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Eric Sprott Says Gold Is Now The World's Reserve Currency, Says Silver Was Manipulated Lower
Eric Sprott making headlines in Vegas:
- SPROTT SAYS GOLD IS NOW THE WORLD'S RESERVE CURRENCY
- SPROTT SAYS SILVER WAS `MANIPULATED' DOWN IN PRICE
- SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS
- SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD
Naturally he will be called a nutjob and a tin foil-hat wearing moron, until he is, of course, proven right, at which point the conspiracy theory becomes non-conspiracy fact.
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+ million
I couldn't say it batter.
At least in the short term gold feels dead to me. Let's face it markets are essentially forms of uncontrolled gambling. No one wants to sit and play a game where there is nothing to win or nothing to lose. I bought gold at $1350 sure I made my 10-15% but it seems have done nothing lately.
Silver on the other hand is very interesting. The physical market got beaten down and as long as there are price movements and volatility there is sure to be money.
Volatility isn't the enemy of any particular market it's a friend. When silver prices tank all the real silver bulls are loading up in a major way. In my mind it's a form of collective stupidity on the part of the "Cartel" to nuke the silver market they're simply subsidizing people who don't want to play their fiat currency game. They are making the price of silver affordable so those who have no confidence in our current system can vote no, in effect they've become enablers of their own demise.
Anyone who's played silver for more than two years has seen the value of their investment go up or down by 50%. It's just a fact of life.
Bernie Madoff is the financial system and once people realize that those that have physical silver will be far happier with their choices than the people who bought Apple or Google shares.
These systems are unstable and the idea that Bernake ,the CME or Goldman Sachs will even be around in two years to rig the market is questionable. No one knows how long a system of lies can last whether it be years,months or minutes but we all know it must end.
And when that system ends how much will your treasury's Apple shares be worth then?
"The guy is a marketing master extrodinaire!!! Gotta keep fanning those conspiracy theories lest PHYS premium to NAV collaThe guy is a marketing master extrodinaire!!! Gotta keep fanning those conspiracy theories lest PHYS premium to NAV collapsespses" Fuck Off you piece of shit govt troll. go some where else where you MAY be wanted... Your not welcome here. And take your side kick sophist dufus econopus,with you. Fucking govt troll and a Bernanke troll,either way...fuck off.
When it comes to "paper" trading think 1700's cotton trading.
Thats where we go when trust in the markets dies.
Keyboards and mouse clicks are coming to an end. Once you kill trust you can't get it back.
Players may see it as a game, but they are the only ones who do. To everyone else its real life. Once that ends it ends for good.
Flipping stocks will go the way of flipping houses.
New highs in Dow Utilities
New highs in Retail Index
New intraday lows for GDX today
Wonder how Sprott feels after looking at those three charts today.
Wonder how you feel when you were calling for 200 point down day. lulz
You were less testy and put up better pictures when you were a blonde
he lost his avatar in a bet to me. said he would change it if silver went to $40.
excellent. may i ask what you get at $50?
I dont want to know.
sprott doesn't believe in diversification. owns only silver and gold. and once again you can point to all the indices but fact reamins you own hd, vz, and mo. you're too afraid to risk your seed capital to make money. so you dream all day wishing for courage like the wizard of oz lion.
RobotShitforBrains, do you ever think and look beyond a three-day timeframe? Can you?
Once again, the officially sanctioned troll adds nothing to the conversation beyond shallow and puerile antagonism, followed by fleeing behind his mama's skirt.
Having traded silver every day when it was 1.95 in 1972, and after warning you all on this website and other web sites many times that it would be game over when comex jacks up margins. Therre was plenty of warning given,plenty of time to go short-markets go down 7 times as fast as they go up- so plenty of time to short futures (especially as a hedge against your physical)---the program was handed to you loud and clear. well in advance, so I am gladf you morons have less money to buy gasoline, and there will be less traffic on the roads this summer for my Jag to breathe and sprint.
Jags are ugly and slow. Move over to the grandma lane and stay there. Or my Chevy will eat you. :)
Vroom vroom.
