Avernus Posted April 20, 2011 Author Share Posted April 20, 2011 Don't target me. It isn't fair. he's not targeting you to be fair, it's just fair to make you the target, that is all Quote Link to comment Share on other sites More sharing options...
bushwacked Posted April 20, 2011 Share Posted April 20, 2011 Yer drive to slap and tickle me on this forum is starting to get more tiresome than it is awkward. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 20, 2011 Author Share Posted April 20, 2011 Yer drive to slap and tickle me on this forum is starting to get more tiresome than it is awkward. you're probably just getting tired from all the tickling Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted April 20, 2011 Share Posted April 20, 2011 I'm going to need more than your word sunshine. I also should have qualified a "modern economy". Hell, what happened in America during the great depression with gold? Any idea? The FED forced people to turn it in and it was basically illegal to own gold. So if the world's only superpower has an economy that fails, you think gold is really going to help you out? That there are going to be a bunch of "intact" economies just waiting for you and your shiny metal (that you are going to transport easily) to help you re-create wealth? Or that a huge influx of people now dumping gold onto the market will assist you in recreating wealth? I'm gonna need more than that nut case Dave Ramsey's opinion, moon beam... Tell you what, you hoard gas, grain and gummi bears (also be sure to hold on to all of your Mutuals, Munies, and Stock Certificates, they'll help to keep you warm at night when you throw them in your fireplace) and I'll take my chances with precious metals and stones (and Iron of course...) The Fed didn't force people to turn over all of their gold, the pres. signed an executive order and people were paid for it (though below normal trade value.) Further, since gold is portable, many people offshored their gold and silver and would have access to it if they were to go to where it were being stored (portability and tangibility are the great aspect of precious stones and metals.) Now, look at it this way as well, if gold has no intrinsic value during times of crisis, why would the US government want people's gold? Why would any country want to restrict the amount of gold held by individuals? Unfortunately, the US as the only world superpower and the world's dependence upon our preeminence and consumerist market is not as palpable today as it was 20 years ago. Would it hurt if the US failed, absolutely, would it take down the rest of the world, probably not. But, in this scenario (SHTF, hypeinflation, etc...) precious metals and stones are even more important, they are a stable, desirable and a standard form of wealth that is recognized globally and will continue to be recognized (they transcend paper currency.) Now, let me state this, In my initial response I was speaking to Avernus about a misconception that a lot of people have with regard to the paper that they hold stating how much gold, silver, or other precious metals/stones that they hold. The paper is worthless. In a scenario where you need access to these items you will not have that opportunity to access them. That is why it is odd to me that many of these people who are dooms-dayers (and I'm not implying Avernus is) talk about the need to invest in only gold and silver, but they don't have the actual gold and silver in their possession; in a time of crisis they have nothing, nothing but paper saying that they have a certain amount of gold and silver... have fun going and collecting what the issuer of the paper says you have. Am I advocating that one switch from holdings in stocks and bonds to a portfolio entirely made up of precious metals and stones and hoarding them in their homes, absolutely not, the current economic conditions do not warrant such action. Do I think that diversifying some of one's holdings by purchasing precious metals and gems and having physical control of them is a good idea, yes. Precious metals and gems are great things to have during inflationary periods, they maintain their value during inflationary periods whereas currency does not, nor do stocks and bonds. Further, the portability/tangibility factor of these precious metals and stones allows for one to keep a certain amount of recognized wealth with them. It is no coincidence that the majority of the gold, precious stones, silver, etc... that has been mined throughout history is still in circulation today, these are not disposable items. Quote Link to comment Share on other sites More sharing options...
