about buying gold
#11
(09-17-2012, 04:24 PM)Rosarium Wrote:
(09-17-2012, 04:16 PM)rbjmartin Wrote: . All that's left is gold. Gold is money. Just ask the Russians, the Chinese, and the Indians.
Then why do people sell it for dollars?

Read this thread before doling out financial advice:

http://catholicforum.fisheaters.com/inde...013.0.html
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#12
(09-17-2012, 05:44 PM)ggreg Wrote: Gold will very likely be confiscated.  Your neighbours and "friends" will probably grass you up to the Feds.  In short, if you buy anything like that don't tell anyone.

This is a good point. Which is why I advise vaulting offshore, but even that isn't a perfect solution.

If you are concerned about wealth preservation, then I think you should own some gold. However, I highly doubt many people on this message board have real "wealth" to preserve.

Now if you're looking for an asset which will be convertible with goods in currency crisis scenario, then I definitely think you should own some silver. Buy a little every month. You're not doing it to get rich, but to protect yourself.

I also agree with ggreg about making stuff that people will want (like alcohol and tobacco products). Too bad marijuana is illegal.
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#13
When the balloon goes up, everything will be illegal. As they used to say in the USSR, everything that is not permitted is forbidden. I think cannabis will be the least of the regime's worries. Me, I'm going full auto.
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#14
(09-17-2012, 06:18 PM)rbjmartin Wrote:
(09-17-2012, 05:44 PM)ggreg Wrote: Gold will very likely be confiscated.  Your neighbours and "friends" will probably grass you up to the Feds.  In short, if you buy anything like that don't tell anyone.

This is a good point. Which is why I advise vaulting offshore, but even that isn't a perfect solution.

If you are concerned about wealth preservation, then I think you should own some gold. However, I highly doubt many people on this message board have real "wealth" to preserve.

Now if you're looking for an asset which will be convertible with goods in currency crisis scenario, then I definitely think you should own some silver. Buy a little every month. You're not doing it to get rich, but to protect yourself.

I also agree with ggreg about making stuff that people will want (like alcohol and tobacco products). Too bad marijuana is illegal.

More people smoke tobacco than dope plus you smoke dope by mixing it with tobacco
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#15
The confiscation of gold talk is silly.  Gold coins are hard to trace and easy to hide.  If they became illegal, their black market value would soar and you really made a great investment then!  Also, gold is easily convertible into jewellery, and what will the government do, confiscate everyone's jewellery?  Good luck with that. 

Paper products on stock exchanges may be halted, but physical bullion or coins in your hand is... as good as gold. 
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#16
(09-18-2012, 03:37 PM)PeterII Wrote: The confiscation of gold talk is silly.  Gold coins are hard to trace and easy to hide.  If they became illegal, their black market value would soar and you really made a great investment then!  Also, gold is easily convertible into jewellery, and what will the government do, confiscate everyone's jewellery?  Good luck with that. 

Paper products on stock exchanges may be halted, but physical bullion or coins in your hand is... as good as gold. 

No, it isn't. The Gold Reserve Act was not a simple "you shall not own gold!", but a little more involved and more effective than you think.

It would force people to sell the gold other than jewelry and some other cosmetic/collector applications or risk criminal charges. That is to say, one who had gold could get legal value out of it, by selling it to the government.

Gold is not easily convertible to jewelry.
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#17
(09-17-2012, 05:56 PM)Habitual_Ritual Wrote:
(09-17-2012, 04:24 PM)Rosarium Wrote:
(09-17-2012, 04:16 PM)rbjmartin Wrote: . All that's left is gold. Gold is money. Just ask the Russians, the Chinese, and the Indians.
Then why do people sell it for dollars?

Read this thread before doling out financial advice:

http://catholicforum.fisheaters.com/inde...013.0.html

It is not financial advice, but spiritual advice.

God, in this context, is for investment and as a store of value.

Luke 12:32-34 Wrote:Fear not, little flock, for it hath pleased your Father to give you a kingdom.  Sell what you possess and give alms. Make to yourselves bags which grow not old, a treasure in heaven which faileth not: where no thief approacheth, nor moth corrupteth.  For where your treasure is, there will your heart be also.

The temporal concerns are lower than the spiritual, but humans have a tendency, including all of us, to have it backwards. When things get tough, we tend to focus on the physical first.
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#18

You may want to drill a hole in the bar and see what's in the middle before purchasing.

Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District

Good article and interesting video is available for viewing.

It's not a youtube, so I can't post it in thread.
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#19
(09-19-2012, 08:06 PM)Adam Wayne Wrote: You may want to drill a hole in the bar and see what's in the middle before purchasing.

Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District

Good article and interesting video is available for viewing.

It's not a youtube, so I can't post it in thread.

Can you start putting holes into other people's things before buying?
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#20
(09-19-2012, 08:16 PM)Rosarium Wrote:
(09-19-2012, 08:06 PM)Adam Wayne Wrote: You may want to drill a hole in the bar and see what's in the middle before purchasing.

Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District

Good article and interesting video is available for viewing.

It's not a youtube, so I can't post it in thread.

Can you start putting holes into other people's things before buying?

What the hell is that supposed to mean? Of course. Pirates and people hip to the debasing of the coin of the realm used to bite on gold pieces. Heroin dealers have a chemist on hand to test large buys.

I suppose you can X-ray the bars.

I thought it was an interesting story. Apparently I have a contrarian on hand.

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