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The Math Behind Italy's 28,000 "Cash For Gold" Outlets

Tyler Durden's picture





 

Via Mike Krieger of Liberty Blitzkrieg blog,

A couple of weeks ago I wrote about how the Portuguese citizenry was being forced to sell its gold in order to eat.  It seems that the Italians have now joined this illustrious club.  I mean what do you expect when you allow Goldman Sachs to impose technocrat dictator Mario “Three Card” Monti as your political leader?  Here are some excerpts from an article in The Globe and Mail:

Times are now so tough that Valerio Novelli, a ticket inspector on Rome’s buses, is planning to sell his old gold teeth.

 

“I can’t get to the end of the month without running up debts,” said Mr. Novelli, 56, who has to support an ex-wife and daughter. “I know I won’t get much, but I need the money.”

 

In a country suffering from economic crisis, buying gold off desperate people has become one of the few boom industries.

 

“Since I was a child I remember that gold was given as a gift on various occasions and people used to say: ‘Put it aside’,” said Ivana Ciabatti, who represents gold– and silversmiths at employers’ lobby Confindustria.

 

“We used to laugh at it, but they turned out to be right. Many families are surviving thanks to this gold.”

So people are barely surviving based on the gold passed down from generation to generation, yet the mainstream media here in the U.S. continues to mock gold constantly.  Got it.  How about this last line from the article:

The pawnbrokers, by contrast, can hardly keep up with business. They normally have the gold quickly melted down and sent abroad, making it one of Italy’s fastest growing exports. Official gold sales to Switzerland leaped 65 per cent last year to 120 tonnes, up from 73 tonnes in 2010 and 64 tonnes in 2009.

That’s not just gold being exported, that is wealth being exported.  China says thanks.  At least you protected your bankster class from taking a hit on their bond portfolios.

Meanwhile, this whole theme fits in perfectly with an article from The Telegraph yesterday with the fitting title “Unilever Sees ‘Return to Poverty’ in Europe.”  That article begins with:

Aug. 27 (Telegraph) – Unilever will adopt marketing strategies used in developing countries in order to drive future growth in Europe.

Then we find out that Unilever will market to Europeans like they do to Indonesians:

“In Indonesia, we sell individual packs of shampoo for 2 to 3 cents and still make decent money,” said Mr Zijderveld. “We know how to do that, but in Europe we have forgotten in the years before the crisis.”

Once again, at least the banksters got bailed out at 100 cents on the dollar.  No wonder the elites laugh at the sheeple.

Read The Globe and Mail article here.

Read The Telegraph article here.

 


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Wed, 08/29/2012 - 18:04 | Link to Comment john39
john39's picture

sickening.... theft by fiat (currency).

Wed, 08/29/2012 - 18:13 | Link to Comment ACP
ACP's picture

Won't be too long before the Federal Govt starts raiding pawn shops and stealing the gold on some BS trumped-up federal violations.

Wed, 08/29/2012 - 18:17 | Link to Comment Pladizow
Pladizow's picture

It started with those sneaky Mario Bro's collecting all those coins!

Wed, 08/29/2012 - 18:41 | Link to Comment malikai
malikai's picture

Damnit. You said that and immediately I heard the sound when you get a coin in the game. Over and over and over again.

On second thought, maybe I should just play that sound every time I get back from the local coin shop.

Wed, 08/29/2012 - 20:38 | Link to Comment flacon
flacon's picture

"“I can’t get to the end of the month without running up debts,” said Mr. Novelli, 56, who has to support an ex-wife and daughter."

 

When one gets divorced the contract is VOID. Forcing an x-spouse to slave away to support their "x" is unethical. 

 

"I swear by my life, and my love of it, that I will never live for the sake of another (wo)man, nor ask another (wo)man to live for mine." ~ Ayn Rand

 

Oh, and here's his daughter.... 

 

Is stealing wrong? Two daughters steal money from a 9yo girl selling girl scout cookies. No remorse. 

http://www.youtube.com/watch?v=UzLGuJt8Qbg

 

Wed, 08/29/2012 - 23:50 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

I sure wish I could find a rock to bump my head against and gold coins would come flying out......

Thu, 08/30/2012 - 05:19 | Link to Comment old naughty
old naughty's picture

Wait, wait...

are you implying TPTB is behind all those cash-for-gold outlets?

They are hording gold from muppets?

No wonder they manipulate the price down...

Thu, 08/30/2012 - 05:29 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

BLASPHEMY!!!! WITCHCRAFT!!!!!!

 

BURN THIS GODLESS!!!!!

 

/sarc ;)

Wed, 08/29/2012 - 18:54 | Link to Comment TruthInSunshine
TruthInSunshine's picture

When the Italian citizenry run out of gold, they'll start selling their organs.

Make no mistake about this, it's not Germany that's literally raping the catastrophically indebted nations whose "elected governmental bodies" were bought off by the banksters, but rather, it's the banksters that are doing the raping.

If Germany does capitulate in attempting to bail out the indebted basket cases of the EU, not only will it not succeed (as you can only stretch the German population so thin before it breaks in an attempt to have 1 solvent German bail out the equivalent of 8 deeply indebted individuals in other nations), but it will produce a cascade of consequences that will be far more devastating to its economy than the lesser of two evils, which would be to cut the cord.

3 lessons:

1)   Take necessary medicine to treat serious infections early, as nasty as the medicine may be, in order to increase the odds of survival over the long term;

2)   Never make a deal with the devil;

3)   If your elected representatives try or do make a deal with the devil, invalidate it by mass consensus via the 'Icelandic' model.

 

If we ever get to a point in the U.S. where the Fed is taking the next step beyond the current currency swap arrangements with the ECB and various other entities atempting to mitigate against the EU Debtocaplypse, we'll know that the banksters have successfully prompted the Fed to transfer the exposure of firms such as JP Morgan & Goldman to the EU crisis onto U.S. taxpayers (in addition to the many and very massive other risks that have been transferred during the last 4 years).