Jag? Didn't TATA motors buy "Jagwire" and LandRover?
Since I haven't sold any physical metal, I still have not 'lost' any money. If you were a true PM bull, that concept would be in your DNA.
This moron did well with ZSL. Best 10 day gain i ever had in my life.
I'll second that. Jaguars are pieces of British SHIT.
If it's post 90's model you're driving an even more egregiously overpriced Ford, dude. Is the dash even Walnut these days? Or have they moved onto veneer and particle board (Walnutesque)?
I use your suckermobile as a pylon.
Look, it's great to talk about fundamentals and tech analysis on PM's do not leave out the political:
In America we can vote to change the system, but seems only preaproved by the elites get to run so voting is close to nullified.
Or we can buy PM's with FRN's taking that wealth out of the fiat system..I ask all ZH's what has the most impact voting or Storing wealth in PM's?
Don't get me wrong, I respect Mr. Sprott, he's a brilliant salesman, and today he's selling silver. It takes special effort to get people to pay 20% extra.
How ya gonna feel when gold touches 1000?
Make sure you know what to do at that level.
Cause you're going there.
Silver? who gives a shit.
It's chump change. Always will be, That's why I own lots in my core. I can throw it into my neighbours yard from my roof as the zombies circle below. So they'll go eat my neighbour cause he won't buy any and gold will be too expensive for him to throw.
Thus he becomes zombie cat food
Just sayin
WTF Mogul? You own lots of silver yet bash those who are buying now? Not very logical. And now you're a gold bear as well? I assume you have lots of that too? But why own a falling asset? You seem to like it both ways, much like Robot. And you make about as much sense as he does.
None.
Bottom line is that the silver pushers took everyone to the cleaners
Coin dealers are now going broke from buying silver at the highs to meet "rabid demand"
Website hucksters like KWN pumped and goosed up all the hedge funds and got all of them long PM's and short the dollar.
Joe Six was sucked in at the very top, while smart retail investors who bought a long time ago cashed in.
Pretty much a classic blowoff led by media hysteria, followed by the inevitable bust.
Will go down in history as one of the greatest heists of all time.
Time will tell. But, this story is only just getting started..
You literally have no idea what you are talking about.
So incredibly stupid on literally every level.
Don't blame you for being angry.
Anyone who was short consumer discretionary stocks and long mining assets was pretty much decimated and likely has very little trading capital left.
Sorry to hear that, bro....
Are you talking about me?
What's the deal, move in with long juan silver and started hitting the crack pipe?
you have no game. you're all talk. hd, vz and mo. epic widows and orphans stocks. they're utilities for all intents and purposes. sorry to hear life for you is reduced to a 600 square feet apartment overlooking a smoggy los angeles freeway.
btw: for someone who told the board you were going to be vacationing in boca raton you sure do a lot of posting. just another one of your exaggerations i suppose.
johnchard
Next time you are in L.A., ring me up.
My ragged out apartment building is full of wannabe actresses, ex-porn stars, and all kinds of strippers and escorts.
We can smoke some crack, get high, and I'll introduce you to some of my neighbors.
We can take the Metro out to Hollywood and Highland and I'll buy you a beer at that cool sports bar at the W Hotel. I know all the chicks that work that place, no problem for us to get comped for a few beers.
LOL...
Can I join your party next time I am in LA?
j/k, as the Bearing is strictly controlled by his wife. Shows you who's boss in my castle!
LOL back at ya!
You are fucking pathetic --- a total waste of space here.
I am finally going to petition Tyler to ban your worthless ass from this site. You add literally nothing here except shallow snark and puerile, antagonistic trolling.
Sound like a classy place--sort of a low-budget Charlie Sheen thing.
Ok. I'm inviting myself over.
RobotTurd, where are your charts today? Like the ones you show of SP 500 stocks that just hit a 52 wk high - and are almost trading at 1999 levels again.
A couple choice word/phrase changes and... You've effectively described the two equity crashes the last 10 years!
