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Which Is A Bigger "Act Of Faith" - Owning Gold Or Stocks?

Tyler Durden's picture




 

In its latest gold hit piece, the WSJ almost tried to actually do something today's financial media used to do once upon a time: investigative reporting. Instead, it falls back to doing something the financial media has become quite great at when spinning someone's propaganda: presenting opinion as fact.

Case in point, Jason Zweig writes that "Gold is supposed to be a haven amid hard times and soft money. So why, even as Greece has defaulted, the euro has sunk against the dollar, and the Chinese stock market has stumbled, has gold been sitting there like a pet rock?"

This "report" came just one day after China lied that it had increased its pet rock, pardon, gold holdings by 604 tons or a whopping 57% (lied not that it had increased its gold but that it did so in one month when the price of gold actually tumbled, and lied that its actual gold holdings are now only 1658 tons):

 

... but told the truth why it is doing so at a time when faith in China's central planning crumbling as a result of its burst stock bubble. This is how China's SAFE explained the move:

Gold as a special asset, with multiple attributes... to help regulate and optimize the overall risk-return characteristics of international reserves portfolio. From the perspective of long-term and strategic perspective [gold helps with] reserve portfolio allocation, safety, liquidity and increasing the value of international reserve assets.

And as Bloomberg added:

  • PBOC SAYS GOLD RESERVE INCREASE AIMS TO ENSURE SECURITY

Perhaps Mr. Zweig should ask the country with the $26 trillion in bank deposits, more than double the US, why it picked a gold reserve increase as the symbolic move needed to "ensure security" as well as increase "safety and liquidity."

And since the WSJ will do none of that, it has decided instead to do what the mainstream always does when "analyzing" gold - lash out at "gold bugs", i.e., those who buy gold in times of stress... like the central bank of the world's biggest and fastest growing nation for example:

Recognize, too, that gold bugs—the people who believe in owning the yellow metal no matter what—often resemble the subjects of a laboratory experiment on the psychology of cognitive dissonance.

 

When you are in the grip of cognitive dissonance, anything that could be regarded as evidence that you might be wrong becomes proof that you must be right. If, for instance, massive money-printing by central banks hasn’t ignited apocalyptic inflation, that doesn’t mean it won’t. That means it is more likely than ever to happen—someday.

Zweig then takes it up a level: 'You don’t want to be one of these people, spending years telling reality that it is wrong. There is a case to be made for owning gold, but it speaks in a whisper, not in the shouts of doomsday so customary among gold bugs."

What is ironic, of course, is that it is the WSJ whose job is to rationalize how reality is wrong, because day after day we get reports how the economy is strong and getting better (except when it snows, of course, or when GDP needs double seasonal adjustments when it is below expected), and in the meantime one thing never mentioned is that the only thing keeping the system erect is that in 2015 the world will see the biggest intervention yet by central banks in the world's history, surpassing even the peak of the financial crisis...

... which is also why equity values are where they are: central banks have made sure there is nothing besides stocks that is left to buy - not our words, those of both evil gold bugs Morgan Stanley and Citigroup. Naturally, to "reporters" like Zweig, all one needs to evaluate the state of the economy is the manipulated level of the S&P 500 (ignore the $22 trillion in central bank liquidity injections that pushed it to that level) and the rest falls into place. For those who question that approach, they are promptly labeled gold bugs, and "you don't want to be one of these people."

There is some more gold-bashing in Zweig's piece which readers can read on their own, but here is the punchline:

With greenhorns in gold starting to figure all this out, the price has gotten tarnished. It is time to call owning gold what it is: an act of faith.

Now that is odd, because it was just a few months ago that Citigroup said exactly the same thing about owning stocks!

.... investors remain united in their faith in the central banks – if not for their ability to create growth, then at least in their ability to push up asset prices. And yet the limits of that faith are increasingly on display. Not only are there signs of trouble at individual corporates on the ground. There is also a growing realization that the central bankers themselves – be it the ECB today, or the past and present Chairs of the Fed – subscribe to different theologies.

 

For now and for next year, we think the grip of the Inner Party seems firm, and (provided they are prepared to wield it) liquidity will keep pushing up prices. But whereas Orwell’s processes of Learning and Understanding led inevitably to an ending involving Acceptance and Reintegration, the real world’s liquidity addiction feels to us merely like the end of a chapter.

Ironic that even Citigroup dares to mock the Inner Party and its Thought police in this case manifested dutifully by Mr. Zweig.

To be sure, there is little point in trying to point out to well-paid public relations agents and access reporters posting as the "journalists" that make up the WSJ's "economics" vertical (which proudly showcases such case examples as Jon Hilsenrath, who is less concerned with the sanity of goldbugs and more with why America's "stingy" proles refuse to spend money they don't have) that while his philosophical ramblings on gold completely miss the point, he is actually is spot on to point out that in world of quadrillions in financial assets ...

  • Over-the-Counter derivatives, notional amounts: $692 trillion at year-end 2014, per the BIS. For comparison, this figure was $72 trillion in 1998.
  • Global real estate: $180 trillion, according to global real-estate services provider Savills.
  • Global debt market, both securities and other forms of debt: $161 trillion at year-end 2014, per the Institute for International Finance’s Capital Markets Monitor. According to the Bank of International Settlements (BIS), debt securities make up $95 trillion of this total.
  • Global equities: $64 trillion, per the World Federation of Exchanges.
  • Global M1 money supply: $24 trillion at year-end 2013, per the World Bank.
  • Gold: $6.8 trillion at year-end 2013, according to the Thompson Reuters GFMS Gold Survey.

 

... physical gold is the only one without counterpaty risk.

There is also little point in pointing out to a WSJ "economics" reporter that by onboarding $22 trillion in risk, the "bad bank" hedge funds formerly known as central banks have explicitly made the quantification of counterparty risk impossible, which is precisely why to those not blinded by ideology, and whose view of the world is contingent on not spooking advertisers such as Wall Street's biggest banks, explaining anything is a moot point.

However, since the WSJ was once a good medium of "investigative" journalism, here is a hint. Instead of devolving to name calling and passing off ideological diatribes as analytics work, here is something you can actualy investigate.

As Zero Hedge first reported several weeks ago, it was none other than the Office of the Currency Comptroller who reported that not only did JPM blatantly corner the commodity market in the first quarter of 2015 as shown in the chart below (even as gold derivatives were unexpectedly and mysteriously lumped in with FX/currency instead of "pet rocks")...

 

... but at the same time Citigroup also cornered the "Precious Metals" market:

 

So here's a thought Jason: instead of quoting a Barclays analyst why "a lot of investors have become disillusioned with gold" and why "safe-haven demand hasn’t been strong enough to lift prices, but has only been strong enough to keep them from falling", maybe you can try to figure out why that is the case.

