I am sorry if this bothers some but I have read too many blogs on here about silver going to $100-$1000. All these commodities will do for you is let you maintain your purchasing power and that about does it. The dollar will fall but the way I see it will still be around when all is said and done. We will probably see a worldwide debt restructuring and things will get even worse when it comes to government control but in the end things will still be the same. We may see a new world currency that will be traded between nations while countries maintain their severing currency at pre negotiated levels and printing will be controlled by a world federal bank. Eventually all world currency will become the same as people will choose to hold the higher valued world currency and then we will eventually go into digital currency because the world government will be able to tax and take a lot easier. I mean what a better way to control every bit of someone’s life than to control their wealth. I do see us going back to a partially backed gold currency but in my opinion it will still be a sham. Gold and silver will be confiscated when the restructuring comes and you will be given xxx per oz or either the new world currency or the local government currency. It’s not like they are going to let us gain too much wealth for being responsible with our finances. The currency may look different as it will be reevaluated but almost the same. They Euro may break up and those nations may go back to their own currency. I think this is why the new U.S. 100 dollar bills have so much gold on them and why they have delayed them from coming out. You can bury your gold/silver or trade it inn that is up to you but from what I have seen and knowing how the game is played they will want to take things slow and steady. The last thing they will want is to push too far too fast as it will cause a worldwide panic and could lead to huge revolutions. I know what is going on now in Greece is a revolution but from seeing people act they will calm down just like all the sheep normally do when you tell them that we have a new currency and spin it as a good for you idea. Most people are so dumb that they will just go with it and we will start a new cycle of monetary policy for another 30-50 years. In the end things will be the same but we will have to go through another 2-5 years of pain before we get there. Keep stacking but don’t blow your load on it. Remember to keep enough cash on hand so you are not forced to sell at lower prices to make ends meet and don’t bother with the day to day price movements as they are only going to show what is needed to shake you out. Once this all plays out you can trade in some or all of your physical when the debt gets restructured. Remember to do what you have to do to protect yourself from layoffs, inflation, stagflation or deflation as all of these could hit. If I had to guess we are already seeing stagflation mixed with deflation just depends on what you are looking at but can say with 99% certainty that inflation/hyperinflation will be upon us shortly. Good luck to all as we will need it and remember that this is just my opinion and it could just as easily play out another way. Do your homework but don’t stress the ups and downs. I would say the most this will give us is silver at 75-125 and gold at 2500-3500. Yes they are worth more but governments will take control before they let the real value show. Can’t wake up all the sheep after all who else will follow these morons blindly.
Rich is a relative term. A man with 100 grass huts is richer than the man with 1 grass hut, and yet both men would be poor compared to a man in a trailer.
If currencies are devauled into oblivion, those with precious metals will become very rich as they preserve their existing wealth while everyone else loses their wealth and becomes very poor.
Therefore, precious metals will make you rich.
As for your other arguments that the government will step in and take away all of our gold/silver: that is just speculation of how tyrannical our governemnt will become. It is tantamont to taking away people's money for no good reason. And if the government became so depirate to perform such an act, you can be sure people will resist losing their most valuable assets.
Yes they will.
Can you give us a little bio on yourself so we can determine if we want to follow you as our leader. We are not going to follow an anonymous leader. I am asking this with all due respect for you. a little bio will help you to get converts to your side.
It would help your reader if you broke your post up into a series of paragraphs. This is a bit tiresome to read the way it is formatted.
Your observations are quite astute, and it's quite consistent with what I myself have been thinking for some time. On other boards I have gotten into nasty discussion with those who cheer for $500 to $1000 silver, believing they'll be incredibly "rich" when that happens. My reply is typically: "How rich will you really be when a loaf of bread also costs $50 to $100?"
