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Peak Gold
We are rapidly approaching the end of cheap resources. The wealth of most Americans could get wiped out during the next decade due to commodity inflation. Focusing on your real purchasing power is critical. As this brief documentary discusses, what is it that makes gold so special? Merely a "tradition" as Bernanke would have us believe, or sound 'money'?
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First
Gold has integrity - that's what makes it special.
It can't be duplicated by crooks in high office.
But it can be ignored by the masses looking for something a little more utilitarian. Which makes it risky at high valuations just like everything else. It can also be manipulated and even outlawed. Fear that.
If anyone wants an investment of integrity, might I suggest turning off the TV, eating a diet low in sugars/high in fiber, getting some exercise and losing weight. Investing in yourself actaully makes everyone a winner.
<Man that was sugary sweet. >
FishGoneBad
Hmmm, sounds good Fish but seems like a lot of work. Is there an ETF of this i can buy instead?
A monster box of ASE and Maples at around $12.5k.
8 gold eagles or a monster box of silver? Hmm..Decisions, decisions...
EV,
Gold has been ignored by the masses for decades yet is has gone up by 5x in value.
Not much to fear on that front.
All you ever hear CNBC talk about is gold.
It's gold this....gold that. I wish they would just shut up.
I keep my tradition in my sock drawer....where it belongs.
As Simon Hobbs says, 'At CNBC, we're all gold, all the time.'
Had he been truthful he would have said, "At CNBC, we're all Bullshit, all the time."
Gold is not money, it is a commodity. To become money it needs to be coined and accepted as a form of payment. Before that it is a commodity with monetary attributes (store of value and stable relationship with other commodities, which makes it crucial in a portfolio when we are commodity constrained) but technically it is not money if you can not pay with it. That does not mean you should not have it in your portfolio, but Gold is only money when minted and enters the payment system. In a commodity constrainted world or precarious world, Gold operates better than paper as a store of value. If you had printing on top of that, it should have a wonderful profile. But again technically, Gold is not money.... yet.
"Gold is not money . . . . "
I'll take gold or silver over fiat any day for anything. Problem is, most sheeple are brainwashed by legal tender laws, normalcy bias, and goobermint's monopoly on violence to enforce same.
If I accept it for payment, gold is money - regardless of whether your masters say so.
Gold can be a store of value, BUT if gold is used to buy bread in your country, it is time to leave that place.
That would be like zimbabwean proclaiming "all my money is in gold, so I'm ok here in Zimbabwe". It is better to be a TSA employee in US of A with fiat than some diligent gold rich businessmen who are targets for military dictators to steal from.
If gold ever becomes used to buy bread (lots of bread), it will be time to STAY . . . . not leave.
ultraticum, I would take gold or silver instead of fiat money any day too. But that does not make Gold money. Now if it enters the payment system by more people like you and I it would become money for sure. But for now it has not entered the payment system, you could maybe argue that Gold is very close to money in Iran given what is going on with Turkey.
But hear me here, I am very much loaded with Gold and Silver, it is a better store of value than Fiat money. Fiat has all the attributes of money except the one crucial one which is store of value, while Gold has all the attributes of money except means of payment. THe fact that politicians prevent Gold from being a payment form does nothing to take away its store of value attributes, actually it is their actions which make Gold more attractive.
wrong.
Government decides what slave-tickets are to be used for taxation and forced by the central printer.
WE the people decide what money is.
Gold is money when I say it's money because I use it as such. Period.
Gold is money and even last year in Vietnam people bought & sold HOUSES using gold.
Gold = Money.
are ya gonna use 'em as weights, get all fit like Fish said, or are you in shape and see a future were you could be running with your money?
I bet you can run faster with 8 gold coins than a monster-box of silver.
I'll drink to that! And have a smoke.
Oh, fuck off.
I saw Ben Shalom blinking a lot at the key points when he was done lyin'.
