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I do not understand the gold concept

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posted on Feb, 7 2009 @ 11:53 PM
Peter Shiff and Celente and others are saying the dollar is going to be worth nothing soon. I have searched ATS and do not see any information on what everyone is doing with any savings they may have left.
If the economy collapses who will by my gold? I am not sure I would want to take the chance of being robbed or having to shoot someone to protect it. What bury it in my yard? Just use it to barter? Buy Yen?
Buy land fast? What to do. I need help.
What are you all doing?

Thank you in advance

posted on Feb, 8 2009 @ 12:45 AM
What everyone needs have is food, first aid stuff, vitamins, good gardening equipment, water filters, etc, maybe even a solar power terminal for a survival-situation- self sustainability over a reasonable period of time.

What if one day the dollar collapsed and the food trucks stop coming?

Gold would be pointless then, Gold is something that you can't survive on, who would want gold if they can't even survive the following winter.

Gold is forever but one's life is not.

So... maybe stock up on things that you would need to live on and protect it, just regard Gold as having an artificial value that is only important to people who value it.

posted on Feb, 8 2009 @ 12:56 AM
If you're in a position to buy some good serviceable land where you can grow food and animals - with some fresh water on it - I’d buy it up if I were you.
Along with the things Star-in-a-Jar was pointing out - the things you'll need to live by.

Besides that - silver is good.
Smaller denomination factors to deal with than gold, still very serviceable (if not more than gold) and you can buy it in coin.

As for the shooting someone to protect your gold - you'd better start thinking along the vein of shooting someone to protect your next meal.
If you don't have a handgun, a shotgun and a rifle pick one of each up too. I have my preferences but that’s for another thread.
Hopefully you wont need them, but, believe me, the *insurance* you'll have with the right far arm far outweighs the security gold would give you.


posted on Feb, 8 2009 @ 02:10 AM
Gold and Silver will always be commodities that you can trade for other goods or exchange for other currencies that have not yet collapsed when the times get tough. A company like Peter Schiffs for example could buy your Gold back and give you its worth back in some kind of capital like Swiss francs or Yen etc... or any other currency that still has worth. Also you could just use the gold or silver to barter for things locally if you had to. But I agree non-perishable Food , Water (and water filtration system) and some kind of protection (just in case the wolves come knocking at the door) should be a high priority. If you do choose to purchase a firearm make sure you take the time to learn how to use it properly and responsibly this will help you eliminate any fear of using it.

posted on Feb, 8 2009 @ 02:50 AM
reply to post by saralee

You cannot eat shiny metals and sparkly gems.

If the food trucks stop running like one other poster said it is over
in the big cities.

Go on youtube and look at some of the video of past riots.

Now think that is going to be going on in most big cities once the
food stops coming and ppl resort to looting.

I feel sorry for the few nice ppl that do live in the rich neighborhoods,
they won't stand a chance.

If food shipments stop ppl will not sell what little food they have left.

Only if you can stockpile good amounts of food and other
essentials should you even think about mankinds shallow
fascination with shiny rocks.

Have seeds, water purification methods, self defense, first aid for
a long period of time, a bug out bag, and all the things that belong
in it. Have hard copies of at least one good survival book like
the SAS handbook. If you want my list u2u me.

If you do have boat loads of excess cash then you might get into some
kind of stable form, and I would not put all my eggs in one basket.

Buy a few different things in case one does mysteriously go down
in value do to further market manipulations that make no sense.

Good Luck to you all !

posted on Feb, 8 2009 @ 02:52 AM
the only reason you'd i'd advise that you invest in gold is to preserve your wealth... long term.
not using" it during tough times for barter.
prepare to barter goods and services.
eventually after any type of situation.. there will be order again.. no matter how long it takes.

at that point when there is security and a relative feeling of "civility" and communications networks "heal" back to a normal state.. then whip out your gold and buy into whatever currency is being used at that point.

i can't tell you how long the "order" would take to fully implement its self...

could be years.. could be decades..

but at least when it's "safe"// at that point.. you can finally "pick up where you left off"... either that.. or your children or friends or trusted loved ones can if you're not around.


posted on Feb, 8 2009 @ 04:51 AM
The idea is to sell it to people in your country who still have money or in the unlikely senario absolutely no one in the US has enough cash over seas buyers. If the US dollar collapsed and our dollar was still of some value or I still had assets of value other then dollars I would still be looking to buy your gold and so would many others. People with diversified assets won't be crushed by a USD collapse.

[edit on 8-2-2009 by Jacob08]

posted on Feb, 8 2009 @ 11:59 PM

Originally posted by saralee
Peter Shiff and Celente and others are saying the dollar is going to be worth nothing soon. I have searched ATS and do not see any information on what everyone is doing with any savings they may have left.
If the economy collapses who will by my gold?

Thank you in advance

If the $ goes to zero, your gold will probably do you little good at that time. But eventually the crisis will end and a new currency will be established and then you can sell your gold for the new currency and buy things. At that point, an ounce of gold (now worth $900) will probably buy a brand new car.