Wed, 08/29/2012 - 19:08 | Link to Comment CH1
CH1's picture

4) Any system that makes you choose between evils is a system that you should abandon.

Wed, 08/29/2012 - 19:36 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Just as with Corzine/MF Global vaporizing client funds, we've heard nothing about the criminal racketeering that took place (and still is) regarding LiborGate lately - oh wait, the Senate panel "overseeing" the Fed has given another extension to the New York Branch of the Mother Whore Federal Reserve to turn over documents regarding their knowing that Libor rates were being fixed back in 2008 and communications pertaining thereto.

LiborGate has effectively taken a huge chunk out of the ass of many municipalities in the U.S., pension funds, and individual nations in the EU, as well, by allowing de facto insolvent banks to be propped up (allowing them to project a far better image of their situation than raw reality would present), many of whom have claims on the debts of said entities and institutions.

Everything being done at present is smoke & mirrors hocus pocus to prop up the banksters- whether the fixing of artificial interest rates, ZIRP/NIRP, QE/Twist, etc., etc.- no matter the cost to the real economy or the damage to nations and their citizens.

Thu, 08/30/2012 - 05:32 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

in my eyes this proove what i said in another article....

 

even when they get caught with the hand in the jar there is nothing you can do....

 

oh yes, you can bang your head on their woodstick or their shields til it crashes

Wed, 08/29/2012 - 20:54 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

History Rymes, this all happened back in 1923...here we go again!

Thu, 08/30/2012 - 05:34 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

in 1923 90%+ of the population was living on his own food production (at least where i live)

 

now it's far far worse, where i live less than 5% of the population live on his own food

Wed, 08/29/2012 - 20:35 | Link to Comment El Oregonian
El Oregonian's picture

Hey, toilet paper sold by the sheet!

Wed, 08/29/2012 - 21:22 | Link to Comment rustymason
rustymason's picture

... in a dollar story near you.

Wed, 08/29/2012 - 18:14 | Link to Comment The Shootist
The Shootist's picture

Wow, what an event. At least james g Richards thinks euros are better than FRN's. I prefer real money myself.

Wed, 08/29/2012 - 18:27 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Both parties are simply a national disgrace, full of mindless zombies, buffoons and idiots.

 

Wed, 08/29/2012 - 18:52 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The Daily Bail has been posting some good videos and articles lately. Bookmarked.

Wed, 08/29/2012 - 20:35 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

More RP news:

 

Ron, Carol, and one of their granddaughters left the GOP snake pit yesterday afternoon, but the State was not yet through with them. At the little airport in Clearwater, 8 TSA agents descended on them and ordered them not to board their private plane. First, the pilots, the airplane, and the passengers would have to be screened in great detail, because Romney might be nearby. After a long examination of the pilots and their credentials, the agents said they had to check the plane for explosives. One of the pilots noted that the plane, full of gas, was already a bomb. Then Carol Paul, who has a heart pacemaker, refused to be screened, and an aide started taking video of the whole rotten proceeding. At that point, the TSA backed down and let them through.

August 29, 2012

 

http://lewrockwell.com/rockwell/ron-paul-leaves-convention197.html

Wed, 08/29/2012 - 20:39 | Link to Comment fonzannoon
fonzannoon's picture

What happened to that dude Andrew Napolitano? They really screwed the lid down on him eh? He used to be out there screaming about this stuff.

Wed, 08/29/2012 - 21:44 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Once he started ranting loudly in Ron Paul-seque tone about how the executive and legislative branches of the U.S. Government were essentially gutting the most fundamental, core rights recognized (and NOT privileges granted) by both our Declaration of Independence & Constitution, he became persona non grata around the Republican Establishment (that is as beholden to the Financial/Bankster-Military-Globalist complex as the Democratic Party, with both R's and D's working for the same exact Masters, are).

Wed, 08/29/2012 - 21:56 | Link to Comment fonzannoon
fonzannoon's picture

I hear ya but what does a guy like that do? Buy a winnebago and drive around the country? After everything he preached and stood for he leaves with a message to his followers to not excercise their 2nd amendment right by complaining to Fox?

Thu, 08/30/2012 - 05:36 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

this is kinda normal....

 

they want to keep the privilege to be the ones that kills presidents ;)

Wed, 08/29/2012 - 20:09 | Link to Comment GOLDTEETHSILVER...
GOLDTEETHSILVERFILLINGS's picture

You left out the rest of the animals in the local Zoo.

Wed, 08/29/2012 - 20:26 | Link to Comment Freddie
Freddie's picture

Backed by citizen idiots who watch TV and Hollywoods crap thus enabling the overlords.  If you pay for cable or sat TV or watch it then you did it to yourself - serf.  Americans traded liberty for HD and a clicker.  Stupid fvkkks.

Wed, 08/29/2012 - 18:38 | Link to Comment lemonobrien
lemonobrien's picture

its all a con job; if ron paul was serious about saving america he would run as an independent. instead of him handing it off to his treasonous son; while they hoard they're gold in kentucky.

 

Wed, 08/29/2012 - 18:40 | Link to Comment LongSoupLine
LongSoupLine's picture

Maine rocks!!

Wed, 08/29/2012 - 18:40 | Link to Comment Bobbyrib
Bobbyrib's picture

Wow. I predict Romneybot rushes in to try to patch things up before the used cars salesman swoops in to try to steal the votes. They should start a Ron Paul write in campaign.

Wed, 08/29/2012 - 20:21 | Link to Comment rayduh4life
rayduh4life's picture

Bobbyrib, used car salesmen are infinitely more honest than these asshats.

