Why Gold and Silver are dropping ...

reply to post by stirling


Not all silver dollars have a high silver content.
I like Morgans, Peace, and American Eagles myself. If you can get
one of those for less than $ 20

reply to post by stirling


They cost more than that. Metals are weighed in troy ounces and there is always a surcharge over spot. I have bought virtually all of my gold and silver coins through APMEX.

When silver drops very low, it is sold out everywhere, so that is a factor to consider as well.

reply to post by SaturnFX


Your first mistake is pricing gold to dollars. Gold buggers like myself do not price in leveraged speculation and charts. We price gold in the behaviors of nations and their people.

If the TPTB and its monkeys make the price cheaper, well then, let me be the first to back up my truck for delivery. What you fail to understand is that physical gold is the best way to preserve wealth when currency is debased. Silver is second to gold.

You are looking at this market as a speculator and are therefore soon to be fleeced. About the time you figure out the difference between wealth and money.

Bottom line... 5 to 10 years from now, gold and silver will still have value, any value. All paper assets will have been obliterated. Simple as that.

Sure the paper will have gone full cycle and be replaced with something new but that new whatever it may be is not what most people will have access to because in the interim their paper holdings of old will get exchanged for fractions on the new but gold and silver will maintain their original value.

That's how its done during a currency reform and debt restructuring.

The Dollar is based on debt. The debt cannot be repaid. Therefore the promise to pay becomes more like a maybe and we'll see how much sort of thing. Repayment in full is impossible, even the debt service in full is impossible.

Originally posted by Dr Love

Originally posted by SaturnFX
Gold is just a rock.......

its a ploy..its a scam..

Then it's been a ploy and a scam since the beginning of human civilization.

Way to deal the Glenn Beck card BTW.

Sure you don't want to throw Alex Jones in for good measure?

Peace

It has, yes.
All economy past bartering has been just a scam, be it trading in shiny rocks, paper, or oddly shaped sticks with markings on it...its all just percieved wealth.
Saying gold is somehow magically imbued with monitary worth, that a ounce of gold has been given a divine magical property to be equal to 12 hours of specific labor tasks is just silly.

In "the future" a credit system will come into play, and no doubt fringe people will be saying paper money is more important than fictional electronic digits, because paper is something you can hold, digits is just percieved wealth...then beyond that, some unknown new form will come out and fringe people will demand we should hold onto our digits.

Don't get me wrong, gold is a pretty rock, but beyond being pretty...what is its true worth? it doesn't do much for the common person...not everyone us using it in circutry or transisters, you can't eat it, or rub it and it turns into a boat...it doesn't do well when trying to cut other things with it, etc...its just a pretty and somewhat rare stone.

the worth is completely propped up by perception, and when perception changes, it becomes worthless.

We could be arguing on how we need to go back to the barter system, as a loaf of bread has the value of a loaf of bread..a meal.

A cow has the value of X amounts of meals...this can be measured easily and without worry that somehow a 2kcal portion will suddenly lose value into not filling a belly.

I think the overall point is...currency itself is just an illusion.

reply to post by OnTheFelt


Wouldn't copper be the most sought after thing then?

I have a loaf of bread...I will accept a ounce of copper for it in trade.
You have gold and silver
Sure, give me a ounce of that also...I won't give you change.

copper has intrinsic value also, and allows for smaller transactions as easily as higher transactions

Why grab onto gold...why not diamonds? would you rather have a ounce of gold, or a ounce of pure diamonds?

Originally posted by SaturnFXI think the overall point is...currency itself is just an illusion.

An illusion compared to what reality? The law of the jungle?

Originally posted by SaturnFX
reply to post by OnTheFelt

 

Wouldn't copper be the most sought after thing then?

I have a loaf of bread...I will accept a ounce of copper for it in trade.
You have gold and silver
Sure, give me a ounce of that also...I won't give you change.

copper has intrinsic value also, and allows for smaller transactions as easily as higher transactions

Why grab onto gold...why not diamonds? would you rather have a ounce of gold, or a ounce of pure diamonds?

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

Primary uses:

1. Jewelry
2. Medium exchange for currency.
3. Dentistry
4. Electronics
5. Aerospaces
6. Computers
7. Medical
8. glass making
9. Symbols and Status
10. New uses in the future.

Originally posted by Student X

Originally posted by SaturnFXI think the overall point is...currency itself is just an illusion.

An illusion compared to what reality? The law of the jungle?

Bartering

i have stated in many previous threads related to gold and silver, the fractional reserve banking system handing out receipts for these metals surely cannot be sustained. the physical ownership is one thing but i liken the fractional reserve system to a game of musical chairs. when (if) the music stops, the majority who hold paper receipts may not..........!
f

Originally posted by GirlGenius
reply to post by stirling

 

They cost more than that. Metals are weighed in troy ounces and there is always a surcharge over spot. I have bought virtually all of my gold and silver coins through APMEX.

When silver drops very low, it is sold out everywhere, so that is a factor to consider as well.

