Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Litecoins are one of the best investments now I think. Call me crazy, but that's just my opinion. I could be wrong, and it is a risky bet.
I also don't think you should park your wealth all in one place. Do a bit of everything. My biggest regret is having so much Silver and Gold, personally now I'd like to have more cash, but I wouldn't dare sell at these prices.
Seriously though, I know a lot of you guys think this Cryptocurrency stuff is nonsense, but the best time to buy usually is right after a crash. Prices have stabilized (so far) at about $100 a BTC. The ratio between Litecoins to Bitcoins has been going up approximately 3-8% a day, and I seem to be the only one noticing this trend. Even if prices with Litecoins stabilize, you get more Bitcoins everyday for your Litecoins.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
mamboni
The vexing question for the individual is: where is it safe to park one's wealth? Cash? Stocks and Bonds? Gold? Real Estate?
The vast majority of people have not discovered gold as an option for capital allocation. This recent correction/collapse will either be seen as a major negative or a major opportunity. Faber thinks the latter. Time will tell.
Rick Rule says he uses Gold as Cash.
sometimes his cash gets $1600 an ounce, sometimes, $1400 an ounce ... sometimes, $1700 an ounce.
a 1/10 ounce Gold Eagle makes a far better $100 bill than a $100 bill. it's prettier, it has intrinsic value, it takes up less room - and today it's still worth $140+.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
gunDriller
Rick Rule says he uses Gold as Cash.
sometimes his cash gets $1600 an ounce, sometimes, $1400 an ounce ... sometimes, $1700 an ounce.
a 1/10 ounce Gold Eagle makes a far better $100 bill than a $100 bill. it's prettier, it has intrinsic value, it takes up less room - and today it's still worth $140+.
Rick Rule is filthy rich. While I aspire to think of my wealth in gold grams and silver ounces, unfortunately the tax man only accepts FRNs. Gold and silver are weak versus the FRN, short term.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
mamboni
Rick Rule is filthy rich. While I aspire to think of my wealth in gold grams and silver ounces, unfortunately the tax man only accepts FRNs. Gold and silver are weak versus the FRN, short term.
Dunno if this is relevant, but saw it earlier today:
http://www.youtube.com/watch?v=SuwWWQwGWNY
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Quote:
Originally Posted by
Shami-Amourae
Good interview - Rick Rule is very wise and has an iron investment back.
Take away pearls: what's your alternative to holding physical gold? Treasuries? Yen? Yuan?
You hold gold for the long term based on the fundamentals which will prevail in the end.
Silver is like gold except supplies are very tight (draw your own conclusions).
Whether the system ends in deflationary collapse or hyperinflationary collapse you want to be holding physical gold (and silver).
Bottom line: sit tight or accumulate more, be patient, remain resolved and have faith in the fundmentals.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
If i have a 100 grand i would break it into thirds
35k in physical cash in multiple denominations. nothing above 50 dollars because most wont beable to make change.
33 in Phyisical silver preferabally in mercury dimes because the premium is absolutely a pittance.
33 in tangible assests. this is the most difficult to cover because where does one start. Look around your house and start to purchase the most useful things and items that keep you comfortable and sanitary
But if i was sitting on a massive insurance check for example I would definately want Physical cash and physical hard currency both in my hand because we now have indisputable proof just how fast you can wake up stark naked.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
100K? First, consider that the controllers are planning to usher in a new currency system. Cash will become worthless soon. Right now, however, cash will be king for a day. It will be useful when nobody else has any to spend. You will need to be able to swoop in on bargains and haul them away lightning fast. At some point, the cash will be shut off.
I could spend $30k on a long term solar power system alone. I could spend another $10k on food. And another $10 on weapons & ammo.
What is left in cash would be ready to scarf up super deals with the intent of having no more cash than is needed for emergencies and bills to cover the next 3 years. Part of that would be things you could barter with. Extra food, coffee, hardware, energy services, etc.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
I fully agree with your assement.
I just find myself day dreaming about a large sum of "money" like that and how quickly i could make it dissapear on useful goods
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
When gold and silver stop bidding for dollars, the paper price crashes and then the paper markets crash and then the price and value become one. We are almost there.
Re: Has the collapse begun? Is paper gold selling in a panic to buy physical?
Buy Low, sell high. With all the countries and banks buying tons of gold, I would not be surprised if the price is being squashed so more gold can be bought for less dollars/euros. Hold what you got and buy more if you can.
Time is working against the American Dollar as is with all currencies. It is only a matter of time before another adjustment comes but in higher gold and silver prices.
I remember what the Ex-Fed Chairman Greenspan said. Something like, "I can print all the dollars you want but I can't guarantee they will buy anything. I take this also to mean. I can print all the dollars you want but I can not guarantee you will be able to buy gold or silver with it.
Everyone is rushing into the dollar from euros and such. I have a friend in Argentina that immediately converts his Argentinian money into dollars...or gold.
They want people to panic sell. Then big money comes in and buys everything up...and then boom...Price moves higher.
I am somewhat flabbergasted that the law of supply and demand is not affecting metal prices as they should in a supply and demand market.
The metals market is deliberately being squashed. It won't last for long.
