I always laughed at the survivalists and Mormons.
Maybe they got it right?
Heck even moving $$$ to gold feels weird in some way. But feels right right about now.
March 12, 2006
Is it just me, or does anyone else feel like they need to stock up on canned goods, water and batteries?
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27 comments:
what does this article mean? More gloom/doom hype? Get a grip man...
I have the same feeling, save like never before. Shit is about to hit the fan when this bubble implodes.
it's not just you. Question is, where to hide?
It's the Long Emergency
"gloom/doom hype"...not at all...a simple analysis of economics, politics
and natural sciences lead to a common sense survival response.
Keith:
You got an acute case of "European-itis." We just have a differnt outlook on things: the glass is Always half empty...
I was shell-shocked when I moved from the Continent to Tejas a decade ago - "How can these Americans be so darn positive... things suck... don't they?"
TexStock
I think silver is the place to put your money right now. Its going to take off very soon.
Silver is an industrial metal. What happens when the credit bubble collapses and the economy takes a major dive? It means deflation and big drops in demand for such assets. When credit bubbles collapse, deflationary forces surge and precious metals rarely thrive on deflation.
what's the most secure way to buy gold?
I buy gold coins. They'll be easier to cash in than ingots when/if there is chaos. Ingots have to be assayed to sell.
I buy Canadian Maple leafs.
You can buy gold pretty easily online. They mail you the coins. I only get deliveries of 5-10 oz at a time. Shop around for prices.
Don't tell people you have fortune in your basement safe though.
when the need to sell comes, how'd one sell them? where'd one go? thnx
which would be cheaper and which would bring more money, considering assaying, shipping (if buying online), etc?
"Paper money" won't be going into any hyper-inflation. The destruction of the housing housing/credit bubble will result in a massive withdrawal of money/credit from the economy. Even lower interest rates to 0% will be unlikely to produce hyper-inflation- look at Japan with 15 years of 0% rates and stayed in recession the whole time.
In 1981, the US economy was at a blow-off peak of the 70s inflation. In 1981, gold was like the housing bubble is now- at a crowd-driven peak. The gold market went into 23 years of bear market after that, dropping as low as $290.
If you invest in physical gold, it may be difficult to sell. In fact, gold dealers and coin shops may very likely making 1099 reports to the IRS at that point. The gold marketeers always make the same arguments over and over- no matter what ecnomic conditions.
That said, it doesn't hurt to have a little bit of physical gold socked away. But be careful of the gold sellers propaganda...a lot of it is oft-repeated baloney.
Yes, and when the black helicopers with the ATF guys and the UN blue helmets comes down to hover over your roof and beam messages to the implants in your teeth, you can open your attic window and throw the gold coins at them.
Gold, silver, metals, etc. Gotta laugh at you guys - when push comes to kill, and your family is starving, it's going to be even harder to chew on coins than it will paper. And neither will satisfy the hunger. And what happens when you have no more gold coins?
You: "I'll give you one gold coin for a loaf of bread."
Gun-toting Grocer: "I want ALL of your gold coins."
You: "Gotta feed the kids. Ok."
Forget the metals guys - learn to make/grow your own food.
>> anon, history simply doesn't support your position. 1oz of gold has always bought more than a few groceries.
Yeah, in a non-MadMax scenario. I don't consider the World Wars we've had as MadMax scenarios. In the MadMax movies, they KILLED for gas - they weren't bartering for it.
Also, assuming a MadMax scenario, I wouldn't be surprised if our wonderful Gu'vment would have passed a law that says anyone caught with precious medals will be executed on the spot.
Isn't there something in the bible that says during Armageddon, ALL currency will be worthless?
Anyway, learn to farm, and buy guns/ammo to protect yourself.
Oops - "metals", not "medals".
http://abcnews.go.com/GMA/print?id=1716820
Ready or Not, Bird Flu Is Coming to America
Officials Advise Stocking Up on Provisions -- and Warn That Infected Birds Cannot Be Prevented From Flying In
By BRIAN ROSS
March 13, 2006 — - In a remarkable speech over the weekend, Secretary of Health and Human Services Michael Leavitt recommended that Americans start storing canned tuna and powdered milk under their beds as the prospect of a deadly bird flu outbreak approaches the United States.
I've bought gold coins at http://www.kitco.com and had no problems.
To sell, you could either mail them back to kitco or find a local coin shop. The coin shops have a higher spread but you don't pay shipping.
NOTE HOWEVER that "they" know that the poop is about to hit the fan, so now gold coins are considered money for those $10,000 reporting hassles.
The best way IMO to play the gold price short-term is with kitco's pool accounts. The spread is $4/oz, that's less than a percent; you can buy and sell it like it's a stock -- no mailing coins back and forth all the time. And if you want to, you can cash out into gold coins for a one-time fee plus delivery.
Re: gold coins. (I made the first post)
Definately grow food and wood on your own property too. Make lots of friends near your home (actually, the friends are the most important thing of all, but most normal people already know this).
BTW, the gold isn't to go down and buy a quart of milk dickhead.
I wonder what would happen at the local coin shop if a big number of people were trying to sell gold coins but the shop wasn't able to make a market....in other words if the gold/commodity markets went illiquid for a while. These small shops are just that..small shops and and they are not high-capitalization market-makers.
Another thing to think about is that a collapsed housing/credit bubble will drop asset prices in major moves. You would think that gold would be great to have in a such a crisis but it doesn't always work that way. Gold responds to government-created inflation where assets are rising in value. During deflations, assets like houses, cars, and commodities drop in value as paper currency becomes more valuable. In other words, gold and precious metals could decrease in value during a deflationary scenario...just like residential RE.
desbear - there are still small coin shops?
How inefficient is that?
It's called the internet. There's a global market now. Not a guy in a shop with 100 customers. Those days are over. If that guy is still in his shop, he's toast (unless he is trading online)
In the mid 80's when gold was about $800 coin shops thrived. My favorite place to buy and sell gold and silver in LA is Alhambra Coin.
626 282 1151
Keith- I get your point but was thinking about a local dealer. I have done some business with Kitco through the net. Tried pool accounts first but I was a little spooked by the "unallocated" designation of my investment which means in case of Kitco bankruptcy that the customer is left with a paper claim. Kitco converted the pool to physical gold w/no problems.
Some of these precious metals dealers can be risky, especially if they have a hand in the commmodities markets for hedging purposes etc. I lost $3500 from Denver Silver & Gold Exchange in the 80s when the owner bankrupted the business by playing commodities.
gloom and doom not. get a job and make some money. if you don't got what you want, go get it. THIS IS THE USA.
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Take a look at Wallstreetwinnersonline.com
RickJ
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