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Spot Gold On June 1, 2010: $2000.00
Submitted by Marla Singer on 11/14/2009 00:23 -0400
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Anon,
I would suggest forsaking some debt repayment to have some gold or at least some silver. What you do is not my business, but I am considering letting a couple months expenses go on my credit cards so that I can get more.
AD, good point... trying to figure that one out as well. Also, what happens to mining stocks (when) the market sells off, if gold remains strong?
Thoughts?
Andy,
Thanks for your post. It is good to balance what may be bad advice with some reflections on the future that logically, normally, would be likely. I am not sure how normal things are. The bad feeling about the economy itself seems to be picking up momentum in the press.
I'm not as bad a girl as I wish I was. I would get the metal to get the metal. I earn much more than I spend in a month because I have no debt and own my own home. I would run up maybe a month or twos worth of expenses (which would not equal a whole paycheck). In my situation, at worst, it would take 2 months to pay it off. I live frugally. My only splurges are coffee, good running shoes, and organic food for the family. Some wine here and there. :-)
Speaking to the poster who had no PMs at all, I am advising that they consider buying insurance before they finish paying off their debt.
I would feel better if everyone had some silver. If all of us had a ratio of savings in silver, we could all step away from dollars at the same time. That would be change I could really believe in.
But what about the Beijing put?
I think there will be some sort of deleveraging event hit the metals markets, but not to the 2008 extent, since China's put a pretty firm floor in...
I did, MsCreant, just to be sure of walking-around money in case TSHTF, not as an investment as much as an insurance policy.
Well said MsCreant!
The Paper Ponzi Zombies just cant quite grasp how broken the system is and that we are living on borrowed time as we speak.
http://www.financialsense.com/fsu/editorials/kirby/2009/1112.html
you go sister, that's the spirit! letting a little usury slide!
If you have credit cards, that tells me all i need to know about you.
and if you don't, and your not part of the resistance, that tells me all I need to know about you.
I own my own home outright, my car, and have no debt at all at present. I am employed. Is that what you knew about me?
Would you be interested in pet guy?
I wouldn't do that. You'll be betting that gold goes up at a greater percentage rate than your credit cards? I believe gold's going up, but not that fast.
But she will have the ag, and won't HAVE to pay cc's.