I understand the logic on your 1000 bill analogy, etc. However, I don't know that I understand what you meant by making change for gold. Like if I went to the store right now with one of my 1oz bars, they don't have gold to make change with. Likewise with my local bank. If I took a 1oz bar there and asked for change in gold, or to exchange it for cash, or even to use as collateral for a loan, they would laugh at me (really). I completely agree with you on things, just that one point I had ?'s on
just want to explain, i'm a jeff macke fan, jeff macke is very pro-gold right now. he's got a new show and was disclaiming that he is. he's very anti-government and wall street.
he's just also a short term trader, and he's also very cynacal. he believed in going cash for a very short term period because cash gives one "liquidity"; but he shortly went long gold afterwards.
so i agree with you man, i'm just saying i think jeff macke does too!
yes.... keep cash. who knows when the toilet paper will run out or how much it will cost for a roll. People please wake up. Who would it benefit for people to store cash. Not the public,
for one, stop being average. cut out spending on beliefs. god doesn't need money and bumper stickers depreciate a car's value. the most important vote for businessmen, masquerading as a politicians, is the vote that gets them into office. the most important vote for a voter, is the vote that gets corrupt businessmen, masquerading as politicians, out of office. if one buys precious metal, don't take them to walmart to purchase an i-pad.
None unless you know you can travel to a city of people.
Thus a storage of wealth is human concept where I work to provide food or clothing and I require something in exchange. If don't need anything today, I will need some form of wealth storage so I can exchange for things I need in the future.
I heard that some grocery stores are taking gold and silver in exchange food. Can't confirm it.
We need to grow our own food. If you think Gold and Silver are on a steady rise in value, just wait until the dollar crashes. Chicken will sky rocket, fish will go through the roof. Blankets will be worth their weight in Gold.
I say whatever dollars you don't spend on food stock and survival turn them into Gold and silver. But remember one cow could cost you all your gold one day.
I think that a better storage of wealth would be more cows. I mean, once we stabilize the economy and our planet perhaps the wealthiest cow farmers would want to store there money as gold. I could see that.
However I think during the very chaotic times, right after the dollar goes away, before we have a chance to rebuild, is when gold won't do as much for you as you think.
You need a LOT of preperty to feed cows, and its not that simple you need to protect your cows from disease and not to mention people, and if you have cows then you're gonna need to milk them, and if you have too many for once person to milk then you're going to need to employ some people, and how are you gonna pay those people. And again, cows die and gold doesn't expire.
@icecreaman42013 When the monetary system of China failed during WWII, the value of a silver dime became known through out that huge communications-less, somewhat primitive country -OVER NIGHT!- now for a plug: Monarch Precious metals has silver rounds for sale in 1 gram, 10thoz., 4thoz., 1/2oz. etc. sizes, (small incriments) For those of us who live on rent properties or have homes in the cities and towns, carrying cows around ain't gonna work. Having stores of food in bulk a must.
@icecreaman42013 i wish i had gold bars, but its much harder to keep a bunch of cows from being stolen/eaten/injured than it is a few gold bars. Also, you need lots of property in order to rotate the cows from field to field. All you need a safe and a shotgun for your gold, as opposed to how many resourcesfor keeping your cows safe?
dnt read this(cuz it really wrks). u will gt kissd on the nearest frieday by the love of ur life. 2mara wll b the bst day of ur life hwever if you dnt post ths comment 2 at least 3 vids u will die withn 2 days nw uv startd readn this dnt stp this is so scary snd ths ovr 2 5 vids in 143 mins when ur done press f6 nd ur crush's name wll appear on the screen n big letters ths is so scary cuz it actully wrks ths really wrks
Buy food not gold. 1933 Gold confiscation. They did not take your food. Buy a dehydrator, mylar, vaccum food sealer, oxygen absorber...start a garden and get busy. In a year you should be able to stockpile 5 years of food. Dehydration is the key. Imagine if you never had to buy most of your food ever again. That would be freedom.
It was explained to me like this, the US dollar is a scam. This is a 100 year old scam coming crashing down. Currency is whatever people have confidence in for trading. For now it is cash, soon it will tangible assets. You will need both.
I agree, with inflation estimated to be up to 25% this year, paper money is an investment losing you 25%/year. That is a really bad investment.
What are your thoughts of investing in rental properties? I figure with a rise in unemployment people will be looking for cheap rent. Gold and silver are so manipulated it is hard to invest 50k+ in them.
Rental properties will be good once the housing prices bottom. That's a long time from now. Talk to VisionVictory about it as he does that for a living.
the government in this day and age would let 280 million people "canada, us" just have no money?.. I find that really hard to believe.. but I do agree with investing in silver and gold, I just would diversivy and not put all the money I have in gold and silver.. because like was said in the video you can't go to the grocery store and trade a gold nugget for a bunch of groceries " you can only use OUR DOLLAR.. so while it might not be "real money" as you say.. it certainly is for now
Um, You can't go to the grocery store and with 1000 dollar bill. Does that make it invalid?
No.
You go to the banks and make change.
You do the same thing with gold.
The real difference between the $1000 bill and one ounce gold coin is that one WILL depreciate and the other will hold it's value, up or down in dollar terms.
I have met 10+ people with net worth over 1 million how is this possible? Paper money. The truth is $15 trillion and if 1% moves to real silver or gold... Game over
all of this "the dollar is going to be worth nothing" is hurting my head.. Maybe its because I don't quite understand it all.. but if you look over the course of history how many BIG currencies have actually failed?.. "german, in 1923 or whatever kind of a little different economically and resourcefully don't you think?" and I guess mexico and argentina? Im not quite sure on this but arn't they more so considered "poorer countries?".. If the dollar does infact fail do you honestly think that
BUSH signed in What FDR already did in 1933. The Executive Order No. 6102 Ordered all us citizens to turn in gold at a cut rate price of 20.67$ per oz.
IF YOU DID NOT you could go to jail.
Bush has done it and under the Patriot act no one is safe. If you bought any gold they will know and they can and WILL prosecute you.
THE ONLY ESCAPE is to buy rare coins that must be worth at least 10% more then the current gold price. If the oz is 1000$ and you have an oz coin...
His point is that when the shit hits the fan...nobody is going to be exchanging your gold. The markets won't be open......It's like living in a million dollar house when nobody can get a loan from the bank and no one is a buyer.
Yes, you can't ship a million dollar home over seas.
Good luck with paper money.
"Paper money always seeks its intrinsic value - zero." - Voltaire
"Gold is money and nothing else." JP Morgan.
Central Banks around the world hold 75% of the worlds gold in deliverable form (bars and coins). Some how I doubt those bankers are crazy for holding so much gold.
I have an extra $100K. Should I still buy, say, $20K in Gold? Im not gonna put it in a CD and otherwise Im gonna drop cash in a safe. Should I drop cash and some Gold and silver in that safe?
America has lost, it just refuses to admit it. Sad.
Capitalism = rich support the rich + the rich delude the masses into thinking they are "middle class" with all their freely available credit + the rich winning in the end by crushing the dumbass masses who they fucking deluded in the first place.
MONEY TO THE PEOPLE...... screw giving the bail out money to ANY Wall Street Co - Give the people the money, as they spend it it will fix economy, stop forclosures, get america out of debt, etc.
PLEASE join my protest to the Bail out and answer 1 question on camera: "How would you spend $297,000 dollars?" - That is the amount of BAIL OUT money given to the people....C'MON AMERICA, JOIN US IN TELLING THE GOV HOW WE COULD FIX THIS ECONOMY!....... The Fight Isnt Over YET!!
Great video. I agree with your opinions. Silver might actually work in a grocery store fairly easily. I can easily picture silver coins being used as currency. We used to use them in the past before inflation krept up on us. People would take them for cords of wood or farmers would take them for food. I'm sure that some of those great Canadian strippers that I've seen would take them but they would definately weight down their thongs.
I am now selling some items on ebay to generate cash. I will have enough cash. Some cash is needed, but more needed is the ability to survive without going to the supermarket. So the most important thing is storing food, but many more strategies like growing, collecting, drying, storing... and so many more.