Wed, 08/29/2012 - 19:11 | Link to Comment GeorgeHayduke
GeorgeHayduke's picture

How naive were these folks to think they could use the owner's system against the owners themselves? They don't get it, but then how could they? They are loyal, hierarchical, bought into the system republicans who thought they were part of the club and are now finding out their part of the club is in serving their masters.

Maybe, just maybe, the Tea Party folks and other disenfranchised Republicans will finally figure out that they will have to make a sacrifice or two to get the changes they want. That's why they could not understand the OWS movement. The TPers thought they could work the system to their advantage while not giving up anything. Now, maybe they'll get it. I won't hold my breath.

Next up, the Dems to show us how foolish they can be. They'll likely have little to no antics on the floor as their candidate already has it locked up and the sheep will bleat accordingly. However, the Dem convention may have more going on outside the building, which the mainstream media whores will ignore completely.

Then we get all the hoopla about the November Selection in which we get to choose, yet again, the lesser evil, as though there is a lesser evil this time. I'm going to vote for Rocky Anderson. At least he'll be on the ballot and he's not one of the two main losers.

Wed, 08/29/2012 - 19:21 | Link to Comment hannah
hannah's picture

"That's why they could not understand the OWS movement." thats funny because the OWS movement couldnt understand its own OWS movement...?! the biggest bunch of incoherant babel every time they interviewed an OWS person. i think i know what they stood for but jesus they need to take some PR lessons and maybe right down their agenda...?!?!?!?!

Wed, 08/29/2012 - 19:12 | Link to Comment Hype Alert
Hype Alert's picture

Forwarded.

Wed, 08/29/2012 - 19:55 | Link to Comment Totentänzerlied
Totentänzerlied's picture

A nauseating spectacle of slaves cheering for their masters.

Wed, 08/29/2012 - 20:18 | Link to Comment Freddie
Freddie's picture

Monti and Draghi aka Goldman stooges.  The Italians eventually woke up to Mussolini.  Italy has many lampposts and gas stations like that station in Milan.  Maybe they will wake up again.

Here are students in Milan rushing the Goldman Sachs (Roths**ild) orifice.

http://www.zerohedge.com/news/italian-students-storm-milan-goldman-sachs-office

Wed, 08/29/2012 - 18:05 | Link to Comment fonzannoon
fonzannoon's picture

There are 28.000 cash for gold places in my town. My wife used to think I was nuts talking about gold. I finally told her to keep an eye on how many cash for gold places spring up. Whenever we drive somewhere I hear her say "holy shit" under her breath. It's the only thing I have gotten credit for in 10 years.

Wed, 08/29/2012 - 18:12 | Link to Comment john39
john39's picture

makes you wonder how many timesover the years the same clans have pulled this scam...

Wed, 08/29/2012 - 18:40 | Link to Comment lemonobrien
lemonobrien's picture

in italy it definitely a family bidness. I know the rothchilds have been doing it since the late 1500s.

Wed, 08/29/2012 - 19:44 | Link to Comment Divine Wind
Divine Wind's picture

 

 

You gotta be a liberal.

Why would this be a scam?

Gold buyers have been around since they started using the shit.

It is called business.

The fact that this business prowess is passed from parent to child should be applauded.

What an idiot.

Wed, 08/29/2012 - 20:41 | Link to Comment john39
john39's picture

never heard of the central banking scam? by which a country's wealth and and resources are stripped bare every few generations?  you think the gold buyers are not part of this repeating scam?   preying on people who are essentially enslaved by international bankers?   liberal vs conservative?   you must be lost.

Wed, 08/29/2012 - 20:53 | Link to Comment Freddie
Freddie's picture

I am a conservative and I don't agree with his crap.  The public gets screwed every 40 years or so in the USA by the banksters (aka the Bank of England owns the Fed and who owns the bank of england?  Starts with an R).

The American public got screwed by FDR then Nixon and next by the Muslim with lesser screwings in 2000 and 2008.  We need another Andrew JAckson.

Wed, 08/29/2012 - 18:15 | Link to Comment Global Hunter
Global Hunter's picture

mine thought I was nuts too...then about 6 months ago she told me she'd like me to make more money so we could get silver and that she liked "the south african coins" which happened to be Krugerrands :)

She has an interest too now in preserving food, water and ammo. 

That's my girl!!!

Wed, 08/29/2012 - 18:26 | Link to Comment bigfire
bigfire's picture

Don't forget firearms and ammo.  Otherwise, they'll just take your stuff.

Wed, 08/29/2012 - 18:31 | Link to Comment Global Hunter
Global Hunter's picture

absolument!!!

She gets mad at me now for dragging my ass on this stuff

Thu, 08/30/2012 - 05:20 | Link to Comment Zwelgje
Zwelgje's picture

you're a lucky guy. cheers.

Wed, 08/29/2012 - 18:20 | Link to Comment yabyum
yabyum's picture

Fonzannoon, We have all sorts of people in costume waving the "we buy gold sign" Have the wife ID the species, fun for the kids. Let us know when they start to sell the stuff, it will be time to sell with both hands.

Wed, 08/29/2012 - 18:25 | Link to Comment fonzannoon
fonzannoon's picture

Funny thats what I tell her too. When those signs stop saying we buy gold it should be interesting. My only problem with it is I am too far gone to sell it back for dollars.

Wed, 08/29/2012 - 18:42 | Link to Comment LongSoupLine
LongSoupLine's picture

It's the only thing I have gotten credit for in 10 years.

 

You're one up on me...shit, and I've been married for 20.

Wed, 08/29/2012 - 20:48 | Link to Comment knukles
knukles's picture

I've had 20 years of wonderful marriage.  Half ain't too bad is it?