'indeed, his personal medical staff must be increasing moar with every qe, as he nears ptsd... for whom his very bell tolls... whilst his krugman signs, and whistles past the graveyard... the grandest mortician is the make-up of a faustian face without a trace of disgrace, whom once past is but morrows fate undress'd albeit rehearse'd?'
Quite.
How many times a day does the average person need (as opposed to want) to use gold, or a gold product (i.e. one that must contain gold to operate) ?
I check my gold watch several times a day. It operates fine.
Yea, and my gold wisdom teeth get more use than the dust fairy using a vatican vacuum cleaner.
Gold plated electronic components
Wear my gold 1/10 oz maple ring every day.
/sarc, or did you actually have one made? Honestly I would think 0.1 oz too light are purity, too little metal for a ring except for a child.
Did you pick up your cell phone, turn on the computer or watch TV ??
You used gold AND silver. Congrats.
One of the very reasons gold is the perfect money is because it isn't used for almost anything else. It isn't consumed, it has few industrial uses (although it could but there are far cheaper substitutes).
It is used in jewelry, which can be easily converted to currency. It's used in very small amounts in other things. Otherwise it's money, pure and simple.
Utilitarian? Like I junk that come with monthly subscription?
Only illegal if you get caught.
Lumber has integrity. So has grain, and electronics. Medium of exchange is irrelevant, and that's a fact every person on the plent needs to understand. The only detail that matters is that the number of units available for exchange is limited, growing or shrinking accordingly with the number of humans on the planet and the things they produce.
only thing limited is intersection of space and time.
medium of exchange without backing of guns is powerless. well these days you can have guns and gold, but gubermints will hunt you down with a drone, while another drone lifts gold out of your house.
Thankfully someone is helping out on that drone issue:
http://beforeitsnews.com/alternative/2013/02/how-to-kill-a-drone-since-d...
How to kill a drone
Lumber, grain and electronics do not have integrity when faced with termites, rodents and water.
Gold does.
actually some electronics are fine in water - and those which can't run underwater can be dried and will work when dry. Just don't let the water cause a short-circuit during operations, that's all.
bulky lumber needs to be put somewhere and doesn't have universal exchange. It's nearly universally needed but it's too big and must be protected from humidity, rain, occupying much more space than gold.
It has its value. Its value is not typically money or people would all have warehouses of wood upon which to do trade. The size matters, the weight. It's not convenient.
I understand your point it has value & can be traded but weight, if it's a solid, ease of handling, dictate what will be a medium of exchange as much as rarity, divisible account units, durability (lumber is not, not like gold). It all matters.
'It can't be duplicated by crooks in high office.'
BUT a reasonable enough stand in can be fabricated by using tungsten cores covered in a thin layer of gold - as some would claim occurred in the 80's-90's..... good enough to fool any Congressional types visiting Fort Knox.
Not to mention the 'souveneir' coins fabricated by Chinese vendors.........
But can be duplicated by crooks in China. Gold plated tungsten on an industrial level. Virtually impossible to detect. Buyer beware.
http://www.tungsten-alloy.com/en/alloy11.htm
I'm sticking with platinum and palladium myself. Very interesting supply / demand imbalance. And too obscure for the government of counterfeiters to bother with.
Continued fake demand for gasoline-powered cars?
Never been so optimistic.... Enjoy the P's.
I hipe someone powers up a gas car around here cause this spring has been really freakin cold.
The only thing on ths planet that has a fever is Al Gore.
Platinum and palladium are the solution because unlike gold, they can't be salted or faked. </s>
You'll be sorry you said that when the sun really comes out, destroys all corn crops, much like last year. I'll bet you have no idea how endangered your food supply is. Farmers will plow 50% to 80% into the ground, brown and burned, and you'll still pretend there's no global warming. You can starve in your stupidity.
You are very optimistic. Being a pessimist I value cheaper metals like brass and lead more. They are readily available except when they aren't and they have an actual purpose for which the actual person can actually use them.
If you're talking about their value when combined into bullets, I'm with you.
magnetic slide. Tungsten can NOT act like gold in that manner. The purity, thickness, mass, matter. Once checked by the rare-earth magnet test and weight and displacement it's busted.
