Please. Sell your Gold NOW! It's a trap.

smart money isn't buying gold, they're HOLDING gold.

One thing that I've wondered for a while: if paper money is on the verge of being worthless then why would companies that sold gold accept paper money as a method of payment? The companies that sell gold (for example, goldline) try to convince people that gold will be the only valuable means of exchange after an economic collapse, while at the exact same time they're giving away all of their valuable gold and absorbing as much worthless paper money as they possibly can. Sounds fishy

Originally posted by Griffo
One thing that I've wondered for a while: if paper money is on the verge of being worthless then why would companies that sold gold accept paper money as a method of payment? The companies that sell gold (for example, goldline) try to convince people that gold will be the only valuable means of exchange after an economic collapse, while at the exact same time they're giving away all of their valuable gold and absorbing as much worthless paper money as they possibly can. Sounds fishy

Because they are running a "for-profit" business. They probably do buy personal gold with their profits.

For the same reason, everyone goes to work everyday, which is to earn a living. They are buying and selling Precious Metals as their job or source of income. Just like I buy gold/silver, but I have to have an income in order to purchase that gold/silver. You cant pay your bills or send your kids to college buy buying PM's and holding them for 10-20 years without another source of income.

A dealer or wholesaler of anything, generates revenue by turning over as much product as they can as quick as they can.

Why do drug users sell drugs? They could just buy drugs and do them all up and not sell to anyone. But they dont. They buy and sell drugs in order to make enough money to buy more drugs or sell enough to get their drugs for free.

Investors buy and hold. Dealers or wholesalers who want to earn an income off gold/silver buy and sell to the public and make revenue on the spread.

reply to post by eLPresidente


Yes they do, and it is for everyone to deside what he or she thinks is best.
So i respectfully disagree with the OP about "sell your gold now"

reply to post by sbctinfantry

Interesting thread and obviously it has tempted me to comment even though I have grown again tired of the BS this site/forum has devolved down to.

So okay, let me clue you in. First, the gold I had was bought just after 9-11 due to my desire to be liquid in case I decided to leave the USA, which I have but timing is of course everything. The Gold I bought for in the $400 range became a heavier burden as the price went above $1,000 but I have held on pending the inevitable crash of the dollar, at which time I have a buyer who will take all I have at the then market price. I am not you and the fact in most of your cases you should no longer be spending your money on gold and should in fact be selling what you have privately and buying things you can not do without. Why? because the price of all commodities is going through the roof, particularly food. If you have not been stock piling food and Depression Barter Items (Booze, Cigarettes, Coffee..things people will always want and will trade for) you are a fool. Having a few coins of gold and silver is fine but if your walls are not stacked high with things you use, need and can trade with; if you are not prepared to be totally independent, you're a fool because all of this is coming down..the End of October.

reply to post by MajorKarma


My walls are stacked high

Good advise

reply to post by sbctinfantry


ETF's are worthless pieces of paper where the banksters have sold the same gold holdings a hundred times over. If owners of ETF's demanded "physical" delivery then the game would be up! Soro's made his money and now with Chavez of Venezuela requesting delivery of 90% of physical gold holdings be shipped back to Venezuela JP Morgan bank will be scrambling to cover ETF obligations - essentially it does not hold enough gold in its vaults to cover Chavez's request and support the ETF market.

ETF's are an Enron type scam - beware if you are invested in them. Demand delivery at maturity or sell and get actual delivery as soon as possible.

Physical Gold and Silver are not the "bubble" worthless investments oversold called ETF's are most definitely ready to burst as a bubble when all realize not enough product exists to support the market value of ETF's

Physical holders will see their holdings increase while "paper" holders will lose their proverbial butts.

Demanding delivery is the only way to beat the banksters and the FED.

Mission accomplished...

