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 Replies: 61 / Views: 7,753 |
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Valued Member
United States
110 Posts |
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People have been predicting the end of the world (or civilization, or our way of life, etc.) for my entire life. 100% of those people have been wrong. While I agree that there are many 'the world is ending type that are most often wrong, it also depends on your perspective. For many once powerful countries they have gone through some very rough patches that did change their way of life. It just hasn't happened in the US...yet. Cicero warned the Roman Empire that their spending and endless war and empire building would come crashing down. He also fought against the civil liberty offenses by the government. He was considered wrong throughout much of his life. People really hated him at the time and he was actually executed for his beliefs. He was, of course, correct overall. It just took a bit of time to prove that he was correct. We have to remember how small this little blip of time we are occupying is. |
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Pillar of the Community
United States
5862 Posts |
I fully acknowledge the possibility that the U.S economy could completely collapse sometime in the (perhaps near) future. I fervently hope it doesn't happen, but with the income gap growing at the rate it currently is, I suspect it is only a matter of time.
However, if the U.S. economy did completely collapse, I strongly doubt that having a limited stockpile of gold and silver would help all that much.
I'm not a rabid stacker (especially lately), but I have always collected silver and gold as a hedge against inflation and to have some easily to liquidate assets if I ever run into financial difficulties down the road. Of course, it would also be nice if the prices did soar, in which case I'd be happy to cash it all in...
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Pillar of the Community
613 Posts |
CNN is a joke and CNN's Money segment comes off much like a joke. Good work,glad to see CNN wasting more time with worthless stories and comments. Larry King took off for many reasons which was good for Larry King but in the end CNN loses in both ratings and great reports,at best they buy reporters from Public T.V. or reports u pick either way they are a joke. CNN has no class anymore as it once did. Now that is a fact for CNN no Larry King no Class. Why fiat CNN good job,you traded more fiat for no class.
I for one am glad to see Nuts with lots of fiat for gold. Personal wealth is good for all including the Nuts. Lets not just have governments owning lots of Gold and Silver bad idea. Most people that have Gold or any PM's are not telling so CNN or anyone else has no real % for a report.
I wish people would buy Silver like burgers and shakes that would be so great even with what stack I have now,the price of Silver would bleed a endless green line up. But the Public will not in droves yet,people in th US need to see loads of problems with fiat to do that. Now that is Nuts,it has happen a few times in the past. 2008-2009-2010-2011 was the last wake up and PM's will get woke up over again you can be sure of that.
Its more Nuts to buy cigs,junk food,worthless items and numbers of other items legal and otherwise but it goes on all the time. Why its fun,its live one time and do as u like. Its nuts to live one time as we all do as time passes on by us and know it,that is Nuts.
Stackers of Gold or Silver do nothing but a harmless thing hold or sell a metal. Not nuts and someone is not nuts to buy even if it is nerves of the world bugging them out,its harmless. How dare CNN have a report like that over PM buyers,thanks for the joke CNN.
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Pillar of the Community
United States
4132 Posts |
Predicting that the world will end *someday* isn't a useful prediction. The Roman Republic lasted 500 years and lived on as the Roman Empire for another 500. A big chunk lived on for another thousand years after that. Eventually the Sun will expand and burn the Earth to a cinder. That doesn't mean you should put your money in zinc oxide futures. As the economy gets back up to speed, investors are going to want to put their money to work instead of having it tied up in inanimate lumps of metal.
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Pillar of the Community
United States
5833 Posts |
Without stackers and collectors those that kept buying and selling PM, the US economy will be in the pink forever!  |
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Pillar of the Community
 United States
1662 Posts |
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How dare CNN have a report like that over PM buyers,thanks for the joke CNN. You understand that CNN didn't make up the quote from Kitco's Peter Hug, don't you? He's the one calling 25% of his customers "crazy" - not CNN. Edited by ArrowsAndRays
02/19/2015 10:52 am
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Bedrock of the Community
United States
10982 Posts |
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Would reveal that both our debt and our deficit have been much worse in the past relative to the size of the economy. Inflation and other economic indicators have been worse. Social unrest has been worse. Crime has been worse. War has been worse.