It's okay to be both cynical and skeptic but if you buy a fake you deserve your fate. Get a fisch scale. Stay away from bars (gold and silver kind that is.)
http://www.thefisch.com/
http://www.goldcoinbalance.com/
WTF.
I see testimonials and computer animations.
The channel scrapgolduniversity shows you testing actual gold and silver, fake and real, not 3D animations.
I'm suspicious and not going to pay for that Fisch.
Please try not to use the word integrity and those vermin in the same reply
The dirty lying thieving traitorous scum don't deserve to be in the same universe as that word
Some of them are likely the ones behind fraudulent PM products to help destabilize the market. Similar to how the North Korean currency counterfitting and money laundering was bought and paid for by crooks in high office. They probably shut it down when they weren't getting their cut.
http://www.fas.org/sgp/crs/row/RL33324.pdf
http://www.zerohedge.com/news/tungsten-filled-10-oz-gold-bar-found-middl...
Note the timing of this was during last years Sept Gold peak to kick off a big decline since then.
Bingo, and it's been around for thousands of years as a currency. If not one, then as Ron Paul said why keep it around. It's because Gold is still a currency.
Not only is gold production going to peak, silver will follow soon after. As ore grades fall, it takes more energy to produce the same or even less metal. The top Primary Silver Miner's ore grade fell again in 2012:
Largest Primary Silver Miner’s Average Yield Declines 13% In 2012http://srsroccoreport.com/fresnillos-average-silver-yield-declines-13-in...
So you're saying equities in miners will lose value in FRNs?
How about development stage miners not yet in production?
Paging Fonzannon?
He didnt say that. He said the prize of silver will go up.
Oil companies didn't go down when oil became scarcer.
true, yet the use of silver in electronics will peak too. It will need to branch further into medical / catalytic use to retain full intrinsic value
Well done, Spitter.
Noone had a decent reason to dislike you(recently) until you re-emerged as your own bad self.
[suk it]
Second!
////////////////
"Most congressional Democrats who wrote letters asking the IRS to investigate tea party and other 501(c)(4) conservative groups have fallen silent or are expressing feigned outrage that the IRS would do what they asked. But not Mr. Durbin."
http://online.wsj.com/article/SB10001424127887323728204578513011200175592.html?mod=rss_opinion_main
Some idiots just don't know when to keep their mouts shut.
The new meme in response to this atrocity is that the IRS was just going after those evil tax cheats who don't want to pay taxes for this Great Republic. Sadly, many on the Blue Team will eat it up like vanilla flavored shit. You've gotta hand it to the guys who figured out that you could divide the nation based on teams -- it works.
Its divided on principle, not team.
The state gets X. The state has to decide what to do with X. When X grows too large people earning X withdraw from participating.
It quits working.
I will bet my life savings that when it collapses the Team mentality grows stronger, not weaker.
You better hope you're on the right team then. And the winners will be those who stood on principle.
Tell me again which of the Teams of which I speak stand on principle? If you're talking about a different group, then why are you responding to my posts about the Red Team/Blue Team fight that defines 95% of America?
Well there are good principles and bad aren't there?
Tell me what your principles are again...there was a limit to be imposed by the state (Huey Long-like) on someones earnings wasn't there?...don't make me go back and grab your exact quote.
What happens when "the state" decides its only two fiddy a month is all you need to survive/subsist as they provide everything else for you?
Party on Garth.
Is there another thread where we are having this discussion?
Now I value your honesty, so don't forfeit that here, its a precious thing these days.
Have you or have you not advocated for "progressive" taxation up to the point of, no one is allowed, by the state...to earn as much as they legally can?
That is, at a certain amount (I believe your number was 100 million) anything over a 100 million would be taxed at 100%.
This is a yes or no question...
