Investors in Europe and North America went on an extraordinary shopping spree for gold coins and bars in the final quarter of last year, snapping up 148.5 tonnes, a jump of 811 per cent compared with the same period in 2007, as the collapse of Lehman Brothers (NYSE:LEH) led a massive increase in safe haven buying.
This rush into physical gold by western investors pushed global retail investment up almost 400 per cent to 304.2 tonnes, according to the industry-backed World Gold Council, which released its fourth-quarter Gold Demand Trends report on Wednesday.
The WGC's data confirmed earlier reports from traders about widespread shortages of coins and exceptional buying interest. Retail investors in France, for example, become net buyers of gold for the first time in a quarter of a century at the end of last year.
Post by mightyspuds on Sept 8, 2009 8:05:36 GMT -8
Gold over 1000.00 today,silver hits 16.80.
My gss I bought at 3.02,it collapsed to 1 dollar and is back around 3.30 today.Not bad thru the whole DOW collapse.
SLV Im in at 11.20 averaged,its 16.80 today.
The other holdings in at 80-100% on gold,and 50-60% up on silver over last 4 years.
Real glad I listened to bud and got out of stocks and into metals.
Yep,they can still go down and do,but would have to go waaaay down to slam us.
Dollar facing lots of downward pressure with China pulling out of dollars and the new Japan ruling party very anti dollar.They are the 2 largest dollar purchasers in world by far.All signs bad for dollar and good for metals.
For a long time now I have heard the call to buy gold, buy silver, buy unobtanium....Which is all well and good I suppose. But...what are you going to DO with it? I mean, you can't eat it, can't make clothing out of it, can't heat with it. Barter I can understand, and do quite often, but the gathering of gold and other metals puzzles me some. I suppose you could whittle off a hunk to pay for stuff if times got tough, but then what? Strikes me you might as well be using broken glass as a currency. Historically I realize that is what we are used to as a signifier of wealth, but I wonder how useful it will be if/when the economy goes completely down the tubes? "I'll trade you a pound of green beans for a bucket of those apples" makes more sense to me. ??
If you got out of stocks after the first rumblings,and went into metal you would be in real good shape right now.
In all the recent collapses around the world metal held value,and was redeemable at BANKS.To pay your taxes for one,and to redeem into local currencies at a good rate to buy what you need.Argentina is a perfect example of how it works and works well,even today.
In a starvation situation,it wont matter,we will all be lucky to live at all IMO.I dont think either metal or storage will help,it will be kill or be killed so wont make any difference,lets hope we never see that.
I know the bad guys could burn me out in a heartbeat,my pantry wont protect me,nor will a gun in that situation at all.See 'flaming arrow' for that cheery prospect,eh?
In Argentina the Banks took gold at the world price.They were much happier to take it then the local currency.Though you did have to take it at the official government exchange rate.
The street vendors and such were a ripoff just like 'Cash for Gold' and such are here.
Ferfal has real good info on that,he is the guy who went thru it all.
Folks with Gold/silver preserved all their wealth,those with paper currency,ie, FIAT currencies were destroyed and had their savings decimated.
There is a reason Central Banks hold TONS of Gold,and why the Wealthy do too.
The media would LOVE you to think Gold is a quaint notion.Look who runs the media,the power elite.Who LOVE you thinking paper and ink has as much value as a rare commodity with a 5000 year history of value.Not a single fiat currency has not collapsed eventually,not a single one.
Gold and silver has always had a value,always.Find me a time ever when gold or silver has held no value.
Final thought?Stock market has lost 40% of your savings.In same period Gold and silver are up at least 20% right now.And many FUNDS cant be redeemed at ALL,while Gold and silver can be redeemed in a heartbeat,thru it all.AND at a premium price OVER the spot price,got any dollars or stocks redeemable OVER spot price right now? NOPE!
