Got G O L D? Got S I L V E R?

[TheRandyMan]

Ok...well...you got the University of Texas Pension system putting almost $1 Billion of its assets into PHYSICAL gold and taking delivery of same... ... and more than a few giant insurance companies as well...

You have central banks all over the world buying gold and stocking up....

You have demand for gold and silver going nuts in China and India...

You have all the fiat currencies of the world printing money to deflate the value of their currencies to make it easier to pay their debts and transfer their bad behavior consequences to the countries silly enough to buy their debt...

and NOW you have this coming down the pike...

Commodity Online
July 8, 2011

India to import 350 tons of gold, 1200 tons of silver

NEW DELHI (Commodity Online): India’s state-owned trading company—Minerals and Metals Trading Corporation (MMTC)—said on Thursday that it would import 350 tons of Gold and 1,200 tons of Silver in 2011-12 as demand for the precious metals is rising fast.

"We plan to 350 tons of gold and 1,200 tons of silver in the 2011-12 fiscal as the domestic demand for these metals are fast rising." MMTC Marketing Director Ved Prakash told reporters.

Rest of the story is here... http://www.commodityonline.com/news/...40594-3-1.html

Friends...don't wait until its too late...buy gold and silver NOW. You will be glad you did!

[spartacus53]

I'm just curious, what happens if people don't believe there is any value to these commodities

Could owning precious metals go the way of the German Mark, like after WWII It may take a barrel load to buy a loaf of bread.

Just a thought

[TheRandyMan]

Friend, it would only take a few minutes to find out that what they were rolling down the street to the supermarket was not gold and silver...it was paper money...huge bundles of it to buy groceries.

I believe that research will answer your question!

[worldtalker]

Only REAL money there is!!!!!!!

[bootybay]

Read this, got this this am..
http://www.goldworth.com/townhall.html

[spartacus53]

TheRandyMan, I understand that it was paper currency... My question is what if no one else thinks your gold and silver are worth anything. Even a barrel load of gold/silver can't buy a thing if no one has an interest in it.

If you are controling a commodity such as food, you would be able to call the shots on what you expect to be paid in. If someone wants a 4 loafs of bread for a sack of potatoes, metal won't do you much good.

[worldtalker]

Spartacus,Always had a nice garden in the Smokys,up north here I utilize 5gal. buckets,grow a lot in um.Save my seed year to year,none of that hybrid crap!

[TheRandyMan]

TheRandyMan, I understand that it was paper currency... My question is what if no one else thinks your gold and silver are worth anything. Even a barrel load of gold/silver can't buy a thing if no one has an interest in it.

If you are controling a commodity such as food, you would be able to call the shots on what you expect to be paid in. If someone wants a 4 loafs of bread for a sack of potatoes, metal won't do you much good.

My Dear Spartacus, if you do not believe that you will be able to trade gold and silver for anything you might want to eat, shoot, build with or otherwise utilize, by all means...please...do not buy gold and silver. Personally, I believe that there will be plenty of individuals who wish to trade their skills and goods for gold and silver....has been that way for many, many years and I believe it will continue to be so.

[spartacus53]

TheRandyMan, nope still not buying into it..

Bootybay, you post an advertisement from GOLDWORTH FINANCIAL, telling you how important it is to buy gold.. You may end up purchasing gold, or silver from them, or dozens of other company's.. Why would they be so willing to sell "YOU" something you couldn't live without..

They are making money on it

I don't see any ban on platinum.. Now isn't platinum several time more valuable than gold
I think I would be stocking up on that

[Zephyr]

If it takes a wheelbarrow full of money to buy a loaf of bread, how much money does it take to buy a wheelbarrow...? hmmmm....

[worldtalker]

That is where the 'Fedreal Reserve Note" in your wallet is headed,YOU'LL SEE !!!!!!!!!!!!!

[CaptainRobin]

Well, I got a lil' bit, don't know if it will ever do me any good, but I've got it. I prefer tangibles, like heirloom seed, fish hooks and line, and ammunition. Don't forget handtools, non-electrical powered. "And a country boy can survive..." Hank Jr.

[Frankn]

Well, I got a problem with gold theory! My daddy always told me to buy low and sell high. Gold is higher than ever. All those companies that sell gold at it's present high price will be out there buying it back when it drops. That's how they make their money. Another thing, I don't think there is enough physical gold in the world to cover all those sales listed.
Here's my take on it, oil will drop after that new law is passed outlawing commodity over the counter sales and the same thing will happen to gold after it gets the same treatment. Only time will tell. Frank

[FarmerChick]

I am not the type to run out and buy silver and gold.
heck, I am poor. I couldn't afford an ounce...what is it, like $1100 per ounce now?

is that why all those people are running off to Alaska and making reality shows searching for gold??
and going into debt even farther? oh well, I guess the show pays them right?

[Frankn]

I think gold is about $1500/Oz.
The thing that gets me about those shows is you see something like a prospector struggling to get up a hill and when you think about it you realize the camera man is up there shooting down !
Frank

[spartacus53]

Well, it looks like people are split on this issue...

Yup, I'll spend what little money I have on things I can either use, or resell at an inflated price... My best customers will be those that have to folk over gold/silver for their purchase.. Trust me, even an ounce of gold won't buy much from me Then when the inflated price of gold plummets, I still be able to sell it off for a profit.

Like Frankn and I said, these companies are in it to make a huge profit now and another one, once the market collapses.

[FarmerChick]

I think gold is about $1500/Oz.
The thing that gets me about those shows is you see something like a prospector struggling to get up a hill and when you think about it you realize the camera man is up there shooting down !
Frank

wow went up way more since I last looked huh

yea on the cameramen...I watched Unhooked, Monster Fish last night. Camerman got zapped by lightening on his head. the other guy and guide got a tingle, while the camerman took a hit but due to his extra thick shoes he didn't burn....hmmm....cameramen on these shows need big paychecks right!

[TheRandyMan]

I believe the point that many people are not understanding is that we are in a much different economic circumstance world wide today than ever before in the history of the world.

Computers came along .... internet comes along.... information expands like crazy and now is doubling about every 12 months... socialists come into power in the US and attempt to take the biggest free market capitalist economy in the world down the European socialist path...all the while the "lazy" southern EU countries that have been playing the socialist game for decades are finding out that when it comes time to pay for the "play" its a very hard row to hoe.

Printing paper money becomes the method used to devalue their currencies and distribute the pain around the world.

I don't believe you will see gold back at $200, $300 or even $800 ever again. The dollar will not be the world's reserve currency in the not too distant future. These prices you see now are the new baseline and as monetary policy continues to be unchecked with paper money printing unabated around the world the precious metals and commodities in general will be seen as the only true safe haven.

[Sky Pilot]

Huh. Rarely does it happen that I can see Spart's point, but I do this time.

Any item, gold and silver included, only become valuable when someone desires it.

In other words: Valuable or worthless, only desire makes it so.


Sky Pilot

[TheRandyMan]

Huh. Rarely does it happen that I can see Spart's point, but I do this time.

Any item, gold and silver included, only become valuable when someone desires it.

In other words: Valuable or worthless, only desire makes it so.


Sky Pilot

My point E X A C T L Y...people will always desire gold. It has been that way and it will continue to be that way...past behavior predicts future performance...