In that environment what many seem to overlook also is that with a devalued currency the masses will be looking for someone to blame. To save their own heads the government will offer up "precious metals speculators" as the culprits who brought down the economic system. To remedy the sins of the speculators the government will then suggest confiscating the metals, and since 99% of the sheeple won't own PMs they'll happily support the legislation.
If you think such a scenario is ridiculous just take a look at Venezuela where the currency has been devalued and wage & price controls have been implemented to hold down the prices of bread and milk. The government is seen as heroes for keeping prices low, when all they're doing is bankrupting the producers of milk and bread by forcing them to accept prices far below their actual inflationary costs. If these producers attempt to "illegally" raise their prices they are charged as criminals for their "greed", and their facilities are nationalized to be run by the government instead.
@samseau you are correct in saying that rich is a relative word which is why I said it. There is no way I can say what your views or rich are. Yes precious metals can make you rich but in relations to numbers and not value when other items are raised in price along with gold/silver.
“if the government became so depirate to perform such an act, you can be sure people will resist losing their most valuable assets”
That is funny. Seeing what I see everyday show different.
@Sterling Should have done that but was in a rush and just tossed this up.
@SilverTree only time will tell but I don’t think so. Hope you are right though.
@Dr Durden only you can define it as my definition will be different than yours. Just depends on where you are now. If everything were to stay the same in price but gold and silver you will gain wealth. If everything that you use on a day to day basis goes up along with gold/silver you have gained nothing but hedged against the devaluing of currency.
@Sockeye I could but don’t want to lead anyone especially when you can’t see my actions. Words can be written easily but actions require work. Therefore I would not want to lead someone that does not see my actions.
@John Galt Its nice to see that I am not the only one that thinks this is a winning loto ticket.
@John Galt Its nice to see that I am not the only one that does not think this is a winning loto ticket
The OP presupposes that PMs are marked to market now. I guess technically they are but historically are they? Nothing is in a vacuum but are food prices aware there is a 100:1 paper to physical ratio? Can the silver price correct to reflect actual supply/demand without disrupting food supply? I know gold can because it's not used for anything necessary. Silver is debateable but my point is that $1000 silver equaling $100 bread assumes all things being equal today and they are not.
"The OP presupposes that PMs are marked to market now"
Far from it and I know they are not but as stated in the last two lines I believe the governments around the world will put an end to it before that is discovered. If they were marked to market now we could be over 100 now. Only reason we are not in my opinion is because of cme rules and tricks. Also looking at historical food prices they are well below historical avg when looking at them in inflation adjusted prices so there is room there too but not like silver.
Silver does not require hyperinflation to reach a a surprisingly high price in dollars. Would you honestly argue that those who have held silver haven't ALREADY become rich over the last ten years? This is merely an effect of supply and demand finally being applied to the physical portion of a fake paper market. With something like gold, you COULD make the same argument you are making here, but even that doesn't hold up.
As to gold, you have to understand that the price of money will not rise in a linear manner. Rather, it will reach a critical mass where there is a sudden, violent increase in its purchasing power--a result of everyone pouring all of their purchasing power into gold. Owning gold early is a lot like being the Federal Reserve today. You just hold the gold, or print the money, and let other people do the work of increasing or maintaining its purchasing power.
Like I keep telling the Mrs every time she sees a new Priority Mail box come through the door; "darlin', with all this metal, it could very well be that in the not too distant future, we'll be in the minority of people we know who actually "have money."
So in this sense, the future "rich" will be those that sought protection now by anchoring down will still be standing as the tide drags the rest of the ill prepared out after the tsunami.
This cannot and will not end well. Learn to swim [or] see you down in Arizona bay.
so where do you think the Russians/Chinese who are very aggressively stacking gold fit into the equation? they covet the global leadership role the US currently holds. having lost the Cold War through bankruptcy they're trying to do the same to the US. and succeeding.
the Russians/Chinese will never agree to a world currency not dominated and controlled by them
Given the suppression, they probably will make us rich. But if the worst case scenario is they only preserve our asset it is still a lock.
