• Steve H. Hanke
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It's Going To Implode: Buy Physical Gold - NOW

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Fri, 03/19/2010 - 09:24 | 270030 hognutz
hognutz's picture

Got my gold!  Next it's beans and bullets.

Sun, 03/14/2010 - 22:51 | 265456 Anonymous
Anonymous's picture

why restrict yourself to physical gold? seems like any physical asset would do no? real estate, firearms, yachts, livestock, vintage 70's hotrods, art. a paper collapse will be JUST that.

Because gold is money.

I will trade you my 70s hot rod for 7 krugerrands, $20 or $50 US coins, etc and 20 silver dollars or a 1/10th ounce if you have one, you can keep the rest, the other stuff I have already, including food, guns (class 3 baby!!!!), and shovels, generators and fuel. When times get tough though, I will probably sell "it" for one krugerrand, but who the hell would want it then? Anyone who wants into this game, even if they dont have many FRNs to spare, should look to ebay and buy rolls of silver, or any "junk" silver coins, there are gold coins there, but on a per piece basis, the premiums are high due to the fees. Dont overpay though, google "current melt value of coins" and pay accordingly and look for bargains! they do happen, I have bought poorly listed by estate sellers of silver for well below spot many times... you may be glad you did.

Sun, 03/14/2010 - 23:21 | 265478 SWRichmond
SWRichmond's picture

ebay?  You gotta be kidding me. 

Sun, 03/14/2010 - 22:31 | 265446 Anonymous
Anonymous's picture

This author is a nut...However I do believe it all wholeheartedly and I am way ahead of his article on my way of thinking, yes, yes, yes, cash and metals.

If Germanys banks do not feel that the Euro is not worth backing with gold reserves, and China wants some reasurance on the stability RIGHT NOW on the US dollar, (both points international news on Sunday the 14th) what does that say about fiat currency and its relationship to gold? There is a tipping point coming, but not where you would think? will it be Saudi finally refusing to take US dollars for oil?... endgame near.

Robby Dougherty

Sun, 03/14/2010 - 13:06 | 265047 Anonymous
Anonymous's picture

I've been in a panic since 2007, what took you guys so long? :) I wasn't sure whether I'd get my 2nd big silver order received in time when Bear Stearns collapsed, the crushing of the silver price that month (March, 2008) by their new shorts owner JPM really made me angry. I had been waiting 2.5 months for that order to get in and the price on the paper markets were obliterated. Look out if you order from Northwest Territorial Mint in Auburn, WA..they are dangerous.

I have told everyone I know to buy physical PM's for the past 3 years and most look at me as though I am crazy and some still do. The concept of gold/silver investment is very simple...buy some, hold it somewhere safe and wait...its a pain in the butt compared to mouse-click investing in paper markets. However, I have read the PM related (or some are called contrarians) articles like a fiend for these past years. Jim Willie, Jason Hommel, Ted Butler, Bill Murphy, Adam Brochert, Adrian Douglas, Bix Weir, Trace Mayer, Gerald Celente, Peter Schiff ... even Don Stott's column at Colorado gold among others ... and, of course, Reggie Middleton (Hi Reg!). Reggie wrote an article: 'Anatomy of a sick Bank' that motivated me to really start warning people. That was June 2008 though Reg was on the trail for some time before then. Cudos' Reggie, though no one listened to me back then or even bothered investigating for themselves.

After the fall of 2008 (no pun intended, well maybe) I noticed a plethora of new writers flooded into the PM info arena and some seemed like real-life disinformation artists. So now its much harder for new comers to decipher good from bad info.

Another great article from way back when was Doug Dillon's 'Modelling a Dollar Flight to Gold' at kitco: http://www.kitco.com/ind/Dillon/jan172008.html. I model major components for aircraft so models are near and dear to me as boring as the work may be at times. Its a good thing the financial modeler's on wall street don't do aircraft or missiles...they'd kill everyone instead of just bankrupting them.

