EE_Bota
Veteran Member
Agreed. I like a little more insight, and a lot less passion.
Banks no longer posting deposit rates?
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Agreed. I like a little more insight, and a lot less passion.
grsthegreat
Super Star Member
Thank you...
I really hate to get so burnt up on a forum...but some times a person just keeps pushing your buttons.
I just post what has been happening in my life, and what has worked for me. Anyone can have differing ideas, but you dont need to force your ideas down everyone's throats and lambaste anyone with differing ideas.
My way of doing things has worked great for my family and i'll keep following them.
At any rate....i really did know better than to get into another gold or no gold issue HEHE. shame on me. At least my Ignore button works great
Now im just looking out the window at what was supposed to be an epic snow storm (according to the network talking heads). If 1" of snow is epic, then i guess there right
schoolsout
Veteran Member
It's a shame when someone makes up their own definitions and cries when they are told they are wrong (a simple dictionary proved this point)
and then when the same person states that another forum member said something he or she didn't say and gets called on it....and cries more about it before hitting the ignore button.
Is this the society my previous generation has created? No accountability? Sure as **** seems like it to me. Sorry, but I don't want that nonsense in my life.
It really is a shame a person has to use the ignore button because he or she is too big of a wuss to accept reality.
and then when the same person states that another forum member said something he or she didn't say and gets called on it....and cries more about it before hitting the ignore button.
Is this the society my previous generation has created? No accountability? Sure as **** seems like it to me. Sorry, but I don't want that nonsense in my life.
It really is a shame a person has to use the ignore button because he or she is too big of a wuss to accept reality.
GolfAddict
Veteran Member
schoolsout, I've felt in my gut for a long time that I should have gold in my portfolio but have never done it. With some of your informative posts and references I'm thinking that, if I take the leap, I would lean toward physically buying/holding the metal rather than equities. Any pointers you'd recommend that you would care to share? That is, where and what form to think about when buying, safe keeping, etc.?
OP
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I've stayed away from "Bullion" because of the added uncertainty.
So the option I decided on for direct ownership is coins... mostly US coins.
Not a big fan of Bank Safe Deposit Boxes... they do get robbed and the banks make mistakes... my Grandmother had a loss because they said the bank had lost contact with her... she had an active checking account... it was really sad... some family items were lost forever...
There is a premium for coins and the smaller the denomination, the higher the premium.
On the other hand it might come in handy someday when you can pull out of your pocket a 1/10 ounce, half or full ounce of Gold with certainty.
So the option I decided on for direct ownership is coins... mostly US coins.
Not a big fan of Bank Safe Deposit Boxes... they do get robbed and the banks make mistakes... my Grandmother had a loss because they said the bank had lost contact with her... she had an active checking account... it was really sad... some family items were lost forever...
There is a premium for coins and the smaller the denomination, the higher the premium.
On the other hand it might come in handy someday when you can pull out of your pocket a 1/10 ounce, half or full ounce of Gold with certainty.
GolfAddict
Veteran Member
This is what I was thinking, although I may have to trust my deposit box to be ok.... not sure what I'd do with it otherwise.
Where does one go to buy? Do you look for a local place where you trade cash for coins? Coins appeals to me over chains or rings - jewelry type gold - even though I know I could get that kind of stuff at pawn shops. (I assume jewelry retail would be out of the question anyway due to paying way too much premium for the form the gold is in.)
schoolsout
Veteran Member
Safe Deposit Box and Bank Holidays don't mix well for the owner of the box...
That said, you can usually find a bullion/coin dealer in your town...they will charge a premium over spot price and that is normal. If an ounce of gold is 1665 an ounce like it is right now, a 1oz Gold American Eagle can be $75-100 or so more. If they are charging much more than that, and won't come down on price, don't do business with them. The good thing about local places is sometimes you can get away with paying in cash (much harder to do now with the gov't tracking bullion dealers...they claim terrorists/cartels may buy gold, but I have my reservations about that).
I personally buy from Bullion Direct: Buy or Sell Precious Metals online - Gold, Silver, Platinum, & Palladium Bullion, Bars, and Coins. and Silver, Silver Bar, Silver Bars, Silver Bullion, Gold and More - APMEX.com
Bullion Direct will let you buy amounts and store it with them until you are ready to ship (say you buy 1/4 oz gold/week...you can do that for however long you would like and then ship it all at once saving on S/H fees). They used to not charge you handling for doing this, but now they do.