Another great video! What a dichotomy of views. Everytime Peter Schiff, Jim Rogers, or Marc Faber make this commons sense argument they are scoffed at. Macke is a trader, he makes no money by saying hey buy gold and silver. same old stuff
bend over baby and hope you can get a room with a view and ac at the fema camps that all we can do, 1776 was just that abd will not repeat again, we lost the might to stand up for whats right, we put a lot vids up on u-tube but that far as the todays 1776 goes, so what to do ,, bend over that all you can do.
ok, i'll try and explain it again. what macke is saying is that IF we reach the point where the dollar becomes valueless, we will be living in an apocalyptic world where your gold, although more valueable than paper, won't stay with you for long unless you have the beef to stop people from taking it from you. so what he means is that you should hold cash to trade. if the scenario arises we're screwed regardless of how much gold we hold. that is the way i understood it.
Again can I ask you a question in that event who is more screwed the person the millions of gold or the person with millions of dollars?
Again that's like saying well forget fire insurance because you will lose the stuff you want to keep so what's the point. This kind of thinking is what cause people to commit suicide.
Could I lose my gold to theft, sure but it's not the end of the world. Just like the insurance company could go bankrupt after a fire.
pre apocalypse, it's probably better and easier to hold cash. as the product of the printing press makes its way onto the market this will probably change at which point it will make sense to buy gold. post apocalypse, cash and gold are irrelevant as the economy moves into the who has the biggest guns phase. that's what i understood from mackes commentary
i never said that. i was just trying to clarify what i believe macke was trying to get across. having said that, i don't think that now is a good time to buy gold. i think now is a good time to hold onto cash. i also don't think that we're heading into apocalypse either. if we were though, gold or cash would both be irrelevant and bigger guns would probably be a lot more comforting.
You finally stated your real point. You do not believe in gold until after a particular event occurs. Thus our only difference is I what those events are.
That the crux of you argument.
You want gold when it's time to get it.
Big guns do not store your wealth it only protects it. If you have none to protect what's the point of big guns?
Oh that's right to go steel from the person who has wealth stored before it was too late.
I can hide the value of ten guns in my pocket with gold I can move to a more civilized area with gold and I can buy smaller 1/20 ounce of gold and its value stays the same.
Gold and silver are money. You need money to buy things you never though you would need in the future.
a GUN is yes what u will need for protection, so on and so on. but lets get real the governemnt is going to take away ur second amendment anyways, if ur in the US like myself. but i mean if u have silver and gold at least you can buy ur food and buy ur big GUN u want :) either way u go, u need purchasing power in some way becasue a gun is not used to survive in a civilized nation. now if u plan on going to the jungle or desert to live somewhere then maybe a gun will be ur best bet
i think you missunderstood macke. what he was saying was that if it gets that bad, ie the dollar loses ALL its value, gold won't save you. what he meant, and obviously he can't say it, is that IF it gets to that point, you better have some guns! that is what i understood
So what you are saying is if I have millions in cash I should keep it because if it goes to zero I will be dead anyways?
Is that what you are saying?
Let me ask you this if I have that millions in gold and the dollar goes to zero, things get very bad then get better and I am some how alive, was I smart to keep my wealth in gold?
If you don't agree please explain how gold did not preserve my wealth?
are you suggesting that you would pay those credit cards you bought metals with by selling those same metals or just saying screw em? Help me out here. Love your vids & insight. although I once felt like saying screw em on the debt too, i just couldn't feel you totally when you were saying that now knowing what these monsters have planned for these camps.
After you purchased the metals they WILL double this year. When it does sell half and pay back the debt, if there is hyperinflation then sell a single coin and pay back ALL your debt. :)
Supposedly the fema camps are, among other things, to be used for debtors who can't pay up. If the dollar becomes worthless how will people with no other currency pay those debts?
is there a foreign currency that you would recommend converting to? And in regards to your past remarks about going out with the credit cards to make a mad rush for your bailout, What about debtor camps? I have been advised to pay all my debts and not accrue anymore. Even before purchasing precious metals.
There are no such things as debtors camps. Look for a documentary called "assent of money" it talks about debt default is a way of life in America, and a normal every day thing that has no real consequences accept emotional ones and social ones.
It's this simple. The gold bugs, always have, and always will be - a minority.
That minority has grown in the last two years. But it's will always be ... a minority. Heck, I own physical gold and silver and diamonds.
But it's only insurance. That's all. You don't make your entire paycheck go to your "home insurance".
Here's a little exercise. Look up PAAS, and how much they are selling in physical buillion. It's a minority of their total business. A small, small minority.
But the gold bugs will say "Only own gold, 100%, 80% gold and 20% silver" in a DEFLATIONARY environment. That's insane.
It's as if the Gold Bugs are becoming Milton Friedman of 1982, and they are going to be just as severely embaressed as Friedman was in 1983 when he cried Hyperinflation in 1982 as well. And Friedman was a HECK of a lot more than an economist than gold bugs.
Most people want the US Dollar to go to zero because they * hate * Americans, not because of economics.
But the facts? The facts are that the US Dollar has risen more strongly in terms of voliatity in the last 4 months, than it EVER has in it's ENTIRE lifetime. Ever.
It's higher now, in terms of price, than it has been in 2 years.
"Bit it might" or "I think it will" - doesn't make you money - today, and put money on your kids plate, today.
True the USD is higher against other paper money. But hey I guess the few brokerages houses that have decided to denominate all transactions in gold and price everything in gold and have cash accounts in gold are just ludicrous.
They must be crazy acting like gold has ever been money before. Oh sorry that's right it was. lol :)
Peter Schiff's clients - audited? Are down between 40% and 70% on their money. Even for long term investing? That's just insane. Insane. All because he positioned them for a dollar collapse. And he was wrong. Very, very, very wrong.
Google it: "Peter Schiff was wrong"
Audited statements of just how badly Peter has managed his clients money.
Yes, I have seen it heard it on radio shows, everywhere I turn people are putting Peter on a cross.
I guess you will not go over to his website and read his response.
Hey btw I join Peter 1 year go and only purchased gold and silver I'm up 30% (Canadian) never mind his clients that have been with him for years who are up 100x Never mind that his clients who got in early ad are still with him have not lost anything. As I have not seen any gains until I sell into items I wish to own.
I think the real story, is the manipulation. What myself, as a trader sees is this (for those interested in conspiracy). Everyone is talking about hyperinflation, led by a few, very prominent folks. This is in the banks best interests. They know there won't be hyperinflation, so they want people to believe there will be hyperinflation. They then have people buy gold, and then they have folks taking the opposite side from them, so that they can short the metals into complete oblivion.
Your absolutely right however they do not need to short the metals to oblivion traders like you will do it for them when there is no metal to be delivered from the COMEX and they only provide liquidation only.
Then who would buy a promise to ship nothing but more cash?
So the banks makeout like bandits. The 'hyperinflation pundits' make out like bandits, since they get to charge managerial fees, despite the losses of their funds. So they have their money.
The people who lose out, are those on the opposite side of the banks.
The rest of us are hip to this game, and saw it played in 1982 to 1983; so we know not to fall for it, and go to cash. Heck, today, even Morgan Stanley is trying to say there might be hyperinflation. That's the biggest red flag to hyperdeflation that you could possibly have. An investment bank trying to 'help out the small guy'. Yeah right.
You may be right of course however I have to wonder what people out side of the United states with 6 Trillion in US dollars are going to do. Keep it and take more?
Something to consider in your calculations as no one from the US showed up in davos switzerland economic form about killing the US dollar. But whatever.
hey D, what would you do if you had monies in a state profit sharing account and was a year from retirement? of course, it has taken a beating at a drop of about 18% to date, so tell me what YOU do.
I would be 80% gold 20% silver and nothing else each year as the gold reached a new high sell some to have 6 months of cash for expenses but I would not leave it in a bank unless I knew for sure the bank did not loan money to people did could not pay it back.