Buy gold now and also buy food staples (rice flour sugar and rolled oats) to get you thru the crisis.

posted on Feb, 9 2009 @ 12:42 AM
I have possibly a year supply of food for a family of three saved up in buckets. I also made sure I am heavily armed with 3 assault rifles so I won't be easy pickings for the thugs plus I will be able to hunt ... I would recommend getting Your food and making sure that You atleast have one gun.. I am not a fan of the gold thing because the government will end up confiscating it or You won't be able to trade it. Now one thing most people don't look into is bullets... Make sure you buy enough boxes of 9mm or .45 bullets because in a pinch those can be used to trade and each box will just go up in price. I watched ammo prices last year for .223 and it was about 25 cents a round then went up to around 50 cents .... So do You get my drift ..... Bullets are as good as gold and You will be able to trade them on a black market later because they will only go up in value.

posted on Feb, 9 2009 @ 01:08 AM
The concept of gold is not that complicated.

In 1935 a one ounce gold coin would buy you a suit in a big city from one of the finest designers. In 2009 a one ounce gold coin will buy you a suit in a big city from one of the finest designers. (this is straight from Peter Schiff)

It keeps value because it is AN ACTUAL COMMODITY.

Dollars,yen,euros,dirams,drachma,marks.......all paper. Worthless if they go to a new currency or hyperinflation hits.

If you have big money that you want to keep at a real value, buy gold at a mint that holds it OUTSIDE of the USA. There are a few.

If you are of moderate means then purchase useful goods and keep a small amount of money in gold and silver at varied denominations for times when barter won't cut it.

If you are living hand to mouth then buy basic necessities and put them away for a rainy day.
A small bag of junk silver might be a good idea to have as it it still 90% silver and can be used for bartering even if the dollar tanks.

It is not a cure all or a silver bullet. It is just a good way to NOT keep your eggs in one basket.

for those of you who do stocks.
Gold companies when well picked will give a better yield than the actual commodity.

I got into orezone a few months back with 800 dollars. It is worth nearly 4000 right now. (I wouldn't jump on it now as the big jump has gone but IAG bougt out a big orezone mine last month and has gone up 50% projected to do better)

As currency drops, demand for hard coin will drive values on gold and silver higher.

The key here is that gold and silver are tangible assets that can help you to retain wealth if used properly. It's not voodoo or a waste of time and money. It just takes common sense and planning.

posted on Feb, 9 2009 @ 03:28 AM
Now is the last time I would buy Gold. It will peak soon and anybody buying it will get scorched when the world starts to offload gold.

If i were in Obama's shoes I would start selling off US Treasury reserves to deflate the price of Gold and stop people hoarding wealth.

Money and gold only enriches a society when it is in circulation and available for investment in wealth creation.

posted on Feb, 16 2009 @ 11:33 AM

Originally posted by badgerprints

Gold companies when well picked will give a better yield than the actual commodity.

" When well picked" is the problem. That's why i recommend GDX the etf for gold and silver miners. It's a basket of mining companies.

posted on Feb, 16 2009 @ 12:30 PM
reply to post by saralee

If you already have gold stocks or coins ...keep them

but don't try to go out and buy now to make up for the past increases
in its value..... or for the outrageous predictions of a fabulous upper valuation (such as gold @ $5000 oz.)

as i see it, the next 3+ years, the price of gold will not go-up so much as
wages, jobs and everything else will dwindle... resulting in the relative value of gold rising in relation to one's 'prevailing wage'

today one ounce of gold translates to 94 hours labor @ $10.
tomorrow or next Quarter gold may translate to 200 hours labor @ $5.
which might well be considered a good Prevailing wage in the normal labor pools

so, unless you are an industrialist or fruit grove owner needing pickers
real cheap, the gold will be of increased value because it will buy more
man-hours of labor, but that same ounce of gold would have only increased in dollars by only $60 since deflated dollars. [an actual Loss in value]

posted on Feb, 17 2009 @ 01:44 PM
If we needed further proof that the Geithner Treasury is ill-prepared for the deep-end, Hank & cronies would have managed the dollar, Gold..and..equities...all before breakfast.

Obama's newbies, tsk tsk.


posted on Feb, 17 2009 @ 02:09 PM

Originally posted by sy.gunson
Now is the last time I would buy Gold. It will peak soon and anybody buying it will get scorched when the world starts to offload gold.

Maybe - but if all fiat currencies collapse, then gold will be the only money left. I'm counting on the gold rally to continue for years.

posted on Feb, 20 2009 @ 09:40 PM
Bloomberg Radio hosted an interview with Mr. Gold today (17min). In my opinion, Sinclair' macro is top drawer, but his characteristic style might seem a bit abstract to those that aren't in-sinc with his daily commentary.


posted on Mar, 3 2009 @ 12:58 AM
Trouble Understanding the Gold Concept?

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Gold Discussion Hub

Silver Discussion Hub

Agoracom is home to a courteous, closely monitored, well informed community. Zero tolerance - pumping - bashing - flaming - profanity. Once established, these new forums should provide an excellent resource for newbies & grizzled Gold-bugs alike.


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