• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

"If" - Reflections On The Precious Metals

Tyler Durden's picture




 

Last week's collapse in precious metals prices reminded Santiago Capital's Brent Johnson of Rudyard Kipling's famous poem 'If' - "If you can keep your head when all those about you are losing theirs." This brief but complete summary of why one should hold gold, the theories about the drop, his view of the manipulation - "would it really surprise anyone?", and the ongoing and increasing realization among the mainstream that a rising gold price is the canary in the coalmine of economic distress and currency debasement is well worth the price of admission. His message is clear, buy physical gold - rather than futures - don't use margin and store it somewhere safe. The last three minutes of "Ifs" are a succinct list of the questions everyone should ask themselves about the status quo.

 

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Fri, 04/26/2013 - 18:41 | 3504150 howenlink
howenlink's picture

If only I had the cash.

Fri, 04/26/2013 - 18:44 | 3504158 Aeternus
Aeternus's picture

I hear the banks are lending, go take out $100,000 or so and get you some phyzz.

 

 

 

http://www.youtube.com/watch?v=fyklt01lN_I

 

Fri, 04/26/2013 - 18:48 | 3504173 McMolotov
McMolotov's picture

Don't forget to lose it all in a tragic boating accident before you default on the loan.

Fri, 04/26/2013 - 18:52 | 3504188 BaBaBouy
BaBaBouy's picture

JPM Vaults EMPTY As An Old BeerCan ...

$50K GOLD.

It's Coming...

 

Fri, 04/26/2013 - 18:58 | 3504191 James_Cole
James_Cole's picture

http://santiagocapital.com/

Yes friends, the big guns! Trust anything he says. 

Or catch some of his wealth management advice at bakerave (conveniently at the same address):

http://www.bakerave.com/investment-management/management-team#brent-johnson

 

Fri, 04/26/2013 - 19:21 | 3504257 markmotive
markmotive's picture

Last week's gold plunge looks like a bottom...

So says Sprott:

http://www.planbeconomics.com/2013/04/sprott-did-last-weeks-gold-sell-of...

Sat, 04/27/2013 - 02:09 | 3505066 Lord Koos
Lord Koos's picture

He should know.  He sold about $45,000,000 of his own silver a few days before the crash. http://www.theglobeandmail.com/globe-investor/inside-the-market/eric-sprott-sells-big-chunk-of-silver-trust-units/article11157109/

Just lucky, huh?

Sat, 04/27/2013 - 06:25 | 3505203 new game
new game's picture

trust me, he is the enemy(too)...

just another facist

long hollowed be thy faceless name

on earth and gone to hell

let their be justice

for mankind and the ruling cabel...

Fri, 04/26/2013 - 22:52 | 3504867 Jungle Jim
Jungle Jim's picture

But, when? We don't all have years or decades to wait. We're going down now. I've already been forced to sell all my 90 percent silver on or about April 19. I have some Silver eagles left, and a mixed bag of (largely foreign) gold too. But how long will it last me? And how far can it take me? I can't wait until the Twelfth of Never.

Fri, 04/26/2013 - 22:57 | 3504874 TwoShortPlanks
TwoShortPlanks's picture

My figures call for US$134K Gold, calculated in today's purchasing power of currencies.

Then, when only 1oz per of Gold is mined for each person on earth, every 50 years....US$1-2M.....in reality the market won't exist.

Sat, 04/27/2013 - 02:17 | 3505071 BigDuke6
BigDuke6's picture

I think what you are saying is that

when the gold mothership takes off ... many will be left behind.

Sat, 04/27/2013 - 03:54 | 3505117 TwoShortPlanks
TwoShortPlanks's picture

Affirm, BigDuke6.

Just imagine how negative about Gold these people will be once all the Gold has been spoken for, and, they hear the Spaceship start to hum.

A lot like this, I suspect: http://www.youtube.com/watch?v=KcLaMyc4ecE

Sat, 04/27/2013 - 10:49 | 3505401 RafterManFMJ
RafterManFMJ's picture

$50,000.00 gold? My pee pee feels funny...

Sat, 04/27/2013 - 00:46 | 3504995 Antifaschistische
Antifaschistische's picture

just never tell them what you bought...take your time, deplete your 100k loan slowly and only buy your metals with cash from a dealer that doesn't require ID.  

If your mother's in good health, and if you trust her, put it in her safe deposit box so when you default they don't look at the bank for your stash.  You don't even have to tell her what it is if it's gold since 50 ounces can fit in a very small box.   You can even put it in a small jewelry box.   Of course, just add this to the other 200 ounces you have that Uncle Sam doesn't know about.   Or you can go the bury route if you're really really comfortable with that.

