Help w/buying gold

[jpinpb]

So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.

[partypup]

[quote=esmith][quote=partypup]
JP, do yourself a favor and also investigate silver. It’s a lot cheaper, holds its value very well, and has much more room for movement on the upside :-)[/quote]

Silver was $3 five years ago, it’s $13 today … I see room for movement on the downside.

I’d buy a 100 oz bar as a paperweight if it goes into single digits. Other than that, I’m not touching silver, no way.[/quote]

Silver’s ascent from $3 is a direct result of the dollar’s depreciation over that same period of time. Unless you foresee the dollar returning to 110 on the USD index, then I’m not sure what leads you to believe that silver will come crashing down to $3 again.

[partypup]

[quote=esmith][quote=partypup]
JP, do yourself a favor and also investigate silver. It’s a lot cheaper, holds its value very well, and has much more room for movement on the upside :-)[/quote]

Silver was $3 five years ago, it’s $13 today … I see room for movement on the downside.

I’d buy a 100 oz bar as a paperweight if it goes into single digits. Other than that, I’m not touching silver, no way.[/quote]

Silver’s ascent from $3 is a direct result of the dollar’s depreciation over that same period of time. Unless you foresee the dollar returning to 110 on the USD index, then I’m not sure what leads you to believe that silver will come crashing down to $3 again.

[partypup]

[quote=esmith][quote=partypup]
JP, do yourself a favor and also investigate silver. It’s a lot cheaper, holds its value very well, and has much more room for movement on the upside :-)[/quote]

Silver was $3 five years ago, it’s $13 today … I see room for movement on the downside.

I’d buy a 100 oz bar as a paperweight if it goes into single digits. Other than that, I’m not touching silver, no way.[/quote]

Silver’s ascent from $3 is a direct result of the dollar’s depreciation over that same period of time. Unless you foresee the dollar returning to 110 on the USD index, then I’m not sure what leads you to believe that silver will come crashing down to $3 again.

[partypup]

[quote=esmith][quote=partypup]
JP, do yourself a favor and also investigate silver. It’s a lot cheaper, holds its value very well, and has much more room for movement on the upside :-)[/quote]

Silver was $3 five years ago, it’s $13 today … I see room for movement on the downside.

I’d buy a 100 oz bar as a paperweight if it goes into single digits. Other than that, I’m not touching silver, no way.[/quote]

Silver’s ascent from $3 is a direct result of the dollar’s depreciation over that same period of time. Unless you foresee the dollar returning to 110 on the USD index, then I’m not sure what leads you to believe that silver will come crashing down to $3 again.

[partypup]

[quote=esmith][quote=partypup]
JP, do yourself a favor and also investigate silver. It’s a lot cheaper, holds its value very well, and has much more room for movement on the upside :-)[/quote]

Silver was $3 five years ago, it’s $13 today … I see room for movement on the downside.

I’d buy a 100 oz bar as a paperweight if it goes into single digits. Other than that, I’m not touching silver, no way.[/quote]

Silver’s ascent from $3 is a direct result of the dollar’s depreciation over that same period of time. Unless you foresee the dollar returning to 110 on the USD index, then I’m not sure what leads you to believe that silver will come crashing down to $3 again.

[partypup]

[quote=jpinpb]So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.[/quote]

JP, I think most people still hold some faith, however unfounded, that Obama is going to pull us through this. Yes, there are lots of commercials hawking gold, but I really don’t think most people see the wisdom in taking the plunge. Because at the end of the day, the folks who are rushing to gold are the ones who really believe that the dollar is going to seriously devalue in the near to mid term.

That said, I have read plenty of articles in foreign papers documenting the unprecedented surge in gold buying in Europe and Asia. I think that people in those countries (a) have far less confidence in the dollar’s future and (b) don’t have any Obama hopey-changey rhetoric buoying their spirits. These people are scared s***less. I also think that foreign buying en masse is one of the big reasons gold has almost doubled since 2006.