Walked in with: 2 x 1oz American Eagles and a handful of Silver 'rounds':
(all purchased 3-1/2 years ago)

Walked out with:
- 16 x 1t oz of .999 silver rounds
- 8 x 1/10oz American Eagle golds ($220 ea, current)
- Check for $1,900

I'm happy, no matter what happens
(hmmmm... I, also just had a wicked idea)

How I try to figure this out is by listening to the message of the markets. Now, it´s a matter of historical record that the price of money (debt) is close to a 100 year high. At the same time gold and other similar collectables that are supposed to guard against the devaluation of what is at an all time high - are also at an all time high. Something is obviously seriously off here. What will give? Time will tell.

reply to post by sbctinfantry
[more

Sorry to say your wrong!!!! Right now China and India are buying tons of GOLD and selling their American dollars!!! They are most of the world we are not!! What we do in the US means very little on a Global scale... China has more American dollars then we do and they are selling it all!! China and other countries want us to fail!! Buy Oil,Gold, land and other natural resources!! Buy Guns too!!!

reply to post by 3rdeyeNick


Do not accumulate what is in oversupply to money - whose price is at a 100-year high.

reply to post by ShadowMonk


see my new thread on Inflation ... and why people seek the safety and security of gold or silver

reply to post by fnpmitchreturns


It´s just propaganda. The world is swimming in oversupply and overcapacity and endless supply of dirt cheap labor. The 100-year high price of money clearly reflects these stupendous deflationary forces.

SELL WHILE YOU CAN!!!



I am having a deja vu back to 1980. Gold had shot up to unbelievable levels in a short period of time. People were buying it left and right.

Then the bottom fell out.

People had to wait 28 years for gold to get back to that price again. They lost a lot on interest with inflation or if they sold before then.

Gold is becoming the ultimate suckers bubble. Every where you turn, you are getting "buy gold" shoved down your throat. Being pushed a little TOO much for my liking.

It makes much more sense to invest in the things that you actually use cash and gold to purchase.

Food, water, medicine, ammo, gasoline, supplies, etc.

You cannot eat or drink gold.

You cannot buy food, water, or medicine with gold. What are you going to do, shave a sliver off at the store?

You will have to convert it to whatever the new world order money will be.

Do you actually think they haven't thought about all of this in advance?

There will be all kinds of fees and charges to convert gold to money.

The only way to beat the system is to play the system and fly under the radar.

Think for yourself. Don't follow the masses.

Not scaremongering, but this strange obsession with gold in guarding against the devaluation of what has been rocketing in value has resulted in dangerous technical alarms in the yellow metal.

The Bollinger Bands are indicating an overbought market. The market may though continue to become more overbought before eventually reversing.

The market is still bullish because the fast moving average is above the slow moving average.

Price is above the moving average so the trend is up.

RSI is in overbought territory. However, the market may continue to become more overbought before a top is established.

The stochastic is in overbought territory; this indicates a possible market drop is coming. The trend though is up.

Volatility indicator is trending up.

Momentum Indicator indicates an overbought market. Trend is up. A downturn is possible here.

The trend is your friend.

Never forget that.

reply to post by Dance4Life


Right, but what lacks in those technical indicators is fundamentals. Which I argue is missing in action. Perhaps this is though reflected in market behavior. We shall see.

reply to post by galdur


Fundamentals of gold don't really equate to "inflation hedge." Which is classical gold thinking. This in my opinion never has really been true, but anyway.

More or less is centered around the debasing of currency. We also have had some problems recently with the Euro banking crisis - which is menacing to our equity markets as well.

reply to post by Dance4Life


The problem with this argument is the fact that the price of money (debt) is currently at a hundred year high. This is a result of extreme technological advances (a wave that will keep rising for decades to come) incredible oversupply of everything, almost unfathomable overcapacity and totally endless supply of cheap labor. I´m sure that it´s difficult for people that have been brainwashed into the shortages/inflation/Mad Max apocalypse to grasp the power of these deflationary forces.

The money supply has been increased tremendously, and fast. It's almost like we are frantically looking to see how fast we can get inflation to the 10% mark. BTW, gold hasn't hit it's inflation adjusted equivalent of $2100 ( set approx in 1980). Many experts think gold is heading up to $10,000 an ounce within 2-4 years. The main problem we have is that money supply grew so much. Inflation is not far behind.