be a bit scary!
Posted by skies (Member # 28064) on :
quote:Originally posted by LabRat: That would be my preference but perhaps those in charge are the traitors, who can you turn to then!? It looks like the next two years are gonna be a bit scary!
You got that right! Posted by canefan17 (Member # 22149) on :
LabRat,
It's already in the process. QE2 and QE3 - creating the largest market bubble in history.
End result will be circa 1929 They are bringing America to its knees
And they will blame it on the free market and banks.
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