Thats why metal is a part of survival .Its just not DooDoo hit the fan,in a FINANCIAL COLLAPSE nothing is safer for MONEY than metal and this current CRISIS has proven it.I cant GET OUTTA DODGE with 10,000 or 100,000 in any sort of trade product,I could do it with a pocket full of gold,if i had such,tomorrow.
Remeber ANNE FRANK? How did her family survive the worst situation in modern history,the Nazi's wanting to KILL them? Yep,they hid and bought food with GOLD.Not whiskey,not 2x4's,etc.....GOLD.
Yes,metal is real and in crisis it shines like no other currency.
See? Ive given examples where it works,and admit to only one were it doesnt,total famine.
Can you think of ANY examples were Gold has failed,especially in the last 2000 years short of famine? Oh...POTATO FAMINE! Yep,gold folks ate just fine,amazing.The populace starved,they had NO MONEY to buy spuds,they were sent out of country to earn CASH! Cash was King,and Gold was the ULTIMATE ruler.Had cash,you ate.That simple.Potatoes also werent prohibitively expensive at all,when you have NOTHING then you didnt eat.A FINANCIAL collapse and starvation,that simple.Had they had money food was available.
Has metal protected me? Im not down 40%,overall Im up over 100% last 4 years.Thanks to metal, and metal stocks that I cant move out of IRA.Those babies are up 15-40 % right now too (my holdings),not many other stocks making that claim.
And you still doubt metal? Learn from historyy,your excess capital is in good hands in metal,though Im not buying at current high prices,I love silver at 8-10 dollars,love it at 12,like it at 14.Love gold at 550-650 ounce.
And know what? I heard the same thing about how overpriced and worthless it was at those prices too.So worthless its up 50-100% depending on your buy point in 4 years,AND cant be hedged,or fraud-ed,or manipulated or lied about or stolen in a pyramid,or stolen thru stock fraud....NOPE,no games,its in your hot little hands and nobody can manipulate It,or lie about it ,or anything else.
Thats what a currency is,and what this Country had when we made it big.Now we are fiat and bankrupt,see a connection?You can print paper,you cant print gold and silver.
Dan,if youre truly interested in learning about metal you have to make a BIG time investment in studying metal,fiat and history,and how it all interplays.You can spend years doing nothing but that as your hobby.
For me,I met a man who had done just that,and i QUICKLY FIGURED OUT HE WAS a very intelligent man who was sharing with me a decade worth of knowledge.
Realizing I had stumbled into a smart man,and a nice guy too,I LISTENED! And he showed me how,and why,currency is what it is,and how its manipulated,and how the Bankers have robbed us,AND I LISTENED.
I still dont have in my entire body the wisdom he has financially in one toenail,but I know something.
When you meet a SMART person,its time to do some homework,establish their credentials,and when you meet that rare gem,its time to shut up,listen,and act.
Thats what I did,guy has preserved my savings and increased my wealth thru what is only second to the great depression.Had this been the GREAT depression I'd be wealthy,as metal stocks soared in the financial collapse
His other advice? Property,farming,off grid,ie HOMESTEADING. NO BILLS. Savings in a SAFE currency.Home protection from whatever.Dodge Diesel Cummins Truck,LOL,really!
See? I met a SMART man and listened and he gave me a wealth of wise knowledge,I listened,Im acting,and he hasnt been wrong once yet,not one single time.
AND,all because of the net,that where I met my Bud.
Ummm...I can only imagine what the banks here would want to cash in your gold. Been given three old whiskey barrels...maybe it is time to brew some "security" for the future?!!
Yep,cant eat gold.Cant eat 2x4 's either,LOL.
About whiskey,if times are that bad,and there is NO CURRENCY (when was that he asked???) Do you really want to be dealing with alcoholics,or worse yet ORGANIZED CRIME because you are in THEIR territory?
Not me. Thing is,we get that bad,its time to hole up and deal with the immediate neighbors and no one else Im thinking?