At this point if I was retiring that's what I would do. Gold is the only asset that will not go to ZERO.
you canadians and yanks are lucky, in the uk its almost near to impossible to get hold off silver bullion bars, banks don't sell it and the only option is coin shops and in the whole of london i only found 1, we don't have no commex, apex who deliver, the only few companies that deliver charge over 100 pounds over the spot price ebay is alot cheaper then them
hey davincij, you still betting on a drop in silver or you think its up from here on out? still waiting to max out that plastic or have u taken the plunge?
I didn't purchase my silver for the near-term move. It's for the long-haul. I can't be discouraged by the day-to-day volatility as it compares with gold.
What are you talking about if you purchased silver when I told you to you are up more than gold? Also you are up nothing until you sell are you going to sell now? How about next week? Then you have made nothing.
Well, he we are. A fourth day where gold and the dollar have moved in concert. Gold outperformed the dollar considerebly, but if you were short everything and long BOTH the dollar and gold today you did very well. What does this mean? Who'd of thunk that gold would move up with the dollar? Or is it that the dollar is moving up with gold?
You must convert your yen, sterling, euros etc to buy gold. The US dollar is the world reserve currency, that means all commodities are priced in US dollars and must transacted in US dollars on any exchange.
Even here in Canada when I go to my banks I must buy USD before I buy gold.
Anybody noticing how when the DJI moves down, PM's move up? This wasn't the case in the latter part of 2008. Dow is currently -177, and Gold is pushing 910 USD oz. Silver is up also.
Maybe the US citizens better send their houskeys to the bank and leave their house.
Because the ING bank will be backed up by that moronic Dutch minister of finance Wouter Bos. He will pay for 80 percent i think of that defaulting mortgages. ING bought a lot of that mortgage packages in the US.
Everybody should let ING fail, but not the "man of the year" Wouter Bos (really people voted him man of the year, need i say more about the intellectual qualities of the people around here?).
my example is simplistic and also very conservative. In reality, if the money supply is doubled by central bank, you could see it get expanded at least 9 times more by other banks because of the fractional reserve nature of banking. 9x$10 trillion = $90 trillion + $10 trillion in existance = $100 trillion in whole economy. Thus from $10trillion to $100 trllion means your $1 dollar been devalued by 10 times = 10 cents
Tina, each day you stay in USD you are in danger of seeing you dollar value reduce over night. Even today you can go to the grocery store and see it happening. The dollar is only as good as what it can buy.
Call someone like a broker at Euro Pacific capital even if you don't invest with them they will give you good advice.
You are pretty right. There will be not time left when the run starts. And it is also questionable if then any hard assets are available at all. It looks to me that if something like a crash happes you only have what you have collected before. Its too late for a squirrel to find nuts when the snow falls over night ...
different suppliers have different qualities of gold/silver bars. Setting up a standard based on a still monetary trading unit is not the best alternative for doom and gloomers. If it all goes to hell, buy a fishing rod, guns and bullets, some body armor and a fuck load of cocaine to go out in style.
Loading one's credit card with debt to buy gold and silver is not a safe idea... If hyperinflation happens, your credit card debt will also be charged at million or billion percent interest... Best strategy is to make sure you have no or least possible debt and convert 20% of yours savings to gold/silver bullion/coins, 20% in large/medium cap gold mining stocks, 20% in a basket of large cap resource company stocks and rest 40% in plain cash; cut living expenses to the least and save as much...
i don't think its going to go down, think we might see violent moves upwards like 400-500 in a day, and for thoes who say its not possible look at rhodium that metal can swing $600 in a day so it is a potential scenario. pluss right now gold is a damn good deal, so the question is do you wana risk and starve your self to death a year from now ?
What fool would try to exchange gold dust for a loaf of bread? Does this guy think we're fools? If not, don't talk to us like we're fools.
If I needed cash, I would sell my gold to a gold dealer, bullion dealer, bank etc., and use cash to pay for the bread. Dang. This ain't rocket science.
I'm treating this evolution as preparation for the 'storm of the century'.
I have a mix, thanks to wise advice from guys like you and a decade ago by a family member.
I own mining stocks, pm's and keep cash on hand and some in the bank. And nothing, not food, water, guns, pm's...anything of value is stored in one place.
did you know this year Sept 26th ends the Central Banks Gold Agreement?
CBGA was signed in 2004 and limited sales to a maximum of 500 tonnes per year over five years (2,500 tonnes over the length of the agreement).
Now after this date these central banks may not wish to sell any Gold in these times as currency devaluation sweeps the globe in an effort to fight asset deflation and recession.
So gold will become much more desirable as a reserve asset worth owning (not selling).
After the revolutionary war the continental dollar became worthless. We went on a gold-silver standard but didn't have any mine production to supply it. So for many years we used metal currencies from other counties alongside ours. Tobacco, whiskey, and tea were also used as currencies.
The point is that people adapt. They will always seek out a form of money to supliment and ultimately replace a barter system, but it is very doubtfull they would replace one worthless fiat with another.
It's true that the bartering system is not sustainable. After all, it's a rather difficult system because things could have different values to different people. A currency can really be anything at all. I read somewhere that the people in the Weimar Republic used American cigarettes as a sort of replacement currency.
I think that happened in post ww2 Germany, but it did happen. In any case your point is well taken.
Speaking of war, you've reminded me of something. I've heard that our military pilots flying in war zones were given, among other survival items, gold coins.
Not to use in pay phones. Not as emergency screwdrivers. They were issued because they would have value in trade with indigenous people no matter where a pilot might be shot down. They also issued a pistol, to back it up
Lol u think people with gold and silver are gona stay in a barter nation plz, get your heads out of your asses there has to be 1 country in the world were the nations currency has held and were ever that is gold and silver will be damn high and thoes that immigrate there will be well off, dont know about you guys but i'm out of this place when shit hits the fan and believe me its gona be a messy shit
Great response. People have to turn the tv off. Invest in things that are real. Gold is held by the central banks for a reason. It is real money that has stood the test of time while every paper currency (except the current 38 year old ones) has ended with a value of zero. Gold with its 5000 year monetary history or fiat? Is it really that difficult to see where to store one's wealth when the paper funny money is engaged in its voodoo economics death dance?
The guy is wrong because what happens is people will cut the gold or silver into small pieces - grams (in an inflation nightmare) and convert it at a bullion store into useless cash and THEN go buy your food at a supermarket or store.
You wouldn't present Gold or Silver at the store!
It would all be done with SMALL quantities of metal for food.
"A Depression is impossible in the old sense of the word. If one describes a depression as the loss of purchasing power of the wage earner (a correct definition), then we have been in one for the past 50 years since wages have not kept up with the cost of living. But since everyone is thinking breadlines and the 1930's, I will stay with that picture for our definition. It is not going to happen. "
But he is really positive for gold and silver, ik like to hear this!
He thinks so because he is looking at the price of copper delivery in 2009 and 2010 which are quite high according to him. And copper is the best thermometer because it is used in building houses and so on.
Interesting article which make me more positive to the future:
"
Relax: There Will Be No Depression - gold and silver will outperform
LA-based gold commentator Kenneth J. Gerbino tells us why he feels there won't be a depression but we will be faced with inflation, and markets in general, and bonds in particular, will prove to be bad buys, while gold and silver will perform best of all.
"
So if you buy gold and silver, and mining stocks of those two guys... (mineweb(dot)com). Hope he is right.
A lot of rules apply to "your property" because one has to pay all kind of taxes on owning the land, for example a new rule here is that you have to pay for some other government official to draw a map of the tubings (gas, water maybe) that go through your land.
That can cost thousands of euros, and you have to pay.
You're right. Saying that investing in gold is stupid because shops don't take gold is like saying that investing in Japanese yen is stupid because shops don't take Japanese yen. Over the past few months, the exchange rate went from being 107 yen = 1 USD to 89 yen = 1 USD. If you need dollars, just exchange them back, little by little, as you need them. Same with gold.
it is good to have a balanced approach to your wealth reserves. i personally think inflation is a real danger in the future so it would not make sense to have much cash on hand but definitely enough in the short game. long haul though commodity metals are going to be ideal imo. also, there is always a need for your basic necessities if you cant afford metals and all hell breaks loose- you can't eat/drink gold.
it was good to hear you expanding on the macke interview - good food for thought.