I don´t know where else to put my money. If everything goes down, I would think the only safe way is metals.
History sort of point in this direction.
The United States of America will retain it's Sovereign Independence, you can bank on that. As such, the people of this Nation will return her to her original founding, namely the U.S. Constitution. It is already happening. The push back against the tyrannical tide for the last 100 years is just beginning in earnest and will continue and continue and continue till we have found our way back to our Founders founding. This journey may take a few years or it may be quick, but make no mistake about it, it will indeed happen. Why is this important with concerns to Silver and Gold and the future of these precious metals? Because the foundations of our Freedom our found in our money. It's right there in Section 10: No State..............make any Thing but gold and silver Coin a Tender in Payment of Debts. This drift back to this bedrock principle in our Founding can already be seen - Hat Tip to the great State of Utah!!! There is pending legislation in other States as well.
Silver and Gold will be immensely valuable in the coming time. Just wait and see. Forget about the tiring process of putting a value on silver or gold using a soon to be obsolete conversion table in Fiat currency. It's just a dumb exercise. Your precious metals will be converted to things, food, housing, clothing, etc. A new system will emerge. Maybe one buys a new GMC truck with 30 AES's or the purchase is made whereby the dealership receives conversion credits from your new bullion bank who received your metal in their vault and thereby accredited it to your account.
I urge everyone to stack like they have never stacked before. It is getting late. The beautiful thing is you can convert your soon to be funny money for the precious metals NOW. Either that, or you can labor for silver/gold in the future. It really is an easy choice.
I wrote above - "the foundations of our freedom our found in our money." Don't take my word for it, go read Andrew Jackson's Farewell Speech to the American people on March 4, 1837 is a must read!
Incidentally, I respect your comment about not wishing to be seen as a leader.
Ancient peoples such as the Hopi have long contended that in these changing times we should NOT be looking outside of ourselves for a leader. After all, we are now coming out of an age where we have repeatedly found folly through the blind following of others. Instead, we should be looking within, and trusting our hearts and intuition.
As the Hopi say: "Do not look outside of yourself for a leader. We are the ones we have been waiting for."
Jack & John- I have read too many posts like yours, are you trying to get us to invest in something else...what? I smell sour grapes.
I think I can discern basic economic laws. Those who have been in the PM markets for 30-40+ years, men I greatly respect all are saying in the future there will be no way for the common man to protect his finances (be at least moderately RICH) without PMs.
So I have a choice:
Believe in governments "ability" to control things and keep gold and silver price down and I myself will then hold their paper currency in honor of their "ability".
Believe that the situation is ALREADY out of control (per Jim Sinclair) and that gold and silver will be the only safe haven.
I choose the latter.
In two years, I will still owe $110K on my mortgage. That's 72 oz gold at today's prices. I believe two years from now I will be able to pay that mortgage with 36 ozs. Debt free and with gold set aside rather than cash. In my book, that is rich. You can keep your stocks and FRNs.
Why post this stuff on a silver thread, because you care about people and are trying to warn them? I'm not feeling it.
if u own any gold and/or silver....................
u r rich......................
I frequently see these posts that assume everything is contingent upon what the US gov;t wants, without regard to the rest of the world.
So you think that the US gov;t will confiscate the gold held by foreign nationals? Asia, which accounts for about half the world's population has a cultural bias for PM's. The US and the west could do what they want but ultimately the Asians will determine the price of physical.
I agree with RmanJ. I would like to see what Mr. Meoff would suggest if not PMs. BTW, there was a time when platinum was just another metal. It is now on parity with gold, due mostly to it's industrial demand. The same thing will happen to silver. Further, as others have said, inflation does not happen equally across all sectors of the economy. Silver can go to $1000 without commiserate increases in fuel or food. I also get a chuckle out of people who talk about the New World Order instating a global currency. Guess what - we already have a global currency. It's called the US dollar!