Why Gold and Silver are dropping ...

Gold and silver are worth something as long as there is demand from people who want to buy it.

Depending on your TSHTF scenario, who is going to be around to buy it? If you need to barter with gold or silver, it will only be worth something to the people you barter with if THEY can sell it to someone else for something of worth. If the whole economy crashes, gold and silver will be worth nothing... but that depends on TSHTF scenario.

If the US crashes, having precious metals to convert to another currency will likely save you a lot of headache.

If an asteroid is coming, gold and silver will mean nothing for you... food, water, ammo and medicine will.

Choose wisely, because I can EARN more currency, no matter if it's gold, silver, paper etc... but if nobody needs or wants those things, you can't EARN food, water, shelter, etc. under certain circumstances.

I would say the safest bet is to have your SAVINGS in a portable currency such as gold or silver, that can be converted in just about any country in the world as long as there is a demand in place, AND to have a stock of food, water, medicine and anything else you might need. Ciggs and vitamins will be considered like gold for lots of people, MOST will not care about the currency and will just go with the flow.

Just my 2 cents worth of gold....

~Namaste

Here's a thought. I was thinking about all these cash for gold scams. You send your gold/silver to them, they of course give you an amount which is pennies on the dollar what it's worth, now you take that money and save it up and pay way more that it's worth. O.K. now that all of our jewellery is gone and we've turned it into "real" gold, then they drop the value to nothing, now as we see the price dropping to nothing we start to sell just so we can get something out of it. TPTB buy it back at way way less than we paid for it and they get even richer. Seems like a vicious cycle. And now we don't even have our "unwanted" jewellery and they own all the gold now. Just a thought/

Silver and gold wont feed you.

Buy food, guns and take workshops, prepare for the worst with skills and tools instead of buying into another form of the monetary trap.

Starving to death in your palace of gold will not look so brilliant to looters who wont even carry the weight of your doom.

The human does not survive a catastrophe because he was well prepared, he survived because he/she was capable.

Are you capable?


-G

A $212k investment in 2004 now worth $628k, loses over $31,000 dollars so yes that is a substantial loss in dollar terms but there is nothing else on this planet that could have nearly tripled the investment in 6 years.

A 212k investment in silver in 2005 would give you 42 400 oz

42 400 oz at today's prices would be worth 1 187 200

reply to post by ADUB77


The post was about 'GOLD'

Originally posted by daggyz
but there is nothing else on this planet that could have nearly tripled the investment in 6 years.

reply to post by Gradius Maximus


Don't worry about the people that invest in PMs. They typically have plenty of stored food, supplies, guns and ammo

And, yes ... I'm quite capable of working my farm

reply to post by GirlGenius


But which do you buy first?

2nd line

reply to post by Gradius Maximus


We bought the farm first. With that, we can always survive. Metals last. After the food and supplies.

hey guys good thread, Ive been keeping track of silver and gold prices since the end of november when i really knew it was something i needed to invest in, and just watch it until i was able to buy it myself... heres my list of prices:

11-29-10 S: 27.18 G: 1368.00
11-30-10 S: 28.16 G: 1389.70
12-01-10 S: 28.61 G: 1393.20
12-02-10 S: 28.80 G: 1390.90
12-03-10 S: 29.22 G: 1407.50
12-05-10 S: 29.81 G: 1412.70
12-06-10 S: 30.21 G: 1426.20
12-07-10 S: 28.90 G: 1393.20
12-08-10 S: 28.72 G: 1389.00
12-09-10 s: 28.67 G: 1386.90
12-10-10 S: 28.70 G: 1386.80
12-13-10 S: 29.93 G: 1407.80
12-14-10 S: 29.54 G: 1395.60
12-15-10 s: 29.13 g: 1384.10
12-16-10 S: 29.00 G: 1374.90
12-17-10 S: 29.21 G: 1376.50
12-20-10 S: 29.40 G: 1387.90
12-25-10 S: 29.30 G: 1385.40
12-30-10 S: 30.74 G: 1410.10
12-31-10 S: 30.93 G: 1422.60
01-04-11 S: 29.68 G: 1382.50
01-07-11 S: 28.71 G: 1370.80
01-10-11 S: 29.13 G: 1376.60
01-12-11 S: 29.67 G: 1388.20
01-15-11 s: 28.50 g: 1362.80
01-18-11 s: 28.88 G: 1369.50
01-19-11 S: 28.70 G: 1369.50
01-20-11 S: 27.66 G: 1348.90

as you can see it was rising pretty steadily until the end of 2010, and dropping since the new year

Originally posted by ADUB77

Originally posted by daggyz
but there is nothing else on this planet that could have nearly tripled the investment in 6 years.

This is false.

reply to post by Gradius Maximus

Silver and gold wont feed you.

Yes they will they have fed billions for generations by enabling them to buy food. This always comes up on these thread and it is a logical fallacy. Unless it is the apocalypse gold and silver will buy you food when nothing else will as they have done for thousands of years of history. If it does turn out to be the apocalypse then it won't matter any way.