borge007 Posted April 20, 2011 Share Posted April 20, 2011 I'm gonna need more than that nut case Dave Ramsey's opinion, moon beam... Tell you what, you hoard gas, grain and gummi bears (also be sure to hold on to all of your Mutuals, Munies, and Stock Certificates, they'll help to keep you warm at night when you throw them in your fireplace) and I'll take my chances with precious metals and stones (and Iron of course...) The Fed didn't force people to turn over all of their gold, the pres. signed an executive order and people were paid for it (though below normal trade value.) Further, since gold is portable, many people offshored their gold and silver and would have access to it if they were to go to where it were being stored (portability and tangibility are the great aspect of precious stones and metals.) Now, look at it this way as well, if gold has no intrinsic value during times of crisis, why would the US government want people's gold? Why would any country want to restrict the amount of gold held by individuals? Unfortunately, the US as the only world superpower and the world's dependence upon our preeminence and consumerist market is not as palpable today as it was 20 years ago. Would it hurt if the US failed, absolutely, would it take down the rest of the world, probably not. But, in this scenario (SHTF, hypeinflation, etc...) precious metals and stones are even more important, they are a stable, desirable and a standard form of wealth that is recognized globally and will continue to be recognized (they transcend paper currency.) Now, let me state this, In my initial response I was speaking to Avernus about a misconception that a lot of people have with regard to the paper that they hold stating how much gold, silver, or other precious metals/stones that they hold. The paper is worthless. In a scenario where you need access to these items you will not have that opportunity to access them. That is why it is odd to me that many of these people who are dooms-dayers (and I'm not implying Avernus is) talk about the need to invest in only gold and silver, but they don't have the actual gold and silver in their possession; in a time of crisis they have nothing, nothing but paper saying that they have a certain amount of gold and silver... have fun going and collecting what the issuer of the paper says you have. Am I advocating that one switch from holdings in stocks and bonds to a portfolio entirely made up of precious metals and stones and hoarding them in their homes, absolutely not, the current economic conditions do not warrant such action. Do I think that diversifying some of one's holdings by purchasing precious metals and gems and having physical control of them is a good idea, yes. Precious metals and gems are great things to have during inflationary periods, they maintain their value during inflationary periods whereas currency does not, nor do stocks and bonds. Further, the portability/tangibility factor of these precious metals and stones allows for one to keep a certain amount of recognized wealth with them. It is no coincidence that the majority of the gold, precious stones, silver, etc... that has been mined throughout history is still in circulation today, these are not disposable items. Wow! Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted April 20, 2011 Share Posted April 20, 2011 Wow! thank you. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 20, 2011 Author Share Posted April 20, 2011 I'm gonna need more than that nut case Dave Ramsey's opinion, moon beam... Tell you what, you hoard gas, grain and gummi bears (also be sure to hold on to all of your Mutuals, Munies, and Stock Certificates, they'll help to keep you warm at night when you throw them in your fireplace) and I'll take my chances with precious metals and stones (and Iron of course...) The Fed didn't force people to turn over all of their gold, the pres. signed an executive order and people were paid for it (though below normal trade value.) Further, since gold is portable, many people offshored their gold and silver and would have access to it if they were to go to where it were being stored (portability and tangibility are the great aspect of precious stones and metals.) Now, look at it this way as well, if gold has no intrinsic value during times of crisis, why would the US government want people's gold? Why would any country want to restrict the amount of gold held by individuals? Unfortunately, the US as the only world superpower and the world's dependence upon our preeminence and consumerist market is not as palpable today as it was 20 years ago. Would it hurt if the US failed, absolutely, would it take down the rest of the world, probably not. But, in this scenario (SHTF, hypeinflation, etc...) precious metals and stones are even more important, they are a stable, desirable and a standard form of wealth that is recognized globally and will continue to be recognized (they transcend paper currency.) Now, let me state this, In my initial response I was speaking to Avernus about a misconception that a lot of people have with regard to the paper that they hold stating how much gold, silver, or other precious metals/stones that they hold. The paper is worthless. In a scenario where you need access to these items you will not have that opportunity to access them. That is why it is odd to me that many of these people who are dooms-dayers (and I'm not implying Avernus is) talk about the need to invest in only gold and silver, but they don't have the actual gold and silver in their possession; in a time of crisis they have nothing, nothing but paper saying that they have a certain amount of gold and silver... have fun going and collecting what the issuer of the paper says you have. Am I advocating that one switch from holdings in stocks and bonds to a portfolio entirely made up of precious metals and stones and hoarding them in their homes, absolutely not, the current economic conditions do not warrant such action. Do I think that diversifying some of one's holdings by purchasing precious metals and gems and having physical control of them is a good idea, yes. Precious metals and gems are great things to have during inflationary periods, they maintain their value during inflationary periods whereas currency does not, nor do stocks and bonds. Further, the portability/tangibility factor of these precious metals and stones allows for one to keep a certain amount of recognized wealth with them. It is no coincidence that the majority of the gold, precious stones, silver, etc... that has been mined throughout history is still in circulation today, these are not disposable items. I'm going to give you another it's good to see more people on the level, not that there aren't quite a few others here that aren't on the level just because they aren't flexxing knowledge about it, but you seem to be better at it than I am I would have lost my train of thought by the 2nd or 3rd paragraph....... regardless, Quote Link to comment Share on other sites More sharing options...