Doug did his article in Jan, 2008 ... and here we are with righteous palpable fear in the air. Thanks for the heads up Gordon regarding Everbank. There was a major revision to one of the PM ETF's in recent months where they removed all instances of the word 'bullion' from it, I'm sorry I can't find who pointed that one out

Sun, 03/14/2010 - 09:31 | 264957 Anonymous
Anonymous's picture

Some great views on this thread. Having fun reading all the theories.

See page 24 line 14. http://www.federalreserve.gov/releases/z1/Current/z1.pdf

It seems that the US has sold overseas $190 billion of gold and SDRs (whatever they are) in late 2009. That would be about 6000 tonnes of gold.

Fort Knox is said to hold 8000 tonnes of gold.

Sales and/or purchases for 2005 to 2008 are next to nothing.

What do others make of this?

Where did it go?

Sun, 03/14/2010 - 13:21 | 265050 Gordon_Gekko
Gordon_Gekko's picture

In my opinion they only put on paper whatever Gold they sold off these past decades to suppress the price, and why now? Most likely because we are heading towards some sort of endgame IMO.

Sat, 03/13/2010 - 10:29 | 264275 Anonymous
Anonymous's picture

Good Job Gordon Gecko

Sat, 03/13/2010 - 10:27 | 264274 Anonymous
Anonymous's picture

Go long on physical gold!

Sat, 03/13/2010 - 04:07 | 264164 Anonymous
Anonymous's picture

A big part that is keeping the physical supply from separating too quickly at the moment is all the promotion for the public to bring in their unwanted gold item and get paid about 50 % of what they could get an honest coin dealer shop.

Very Sad.

When this easy scrap gold is gone back to the refiners and then into the hands of investors, then get ready for price separation.

Be prepared, the time to dig a well is before you need the water.

Consider also buying emergency supplies and propane back up generator. http://www.everydaygenerators.com/category/fuel-type/liquid-propane-gene...

Don't think you have lots of time. You don't know that. Be proactive.

C. Pinnell
Publisher, EveryDayGenerators.com

Fri, 03/12/2010 - 16:37 | 263615 Anonymous
Anonymous's picture

why restrict yourself to physical gold? seems like any physical asset would do no? real estate, firearms, yachts, livestock, vintage 70's hotrods, art. a paper collapse will be JUST that.

Sat, 03/13/2010 - 11:08 | 264289 Gordon_Gekko
Gordon_Gekko's picture

Because Gold IS money.

Fri, 03/12/2010 - 12:19 | 263239 Anonymous
Anonymous's picture

Anyone with an opinion on Goldmoney.com or Bullionvault.com for holding gold?

Sat, 03/13/2010 - 11:09 | 264292 Gordon_Gekko
Gordon_Gekko's picture

Nothing beats personal possession.

Fri, 03/12/2010 - 12:16 | 263236 Anonymous
Anonymous's picture

After reading all this it makes me wonder if anyone has an opinion on James Turk's Goldmoney.com or Bullionvault.com for holding gold?

Fri, 03/12/2010 - 17:39 | 263683 Anonymous
Anonymous's picture

there is only one person i would trust to hold your gold for you. that is you. end of story.

Sat, 03/13/2010 - 11:10 | 264293 Gordon_Gekko
Gordon_Gekko's picture


Fri, 03/12/2010 - 11:27 | 263191 Anonymous
Anonymous's picture


Issuance of new American bills not to lead to devaluation of dollar

12.03.2010 10:39

Issuance of new American bills not to lead to devaluation of dollar

Azerbaijan, Baku, March 12 / Trend Capital /

Apr.21, the U.S. government will present a 100-dollar bill of the new design, the Central Bank of Azerbaijan reported.

The U.S. government reported that when issuing of the new notes will not require changing the old banknotes for new ones. All U.S. banknotes issued after 1861, retain their full face value.

In addition to the new bill, the old design banknotes remain legal tender and retain their full face value, and it will not lead to the revocation or to the devaluation of any U.S. currency.

"The U.S. government has never devalued its currency and will not do it now," the U.S. government stated.

Do you have any feedback? Contact our journalist at capital@trend.az

Fri, 03/12/2010 - 10:35 | 263140 Anonymous
Anonymous's picture


I don't believe there's any doubt about not being able to buy physical gold with fiat at some point.