Hold enough cash to be liquid for a couple of years....That is, money to pay your bills, taxes, insurance, mortgage, car payment. Anything beyond that get Gold/Silver/Oil/Agriculture......Just my opinion......you have to keep some cash even though everyone knows the value is going to sink.
you know, i have to say precious metals are of course a safe bet right now (i really like how platinum looks, although its not discussed much) but if you're looking for something else to invest your money in- open a forex account. with all the dips and jumps in currency exchange rates, it can pay off very quickly just basing investments on indicators. if the goals of the banking elite are met, currencies will be standardized and eventually you wont be able to trade forex so use it while u can
I understand the logic on your 1000 bill analogy, etc. However, I don't know that I understand what you meant by making change for gold. Like if I went to the store right now with one of my 1oz bars, they don't have gold to make change with. Likewise with my local bank. If I took a 1oz bar there and asked for change in gold, or to exchange it for cash, or even to use as collateral for a loan, they would laugh at me (really). I completely agree with you on things, just that one point I had ?'s on
RockyMountainPrepper 1 month ago
@RockyMountainPrepper
The point is there is a place where you can go to get the bills you need to go to the store.
davincij15 1 month ago
@davincij15 Of course. Maybe I misinterpreted it. Either way, I'm stackin'. I love your channel. Thanks for your perspective.
RockyMountainPrepper 1 month ago
i agree with your philosophy.
just want to explain, i'm a jeff macke fan, jeff macke is very pro-gold right now. he's got a new show and was disclaiming that he is. he's very anti-government and wall street.
he's just also a short term trader, and he's also very cynacal. he believed in going cash for a very short term period because cash gives one "liquidity"; but he shortly went long gold afterwards.
so i agree with you man, i'm just saying i think jeff macke does too!
what1111000 9 months ago
yes.... keep cash. who knows when the toilet paper will run out or how much it will cost for a roll. People please wake up. Who would it benefit for people to store cash. Not the public,
captainterrible525 1 year ago
for one, stop being average. cut out spending on beliefs. god doesn't need money and bumper stickers depreciate a car's value. the most important vote for businessmen, masquerading as a politicians, is the vote that gets them into office. the most important vote for a voter, is the vote that gets corrupt businessmen, masquerading as politicians, out of office. if one buys precious metal, don't take them to walmart to purchase an i-pad.
AvEryBadApPLe 1 year ago
Only when the last tree has died
and the last river has been poisoned
and the last fish has been caught
will you realise that you cant eat money.
icecreaman42013 2 years ago
What good is a storage of wealth in the desert?
None unless you know you can travel to a city of people.
Thus a storage of wealth is human concept where I work to provide food or clothing and I require something in exchange. If don't need anything today, I will need some form of wealth storage so I can exchange for things I need in the future.
Food does not store wealth as it goes bad.
davincij15 2 years ago
I heard that some grocery stores are taking gold and silver in exchange food. Can't confirm it.
We need to grow our own food. If you think Gold and Silver are on a steady rise in value, just wait until the dollar crashes. Chicken will sky rocket, fish will go through the roof. Blankets will be worth their weight in Gold.
I say whatever dollars you don't spend on food stock and survival turn them into Gold and silver. But remember one cow could cost you all your gold one day.
icecreaman42013 2 years ago
No, the cow will not be worth more than gold because even the cow owner needs a storage of wealth or an Item the everyone will accept in exchange.
Funny thing is the price of a cow today or 20 years ago, 40 years ago and 100 years ago or 300 years ago cost one ounce of gold.
Cool eh?
davincij15 2 years ago
Interesting.
I think that a better storage of wealth would be more cows. I mean, once we stabilize the economy and our planet perhaps the wealthiest cow farmers would want to store there money as gold. I could see that.
However I think during the very chaotic times, right after the dollar goes away, before we have a chance to rebuild, is when gold won't do as much for you as you think.
icecreaman42013 2 years ago
That's fine I have 6000 years of history backing me up.
Good luck.
davincij15 2 years ago
what do you think will be easier? raising and maintaining a cow...or buying an ounce of gold. Cows cost money to maintain...and they die.
dafleate 2 years ago
@dafleate
actually cows eat grass...they don't cost money to maintain. You enjoy eating your gold bars...
icecreaman42013 2 years ago
@icecreaman42013
You need a LOT of preperty to feed cows, and its not that simple you need to protect your cows from disease and not to mention people, and if you have cows then you're gonna need to milk them, and if you have too many for once person to milk then you're going to need to employ some people, and how are you gonna pay those people. And again, cows die and gold doesn't expire.
dafleate 2 years ago
@dafleate find someone else as desperate for help as you are. Barter. Work out a deal. No one seems to realize we're all in it together.
ad627 1 year ago
@icecreaman42013 When the monetary system of China failed during WWII, the value of a silver dime became known through out that huge communications-less, somewhat primitive country -OVER NIGHT!- now for a plug: Monarch Precious metals has silver rounds for sale in 1 gram, 10thoz., 4thoz., 1/2oz. etc. sizes, (small incriments) For those of us who live on rent properties or have homes in the cities and towns, carrying cows around ain't gonna work. Having stores of food in bulk a must.
tobycat11 1 year ago
@icecreaman42013 i wish i had gold bars, but its much harder to keep a bunch of cows from being stolen/eaten/injured than it is a few gold bars. Also, you need lots of property in order to rotate the cows from field to field. All you need a safe and a shotgun for your gold, as opposed to how many resourcesfor keeping your cows safe?
dafleate 1 year ago
My last post was for teaching only,Sorry if you took it wrong!
1989JCH 2 years ago
Buy guns and ammo. I will take your gold and food with my guns. You better be able to defend your shit.
1989JCH 2 years ago
Thanks for the heads up but I have it hidden away and most in a safety deposit box in Canada.
davincij15 2 years ago
So your going to rob good people trying to survive? Why don't you acquire your own food?
Yeah everyone should have guns. You cannot eat guns and ammo. You can hunt with them instead of robbing people with them. Think peacefully.
icecreaman42013 2 years ago
Yeah and that would be the last time you would rob someone
chadgresham 2 years ago
This has been flagged as spam show
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mexicanking27 2 years ago
Buy food not gold. 1933 Gold confiscation. They did not take your food. Buy a dehydrator, mylar, vaccum food sealer, oxygen absorber...start a garden and get busy. In a year you should be able to stockpile 5 years of food. Dehydration is the key. Imagine if you never had to buy most of your food ever again. That would be freedom.
GreatLakesBuffalo 2 years ago
No actually this time they are going after the food...
Look up H875 and S425.
Freedom comes from wealth as well as food.
davincij15 2 years ago
It was explained to me like this, the US dollar is a scam. This is a 100 year old scam coming crashing down. Currency is whatever people have confidence in for trading. For now it is cash, soon it will tangible assets. You will need both.
carter102 2 years ago
That's correct you will need both but you will not want to store long term wealth in paper currency.
davincij15 2 years ago
I agree, with inflation estimated to be up to 25% this year, paper money is an investment losing you 25%/year. That is a really bad investment.
What are your thoughts of investing in rental properties? I figure with a rise in unemployment people will be looking for cheap rent. Gold and silver are so manipulated it is hard to invest 50k+ in them.
carter102 2 years ago
Rental properties will be good once the housing prices bottom. That's a long time from now. Talk to VisionVictory about it as he does that for a living.
davincij15 2 years ago
the government in this day and age would let 280 million people "canada, us" just have no money?.. I find that really hard to believe.. but I do agree with investing in silver and gold, I just would diversivy and not put all the money I have in gold and silver.. because like was said in the video you can't go to the grocery store and trade a gold nugget for a bunch of groceries " you can only use OUR DOLLAR.. so while it might not be "real money" as you say.. it certainly is for now
LPU4LIFE7 2 years ago
Um, You can't go to the grocery store and with 1000 dollar bill. Does that make it invalid?
No.
You go to the banks and make change.
You do the same thing with gold.
The real difference between the $1000 bill and one ounce gold coin is that one WILL depreciate and the other will hold it's value, up or down in dollar terms.