Yes, assets above $100M should be taxed at 100% upon death. Otherwise, we have princes, princesses, Queens, Kings, oligarchs, etc. Ask Monaco. P.S. Gotta go. Wife thinks it's Saturday night and we should go have a drink or something and I shouldn't sit here and debate on ZH. I know.
Hopefully her name isn't Ayn Rand, then your avatar name takes on a whole nother context.
ha!
Assets, not earnings...thank you for your honesty.
The 100 million figure stuck in my head.
So it is your opinion that someone who has spent a lifetime of work and accumulates 100 million in assets forfeits anything over 100 million to the state upon death?
Why...because the state is a better distributer of a persons wealth than the one who earned it in the first place would be?
Governments are well known for racking up huge debts in case you haven't observed.
The Carnegie, Mellon, Annenburg etc. institutes will be most displeased with your framing them as princes, princesses, Queens, Kings and oligarchs.
But what "team" are they on now? ;-)
Koch sucker.
It was the state using the IRS against the TP that set you off afterall...lol.
Enjoy your dinner/drinks...and think about the "poor suffering masses" while you do ;-)
Wow, he really went all "Ad Hominem" on you nmewn.
Hey, look at me everyone, I learned how to use a "BIG" word in the proper context today.
I'm so proud of myself, big pat on the back there Pure Evil!
lol...I think we can call that a "principled" meltdown & KO in the fifth round ;-)
////////////////
But where was I before I hijacked the thread and got into a slap fight with LTER?...ahhh yes...the leftist-statist comfort zone.
A place where they are above the rule of law. A place where Lois Lerner can say (almost with a straight face) that it was just "poor customer service" about a governmental entity that uses deadly force & property/asset confiscation in its daily practices.
The kings deer.
A place where, Douglas Shulman (Lois Burner, ahem, Lerner) boss can mockingly say to our representatives that he visited the WH 158 times solely for Easter Egg rolls as they get ready to implememnt IRS oversight of ObamaCare, your health insurance. The last IRS head visited once...apparently that one hated the Easter Bunny we must suspect.
The court jester.
A place where, the EPA head can have her own surreptitious private email account to keep conversations away from public scrutiny (Lisa Jackson posing as...Richard Windsor) and then go to work for Apple when busted.
The spurned handmaiden.
What about members of Congress using insider leverage to get their chunk?
And I would support that 100% if you get rid of ALL charitable trusts as well.
Are you mad? Taxation upon death is stealing from the dead and families.
Taxation at 100% is slavery.
It doesn't matter what number you pick: inflation will quickly change to make it a number we can all hit.
You don't get queens, princesses, etc., from large inheritance. They have ROYAL blood and are decreed to be kings, queens, princesses, etc., by their lineage.
Nobody has a clue how this will play out. But everybody has an opinion. and as fox news has taught us, you can bleat your opinion all day, who cares about facts, and alot of morons will absorb it like mindless sponges.
What's gonna happen when the collapse hits? In my opinion, the rich protect themselves and continue to steal assets, everyone else is totally fucked. How will that happen? idk
Or, the rich, being mere Judas Goats, get their asses handed to them again and demand and (time it right then) a bunch of pissed of cats intercept the bailout.
red / blue?
It will be "hungry / other"
sorry to surprise you if that was a surprise.
... no I'm not.
Wake the fuck up. Red / blue ; left/right are illusions.
The teams will be divided into HUNGRY and OTHER. Come on now, it's so obvious.
I'd like to see Durbin and Biden in a debate with any 5th grader.
I'd like to see squire nmewn and Biden shoot over & unders off Bidens balcony and debate Durbin on the finer points of the First Amendment as it relates to the private sector.
My money is on squire.
///////////////
At least five silent, sulking losers so far ;-)
And yet still no further comment on swearing under oath TWICE that taxes are VOLUNTARY.
http://youtu.be/I_aQbr6d_Js
That would be me ;-)
Two morons.
Bernanke and Timothy Geithner, or Bernanke and Jack Lew?
I'm up voting and down voting contradictory statements on here. I just "go with the flow" and vote whichever direction feels right.