Now take a look at
what S&P projected [graph]
about 1st World Debt quite some time ago.

Fri, 03/12/2010 - 09:07 | 263091 Anonymous
Anonymous's picture

For all of you who think their gold can't be confiscated I ask...Is there a paper trail for your transactions? Just like registering your guns, if they want 'em they will take 'em.

Best we all band together today and overthrow the whole bunch. Imagine 100,000 strong marching down Wall Street with ropes for a hangin!....Ohhh what fun!

Fri, 03/12/2010 - 07:47 | 263059 Anonymous
Anonymous's picture

I was wondering what the consensus is on things like bullionvault.com? The gold there is allocated and can be converted in physical (although at a premium). Is this a safe way to invest or are there also troubles with it?

Fri, 03/12/2010 - 10:59 | 263161 Gordon_Gekko
Gordon_Gekko's picture

I don't think so.

Fri, 03/12/2010 - 05:42 | 263037 Anonymous
Anonymous's picture

The following is an excerpt from the latest issue of Coin World magazine,from an article entitled "Surrender your gold". The following two paragraphs are from the article.

President Franklin D. Roosevelt was inaugurated on March 4, 1933. One of the first things he did was to command that citizens turn in their gold coins. The market price of an ounce of gold was $20.67. Numismatists were exempted, as were gold coins of obsolete denominations such as $1,$2.50 and $3.
Dutifully, Americans who had such assets went to their safe deposit boxes and other storage places, retrieved their gold and delivered it to one of the banks that was still solvent - as banks acted as receivers. Hundreds of millions of dollars face value in coins were surrendered or confiscated (you pick the word). Within a year, the government raised the price of an ounce of gold to $35, in effect stealing (or you can use another word here) untold wealth from the public.

That's how it played out during the depression of the 1930's. I would imagine that everyone who turned in gold received paper currency to replace it at the time.

I really don't see things devolving into chaos as some here envision. Uncle Sam will just give us a new $20 to replace an old $100 or something along those lines, taking mugging to a new refined level in the name of patriotism.

Fri, 03/12/2010 - 05:36 | 263034 Anonymous
Anonymous's picture

Discussions of paper gold have not included goldmoney.com (that I have gleaned from the 300 or so comments). Any opinions on this outfit from the experienced gold mongers and investment savy regulars?

Fri, 03/12/2010 - 12:24 | 263246 Anonymous
Anonymous's picture

I too would be interested in people's comments on Goldmoney. James Turk has a good rep and I have a very substantial holding there. Also, what about Perth Mining?

Fri, 03/12/2010 - 05:17 | 263029 Anonymous
Anonymous's picture

Thanks for the post, GG.

"Given the massive, concentrated and long-term (the entire past decade - they haven't been net-long - not once - during that time period) nature of their short positions, it really isn’t that hard to deduce that the banks do not nearly have enough metal to cover their shorts and that the sole intention of the massive short position is to control the price."

I would say those banks have the short positions BECAUSE they administer the ETFs. The shorts balance the 'long' ETFs since, obviously, they are not backed with actual metal. The paper price will surely decline eventually; the VALUE of the physical is unrelated, like always.

Fri, 03/12/2010 - 03:51 | 263005 Anonymous
Anonymous's picture

Get a backup solar power system. get a wood stove. a bike, and lots of tools. stock on wine and vodka in the basement with the caned food, and a crank radio and crank lantern and or flashlight. buying my green wood now for next year.what you need if power goes out may be what you need, plus some gold and silver.

Fri, 03/12/2010 - 02:13 | 262939 Anonymous
Anonymous's picture

Either you live in a community that will fall apart in a collapse, or you don't. If things fall apart, you'll be living like a scared animal where membership in the largest gang will be the only thing that keeps you alive. Of course, they will demand everything from you.

In communities that remain peaceful and organized, your gold will just be shiny paper weights, while useful things will be used as barter.

In short, gold bugs are just boys playing cowboys and Indians, imagining that they will be the winners in the end.