Start by making a few phone calls to Citi or JPM and find out why their commodity/precious metal derivatives exploded as they did - as can be factually seen in the OCC's Q1 report - at a time when gold has not only not risen following a surge in global risk, but has tumbled to its lowest value since 2010.

Because that's what actual "reporters" do - they report, something the WSJ may have forgotten.

 

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Sun, 07/19/2015 - 12:00 | 6329449 Chuck Knoblauch
Chuck Knoblauch's picture

The ancient Romans were still going to the Coliseum when the barbarians entered the gates.

People will have faith until they are shot in a ditch.

The oligarch's crosshairs are on you.

Sun, 07/19/2015 - 12:10 | 6329466 nuubee
nuubee's picture

That's not the question you should be asking. The question you should be asking is why should faith be required at all?

Sun, 07/19/2015 - 12:14 | 6329476 Chuck Knoblauch
Chuck Knoblauch's picture

It's a coping mechanism for the weak.

Sun, 07/19/2015 - 12:41 | 6329504 Xibalba
Xibalba's picture

I wouldn't go that far.  The same same argument could be made for those relying on 'logic'; as the author has so obviously done.  Logic leaves room for error, and it's quite possible to logically come to the wrong conclusion, so it is not absolute but relative.    Using your 'weak vs strong' thesis - Acceptance of absolute truth, and conforming one's life to 'it' (like gravity, or gold) is 'strong'... living in deception of it is 'weak'.  Trying to bend reality to one's own is 'weak'. 

 

 

 

 

Instead, early realize... there is no spoon

Sun, 07/19/2015 - 13:22 | 6329643 Theosebes Goodfellow
Theosebes Goodfellow's picture

~"(Faith)It's a coping mechanism for the weak."~

Don't believe in much, eh?

Look, first off, I like "pet rocks".

Second, it's an element, not a rock.

Third, I have had several of these said pet rocks, but alas, they have not a one learned to swim when I go boating.

Fourth, in choosing betwixt stawks and pet rocks, one has no counter-party, the other is just paper.

And lastly, chix dig pet rocks. Really. They do. Ask one, you'll see.

Sun, 07/19/2015 - 13:22 | 6329645 Billy the Poet
Billy the Poet's picture

I really on logic. If I'm hungry I look in the fridge because logic tells me that I went shopping yesterday and that I placed the food in the fridge to keep it fresh. I might make a mistake on occasion; maybe I thought I had ketchup when I really didn't but I'm still far better off than those who refuse to use logic and who look for scraps under the sofa or in a hall closet when they get hungry.

Sun, 07/19/2015 - 12:35 | 6329522 All_Your_Base
All_Your_Base's picture

If your brain were like a processor, then faith would be like the heat sink.

Sun, 07/19/2015 - 13:21 | 6329636 Son of Loki
Son of Loki's picture

Bankers and Brokers Hate gold because they can't charge their fat commissions on it. Plus, gold is held as a store of long term wealth preservation, not anpother flipping thing-a-ma-jig.

Sun, 07/19/2015 - 13:53 | 6329705 Hail Spode
Hail Spode's picture

Yes, and all of us are weak. Some are just too proud to admit it.

Sun, 07/19/2015 - 13:03 | 6329593 Perimetr
Perimetr's picture

A bigger act of faith is reading the Wall Street Journal.

Sun, 07/19/2015 - 15:47 | 6330056 Fun Facts
Fun Facts's picture

and the WSJ fish wrapper would never mention Central Bank open market operations as the cause for gold's pet rock status or someone would get fired.

Sun, 07/19/2015 - 19:10 | 6330536 MontgomeryScott
MontgomeryScott's picture

When reading propaganda, it is good to know the source.

On May 2, 2007, News Corporation made an unsolicited takeover bid for Dow Jones, offering US$60 a share for stock that had been selling for US$33 a share. The Bancroft family, which controlled more than 60% of the voting stock, at first rejected the offer, but later reconsidered its position.[25]

Three months later, on August 1, 2007, News Corporation and Dow Jones entered into a definitive merger agreement.[26] The US$5 billion sale added The Wall Street Journal to Rupert Murdoch's news empire, which already included Fox News Channel, financial network unit and London's The Times, and locally within New York, the New York Post, along with Fox flagship station WNYW (Channel 5) and MyNetworkTV flagship WWOR (Channel 9).[27]

AND:

The Journal, along with its parent Dow Jones & Company, was among the businesses News Corporation spun off in 2013 as the new News Corp.

A bigger act of faith is BELEIVING THE WALL STREET JOURNAL.

Sun, 07/19/2015 - 13:17 | 6329616 F0ster
F0ster's picture

The central banks know that unlike almost every other commodity the lower the price of PMs go the fewer people want to buy them as a store a value. Because central banks reley on the trading nature of the investing public being fed horse shit like this WSJ article to feed their counterintuitive behavior. PMs act this way because they are not commodities, they are the REAL money that has been propagandized as a 'commodity' and only a select few know this and possess the critical thinking capacity to see through the bullshittery, namely, the 'gold bugs' (of which I say proudly I am one) and those other tin foil hat wearers... The Central Banks.

Sun, 07/19/2015 - 13:45 | 6329695 daveO
daveO's picture

If you're aren't being called names these days, you aren't touch w/ reality. 'They' know it, too. That's why I'm a gold bug, conspiracy nut, racist. 

Sun, 07/19/2015 - 19:19 | 6330552 MontgomeryScott
MontgomeryScott's picture

Tin-foil-hat-wearing preppers and 'separatists' (like me) are feeling rather offended because they weren't included in your list, you know.

Sun, 07/19/2015 - 13:55 | 6329709 Pareto
Pareto's picture

+1 and +100 for the term "bullshittery".

 

beautiful thing

Sun, 07/19/2015 - 12:29 | 6329510 silver_stacker
silver_stacker's picture

Speaking of the ancient Romans, gold and silver have been real money for over 5,000 years. Every fiat currency system in history has collapsed...all 600 of them. We are in the final stages of our current fiat system. We buy precious metals because of a lack of faith in the current corrupt system that is collapsing. Those who invest in stocks or any paper based assets at this stage of the game have blind faith in a collapsing sytem.

Sun, 07/19/2015 - 14:23 | 6329758 Chuck Knoblauch
Chuck Knoblauch's picture

Barbarians only took gold and silver from the Romans.

They would have killed you if you offered them an IOU.

I'm amazed that nothing has changed in 6,000 years.

Sun, 07/19/2015 - 12:46 | 6329548 wchild
wchild's picture

Five reasons for the fall of the great dynasty

By WKChild, wchildblog.com

What we are witnessing is in fact an Oligarchy “setup” that was planned Centuries ago when the Money Changers sold their souls to the Devil (quite literally, I believe). The US Constitution is the only thing on the Planet that stands in their way of total, Global control, and THAT is why we see an all-out attack on it, the Bill of Rights, and the systematic dismantling of our society and moral fiber. We have become a dumbed down, doped up, freeloading/dependent society and it is very much on purpose.