I have met 10+ people with net worth over 1 million how is this possible? Paper money. The truth is $15 trillion and if 1% moves to real silver or gold... Game over
davincij15 2 years ago
all of this "the dollar is going to be worth nothing" is hurting my head.. Maybe its because I don't quite understand it all.. but if you look over the course of history how many BIG currencies have actually failed?.. "german, in 1923 or whatever kind of a little different economically and resourcefully don't you think?" and I guess mexico and argentina? Im not quite sure on this but arn't they more so considered "poorer countries?".. If the dollar does infact fail do you honestly think that
LPU4LIFE7 2 years ago
I agree!!
BUT BUT...
BUSH signed in What FDR already did in 1933. The Executive Order No. 6102 Ordered all us citizens to turn in gold at a cut rate price of 20.67$ per oz.
IF YOU DID NOT you could go to jail.
Bush has done it and under the Patriot act no one is safe. If you bought any gold they will know and they can and WILL prosecute you.
THE ONLY ESCAPE is to buy rare coins that must be worth at least 10% more then the current gold price. If the oz is 1000$ and you have an oz coin...
beastieboydickie 2 years ago
the coin must be worth 1100$ to be excluded from this bill. BUSH also extended this law over to SILVER.
THATS HOW THE RICH STAY RICH.
If not in gold Diamonds or rare art.
BUT you must be careful with diamonds as USA grade diamonds are SHIT compared to Antwerp diamonds.
YOU MUST REALIZE who runs our country its not the Government its the people who finance the government.
Thats why I only buy rare gold CERTIFIED coins. GOOD LUCK!
beastieboydickie 2 years ago
$1000.00 bills are only used by the fed.
His point is that when the shit hits the fan...nobody is going to be exchanging your gold. The markets won't be open......It's like living in a million dollar house when nobody can get a loan from the bank and no one is a buyer.
los40d 2 years ago
Yes, you can't ship a million dollar home over seas.
Good luck with paper money.
"Paper money always seeks its intrinsic value - zero." - Voltaire
"Gold is money and nothing else." JP Morgan.
Central Banks around the world hold 75% of the worlds gold in deliverable form (bars and coins). Some how I doubt those bankers are crazy for holding so much gold.
davincij15 2 years ago
I have an extra $100K. Should I still buy, say, $20K in Gold? Im not gonna put it in a CD and otherwise Im gonna drop cash in a safe. Should I drop cash and some Gold and silver in that safe?
ChaiVat 2 years ago
Yes, do it slowly. Cost average in at a low price.
davincij15 2 years ago
"Bailouts" = admission of defeat.
America has lost, it just refuses to admit it. Sad.
Capitalism = rich support the rich + the rich delude the masses into thinking they are "middle class" with all their freely available credit + the rich winning in the end by crushing the dumbass masses who they fucking deluded in the first place.
Next?
EmpireStrikesOut 2 years ago
MONEY TO THE PEOPLE...... screw giving the bail out money to ANY Wall Street Co - Give the people the money, as they spend it it will fix economy, stop forclosures, get america out of debt, etc.
PLEASE join my protest to the Bail out and answer 1 question on camera: "How would you spend $297,000 dollars?" - That is the amount of BAIL OUT money given to the people....C'MON AMERICA, JOIN US IN TELLING THE GOV HOW WE COULD FIX THIS ECONOMY!....... The Fight Isnt Over YET!!
BAILOUTMONEY 2 years ago
i make masks.10-20 dollars. hide your face when america falls. :)
wareagle649 2 years ago
Great video. I agree with your opinions. Silver might actually work in a grocery store fairly easily. I can easily picture silver coins being used as currency. We used to use them in the past before inflation krept up on us. People would take them for cords of wood or farmers would take them for food. I'm sure that some of those great Canadian strippers that I've seen would take them but they would definately weight down their thongs.
davecros 2 years ago
hahaha who needs cash. if u really need cash u can sell ur silver on ebay and some days later u have cash
Mongodelight 3 years ago
What if you needed cash right then and couldn't wait?
bander87 2 years ago
I am now selling some items on ebay to generate cash. I will have enough cash. Some cash is needed, but more needed is the ability to survive without going to the supermarket. So the most important thing is storing food, but many more strategies like growing, collecting, drying, storing... and so many more.
Mongodelight 2 years ago
Another great video! What a dichotomy of views. Everytime Peter Schiff, Jim Rogers, or Marc Faber make this commons sense argument they are scoffed at. Macke is a trader, he makes no money by saying hey buy gold and silver. same old stuff
tg4nfl 3 years ago
it takes effort to find and mine gold its rare and all over the planet people value gold .
id say get food first you mad if you dont have stored food , then gold and a means of defence .
if you have to run from a country you will always be better off with gold or silver than some currency thats now worthless
bearsagainstevil 3 years ago
bend over baby and hope you can get a room with a view and ac at the fema camps that all we can do, 1776 was just that abd will not repeat again, we lost the might to stand up for whats right, we put a lot vids up on u-tube but that far as the todays 1776 goes, so what to do ,, bend over that all you can do.
tweedtweed333 3 years ago
ok, i'll try and explain it again. what macke is saying is that IF we reach the point where the dollar becomes valueless, we will be living in an apocalyptic world where your gold, although more valueable than paper, won't stay with you for long unless you have the beef to stop people from taking it from you. so what he means is that you should hold cash to trade. if the scenario arises we're screwed regardless of how much gold we hold. that is the way i understood it.
robhdg 3 years ago
Again can I ask you a question in that event who is more screwed the person the millions of gold or the person with millions of dollars?
Again that's like saying well forget fire insurance because you will lose the stuff you want to keep so what's the point. This kind of thinking is what cause people to commit suicide.
Could I lose my gold to theft, sure but it's not the end of the world. Just like the insurance company could go bankrupt after a fire.
davincij15 3 years ago
pre apocalypse, it's probably better and easier to hold cash. as the product of the printing press makes its way onto the market this will probably change at which point it will make sense to buy gold. post apocalypse, cash and gold are irrelevant as the economy moves into the who has the biggest guns phase. that's what i understood from mackes commentary
robhdg 3 years ago
Thanks man you made me feel better since people will be ignoring gold and looking for bigger guns I will be safe since gold will be irrelevant.
Thanks man. lol :)
davincij15 3 years ago
i never said that. i was just trying to clarify what i believe macke was trying to get across. having said that, i don't think that now is a good time to buy gold. i think now is a good time to hold onto cash. i also don't think that we're heading into apocalypse either. if we were though, gold or cash would both be irrelevant and bigger guns would probably be a lot more comforting.
robhdg 3 years ago
You finally stated your real point. You do not believe in gold until after a particular event occurs. Thus our only difference is I what those events are.
That the crux of you argument.
You want gold when it's time to get it.
Big guns do not store your wealth it only protects it. If you have none to protect what's the point of big guns?
Oh that's right to go steel from the person who has wealth stored before it was too late.
davincij15 3 years ago
you can trade a gun. you can hunt with a gun. you can defend yourself with a gun.
1samothrace77 3 years ago
I can hide the value of ten guns in my pocket with gold I can move to a more civilized area with gold and I can buy smaller 1/20 ounce of gold and its value stays the same.
Gold and silver are money. You need money to buy things you never though you would need in the future.
davincij15 3 years ago
absolutely.
williamwagener 3 years ago
1samothrace77:
a GUN is yes what u will need for protection, so on and so on. but lets get real the governemnt is going to take away ur second amendment anyways, if ur in the US like myself. but i mean if u have silver and gold at least you can buy ur food and buy ur big GUN u want :) either way u go, u need purchasing power in some way becasue a gun is not used to survive in a civilized nation. now if u plan on going to the jungle or desert to live somewhere then maybe a gun will be ur best bet
Daniyoyo 2 years ago
So assuming we both have big guns the only question we are arguing is....
At the end of the day are people buying gold and silver today, early?
:)
The truth is time will tell.
I have made my case with my videos and gold and silver are rising with the dollar all month long for the first time I have ever seen it.
