Gold and Silver Prices

Discussion in 'General Preparedness Discussion' started by idahofreedom, Oct 5, 2010.

  1. idahofreedom

    idahofreedom Active Member

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    Wow - look what Gold and Silver prices are doing today! Good for everyone that has some, but I see it more as an indication of what the future holds. When investors/wealthy people get scared, they buy gold as a hedge against inflation - all that buying causes the price to jump (supply and demand). Get ready for some inflation!

    How do we prepare against inflation? Buy stuff now. It's time to fill in those prep gaps before prices go through the roof. It's like buying it onsale at today's prices.

    Be prudent - buy stuff that will get used. Buy stuff that can be stored. Buy stuff that is useful or can be traded/bartered.

    A major portion of prepping is paying attention to the world around you and making adjustment accordingly.


    Watch, think and prepare.
     
  2. SurviveNthrive

    SurviveNthrive a dude

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    right now $1340 and $22.70.

    There should actually be a staples based indicator where we can see what food is doing.
     

  3. Victor23

    Victor23 Well-Known Member

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    The price of gold and silver reflect the loss of value of our dollar. Oil is back over $85 for no apparent reason. Food will continue to cost more -way more. Commodities have risen double digits in the past few month. All of this is starting the climb of prices. And as the old saying goes-"you aint seen nothing yet".
     
  4. Victor23

    Victor23 Well-Known Member

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    Just to add one more note on the subject, look at Kitco.com on the commentary section for Howard Ruffs comment on inflation. I just read it and found it very relevant and informative. Kitco is a great site to get info on PM's and economic issue relating to such.
     
  5. Jarhead0311

    Jarhead0311 Well-Known Member

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    It's not just gold and silver all commodities all shooting up. Coper, grains,crude oil, heating oil are all going up. If you haven't gotten all of your preps you had better hurry prices are going up.
     
  6. mickbear

    mickbear Active Member

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    very accurate statement.i have used that as a barometer for investing for over 30 years.
     
    Last edited by a moderator: Oct 11, 2010
  7. Hotpie

    Hotpie Member

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    If you buy it (this is just an example) for say $20 an oz an it goes up to 25 an oz, being I`m not a dealer how much could I sell it for an to who?
     
  8. Jarhead0311

    Jarhead0311 Well-Known Member

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    Right now you can get closer to spot on ebay than any of the traders offer.
     
  9. Hotpie

    Hotpie Member

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    Thanks, I didn`t know who, I have some silver rounds (thats what they are called) an didn`t know who I would sell them to, I bought at $18 an oz. I tried to buy something at the store with one not to long age an they wouldn`t take its, hard to believe these people don`t know whats it worth, they want the paper money thats not backed by anything :D.
     
  10. PopPop

    PopPop Well-Known Member

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    Something to consider as these PM prices continue to rise is how high can they go before this balloon burst. And bust it will, just like all other hyper inflated markets. If you are a prepper and are buying PMs, be very carefull. After the impending monetary collapse what will these PMs be worth. In the short run it wont be much. Which investment is better for the average guy? For me it is better to eliminate all debt and stock such things that will sustain life. If you and your family are starving, how much gold would you trade for a weeks food?
     
  11. UncleJoe

    UncleJoe Well-Known Member

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    My sentiments exactly!! :2thumb: :beercheer:
     
  12. SurviveNthrive

    SurviveNthrive a dude

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    Why does anyone consider it an either/or situation?

    Food, ammunition, fuel, precious metals, consumer goods, etc.

    Silly, silly people.
     
  13. PopPop

    PopPop Well-Known Member

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    As for being silly, lets look at and hopefully learn from recent and similar markets. The housing market was artificially pressured up way beyond any intrinsic value. People just bought and bought. These people are now looking at investments with radically reduced value and a market that is not eager even under these conditions. Well in the long view they might make it out. We just have hope and pray forthe long view. Gold is similar in that for reasonable prices it does provide a hedge against inflation For this situation, buying is at the top or neer the top. Now when it bust at this level there will people who are ruined.Buying goods and services with gold in a post SHTF world is going to be the most expensive purchases you will ever make. If you are trying to protect wealth, gold might work.If you are trying to protect life and lifestyle pay cash now and watch these investments grow. .
     
  14. Jarhead0311

    Jarhead0311 Well-Known Member

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    Right now silver rounds are bringing close to $25 on EBay, as for PMs being a bubble, adjusted for inflation, PMs are no where near their historic high.
     
  15. Jarhead0311

    Jarhead0311 Well-Known Member

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    au contraire History shows that as fiat money collapses, gold and silver sky- rocket as the rich look for a way to preserve their wealth. Gold and silver prices aren't going up, the dollar is going down as demonstrated by the rise in all commodity prices. I agree that life necessities need to be met before you invest in PMs and I think that three to six months of LTS foods are foolish , a year worth of food should be minimum. It's an inflation proof life insurance policy at the least.
     
  16. PopPop

    PopPop Well-Known Member

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    Agreed PMs are a proven investment and if you are protecting wealth PMs are a good bet. Having said that, I think the impending collapse will be unlike any event in history. There has never been such worlwide interdependance. There has never been such a large population whose only means of sustanance is their ability to buy what they absolutly must have to stay alive. I live in the rural south, and if we were to have to depend on what we produce locally for all of our food, there would be mass starvation. If I had pounds of gold and silver and just wanted to pay as we go after a Great Depression level event, I would also starve. The means to produce food is just not there and if it aint there it aint for sale at any price! In other words the ratio of people and infrastucture producing and the people who consume is so far out of balance and dependent on a fiat currency, that a colapse will produce a result that is horifying to contemplate. I just think that knowing that you have done all you could possibly do to ride out this calamity is of more value and urgency than protecting wealth. If possible I would do both, but for most people that is not possible.
     
  17. nj_m715

    nj_m715 www.veggear.blogspot.com

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    Jarhead, The dollar's not going down! The government just said so, that means it must be true. There's no cost of living increase for SS again this year. They say there's no inflation. What a joke. Just tell the truth, there's no raise because there's no money.
     
  18. Jarhead0311

    Jarhead0311 Well-Known Member

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    I feel so much better now:congrat::congrat::congrat: