interesting article

[Rich Hartford]

http://www.newswithviews.com/Vieira/edwin34.htm

 

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[jim4silver]

I don't think confiscation is even a possibility at this time. Since probably less than 1% of the general population owns gold or silver bullion, and since for years governments have been selling bullion by the ton. But, if buying gold and silver becomes popular to the citizens due to the dollar dropping and gold and silver rising, and it becomes the "in thing" to own gold and silver bullion, then perhaps confiscation would be considered.

For confiscation to happen, I believe the dollar would have to be near total collapse and gold and silver would have to be worth alot more than it is now. If the dollar totally collapses I could see the gov want to create a new currency backed by gold or silver, to gain credibility in the world markets, instead of paper fiat backed by nothing.

But like any other investments, when Joe Six Pack and the average people around the water cooler at work who currently don't even know money was once gold and silver start getting in, it is time for me to sell and get into something else. When any investment becomes too popular and it seems like an eternal fountain of profits, it is time to take profits and run. Gold and silver will be that next great investment that the masses will run to.

Just like the recent tech stock bubble and real estate bubble, there too will be one for precious metals I believe. Just not yet.

Jim

 

[Rich Hartford]

Good points ! I agree.

 

[BBcardsRI]

$1750 gold by August 2009.

And you can quote me on that!

~Dave

 

[jim4silver]

$1750 gold by August 2009.

And you can quote me on that!

~Dave

I hope you are right. That would probably mean silver is about 25 (or maybe higher) if that level of gold is reached.

Jim

 

[BBcardsRI]

I'd say AT LEAST $25 silver. When gold doubles, silver MORE than doubles.

Think about what gold was back when silver was in the high teens recently.

~Dave

 

[snake35]

This country is on the brink of martial law. Precious metals are on the list. The new homeland security regulations is not to stop money laundering by terrorist and drug dealers. It is to hijack this countries ability to stop the coming "Amero" In the coming one world government.
This economic crisis is a carefully orchestrated event. The big banks will buy all the little banks with federally supplied financial aid.

 

[silvercop]

liked the article, and what little gold i have nobody is going to take from me

 

[golden silver]

BURRY YOUR GOLD AND YOUR GUNS BOYZ!!! Uncle Sam will one day take em all!

-Golden Silver

 

[mistergee]

they can have my gold , silver, and guns when they pry them from my cold dead hands

 

[ScoobaSteve]

Some convincing headlines (CRH'ing is for me):

IRAN Purchases $75 Billion of Gold Bullion
http://www.goldbullioninsider.com/0811/iran-buys-75-billion.php

"It is clear that Iran has embraced a significant change in economic strategy. To buy gold. And lot's of it. Will other world governments follow?

Yes, in fact, the trend has already begun. Saudi investors have recently purchased $3.47 billion on gold bullion. And now there is talks that China may be increasing it's estimated 600 tons of gold supply into and beyond the thosand ton mark.

What's interesting about all of these big moves into gold, is that the current spot price of gold remains relatively unchanged from it's 30 day average of $750. How much gold does a country have to buy before the gold prices skyrocket back up to realistic levels? A trillion dollars worth of gold bars? Or perhaps if China does buy $5 trillion worth of gold, maybe - just maybe - we could see gold breakout past $1000 per ounce.

The reality is that gold is a finite resource - and eventually all of the demand is going to result in an explosion in gold prices. Whether it's a survivalist in Texas stocking up on guns and gold coins, or it's a Wall Street legend like Jim Rogers following his proven commodity strategy, or it's the Iranian government converting it's dollar reserves into gold - it seems that everyone wants gold. "

Chinese yuan set to replace dollar
http://www.asianews.it/index.php?l=en&art=14131&size=A
"Beijing has launched the experiment of using the yuan as a reserve currency in relations with 8 countries. Chinese exporters are asking to charge in yuan instead of dollars, because the U.S. currency is losing value."

Merrill Lynch says rich turning to gold bars for safety
http://www.telegraph.co.uk/finance/...ays-rich-turning-to-gold-bars-for-safety.html

U.S. Economy: 2008 Payrolls Drop Biggest Since 1945
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=ayRiTqF7A5Ag

BOE Cuts Rate to Lowest Since Bank’s Creation in 1694
http://www.bloomberg.com/apps/news?pid=20601087&sid=avTXAfm9.vhM&refer=home

State unemployment claim systems overwhelmed
http://news.yahoo.com/s/ap/20090107/ap_on_re_us/unemployment_glitches


And well, for those of us who can't splurge, there is silver.

 

[snake35]

Gold and guns are useless without ammo. Stockpile now!!!!!!!!!!!!!!!

 

[Troy Ounce]

I think , for what that's worth, Gold will reach $1500.00 to $1750.00 also. I think it is coming sooner than later.

 

[Rumblebelly]

all the more reason FDR was one of the worst presidents, forever changing the money of America. What's next, all coins made of steel to save the industry and other semi-precious metals.

What if they go after our silver too?

we certainly live in interesting times.

sorry if I sound harsh, I'm just not a fan of what FDR did
Rumblebelly

 

[nyiangelo]

That article is from 2006. I gurantee it would be written different if he wrote it today. Besides if it comes down to it are you really gonna want to turn over your pm's for some worthless paper? Your 90% dimes, quarters, halves , dollars, and gold are gonna do the talking on the streets. I pray that me and my kids never see the day and I wish it was a far fetched thought. But do your self a favor and diversify. Don't just stack 1 oz gold coins and $100 bills. As they say now's the time to buy cheap and stack deep....