Thu, 08/30/2012 - 05:33 | Link to Comment _underscore
_underscore's picture

My wife & I had nearly 25 happy years, then we met.

 

Wed, 08/29/2012 - 19:03 | Link to Comment ForTheWorld
ForTheWorld's picture

It's the same in Australia. These Cash for Gold places are appearing as "pop-up" stands in free space in shopping centres, and there was a big advertising campaign a few months ago with lots of smiling, happy people walking away from the shop with a few hundred dollars after handing over all the gold they had. "You too can be fleeced by us! Bring all your gold in today!"

Wed, 08/29/2012 - 19:23 | Link to Comment hannah
hannah's picture

i thought all you aussies bought opals...! i thought you found them on the ground as big as a chickens egg down there....?

Wed, 08/29/2012 - 19:54 | Link to Comment Irwin Fletcher
Irwin Fletcher's picture

If you could just find them on the ground, then why would you want to buy them? By the way, all Australians know each other.

Wed, 08/29/2012 - 18:12 | Link to Comment q99x2
q99x2's picture

Now you got me hoppin mad just before I go to my speech class to learn how to speak like the Totus. Not good.

Wed, 08/29/2012 - 18:18 | Link to Comment Global Hunter
Global Hunter's picture

Do they coach you on mannerisms?  Just stick your nose up in the air like the audience you're speaking to smells like shit

Wed, 08/29/2012 - 19:02 | Link to Comment Miss Expectations
Miss Expectations's picture

1.  Tell them what you're going to tell them.

2.  Tell them.

3.  Tell them what you just told them.

 

Easy.

Wed, 08/29/2012 - 20:51 | Link to Comment knukles
knukles's picture

You buncha fucks.
You people are a buncha useless fucks.
Useless fucks, I say.
Useless fucks..

Wed, 08/29/2012 - 19:27 | Link to Comment vato poco
vato poco's picture

My new "Learn to speak good like Vice-President-just-a-heartbeat-away-from-the-Presidency Joe Biden!" DVD suggets this:

* When speaking to a largely black audience, adopt a Steppin Fetchitt voice

* For hispanics, you'll want to listen to some old 'Cheech and Chong' records so you can sound like Cheech

* For an asian audience, transpose your "r"s and "L"s a lot. They _love_ that!

Best of all, they'll still give you $$ and vote for you!

Wed, 08/29/2012 - 18:14 | Link to Comment THECOMINGDEPRESSION
THECOMINGDEPRESSION's picture

Best thing to do, bankrupt the people, make them sell everything to survive, then you can control them..lock stock and barrel

Wed, 08/29/2012 - 19:55 | Link to Comment lotsoffun
lotsoffun's picture

worked pretty good for adolphus.

Wed, 08/29/2012 - 19:58 | Link to Comment Irwin Fletcher
Irwin Fletcher's picture

Then, when that's over, start a war and repeat. Imperialism, bitchez!

Wed, 08/29/2012 - 18:16 | Link to Comment Freddie
Freddie's picture

They should have stuck with the Lira.

Wed, 08/29/2012 - 18:22 | Link to Comment yabyum
yabyum's picture

I loved the lira, only time in my life I was a millionaire. A "made man" sweet!

Wed, 08/29/2012 - 21:55 | Link to Comment eaglefalcon
eaglefalcon's picture

You'd love Zimbabwe dollar better because it'd make you a trillionaire

Thu, 08/30/2012 - 07:39 | Link to Comment AGAU
AGAU's picture

The Vietnamese Dong is a special one also, I had to take $900 out of an ATM, it worked out at about 25 million dong or about a kilo of dirty tattered crappy paper, Had to do a 'doctor evil' pinky finger gesture and hope I didn't get mugged.

Wed, 08/29/2012 - 18:19 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Been watching C-Span. My belief? Civil War coming. Nation will not tolerate more propaganda from MSM.

Wed, 08/29/2012 - 19:13 | Link to Comment CH1
CH1's picture

I hope not... violent conflict is THE GAME of the establishment.

To change things for real, people need to drop out of the system and let it starve.

Wed, 08/29/2012 - 19:44 | Link to Comment Henry Hub
Henry Hub's picture

***people need to drop out of the system and let it starve***

I don't think you understand how a totalitarian police state works. There is no dropping out. Ether you embrace the system wholeheartedly or you are an enemy of the state. Try to drop out, and you end up being re-educated at a FIMA camp or worse.

Wed, 08/29/2012 - 21:01 | Link to Comment CH1
CH1's picture

The state is NOT God.

No way out? Illegal immigrants live "outside" all the time - millions of them.

Stay obediently in line and you service evil. In the end, you end up claiming you were "only following orders."

Read Solzhenitsyn. 

Wed, 08/29/2012 - 21:14 | Link to Comment Henry Hub
Henry Hub's picture

Solzhenitsyn is a perfect example. He spent eleven years in prison camps (the Soviet gulag) . You can, with courage, fight the totalitarian system as he did but you will pay a heavy price. There's no easy out.

Wed, 08/29/2012 - 22:01 | Link to Comment CH1
CH1's picture

Who ever said it was easy?

And your answer is?

Wed, 08/29/2012 - 22:32 | Link to Comment Henry Hub
Henry Hub's picture

I never have answers , just questions.

Wed, 08/29/2012 - 23:08 | Link to Comment CH1
CH1's picture

Stasis.

Thu, 08/30/2012 - 00:11 | Link to Comment Freddie
Freddie's picture

WTF are you talking about?  C-Span?  That means you have cable or sat Tv and you pay each month to be a fvkkking slave.  Idiot.  Your monthly cable bill money gets divided up among Fox-AlWaleed, ABC/Disney/AlWaleed/Tel Aviv and the list goes on.   It does not matter if you never watch MSNBC - your money goes to support them.