Fri, 03/12/2010 - 02:10 | 262935 Anonymous
Anonymous's picture

Either you live in a community that will fall apart in a collapse, or you don't. If things fall apart, you'll be living like a scared animal where membership in the largest gang will be the only thing that keeps you alive. Of course, they will demand everything from you.

In communities that remain peaceful and organized, your gold will just be shiny paper weights, while useful things will be used as barter.

In short, gold bugs are just boys playing cowboys and Indians, imagining that they will be the winners in the end.

Fri, 03/12/2010 - 01:49 | 262910 swamp
swamp's picture

Benjamin Franklin acted as an agent for Pennsylvania, Georgia, New Jersey, and Massachusetts. In 1757 (and again in 1764), he went to England and lived there for several years.

While Franklin was in England, officials at the Bank of London asked him what he thought was the reason for the success of the colony.

“That is simple. In the Colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one.”
- Benjamin Franklin

The bankers apparently didn’t like the colonies printing their own interest free money because the British Parliament quickly passed the Currency Act in 1764. The act prohibited colonial officials from issuing their own money. Colonies were ordered to pay future taxes in gold or silver coins.

“In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed.”
- Benjamin Franklin
Franklin claims this was the real cause for the War of Independence.

“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the prime reason for the Revolutionary War.”
- Benjamin Franklin autobiography

Fri, 03/12/2010 - 03:00 | 262973 exonomic halfbreed
exonomic halfbreed's picture

I am impressed Swamp.  You are a rare individual.  Very few know of this.   Along the same subject, perhaps you could enlighten me.  I have been told that in the war of 1812, ( which the New Englanders refused to participate in northern excursions) we claimed victory yet gave into our enemies demands that we allow once again a liberalization of our banking rules to quietly allow the agents of the bank of England into our nation and once again start utilizing loose fractional reserve lending.  Is there much credence to this and what other games did these banksters make us play?


Fri, 03/12/2010 - 15:08 | 263482 SRV - ES339
SRV - ES339's picture

Hope you get back to see this halfbreed... "The Money Masters"


Fri, 03/12/2010 - 01:48 | 262909 exonomic halfbreed
exonomic halfbreed's picture

I was trained as a jeweler many years ago.  I am prepared as you would expect.  Having heard about the possibility of altered gold bars, I did some digging.  There was a verified incident in Germany ten years ago where a 500 gram bar was found to contain a tungsten core. The Hong Kong story (fall of 2009) has turned out to be false (maybe). At the age of 15 (1969) I was beginning to start investing and asked my grandfather (who raised me) which investor should I read about next and he replied Bernard Baruch.  I thought about Baruch recently when I was wondering about the gold in Fort Knox.  Bernard was very close to Wilson and F.D.R. (Churchill too). Go to Wikipedia and read all about him.  I know there is plenty of evidence concerning questionable actions by the federal reserve and possibly others involving the U.S. gold, so I was wondering if anyone could have messed with our gold earlier.  I have heard the rumors about chicanery in the 1990's.  Thinking about the logistical difficulties in a Fort Knox switcheroo ( i.e. thinking as a criminal does) I came to realize that the best time to steal a good portion of the gold owned by the people of the most successful empire ever to have trashed the earth was at the time of confiscation of gold coin followed by meltdown and bar pouring.  Baruch was a wealthy man by age thirty who bought a tungsten mine in California (atolia). While he owned a 17,500 acre estate on the coast of the Carolina's (where heads of state vacationed with him) he chose to stay one month each year from 1906 to 1926 at his tungsten mine in that small desert town (pop. 4,000). I guarantee you that as a smart Jewish fellow he was well aware of the fact that tungsten is just slightly under the density of gold and that a small addition of osmium or iridium could bring the density up to equal that of gold. Many successful families plan with strategies covering generations fully aware that things don't just happen, they are planned.  A secure facility within a meltdown and pour operation site could have allowed for the switch out of bad bars for good at night with complicit personnel rewarded later by disappearance.  On an entirely different subject regarding stock in mining companies....all our stock holdings are collateral for U.S. debt, therefore at a bankruptcy hearing convened by holders of U.S. treasury debt no longer willing to be lied to or injured by wanton destruction of value by over issuance of the currency such stock will be forfeited along with more than we are prepared to envisage.