People have been predicting the end of the world (or civilization, or our way of life, etc.) for my entire life. 100% of those people have been wrong. Current ZIRP allows us to finance our debt for measly $300 billion year. Interest rates will have to rise in the future and we'll be paying $1 trillion/year interest within a decade. We have $100 trillion in unfunded liabilities over the next 30 years through Medicare, Medicaid, and Social Security alone. A default will be required as will the USD losing reserve currency status. Doesn't mean the USD or USA disappears nor that "the end of the world is near". It means our deficit will explode to unmanageable levels over the next 25 years and we'll default and lose the world's reserve currency. By that time 1% of world's population will own virtually every asset in the world. The numbers are out there but not widely publicized for obvious reasons. Most don't care and many will be gone in 30 years. Others chose to ignore what's happening. Whatever you choose is up to you. |
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Pillar of the Community
613 Posts |
@BH1964,thank you for your insight to the real great news for PM's in the future.
@ArrowsAndRays,I have read the thread over in Kitco's Gold Posting for threads. Mr.Hug is getting slammed over in the thread along with Kitco,so yes I do and have. Again my point CNN decision to report trash to the public,is the other and more important problem to me thank you very much.
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Pillar of the Community
Canada
2805 Posts |
But shouldn't you be enjoying that freedom of speech?
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Pillar of the Community
United States
4132 Posts |
Again, as a percentage of GDP, our debt has been higher in the past during times of significantly higher interest rates. We got along fine without defaulting.
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Valued Member
United States
110 Posts |
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Again, as a percentage of GDP, our debt has been higher in the past during times of significantly higher interest rates. You mean higher than 0%? The fed cannot raise interest rates in this economy. They have been this low for the entire decade! |
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Pillar of the Community
613 Posts |
@CaptainFwiffo,remember a few years ago 2 0r less,when the man in the suit had to sit in front of the other suits and tell them in the near future that the US will be faced with Defaulting.
Go look into that if u like or not. It happened and they made a few band-aids out of toilet paper and worn rub bands for the time being. Again he said in the near future not tomorrow but either way he had bad new for D.C. It happen and there is no taking it back. I do not care how many T-Bills are sold,I do not care I do not care will not fix the whole problem the US is faced with.
Go talk with inner city kids and tell them the future is ok for them with no PM's in their pocket so to speak.
Go ask folks in Mid Class how they feel about future. Then go ask some college teachers what they think of most of the new students,are they ready for college.
Here is what is going on,the Rich are fine. They boo woo and who boo about money they see gone to the poor and the lazy but so what that's nothing new. The people who need PM's are not the rich or well off right now. Its the Poor and Mid Class that need PM's.
At this point I am done with this thread,not interest in the thread. This is the same old run around over Stackers and what metals we want in are stack.
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Pillar of the Community
Canada
2805 Posts |
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Go talk with inner city kids and tell them the future is ok for them with no PM's in their pocket so to speak. Yes, if only every inner city kid had a pile of shiny gold/silver, their problems would be solved. Social work? Better access to education? More police presence? Less police presence? Nah! The belief that gold and silver will comprehensively fix everything is why so many "stackers" end up looking like crazy people. |
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Pillar of the Community
United States
4132 Posts |
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Its the Poor and Mid Class that need PM's. Speculating on commodities is a bad choice for someone of limited means. |
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Pillar of the Community
United States
3789 Posts |
I think this thread is bringing them out right now lol
To think that the US has to ever worry about selling their debt is absolutely hilarious. Years ago the crazies were bemoaning a weak USD, now the USD is the greatest and strongest currency in the world right now.
Of course the same people who insist gold and silver are their sole savoir wont tell u that because it makes them look bad and proves them wrong.
The entire world is ADDICTED to buying US debt.
Like I said before, there is a reason the USD is called King Dollar lol
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Replies: 61 / Views: 7,753 |
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Posted 02/18/2015 11:38 am