Moron.  ALL TV and ALL of Hollywood is shit.   The idiots will and do tolerate endless lies from the MSM which ALL of TV and ALL of the media.  If you were a real man you would pull the plug, take the savings from the cable TV month TRIBUTE you pay to the elites and buy more ammo.  

Thanks to morons like you - The Matrix is still in control.  Americans and Europeans traded their freedom for a clicker and HD.  Stupid serfs!   Goes for Canada, OZ and NZ as well.   At least New Zealand is embarassed being Obam/Hollywood/Google's little bitch in their illegal raid of Kim.com.

Wed, 08/29/2012 - 18:21 | Link to Comment Miss Expectations
Miss Expectations's picture

I suspect that some of the most beautiful pieces old gold jewelry are being melted down by the cash for gold vultures.

This article convinces me that official government gold confiscation will not be necessary...it's happening unofficially via cash for gold.

 

Wed, 08/29/2012 - 18:20 | Link to Comment Brazillionaire
Brazillionaire's picture

Out of curiosity, I called a local cash-for-gold place in my small college town and asked what they would pay me for a one ounce .999 silver bullion coin. Sit down for this.... Five bucks.

I am now seriously considering raising some capital from some well-heeled friends to open up a competing store that would offer at least double that amount and STILL MAKE A FORTUNE. It would be worth it just to put that vulture out of business.

Wed, 08/29/2012 - 18:34 | Link to Comment fonzannoon
fonzannoon's picture

Brazillionaire my best friend has been trying to convince me for a year to do the same thing.

Wed, 08/29/2012 - 18:38 | Link to Comment Dr. No
Dr. No's picture

If you are in america, sell it on ebay. Cost 9% commission, but better than that haircut.

Wed, 08/29/2012 - 19:10 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Why the hell would any sane person let eBay skin them for 9% off the top when you have alternative methods to sell that take no such asinine levels of the fruit of your bounty?

Wed, 08/29/2012 - 20:07 | Link to Comment Irwin Fletcher
Irwin Fletcher's picture

What alternatives are so much better? Ebay auctions used to get a pretty good premium to spot price (though I haven't paid attention for a while), which, even with commision, was at least as good as you'd get from a coin shop or show. And Craigslist is full of scammers. Now I'm wondering where my sanity went, or if it was ever there in the first place...

Wed, 08/29/2012 - 19:15 | Link to Comment GrinandBearit
GrinandBearit's picture

I have a silimar story but with gold.

When gold was near $1900 just for fun I stopped by one of those cash for gold kiosks at the mall.  I showed the lady a 1oz gold Canadian maple leaf and asked how much they would give me for it.  She looked excited and seem to make a big deal out of it.  She made a quick phone call, hung up the phone and said she'd give me $1500 for it... 79% of spot price.  Not good, but much better than I intially thought.

Wed, 08/29/2012 - 19:27 | Link to Comment hannah
hannah's picture

when the world ends...do you think you will get any better offers for your gold! buy ammo and food and medicine...gold will be a waste unless you need to convert $10mil to gold. regular people will be ripped off.....see how many neg hits this get s now.

Wed, 08/29/2012 - 20:00 | Link to Comment GrinandBearit
GrinandBearit's picture

I already have the water, food and supplies.  First you stock essentials... then you get the gold and silver.

Wed, 08/29/2012 - 19:19 | Link to Comment CH1
CH1's picture

asked what they would pay me for a one ounce .999 silver bullion coin. Sit down for this.... Five bucks.

Wow, I wouldn't have guessed they were THAT bad.

Wed, 08/29/2012 - 19:28 | Link to Comment Miss Expectations
Miss Expectations's picture

Here's what a friend of mine did.  She had a gold necklace.  She knew the weight and the spot price of gold.  She calculated that it was worth about $1,100. (Evidentally, there's an app for this.)  She took it to EVERY cash for gold place in town.  Prices varied by as much 100%

Wed, 08/29/2012 - 19:52 | Link to Comment lotsoffun
lotsoffun's picture

welcome to the world of desperation.  there are a lot of factors - including the dealers greed an reputation.  but - you forget how well informed you are.  if i ask the majority of my fellow new yorkers what spot is for gold - they have no idea.  or what level the dow is - or what the federal reserve is.

so - 'we buy gold' (for cash.  nice) - what do they hope to deal with?  junkies, thieves, crazys, uninformed.  that's the business model.  and - there was a time i was uninformed and i would see a trinket and somebody would say - that's worth xxx wow!  and the dealers told me - worth yy for meltdown - just keep it.

the concept of diogenes isn't lost today.

 

Wed, 08/29/2012 - 20:56 | Link to Comment knukles
knukles's picture

"Evidently there's an app for this"

Weight x %purity x spot price per weight unit = melt value

Probably apps for density, too

Thu, 08/30/2012 - 00:27 | Link to Comment AmericanFUPAcabra
AmericanFUPAcabra's picture

I could write a column a week on this site telling about all the horrible shit i see go down in the pawn shop i work in. People on this site talk about "pain" but thats all day trading, playing at stocks, a fucking far cry from the actual "pain" the poor and lower class actually go thru to make ends meet on a monthly basis.

That shop you spoke of is garbage. For anyone who wants a quick conversion on their gold heres an ez to remember formula. Dont let yourself get ripped off.

Daily price of gold /20 (dimeweights per oz) X purity X total dwts = scrap value

Purity

.410 10k

.585 14k

.750 18k

.999 24k

edit: forgot that daily gold price is manipulated as fuck so, that changes things, but the rest of the formula is good!

Wed, 08/29/2012 - 18:23 | Link to Comment Renewable Life
Renewable Life's picture

Once again, at least the banksters got bailed out at 100 cents on the dollar.  No wonder the elites laugh at the sheeple.

sing with me..........You put your gold in, you take your fiat dollars out, you put your labor in, you take your fiat mortage out, you put your fiat dollars in, you get nothing out

and that's what its all about!