One thing you need to keep in mind (and I don’t have the links at my disposal – they are buried somewhere in my Inbox) is that the Comex futures price – the spot price by which gold is widely measured – is heavily-manipulated by the PPT. It essentially allows major players to set the price of gold by selling and buying paper without ever delivering physical metals. If this mechanism were not in place, you can be sure that the price of gold would be significantly higher. We know this to be the case because the U.S. mint’s own website sells what little gold it has in its inventory at a SUBSTANTIAL premium above spot. And any dealer you call is going to laugh if you tell him that you expect to make a purchase anywhere near spot. So that’s a major clue that the market is not being allowed to move freely.

Oh, and here’s another clue: I just checked the U.S. Mint’s website, and it is NO LONGER selling American Eagles:

“You can purchase American Eagle Gold Bullion Coins from most major coin and precious metals dealers, as well as brokerage houses and participating banks. Click here for a list of authorized dealers. They are minted in four weights – 1/10, 1/4, 1/2 and 1 ounce – to fit a variety of budgets. The smaller sizes also make affordable and thoughtful gifts.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_gold

Ditto for silver:

“The design is based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, widely considered one of the most beautiful American coins ever minted. Silver Eagles are easy to buy and sell at most coin, precious metal and brokerage companies. Click here for a list of authorized dealers. Prices are based on the market price of silver, plus a small premium to cover minting and distribution costs.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_silver

I’ve never seen this before. Over the past year the U.S. Mint has been cutting back the number of gold products it sells. But now it looks like Fort Knox has gone empty. Wow.

Call me a market purist, but I’d much prefer to acquire assets that are in seriously short supply (gold/silver) than assets that are being released in a torrent (dollars).

[partypup]

[quote=jpinpb]So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.[/quote]

JP, I think most people still hold some faith, however unfounded, that Obama is going to pull us through this. Yes, there are lots of commercials hawking gold, but I really don’t think most people see the wisdom in taking the plunge. Because at the end of the day, the folks who are rushing to gold are the ones who really believe that the dollar is going to seriously devalue in the near to mid term.

That said, I have read plenty of articles in foreign papers documenting the unprecedented surge in gold buying in Europe and Asia. I think that people in those countries (a) have far less confidence in the dollar’s future and (b) don’t have any Obama hopey-changey rhetoric buoying their spirits. These people are scared s***less. I also think that foreign buying en masse is one of the big reasons gold has almost doubled since 2006.

One thing you need to keep in mind (and I don’t have the links at my disposal – they are buried somewhere in my Inbox) is that the Comex futures price – the spot price by which gold is widely measured – is heavily-manipulated by the PPT. It essentially allows major players to set the price of gold by selling and buying paper without ever delivering physical metals. If this mechanism were not in place, you can be sure that the price of gold would be significantly higher. We know this to be the case because the U.S. mint’s own website sells what little gold it has in its inventory at a SUBSTANTIAL premium above spot. And any dealer you call is going to laugh if you tell him that you expect to make a purchase anywhere near spot. So that’s a major clue that the market is not being allowed to move freely.

Oh, and here’s another clue: I just checked the U.S. Mint’s website, and it is NO LONGER selling American Eagles:

“You can purchase American Eagle Gold Bullion Coins from most major coin and precious metals dealers, as well as brokerage houses and participating banks. Click here for a list of authorized dealers. They are minted in four weights – 1/10, 1/4, 1/2 and 1 ounce – to fit a variety of budgets. The smaller sizes also make affordable and thoughtful gifts.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_gold

Ditto for silver:

“The design is based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, widely considered one of the most beautiful American coins ever minted. Silver Eagles are easy to buy and sell at most coin, precious metal and brokerage companies. Click here for a list of authorized dealers. Prices are based on the market price of silver, plus a small premium to cover minting and distribution costs.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_silver

I’ve never seen this before. Over the past year the U.S. Mint has been cutting back the number of gold products it sells. But now it looks like Fort Knox has gone empty. Wow.

Call me a market purist, but I’d much prefer to acquire assets that are in seriously short supply (gold/silver) than assets that are being released in a torrent (dollars).

[partypup]

[quote=jpinpb]So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.[/quote]

JP, I think most people still hold some faith, however unfounded, that Obama is going to pull us through this. Yes, there are lots of commercials hawking gold, but I really don’t think most people see the wisdom in taking the plunge. Because at the end of the day, the folks who are rushing to gold are the ones who really believe that the dollar is going to seriously devalue in the near to mid term.

That said, I have read plenty of articles in foreign papers documenting the unprecedented surge in gold buying in Europe and Asia. I think that people in those countries (a) have far less confidence in the dollar’s future and (b) don’t have any Obama hopey-changey rhetoric buoying their spirits. These people are scared s***less. I also think that foreign buying en masse is one of the big reasons gold has almost doubled since 2006.

One thing you need to keep in mind (and I don’t have the links at my disposal – they are buried somewhere in my Inbox) is that the Comex futures price – the spot price by which gold is widely measured – is heavily-manipulated by the PPT. It essentially allows major players to set the price of gold by selling and buying paper without ever delivering physical metals. If this mechanism were not in place, you can be sure that the price of gold would be significantly higher. We know this to be the case because the U.S. mint’s own website sells what little gold it has in its inventory at a SUBSTANTIAL premium above spot. And any dealer you call is going to laugh if you tell him that you expect to make a purchase anywhere near spot. So that’s a major clue that the market is not being allowed to move freely.

Oh, and here’s another clue: I just checked the U.S. Mint’s website, and it is NO LONGER selling American Eagles:

“You can purchase American Eagle Gold Bullion Coins from most major coin and precious metals dealers, as well as brokerage houses and participating banks. Click here for a list of authorized dealers. They are minted in four weights – 1/10, 1/4, 1/2 and 1 ounce – to fit a variety of budgets. The smaller sizes also make affordable and thoughtful gifts.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_gold

Ditto for silver:

“The design is based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, widely considered one of the most beautiful American coins ever minted. Silver Eagles are easy to buy and sell at most coin, precious metal and brokerage companies. Click here for a list of authorized dealers. Prices are based on the market price of silver, plus a small premium to cover minting and distribution costs.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_silver

I’ve never seen this before. Over the past year the U.S. Mint has been cutting back the number of gold products it sells. But now it looks like Fort Knox has gone empty. Wow.

Call me a market purist, but I’d much prefer to acquire assets that are in seriously short supply (gold/silver) than assets that are being released in a torrent (dollars).

[partypup]

[quote=jpinpb]So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.[/quote]

JP, I think most people still hold some faith, however unfounded, that Obama is going to pull us through this. Yes, there are lots of commercials hawking gold, but I really don’t think most people see the wisdom in taking the plunge. Because at the end of the day, the folks who are rushing to gold are the ones who really believe that the dollar is going to seriously devalue in the near to mid term.

That said, I have read plenty of articles in foreign papers documenting the unprecedented surge in gold buying in Europe and Asia. I think that people in those countries (a) have far less confidence in the dollar’s future and (b) don’t have any Obama hopey-changey rhetoric buoying their spirits. These people are scared s***less. I also think that foreign buying en masse is one of the big reasons gold has almost doubled since 2006.

One thing you need to keep in mind (and I don’t have the links at my disposal – they are buried somewhere in my Inbox) is that the Comex futures price – the spot price by which gold is widely measured – is heavily-manipulated by the PPT. It essentially allows major players to set the price of gold by selling and buying paper without ever delivering physical metals. If this mechanism were not in place, you can be sure that the price of gold would be significantly higher. We know this to be the case because the U.S. mint’s own website sells what little gold it has in its inventory at a SUBSTANTIAL premium above spot. And any dealer you call is going to laugh if you tell him that you expect to make a purchase anywhere near spot. So that’s a major clue that the market is not being allowed to move freely.