Keep bringin' the volatility, bitchez. Price controls are a given in a banana republic.
the biggest lie of all time is the one you tell to yourself everyday that you are a trader. you continually project your fears and inconsistencies onto other people. and you make up wild exaggerated stories that have no basis in fact. i pity new zh readers who come across your posts, and who have no clue about the complete reversals you make from day to day, morning to afternoon and even post to post.
RT: you're an expert trader, so, I have a question for you. Since you do not like gold and silver as investments, and, since, those 2 metals have had a major move to the up side, where do you believe they will settle down to? At $5, $10, $20, an ounce on silver, or $1000, $600, for gold? Where, if at all, would you be a trader in PM's? Just asking.
Silver testing the 100 dma as we speak.
Second test. If it breaks upward decisively then i am going back in for a ride to 39-40 which is now technical resistance.
Failure of support. Well. I will probably play ZSL again.
This is so exciting!
Kept my Phys. Shorted Silver in MAY, broke even :)
Wanna see the signs of a "bubble" and its inevitable collapse?
Over 2 billion shares of SLV has traded the last 3 weeks at an average price of $40.
That's $90 billion in dollar traded volume.
Annual mine production is only 740 million ounces a year.
That means 3.5x annual production at $35/oz. was "flipped" in SLV alone in just 3 weeks....
LOL....
poor robo. obsessed with silver. he's like don xuixote duelling imaginary silver dragons in the zh cyber world.
i guess the walls in the matchbox apartment are closing in on poor robo. the closer they get the bigger the silver dragons become.
Hey dude, where did you learn to spell? I went to school at L.A. Unified in the worst of the worst neighborhood. I can spell better than that!
I'm still up for a meet and greet, anytime you want. We'll knock back a few beers and chase some skanks..
if i have a word spelled wrong then i missed it in the spell check drop down menu above the comment section. i use it before i post.
afraid i'm not your type. live in texas and am married to the best looking chick in texas.
Lieutenantjohnchard probably spells a hell of a lot better than RobotLemming can trade --- presuming that the Lemming even does trade at all as he claims.
In any case, I would infinitely rather read honest if misspelled commentary here than worthless and disingenuous trolling with impeccable spelling and grammar.
Bubble or not, Just keepyour Phys., Short/Ultra short the freaking thing, and enjoy the ride, who cares, ,,,make money, be happy
Long term (even short term) gold, silver and oil are THE places to be invested as the ECB prints Billions more for the PIIGS...and Uncle Ben revs up the USA Central Bank's printing of dollars for more debt...more Bailouts...and Record Bank Bonuses again!
It's all BOOOYAAAHHHHHHHHHHHH!
Buy gold, silver and oil and Be Happy!
*sigh*
Looks like I made the 'rookie mistake' buying the once in a lifetime market top.
I don't understand since silver=money that it could crash like it has. Plus with the FED printing up all this money due the fact our economy is on CRITICAL LIFE SUPPORT and near total depression. Gold should already be over $3k and silver over $150.
I give up,
I am not smart enough to play this game. I earned about 10k working part-time this semester and put about 80% of it into silver (having to drastically scale back my lifestyle and basically not go out most weekends).
Nothing left to do but watch the world die I guess.
Nothing but hatred and distrust for the entire fuckin' human race!
http://www.youtube.com/watch?v=BwVap8x64As
Remember this: stockpile USEABLE COMMODS - ie food, ammo, water, clothing, hygenic products, booze, cigs, etc. There is a time coming soon when JiT will shut down, everyday items will become scarce, etc. No one will want your non useable shinny metal. This has been proven in other countries in the past. If your looking to make some money, hey why not invest in different things. However, when this all comes to a head, a final conclusion it is going to be beyond nasty. The world will implode.
https://www.gunsgrubandgold.com/forum
When Zimbabwe had their Hyper-Inflationary Depression, 3 billion bought 3 eggs. Stores eventually stopped accepting Zimbabwean dollars for transactions
Those with the Gold were able to survive and feed themselves.
http://www.youtube.com/watch?v=Jt15F21jpN8
Yes, but what you are forgetting is that most if not all of the tangible items coming into the country were via black market, due to global economies that still functioned. When this hits a global level JiT will shut down. There will be no deliverable commods, anywhere. People will barter, grow, whatever. Remember, currency is ONLY used when the basics of life have been satisified are are reliable as in flowing through some sort of stable commerce. Currency is the next step in wealth accural wherein all previous factors must be satisified.
