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Time to dump gold?

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posted on Sep, 29 2011 @ 04:42 PM
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Originally posted by illuminatislave

Originally posted by camaro68ss

Originally posted by illuminatislave
Can't eat gold, can't use gold to defend yourself when SHTF.



cant eat fiat paper, cant defend ones self with fiat paper ( unless rolled up in balls and used as spit wads)


Nope, you can't. I'm just saying that supplies and firearms will be more valuable than gold coins when it's time for our collective comeuppance


You may have gold, but some gasoline to run a generator, or some rice/oatmeal may end up being more valuable, you know?
edit on 29-9-2011 by illuminatislave because: (no reason given)


its eather gold or supplys with people. why not both! you buy gold after you house is stockpiled with supplys. Its a store of wealth. once you have everything you need you going to need to put the rest of your money into something..... gold




posted on Sep, 29 2011 @ 04:44 PM
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What?....

I'm confused here. Gold isn't backed by anything? Or at least relative to paper fiat currency, which is backed by the ever-so-stable United States Treasury?

The only logical argument to her words would be that the market supply of gold bullion doesn't actually exist physically, or at least not wholly, and that investors are simply trading "imaginary" gold in the form of certificates. If news were to come out and the government would say, "Well... we can't find where we put most of the gold... it's missing", then things would get bad. I don't think that's what she's saying, and if that were the actual truth, I don't think she would say it. That would be a rollercoaster.



posted on Sep, 29 2011 @ 04:45 PM
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Originally posted by DJDigitalGem
No offense but I'd rather be sitting on a stock pile of things that I can use to barter. We've been stocking up on all kinds of personal hygene items, toilet paper, paper towels, pet supplies, canned foods (soups, stews, veggies, meats etc..), beans, rice and I want a big stock pile of BOOZE as well.

Gold will be worthless if the $hit hits the fan!


I agree with everything you said with the exception of gold being worthless if the SHTF. I know you can't eat it but eventually some form of economic recovery will happen (we hope) afterward and those who are holding gold and silver will have the only true form of wealth left. Gold has been used as currency for thousands of years all over the world. Why would that change...that is once society begins to rebuild?



posted on Sep, 29 2011 @ 04:47 PM
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you all don't buy gold/bullion nor shares on the dips


that way the price stays low for when i'lll have money (tomorrow) to access my fund and do my final $177.00 into my retirement account....

i do however need to buy another $200 investment to make my total accumulated costs at a nice round number...
namely 10k



posted on Sep, 29 2011 @ 05:03 PM
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People who invest in gold according to the shift think in some ways society will still be the same. that they can trade their gold into the grocery store and purchase stuff. They seem to believe that people will trade them their can of beans for a bar of gold.

its quite funny......if you want to invest in something try hording something people can use after the shft. some thing they will want to trade for a can of beans or whatever.

like ummmmm

1. medical supplies will be in big demand
2. amenities, soap, shampoo, gas for fire or something that makes a person feel comfortable.
3. Alcohol hard liquor not beer although a case or 2 not bad idea.
4. drugs yes i said it drugs....whatever that may be folks are going to want to forget.
5. pharmacological drugs
6. home supplies made from cast iron, tea kettle, pots, something to wash your clothes.
7. bullets will be in demand, people will have guns but not bullets.
8. sleeping bags will be a great asset to trade.
9. entertainment of some sort ipod, but you will need a solar charger for that.
10.Food will always be a thing to trade.



posted on Sep, 29 2011 @ 05:07 PM
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The reporter is too unsophisticated to realize that what she's describing is a fundamental plus. Unlike paper currency, Gold isn't "backed" by a government's promise to pay. In other words, Gold has zero counterparty risk.

She must be a 'bottle brunette'


Cheers!



posted on Sep, 29 2011 @ 05:46 PM
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OMG! Has "Jersey Shore" has infiltrated the Mainstream media?

Inquiring minds would like to know.



posted on Sep, 29 2011 @ 05:50 PM
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Originally posted by Resonant
What?....

The only logical argument to her words would be that the market supply of gold bullion doesn't actually exist physically, or at least not wholly, and that investors are simply trading "imaginary" gold in the form of certificates. .



And that possibility is why one should own either bullion or shares of major gold producers...
when the ETFs are found out to be merely mirages of bullion in 10' high stacks of ingots,,,
then the miners & produces will be upped by 500% in their value (at least thats my outlook)



posted on Sep, 30 2011 @ 12:02 AM
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Wow.

