Exit Strategy for silver and gold

China will up the Anti
http://www.bloomberg.com/apps/news?pid=20601080&sid=aoLApmbjN47k&refe...
GLD has record holdings
http://www.reuters.com/article/usDollarRpt/idUSN2154117120090422

And you don't think it's money?

Don't think there will be hyperinflation? Look at this...
http://online.wsj.com/public/resources/documents/st_BANKMONEY_20081027.html

Category:

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• Hyper
• Hyperinflation
• inflation
• Jim
• Paul
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• harrold

[kp11]

I'm very keen on investing in Gold actual physical gold not the stocks, futures, only the stuff I can actually hold like small bars or coins. Where would I be able to sell somthing like that to get as close to the spot price. Theres plenty of people who will offer me scrap price, but where would I get the best price from.

[davincij15]

@kp11

Apmex will buy same with goldsilver web sites also banks in most countries around the world. For example all banks in Canada will buy 999 fine gold and silver bars and coins.

[decendant1776]

Stranded in the desert without food or water... after 3 days ... another dude walks up with a gallon of water and a brick of gold. Which has more value to you now... the water or the gold? Yeah, gold is money. But when the chit hits da fan... food and water will be worth more to MOST people who are starving. Those people who can afford to store gold NOW will most likely be storing food & water as well. CAN I GET AN AMEN?

[davincij15]

@decendant1776

Value depends on context. If there is international trade and communications then gold and silver a has value in that context if you think that will all go away then it will have very little value but will still have some value where as a currency would have NONE.

With that said we have had over 2000 years of international trade even without technologies and in all that time gold and silver where and still are money.

[davincij15]

@decendant1776

Thus your real problem is you don't know what money is.

It's a tool.

What's it a tool for?

It's a tool for storing wealth after you have worked hard to produce it this tool stores it so you do not have to work hard when you need to use it.

How do you know it will work?

Well, how do you know something is poison and something else is not? Historic examples of always being poison and always being food. :)

BASIC!

[MrMaxTruth]

Gold is fine as long as people are prepared to give it value. If you need to use it to buy food where on Gods earth are you going to take it that will give you food in return for gold. Last i checked Walmart dont take gold.The average man on the street has no idea what gold is worth. And even if he did, whats he going to do with it . He cant eat it?

If you want to survive the coming global collapse you need - God, Guns and foodstuffs/seed.

[davincij15]

@MrMaxTruth

He can't eat any other financial asset yet he collects digital dollars as payment.

Gold is money hard money unlike digital or paper money.

Every man needs tools right? It helps accomplish a particular task a lot better than without a tool?

The tool of money accomplishes the easy storage of wealth to be used at a later date. 6000 years of historical trial and error has proved gold and silver to be the best tool for that particular task.

[AEKARA27]

when not if silver goes to 500 dollars per ounce believe me you would not want to sell it. Because that that dollar price it means we, as a country are in HUGE trouble and everyone one knows it. You want to trade your silver for something concrete like land, or other commodity and that is when you silver will be soooo valuable. Why? Because it would probably be the only money, along with gold people would trust.

[orangedac]

it annoys me greatly when some idiot at the Federal Reserve talks about the need for promoting inflation. By doing so, they steal from people who have sacrified to save their money.

Most of such people have been away from real work for too long. Their job consists of fiddiling around with interest rates and giving worthless speaches while destroying the fruits of other people's labor through bullsh*t policies.

[masterpatric07]

RON PAUL @)!@ bring on the gold standard!

[grandmahurliman]

@MrMaxTruth they are using gold in Zimbabwe to buy food, etc....

[coolhandjackman]

This video gets to the issue. The Buy/Sell spread on Kitco for gold is about 5% and for silver 8.5%. So against the paper dollar you lose this immediately. The loss of value due to inflation of the paper dollar is much larger over even months and has been accelerating for the last decade. The cost to hold gold and silver in some countries includes taxes. Still even in this corrupt system gold and silver win.

[schmittchen72]

I would have to agree %100. Silver can't be taxed if it is not in the system. may be there are more people who own silver and are not saying anything to Uncle Sam. If the price goes back down to $2 an ounce buy more!

[KeshaIsHot808]

rounds or bars?