But hey, rejoice Americans, the Republicans and Mittens showed what real democracy was, when they did their "roll call" to nominate Mitty, they showed they would be inclusive and open to new ideas, like those of Ron Paul supporters, etc............ohhhh wait, that didn't happen??????? 

Exactly!

Wed, 08/29/2012 - 18:26 | Link to Comment Global Hunter
Global Hunter's picture

catchy tune, I'm humming away.

Wed, 08/29/2012 - 18:23 | Link to Comment yabyum
yabyum's picture

Paging Al Swearnagen: Cocksuckers!!

Wed, 08/29/2012 - 19:49 | Link to Comment Oldballplayer
Oldballplayer's picture

And shitheel operators.

Wed, 08/29/2012 - 18:26 | Link to Comment LongSoupLine
LongSoupLine's picture

Works great...until it doesn't.

Wed, 08/29/2012 - 18:32 | Link to Comment Blue Dog
Blue Dog's picture

If the banks go under they take everyone's money with them. 

Wed, 08/29/2012 - 18:36 | Link to Comment lasvegaspersona
lasvegaspersona's picture

You mean they crash everyones medium of exchange. My store of value won't change unless they figure out where it is. Even if it all goes to hell we will at least have the dollar as our unit of account. 

Wed, 08/29/2012 - 19:33 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Yes, if the banks that are insolvent are allowed to fail, people will be forced to adjust their levels of assumed risk, and they'll become aware of the hazards of depositing their money with insolvent institutions, and they may even decide to invest, save or otherwise utilize those monies in far more productive and less risky ways.

 

Oh, the horror!

Wed, 08/29/2012 - 18:33 | Link to Comment lasvegaspersona
lasvegaspersona's picture

Sad that folks are selling before the reset. For gold to function it must be at a MUCH higher value. there are many ways to figure that value but none of them come  up with a number near $1669/oz. Think 30x....for starters.... 10 to the 30 if hyperinflation hits.

Wed, 08/29/2012 - 18:33 | Link to Comment ebworthen
ebworthen's picture

And in the U.S.A. it is citizens cashing out those illustrious I.R.A.'s and 401K's that were held captive by the Wall Street Gang to enrich fund managers and the banks.  Now being cashed out to make the mortgage, healthcare, food. 

The Kleptoligarchy wins coming and going; asset value bled with management fees, crashing the markets, then taxing the shit out of the money and bleeding people precisely when they need it because the market was crashed.

Wed, 08/29/2012 - 18:59 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I vividly remember those days when the TARP extortion package failed to pass and JPM, Goldman & their racketeering brethren put the smackdown on equities. 150 points off the Nasdaq, 100 points off the S&P and 400 to 600 points off the Dow in single sessions was quite a common occurrence.

It all culminated with Hank "Tanks In The Streets & Martial Law By Sunrise, Bitchez" Paulson giving his scary speeches to an Academy Award winning "scared" Congress (witrh the exception of a few, such as Jim Bunning, who rolled his eyes at the obvious ploy, and then retired, saying "screw this shit, bitchez").

Wed, 08/29/2012 - 19:11 | Link to Comment Rainman
Rainman's picture

ah yes, memory lane..." give us all the money now or we blow up the public pension funds ".... 

Wed, 08/29/2012 - 19:46 | Link to Comment lotsoffun
lotsoffun's picture

redux - soon to be in MSM again soon.  they're just sorting out whether they want to do it pre/post whomever they decide to get elected. 

coming soon to a exchange near you.  hold onto you seats - it's gonna be a thriller.

and sorry - it's going to be such a thriller - they've even it rigged it so shorts and vix and such remain out of the money.  the money will be theirs.  all of it.

 

Wed, 08/29/2012 - 18:40 | Link to Comment lasvegaspersona
lasvegaspersona's picture

These are times when most will be hurt badly. Do not be one of them. If you are rich Dan Amerman has strategies that work well. Fofoa has one for everyman. Learn what you can. When the meteor hits do not be standing under it. ZH is only one stream of info and it has its bias. Best look in several places and pay attention to critical timing events. Learn to do enough accounting so you don't wind up with nothing but gold and no fiat when fiat is needed. This isn't a test and real events are coming soon that will determine how you live the rest of your life. 

Wed, 08/29/2012 - 18:43 | Link to Comment youngman
youngman's picture

I have heard that many of these shops are fronts for the mafia...but they will pay very little for the gold...dupe the dumb sellers...

Wed, 08/29/2012 - 18:51 | Link to Comment alfred b.
alfred b.'s picture

 

     ,,,,that mafia you have in mind is probably the bigger banks and their cartel.

     Buy physical gold and silver...while still available.

 

 

Wed, 08/29/2012 - 19:01 | Link to Comment BobRocket
BobRocket's picture

Not all of these shops are buying gold, some of them are just fronts for laundering drug money

Wed, 08/29/2012 - 18:45 | Link to Comment dagnytaggert
dagnytaggert's picture

"We Buy Gold" places are cropping up in upscale Manhattan neighborhoods. An old, elegant insurance building on Park Avenue has big ads in the windows: "Sell Your Gold Here: Better Than a Pawnshop."

Thu, 08/30/2012 - 06:30 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Provident Loan Society ... a high-bred pawn broker with roots to none other than JP himself.

Wed, 08/29/2012 - 18:50 | Link to Comment KickIce
KickIce's picture

Confiscation without writing a law or firing a shot, all done via debt.

What a life to be able to create wealth out of thin air and trade it for real assets.

Just take a look at the number of mortgages on the books of the CBs and Federal reserve.  If you think controlling gold is bad just wait until they control the farm land.  If they can't take your property then they'll take it from your children.

