COMEX Default - 46.6% Gold 44.5% Silver Gone.
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Uploader Comments (davincij15)
All Comments (109)
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Brother you must be way up right now!
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Great video, I like to talk about Silver and Gold on my youtube channel as well.
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Wow, same time 2 years ago silver was at $9.33, now at $28. Thats 3 times, or 200% rise, not a bad investment, great video !!
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Hi Davinci
I just came across this old video of yours - very nice etc. You mention at the end, that whoever is holding your gold during a hyperinflation, that they may be tempted to just keep your gold and you'd have to sue them etc etc.
But surely (and of course it's none of my business), you are still using a "safety" deposit box in a bank for your own gold/silver.
Maybe you don't really believe they'd steal it?
Feel free to ignore me here - none of my business, obviously.
Cheers mate
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"Hyperinflation causing gold and silver to go to zero because you couldn't trade it for junk money?!?" Forget trading for paper...it would be called the underground economy and direct trade for the metal. Canada has quite a large underground economy due to outrageous taxation and tax evasion is a sport there. Look for non-cooperation to accelerate as the economy and taxation move in opposite directions with the loon currently in the White House.
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its called a bank holiday, look its been leaked to expect one in september. silver gold ammo guns and food and water and water filters collect rain water and use a filter perferibly a berkey and dont go to the fema camps remember katrina? that was their bata test when and how people will react without food and water and no skills on how to survive. and when the food and water run out in the camps expect death to follow quickly.
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that drop off is the banks selling silver and gold to monitize their losses to look healthier to people who are all clearing out there bank accounts. they need money in large amounts so they are selling off it to gold and silver brokers so the banks can have cash! so you see the increase of suply a dip and the demand buying it up completly makes the price go back to normal. basicaly a ugly fact and side effect of fractional reserve banking. people are calling in their loans and the banks defalt
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If there is a default, all these etfs that track gold and silver, like GLD, and SLV, will be worthless. They are the same as fiat currency. They are electronic blips and if the commodity isnt available its the same as an insurance policy that screws you.
30percentplusreturns 2 years ago
You got it Pontiac! Every single hyperinflation caused gold and silver to go to zero, meaning no one would trade gold and silver officially for the junk money.
davincij15 2 years ago
Yes, but nobody cared about the currency either. I can tell you how it is to buy things with cigarette packs or whiskey bottles if you want to.
The difference is that when the market comes back to normal, silver and gold will be a lot of times more expensive, while the paper money will be devalued. And by the way, people would take your gold and silver if you want to give it away.
delyshBB 2 years ago
Central banks around the world have 75% of the worlds deliverable gold in their vaults.
I guess the bankers are crazy for holding that and stupid for not holding paper money, or other commodities that have everyday use.
"Gold is money and nothing else!" JP Morgan
Take some time to read about gold and it's history if you truly want to comprehend the above statement, or remain ignorant it's your choice. There is a lot of information for something so simple as a shiny metal that does not rust.
davincij15 2 years ago
just look at germany when the price of bread went from like a million to 500 million in a month. if you would have bought silver coins before, you could have bought bread with it, but nobody would have traded the coins for money because sellers rejected the currency too.
delyshBB 2 years ago
I understand your point but there will be people that need the currency to pay debts. Thus they will sell goods in currency and will gladly accept gold and silver for those goods.
Then there are those that can borrow currency to buy the gold and silver because they know it will go up fast and cover the debt.
davincij15 2 years ago