Fri, 03/12/2010 - 01:56 | 262917 swamp
swamp's picture

Very interesting post.

About the confiscation of shares -- that's why I have paper certificates in mining companies registered in foreign countries (in addition to physical gold and silver). I can take those paper certificates and open a brokerage in a foreign country with those certificates. The certificates are no longer on USA books, haven't been for years.

Fri, 03/12/2010 - 02:46 | 262961 exonomic halfbreed
exonomic halfbreed's picture

There is a small flaw in your logic sir. There is a subsidiary of the Fed which is charged with making a paper copy of every stock transaction.  I learned at a private school ( attended by scions of some pretty powerfull families) that a stock is not truly accepted as changed in ownership umtill this entry has been made by the Fed subsidiary.  This is due to the collateral obligation.  If you purchased stock and took possesion of the certificate this does not negate the call upon this property by holders of failed federal reserve notes. By the way my name is supposed to be economic halfbreed not exonmic.  I typed too quickly.  Obviously I have one foot on each side of the tracks

Fri, 03/12/2010 - 03:44 | 262998 merehuman
merehuman's picture

It works with todays EX econonot

Fri, 03/12/2010 - 00:49 | 262857 Anonymous
Anonymous's picture


Check the hockey stick in the graph. Deflation? Ya, sure.

Fri, 03/12/2010 - 00:43 | 262852 sawyer
sawyer's picture

If GG's predictions are correct, then all gold mines risk being nationalized for the "greater good" or "national security" or "economic stability" and all citizens would be ordered to deliver all physical gold in their position to the Feds...The new "gold police" will probably start by communicating with the people posting on this board

Fri, 03/12/2010 - 00:34 | 262842 Augustus
Augustus's picture

I saw G. Gordon on the tele recommending the purchase of gold.  And do it right Now.  It must be the popular thing to discuss if it takes a hard sell commercial to motivate people to purchase.

Fri, 03/12/2010 - 03:27 | 262989 merehuman
merehuman's picture

Well now, take your time, dont hurry. let me get mine first! And all my friends.

Why encourage folks to own gold and silver?

China knows. If china backs their currency with gold and becomes the new reserve currency all their gold owning chinese would be well capitalized. It would increase their spending power and lift their economy. They dont need us anymore.

If my community holds wealth we are all lifted. Gordon would like to see more of us survive and the country to prosper. same motivation many of us have.

Fri, 03/12/2010 - 00:26 | 262839 Anonymous
Anonymous's picture

To the person (at 17:16) asking about the best way to own physical gold and mentioning that he/she has gold in a depository form in Australia: if you are taking about the Perth Mint's certificate program, then see this copy and paste from their website:
The PMCP is also the only Government Guaranteed certificate program in the world...
If your concern is government confiscation of your gold when the SHTF, then I would not feel comfortable with this program. Perth Mint does sell coins and bars, and I'm sure they will send them anywhere in the world. I'm planning to buy some bars (bigger the better, as the premium over spot price, on a per ounce basis, declines with bar size). The coins are too expensive.

Fri, 03/12/2010 - 02:06 | 262932 Anonymous
Anonymous's picture

The coins are expensive, but hey, I stick to 1oz gold and 10oz silver, can pay for them cash in hand and then take them home with no record of the transaction (aside from CCTV). That and knowing the coins have come straight from the mint are worth the premium IMHO

As for the PCMP, whilst the Oz govt aren't exactly devious when it comes to citizen's wealth - they are clueless. Thus they might just be led down the path of government confiscation by their 'experts'....

Fri, 03/12/2010 - 15:15 | 263496 Anonymous
Anonymous's picture

Agreed. The 4% premium for coins is worth the potetial need for granularity bars can not provide.

Also, if this gold is to protect against the end of the world, then a 4% premium is not going to matter.

On the flip side, if it is all for naught and gold falls to $400, the 4% will not matter either. It is a rounding error in the scheme of things.....

Thu, 03/11/2010 - 23:37 | 262783 Janice
Janice's picture

I think; therefore, I am

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