While reading this, keep in mind what fate that has befallen societies before us…

More than 200 years ago, 1787, Edward Gibbon wrote a book called Decline and Fall of the Roman Empire. For 20 years he studied the Roman Empire trying to find out how a nation or an empire could be so great and then suddenly collapse. How could that happen? It's hard not to think of our country when you read the five reasons he came up with.

Five reasons for the fall of the great dynasty.

  • First: Rapid increase of divorce, with the undermining of the sanctity of the home, which is the basis of society.
  • Second: Higher and higher taxes; the spending of money for bread and celebrations.
  • Third: The mad craze for pleasure, sports becoming every year more exciting and more brutal.
  • Fourth: The building of gigantic armaments, when the real enemy was within; the decadence of the people.
  • Fifth: The decay of religion; faith fading into mere form, losing touch with life, and becoming impotent to guide it.

 

To understand who, watch the best historical documentary I have ever seen here: http://larouchepac.com/node/11851

Gold and silver were such powerful money during the founding of the United States of America that the founding fathers declared that only gold or silver coins can be "money" in America.

What followed was nothing short of an amazing “takeover” read:

The Coming Battle
By M.W. Walbert
First published in 1899, republished for the first time in 100 years! The Coming Battle documents from congressional records, newspaper reports and writings by the founding fathers and others, a chronology of events long forgotten that shaped our fledgling nation from 1776 to 1899. Read about the manipulation of our money and its supply, the intentional creation of recessions, depressions and panics, the manipulation of the stock markets, and the demonetization of silver.

Read excerpts from all the chapters

A breathtaking history told in the words of a contemporary witness to these events.The complete early histories of the creation of the Federal Reserve. This masterpiece reveals how the banking money power and corporate interests, partnering with government, set up a framework to exploit American workers.

Lost for 100 years!

You can buy it here:

http://www.newswithviewsstore.com/mm5/merchant.mvc?Screen=PROD&Store_Code=NWVS&Product_Code=B1

What followed on the monetary front is documented very well by G. Edward Griffin, in “The Creature From Jekyll Island” and of course led to the ratification of “The Federal Reserve”

You can buy this on Amazon…

 

Now for a little on the “HOW” they usurped the minds of the people, first watch this:

Your Indoctrination

http://www.youtube.com/watch?v=O7z_hd7k9zo

Then this…

The Secret History of Western Education [Charlotte Iserbyt - Full]

http://www.youtube.com/watch?annotation_id=annotation_925736&feature=iv&src_vid=ldkAuUgSjdQ&v=R2RWgVRfaSE

 

Then read all about the deliberate dumbing down of America here: http://www.deliberatedumbingdown.com/

Fri, 07/24/2015 - 13:15 | 6349611 Mercuryquicksilver
Mercuryquicksilver's picture

Thanks for the reading suggestions. I intend to follow up on each one if I havent already read it. Check out

When Money Dies: The Nightmare of the Weimar Collapse by ADAM FERGUSSON if you get a chance. There is a pdf version floating around internets if you search deep enough.
Sun, 07/19/2015 - 12:03 | 6329454 Wary Hanger
Wary Hanger's picture

Faith No More

Sun, 07/19/2015 - 12:48 | 6329559 automaton
automaton's picture

"Superhero" was definitely written to honor Bernanke.

Sun, 07/19/2015 - 13:21 | 6329637 Deathrips
Deathrips's picture

"Edge of the World" Is a much more precise explanation by Faith No More.

https://www.youtube.com/watch?v=hWlViQSnsrE&list=RDhWlViQSnsrE

RIPS

Sun, 07/19/2015 - 12:06 | 6329459 Rodders75
Rodders75's picture

I really want to say BTFD in gold. But Janet hasn't got my back so WTFP  (what's the fucking point?)

Sun, 07/19/2015 - 12:06 | 6329460 chosen
chosen's picture

So far, the central banks have succeeded in propping up the stock market.  The big question is how long can they continue to do it.  Remember, your profits aren't real until you sell.  As for gold, it is pretty much a useless commodity. I think rats and some birds like shiny stuff.  An AK-47 and plenty of ammo is much more useful if the economic shit hits the fan.

Sun, 07/19/2015 - 12:20 | 6329490 Consuelo
Consuelo's picture

How does 7.62 dipped in salsa for dinner, taste...?   72 hours without food, water & fuel and/or major breaks in the distribution chain that supply all (3), will fill you in rather abruptly, on just what is 'useful' and what isn't.    Then again, if you're the type who thinks he'll just rove the community with a Norinco and take what you please, good luck...

 

 

 

 

Sun, 07/19/2015 - 13:34 | 6329673 Omega_Man
Omega_Man's picture

Well you can hunt for deer, rabbits with a .22, you can even eat squirrels if you have taken a survival course. They are sure easier to catch with a gun. 

I plan to hunt deer this year, first time. 100 pds of meat for a $20 license. 

Sun, 07/19/2015 - 14:05 | 6329727 lakecity55
lakecity55's picture

I found a stash of .22 shorts the other day. I bought all I could. Perfect in a tubular magazine. Lots of squirrels for the pot!

Geeze, I have not seen the .22 shorts since before I joined the army as a kid.

Sun, 07/19/2015 - 12:32 | 6329508 Latitude25
Latitude25's picture

Sailboats equipped for world cruising are the most useful.

At sea in a storm you should have one of these;

http://www.jordanseriesdrogue.com/D_4_m1.htm

And for days of trouble free stearing this is a must have:

http://www.capehorn.com/sections/Pages/superlatives.htm

Sun, 07/19/2015 - 12:36 | 6329524 KJWqonfo7
KJWqonfo7's picture

Zombies dont swim.

Sun, 07/19/2015 - 12:37 | 6329526 Cloud9.5
Cloud9.5's picture

Guns and gold are not an either or proposition.  If I could only afford one or the other I would buy the gun.  There is no doubt in the first phase of collapse anarchy will rule and predators will abound.  In those circumstances an AK has distinct utility.  It is generally cheaper than other AR permutations, and it tends to work every time you pull the trigger. Fernando Aguirre in his book Surviving Economic Collapse advises people to arm themselves to ward off robbers, kidnappers and home invaders.  He suggests a good concealable 9mm, shotguns and submachine guns as well as the garden variety assault rifles.   He also discusses the black markets that spring up and how people use bits and pieces of gold jewelry to make everyday purchases. Should you find yourself in need of an appendectomy or antibiotics a fifty dollar gold piece may very well get you what you need.   When it comes to survival, those that tend to make it through the first few weeks become quick studies on what is required under the new paradigm.  Gold and silver seem to find a place when the money dies.