So my question to you is what event will make you change your mind?
davincij15 3 years ago
i think you missunderstood macke. what he was saying was that if it gets that bad, ie the dollar loses ALL its value, gold won't save you. what he meant, and obviously he can't say it, is that IF it gets to that point, you better have some guns! that is what i understood
robhdg 3 years ago
So what you are saying is if I have millions in cash I should keep it because if it goes to zero I will be dead anyways?
Is that what you are saying?
Let me ask you this if I have that millions in gold and the dollar goes to zero, things get very bad then get better and I am some how alive, was I smart to keep my wealth in gold?
If you don't agree please explain how gold did not preserve my wealth?
davincij15 3 years ago
Comment removed
robhdg 3 years ago
and that is logical.
If you have 6 trillion dollar waiting, and people spend it over 1 year, it is 0.5 trillion per month.
If they spend it in 1 month, it is 6 trillion per month.
The second option will be more inflationary because it rises prices more. So it is not only the amount of dollars.
dontblamethemessenge 3 years ago
and i heard hyperinflation is not only the amount of money relative to the amount of products and services.
It is also related to the speed in which money changes hands.
So: mv = pq you can find on google.
If m is big (the amount of money) and v is small (velocity, everybody is hoarding cash) then pq is small.
p is price, q is quantity. wikipedia you can find it with quantity theory of money. If v becomes big, mv much bigger-----inflation
dontblamethemessenge 3 years ago
are you suggesting that you would pay those credit cards you bought metals with by selling those same metals or just saying screw em? Help me out here. Love your vids & insight. although I once felt like saying screw em on the debt too, i just couldn't feel you totally when you were saying that now knowing what these monsters have planned for these camps.
curiousjorg 3 years ago
After you purchased the metals they WILL double this year. When it does sell half and pay back the debt, if there is hyperinflation then sell a single coin and pay back ALL your debt. :)
davincij15 3 years ago
Supposedly the fema camps are, among other things, to be used for debtors who can't pay up. If the dollar becomes worthless how will people with no other currency pay those debts?
curiousjorg 3 years ago
In hyperinflation there is too much currency a empty beer bottle return value is $100 instead of $0.10
So are we going there don't know ask the world that owns $6 Trillion of US currency, if they dump it on you yes you are going there.
davincij15 3 years ago
davinci,
is there a foreign currency that you would recommend converting to? And in regards to your past remarks about going out with the credit cards to make a mad rush for your bailout, What about debtor camps? I have been advised to pay all my debts and not accrue anymore. Even before purchasing precious metals.
curiousjorg 3 years ago
There are no such things as debtors camps. Look for a documentary called "assent of money" it talks about debt default is a way of life in America, and a normal every day thing that has no real consequences accept emotional ones and social ones.
You can always renegotiate your debt.
davincij15 3 years ago
It's this simple. The gold bugs, always have, and always will be - a minority.
That minority has grown in the last two years. But it's will always be ... a minority. Heck, I own physical gold and silver and diamonds.
But it's only insurance. That's all. You don't make your entire paycheck go to your "home insurance".
Here's a little exercise. Look up PAAS, and how much they are selling in physical buillion. It's a minority of their total business. A small, small minority.
AirelonTrading 3 years ago
But the gold bugs will say "Only own gold, 100%, 80% gold and 20% silver" in a DEFLATIONARY environment. That's insane.
It's as if the Gold Bugs are becoming Milton Friedman of 1982, and they are going to be just as severely embaressed as Friedman was in 1983 when he cried Hyperinflation in 1982 as well. And Friedman was a HECK of a lot more than an economist than gold bugs.
Most people want the US Dollar to go to zero because they * hate * Americans, not because of economics.
AirelonTrading 3 years ago
Balance approach, I see nothing wrong with it. However I will keep 98% of my wealth in the currency of last resort thank you.
davincij15 3 years ago
But the facts? The facts are that the US Dollar has risen more strongly in terms of voliatity in the last 4 months, than it EVER has in it's ENTIRE lifetime. Ever.
It's higher now, in terms of price, than it has been in 2 years.
"Bit it might" or "I think it will" - doesn't make you money - today, and put money on your kids plate, today.
AirelonTrading 3 years ago
True the USD is higher against other paper money. But hey I guess the few brokerages houses that have decided to denominate all transactions in gold and price everything in gold and have cash accounts in gold are just ludicrous.
They must be crazy acting like gold has ever been money before. Oh sorry that's right it was. lol :)
davincij15 3 years ago
Peter Schiff's clients - audited? Are down between 40% and 70% on their money. Even for long term investing? That's just insane. Insane. All because he positioned them for a dollar collapse. And he was wrong. Very, very, very wrong.
Google it: "Peter Schiff was wrong"
Audited statements of just how badly Peter has managed his clients money.
AirelonTrading 3 years ago
Yes, I have seen it heard it on radio shows, everywhere I turn people are putting Peter on a cross.
I guess you will not go over to his website and read his response.
Hey btw I join Peter 1 year go and only purchased gold and silver I'm up 30% (Canadian) never mind his clients that have been with him for years who are up 100x Never mind that his clients who got in early ad are still with him have not lost anything. As I have not seen any gains until I sell into items I wish to own.
davincij15 3 years ago
I think the real story, is the manipulation. What myself, as a trader sees is this (for those interested in conspiracy). Everyone is talking about hyperinflation, led by a few, very prominent folks. This is in the banks best interests. They know there won't be hyperinflation, so they want people to believe there will be hyperinflation. They then have people buy gold, and then they have folks taking the opposite side from them, so that they can short the metals into complete oblivion.
AirelonTrading 3 years ago
Your absolutely right however they do not need to short the metals to oblivion traders like you will do it for them when there is no metal to be delivered from the COMEX and they only provide liquidation only.
Then who would buy a promise to ship nothing but more cash?
davincij15 3 years ago
So the banks makeout like bandits. The 'hyperinflation pundits' make out like bandits, since they get to charge managerial fees, despite the losses of their funds. So they have their money.
AirelonTrading 3 years ago
The people who lose out, are those on the opposite side of the banks.
The rest of us are hip to this game, and saw it played in 1982 to 1983; so we know not to fall for it, and go to cash. Heck, today, even Morgan Stanley is trying to say there might be hyperinflation. That's the biggest red flag to hyperdeflation that you could possibly have. An investment bank trying to 'help out the small guy'. Yeah right.
AirelonTrading 3 years ago
You may be right of course however I have to wonder what people out side of the United states with 6 Trillion in US dollars are going to do. Keep it and take more?
Something to consider in your calculations as no one from the US showed up in davos switzerland economic form about killing the US dollar. But whatever.
davincij15 3 years ago
today ...
gold up 3.6 %
silver up 5.3 %
chena3 3 years ago
by the way those silver bars of mine seem to shine more and more everyday.
dontblamethemessenge 3 years ago
Also gold price in euros went crazy!
724 euro.
Because of course euro is a bad coin as well, and it is not a reserve coin so i think many folks on the world dump it like toxic waste.
dontblamethemessenge 3 years ago
Make sure you look into gold that CAN'T be recalled like FDR did during his reign. Very important!!
epeterson1977 3 years ago
hey D, what would you do if you had monies in a state profit sharing account and was a year from retirement? of course, it has taken a beating at a drop of about 18% to date, so tell me what YOU do.
Guiatuss 3 years ago
I would be 80% gold 20% silver and nothing else each year as the gold reached a new high sell some to have 6 months of cash for expenses but I would not leave it in a bank unless I knew for sure the bank did not loan money to people did could not pay it back.
At this point if I was retiring that's what I would do. Gold is the only asset that will not go to ZERO.
Also I suggest you listen to this show...
watch?v=xEy8IBTJnGs
davincij15 3 years ago
Here is why...
After this year gold will never be in the 900s or 3 digits again.
davincij15 3 years ago
you canadians and yanks are lucky, in the uk its almost near to impossible to get hold off silver bullion bars, banks don't sell it and the only option is coin shops and in the whole of london i only found 1, we don't have no commex, apex who deliver, the only few companies that deliver charge over 100 pounds over the spot price ebay is alot cheaper then them
ramp31 3 years ago
"Gold in the hands of the people is the enemy of the state." - Hitler
That statement remains true today as the government can't print money if the masses have gold as money.
davincij15 3 years ago
did you check online?Look up Peter Schiff or other resources that sell it online.
epeterson1977 3 years ago
Notice - Another order shipped!