Jeez, I wasn't thinking of going into the rum running business! Local trade only. It was done around here in the thirties and the stories I have heard about that method of barter are hilarious. The only precious metal I have is lead. Close enough!
Post by mightyspuds on Oct 14, 2009 2:48:32 GMT -8
Gold has strongly burst thru the 1000/oz barrier.
Right now at 1064 spot price as I write this.
A coin goes for 1150-1200 dollars on ebay.
If you doubt golds value think of this....hold 3 quarters in your hand.Thats 3 gold coins in size. Thats also 1200 watts of solar and 16 100 amp hour batteries for example. All in the size of 3 quarters.
That 7,200 i spent on the truck is all contained in just 6 quarters worth of gold.
Thats some amazing wealth in a tiny package,and a clear reflection on the value of our paper dollars,and the value of gold. Whether you agree with it or not,its reality.
Okay, let me ask this-Did the folks you bought the truck from accept gold as payment? Or the solar outfit? Not knocking the theory, but I don't see the reality of the thing...YET. Perhaps one day quite soon though...
Stocks are pieces of paper that says it is so much and gold coins are real. Stocks can be worth nothing and gold will be worth something. BUT rather you would be able to spend it.
I can not afford gold. I am on SS now and never could afford to invest. Liquor is illegal to make. You can make wine so many gallons for the family. Beer I guess not legal but they are not bothering with a little of it made. It takes a still to make whiskey.
If some came to me to buy and had silver coins and wanted more for them than face value no way. Bank will not give it to you. Some banks want money to take in coins. Mine will except okay with out charge. Parking meters will not take nickels and dimes now let alone pennies. They have a slot for dollar bill now. And quarters. I drove up the go in the state parking lot for state building and there is a curb and walk now there. .50 an hour where I parked on the street in big city. I put in for couple hours to go get driver's license renewed. Did not take that long and it was $21.
There was some outfit in city last month buying gold and silver stuff.
I use to keep few coins in can ash tray in car. For parking if I did not have any or gas or phone call. Gas too high now for coins. Some would take it and I told why it was there and that end his taking. I heard him tell Angela not to take the money as it was emergency money.
I am still tossing the state quarters in the bucket to save. A bucket of quarters is worth more than an empty bucket. Least is some savings. Got a new one to day . The DC one. I do not think they will be worth more than face value.
County has said now they have to cut 26M from 2009 budget to set the 2010 budget, Has to be that much smaller. Cut things and all county employees will have to take two days off with out pay. No wage increases again. And things are better. Realestate is down 35% in sales the paper said. They sure are building them across from me. And not little.
I left Colorado in 1980 due to family illness. I still miss the place-mined for many years at Henderson, Climax, and the east bound bore of the Eisenhower tunnel. As i understand it, the population has grown insanely throughout the state. I remember Denver metro area was becoming no mans land before I left... But the gold thing I just can't get too excited about. I suppose it is nice for those who can or choose to afford it. I would rather have a bag of beans and some other food stuffs than a piece of gold. Just seems more practical to me. To each his own.
Post by mightyspuds on Oct 15, 2009 7:18:20 GMT -8
Yes,gold is for savings after preps are in.Not before. I prefer it to dollars for assets beyond needs.Makes for a good savings program,no urges to just cash it in.Also has many benefits in estate planning/taxes.Thats another reason the gov hates it,they cant track it.
Whats with the BS you pull or put 10 G cash in the bank and its reported to the gov?? Thats NONE of their business what an honest American does,instead we are tracked like criminals,BS I say.
Post by mightyspuds on Oct 15, 2009 7:38:46 GMT -8
Their is a mining club down here that has a claim in Big Bear where members could pull .25 to .5 ounce a day back in the late 80's,early 1990's I remember.Just way to much labor for my poor back.
We occasionally hear on the MSM about folks mining a local river canyon,lots of folks have done so.I give em credit,for a strong body thats darn smart IMO.Still lots of Gold in this state for the little miner.