After you default, you will need to lay low for a while.   Since you're waiting for gold to hit $5k you're not liquidating any time soon anyway.  Currently you can get gold across the Mexico and Canadian borders pretty easy.  But if JPMorgan pulls the string they may alter their vehicle x-ray technology to look for PM's like they look for kilo's of grass.   We may have to get creative in that case.

Sat, 04/27/2013 - 10:00 | 3505340 GoldForCash
GoldForCash's picture

All loans at this time is tied to the government . You will not be able to default. Put up your house, car etc...the government will take it. Need I say what they will come after On a personal loan!

Sat, 04/27/2013 - 11:14 | 3505082 Lordflin
Lordflin's picture

If you can keep your head when all about you are losing theirs, you clearly do not understand the situation...

Fri, 04/26/2013 - 19:00 | 3504163 freewolf7
freewolf7's picture

Will the bank hold it for me?
Is that expensive?

Fri, 04/26/2013 - 19:15 | 3504239 FEDbuster
FEDbuster's picture

My gun safe is several troy pounds heavier this week. 

"If you can't stand in front of it and defend it with an AR-15, you don't own it" Ann Barnhardt 2011

Fri, 04/26/2013 - 20:35 | 3504479 Boston
Boston's picture

Same here. Never bought more in a two day stretch than I did on 4/12 and 4/15. 

Sat, 04/27/2013 - 06:29 | 3505207 new game
new game's picture

long lead

manipulation on many fronts...

BT any availible FD

utility

value

to be control by "explosive" controls...

working on bill to control "dry powder"

hmmm

gun contols has many faces.

buck/rd coming to a web site near you...

JMFO

Sat, 04/27/2013 - 10:02 | 3505343 GoldForCash
GoldForCash's picture

Bolt it down. In our area they are wrapping chains around the safes and pulling them out with trucks.

Fri, 04/26/2013 - 18:45 | 3504164 colin
colin's picture

in need some more benny buck to turn paper into gold

Fri, 04/26/2013 - 18:47 | 3504168 machineh
machineh's picture

Buy physical gold and lose your ass.

The precious metals charlatans have come out of the woodwork.

It's like 1981 all over again.

Those who don't know the sorry history of gold hucksters are doomed to repeat it.

 

 

Fri, 04/26/2013 - 18:47 | 3504178 The Shootist
The Shootist's picture

What was the lifespan of the longest lived fiat currency?

Fri, 04/26/2013 - 18:53 | 3504185 ronaldawg
ronaldawg's picture

Anti-gold a-holes are starting to get under my skin.  What other investments are there?  Stocks?  Real Estate? Commodities?

We can't all be like Hillary Clinton and invest $5K into pork bellies and turn it to $500K overnight.

Fri, 04/26/2013 - 21:32 | 3504646 espirit
espirit's picture

I'm still waiting to redeem my $USD SILVER CERTIFICATE FRN'S for the shiny metal.

Oh wait, did someone say my timing was a bit off? 

Sat, 04/27/2013 - 03:40 | 3505114 Oracle of Kypseli
Oracle of Kypseli's picture

The rule is that if the shoeshine boy or the elevator operator starts talking about gold intstead of the ponys, start selling

Sat, 04/27/2013 - 06:39 | 3505215 new game
new game's picture

then what? convert to? frns, lead(maybe), rice? farmland(taxes)? log cabin? water?

advice ignored.

gold is the last stop; nowhere els(IMFO)to go.

buy/hold

then, watch shit show(desparation of shit/show masters-currently ongoing, full screne 3D) and enjoy your simple choice.

end of story...

Sat, 04/27/2013 - 09:03 | 3505281 TwoShortPlanks
TwoShortPlanks's picture

Astounding, that people who frequent this site regularly STILL NOT grasp the situation to the fullest extent.

Gold is the ultimate asset untill the next financial system is up and running.

End of story indeed.

Sat, 04/27/2013 - 10:56 | 3505412 RafterManFMJ
RafterManFMJ's picture

Shoe shine boy? Elevator operator? Are you posting from 1922 through some sort of wormhole?

Fri, 04/26/2013 - 18:57 | 3504197 SilverRhino
SilverRhino's picture

That would be the British Pound Sterling.  Still going.  

Fri, 04/26/2013 - 19:19 | 3504226 akak
akak's picture

Not really --- it's only been in existence, as a purely fiat currency, for almost exactly the same time (i.e., since the early 1930s) as a number of others, such as the US and Canadian dollars or the Japanese Yen.

(In saying that, I am of course overlooking the farce of a gold standard that was the Bretton Woods System, which was stillborn and a failure from the start, as the US Treasury was constantly hemorraging gold and never managed to maintain even the nominal 25% gold backing for the US dollar that was mandated under that system.)

Fri, 04/26/2013 - 19:12 | 3504229 tmosley
tmosley's picture

Wrongo, bub.  The pound has been fiat for exactly the same amount of time as the dollar.  Prior to 1971, it was linked to the dollar, which was linked to gold.

