Catholic Info
Traditional Catholic Faith => The Greater Depression - Chapter I => Topic started by: Telesphorus on October 29, 2010, 10:15:35 PM
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http://www.bloomberg.com/news/2010-10-29/gold-will-outlive-dollar-once-slaughter-comes-commentary-by-john-hathaway.html
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No offense meant, but the headline is a no-brainer...
Gold has intrinsic value...the dollar does not.
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No offense meant, but the headline is a no-brainer...
Gold has intrinsic value...the dollar does not.
The significance is that it's on a mainstream site.
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Copy that...
I am commenting within a small window, not sure wen I shall again be able...
Thank you for your indulgence...
Dylan Ratigan (MSNBC?) has hit hard, of late, if such has not already been mentioned...
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If you cannot buy Gold, buy Silver. It is still cheap.
Gold, and Silver never has gone to Zero, stock
market certificates has. American dollar is in
danger of going to zero, since it has last 95%
of its value since 1913. That was the year that
the Federal Reserve Bank came into being.
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If you cannot buy Gold, buy Silver. It is still cheap.
Gold, and Silver never has gone to Zero, stock
market certificates has. American dollar is in
danger of going to zero, since it has last 95%
of its value since 1913. That was the year that
the Federal Reserve Bank came into being.
I'm not sure it's cheap. I do think it will go up soon. But - it's uncertain if this is the best time to buy. Still, it can't hurt to buy a couple rolls of silver dimes, quarters, halves or some gold fractionals (but beware of premiums).
Best to buy a large order on a trip to a state without sales tax or from a company like apmex if there's a sudden decline. But it may not come. I've done a bit for myself but I greatly regret that others simply refused to take my advice when there was still time to make a very good and safe investment.
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How does one go about buying silver or gold?
I mean how do you know what dealer to go to, if you are paying a reasonable price, and if what you get is ACTUALLY gold or silver.
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How does one go about buying silver or gold?
I mean how do you know what dealer to go to, if you are paying a reasonable price, and if what you get is ACTUALLY gold or silver.
haha. good question. Coins minted by governments like American Silver Eagles are carrying very large premiums right now. Silver has a larger premium than gold, but it's easier to buy and sell in smaller quantities. You pay too much with fractional gold.
Check the buy and sell price regularly at sites like apmex, tulving, golden eagle coins, northwest territorial mint, and call up local dealers to compare their prices. You can use craigslist.
Old US silver "junk" coins are okay - very recognizable, and dimes are small denominations. Silver dollars command a large premium.
Be sure to check out forums. Right now is a dangerous time to buy in the short term - you might buy and feel you lost a lot if there's a steep decline. For example, those who bought silver at the highest point in 08 felt pretty bad for a couple years. But now they have a reasonable return.
Another question is physical versus etf or pool.
Whether you have actual possession of the metal, or are trusting some other organization to hold it for you.
You pay extra in premium to possess physical metal. But then again there are brokerage fees, taxes, the awkwardness of selling small quantities on an exchange, and the possibility of the shorts on the exchange running out of silver and settling your account for hyperinflating cash.
If you're in Europe you have to pay the value added tax for silver. (not gold)
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An easier way to get precious metal exposure is to buy stock in mining companies. You'll have to check out the company or ask your broker to, to make sure it is sound. But this way it is easier and less expensive to buy in and you can still hopefully reap some profit off of the rise in precious metal prices.
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An easier way to get precious metal exposure is to buy stock in mining companies. You'll have to check out the company or ask your broker to, to make sure it is sound. But this way it is easier and less expensive to buy in and you can still hopefully reap some profit off of the rise in precious metal prices.
A CFA I know was buying Hecla years ago. They've been quite volatile recently. Stocks are fine (risky), but they aren't the same as what has been used as money since Croesus. It's true silver and gold are risky too, but what are the odds of the dollar being restored given our debt?
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http://www.youtube.com/watch?v=PTUY16CkS-k