You bought all at once?
Odd. Dollar cost averaging is a much better way to play this game. The fundamentals are still with you, the silver is just on sale.
Please understand that the lower the price, the lower the supply and the higher the demand. Since prices are artificially low, silver will and is disappearing, or it is decoupling from the spot price. This process won't take very long. It also puts intense pressure on the COMEX, as no-one will want to supply them at these prices either, meaning a default is more likely. When that happens, you will quickly meet and exceed your price targets there.
So cheer up. The sun can't shine every day.
I bought all my Gold @ $1060/oz.
I bought my silver @ $27/oz December 2010
I do not plan on selling any Gold.
The reason for my sense of urgency is that if I sold out of Silver now, I would about break even after factoring in the taxes.
If the bullmarket is over due to the FED getting religion, congress raising the debt ceiling and the economy continues to recover, I don't see how we can see any more significant upside.
I guess I don't really understand just how screwed we are or if it is just rhetoric. As Jim Rogers says, "NEVER in history has printing money worked and has always lead to economic disaster". Because I am a n00b and don't understand the dynamics of the capital markets it will be impossible for someone like me to time an exit.
This whole thing has held together much much longer than I would have ever thought. 100% rally in the stock markets is absolutely unprecedented which is pretty much reason enough for me to continue to sit-tight on all my metal holdings.
Good. I'm glad you didn't buy all at the top, especially if you are thinking of selling.
I wouldn't sweat it too much. Gold is good for storing wealth. Silver will store your wealth too. Just give it time.
If you HAVE to sell then you care about price if you don't then it means nothing.
You don't want to sell your silver dude. I bot quite a lot of silver at $18-20 in 2008 thinking that with $1000 gold $50 silver would come quickly. Well, they pulled the smash job and silver was under $10 and silver miners were down 90%. To say I was demoralized is an understatement. Guess what I did, I NUT UP and bot lots of 1000 oz .9999 Penoles bars and bot large lots of stocks like First Majestic Silver for $1.50. Accomplished by moving money out of mainstream dud investments and bulking up my PM positions in a big big way.
A couple years later and I am a Master of the Universe compared to my former station in life.
I can tell you're a noob, I respect that you care about this stuff being (I assume) a 20something. I couldn't have cared less about anything but poontang and grass when I was your age.
You really should keep studying the markets. You would rid yourself of foolish ideas like the Fed "getting religion." Or that there is ANY practical solution to the debt problem. There ISN'T. After you've been around a few years, you'll start to know who and what is garbage, and that will help save you time. I read lots of articles, and I have a list of people I skip right over because they are liars and/or morons. Jon Nadler for instance.
The illusion is that we are now conditioned to value metal in ECT's (Electronic Credit Ticks)
So water now flows uphill? and pressure moves from low to high?
All things eventually rebalance.
But pressure can be held at bay for a while.
Don't mistake a few speed bumps for the start of a hill.
Choose your poison ECT's or The real thing
>> I earned about 10k working part-time this semester and put about 80% of it into silver
So sit on the PHYSICAL for a couple of years. You're very young (like early 20's?) so sit tight, work and watch the world go by, take it out of the safe every so often and count it, then just consider a nice insurance policy.
I've got some from 1999 still sitting around. It's the number of ounces that count in the event of a currency collapse. And when that collapse comes (based on monetary velocity) you will have maybe 15 minutes notice AT MOST.
You are correct, however PM's will not take the place. Intially, until some form of commod stability kicks in (could be years or longer), barter, trade, etc will take precedence. Remember, on a currency collapse ALL MODES OF SHIPPING STOP, as do production, etc. Riots break out, civil unrest, etc. Its not like there is a smooth transfer between one currency and another.