GOLD BITCHEZ!!
you may have been first or second BUT I got the gold :)
Tangible and immutable.
Gold is like honesty and trust, hard to come by, invaluable when you find it.
Gold has no alligience to any flag...
Brilliant!!
DaddyO
Contrast the nature of that form of money with the nature of the US Dollar today, and the way the FED manages it. As testified by former chairman Volcker:
Honesty and trust is normally what is needed to build credibility, so credibility is one more thing that is
Yet the FED is gambling it all away, as warned by Paul Volcker.
Who wants to experience the consequences first hand and who wants to take their destiny in their own hands?
They can't print it so they surpress its price, but they can't surpress its real value.
If that's what you call it. Why not just say the low demand is naturally driving the price down? Why does it always have to be manipulated? Would you part with your gold for $2000/oz?
Low demand contradicts the high volume of purchases of physical gold so no, saying low demand is the reason, is happening at all, is nonsense.
And no, I won't part with my gold at 2000/oz. I will part with it for a good valued tangible item or a much-needed service. I can play the paper game to get fiatbux using options. GLD calls out to 2015 would be good value but are fairly high priced compared to the same linear difference of break-even to estimated matching silver, and slv price, using slv calls out to 2015. Those seem remarkably underpriced. If you'd prefer shorting the trade the puts are equally underpriced.
The use of gold has grown up alongside large scale trade. Efficient cross border trade requires a standard unit of account. If you take gold out of global trade, it becomes a drag on the trade system. It opens the door to too many corruptions and inefficiencies. You have to have a standard unit of account that does not change and has value everywhere beyond politics and borders. The Dollar, like all fiat, cannot be that unit of exchange for very long before it proves it is no exception to history.
This is what Dr Mahathir was proposing some years ago to stop insane balancesdeveloping between nations and I agree.
The problem is that poor old Gadaffi fell foul of the fiat masters.
Ah, Malaysia ?
I love Malaysia , I have friends from Kota baru but I think they r in KL now
To get back to gold, for the first time I have had associates ask me about buying significant amounts of gold. People I know as friends of friends...
This can b taken in different ways but I see it as increasing awareness hopefully to feed demand
GOLD ANALYTICS
https://docs.google.com/file/d/0B16Nxp5pgJBzT3kwc1B5dEhNc1E/edit?usp=sharing
In 1939, a Pina Colada in New York City cost 5 cents. http://www.youtube.com/watch?v=WgqRN40TXrE. Haven't been there in a while, but I'm guessing you're looking at $20 today.
The price increase is nearly all local labor and limited real-estate, most likely.
So there's somewhere I can still buy a Pina Coloda for 5 cents? And real estate was not limited in NYC in 1939?
In 1902 an ounce of gold could rent you a nice two bedroom apt. Today -- still does except in NY.
What about in 2002? $300/month?
I was there. I got laughed at.......a LOT!!!
You can't convince the general populace about the value of holding gold any more than you can convince them not to smoke.
The wake up call will come with the collapse of the system as it happens with the diagnosis of cancer.
History will be repeated but timing can be frustrating for us humans .
Smoking trends since the 60s
http://www.cdc.gov/tobacco/data_statistics/tables/trends/cig_smoking/index.htm
I've always thought of smoking as just a particularly slow, dirty and expensive form of suicide.
Why anyone ever starts smoking is a complete mystery to me, and a devastating reflection of the inherent insanity of mankind.
I guess because it's relaxing, and breaks up an otherwise monotonous day into segments.
Some don't care if they die 10 years earlier rather than spend those last 10 years drooling and with alzheimer's in an old peoples home.
People say smoking is a cost to society. This isn't necessarily the case; several European studies have shown smokers actually put more into the system (through the huge taxes on ciggies) and dying at an earlier age.