TimC Posted April 20, 2011 Share Posted April 20, 2011 SEC couldn't be any more wrong. What a ridiculous post. When the stuff hits the fan, it's going to be all about food reserves and hookers. Thankfully, I have plenty of both locked up in my basement. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 20, 2011 Author Share Posted April 20, 2011 SEC couldn't be any more wrong. What a ridiculous post. When the stuff hits the fan, it's going to be all about food reserves and hookers. Thankfully, I have plenty of both locked up in my basement. do you really believe we'll reach that point?....if we reach that point then the rest of the world will go down with us... do you really think that the powers that be will allow the entire global economy to collapse to the point where nobody can eat or perpetuate the machine that you see to this very day? I doubt it, but things will get bad enough to where I can exchange my over-valued precious metals for under-valued real estate when the real estate market REALLY corrects itself.... a SHTF scenario benefits nobody, even the few that want to keep their power.... Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 23, 2011 Author Share Posted April 23, 2011 I'm bumping this with an article for the silver/gold bugs out there....and FYI, it appears that China alone has caused the silver price to rise over a buck from what kitco.com has it at....which is now around 47.76 unless it has gone down, but I'm having trouble finding an exact price....so I'm ballparking it.... http://www.zerohedge.com/article/holiday-n...lver-still-buck great article here and a decent blurb about the YUAN that I'm still having trouble trying to understand..... and umm...here's a link to an inflation calculator below, try putting in the price of gold and silver in 1980 which was $850 for gold and $50 for silver....the Hunt brothers manipulated silver which caused gold to follow suit by purchasing such large amounts of silver that it was being consumed by a 3rd more than what it was being produced by mining companies and etc...... http://www.usinflationcalculator.com/ good shhtuff right here Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted April 23, 2011 Share Posted April 23, 2011 I'm gonna need more than that nut case Dave Ramsey's opinion, moon beam... Tell you what, you hoard gas, grain and gummi bears (also be sure to hold on to all of your Mutuals, Munies, and Stock Certificates, they'll help to keep you warm at night when you throw them in your fireplace) and I'll take my chances with precious metals and stones (and Iron of course...) The Fed didn't force people to turn over all of their gold, the pres. signed an executive order and people were paid for it (though below normal trade value.) Further, since gold is portable, many people offshored their gold and silver and would have access to it if they were to go to where it were being stored (portability and tangibility are the great aspect of precious stones and metals.) Now, look at it this way as well, if gold has no intrinsic value during times of crisis, why would the US government want people's gold? Why would any country want to restrict the amount of gold held by individuals? Unfortunately, the US as the only world superpower and the world's dependence upon our preeminence and consumerist market is not as palpable today as it was 20 years ago. Would it hurt if the US failed, absolutely, would it take down the rest of the world, probably not. But, in this scenario (SHTF, hypeinflation, etc...) precious metals and stones are even more important, they are a stable, desirable and a standard form of wealth that is recognized globally and will continue to be recognized (they transcend paper currency.) Now, let me state this, In my initial response I was speaking to Avernus about a misconception that a lot of people have with regard to the paper that they hold stating how much gold, silver, or other precious metals/stones that they hold. The paper is worthless. In a scenario where you need access to these items you will not have that opportunity to access them. That is why it is odd to me that many of these people who are dooms-dayers (and I'm not implying Avernus is) talk about the need to invest in only gold and silver, but they don't have the actual gold and silver in their possession; in a time of crisis they have nothing, nothing but paper saying that they have a certain amount of gold and