Apmex Order XXXXXXXXX Shipped!
Silver American Eagles - $14.95 each
Delivery scheduled for 02/03/09
Boy Scout Motto - Be Prepared
BeenInACaveWayToLong 3 years ago
Nice!
davincij15 3 years ago
hey davincij, you still betting on a drop in silver or you think its up from here on out? still waiting to max out that plastic or have u taken the plunge?
zoroastres2 3 years ago
Still waiting looks like we will be waiting forever.
davincij15 3 years ago
silver is just not moving that much compared to gold
ramp31 3 years ago
I didn't purchase my silver for the near-term move. It's for the long-haul. I can't be discouraged by the day-to-day volatility as it compares with gold.
BeenInACaveWayToLong 3 years ago
regret buying silver wish i put my money into the yellow metal
ramp31 3 years ago
What are you talking about if you purchased silver when I told you to you are up more than gold? Also you are up nothing until you sell are you going to sell now? How about next week? Then you have made nothing.
davincij15 3 years ago
gold 923..
comex 45 minutes
be nice if gold crossed 930 resistance
and coiled up all weekend ..
then spring forward monday ..
just a thought ..
woof ...
chena3 3 years ago
well at least a good rise gives a buffer.
You never know, it could also go quickly lower. But does not matter, bought it long time ago already, still a big buffer..
dontblamethemessenge 3 years ago
morming davincji..
gold just blasted up 20 in a few hrs 919.
silver also strong up 12.51
a few hrs till comex opens
might get a friday play
come on 930 ....gold
woof ..
chena3 3 years ago
maybe its the hedgefunds who now really understand that they have to earn money for their clients and not lose money.
dontblamethemessenge 3 years ago
Well, he we are. A fourth day where gold and the dollar have moved in concert. Gold outperformed the dollar considerebly, but if you were short everything and long BOTH the dollar and gold today you did very well. What does this mean? Who'd of thunk that gold would move up with the dollar? Or is it that the dollar is moving up with gold?
mongobobo 3 years ago
You need dollars to buy gold.
davincij15 3 years ago
Or Yen, Sterling, Euros, etc. etc. etc.
mongobobo 3 years ago
You must convert your yen, sterling, euros etc to buy gold. The US dollar is the world reserve currency, that means all commodities are priced in US dollars and must transacted in US dollars on any exchange.
Even here in Canada when I go to my banks I must buy USD before I buy gold.
davincij15 3 years ago
BTW: This is the reason people outside of the United States hold US dollars.
davincij15 3 years ago
That is very interesting. I did not know that.
Thanks
mongobobo 3 years ago
This is why 6 trillion US dollars exist outside of the united states, if this was any other country they would have had hyperinflation long ago.
That is 6 trillion reasons why you need to get out of the US dollar.
davincij15 3 years ago
Anybody noticing how when the DJI moves down, PM's move up? This wasn't the case in the latter part of 2008. Dow is currently -177, and Gold is pushing 910 USD oz. Silver is up also.
demensha23 3 years ago
I now heard that some hedgefunds were interested in gold.
And when those kind of companies step into something, it is not for making losses.
dontblamethemessenge 3 years ago
great video!!
delicflower 3 years ago
Maybe the US citizens better send their houskeys to the bank and leave their house.
Because the ING bank will be backed up by that moronic Dutch minister of finance Wouter Bos. He will pay for 80 percent i think of that defaulting mortgages. ING bought a lot of that mortgage packages in the US.
Everybody should let ING fail, but not the "man of the year" Wouter Bos (really people voted him man of the year, need i say more about the intellectual qualities of the people around here?).
dontblamethemessenge 3 years ago
I just called the Perth Mint - they are out of smaller grams of Gold - minimum size 50grams.
31grams in 1ounce.
They do have ounce ingots but no the minted smaller shapes under 50grams!
dojufitz 3 years ago
davincij15: QUESTION:
If I have 150,000 in USD in a retirement account, and they devalue it overnite, what will it be worth the next day?
VERY interested in the answer...
Thanks,
Tina
tinafiedler1 3 years ago
Tina
you do not want to hold alot of US dollars -for your retirement.
Anyone in US dollars is going to be burnt soon - get advice on how to get your hands on that money and convert it to bullion.
i would convert at least 1\3 into Gold and Silver.
dojufitz 3 years ago
dojufitz:
Thanks
tinafiedler1 3 years ago
devalue it by how much? If the total USD in existance around the world is $10trillion USD and they print another $10trillion USD, then you lost 50%
4rcane 3 years ago
my example is simplistic and also very conservative. In reality, if the money supply is doubled by central bank, you could see it get expanded at least 9 times more by other banks because of the fractional reserve nature of banking. 9x$10 trillion = $90 trillion + $10 trillion in existance = $100 trillion in whole economy. Thus from $10trillion to $100 trllion means your $1 dollar been devalued by 10 times = 10 cents
4rcane 3 years ago
Tina, each day you stay in USD you are in danger of seeing you dollar value reduce over night. Even today you can go to the grocery store and see it happening. The dollar is only as good as what it can buy.
Call someone like a broker at Euro Pacific capital even if you don't invest with them they will give you good advice.
davincij15 3 years ago
You are pretty right. There will be not time left when the run starts. And it is also questionable if then any hard assets are available at all. It looks to me that if something like a crash happes you only have what you have collected before. Its too late for a squirrel to find nuts when the snow falls over night ...
qminusis 3 years ago
you might be interested in the visit of Ron Paul to the mises institute on 26 january. He gives a long lecture.
You can listen on the mises institute website.
dontblamethemessenge 3 years ago
different suppliers have different qualities of gold/silver bars. Setting up a standard based on a still monetary trading unit is not the best alternative for doom and gloomers. If it all goes to hell, buy a fishing rod, guns and bullets, some body armor and a fuck load of cocaine to go out in style.
democracyisdead 3 years ago
It looks that the Baltic dry index has passed a minimum.
There is a small going up number.
That might be a positive indication for the economic situation.
dontblamethemessenge 3 years ago
dontblamethemessenge:
Are you saying that the Baltic Dry Index has gone up? I know that the BDI is for the world, I wonder what the BDI is just for the US?
tinafiedler1 3 years ago
Apmex "Order Shipped!"
Silver Rounds - Buffalos
Ordered: 12/29/08 - $12.46 each
Shipped: 1/28/09
Should arrive tomorrow!
Boy Scout Motto: Be Prepared
BeenInACaveWayToLong 3 years ago
Comment removed
pageturning 3 years ago
I see my gold and silver investment as follows:
buy and keep it.
Buy more when it is cheaper and keep it.
Do not sell it anytime in the next times, maybe something like a few years.
dontblamethemessenge 3 years ago
Loading one's credit card with debt to buy gold and silver is not a safe idea... If hyperinflation happens, your credit card debt will also be charged at million or billion percent interest... Best strategy is to make sure you have no or least possible debt and convert 20% of yours savings to gold/silver bullion/coins, 20% in large/medium cap gold mining stocks, 20% in a basket of large cap resource company stocks and rest 40% in plain cash; cut living expenses to the least and save as much...
me98321 3 years ago
buy a tent
flippinrawks 3 years ago
Thanks from Las Vegas!!!!!!!!
People need to listen and make smart investments for their future!!!
Keep'em comming D
elviswasaspy 3 years ago
I think i'm going to get some gold now after we see a slight pull back in prices after the bond bubble pops.
Already loaded the boat with silver.
formulaprimer 3 years ago
i don't think its going to go down, think we might see violent moves upwards like 400-500 in a day, and for thoes who say its not possible look at rhodium that metal can swing $600 in a day so it is a potential scenario. pluss right now gold is a damn good deal, so the question is do you wana risk and starve your self to death a year from now ?
ramp31 3 years ago
keep up the good work davinci
bubbalouiex 3 years ago
What fool would try to exchange gold dust for a loaf of bread? Does this guy think we're fools? If not, don't talk to us like we're fools.