 

 

http://www.amazon.com/The-Modern-Survival-Manual-Surviving/dp/9870563457

Sun, 07/19/2015 - 13:14 | 6329622 Omega_Man
Omega_Man's picture

I find the SKS a much better deal, they are like  $150 and I have 1400 rd boxes for $200, plus you can get AK mags if you choose, but they are fast to load . So they are much cheaper and more accurate due to longer barrel. Same ammo as AK. Plus they have a very imposing bayonet permanently fixed that folds into the gun. 

nice and you can have several for the price of an AK. Plus it looks like a hunting rifle, no hassels from bad boy AK looks.

Go for the SKS today! 

Sun, 07/19/2015 - 14:02 | 6329720 lakecity55
lakecity55's picture

Well, if you go with an SKS, get a Russian from one of their armories at a gun show. The PRC SKS look like a beaver machined the receiver. Just MHO.

The SAIGA Kalashnikov, last version produced by Kalashnikov, is the smoothest of all. I have a shit load of these east Bloc rifles, but I trained, trained, and fought with the M16/AR15. Go with what you are trained on. I did an armory school on them, so I keep a lot of spare parts.

For any bad guys banging on the door late at night, though, I have a Stoeger tactical shotgun.

Deer I take with a .270 Savage or a Marlin 45-70govt.

Sun, 07/19/2015 - 14:16 | 6329749 Omega_Man
Omega_Man's picture

I have a WW2 K98 Mauser with the markings, cool, but ammo is expensive. SKS is so nice and cheap. I would like a daniel defence, but can buy a lot of silver for that kind of money. I have a knock off SCAR clone 22 for rabbits. I like tactical but everyone goes ape shit  when they see a gun that looks 'tactical' I am sure they will try and ban them first. 

Sun, 07/19/2015 - 18:52 | 6330499 MontgomeryScott
MontgomeryScott's picture

I see people bragging about weapon ownership.

I see the targets that they paint on their own heads, as well.

PAY FUCKING ATTENTION! For GOD'S SAKE, people, don't fucking broadcast it! You can't do shit with an SKS against a couple of MRAPs, and an AH-62 equipped with Sidewindwers. Why don't you just give them your fucking addresses, for fuck sakes?

No food stored here. No water either. No medical supplies. No metals. No guns. No ammo either. No night vision, no scopes, no reloading stuff, no toilet paper (exept for the 3 rolls in the bathroom). I TRUST THE GOVERNMENT to take care of me. What's a 'PPD'?

<S> ON:

WELL, I actually DO have a big 'gun', but I'm not gonna show it off in public. Dealing with fainting women and jealous men isn't my preferred activity...

Sun, 07/19/2015 - 15:29 | 6329990 Cloud9.5
Cloud9.5's picture

They are a better deal and a fine little rifle.  I paid $300 for a Chi Com version last weekend.

Sun, 07/19/2015 - 13:55 | 6329711 lakecity55
lakecity55's picture

I read that piece some time ago-- very useful, as is Ferfal's book. I can't get it back from my old CO so I took his SAS survial book as hostage.

Sun, 07/19/2015 - 13:39 | 6329672 Md4
Md4's picture

Respectfully,

Until you run out of $50 gold pieces, and still need things...

...THEN what?

Use an AK to steal someone else's stash?

Tangible, productive assets, used to actually MAKE things with which to barter is the only way to go. THEN, use the AK to protect those.

It's fine for PM to appreciate in value as fiat faith (and worth) decline.

But, until someone can guarantee post-crash purchasing power, my money is going into PRODUCTIVE assets. After all, who will you be giving that gold coin to?

A producer.

In the whacky California gold rush of the 1840's, it was the bastards who sold the tools of looniness (picks, pans, and shovels), to the crazed nuts looking for that big nugget, who got rich.

m

Sun, 07/19/2015 - 14:10 | 6329737 Ballin D
Ballin D's picture

Agreed.  Gold is for store of wealth.  If you have $10M that you dont want to risk complete evaporation, consider owning some portion of that in physical gold locked away in a bunker.

 

For surviving SHTF -> uninteresting guns with common ammo, food, water, fuel, fire, batteries, antibiotics, etc.  In excess for barter. Dont pull the gold out until youre ready to restore that wealth back to currency.

Sun, 07/19/2015 - 14:29 | 6329774 Omega_Man
Omega_Man's picture

don't forget tools......

Sun, 07/19/2015 - 12:49 | 6329562 Omega_Man
Omega_Man's picture

well an AK MAY come in handy, but good to have both. 

If I have gold and AK, and you have only an AK, you are still not getting my gold. 

I can trade legally, you will have to steal to eat... which will get you 6 ft under.

Sun, 07/19/2015 - 13:17 | 6329629 Abitdodgie
Abitdodgie's picture

You wll trade Lawfully , legally wil have no standing then.

Sun, 07/19/2015 - 18:03 | 6330411 chosen
chosen's picture

I wouldn't want your gold.  You will be stealing to eat too.  If the food is protected by weaponry, then move on, find some sap who has gold and food but has no protection.  Take the food.

Sun, 07/19/2015 - 13:07 | 6329605 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

Au has been useless for an awful long time.   It's so damn useless that Central banks world wide use(less) it to settle accounts.  Wars are fought to attain it, (ask Gaddafi - never mind he's dead) because it is useless.

The big investment banks throw it out in the alleys behind their buildings because the useless shite clogs up their vaults.  I wonder if someone could trade gold for weapons and ammo?; probably not it's useless.

Sun, 07/19/2015 - 12:13 | 6329471 Consuelo
Consuelo's picture

 

 

I think enough time (and S&P gains) have passed since (late 2007/2008 - 2011), to essentially 'erase' all connection between what is now, and what was, in the minds of the likes of Mr. Zweig.   There's also a certain cock-suredness that goes along with this kind of attitude, but that's expected.   In other words, when the next smack-down comes, Mr. Zweig's of the world are safe in the knowledge that:

'No one could have seen this coming'...  

Sun, 07/19/2015 - 12:43 | 6329541 GRDguy
GRDguy's picture

All you need to know is who signs Zweig checks. Then you know who owns him.

Sun, 07/19/2015 - 13:52 | 6329704 lakecity55
lakecity55's picture

Another member of the Tribe, I would guess.

"Zweig! Get in here! Look at these reports!"
"Well, Mr Nudelstein, it looks like a lot of silver is being sold."
"Don't just stand there like a schlep! Go knock out a barbarous relic story!"

Sun, 07/19/2015 - 12:13 | 6329472 Latitude25
Latitude25's picture

Great article ZH.  A revelation of the cracks and holes in the MSM stories.

