Should We Be Worried

So are the morons that got us into this mess in the first place.

Shocking to many, but probably true.

It is very possible this guy just lost his shirt in the stock market, and, so burned, is now going to roll the dice in the precious metals/commodity market. Perhaps he will lose his shorts there.

I wouldn't expect a commodities trader to treat me for the flu, so I wouldn't look to a doctor for guidance on how to become a commodities trader.

Sometimes skill in one area such as medicine leads to overconfidence in other areas, such as investing. No one has a crystal ball, including the jockeys on the radio shows.

Ken

This brought some items that I have overheard:

1. I was in the coin shop last week and overheard a couple talking about the fact they wanted to have at least 20% of their cash assets turned into gold and silver coins. They had been doing some research and found a book that talked about getting your life under control by being prepared for any situation that comes along and this was one of the main features. So I started thinking about it and what do you do if the power was out for extended period of time (weeks, months...), major tragedy in the family, etc. and part of it makes sense to a point.

2. The other...I wish I could remember where I heard it from but a panel of people from different financial backgrounds were talking about the dollar and the changes it could take in the future. They all agreed that it will decline and not be a dominating source in the near future and then went on to give different reasons. I blanked out for awhile but one item hit hard and that was the idea if countries started trading or selling off their American debts to other countries and that if the right country bought it, it could send us back to the stone age depending on how that country dealt with it. Of course this was when China started to become more of a power figure and was aimed at them without directly saying it. So if you believe in something like that then I could see the point but since most of us do not have more than few bucks stashed away, it would not matter either way.

I think if ever the SHTF, food, guns and other basics would be critical, not that much precious metals.

We're still telling our clients (CPA at a risk management and financial services firm) to keep about 8% of their worth in precious metals... up to 12. Any more than that is just as much of a gamble as sitting with your nestegg and playing slots with it.

As a coin guy I want to own as much bullion as possible but I want mine at face value via roll hunting!

Anyway.. the sentiment around the office is 'We survived 29-33 we can survive this'.

Of course, the other agreement around the office is things could (but probably) won't get that bad.

We'll see

Seeking: Face value silver!

When in the history of gold (thousands of years) has it been "nearly worthless"?