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 Replies: 23 / Views: 3,194 |
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New Member
United States
33 Posts |
What would you recommend as a good form to get started in gold? The 1 oz Eagles?
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Valued Member
United States
314 Posts |
1oz eagles IMO is a great place to start. Lowest premium on the 1oz as well, stay away from the fractionals.
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Pillar of the Community
United States
4008 Posts |
Quote:
"I look at gold as just another currency that they can't print any more of." - Mr. Kyle Bass
Now isn't that the reason why people invest in PMs? Their values depend on their scarcity and neither government incompetence nor conniving can create a single gram of additional PMs. Unlike the trillions of fiat dollars that skitter through the world's financial systems every day, gold and silver have to be EARNED by the hard and dangerous work of digging in the bowels of the Earth and then processing the ore. Can't just wave a pen over some paper and... TA-DA! Instant money creation! Unfortunately for the fans of government, REAL money cannot be created by official policies, waving pens, solemn pronouncements, or smoke & mirrors. Lots of people are now waking up to this fact and demanding silver and gold as stores of real value. I fully expect to see an announcement any time now for the return of the $1000 bill. $100s just aren't cutting it anymore, what with all of the inflation we don't officially have!  |
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Pillar of the Community
Australia
2830 Posts |
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Pillar of the Community
United States
3670 Posts |
So my memory did serve me right as it does 76% of the time, lol....
Wonder how much they would lose if they sold all that gold today, at 1575 spot price?
Imagine they will not be moving that stack of bars anytime soon....
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Pillar of the Community
United States
1126 Posts |
SilverHawk, You are absolutely right, those bars are not going anywhere for quite some time. My guess would be along the lines that the University of Texas investment people began to see the writing on the wall, and the direction things were going with financials around the planet. Gold is being slowly and methodically positioned as money again inside the financial systems of the world. These people seem to be moving slowly and quietly as to not awaken the vast majority of the public. Which would cause a rush into the Gold and Silver Market. They want to accumulate as much as they can at these artificially low prices. We as collectors are in a very unique position to know about these things because the coins that we collect are made of these metals. I ran across the next step to the monetization of Gold yesterday, It involves a memo circulating between the Federal Reserve, OCC (Office of the Comptroller of the Currency) and FDIC (Federal Deposit Insurance Corporation) testing the waters and seeking opinions for the re-classification of Gold to be weighted as a "Zero Risk Asset" I had to stop and think about the ramifications for that "IF TRUE" I have not seen the actual memo yet. You can bet I am looking for it. If True I believe it means that huge hedge funds and other investment vehicles (Pensions) will be allowed to buy Gold for their portfolios. Which at this time they cannot due to their own rules concerning Risk Weighted Investments. Some big money being able to jump into a small market Hmmm Wonder where the prices might go ? Just wanted to share this with the board. I do not have all of the information Roughly 76 %  but enough to put the hair up on the back of my neck and make me pay attention. Edited by stewart
06/27/2012 07:28 am
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Pillar of the Community
Mexico
1304 Posts |
No kidding...they'd finally admit that PMs are an investment with no counter-party risk?
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Pillar of the Community
United States
3294 Posts |
Gold is not a zero risk asset, there is no such thing as a zero risk asset since someone could rob you, or a natural disaster could bury your gold under a mudslide or something along those lines. The good news is that with gold, you can control a larger portion of the risk because you can choose where to store it, whether to insure it etc, whereas with paper money, you have no say over how much the government devalues it by printing more $$$.
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Pillar of the Community
United States
5858 Posts |
Quote:
Wonder how much they would lose if they sold all that gold today, at 1575 spot price? If my memory serves me right, I think gold was around $1400 back in April of 2011, so I don't think they would lose anything. Of course, now they're probably kicking themselves for not selling when it it got close to $2000. Unless, of course, they actually did sell when it got close to $2000... |
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Pillar of the Community
United States
1126 Posts |
Quote:
Gold is not a zero risk asset, there is no such thing as a zero risk asset Nod, You know that, I know that, Heck I would bet everyone on this forum knows that. The "Zero Risk Asset" Classification is only applicable in the make believe world of the Federal Reserve and The Treasury and other such "Honorable Institutions" But since they are the ones dreaming up these schemes where the current circulating currency is concerned. I believe it is prudent to keep as close an eye on their moves on the game board. It gives one an indication on what direction they are going |
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Pillar of the Community
United States
3670 Posts |
Good call Barry as for some reason I was thinking gold was more like 1700 to 1800 when they bought in. Buying in the 1400's was a good plan for them in the long term no doubt, minus that mudslide or some other crazy occurrences as nothing as we all mentioned has zero risk.....
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Pillar of the Community
United States
4008 Posts |
The part about considering gold "as safe as sovereign debt" really floored me. Sovereign debt? Holy cow! How safe and secure was that for the Wiemar Republic, Zimbabwe, the USSR, Argentina, Mexico, Yugoslavia, or all the other countries that either defaulted on their debts or did the next best thing by devaluing their currency? Probably not very. Anyone here wanna buy some Greek, Italian, Spanish, Irish, or Portuguese sovereign debt with their PMs? Gold is WAY more safe and secure an investment than any sovereign debt Ponzi scheme backed by nothing but the promises of politicians, IMHO.
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Pillar of the Community
United States
808 Posts |
 Regardless of what happens, gold will always be worth something. You can't really say that about anyone's sovereign debt. |
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Pillar of the Community
United States
1126 Posts |
Absolutely With Ed_B and CoinWatch Edited by stewart
06/27/2012 8:59 pm
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Pillar of the Community
United States
4008 Posts |
As to the University of Texas and what they know... they probably know quite a bit. For one thing, I'm sure that they did a portfolio analysis and found just how over-weight they were in paper assets. They probably also noticed that most of the world's central banks have been buying gold in multi-ton quantities lately. Central banks tend to be populated with some very smart people who can read the handwriting on the wall. The question that they are likely to have examined is not IF the fiat currencies will collapse but WHEN. Because of the out of control debt and spending problems of so many governments today, it is likely that they will be forced (kicking and squealing, no doubt) to adopt a PM-backed monetary system at some point. This is the only monetary system that has built-in checks and balances against spending themselves and their un-backed currencies into oblivion. If there ever is a global debt forgiveness program, it is likely that a PM-backed currency will be one of the conditions for it.
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Replies: 23 / Views: 3,194 |
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First Page
Posted 04/20/2011 06:54 am