The limits to personal REPORTED wealth are becoming more constrictive as time goes by. Yes, I agree about the ten thousand dollar limit. I would be surprised if that has not been lowered without our being aware of it. One of the reasons I refuse to bank. I worked on the tunnel crew at Henderson mine-a 14(or16 depending who you believe)mile haulage tuinnel UNDERNEATH the ore body-which was quite huge and deep. It was not at all unusual to run through a patch of gold ore here and there. Will make you sick, but we used to shotcrete over it! Of course you must realize that ore is one thing-the processed result is quite another. I did find a tiny nugget one night that fell down on the jumbo from the back somewhere-vibration must have knocked it loose.
Okay, let me ask this-Did the folks you bought the truck from accept gold as payment? Or the solar outfit? Not knocking the theory, but I don't see the reality of the thing...YET. Perhaps one day quite soon though...
I could have paypaled it into my checking acct in a heartbeat thru ebay on an instant sale.It isnt like you cant redeem it real fast at world price,that market is alive and well.Put it out at spot,plus coin premium and you can instant sale it instantly on ebay.A dealer will pay spot or slightly more INSTANTLY for a coin,their profit will be in charging the minted coin premium on selling.Dealers exist,They are real.
And I have made trades.No doubt solar guy would have taken it ( He will take ANYTHING,he is going under fast,he isnt bargaining at all,just money,NOW is his mantra.Multiply him by a society and there is your SHTF financial collapse,Gold WILL shine,always has.ALWAYS,in a currency collapse of fiat).
Its not a big deal to convert it,just a billion internet bullion dealers that make real buy/sells,not the cash for gold scammers,real dealers,real competitive world prices.You pay a small premium to buy/sell.Far less than dollar which only loses value.Take what your year 2000 dollar bought,take what your year 2000 gold coin buys today,one has lost value,one has quadrupled.Even with the dealer premium,should you go that route,or the ebay fee,guess which one is the better value by like 3-400 PERCENT.
BTW,gun shops love it,and the asian/immigrant grocers/stores love it too. Swap meets? Read some classifieds like in hunting mags/craigslist,all sorts of people deal in REAL money NOW.
Send the dollar reeling and watch out how fast mom and pop learn the NEW currency.As has happened elsewhere.Dont forget,the closest thing we have to a recent currency collapse was Argentina,they werent third world back woods country either,quite a modern place.
The major Banks,including Citibank for one (Another 'American' major,name escapes me,did too.As did the foreign majors.....) took bullion.Yep,those with bullion preserved their wealth,ALL OF IT,those with fiat got slammed,and gold DID trade for the local currency all over the place should you need to.
Yep,they did indeed eat their Gold in a currency collapse.Without losing a bit of their purchasing power.Same story when Mexico devalued/stole everyones money,though Im not sure what Banks did,wasnt studying it back then.
Post by mightyspuds on Oct 16, 2009 12:00:08 GMT -8
Im LOVING how the MSM propaganda channels cant even mention Gold has broken the 1000 dollar ceiling all week.Bet your drawers it drops 25 bucks they will be all over it.
News for sheep,its all we get.
Shhhhh......Nobody is supposed to know the dollar is worthless....shhhhh...... Lets fleece the populace......Buy stocks,the crisis is over......
Who controls the MSM,why,the PTB of course,and the HATE honest money,they like their COUNTERFEIT paper they SELL to you,then devalue,to sell you more,all with debt attached.
Dont fret though,gold will drop again,its a tiny market,when they are ready to sell a few tons (at very large profit) they will slam the price down again,those hammers are just waiting to swing. Get the price down,they will buy and repeat. Not hard to do when you can control billions,if not trillions as the central bankers do.
Story is supposedly a few central banks are buying whatever is made available and messing up the Amero-Euro Bankers plans.Who knows?
