COMEX Default on Gold or Silver

The question that I have is if the dollar is going to collapse permanently this time, and silver goes up to $2000/ounce, would you want to cash it in for said profit? I believe that there is going to be a final fall of the dollar that will never recover and a new monetary system will be set up when the right people take the country back. You might say to yourself, " Wow, I sold my $100 worth of silver for $20,000. I made a huge profit!" But now you are still stuck with dollars-useless paper.

That is true however, the reason you sold it for $20,000 is because the money is worthless and most people are poor because they saved in paper money.

Thus we will see a deflation of prices when priced in gold and silver.

You see I don't want silver and gold for dollars, I want it for what it will buy. And will buy a lot in North America once the dollar collapses because people will be sell stuff and fire sale prices just to eat.

I guess what I am saying is that if you take advantage of a peak in silver prices, since timing is everything in terms of buying and selling commodities, you want to sell it before it drops again to get the most profit out of it. But when you sell it, you get dollars in return. Do you recommend just exchanging that value out for gold? And if you do, will you still have to pay taxes on it if you exchange it for gold instead of dollars?

Yes, it is true you will pay taxes if you accept dollars for your gold. But legal tender coins traded for goods and services do not.

The problem is all money originate from debt so someone some where will need dollars to pay debt.

I understand how you look at it, you see the Walmart or some shopping center is not going to take you gold or silver coin.

TRUE

They are the biggest debtors. However your mom and pop shop may not be in debt and they are the ones you should support.

I remember watching this video in 2008 and have followed the Comex market ever since.

You shined the light on this for me and I am thankful. Keep up the great work!!!

12 months later and still no default.

Actually the default did happen on Dec 31 2008. As of that date you are no longer able to receive delivery on mini contracts on gold.

And silver now has mini contracts that affect the price but you can not take delivery. So is that a default if you can't get what you purchase but you can get the cash? lol

> Who knows, but in a world where the dollar goes to zero
> (save the heating value), I know the lead bullets in my
> gun will be worth a lot more than any gold or silver.

You really don't have a clue what it's like to lived in a country after a collapse. It's just as easy for a little old lady to blow your head off as it is for you to kill her.

You big mouths haven't done an ounce of research.