Both of these companies are highly reliable and I suggest you explore around. There are other sites that offer even better deals, but you have to have a minimum order of an "insane to me" amount. GOLD SILVER EAGLES US BULLION DEALERS AMERICAN EAGLE COINS BARS (I think that's the address...if not, just Google "tulving gold/silver"
Physical is the only way to go. If you don't hold it, you don't own it.
And understand that gold (and to a lesser extent, silver) are very small markets that are manipulated by the governments of the world. Gold is the "anti-paper currency" and a rising gold price exposes the cracks in the monetary/financial systems.
And this site, the owner that runs it, have helped me keep my cool when, otherwise, my emotions would have gotten the best of me and I would have bailed is one I read daily. I would trust this guy with my life. He isn't in it for the money...he is in it to help the little people hold on to what they have.
Jim Sinclair's Mineset
He is the man when it comes to gold.
Good luck
and here is a bit of my physical from a year or two ago...sometimes, it just feels good to play pirate every now and again
I hold it...I own it...I am my own Central Bank.Attachments
schoolsout
Veteran Member
And this post is spot on
I'm buying mostly 1/4 oz Gold Eagles...still US Legal Tender and if it ever comes to it, easier to handle/trade/sell than a full oz coin.
If you guys really want to go down the rabbit hole, here is a site that I don't read all that much as I really don't have the time, but this is "Friend of a Friend of Another"
FOFOA
and an example of a good post...you just have to search the archives and dedicate some time...it is definitely thought provoking
http://fofoa.blogspot.com/2011/09/once-upon-time.html
Back in the 90's, there was "Another" that posted...a lot of what he talked about became evident later on re: gold/oil trade with the Middle East. The Western World is all about "paper." You can see that everywhere you look over here and in Europe (although Europeans are starting to scramble for metal now) The Eastern World knows all too well the perils of paper money/assets....they love gold/silver. There is a reason for this.
Before grsthegreat ignored me, I posted a chart for him. One that shows the astronomical rise in "debt" or leverage, if you want to get down to brass tacks....that has enabled the previous generation to think they were "wealthy." Sure, we have it good, but a lot of it, in reality, is illusory. We are starting to see the foundation we thought was solid, crumbling. It's a shame he has ignored me. I'm not some poor shmuck. I don't deal in debt and my parents are fairly wealthy. I've lived a great life, but I understand how that came to be and now that I'm trying to make it in the world, am suffering for it....so are a lot of other people, young and old.
anyways, after "Another," came "Friend of Another." They are sometimes referenced in the posts. If nothing else, read them and just think about things. They aren't quite always as they seem. If you ever need any help or other pointers, feel free to ask me. I'm no expert by any means, but I am young, fairly smart (I'd like to think) and just want to help people out in a situation that I see no fairy-tale ending happening like the MSM wants you to believe.
Pardon my French, but this isn't an ordinary "recession." Shi+ is getting real.
and, last but not least, I'm an "Austrian Economics" kind of guy....same as Ron Paul and other "true" Conservatives. Check out this site...buy some books from them...
Ludwig von Mises Institute
OP
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- Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
Hey... I guess I am too... my Austrian roots run deep...
Always thought if I had to live there... it would be OK.
Farmers everywhere have lots in common and some of those small family farms have been around for hundreds of years...
I've seen retirement contracts between the old and next generation farmers...
No where do they spell out monetary obligations...
Typically they read something like this...
6 cords of wood
4 pigs
1 milk cow
4 dozen eggs per month
timber rights
sugar, salt, cloth, etc...
In other word it all comes down to commodities... lessens passed down from the school of hard knocks where currency had become worthless or confiscated... in other words no purchasing power.
schoolsout
Veteran Member
In the end, it all boils down to reality
I'm afraid the world (mainly Western World) has created so much leverage (read: paper) that there will be an explosion in prices in real goods and a implosion in things denominated in paper. I could be wrong, but I'm pretty sure real things trump paper.
The big question is....WHEN. So far, they've been pretty dam.n good at kicking cans down the road.
I'm not here to argue...well, I do love arguing. I want to hear people's opinions (grs's, included), but I want something to back up that opinion. I feel I've provided some good info...I just ask that others back it up with "something" other than opinion. Experience is fine, but when that experience is based on credit creation/leverage, that isn't real...especially when we've hit the wall regarding that.
Hey, you got yours....you gave me shi+ for talking about your generation, but I find it just as disingenuous to say that you made this/that and are out/retired when much of that was built on unsustainable happenings. The simple debt/GDP chart I posted proves this. You can ignore it or call "fooey" on it, but at least back it up with something other than "I got mine."