Post by mightyspuds on Mar 24, 2010 21:56:23 GMT -8
Yup,gotta stop people from trading in metals,somebody might realize one is toilet paper,made from thin air,backed by nothing.While the other,gold and silver, is LEGAL TENDER as REQUIRED by the Constitution of these United States.
People might also grasp that it isnt metal prices rising,its dollars' value collapsing,thats the truth of the matter.
And it ISNT a WallStreet 'Investment Fever',its a Mom and Pop safe haven popular movement moving this market!Talk about BS reporting by TPTB!!!!!
I liked the comment from that Spuds guy,LOL!Can you believe only 2 comments??
--------------------------------- WASHINGTON – Federal regulators are weighing whether to restrict the volume of speculative trading in metals futures, as gold prices have surged in an investor fever.
The Commodity Futures Trading Commission is taking up the question, a new twist for an agency with a hands-off approach in recent years toward the financial markets.
The CFTC is holding a public meeting Thursday to gather views from exchanges, banks and traders on restricting the amount of trading in gold, silver and copper futures by market players who are solely financial investors.
The discussion also will focus on how transparent prices are in the metals futures markets and how they are influenced by developments in the physical markets.
The agency in January took a first step aimed at reining in oil speculation, proposing new limits on trading in energy futures by Wall Street firms and other market players. One of the five CFTC commissioners, at least, wants caps on speculative trading also extended to the markets for agricultural products and metals — in a comprehensive effort to prevent market manipulation.
"I strongly support thoughtful position limits in the metals complex," Commissioner Bart Chilton, a former Clinton administration official, said recently.
Yet there appears to be scant support for the move among Chilton's colleagues, who have not voiced positions publicly.
Gold may glitter but it lacks the political heat generated by talk of limits on oil speculation as consumers get squeezed at the gas pump and airlines see their fuel bills rocket in an already tough business climate.
In September 2008, at the height of the financial crisis, the House ignored a veto threat from President George W. Bush and approved measures aimed at curbing speculation in oil markets.
The price of gold leaped 24 percent last year, trading above $1,000 an ounce and making experts wonder if it might become the next bubble, in the wake of the mortgage and credit crises.
Some forecasters see it going to $1,200, $1,500 or beyond, unless the buying frenzy halts. (Buying Frenzy??? Huge BUBBLE! Who gets hurt by a Gold bubble,like that will take us down like the HOUSING Bubble,or Credit Bubble,or derivatives Bubble,REAL threats to us all!A metal bubble would potentially ONLY hurt the actual investor,NOT take down the Country like the REAL Bubbles orchestrated by the Fed and Wall Street Banks have done! You gotta be kidding,TPTB have been strangling Gold/silver for a decade,now that they cant any more they want to LEGISLATE control over it!!!!!)
Gold first reached $1,000 in March 2008, soon after the collapse of investment bank Bear Stearns and mounting anxiety over the stability of the financial system. Then, in the Gold Rush of '09, investors snapped up gold to protect themselves against the falling dollar. Currencies have been weak investments around the world because of record-low interest rates stemming from the financial crisis.
Gold for April delivery finished at $1,088.80 an ounce in U.S. trading Wednesday. That was actually its lowest price in more than a month, a $14.90 decline from the day before. Gold prices came under pressure after the dollar surged because of the latest debt problems in Europe. Silver and copper followed gold lower.
Post by mightyspuds on Aug 19, 2011 8:02:01 GMT -8
Gold as high as 1880 today,2000 just around the corner.Up from 1088 18 months ago.And back then same talk.....over priced and bubble,the MSM mantra.
Then I went and looked at the choices my employer offered for my 401K back in 2000,3 funds that are up over last 16 years,15%,29% and 30%.The fourth fund we had was closed,so who knows what a disaster that one was.
Yup,you know how I played that gem.I rolled that 401K into an IRA and made my own choices,lets say I did just a weeeee bit better.
"Make it your ambition to lead a quiet life, to mind your own business, and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody."