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Old 02-21-2013, 11:25   #26
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Good thread.
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Old 02-21-2013, 11:26   #27
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Good thread.
I don't make too many.

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Old 02-21-2013, 11:27   #28
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PM's are insurance not investments.
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Old 02-21-2013, 11:28   #29
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I can agree with that. But some people seem to think "If I have gold, I'll be on easy street when a massive hurricane comes through." (Example scenario)

Yeah, there are some dreamers here for sure.

Correct, but it is a sound investment.

I can't remember any time gold or silver had a big crash. I could be wrong though, and someone can correct me if I am. No biggie.

You are right though, you won't be gordon gecko making millions by day trading gold, or anything.

Lower risk, comes lower reward, generally speaking.
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Old 02-21-2013, 11:28   #30
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In all things, balance is necessary. Having $100,000 in the bank and not having a generator, or a case of water or a couple cords of wood (if you live in a house) is nuts.

Having a house full of MREs, guns, ammo, navigational tools, ATVs/etc and not having any currency is likewise foolish.

Until society completely disassociates, currency will always be valuable, and the need for projecting (or using) force will also be an asset. In my near 1/2 century on earth I have not seen anything resembling the "Thunderdome" or "Book of Eli".

I don't have any gold in my portfolio for SHTF. I have it on my finger and on my wife's finger to symbolize our union.

The only silver we have are a couple of bullets and arrowheads - you know, for the werewolfs.
Gallium, there's WAY too much logic going on here.
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Old 02-21-2013, 11:30   #31
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PM's are insurance not investments.
Fair enough, but it's also insurance that changes value every time the wind blows.
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Old 02-21-2013, 11:31   #32
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Old 02-21-2013, 11:32   #33
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Correct, but it is a sound investment.

I can't remember any time gold or silver had a big crash. I could be wrong though, and someone can correct me if I am. No biggie.

You are right though, you won't be gordon gecko making millions by day trading gold, or anything.

Lower risk, comes lower reward, generally speaking.
No, I don't remember any gold crash ever happening. But, like stocks, people are buying high now, but they will lose their hind end when it levels back out and they are stuck with gold they overpaid $500/oz for.
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Old 02-21-2013, 11:40   #34
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No, I don't remember any gold crash ever happening.

1980

Took until 2008 to reach those prices again.
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Old 02-21-2013, 11:41   #35
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No, I don't remember any gold crash ever happening. But, like stocks, people are buying high now, but they will lose their hind end when it levels back out and they are stuck with gold they overpaid $500/oz for.
As the fed does QE^32 do you see gold value significantly dropping in the near future?
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Old 02-21-2013, 11:42   #36
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1980

Took until 2008 to reach those prices again.
Are those inflation adjusted prices?
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Old 02-21-2013, 11:43   #37
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1980

Took until 2008 to reach those prices again.
Oh ok. Thanks for sharing.
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Old 02-21-2013, 11:45   #38
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As the fed does QE^32 do you see gold value significantly dropping in the near future?
No, but that's the problem. You don't know.

It might go up more, it might drop like a rock. Who knows.
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Old 02-21-2013, 11:52   #39
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Fair enough, but it's also insurance that changes value every time the wind blows.
The point of PM's is to ensure your ability to obtain either goods/services in times of financial hardship or to exchange it for fiat currency to do the same in times of hardships or collapse.

I learned to insure with PM's from my Great Grand Father who was able to move the family from the mid-west during not only the depression but dust bowl, to the Pacific Northwest using the gold he refused to give back to Uncle Sam.

The recent fiat currency collapse in Argentina is yet one more validation for my insuring some of my wealth and purchasing power in PM's. To think that our fiat currency cannot collapse is self delusional. We are on the fast track to insane inflation and eventual fiscal collapse. The people that will ride that out with purchasing power are the ones that have the following:

1. Guns + Ammo + Secure storage and defensible position.
2. Adequate food stores.
3. Access to clean water that is not controlled or regulated.
4. The ability to grow/hunt food as needed.
5. Have a significant insurance pile of PM's that can be traded for goods/services that are otherwise out of their realm of control.
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Old 02-21-2013, 12:04   #40
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No, but that's the problem. You don't know.

It might go up more, it might drop like a rock. Who knows.
Given that we are nearing 17 trillion in debt - 100% of gdp, running 1.5 trillion deficits with no budget and unsustainable spending, not to mention the fed printing money, where else is gold going to go?
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Old 02-21-2013, 12:04   #41
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Don't take investment advice from Dave Ramsey


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Old 02-21-2013, 12:07   #42
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Given that we are nearing 17 trillion in debt - 100% of gdp, running 1.5 trillion deficits with no budget and unsustainable spending, not to mention the fed printing money, where else is gold going to go?
Well, good point I reckon.
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Old 02-21-2013, 12:08   #43
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How come?
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Old 02-21-2013, 12:18   #44
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Are those inflation adjusted prices?
No. Using inflation adjusted prices.... gold still hasn't reached the level of the 80 peak

http://www.macrotrends.org/1333/gold...storical-chart

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Old 02-21-2013, 12:18   #45
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I notice that Dave Ramsey is endorsing a company which is buying gold, not one which is selling gold.

If you have a bunch of jewelry that is no longer wanted, why not sell it at inflated prices...
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Old 02-21-2013, 12:21   #46
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If you have a bunch of jewelry that is no longer wanted, why not sell it at inflated prices...
Exactly.
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Old 02-21-2013, 12:31   #47
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Wouldn't want to take financial/investment advice from someone who leveraged himself to millionaire status and went bankrupt by age 28...hasn't borrowed a dime since and is a multi-multi millionaire. We followed his advice and paid off ll of our c/c and other debts. Only debt left is our house and that will be paid off in a couple of years. I wish I had heard of him 20 years ago.
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Old 02-21-2013, 12:33   #48
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Wouldn't want to take financial/investment advice from someone who leveraged himself to millionaire status and went bankrupt by age 28...hasn't borrowed a dime since and is a multi-multi millionaire. We followed his advice and paid off ll of our c/c and other debts. Only debt left is our house and that will be paid off in a couple of years. I wish I had heard of him 20 years ago.
I've heard several here say that Dave's investing advice is crap, but the above always kind of comes to mind.

But I never hear why his advice is crap.

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Old 02-21-2013, 13:16   #49
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Read up on Freegold and make your own decision.

Basically, the US Dollar will cease to be the world's reserve currency. Gold will replace it. And in order for gold to do that, it will have to be repriced to about $50K per ounce.

That is where we are going. You can get on board or not. Don't say you were not warned.
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Old 02-21-2013, 13:18   #50
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The point of PM's is to ensure your ability to obtain either goods/services in times of financial hardship or to exchange it for fiat currency to do the same in times of hardships or collapse.

I learned to insure with PM's from my Great Grand Father who was able to move the family from the mid-west during not only the depression but dust bowl, to the Pacific Northwest using the gold he refused to give back to Uncle Sam.

The recent fiat currency collapse in Argentina is yet one more validation for my insuring some of my wealth and purchasing power in PM's. To think that our fiat currency cannot collapse is self delusional. We are on the fast track to insane inflation and eventual fiscal collapse. The people that will ride that out with purchasing power are the ones that have the following:

1. Guns + Ammo + Secure storage and defensible position.
2. Adequate food stores.
3. Access to clean water that is not controlled or regulated.
4. The ability to grow/hunt food as needed.
5. Have a significant insurance pile of PM's that can be traded for goods/services that are otherwise out of their realm of control.
Exactly.

And you can only have so many preps. If you need to save wealth in excess of what you have in preps, gold is the best vehicle. Has been for about...oh, 5,000 years.
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