The longest lived fiat currency in human history was the Chao (http://en.wikipedia.org/wiki/Chao_(currency)), used in China during the Mongol Yuan Dynasty.  It lasted for ~60 years, and had three bouts of hyperinflation.  Ended with a civil war and the Mongols never recovered.

The US dollar has been full fiat for 42 years now.

Sat, 04/27/2013 - 16:58 | 3506136 Ratscam
Ratscam's picture

what about the Swiss franc?

Sat, 04/27/2013 - 17:52 | 3506313 akak
akak's picture

In practice, essentially fiat since 1936, although the Swiss did maintain a very significant (~40-50%) if only quasi-official gold backing for the Swiss franc until 2000.

Sat, 04/27/2013 - 01:51 | 3505043 Me_Myself_and_I
Me_Myself_and_I's picture

But its no longer Sterling, a pound or any fraction thereof.

Just an e-paper balloon, like all fiat currencies.

Fri, 04/26/2013 - 18:51 | 3504186 Frank N. Beans
Frank N. Beans's picture

good synopsis there at the end

Fri, 04/26/2013 - 18:52 | 3504189 LuchadorChumba
LuchadorChumba's picture

If any of this is 'news' to you, then salir de mi cuadrilatero...get the hell out of my ring. I expect more from me fighters at fight club! 

Despierta! You may have gained lots of stolen booty purchasing power from my printing activities (yeah ...I know you think you earned it), but if you want to continue to wear those tight leotards, you better knock over a liquor store and comprar oro fisico. Vender su cuerpo wifes. Vender su cuerpo. Vender tu soul.

Viva El Luchador!

www.askchumba.com

Fri, 04/26/2013 - 18:56 | 3504196 PUD
PUD's picture

Why not a balanced piece listing the many reasons why one should not own gold?

I could make a list a lot longer against than anyone could make for if you like

Fri, 04/26/2013 - 19:06 | 3504201 akak
akak's picture

I want a pro-child slavery piece myself. 

Can't forget about the many benefits of releasing mercury into the environment either, or the innumerable and manifest evils of immoral "hoarding".

(Dammit, I just stepped into another PUDdle of shit!  Why do I keep doing that?)

Fri, 04/26/2013 - 19:20 | 3504246 ronaldawg
ronaldawg's picture

PUD licker - go ahead give your list - you know you are going to do it anyways.

Fri, 04/26/2013 - 20:04 | 3504383 gonetogalt
gonetogalt's picture

Every gold thread gets jacked by this guy...Don't feed the troll!

Fri, 04/26/2013 - 22:27 | 3504794 Almost Solvent
Almost Solvent's picture

Dimon has to do something with his free time, i.e. fuck with the peasants. . . 

Fri, 04/26/2013 - 18:59 | 3504204 SilverIsKing
SilverIsKing's picture

Please. I'd like to see it if you don't mind. Thanks.

Fri, 04/26/2013 - 19:18 | 3504241 PUD
PUD's picture

A million people in slavery or near slavery digging for it.

incredible damage to the environment

Child labor with some as young as 4

Violence when indigenous people protest the destruction of their culture

Mass delusion amongst goldtards who think gold cures all ills and will save them when society collapses

Destruction of irreplaceable fisheries and coral reefs because of tailings and toxic chemicals

Destruction of land that could benefit people with other sustainable uses

The cultivation of the gambling mentality particularly americans

The feeding of the wall st criminal cartels by endorsing speculative trading in things they have no business with

I have more

Fri, 04/26/2013 - 19:20 | 3504247 akak
akak's picture

Come, share my delicious baby seal steak, and you'll feel much better.

Fri, 04/26/2013 - 19:23 | 3504255 PUD
PUD's picture

I truly hope you remember these exchanges when circumstances surround you and your little suburban cocoon becomes an unlivable place.

Fri, 04/26/2013 - 19:28 | 3504261 akak
akak's picture

It's really quite delicious --- baby seal tastes almost like chicken!

Of course, the brains are the best part, but they tend to end up scattered all over the ice, and are very difficult to retrieve.  My African slave children do manage to gather most of them up, though.  It's quite impressive how motivating a good whipping can be.

Sat, 04/27/2013 - 09:20 | 3504858 markettime
markettime's picture

Gold and guns, without either we wouldn't have anything left. 

Fri, 04/26/2013 - 19:20 | 3504252 ronaldawg
ronaldawg's picture

Who cares about child labor?

Who cares about indigenous people's culture (we call them savages where I come from).

There are not sustainable uses for land that are more efficient.

Gambling?  You got to be kidding.

Let's all speculate in how much an A-hole PUD is - please vote me up!

Do NOT follow this link or you will be banned from the site!