Cheers
+20
Maybe, but I see pts all the time who, after 40 years of smoking, once diagnosed with lung cancer, finally stop smoking and insist on receiving every expensive treatment/ surgery/radiation/chemo. Even though none of those are likely to do much besides extend their life for a few painful and uncomfortable weeks or maybe months if they're lucky. On the other hand, I see plenty of healthy 80-90 yr olds who live happy lives without alzheimers, until one night they pass away in their sleep.
perhaps the bias is that you see patients, people who have something wrong with them.
There's plenty of 80 and 90 year olds who have no cancer and smoke. They know their time is due because they're old. No reason to worry about smoking at that age.
Some say its sucking on your mothers nipple again....
A real stress reliever. :0
AKAK, for the first time, I am taken aback by your comment. I almost always get a kick out of your comments going all the way back to Kitco and Nadler.(I emailed that douche directly) Do you have a temperature? Why would you have a problem with tobacco users? We are all going to die my friend. And for as hard as you fight online, do you really think we can overtake those who are fools? I will smoke a cigarette if I want to and don't worry about me dying off just yet.
Manipuflation, I do not have a problem with tobacco smokers per se, I have a problem with tobacco smoking (as in cigarettes) itself, which by any rational and objective measure is patently self-destructive with, from all that I can see, little if any redeeming qualities other than the assuaging of the insecure teenaged needs for mindless rebellion and social acceptance . I have no desire to see smoking banned, and in fact fought (unsuccessfully) a local measure several years ago to ban smoking in restaurants and bars, but the proven negative health effects of smoking are legion and undeniable, and all of that for what? A few seconds of so-called "relaxation"? Funny how I manage to relax any number of times on a daily basis without the need for inhaling poisons into my lungs.
I have a neighbor in his early 60s who is suffering from and slowing dying from emphysema brought on of course by smoking, who just last week had to have one of his legs amputated due to an arterial disease also caused by his smoking.
I hope that he feels that the cost to his wallet, to his family, to his diminished length of life, and to the diminished quality of his remaining life were worth it.
No, sorry, but I have to stand by my assertion: smoking is both self-destructive and irrational.
AKAK, you almost sound like you care about me. I appreciate your concern my friend. You are akak and have been a friend of liberty for a very long time now. It really sucks akak, but I am going to die, as are we all. If you choose not to smoke than kudos to you. It's a little too late for me now although I do have an E-cig now. I respect your opinion akak and I think you know that. You are a great blogger who has earned his place. I am not going to quit smoking. If I did quit smoking, the entire economy might collapse due to lack of tax revenue. Hmm... now that you mention it......
Just so you know, I am not a poser.
http://www.youtube.com/watch?v=luPtaLx2VnQ
Peace akak
Manip,
Sorry if I came across rather harsh and judgemental, but my views on smoking are what they are. Again, though, I feel the need to express my firm belief in one's individual right to smoke unhindered by governmental force or other coercion, and that includes in any form of private establishment such as a restaurant or bar, which despite the woefully ignorant asserations of so many latter-day statists are NOT 'public establishments', and whose owners should and do have the absolute right to decide whether their patrons should be allowed to smoke therein or not, just as any individual has the right to decide whether guests may smoke in their own homes or not.
I'll oppose your assertion. The daily stresses of facing social & economic bullshit leaves me with only smoking as a way to relax. Even a beer, sleep, a walk, doesn't do it quite right.
Tobacco fakz:
Nicotine is a very effective neurotransmitter enhancer- helps span the synapses- so the sparks fly faster and more efficiently. For habitual smokers, the effect is hardly noticeable, but for occasional or ceremonial smokers, the sudden clarity of vision, thought, and emotive power is quite noticeable.The effect lasts about ten minutes, which is long enough to make a good decision.
This is why smoking is still allowed in cockpits, and why people in stressful circumstances (soldiers) like to smoke.
Ingterstingly enough, the active ingredient in marijuanna, THC, binds only to receptors in the brain that are otherwise only active when we are in the womb- yes, pot smoking brings back to us a sensation of being in the womb. Perhaps this is a nice place to crawl back to when things get dodgy, but I suspect survival rates for pot smokers in stresful or life-threatening environments will be lower than those of the more active and clear-headed tobacco smokers.