Sometimes you can get very lucky, or very close to being lucky on buying silver at a very low price. True story about 3 years ago I was behind a senior citizen in a grocery line who to my shock, pulled out about 25 Morgan and Peace silver dollars to pay for his purchase which was close to the total owed. The clerk, being very young and apparently naive, did not know if she could accept them so she called for the manager, who showed up almost immediately, and confirmed to the cashier that it was ok to accept them as is.... he rapidly took them from the cashier and scampered
away probably laughing all the way back to his customer service center.

reply to post by fakedirt


Agreed, any paper asset is pure toxic!!!! You wanna know where my American Eagles are? Buried in a safe place. Yeah Mr. tax man is gonna penalize me, but who says I'm paying.

If you invest in metals you must, 1. know that it is for the long haul, 2. Get delivery on your metals ASAP.

It's easy... fools have been saying not to buy precious metals for a long time.

I first heard this when it was at it's low in October of 2008. I at them then, purchased my first bit the first week of November, and have been doing so with every extra bit since then.

The price has since tripled in what? 27 months now. Yeah, whatever guys. You can say it's a scam. You can abstract to the point of oblivion, but the reality is it's purchasing power has been increasing for quite some time in recent years, and will continue to do so as the fiat currencies become toast.

Originally posted by OnTheFelt

Primary uses:

1. Jewelry

I see your gold and raise you pearls

2. Medium exchange for currency.

Yep, that would be the discussion going on here

3. Dentistry

Yes, the pinnicle of society
[atsimg]http://files.abovetopsecret.com/images/member/83347f3e264e.jpg[/atsimg]
Gold is used in some fillings, but there are far more effective methods now, to include carbon nanofibers and

4. Electronics

Yes, gold has some modern day applications. much like silicon and copper

5. Aerospaces

Yes, gold has some modern day applications. much like silicon and copper

6. Computers

Yes, gold has some modern day applications. much like silicon and copper

7. Medical

? in what regards...

8. glass making

Coloring glass can take many forms, from using gold, to many other methods to replicate the same effect.

9. Symbols and Status

Aka, jewelry

10. New uses in the future.

Such as?
Why not say chicken blood may have great future uses...or silver may be found to create warp drive. you can't use "future uses" as a current use...


Gold has functions, yes...but copper has far more functions, or steel. I can melt down and create a beautiful copper thing to use as jewelry, or convert it into electronics, or then again transform it into a strong and sturdy weapon (something gold can't do).

Now, would I accept a semi truck full of gold? most definately, and I would immediately cash in most of it, and with that, buy the one thing that truely is worth something..real estate.

Originally posted by unityemissions
but the reality is it's purchasing power has been increasing for quite some time in recent years, and will continue to do so as the fiat currencies become toast.

edit on 20-1-2011 by unityemissions because: (no reason given)

Yes, the bubble will never burst.

I never heard this argument before...nope...never. there has never been a instance where we have had some sort of bubble based on percieved worth that has ever backfired.

Originally posted by fakedirt
i have stated in many previous threads related to gold and silver, the fractional reserve banking system handing out receipts for these metals surely cannot be sustained. the physical ownership is one thing but i liken the fractional reserve system to a game of musical chairs. when (if) the music stops, the majority who hold paper receipts may not..........!
f

You're right, they're not going to be able to deliver on the physical metal. The writing on the wall as I see it is that anybody holding physical gold and silver will eventually be labeled a "terrorist".

The fact that they've already said they can't deliver will eventually result in the price skyrocketing. So how do they manage that?........through fear.

Peace

reply to post by unityemissions


Well said Unity!

I bought my gold around the same time as well. I hate to be negative, but why does it always seem that gold criticizers cry foul because of the simple fact that they just don't have any.

Reminds me of Ben Affleck's monologue in "Boiler Room" when he says, "Anyone that tells you money is the root of all evil, doesn't fu$#ing have any."

reply to post by GirlGenius



The recent ongoing drop in gold and silver is undoubtedly high-level financial crime being orchestrated right in front of our eyes. The facts do not justify the downtrends.

There are reports indicating gold and silver shortages
www.gata.org...
www.zerohedge.com...

U.S. jobless rate is 22.4% in reality cause the official figure does not include those discouraged long-term jobless.
www.globalresearch.ca...

The upcoming Cheviot's gold conference on January 27 2011
www.abovetopsecret.com...

As Jim Rogers said, "U.S. is the largest debtor nation in the history of the world".
www.youtube.com...
U.S. debt = $14.05 Trillion and counting!

It's really disgusting to witness the propaganda lies by the government and media.

reply to post by SaturnFX


I see you're way out of your league here, sweetcakes. Your last response is borderline trolling, but hey it's cool if you write and act like a rookie, guess what you are one.

It's not my job to teach you the fundamentals of gold, but then again it's not that hard to figure out and that's the whole point.



You're not paying attention, buy the fu$#ing DIP!

Originally posted by SaturnFX

Originally posted by unityemissions
but the reality is it's purchasing power has been increasing for quite some time in recent years, and will continue to do so as the fiat currencies become toast.

edit on 20-1-2011 by unityemissions because: (no reason given)

Yes, the bubble will never burst.

I never heard this argument before...nope...never. there has never been a instance where we have had some sort of bubble based on percieved worth that has ever backfired.

Take you reasoning and shove it, because I never mentioned anything remotely close to what you said.

reply to post by Dr Love


Exactly. The whole time I was reading I was thinking "sweet." Everyone here should try to buy metals. Even if you are in a low paying minimum wage job, set 30 sum odd dollars aside each paycheck and buy an ounce of silver.