We were having a discussion

[bob2007]

We were having a discussion on physical gold and silver today where I work. It reminded me of the early Piggington days before the housing crash. I would be interested in any comments people here might have on whether or not they see the following scenario as the next “crash” or a chance to cash in.

There are 3 guys who believe the all the fiat currencies will crash, especially the US. When that happens they want to have physical gold and silver on hand, as well as Sprott’s physical gold and silver funds, PHYS and PSLV. These trade at 22+ percent above ETF’s like SLV for silver. The reason they say is that SLV really doesn’t have silver, just paper that says they have silver.

Here is a really brief summary of their views:

– SLV and GLD are only paper

– The US currency will collapse

– The web site they read religiously (all day long at work) is http://tfmetalsreport.blogspot.com.

– 2 have purchased refrigerators and loaded them with meat so they can survive the upcoming crash (not sure they planned for the electricity going out if that happened) as well as excessive inflation (that seems more reasonable).

The counter to the PSLV argument is here:

On Misinterpreting PSLV’s Premium

So, is this a problem/opportunity? Should everyone invest heavily in silver before the big “event”, like selling your house in 2005?

I know this is off topic for housing, but it seems interesting from the point of a group of people with the foresight to see the mortgage crisis.