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Originally posted by Rockpuck
If you want to end up homeless on the street with you 9mm and a backpack full of ammo, be my guest.
Originally posted by MikeboydUS
One word of advice, the first $10,000 should be silver. Once accumulated then move on to gold.
[edit on 30/1/09 by MikeboydUS]
Originally posted by believer81
Originally posted by MikeboydUS
One word of advice, the first $10,000 should be silver. Once accumulated then move on to gold.
[edit on 30/1/09 by MikeboydUS]
Can you provide justification for this advice with references?
[edit on 31-1-2009 by believer81]
Since these lows Gold has outperformed Silver and the ratio of the price of Gold to Silver has historically always tended to revert back to an average of around 16:1. Sure there have been historical extremes with the ratio being as low as 6:1 back in 1551 and as high as 100:1 in the 1940's and in 1991. Historically though it has hovered for a lot of the time between 14 and 16:1. Currently the ratio is around 50:1 which is still at the high end and would indicate that Silver is undervalued in comparison to Gold. At the current price of approx. $1000 per ounce for Gold at a 16:1 ratio silver would be priced at $62.5 per ounce over 300% higher than its current price of $20.
My own personal perspective is that Silver is likely to catch up Gold, maybe not to the 16:1 ration but I think it may have further to run than gold will in the short term. MY favourite way to invest in Silver is the Silver ETF (SLV). In the short term I think we could see resistance at the $25-$26 mark but if we break through that level we may see it taking off.
The world has known silver to be more plentiful than gold for 5000 years, and has valued both materials accordingly. But the world has not yet adjusted to the new reality that, after 60 years of using more silver than is produced, gold is now more plentiful than silver. Because 60 years is a flash compared to the accumulated experience and wisdom of 5000 years, the six billion souls that inhabit our world haven’t caught on to the new reality that silver is rarer than gold. They will. The only question is when.
Originally posted by drphilxr
reply to post by Reaper106
this is hearsay - directly from the mouth of my wife's uncle who buys and sells gold for a living in Reno NV- that some in the business speculate gold at the worst possible scenario would trade at.....
$30,000/ounce.
We'll never get there cause it wil be MAd Maxville before that. $3,000/oz is more practical.
peace
Originally posted by Trayen11
Say all the doom and gloom around these parts actually come about over the next two months. let me ask a simple question to everyone buying up gold to supplement thier money. If things come crashing down as you guys are suggesting what exactly are you going to do with all this precious gold you have sitting in your basements?
Because you sure as hell can't eat it. Smartest thing to be doing with your extra monet right now if your buying into this whole "the world is crashing" idea.....But extra food. Non perishable food that can last a long time. Canned food, jerkey, seeds for growing (if your able) and perhaps some form of defencive weapons to hold of the hoard of people looking to trade thier awsome gold for your food.
If SHTF i'd rather have food to last for a year then a bunch of pointless yellow metal.
Edit for spelling
[edit on 1/30/0909 by Trayen11]
Originally posted by warrenb
The Art of War
You do not need to throw one soldier or bomb to destroy, devastate or otherwise cripple your enemies nation. Simply make it rely on you for its economic strength, then once you have enough capital power, remove it in one fell swoop; destroying your enemies economy and throwing the nation into turmoil.
Brilliant.