Wed, 08/29/2012 - 18:52 | Link to Comment marco1324
marco1324's picture

You had this in the UK years back, lots of adverts on TV every five minutes. No matter where you turned there was a pikey wanting your old gold. All stopped now strangely.

You know when they (UK US et al) sold lots of gold off cheap a few years back... Was it a scam and did they just get their pals to buy it all at that price only to cash in at a later date? Or was it to help as I have heard certain banks and investment groups?

Wed, 08/29/2012 - 18:54 | Link to Comment edifice
edifice's picture

I think these "cash for gold" scams are prevalent all over the WORLD... I drive past at least 3 of them, on my way to work, here in the U.S. They're just milking everything from the little guy. After the teat is dry, they'll grind up the little guy for hamburger.

Soylent Green is made from peeeeeople!!

Wed, 08/29/2012 - 18:59 | Link to Comment Stud Duck
Stud Duck's picture

I have 64 gold teeth I pickup up in Viet nam, got the bag out last week, show it to my grandson, w/o the story of how I got them.

It was $32 then, forgot about it for 2-3 decades while in a pot and beer stupor, found my old foot locker with all my locked down stuff while moving my parents off the farm.  Going thru that stuff caused a few bad dreams, but took the teeth into a local gold for cash shop, flopped it out, freaked the gal behind the counter out, got a offer from the manager for $4K.  I thought,  that is twice as much as I got paid for 13 months in a muddy insane assylum! The guys that were using them were not going to need them anymore!

Still got them, but will melt them down, give them to the grandsons, have the son let them know where they came from when they are old enough!

Who needs a junk AK when you can aquire gold for war tropies! Other guys just cut off fingers and stuff, I dug for the gold!

 

Wed, 08/29/2012 - 19:05 | Link to Comment edifice
edifice's picture

Jesus, that's hardcore, man. Thank you for your service.

Wed, 08/29/2012 - 23:16 | Link to Comment BKbroiler
BKbroiler's picture

perfect.

Wed, 08/29/2012 - 19:05 | Link to Comment marco1324
marco1324's picture

You could melt them down and have just one big tooth, like a billy goats. No need for floss, see we're saving money already.

Wed, 08/29/2012 - 21:07 | Link to Comment knukles
knukles's picture

Dude, that's brilliant....

Wed, 08/29/2012 - 19:23 | Link to Comment Moe Howard
Moe Howard's picture

Fleabay them brother they pay over spot for war trophy teeth. Put your story in the listing and they will pay double.

Wed, 08/29/2012 - 20:01 | Link to Comment Henry Hub
Henry Hub's picture

"...I dug for the gold!"

Was this before or after they were dead? Just asking.

Wed, 08/29/2012 - 21:10 | Link to Comment knukles
knukles's picture

I'd a told the little shit that this is what happens to kids who don't listen to their Granddad.
Here, now let's drink this bottle of JW Dant sour-mash, little'un...

Sat, 09/08/2012 - 13:30 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

For all the trouble you went to & chances of getting killed I'm glad you came away with the only war trophy worth remembering. The rest ... well you have your demons & saw others. Best of luck to you & your children & grand-children.

Wed, 08/29/2012 - 19:03 | Link to Comment bnbdnb
bnbdnb's picture

Cramer just recommended buy GLD

Wed, 08/29/2012 - 19:11 | Link to Comment fonzannoon
fonzannoon's picture

These cash for gold places....a lot of them have to be owned by a bigger entity than some shmuck just trying to rip people off right?

Wed, 08/29/2012 - 19:24 | Link to Comment Moe Howard
Moe Howard's picture

Anybody seen those snatch for gold places in chicago?

Wed, 08/29/2012 - 19:58 | Link to Comment ShrNfr
ShrNfr's picture

NO, but I do own some nice "Whorehouse" tokens made out of a flying eagle cent and another out of a large cent that are good for "1 cunt". e.g. http://www.regencystamps.com/LotDetail.aspx?lotid=280560

The Flying Eagle one is interesting since they took the Flying Eagle and turned it into a Flying Penis.

Wed, 08/29/2012 - 20:25 | Link to Comment Pejorative Requiem
Pejorative Requiem's picture

It would have to be either some really fine snatch, or a really small piece of gold.

Wed, 08/29/2012 - 19:55 | Link to Comment ShrNfr
ShrNfr's picture

While I visted an old friend who ran a coin store a couple/several weeks ago, most of the traffic was not to buy his coins, but to sell him their gold and silver. Personally, I run in the other direction. The toilet paper is cheaper at stop & shop.

Wed, 08/29/2012 - 21:00 | Link to Comment Freddie
Freddie's picture

You joke but even the price of toilet paper is rising a lot.  The old rolls are about 8 inches wide.  The cheap stuff is now about 5.5" wide.   Old people, seniors and baby boomers are getting destroyed by Hope & Change from the muslim.

Wed, 08/29/2012 - 20:12 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

To see whats happening to Italy ... look no further then their Diesel consumption  - energy is defined as the ability to do work - As Diesel will do most of the work withen the oil complex............

omrpublic.iea.org/demand/it_dl_ov.pdf     Its been in a terminal dive since the start of the year.   Marios function is to transfer what little remains of the Euro oil ration to France and Germany .... he has served his purpose so far at least.  
omrpublic.iea.org/demand/ge_dl_ov.pdf    
omrpublic.iea.org/demand/fr_dl_ov.pdf   

    www.youtube.com/watch?v=5WBDSNkSgLw  

Wed, 08/29/2012 - 20:20 | Link to Comment Robert Paulson
Robert Paulson's picture

"That’s not just gold being exported, that is wealth being exported.  China says thanks.  At least you protected your bankster class from taking a hit on their bond portfolios."