Sun, 07/19/2015 - 12:14 | 6329473 This is it
This is it's picture

Owning gold of course. With that said, hammer time starts in a few short hours.

Sun, 07/19/2015 - 12:16 | 6329477 bardot63
bardot63's picture

An OK article, as far as it goes, but any analysis of the gold market price that does not include at least one sentence explaining that "official price" is manipulated by "paper gold selling" thru the futures market on behalf of govrnments attempting to protect paper money, and that said paper gold is conjured up out of thin air, and represents a minimum of 100:1 ratio of paper to physical  - such an article is just not worth writing -- or reading.

Sun, 07/19/2015 - 12:19 | 6329478 Latitude25
Latitude25's picture

Silver is for buying bread in times of crisis.  Gold is for buying the bakery.

The planned reset must be close becasue the manipulation is going exponential.

Sun, 07/19/2015 - 12:47 | 6329551 Omega_Man
Omega_Man's picture

My silver will buy the bakery. 

Sun, 07/19/2015 - 12:57 | 6329579 Latitude25
Latitude25's picture

Hope you don't get a hernia moving it around.

Sun, 07/19/2015 - 13:08 | 6329606 Omega_Man
Omega_Man's picture

I have a large extended GMC van and dollies, I will manage. Also it is hard to steal much of it. 

The theif will have a hard time running with 8 lb RCM bars. They can't carry many. Much harder to steal than gold. 

Sun, 07/19/2015 - 13:20 | 6329635 Midas
Midas's picture

Those 8 lb RCM bars are works of art.  I hunch over them and hiss, "My precious, so shiny.  Mr. Yellen tries to get my precious."

Sun, 07/19/2015 - 13:29 | 6329663 Deathrips
Deathrips's picture

When 1 ounce of silver is traded for 1-5 ounce of gold...it wont matter whats heavier. FOFOA is an idiot..silver is money throughought history in many main cultures. FOFOA assumes that the game against the stealers of mans blood through fiat is unwinnable and the chosenites will always get their way.

Mainstrean and the eurocolonialist chosenites talk about gold stacking indians....do they even know that Rupee means SILVER? In Spainish Plata/ money is synonymous with SILVER. China was on a SILVER standard and that standard was one of the main reasons for the opium wars waged by Britian. (thanks Charles Sevoie)

 

As far as fungible units to store value...i always pick silver over gold. My NICKELS will buy bread, My Silver will buy a bakery, My gold will just sit there till i get somthing that i find more valuable for it....like more silver. This must be why i sold gold at 80/1 GSR and am just fine with it....

 

RIPS

Sun, 07/19/2015 - 13:31 | 6329669 Omega_Man
Omega_Man's picture

you forgot pound sterling (silver) 

Sun, 07/19/2015 - 13:30 | 6329664 Omega_Man
Omega_Man's picture

hahah Preciousssssss

Sun, 07/19/2015 - 13:43 | 6329693 Deathrips
Deathrips's picture

When insolvent Britian STOLE from India and China to fill the collateral to their currency ...it bought them some years..but ended the same it will end this time. Remember how that story of British Reserve Currency ended.  Didnt forget about sterling pound, just dont fire all my bullets at the same time lately. It works great with parrots and sheep. They say something akin to "is that all you got?" As they think they are winning a debate....then you hit them over the head with more facts. Theres more if you look that call silver money....

Disclaimer..this will not get you more friends...but will sure as fuck mess their mind up.

 

Im watching those Geiger 8Lb bars myself.

 

My Chaco ATB rounds would be traded for spot silver if i could retrieve them from the river...

Kayaks, Surf Boards and Boats were not meant to go with silver.

Sun, 07/19/2015 - 12:18 | 6329482 GoldenDonuts
GoldenDonuts's picture

Owning gold is an act of no faith.  No faith in government, banking, or big business.  Owning gold is a middle finger to tptb

Sun, 07/19/2015 - 12:19 | 6329484 GRDguy
GRDguy's picture

This is just another example why I cancelled my Wall Street Journal subscription years ago.  I used to read it religiously until I finally figured out they were lying to me.  No, not everything is a lie. Remember, in order for a lie to be believed, 9/10 of it must be true.  YOU have to figure out the 1/10th in the WSJ.  Especially after it became owned by Murdoch.  Puts WSJ right in the same class as the English rags he owns.

Sun, 07/19/2015 - 12:22 | 6329494 Latitude25
Latitude25's picture

MSM propaganda is notable for its omission of facts.

Sun, 07/19/2015 - 12:29 | 6329513 Sages wife
Sages wife's picture

Precisely, it's not what they say that's telling, but what they don't say. Ironic indeed.

Sun, 07/19/2015 - 13:12 | 6329615 BurningFuld
BurningFuld's picture

The guy that wrote the article is most likely up to his eyeballs in debt and could never afford to have a store of gold. Thus, he puts it down.

Sun, 07/19/2015 - 12:22 | 6329495 yogibear
yogibear's picture

The same people rigging the game are the ones writing the articles. What do you expect.

It's in their interest to write the playbook and direct the herd.

Sun, 07/19/2015 - 12:20 | 6329487 YouThePeople
YouThePeople's picture

Real faith or blind?

Sun, 07/19/2015 - 12:20 | 6329488 magnumpk
magnumpk's picture

News from the front:  The coin dealer by my office is out of silver.  Someone just came in this past week and bought everything he had.  Must have been "one of those people."

Sun, 07/19/2015 - 12:50 | 6329566 Omega_Man
Omega_Man's picture

where did that fuktard come from?

Sun, 07/19/2015 - 13:22 | 6329644 Abitdodgie
Abitdodgie's picture

The coin dealer n North Dakota has about a two month waiting list for silver.

Sun, 07/19/2015 - 12:24 | 6329499 Rubbish
Rubbish's picture

We have to be honest, the shorters are in control until we devourer supply. We will test $1,010, save your powder, lets get there quick then load up.

 

Gold Bitchez....I pick up pennies

Sun, 07/19/2015 - 13:46 | 6329696 lakecity55
lakecity55's picture

I'm buying now. I'm afraid of scarcity if it goes a lot lower.

Sun, 07/19/2015 - 12:26 | 6329502 Catullus
Catullus's picture

Thing is, you needed $500 to buy an oz about 10 years ago. Now you need $1200. Where's the congitive dissonance in that?

It's like history began a half an hour ago for this guy.

Sun, 07/19/2015 - 13:13 | 6329621 Herodotus
Herodotus's picture

He isn't too bright.  That is why he is a reporter.  His father must have married a cheerleader or the homecoming queen.

Sun, 07/19/2015 - 12:27 | 6329505 Omega_Man
Omega_Man's picture

Do Goy actually believe this cabal "reporting"?... Shame on the Goy

Sun, 07/19/2015 - 12:29 | 6329511 Pareto
Pareto's picture

'You don’t want to be one of these peoplespending years telling reality that it is wrong.There is a case to be made for owning gold, but it speaks in a whisper, not in the shouts of doomsday so customary among gold bugs."