You have a boyfriend. What do you need currency for?
Because no one works for free. I would rather store my labor in something that will not be inflated away into worthlessness by triggerhappy central bankers.
I was teasing you but... "Because no one works for free" Does that mean you have to pay your boyfriend to make sexy time with you?
Dont be so hard on yourself.
I had a position in gold miners that i sold at the exact bottom in 2008.
We all do things that in hindsight we regret.
Dont give up so easily. Every trader has had his ass handed to him a few times.
You are young enough to recover.
@ baby_B,
topcallingtroll is absolutely right. Do not worry re your physical purchases. You are so way ahead of almost everyone your age. Don't sell!
I have had my 55 yr old ass handed to him many times, like top mentioned.
Keep plugging away! And get out and have some fun!
I feel sorry for you, because if everything you said is true, then you have set yourself checkmate. I really do not want to add fuel to the fire at this point, and yet i want to be honest. Because of this, i'll explain in more detail how you got into this situation.
The three main mistakes you made:
1. This is the biggest one and the reason why you're check-mate: You invested money which you need in the short or midterm. Never do this! It takes away from you one of your biggest powers: Choosing yourself when to sell.
2. You invested everything into one commodity (not saying that this cannot work, but you need to be really good and experienced to pull this off)
3. From what you wrote, you bought rather high, rather than into a dip.
Both 2. and 3. would be half as bad in the case of silver, if 1. weren't the case. Thats because silver will go up again, but since you said that you need the money in the short/midterm, you're forced to sell at the worst possible time.
I wish i had something motivating to say at this moment. I like your mentality, even if you're unexperienced. Yet, in the situation as you described it... well... crap :-/
BIG EDIT: I just did read that you bought below current spotprices. In this case, i retract all i wrote about #1 before. My new proposal is: Do whatever you feel is right at the moment, since you will not have made any losses anyways. Your own personal peace (and shall i dare spell "recovery"?) is worth more than anything else right now. Just give yourself some rest to get a clear mind :)
P.S.: In this case i really think you're too hard to yourself and exaggerating your "mistakes".
I don't even think we will see a day when "gold" returns as a currency or used as a method to back currency. Two possibilites with what is going on:
1) This is being pumped up to squeeze all the little guys for what money they have left
2) If it is eventually used as a method to back currency then whatever people hold in terms of private wealth WILL BE CONFICATED
Given what is going on, it is VERY bad out there. Total collapse is coming, along with Martial Law, Continuity of Goverment, etc. Expect massive culling to take place as Soros, and Tomason, etal, desire, and need the population to shrink to sustainable levels given current energy/monentary constraints.
https://www.gunsgrubandgold.com/forum
silver has a high beta these days...and its a small market so a volatile one compared to the currency speculators which is a much bigger game. Hot money HAS to run when volatility and uncertainty reaches Fukushima proportions as of today. Not withstanding end of QE...the only rule now in the market is ...run, baby run! ...all over the place!
What is even more interesting is that history shows that "blow outs" occur when a system is getting ready to implode. These markets were based on PM currency, but after the implosion people wanted tangible commods for trade/barter and not a "wealth storage" vehicle, as vehicles are only used when the basics are provided for in stable, sustainable environments. A fire storm is coming. Enjoy what you have, enjoy life...
my guess is that the Steve Forbes link below has been viewed countless times since yesterday, thus making it old news. But I didn't see anything on it after paging back so I thought I'd share.
So for what it's worth, here - http://www.moneynews.com/Headline/Steve-Forbes-Gold-Standard/2011/05/11/id/395949
Sprott on Max Keiser today ! Here
http://www.youtube.com/watch?v=PM-LrMimRys
As I have said before physical dealers in Portland Oregon are still honoring spot prices. http://www.ajpm.com is the dealer that hooked me up today at $36.50/oz. That is affordable jewelry and precious metals only I didn't see no jewelry. I thought I saw them wrapping stuff up and shipping it out from time to time. The only problem is when I walked into the shop they had 7 ounces of Argent for sale. They said that they would have another 1000 ounces monday.
