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Aesops Ant (not Aunt)
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Dow plunges 400 points after they said it would skyrocket! The Empire is crumbling, IMO it is happening faster than we thought
FoxNews.com - Breaking News | Latest News | Current News

Russian Prime Minister Vladimir Putin has accused the U.S. of being a "parasite" of the global economy to condemn the continuing instability with its disproportionate debt.
Putin accuses U.S. of being a parasite on the world economy | Economics Newspaper
Almost posted on the same topic. Its probably not over just yet though the funeral march may have already started (even years ago)... but everyone should look at this and ask themselves "what if this were it, is there anything else I need to prepare (of course there is)". Everyone should also ask themselves how this will affect PMs. They will only go up in the long run.
 

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BillM
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Gold and Silver

Gold and Silver droped as investors fled to , "U S Treasurys" ?

I just bought 4000 ozs at the low today !

Never follow sheep !
 

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Still waiting for the zombies.
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I was about to post on this too. Surprisingly I noticed a big drop in the silver price and started looking to see why. Took just a few seconds to find this story AND the story that they already spent 60% of the $400 billion in new debt that was authorized.

U.S. eats up most of debt limit in one day - Washington Times

U.S. debt shot up $239 billion on Tuesday - the largest one-day bump in history - as the government flexed the new borrowing room it earned in this week's debt-limit increase deal.

The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.

That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day's new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.....
 

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The Future?
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2,400 Posts
Almost posted on the same topic. Its probably not over just yet though the funeral march may have already started (even years ago)... but everyone should look at this and ask themselves "what if this were it, is there anything else I need to prepare (of course there is)". Everyone should also ask themselves how this will affect PMs. They will only go up in the long run.
Big Gun show in Raleigh NC this weekend at the fair grounds, hope to pick up more ammo and perhaps a 22LR rifle for me or pistol for the wife. Seems like preparedness will be picking up!
 

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It actually finished down 513 points, the lowest since the crash in 2008.
 

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Aesops Ant (not Aunt)
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There have been 9 straight DOWN days. The last time this happened was in like 1974. The record for consecutive DOWN days is 14 which occurred in 1940 something in anticipation of WWII (according to radio show I was listening to last night).

Folks, this market will go down. If you're not out already you need to get out. When a market is controlled as tightly as the stock market by government politics you can rest assured that only the big wigs and the politicians themselves are being looked out for and everyone else will likely get hosed. Just my 2¢. If you have lots money put it in gold or silver (I prefer silver because its smaller denominations for trading) -- gold is expected to top 2000.00 by the end of the year. If you only have a little money (like me) put it in food or other preps.

Funny, but with the inflation that is coming it might be a truism to say "a penny spent is a penny earned" because in a couple years it will take two pennies to buy what used to cost one penny.
 

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Retired Air Force
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906 Posts
Excellent advice Ant. I pulled all my money out 2 weeks ago in anticipation of this. Now it's in a very conservative fund that has no risk.

Oh yeah, EVERYONE sing that Berl Ives classic "Silver and Gold, Silver and Gold"

I know someone is going to hate me for having that song stuck in their head!!
 

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Meoww
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643 Posts
Excellent advice Ant. I pulled all my money out 2 weeks ago in anticipation of this. Now it's in a very conservative fund that has no risk.

Oh yeah, EVERYONE sing that Berl Ives classic "Silver and Gold, Silver and Gold"

I know someone is going to hate me for having that song stuck in their head!!
I hate you ComputerGuy. :kiss:
 

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BillM
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2,001 Posts
Silver

Silver dropped to $38.00 per oz today so I bought another 1000 oz's

That will be a total of five thousand oz's in 2 days time.

Buy low sell high ! :beercheer:
 

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The Future?
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Silver dropped to $38.00 per oz today so I bought another 1000 oz's

That will be a total of five thousand oz's in 2 days time.

Buy low sell high ! :beercheer:
and your address is?:D
 

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Looking at the trends on silver, it isn't even down to the $33 per ounce when I bought some silver back in the beginning of July. Not only that, from the looks of it, the decline has bottomed out, and steadied. I don't know if this is simply because it is now just weekend trading, or what, but I think we should wait it out a bit, and see what happens. I know back in the spring, silver went from high to low in about one week: from about $48.50 an ounce on 27 April, to just about $35.30 an ounce by 5 May.