That's not true - THC binds to the anandamide receptors which regulate a lot of things, one of which is memory storage.
You could say the same of many vices & I'd bet your chance of serious injury or death is higher from driving a car.
.
Do I really have to live forever to pay MOAR taxes?
Well-done video. Not sure I agree with the 'gold as investment' thesis, which in my mind implies risk. Gold is simply a mechanism to store your past economically-related efforts...it's risk-free savings.
But FOFOA says it better from many perspectives in this 21 min video:
"What is Freegold?"
http://www.youtube.com/watch?feature=player_embedded&v=74ynFnitLeo
I agree, gold should be seen as one of the best forms of inflation protected wealth although there will be periods when that adjustment either outperforms or underperforms inflation. This also depends on the degree of manipulation or even outright attacks on gold as we are witnessing in India.
Because it's been in an uptrend people confuse it as an investment. And it is still rising and will revalue much higher, but in the end it's portable, storable wealth. It's rising because its real function has been forgotten.
Risk is in every choice & refusal to take action is still a choice.
Gold's risk as bullion is that someone could take it, you could be forced to run so fast (for your life) you leave it behind or that you need cash up front faster than gold can trade for it (very near-term).
Gold is like pussy - everyone wants it.
Thankfully my gold does not require constant washing.
Use your tongue on either one. You will be richly rewarded.
False. I get laughed at on a regular basis when I tell people to buy gold.
More like gold is like internet porn in that many partake in it but no one talks about it at work.
http://www.rferl.org/content/russia-aircraft-carrier-mediterranean/25004...
Russian Aircraft Carrier To Be Active In Mediterranean This YearRussian Navy Commander Admiral Viktor Chirkov says Russia’s only heavy aircraft carrier, the "Admiral Kuznetsov," will be ready to act as part of a naval group in the Mediterranean Sea by the end of 2013.
The ship entered drydock in 2012 to be upgraded and wasn’t scheduled for a relaunch until 2017.
Turkish police truck runs over protesters...
http://www.youtube.com/watch?v=sbYQ_dzFniY
My question is how many ounces of gold should a person purchase to feel secure. I am looking for a person with less than 100,000 salary.
10 , 20 , 50 , 100 ????
Take the total known supply of gold in existence, divide by the most recent world population estimate, and multiply by 10.
Every fucking ounce you can get your hands on without starving to death.
Diversifying into silver as well would be wise,
Faber is still buying after many years of buying. I hope that answers your question.
Or another to put it is this......don't save in fiat unless you plan to go into the confetti business at some stage in your life.
How much money do you need a month?
If you need $1400/month , then you need 12 coins for each year of your remaining survival timeline.
(Don't hold me to it, it's just a way to think about it.)
Gold or Silver?
Gold is held as a sovereign reserve asset, silver is not. That said, silver may have some stunning gains, but due to its valuable industrial utility, it will kill certain industries if it goes too high.
Sir...You win. What a great way to put it. Gold maintains its buying power no matter what happens....incredible. May I use this logic and steal your sentance?
"coins" is not helpful. ounces or grams - and gold or silver coins?
The question was about gold. Gold coins are about $1400/oz. I thought it was self evident.
You know something is awry when there’s a gold buying shop every quarter mile trying to give you fiat for gold, but, the only places that will exchange currencies are banking centers and pubic airports.
Bloody good observation.
+1
And, many of these recent cash 4 gold joints won't sell you any gold, only buy it from you.
*EDIT (I think they don't sell gold because if the average Joe walking into these cash 4 gold joints saw what the retail value was, he probably wouldn't sell it for pennies on the dollar)
Most of these are total burn shops but I do get a kick out the way that they are one man and the dancing guy with the sign has to watch the door and come in to do the transaction should a sucker ,I mean customer show up.
+1 for "pubic airports"
Peak peak. Peak oil, peak gas, peak gold, peak water, peak peak.
Take heart my friend, peak stupidity is still some distance away.