silver... have fun going and collecting what the issuer of the paper says you have. Am I advocating that one switch from holdings in stocks and bonds to a portfolio entirely made up of precious metals and stones and hoarding them in their homes, absolutely not, the current economic conditions do not warrant such action. Do I think that diversifying some of one's holdings by purchasing precious metals and gems and having physical control of them is a good idea, yes. Precious metals and gems are great things to have during inflationary periods, they maintain their value during inflationary periods whereas currency does not, nor do stocks and bonds. Further, the portability/tangibility factor of these precious metals and stones allows for one to keep a certain amount of recognized wealth with them. It is no coincidence that the majority of the gold, precious stones, silver, etc... that has been mined throughout history is still in circulation today, these are not disposable items. SEC couldn't be any more wrong. What a ridiculous post. When the stuff hits the fan, it's going to be all about food reserves and hookers. Thankfully, I have plenty of both locked up in my basement. do you really believe we'll reach that point?.... They seem to be the same scenario to me. If you want to invest and hold precious metals with the objective being to divesify your portfolio, that's one thing. Piling them up in preparation for doomsday and I've got to agree with timmay. Have fun drinking a gold bar. Quote Link to comment Share on other sites More sharing options...
matt770 Posted April 23, 2011 Share Posted April 23, 2011 I like to have gold bars around the house just so I can feel wealthy. On the weekends we take the gold out and I put on a tux and we drink Manhattans. Then we make love on a big pile of hundreds. Quote Link to comment Share on other sites More sharing options...
wiegie Posted April 23, 2011 Share Posted April 23, 2011 (edited) if gold has no intrinsic value during times of crisis, Whoever argued that gold has no intrinsic value. In addition to gold's use in electronics, its intrinsic value comes from the fact that it is shiny, malleable and does not tarnish. I once almost, and I stress almost, told a class that gold also has intrinsic value because if you give it to a woman she will often have sex with you. (It's quite politically incorrect, but it might be true.) Edited April 23, 2011 by wiegie Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 23, 2011 Author Share Posted April 23, 2011 They seem to be the same scenario to me. If you want to invest and hold precious metals with the objective being to divesify your portfolio, that's one thing. Piling them up in preparation for doomsday and I've got to agree with timmay. Have fun drinking a gold bar. wow, you should go back and re-read some of my posts.....your post is very narrow minded if you think I'm preparing for doomsday... Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 23, 2011 Author Share Posted April 23, 2011 Whoever argued that gold has no intrinsic value. In addition to gold's use in electronics, its intrinsic value comes from the fact that it is shiny, malleable and does not tarnish. I once almost, and I stress almost, told a class that gold also has intrinsic value because if you give it to a woman she will often have sex with you. (It's quite politically incorrect, but it might be true.) silver tarnishes, but has intrinsic value.....if you drop a silver bar in fresh milk, it keeps it from spoiling and it is also used in medicine as well as it is many other things... and I'm not that big into gold as I am silver....regardless, I've more than doubled my investment in 2 years so who cares about intrinsic value until something severely catastrophic happens happens globally like Yellowstone blowing up to it's full potential (highly unlikely) - Lloyd Christmas would assume there's a chance of this happening.... Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 24, 2011 Author Share Posted April 24, 2011 apparently there's a chance we won't raise the debt limit and the markets will crash if this doesn't happen (as soon as Monday), I personally would rather get this depression over with by letting it officially run it's course....and then get on with whatever real recovery that would follow.. Quote Link to comment Share on other sites More sharing options...
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