Wait, the apex of their value system (competition), turned inward against them? 

...

Ahhhh, shit.  Apex of cooperation is the only logical antithetical response.

Is yin-yang an inevitable consideration of paradigmatic contrast?  I'd venture to the same degree.

Wed, 08/29/2012 - 20:37 | Link to Comment Pejorative Requiem
Pejorative Requiem's picture

28,000 cash for gold places? Is he talking about Rhode Island? Maybe Times Square? But ok....... another example of what a failed nanny state looks like.

Wed, 08/29/2012 - 21:06 | Link to Comment knukles
knukles's picture

The pier at Southend-on-Sea.

Wed, 08/29/2012 - 21:21 | Link to Comment XtraBullish
XtraBullish's picture

Silver trades $29 before $33; Gold $1,600 before $1,700 because the internet "gold noise" is now loud again versus totally silent a month ago at $1,575. Gonna get ugly out their very soon....but you wanna buy the puke-ups.

Wed, 08/29/2012 - 21:24 | Link to Comment geewhiz190
geewhiz190's picture

people in the trade tell me the chinese are sellers and  Indian buying has pretty much stopped.

Wed, 08/29/2012 - 22:05 | Link to Comment americanspirit
americanspirit's picture

If you have gold or silver be patient. Just tell them you can't pay your bills this month or probably next month either. Don't sell your PM to pay your bills. Those who are trying to collect KNOW that only a small % of people can pay. If you pay just a % they will leave you alone - at least for a while. In the meantime hold onto your PM stash. If you can outwait them you will win. If you sacrifice your stash to pay your hills in full you will lose.

I am paying my bills at 10% of what I owe, and have negotiated zero % on the unpaid amount. I just tell them I am trying to find a job. And I don't have to sell my stash to pay their damned bill. They have no idea that I have what it takes - I just play dumb and tell them that I am trying. Placed in context of all they have to deal with they are happy. At least they are getting something. This removes me from their 'cutoff" list and they just move on to the suckers they can really squeeze. It's human nature - make it work to your advantage.

Wed, 08/29/2012 - 22:58 | Link to Comment wstrub
wstrub's picture

I have a friend that has a cash for gold company.  He says people come in with a thousand dollars and I give them 500 and they are happy.  He then sells the gold (and silver) to the central banks. 

Wed, 08/29/2012 - 23:34 | Link to Comment gnomon
gnomon's picture

Easy come, easy go.  Stupid is as stupid does.  It ain't just the shysters.  You need a fool as well.  

My anger vacillates between the banksters/pols and the enfeebled, pleasure-seeking drones masquerading as citizens.

This is how civilizations end.

Wed, 08/29/2012 - 23:25 | Link to Comment Stud Duck
Stud Duck's picture

I had so many comments on my comments, Wow, did not think anyone would read it!

Ediface, I had the Hmong do it for me in Loas, that was the little secret war, financed by Opium (CIA special plan) and did not have any of those stupid rules like South Nam.

Was quite the experience but kept most all info from wife and kids, made sure the son never had any military asparations. Saw first hand the lies of the Nixon adminstration when I got back, actually lept that life history to myself and super close friends with the same past.

Henry Hub, some of them were not quite dead, but we were in a hurry and usually took the little packets of processed opium they stash under their uniform collars  they used for pain, a knife in the throat was used to keep them quite.

Just another year in my youth, just another year in the late sixties. Came home, old man was a WW2 and Korean grunt, all he said was put it behind you, never talk about it and get on with life! Took his advise.

Wed, 08/29/2012 - 23:29 | Link to Comment msjimmied
msjimmied's picture

Sell it to an Indian or Chinese jeweler. If you know how much it weighs and the karat rating, you'll get the best price there. They are not really interested in 14k. They might bite at 18k, but generally they will snap it up at 22k to 24k. They are pretty much all lined up in a row, so it's easy to shop around. 

I go every 4-5 years to get my watch battery replaced at the local jeweler. I was amazed the last time I went. They went from a very modest affair to an emporium with rows upon rows of stuff. Most of the people were lined up to sell. Why are we talking disdainfully about the Greeks and the Italians? It's happening right here in the US. During the last Great Depression, people could not communicate as freely as we can now. We get almost a blow by blow account of what's happening in real time, we can voice our opinions, we can confer and reach consensus as to what's wrong. we can form communities of people with the same concerns. The overriding concern should be to eliminate the corruption that drains people of their dreams like clockwork every 50 years or so, with smaller catastrophes every decade. Get back the rule of law and a sound framework to go forward, or else this misery will last longer than the gold in people's hands, yes, even yours... So when do we act? Before people turn into feral animals would be good. It's time to put aside childish things like cheering for your team, they sure as hell ain't rooting for you. 

Thu, 08/30/2012 - 03:18 | Link to Comment Hobbleknee
Hobbleknee's picture

I thought you couldn't eat gold.  I'm so confused.

Thu, 08/30/2012 - 07:59 | Link to Comment Widowmaker
Widowmaker's picture

Listen to all the lipshit pussy dragging comments.

Using fraud to turn the world's "wealth" inside out is completely, exactly, de facto, 100% orchestrated.  As long is it is slow people are fucking idiots and no one can see money incorporated hard at work.  Oh look, another war.

No banker has ever said thanks.  They said "Mitt Romney."

Fuck off Mitt (Mr. religion incorporated with a privilege), and every poor hapless sole that votes for more fraud and government security fuckups.  The Republicans are pure vomit.  The sickest of the sick party system of monetary entitlement. 

But, at least with ANYONE else comes a new attorney jeneral if that fucking matters anymore.

Thu, 08/30/2012 - 10:33 | Link to Comment buffettwanab
buffettwanab's picture

Above ground mining at its finest,quick clean PONZI FOR GOLD.

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