Having said that most people who buy and take possession of physical gold and silver have already prepared with food water and other necessities of life and would agree that food, water, shelter, and heat are priorities over gold and silver so if you have those squared away then work on acquiring gold and silver.

In an economic crash after inflation gold and silver will be the main recognized medium of exchange. Fuel, bullets, alcohol, cigarettes, and coffee will also be good mediums of exchange.

So futures contracts which represent a promise to deliver are unable to do so. Sound like theres not enough supply to keep up with demand so the price should be sky rocketing, but its not.

This may help to explain why:

GATA sues Fed to disclose gold market intervention records

While GATA has produced many U.S. government records showing both open and surreptitious intervention in the gold market in recent decades (see www.gata.org...), Fed Governor Warsh's letter is confirmation that the government is surreptitiously operating in the gold market in the present as well. That intervention constitutes a huge deception of financial markets as well as expropriation of precious metals miners and investors particularly. This deception and expropriation are what GATA was established in 1999 to expose and oppose.

The usual commodities casino scam:-

Owners of silver /gold jack up the prices skyhigh, fueling demand and then intervene at delivery time to sell off in large blocks of paper contracts, pocket the differences, to bring the price and demand down so that REAL delivery of whatever gold or silver is made possible, to buy up even more gold or silver that is avaliable from other sources.

If the gold or silver is not avaliable, simply default, close down the company and set up another name to play the scam again. Not the first time or the last time bubbles are created. We flawed mortals never seemed to learn, and continue to trust pieces of paper backed by lies.

When SHTF, we will all die anyway. No amount of gold, silver, ammo, water or food will save us. Do hope that it will be quick to be merciful.

If SHTF and we do not die, it will be a community of people - human resources - sharing labour and whatever they have that will survive the longest, and not the lone individual, even if he alone have all the water, food, gold and silver. Minerals and resources will last only a period of time, but combined human ingenuity and shared labour will last far longer.

Silvers a bit over 27 on the oz atm... Try buying it for that... even if you contact a small refinery and tell them you have 5 thousand you would like to spend with them you are still getting it for a buck over spot. Then the S/H throws that 27 bucks over 30.... I'm new to buyin silver but before i started investing I did as much homework as i could...

Originally posted by SaturnFX
In "the future" a credit system will come into play, and no doubt fringe people will be saying paper money is more important than fictional electronic digits, because paper is something you can hold, digits is just perceived wealth...then beyond that, some unknown new form will come out and fringe people will demand we should hold onto our digits.

Future's now. There are already websites where you work and trade your skills in exchange for credits not cash. At the moment they seem to be independent attempts to offer an alternative to paper money but who knows if some government will try to overtake them or secretly wipe them out. Check out Skillsbox it was started by an old school friend of mine, Part of me fears for his safety if this does get popular before TPTB are ready to relinquish the pieces of paper they adore so much.

In response to the OP thanks, your post inspired me to do some online spread betting last night. I bet that silver would go down today and so far I've made nearly 100 quid!

Here's a link a friend shared with me a while back.

KITCO

I kinda wish I had a big ol fishing boat stocked with food water clothing, and fuel.

I'd anchor maybe ten or so miles off the coast and just listen to the radio while TSHTF.

I'd have my family and friends aboard, we'd do alot of fishing to pass the time.

Originally posted by wisdomnotemotion
reply to post by GirlGenius

 

The recent ongoing drop in gold and silver is undoubtedly high-level financial crime being orchestrated right in front of our eyes. The facts do not justify the downtrends.

It's not the facts, as troubling as they are...
the immediate reason for the 'dip' in gold & PM is a result of the Chinese Presidents' visit

Chinese leader Hu Jintao to visit USA during tense times ...
BEIJING — As Chinese President Hu Jintao visits the U.S. this week, the big ...
www.usatoday.com/news/world/2011-01-18-uschina18_ST_N... - Cached

as i see it... since the talks have been quiet, and there is no apparent strained relations revolving
around the almost $2 trillion that China holds in American paper/bonds/IOUs...
the market manipulators are signaling that the price of gold will not be going up anytime soon
because of the collapse of the USD because of any China policy to divest of their USDs...

evidently there has been a large buying of gold shorts in the futures market which will bring down
the cost of bullion immediately...but the coins will still have a premium on the sale,
what you are seeing in the modest dip in gold is indeed orchestrated by a group

i have redoubled my investment rate as of late into a gold & PM fund...i could not afford gold in coins
or in bullion, i can only do equities in a mix of big miners and junior miners of gold an silver and PM
(since year 2000, holdings have quadrupled + some)

reply to post by Dr Love


Actually it is the case.
It makes complete sense too if you think about it.
What do they do with silver mined? What do they do with gold mined?
I went and found a video to explain what I was saying. This doesn't explain it all, but it works.