Who cares what Sprott says! I read charts. I was long commodity based currencies and hedged xag against them. I did just fine last week. I missed my bid this morning but Asia usually stuffs N.Y. I have solid bids in below the Daily trendline from, 8-24-10 that run through the 32.27 area, or there abouts. I win either way. usd/jpy can't take out the 81.6 fibi and club med. is coming to a rolling boil.
"Naturally he will be called a nutjob and a tin foil-hat wearing moron...."
Well, I didn't want to say anything, but....
The reason Eric Sprott's hedge fund is at an all time high in physical silver is because he continues to get money from investors. He's been plowing that money into physical silver as well as miners. Eric is one of the buyer of size (BOS).
WTF do you silver trolls expect Sprott to say?
This shit is getting so transparent it's becoming a complete joke.
So very, very butthurt and jealous.
Why don't you just go live your life?
TROLL!!!
Is that your middle name, or given name?
My middle name is: look at the f$$$in chart, silver troll.
Which chart?
This one? http://www.kitco.com/LFgif/ag00-pres.gif
There should be a moron index that everyone can trade for or against, such as a vix commodity index, but with futures players,....did any moron viewing this catch why it will not work???? no you are all adiots.
I betting on Red Barron to win the number one spot in the Moron Index!
Any takers betting against?
Ahem, and the word you are looking to describe yourself is IDIOT not ADIOT
You sure sound bitter for a guy claiming to be at least 62 years old posting on an internet forum.
If you get no pleasure from posting here, why do it? You're going to die soon. Go spend time with the grandkids, for fucks sake.
Who is Eric Sprott?
Buys and sells ladies shoes and under ware in Vegas. Never says much so when he does , boy people listen.
doubled...
Crispy,
We could take time to explain him to you -- or -- you can move the cursor up to the google search box and type in the name...
whatchu wanna be now? http://www.youtube.com/watch?v=n330nnFzvHM
wagon wheel
http://www.youtube.com/watch?v=1gX1EP6mG-E
old number 7
http://www.youtube.com/watch?v=fut6zeXtyN0
neath the piano
http://www.youtube.com/watch?v=dAs9cSdR1J8
sorry for the spewing. dropped some bonds for silver today, i don't have much, but still want to have it where it will matter. if i'm wrong, then so be it.
I recall a conversation back about '99, was showing off some silver and gold Eagles to my Army roomie. He asks "how much is silver?" "Oh, about four and a half bucks." He just kinda sneered, "really? is that all?"
Man, looking back I shoulda bought a LOT more. His reaction should have clued me in better. I DID manage to time some small sales right, sold a hunnerd ozt @48 on that Friday afternoon before the late unpleasantness, but it matters not. Haven't bought in quite a while, but may be time to scale back in.
What's remarkable is how people get so worked up and troll the boards (perhaps even the same folks) and can't seem to mind their business. It's not like I hang out on the Savings Bond webpage and harass the folks there for the assets they hold.
It's just a shame what the government is doing to savers and prudent folks, by design apparently, particularly those on fixed income, esp. the elderly and invalids &c. &c.
Yes, that is a salient and very curious point, isn't it?
You know, as much as I loathe the Federal Reserve, fiat currency, and everything that smacks of the corrupt, unsustainable and failing financial and monetary status-quo, it has NEVER occurred to me to go into some "mainstream" financial blogs or forums and slam the clueless sheep therein on their hopelessly blinkered devotion to their own bondage and slavemasters, or to scream at them about the coming dollar crisis which will assuredly wipe out their savings --- no, never once has such a thought crossed my mind. Yet here we have certain, shall we say unwelcome, posters who are here EVERY day, for hour after hour, haranguing us and beating us over the head with how wrong we all supposedly are, and how wise and "altruistic" they are. Is it just due to derangement, psychological damage, or personality disorders that these people do what they do? Or are there hidden agendas and motives? To me, the answer is pretty clear, and in most cases it is NOT the former set of explanations.
I never thought that zero hedge was just a survivalist, wait-for-the-collapse, gold and silver bug club. There have been posters from bond traders and others that have been spot on.