 

I know of no one who does this.  I guess if you own ANY  PMs, you are a gold bug - which if you think about it, is a fucktard thing to say since, we own a lot of things.  And yet as soon as you might express doubt about fiat, given the batshit crazy CB policies being executed around the world, then "oh you're a fucking gold bug."  Fuck off WSJ.

You know, what the WSJ doesn't write is that as interest rates remain zero bound nominally, and real rates negative, that what Centrsal Banks are really doing is signaling to the world that fiat isn't worth fuck all!!  For that is the implication!  You are better off holding ANYTHING other than the very thing the WSJ contends we ought to have faith in!  To put all your eggs into one basket (stocks), implies a hopeful expectation that you can actually get all of it back.

Yet how often has it happened before, where people have sunk their life savings into "drinking the koolaid", only to see it vanish right before their eyes.  WSJ doesn't talk about that though - do they.  Fuckers.

The thing is - faith aint got nothing to do with it.  The reality is simple.  Fiat is being abused and manipulated and capital dislocated everywhere.  This is fact. And to ignore this fact by keeping the faith invites, if nothing else, a very narrow minded perception of reality that is rather pretentious and untouchable but that even the smallets error in this judgement (expected value) will be costly.

Sorry WSJ, but, I think I will shop around awhile.  I aint buying what you're selling.

Sun, 07/19/2015 - 12:36 | 6329525 Mini-Me
Mini-Me's picture

When the reset happens, a lot of the paper wealth will vanish, but the tangible assets will still be there.  

Those with fiat will be standing in food lines.  They are the ones who read articles like the one in the WSJ and swallow the lie whole.  They will be SOL.

Those with real money will have the means to purchase those real assets at bargain basement prices: land, factories, houses.  Do you want to be selling your things in order to survive, or buying them in order to thrive?

Sun, 07/19/2015 - 13:42 | 6329692 Omega_Man
Omega_Man's picture

yes I am picking out the properties I want to buy now. I also see a lot of firms hiring appraisers such as myself to inventory what they plan on buying for a bargain. There are a lot of these firms preparing...

Sun, 07/19/2015 - 12:38 | 6329531 BullyDog
BullyDog's picture

Being referred to as crazy by the double speaking sociopathic banks who fund wars for control of the yellow,  is like being called a bully by your infant child for holding their hand whilst crossing the road.

Sun, 07/19/2015 - 12:39 | 6329532 BarkingCat
BarkingCat's picture

Almost a decade ago my opinion was that gold does not have any real intrinsic value. Only what we assign to it. That opinion still stands.

However as the debate in my head progressed I realized that if the ancient Greek and Romans and Egyptians  saw it as valuable as well as all European and Middle Eastern civilizations in between then and today, who am I to argue with that history.

People love their precious. Yes, you can play the markets and invest in real estate and get wealthy, but gold is that one asset that you can get you hands on and put it away. Do with it as you will later on. It will always have value.

The real estate is very visible and taxable by local government whether it produces income or not. It has many other risks also (lawsuits for one).

Owning shares of a public corporation traded on one of the stock market gives you an actual fraction of ownership of such corporation and your fortune can rise when that corporation does well. You fortunes can also go down to zero. Especially when outright fraud and theft are not punished.

Precious is a good thing to own.

It is value stored in a compact form.

Sun, 07/19/2015 - 12:43 | 6329540 Omega_Man
Omega_Man's picture

"real intrinsic value. Only what we assign to it"

 

Well that is how anything is valued.

Sun, 07/19/2015 - 18:28 | 6330450 TheAnswerIs42
TheAnswerIs42's picture

"Well that is how anything is valued."

The big question to consider is "how".

On the one hand we have  gold, which after several millennia, has attained a certain "value".

Then we have FRN's (or whatever Fiat you prefer), which after several decades, have also attained a certain "value".

One odd thing which I have managed to notice, is that Fiat while only lasts a few decades, whereas gold, well it's just gold.

Reminds me of the bedrock which my foundation sits on, it ain't never gonna change and it will always do what it's supposed to do, which is support the whole g*damned house no matter what.

 

Sun, 07/19/2015 - 12:59 | 6329584 Bluntly Put
Bluntly Put's picture

One of the most important characteristics of money is that it be scarce. Currency created from credit/debt isn't scarce now as banks have been able to issue unsecured credit via derivatives and electronic accounting makes it even easier.

Currency loses it's value in direct proportion to it's quantity without a corresponding increase in productivity reflected in wage increases. In our system debasement of our currency translates into financial asset price inflation instead of tangible things like cars, TV sets or even gold and silver prices since the financial system absorbs the inflation.

They can only maintain these cyclical booms and busts for so long before something irreparably breaks. Then everyone returns to real money and all the credit/debt shenagins begin anew pyramiding once again off real money, i.e. gold and silver.

Sun, 07/19/2015 - 12:45 | 6329544 Omega_Man
Omega_Man's picture

WSJ thinks we are all simple minded fucktards for owning gold! 

So I guess I am on the side of Russia and China, I don't mind. 

Sun, 07/19/2015 - 13:15 | 6329625 rejected
rejected's picture

All bankers love gold. The more they can convince the plebs to avoid it,,, the more there is for them. Most gold is owned by the central banks and governments.

Sun, 07/19/2015 - 13:30 | 6329667 sagitarius
sagitarius's picture

this wa salso my first tought:

to whom did WSJ address the nonsense?

Who, they think, believes that stupidity?

what desperation..

Sun, 07/19/2015 - 13:40 | 6329691 lakecity55
lakecity55's picture

Xi!

Hello, Vlad, how's it hangin?

Long and low! Say did you see this WSJ story?

Yes, I am concernned. Perhaps both our contries should dump all our gold!!

(Both): Hahahahahhahhaa!

Sun, 07/19/2015 - 12:48 | 6329557 Bluntly Put
Bluntly Put's picture

Over-the-Counter derivatives, notional amounts: $692 trillion at year-end 2014, per the BIS. For comparison, this figure was $72 trillion in 1998

Wow, that's crazy that is a 15% annual increase yoy. In another 10 years that will work out to be roughly $2,800 trillion. I doubt the system can maintain that growth rate. What happens when the shadow financial system can't absorb that rate of growth?

.

Sun, 07/19/2015 - 12:50 | 6329564 Seasmoke
Seasmoke's picture

How come I never see Mr. Johnson. Smith or Jones ever writing this propaganda ........ Hmmmm.

Sun, 07/19/2015 - 12:53 | 6329573 Omega_Man
Omega_Man's picture

I gues they ditched the murano names

Sun, 07/19/2015 - 12:51 | 6329567 Omega_Man
Omega_Man's picture

I love this "act of faith" crap,,, isn't that how we got a fiat dollar in the first place?