Oh, and here’s another clue: I just checked the U.S. Mint’s website, and it is NO LONGER selling American Eagles:

“You can purchase American Eagle Gold Bullion Coins from most major coin and precious metals dealers, as well as brokerage houses and participating banks. Click here for a list of authorized dealers. They are minted in four weights – 1/10, 1/4, 1/2 and 1 ounce – to fit a variety of budgets. The smaller sizes also make affordable and thoughtful gifts.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_gold

Ditto for silver:

“The design is based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, widely considered one of the most beautiful American coins ever minted. Silver Eagles are easy to buy and sell at most coin, precious metal and brokerage companies. Click here for a list of authorized dealers. Prices are based on the market price of silver, plus a small premium to cover minting and distribution costs.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_silver

I’ve never seen this before. Over the past year the U.S. Mint has been cutting back the number of gold products it sells. But now it looks like Fort Knox has gone empty. Wow.

Call me a market purist, but I’d much prefer to acquire assets that are in seriously short supply (gold/silver) than assets that are being released in a torrent (dollars).

[partypup]

[quote=jpinpb]So I’ve been told that Mike Savage has been telling people for a very long time on his radio show to buy gold.

Do you think that Joe public is already buying gold and the media hasn’t broadcasted it? I mean, plenty of commercials on tv telling people to buy gold. One could argue that we are actually in the third phase.

But then again, more people are still promoting real estate and now’s the time to buy, rates are low, prices are low, tax credit, buy foreclosures, now’s the time or you’ll be kicking yourself.

One could argue Joe public is still busy trying to buy real estate.

Not sure. My head is spinning trying to figure this out.[/quote]

JP, I think most people still hold some faith, however unfounded, that Obama is going to pull us through this. Yes, there are lots of commercials hawking gold, but I really don’t think most people see the wisdom in taking the plunge. Because at the end of the day, the folks who are rushing to gold are the ones who really believe that the dollar is going to seriously devalue in the near to mid term.

That said, I have read plenty of articles in foreign papers documenting the unprecedented surge in gold buying in Europe and Asia. I think that people in those countries (a) have far less confidence in the dollar’s future and (b) don’t have any Obama hopey-changey rhetoric buoying their spirits. These people are scared s***less. I also think that foreign buying en masse is one of the big reasons gold has almost doubled since 2006.

One thing you need to keep in mind (and I don’t have the links at my disposal – they are buried somewhere in my Inbox) is that the Comex futures price – the spot price by which gold is widely measured – is heavily-manipulated by the PPT. It essentially allows major players to set the price of gold by selling and buying paper without ever delivering physical metals. If this mechanism were not in place, you can be sure that the price of gold would be significantly higher. We know this to be the case because the U.S. mint’s own website sells what little gold it has in its inventory at a SUBSTANTIAL premium above spot. And any dealer you call is going to laugh if you tell him that you expect to make a purchase anywhere near spot. So that’s a major clue that the market is not being allowed to move freely.

Oh, and here’s another clue: I just checked the U.S. Mint’s website, and it is NO LONGER selling American Eagles:

“You can purchase American Eagle Gold Bullion Coins from most major coin and precious metals dealers, as well as brokerage houses and participating banks. Click here for a list of authorized dealers. They are minted in four weights – 1/10, 1/4, 1/2 and 1 ounce – to fit a variety of budgets. The smaller sizes also make affordable and thoughtful gifts.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_gold

Ditto for silver:

“The design is based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, widely considered one of the most beautiful American coins ever minted. Silver Eagles are easy to buy and sell at most coin, precious metal and brokerage companies. Click here for a list of authorized dealers. Prices are based on the market price of silver, plus a small premium to cover minting and distribution costs.”

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?Action=american_eagle_silver

I’ve never seen this before. Over the past year the U.S. Mint has been cutting back the number of gold products it sells. But now it looks like Fort Knox has gone empty. Wow.

Call me a market purist, but I’d much prefer to acquire assets that are in seriously short supply (gold/silver) than assets that are being released in a torrent (dollars).

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[Author]

Posts