It would be a dreary place if there were no diversity of opinion.
Actually, I DO troll just once in a while at a bank stock board. You see, my families wealth ironically came from investing in banks (a long long time ago). And I got the family mostly out of those banks before 2008 and into PMs. One of those banks went to $1 from $40 and the other came back but still got shithammered. Every once in a while I will lecture and forewarn. Not everyone is an omniscient PM devotee, I take some joy in helping people see the errors of their ways and see the path to freedom and liberty - which USED to be the "American Way."
What is the most that you guys will pay for phys silver? Is under $40 and oz good or do you think it will drop to below $30 an oz? I have bought some but am going to switch to gold for a while.
I won't be buying over $30 but then again I already have a substantial physical position so I'm not champing at the bit. Instead I will continue to play at the enriched ETF tables (DGP and AGQ). I like cash too.
CAN YOU SMELL WHAT THE SPROTT IS COOKING? (smells like newly refined silver) :)
There will be a collapse, probably sooner rather than later. What do you want to do to prepare for it? The way I see it, there are several basic things that you will need. First, a community that will band together to support each other. Secondly, food and water. Third, guns and ammo. Fourth, no debt. Fifth, some store of value that will survive the crash of the fiat currencies. So, I blew up my TV, threw away my paper, moved to the country, built me a home. Grow my own organic food, have seven spring fed streams and two lakes on my property. Several freezers with venison shot on my property in them. A generator. Still thinking about solar, but don't think that the technology is there yet. Have multiple thousand Silver Eagles. Thinking about some gold coins next.
Is this enough? Probably not, but it is a start. The good news is that when it all crashes we can repattern this world to try and get rid of some of the dysfunctional systems currently in place. It will also be a wake up call to those idiots who believe that stuff is valuable and will make you happy. Real values will rise from the ashes.
Should be interesting.
Ship of fools - stay away from me.
ship of fools - that's what you have the guns and ammo for.
I suggest some nice big nasty barbed wire fences too.
The emperor. I know I know. Not a stitch on him.
We all know that silver was manipulated. I'll be more impressed if Mr Sprott tells me something I dont know.
There is going to be a Mad Dash to gold and silver in Australia as their housoing market plunge worsens. Here is an except of the future of Oz's housing market from The Daily Reckoning:
"
So, what does this all mean? It means three things…
It means Murray’s a darn good trader. It means house prices are likely to fall by at least 20% over the next twelve months and more than that over the next 24 months.
And it means you should get ready to buy property when the price is right. Just don’t make the common mistake of thinking a 5% price fall equals a bargain, because it doesn’t.
The time to buy isn’t now.
If you’re a shrewd negotiator – actually, even if you’re not – soon enough vendors will slash prices just to cut the housing albatross from round their neck.
Then, and only then, will it be time to buy property. But just remember, the rise in house prices from the 1980s through to the mid-2000s was nothing more than a credit fuelled boom.
If you’re hoping to get those rapid gains again when property eventually recovers you’ll be sorely disappointed. The best you can expect is a generation or more of price volatility – that means prices falling and rising in regular succession.
Followed by the traditional pattern of steadily rising and then falling house prices.
That, my friend, is the future of Aussie housing."
Investors will flee to PMs there for safety just as Greeks, UK'ers, Americans and Chinese are now doing as paper currencies drop due to printing to devalue currencies to boost exports.
As far as property goes...it won't be an "investment" again for years to come.
So if eveyrbody BTFD
who buys the the fucking rise?
Just saying.
Marty Armstorng's latest points
http://www.martinarmstrong.org/files/The%20Silver%20Crash%20of%202011%20...
Thought i would add to this post details on Gaddafis golden standard.
http://www.scoinsandbullion.com/en/blog/225-could-gold-be-behind-western...
Go Sprott baby Go
and for good measure shove some useless dollars up Ben's ass. Gold is too valuable to use for that
I was ahead of Sprott on this.
"We are already on an international gold standard" prole 4/26/2011- 19:44
SURVEY SAYS...