Sun, 07/19/2015 - 12:53 | 6329570 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

OK, so if you have an affinity for a hard asset that has been recognized as a viable medium of trade for millennia--then you are a gold "bug".  Since the antithesis of gold is paper and cotton(FRNs), then our good

mensch , Mr. Zweig, must be a cock roach or boll weevil, considering his affinities. 

Sun, 07/19/2015 - 13:38 | 6329683 lakecity55
lakecity55's picture

Zweig...Zweig...could he be one of Them?

Sun, 07/19/2015 - 12:54 | 6329574 Hubbs
Hubbs's picture

The short answer: "We'll find out."

Sun, 07/19/2015 - 12:56 | 6329576 Omega_Man
Omega_Man's picture

I know a lot of ZHer's don't like the Bible but the trick was the same then. In the temple Roman silver coins were exchanged for worthless shekels. They were requred to be exchanged to do business in the temple. 

Jesus overturned the money changers table. That is the only place where the money changers could exact the rules of exchanging real money for fake. 

Same thing is happening today. Who will tip over the table?

Sun, 07/19/2015 - 13:15 | 6329624 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

Most of the developed world has now become the temple.  When this table gets tipped over it's gonna make a helluva racket.

Sun, 07/19/2015 - 13:18 | 6329630 nopalito
nopalito's picture

Your cat?

Sun, 07/19/2015 - 13:28 | 6329659 Omega_Man
Omega_Man's picture

Actually this is grumpy the cat, do a search, his owner has contracts for $100 million. I like it cause it is a good example of how the world is insane. 

Sun, 07/19/2015 - 13:35 | 6329677 lakecity55
lakecity55's picture

Damn, they were at it even back then. I though the Lord overthrew the tables 'cause they were demanding high prices for the shekels and dealing on the Temple porch.

I never knew they were being forced to buy shekels hammered out of thin air!

Synagogue of Satan. Jesus was right, as usual.

Sun, 07/19/2015 - 13:57 | 6329716 Omega_Man
Omega_Man's picture

Yes, many of the true teachings of Jesus were overlooked or obscrued . Also Jesus was from Galiliee, this area was a place where the people were forced to convert to Judiasm, they were not considered to be 'real' jews and were shunned. This place was considered to be a rebel area. Jesus was a real rebel. So it's not so bad to be a rebel is it? So was Washington. 

Sun, 07/19/2015 - 12:58 | 6329580 ItsDanger
ItsDanger's picture

I still remember the clowns on Fast Money pitching coal stocks at their highs several yrs ago.  Its been a steady decline ever since.  Its just an opinion article.  If anything it should be viewed as a positive for gold.  But if the markets are indeed mostly manipulated these days, the price really doesnt matter and can continue for some time.  Only external forces can stop it.

Sun, 07/19/2015 - 12:59 | 6329585 SilverFish
SilverFish's picture

If you own gold or silver because you think it's going to make you rich (or richer), you're doing it wrong.

 

It's to protect you from the big rubber fist that's coming (sometime soon....I think) for everyone that trusts in paper.........that's all it is.

Sun, 07/19/2015 - 13:04 | 6329596 Omega_Man
Omega_Man's picture

well, if you maintain your wealth with gold silver, and everyone around you has none and their paper goes to zero - then you are rich comparatively. 

Sun, 07/19/2015 - 13:20 | 6329634 SilverFish
SilverFish's picture

This is true. I guess it all depends how people value precious metals after a currency collapse. It could go apeshit on the plus side, or it could go the other way, where before the collapse, you could exchange 2oz of silver for a decent used car, but after the collapse, you might only get a car and a half for that same 2oz. So many variables to consider, but yeah, rich by comparison.....for sure. At any rate, it's still better than suiciding yourself because you just watched your life savings go from 100 mph to zero in the blink of an eye.

Sun, 07/19/2015 - 13:26 | 6329653 Omega_Man
Omega_Man's picture

When trading with someone the value shall be what the seller or buyer decide on, or how bad they need something.

If one has a car but no food, and food is purchased in silver only at that time.... well I guess the silver is worth a lot to the guy with the car. Same for land, buildings, real estate. These will not be productive economic assets when the economy tanks. Then you trade your silver for these momentary non productive assets. In the years that follow you shall own all nice commerical real estate and be the big man when the economy comes back and new fiat is created. 

Sun, 07/19/2015 - 15:40 | 6330025 Global Douche
Global Douche's picture

You're among those that truly "get it!" If I could give you 1,000 upvotes, you'd gotten them now. I would rather trade PMs for certain large assets than dealing with the fiat headaches of having converted what I stacked. Likely, these same parties will be wanting the PMs one has, so it's a matter of cutting to the chase.

Sun, 07/19/2015 - 13:09 | 6329607 rejected
rejected's picture

Aside from the fact that gold has uses fiat doesn't gold also is dependent upon faith. For someone to take your gold in trade they have to believe it has value and that it will be useful to them,,, otherwise they would never accept it... as with most everything.

Sun, 07/19/2015 - 15:34 | 6330001 Global Douche
Global Douche's picture

I certainly don't see it that way, except to be sceptical if one may be dealing with counterfeit crooks. I don't want to buy a bunch of gold-plated tungsten, yet I believe there will be n00bz to this when the "pinch time" comes with nary a clue. If they're not trading with someone reputable, they'll get pwn3d!

Sun, 07/19/2015 - 13:21 | 6329638 luna_man
luna_man's picture

 

 

Just curious, how many pieces of the precious, is jason zweig, stashing?

 

if only I could keep all that I find, I'd have plenty

Sun, 07/19/2015 - 13:21 | 6329641 Omega_Man
Omega_Man's picture

he is prob a buyer for JPM on the side

Sun, 07/19/2015 - 13:27 | 6329656 Bastiat
Bastiat's picture

Especially given this WSJ article, we can expect the hammer overnight. 

Sun, 07/19/2015 - 13:37 | 6329681 Omega_Man
Omega_Man's picture

In a Fiat age, the only time  for gold and silver to be as money is a time like now in history. So funny how the powers that be want us to forget it, or never learn it. 

When the masses gradually learn, and shift in this direction, then pile in - it's gonna be amazing to watch. 

Sun, 07/19/2015 - 15:23 | 6329954 Global Douche
Global Douche's picture

Yes sir! ESPECIALLY near the top when the Crowd becomes obsessed with it and swears the Party they've just attended shall go on and on and on. That's the time to sell them what they want! I've seen parabolas not only in PM's but cryptocurrencies as well. It'll be history repeating itself, something Mr. Z either doesn't understand or is well-paid to ignore the obvious.

Sun, 07/19/2015 - 13:41 | 6329684 SMC
SMC's picture

Interesting propaganda.

