Musings on today
mhammerman
Posts: 3,769 ✭✭✭
$31 gets you a burnished 2008 SAE from apmex with spot at about $11; doubtful that the numismatic value could make up for this one. If you want anything else in silver or gold...think shot. Kitco is even more interesting because you can get in the pool and have paper metal or you can suck air. In a phrase...Dried up!
Dow is looking at sub 10,000 today, down from 13,000 and people are bailing with both hands. Who ever gets wachovia will be a tale in itself and may well be the bellweather for ascertaining how the shark tank works in the new world order; wells fargo with buks to buy wachovia and citi with no buks but government guaranteed loan funds for the purchase. Wells fargo healthy and on it's own; citi in panic mode with govt. backing. Took all my money out of my stock account last January and put it in inflation linked bonds. Gain of about 2% so far this year in the inflation linked bond while the index of stocks from the same fund have lost about 26% this year so almost a 30% difference. Whodathunk that 2% in the black would be gleeful compared with 26% in the red...strange times.
Complete disconnect from metal spot and metal demand...it's cool, we can just hide and watch. Someone asked me how I felt about gold getting hammered recently and I said, "It goes up and it goes down." Everybody has an opinion but when you got that stuff in your hands you can just sit back with that little grin on your face.
Big bail out...wife and I decided that anyone that voted for the bail out was not getting our vote next month. One thing for sure is that if you don't vote then the decision will be made without your input so we're voting early and often. It was pretty interesting in a depressing way that we both called our representatives as did millions of others but they voted for it anyway...will of the people my butt. Noted that earlier in this thread we discussed that the program mania that the govt likes to stick us with is probably going to get stressed and that should result in the many programs getting unfunded during the next few months. They will still exist but they will be unfunded. At some point the major cities are going to have to decide if they want a police/fire department and ambulances/hospitals and roads/bridges or if they want to still have programs for special interests/special needs. There are going to be some very angry people when they find out their funding is cut, they will be yelling and screaming but for naught...there aren't going to be the buks.
Confiscation could happen but probably not. I seriously doubt that they will come for private gold realizing that it could happen but probably won't. What's that saying that when guns are outlawed, only outlaws will have guns...kind of like metal but the nice thing about the metal is there are other places to sell. Don't be talking about armed resistance, it ain't gonna happen except for maybe by some very foolish people. If you're smart enough to have metal right now, you're smart enough to be able to do something with it when the time comes.
So, most people that have been paying attention should be well entrenched in what ever position they chose earlier in the year. Now is time to let the sharks eat their fill while we watch the carnage. There is little we can do but stay out of the way and keep our powder dry while we wait for a clear shot at something that will result in a nice gain. Unquestionably, cash is king, gold is good and time is on our side.
JMHO
Dow is looking at sub 10,000 today, down from 13,000 and people are bailing with both hands. Who ever gets wachovia will be a tale in itself and may well be the bellweather for ascertaining how the shark tank works in the new world order; wells fargo with buks to buy wachovia and citi with no buks but government guaranteed loan funds for the purchase. Wells fargo healthy and on it's own; citi in panic mode with govt. backing. Took all my money out of my stock account last January and put it in inflation linked bonds. Gain of about 2% so far this year in the inflation linked bond while the index of stocks from the same fund have lost about 26% this year so almost a 30% difference. Whodathunk that 2% in the black would be gleeful compared with 26% in the red...strange times.
Complete disconnect from metal spot and metal demand...it's cool, we can just hide and watch. Someone asked me how I felt about gold getting hammered recently and I said, "It goes up and it goes down." Everybody has an opinion but when you got that stuff in your hands you can just sit back with that little grin on your face.
Big bail out...wife and I decided that anyone that voted for the bail out was not getting our vote next month. One thing for sure is that if you don't vote then the decision will be made without your input so we're voting early and often. It was pretty interesting in a depressing way that we both called our representatives as did millions of others but they voted for it anyway...will of the people my butt. Noted that earlier in this thread we discussed that the program mania that the govt likes to stick us with is probably going to get stressed and that should result in the many programs getting unfunded during the next few months. They will still exist but they will be unfunded. At some point the major cities are going to have to decide if they want a police/fire department and ambulances/hospitals and roads/bridges or if they want to still have programs for special interests/special needs. There are going to be some very angry people when they find out their funding is cut, they will be yelling and screaming but for naught...there aren't going to be the buks.
Confiscation could happen but probably not. I seriously doubt that they will come for private gold realizing that it could happen but probably won't. What's that saying that when guns are outlawed, only outlaws will have guns...kind of like metal but the nice thing about the metal is there are other places to sell. Don't be talking about armed resistance, it ain't gonna happen except for maybe by some very foolish people. If you're smart enough to have metal right now, you're smart enough to be able to do something with it when the time comes.
So, most people that have been paying attention should be well entrenched in what ever position they chose earlier in the year. Now is time to let the sharks eat their fill while we watch the carnage. There is little we can do but stay out of the way and keep our powder dry while we wait for a clear shot at something that will result in a nice gain. Unquestionably, cash is king, gold is good and time is on our side.
JMHO
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Comments
I knew it would happen.
<< <i>Confiscation could happen but probably not. I seriously doubt that they will come for private gold realizing that it could happen but probably won't. What's that saying that when guns are outlawed, only outlaws will have guns...kind of like metal but the nice thing about the metal is there are other places to sell. Don't be talking about armed resistance, it ain't gonna happen except for maybe by some very foolish people. If you're smart enough to have metal right now, you're smart enough to be able to do something with it when the time comes. >>
IMO, the best way to avoid confiscation scenarios is to hold pre-1933 US gold. That's most of what I've got, and I'm not worried a bit. Besides, those indians - like in your avatar - sure are purdy!
I've always wondered why anyone would expect pre-1933 gold to be exempt from any confiscation, when the Mint's been selling "collector" bullion now for 22 years.
Thinking that what happened (or didn't happen) in 1933 will protect anybody from the insider corruption that we are seeing in Congress and on Wall Street is - simply a pipe dream.
TPTB can do anything they want to do.
I knew it would happen.
mh, do you really think that pre '33 US gold coins would be exempt if they wanted them?
And, from a legal standpoint, I would think that collectors who've paid the Mint money for what the government has declared to be "collector coins" would have a good case.
But as I said, they can do anything that they want to do, especially in times of "economic emergency" like these. If the bailouts don't work (and they won't), the emergency has already been declared. Plan accordingly.
I knew it would happen.
Minus the guys that pay the Mints high premium...They already have your info on file...
Mine has been bought off the BST and with cash at the B@M....
<< <i>And how are they going to know who has gold????
Minus the guys that pay the Mints high premium...They already have your info on file...
Mine has been bought off the BST and with cash at the B@M....
>>
Sorry, you just went on record.
<< <i>
<< <i>And how are they going to know who has gold????
Minus the guys that pay the Mints high premium...They already have your info on file...
Mine has been bought off the BST and with cash at the B@M....
>>
Sorry, you just went on record.
What gold...
I sold all that stuff when gold hit a thousand and ounce SIR.....
I think that's a fool's psychological insurance policy. Gold will be gold, regardless of form.
In today's world, there is a stormtrooper mentality when it comes to Government.
Gold is easy to hide, even 100 ounces is no larger than 5 rolls of quarters.
Tell them you sold it and expect a visit from the IRS.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Tell them you sold it and expect a visit from the IRS. >>
Or tell them you dropped in a Salvation Army bucket anonymously at Xmas...