I think we shouldn't get too jumpy about this, and just keep watching it, and leave speculation to the speculators. Hell, back in February, it was about $25 an ounce for silver, and one year ago, it was $18.40.

P.S.: In my opinion, this would have better chance for debate if this was moved to the Money & Investing section.
 

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Good ole country folk
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421 Posts
I'm assumeing you would want to go where the silver is.

Delaware Depository Service Company
3601 North Market Street
Wilmington, DE 19802

Better bring your best game ! :cool:
So, what happens when you show up to 3601 North Market Street and there are locks on the door?
 

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Just getting started. Always.
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So, what happens when you show up to 3601 North Market Street and there are locks on the door?
I will assume that someone who has thousands of oz stored somewhere, he has scrutinized this company into the ground and has visited it personally.
All hail Lord Bill! Need any serfs? :)
 

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an gold or silver that I own will be with its owner ME. not in someone elses bank! I own what I have and I have what I own. why would I own something and not have it to use and enjoy. gold could be stored in the home in ways that most people would never notice. i have a cup and saucer covered in gold that an aunt made for me. if it comes to it the cup will be broken and the gold melted off.
 

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Scavenger deluxe
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Dow plunges 400 points after they said it would skyrocket! The Empire is crumbling, IMO it is happening faster than we thought
FoxNews.com - Breaking News | Latest News | Current News

Russian Prime Minister Vladimir Putin has accused the U.S. of being a "parasite" of the global economy to condemn the continuing instability with its disproportionate debt.
Putin accuses U.S. of being a parasite on the world economy | Economics Newspaper
Don't trip until you see the EU crash.but IT IS coming.
our AAA rating just went poof.
 

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Just getting started. Always.
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I assume at least the tbill market will get creamed on Monday if for no other reason, I believe that there are huge amounts of mutual/pension funds that require investments in AAA rated bonds. That alone should trigger a ton of selling, depending on the specific rules involved, like since this was only S&P and not Fitchs/Moodys, does it still count? I dont know, but youd have to assume that this would apply to at least some funds.
Should be interesting.
I'm sure there will be enough people freaking out to cause a massive sell off.
Good times, good times.
 

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BillM
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2,001 Posts
PM's

I will assume that someone who has thousands of oz stored somewhere, he has scrutinized this company into the ground and has visited it personally.
All hail Lord Bill! Need any serfs? :)
There are two things I do. PM tradeing and the storing of Pm's for a hedge against economic clamity.

They have differing stratigies.

I buy and sell PM's on the spotmarket to generate income. It is nessicary to store these PM's in an account at Deliware Depositoy .

This type of account is held and can only be accessed by me and my Brokerage company. This allows instant tradeing via telephone to exicute but and sell orders. I use the income produced by my tradeing just as you use your's. I can elect to leave money in my account , to have a check issued and sent to me or to have phyical PM sent to me.

Tradeing in PM's on the spot market is conducted the same way any other commodity tradeing is done except I am buying and selling actual PM rather than paper futures.

I have sufficent PM's immediatly available to me to sustain my famiely in the event of disaster. Those PM's are not sold even though it would be profitable in dollars.

You have to remember that the dollar is the thing that may fail . The PM's will never fail. Their value remains the same, but until the dollar fails we must still buy sell and pay bills with it. ;)
 

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Just getting started. Always.
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1,810 Posts
There are two things I do. PM tradeing and the storing of Pm's for a hedge against economic clamity.

They have differing stratigies.

I buy and sell PM's on the spotmarket to generate income. It is nessicary to store these PM's in an account at Deliware Depositoy .

This type of account is held and can only be accessed by me and my Brokerage company. This allows instant tradeing via telephone to exicute but and sell orders. I use the income produced by my tradeing just as you use your's. I can elect to leave money in my account , to have a check issued and sent to me or to have phyical PM sent to me.

Tradeing in PM's on the spot market is conducted the same way any other commodity tradeing is done except I am buying and selling actual PM rather than paper futures.

I have sufficent PM's immediatly available to me to sustain my famiely in the event of disaster. Those PM's are not sold even though it would be profitable in dollars.

You have to remember that the dollar is the thing that may fail . The PM's will never fail. Their value remains the same, but until the dollar fails we must still buy sell and pay bills with it. ;)
Thank you for the clarification, milord! (Sorry, I just think thats funny).
I didnt realize you were a commodity trader. Congrats. I wish I had the money to engage in such a thing.
 
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