Perhaps the virtual "rubber band" holding the allegedly rigged market of paper over physical is about to snap.  ROFL!

Sun, 07/19/2015 - 13:48 | 6329700 Omega_Man
Omega_Man's picture

Better to sell the BMW or Porsche now and put it in silver, later you can buy the same one back cheap! 

Sun, 07/19/2015 - 14:17 | 6329707 Lin S
Lin S's picture

Another ZHer already said it elsewhere but I'll repeat it (paraphrasing), the average Joe is entirely preoccupied with completely trivial things, and has no understanding of FRB, the Fed, PMs, FOREX, et cetera.

Let me share the following true story.

Since 2008 I've had multiple colleagues and an accountant ask me what I know about precious metals, where's a reputable and trustworthy dealer, and so on. I tell them about the guys in L.A. I like and then they ask, "can I go with you next time you buy or sell?" Sure, I say, and even set up an appointment so the senior partner can set aside 45 minutes to explain why PMs are a good idea and many of the topics in my first paragraph, above.

Several of them have gone with me since then, here's how it worked out. We chat on the drive over, the Fed, U.S. national, state, municipal, and private sector debt, nature of fiat, Keynes, you name it. Meet with my PM guy who spends a LOT of time answering all their questions, then:

Colleague A: converts a large percentage of his savings to PMs, mostly Ag. A few years later, he sells off all his silver Eagles, and buys a speed boat.

Colleague B: listens intently, asks solid questions, takes copious notes. Buys nothing, returns to our office, pours even more money into her 403b.

Colleague C: listens intently, asks solid questions, but takes no notes. Converts most of her savings to PMs, hasn't sold anything since, buys a little on dips. She is now retired (retired early so she makes a lot less, and lives a simple, modest life near Seattle).

Colleague D: has $16,000 to spend back when PMs were $1K spot. So she goes, doesn't listen very well, takes no notes, buys a single gold Philharmonic. Puts the remaining $15K into paying down her mortgage, which remains high to this day. Later, when Au is nearing $2K spot, she gets angry with me, demanding to know, "why didn't you TELL ME PMs were going to go up!?"

She has since rented the condo out and moved to Houston, where she bought a new house.

Sun, 07/19/2015 - 14:24 | 6329766 TeethVillage88s
TeethVillage88s's picture

You obviously know more about it than me.

I don't trust salesmen and so have never had a good discussion about Finances or PM. I can't even imagine having a nice long discussion with anyone in my small city based on just a few stores that deal in coins.

I'm pretty much out of Investing. The few stories I have told of my failures get big judgements from people. They say Keynes ended up rich somehow, so maybe he knew how to short the market or prepare for a collapse(maybe he took bribes though).

Unfortunately is emotional once I invest.

But as you know AG & AU are not investments to everyone, maybe a store of wealth, or maybe currency in a crisis, maybe something to stabilize your wealth in Inflation.

I am asking when I would be a buyer for AG & AU if prices keep declining. $900 for gold? $10 for silver.

I'm a little tired. Not sure would buy gold chain jewelery to try to divvy out in a barter situation, since I don't trust sellers very well. Maybe if test kits are cheap, they are for peace of mind.

Does your seller have a gun that can test gold? Do you trust minted coins more than bars? Since small bars might be hard to counterfeit, seems like safe low premium.

But don't listen to me on this stuff.

Mon, 07/20/2015 - 02:16 | 6331527 Lin S
Lin S's picture

I've got chat enabled now, let's talk there. I'll give you contact info.

(Though please be advised, I'm no expert. But we can discuss...)

Sun, 07/19/2015 - 14:19 | 6329753 Omega_Man
Omega_Man's picture

Instead of this article I have written a more succinct version. 

You must have faith the FED and Yellen, to not have such faith is unAmerican and pro Putin.

I command ye Goy to worship at the alter of the FED 

Sun, 07/19/2015 - 15:18 | 6329935 Hilroy
Hilroy's picture

Isn't it still easier to assay precious metals than paper and digital currency?

Sun, 07/19/2015 - 15:33 | 6329999 Md4
Md4's picture

M1A carbine.

Tried and true.

m

Sun, 07/19/2015 - 16:08 | 6330123 Cloud9.5
Cloud9.5's picture

Good rifle.  Right now I am playing with 458 SOCOM.

Sun, 07/19/2015 - 18:13 | 6330430 RMolineaux
RMolineaux's picture

Strictly speaking, a carbine is not a rifle.  But it is relatively light and durable, although not very accurate.  If you are into military stuff, I recommend a Springfield 03.  Accurate and durable, although bolt action - not very fast.  But I assume you are not planning to make a war.

Sun, 07/19/2015 - 18:26 | 6330461 Gothic Optimism
Gothic Optimism's picture

I can't get a gun no matter how hard I try. As a practioner of Iaido and Kendo, I own two very reliable sharp Katanas, no registration required. Up close and personal even in confined spaces. I may not survive in long term but there will be a few armless and headless home invaders along the way. HAI! I will be back,I am eternal.

Sun, 07/19/2015 - 16:12 | 6330141 coast
coast's picture

Stocks will crash, we all know that, we just dont know when...so maybe short term you can make some money, but you hve to wake every day in terror wondering if this is the day....Precious metals could be outlawed, thus the police state was set up...IMHO, just have Jesus in your heart and mind, if you have enough money have firearms and ammo, grow your own food if you can, dont take vaccines or eat gmo food if possible etc.  You know the drill.

Sun, 07/19/2015 - 17:40 | 6330338 HYMN
HYMN's picture

Nice article, lots of facts and figures, even threw in some opinion but only about the reporter that wasn't reporting merely parroting. You did a good job politely showing him "where the bear shits in the buckwheat" Yes why would two of the big guys all of a sudden like "Pet Rocks"? And why are central banks net buyers.? Who does this guy hope he's fooling, guess he does what is demanded of him to get(not earn) a pay check. Anyone with an IQ equal to Forrest Gump knows his report is bullshit. He oughta do a better job of shoveling it, since he's given up on investigative journalism.  But a really good article by the way.

Sun, 07/19/2015 - 18:05 | 6330416 RMolineaux
RMolineaux's picture

Ever since Murdock took over, the quaity of reporting at the WSJ has plummeted.  I attribute this to the dislike a competent journalist will feel when told what to write, especially if he disagrees with it.  Could it be that JPM and Citi are now into commodities, both physical and derivitives, in anticipation of a drop off in UST bonds when the Fed raises interest rates?  In any case, for those commentators looking for reliable sellers of PM's, I recommend Kitco.  Always reliable.

Sun, 07/19/2015 - 18:19 | 6330443 Gothic Optimism
Gothic Optimism's picture

Since when did the Government and the Banks ever told the truth?

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