If I needed cash, I would sell my gold to a gold dealer, bullion dealer, bank etc., and use cash to pay for the bread. Dang. This ain't rocket science.
JRCrowley 3 years ago
No in the U.S. they no longer issue $1000,or $500 dollar bills.
ngonea 3 years ago
You are speaking the truth. Thanks.
coultrane 3 years ago
I'm treating this evolution as preparation for the 'storm of the century'.
I have a mix, thanks to wise advice from guys like you and a decade ago by a family member.
I own mining stocks, pm's and keep cash on hand and some in the bank. And nothing, not food, water, guns, pm's...anything of value is stored in one place.
My next investment will be German Shepard's.
Frequencitee 3 years ago
Davinc,
did you know this year Sept 26th ends the Central Banks Gold Agreement?
CBGA was signed in 2004 and limited sales to a maximum of 500 tonnes per year over five years (2,500 tonnes over the length of the agreement).
Now after this date these central banks may not wish to sell any Gold in these times as currency devaluation sweeps the globe in an effort to fight asset deflation and recession.
So gold will become much more desirable as a reserve asset worth owning (not selling).
dojufitz 3 years ago
did not know that I thought it ended this year not last year.
davincij15 3 years ago
Yes the agreement ends Sep 26 2009.
dojufitz 3 years ago
dojufitz:
what agreement ends Sep 26 2009?
tinafiedler1 3 years ago
Central Bank Gold Agreement ends Sept 26 2009.
dojufitz 3 years ago
Central banks agreed to sell a % of gold to help keep the price down.
davincij15 3 years ago
After the revolutionary war the continental dollar became worthless. We went on a gold-silver standard but didn't have any mine production to supply it. So for many years we used metal currencies from other counties alongside ours. Tobacco, whiskey, and tea were also used as currencies.
The point is that people adapt. They will always seek out a form of money to supliment and ultimately replace a barter system, but it is very doubtfull they would replace one worthless fiat with another.
frgtmygld 3 years ago
It's true that the bartering system is not sustainable. After all, it's a rather difficult system because things could have different values to different people. A currency can really be anything at all. I read somewhere that the people in the Weimar Republic used American cigarettes as a sort of replacement currency.
hamsterama 3 years ago
Hamsterama,
I think that happened in post ww2 Germany, but it did happen. In any case your point is well taken.
Speaking of war, you've reminded me of something. I've heard that our military pilots flying in war zones were given, among other survival items, gold coins.
Not to use in pay phones. Not as emergency screwdrivers. They were issued because they would have value in trade with indigenous people no matter where a pilot might be shot down. They also issued a pistol, to back it up
frgtmygld 3 years ago
Lol u think people with gold and silver are gona stay in a barter nation plz, get your heads out of your asses there has to be 1 country in the world were the nations currency has held and were ever that is gold and silver will be damn high and thoes that immigrate there will be well off, dont know about you guys but i'm out of this place when shit hits the fan and believe me its gona be a messy shit
ramp31 3 years ago
Colonel Klink knows what he's talking about.
TadRapidly 3 years ago
Great response. People have to turn the tv off. Invest in things that are real. Gold is held by the central banks for a reason. It is real money that has stood the test of time while every paper currency (except the current 38 year old ones) has ended with a value of zero. Gold with its 5000 year monetary history or fiat? Is it really that difficult to see where to store one's wealth when the paper funny money is engaged in its voodoo economics death dance?
mr1fed 3 years ago
"Good Luck!" I love it davincij15
zappos49 3 years ago
He was talking about the Dutch banks with highest interest rates on savings acounts.
dontblamethemessenge 3 years ago
The guy is wrong because what happens is people will cut the gold or silver into small pieces - grams (in an inflation nightmare) and convert it at a bullion store into useless cash and THEN go buy your food at a supermarket or store.
You wouldn't present Gold or Silver at the store!
It would all be done with SMALL quantities of metal for food.
dojufitz 3 years ago
And about eurocomissionary "Kroes" who is very silent now but should be talking about those bailouts:
" I think she is locked in a toilet and they threw away the key ".
Those bailouts are in fact illegal and should be condemned by Kroes of course.
dontblamethemessenge 3 years ago
In the Netherlands Bert Bruggink, the topman of Rabobank
says that a lot of banks will get broke (we new that) and the dollar will collapse inevitably.
"Recovery of the economy might starter maybe in 2011"
Rabobank is about the only bank that does not use bailout money (and is also not on the stock market).
dontblamethemessenge 3 years ago
"and people with savings will be crushed"
dontblamethemessenge 3 years ago
And:
"A Depression is impossible in the old sense of the word. If one describes a depression as the loss of purchasing power of the wage earner (a correct definition), then we have been in one for the past 50 years since wages have not kept up with the cost of living. But since everyone is thinking breadlines and the 1930's, I will stay with that picture for our definition. It is not going to happen. "
But he is really positive for gold and silver, ik like to hear this!
dontblamethemessenge 3 years ago
He thinks so because he is looking at the price of copper delivery in 2009 and 2010 which are quite high according to him. And copper is the best thermometer because it is used in building houses and so on.
"
dontblamethemessenge 3 years ago
Interesting article which make me more positive to the future:
"
Relax: There Will Be No Depression - gold and silver will outperform
LA-based gold commentator Kenneth J. Gerbino tells us why he feels there won't be a depression but we will be faced with inflation, and markets in general, and bonds in particular, will prove to be bad buys, while gold and silver will perform best of all.
"
So if you buy gold and silver, and mining stocks of those two guys... (mineweb(dot)com). Hope he is right.
dontblamethemessenge 3 years ago
If one buys land here you will be sorry.
A lot of rules apply to "your property" because one has to pay all kind of taxes on owning the land, for example a new rule here is that you have to pay for some other government official to draw a map of the tubings (gas, water maybe) that go through your land.
That can cost thousands of euros, and you have to pay.
So better don't have land here.
dontblamethemessenge 3 years ago
Agree. A balanced approach is sensible.
InTheSticks1881 3 years ago
Cash is worth less than the paper it's printed on.
lachulablanca 3 years ago
Real money will be in the form of food and seeds to grow food in a worst case senerio.You can't eat gold.
lachulablanca 3 years ago
There will be 2 sectors - cash and barter.
Barter will be bigger but you will be able to get cash - Russia went thru this.
Gold and Silver in very small quantites - you sell it for cash and get your needs.
dojufitz 3 years ago
You're right. Saying that investing in gold is stupid because shops don't take gold is like saying that investing in Japanese yen is stupid because shops don't take Japanese yen. Over the past few months, the exchange rate went from being 107 yen = 1 USD to 89 yen = 1 USD. If you need dollars, just exchange them back, little by little, as you need them. Same with gold.
Rationalific 3 years ago
Great vid davincij15! Keep up the great work!
SolitonPL 3 years ago
it is good to have a balanced approach to your wealth reserves. i personally think inflation is a real danger in the future so it would not make sense to have much cash on hand but definitely enough in the short game. long haul though commodity metals are going to be ideal imo. also, there is always a need for your basic necessities if you cant afford metals and all hell breaks loose- you can't eat/drink gold.
it was good to hear you expanding on the macke interview - good food for thought.
stshell 3 years ago
Amen!!!!!!!!!!!........Right on my friend!
gete0 3 years ago
Hold enough cash to be liquid for a couple of years....That is, money to pay your bills, taxes, insurance, mortgage, car payment. Anything beyond that get Gold/Silver/Oil/Agriculture......Just my opinion......you have to keep some cash even though everyone knows the value is going to sink.
rangeyer 3 years ago
you know, i have to say precious metals are of course a safe bet right now (i really like how platinum looks, although its not discussed much) but if you're looking for something else to invest your money in- open a forex account. with all the dips and jumps in currency exchange rates, it can pay off very quickly just basing investments on indicators. if the goals of the banking elite are met, currencies will be standardized and eventually you wont be able to trade forex so use it while u can
haychex 3 years ago
the dow was worth 9 oz gold today
maybe 8 next month ..
gold 1000...dow 8000
or
gold 900 ....dow 7200
or
gold 800.....dow 6400
fun with numbers
woof..
load it up guys
chena3 3 years ago