I have to question whether Bridgett necessarily believes what she is reporting, particularly that bit on the Fed Reserve, "still being here next year."

Gold has been around since, oh, maybe 200,000 million years+? The Fed Reserve's backing is how old now? 100 years?

So what might gold be backed by? How about time?

Thanks for posting that video. I'm going to show that in class tomorrow and carefully observe my Prof.'s reaction.



posted on Sep, 30 2011 @ 12:04 AM
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I love threads that open with a video and an author too lazy to add anything because for those of us unable to watch the video, the OP says absolutely nothing.



posted on Sep, 30 2011 @ 12:17 AM
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reply to post by Sanndy
 


A near-verbatim transcription:

Anchor: Bridgett joins us now: Bridgett, overall, how did today compare to yesterday?

Bridgett:

The biggest surprise of today was definitely gold. It was down about 100 USD an ounce. That represents the biggest two-day drop in 28 years.

There’s [sic] a couple of things going on today. Some investors were selling off their gold holdings to try to make up for losses in other areas; but Todd Hersh says there’s something else happening here, too. Some investors are not confident with what gold is backed by, or if it is backed by anything at all, as compared to something like the USD.

Investors are comfortable that the USD is backed by the American Government so that no matter what is happening to the American economy, something like the USD is backed by the Fed Reserve; and that is going to be around a year from now. That’s a much more comfortable investment for them.



posted on Sep, 30 2011 @ 12:21 AM
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reply to post by Kovenov
 


Thank you very much. I guess I just do not feel it is too much to ask the OP to at least give a tiny hint as to what is in the video. I do not need a whole transcript and thank you very much for the effort. I just wish people would at least give some kind of idea what the video is about before the second page in the thread.



posted on Sep, 30 2011 @ 12:22 AM
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reply to post by VariableConstant
 


1 million % proof that gold is not even CLOSE to topping

LMFAO!!!! can u believe we have such stupid people out there!



posted on Sep, 30 2011 @ 12:25 AM
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reply to post by Sanndy
 


No worries. I wasn't certain whether you were just peeved about the lack of comment on the OP, whether you had interest in what was reported as well, or both. In either case it was a brief report and did not take too long to transcribe.

Take it easy.



posted on Sep, 30 2011 @ 12:25 AM
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Originally posted by camaro68ss

Originally posted by illuminatislave
Can't eat gold, can't use gold to defend yourself when SHTF.



your "cant eat gold" quotes are so moronic it drives me nuts. Those who have gold in hand most likely already have the supplys to eat and pretected once SHTF


you can't eat DOLLARS either. dollars are liabilities..debt

gold is a liability or debt to know one

its the ultimate asset in a universe of ponzi comics



posted on Sep, 30 2011 @ 12:27 AM
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reply to post by Kovenov
 


Both and that is why I really appreciate it. I cannot tell you how many threads I just closed and never looked at again because they followed this exact pattern.

"Here is a video, isn't it cool"
"Thanks for sharing that is really good stuff!"
"Great vid, they make great points!"

This one seemed like it might be about something real and interesting for a change.



posted on Sep, 30 2011 @ 01:50 AM
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Gold bullion is more stable then fabric treasury notes. Keep your gold!



posted on Sep, 30 2011 @ 02:12 AM
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Originally posted by InshaAllah
People who invest in gold according to the shift think in some ways society will still be the same. that they can trade their gold into the grocery store and purchase stuff. They seem to believe that people will trade them their can of beans for a bar of gold.

its quite funny......if you want to invest in something try hording something people can use after the shft. some thing they will want to trade for a can of beans or whatever.

like ummmmm

1. medical supplies will be in big demand
2. amenities, soap, shampoo, gas for fire or something that makes a person feel comfortable.
3. Alcohol hard liquor not beer although a case or 2 not bad idea.
4. drugs yes i said it drugs....whatever that may be folks are going to want to forget.
5. pharmacological drugs
6. home supplies made from cast iron, tea kettle, pots, something to wash your clothes.
7. bullets will be in demand, people will have guns but not bullets.
8. sleeping bags will be a great asset to trade.
9. entertainment of some sort ipod, but you will need a solar charger for that.
10.Food will always be a thing to trade.



ahhhhhh so what your saying is even tho gold and silver has been going back as far as our history and always always been the source of wealth and always will be when the "shift" happens and that is even if it actually does then instead of trading for gold id be better with hoarding kettles, teapots, bullets, coc aine, ketamine, and last but not least an IPAD...........................

lol ok then guess what im gonna sell my gold i have accuired all through my life and by pots and pans,drugs and mp3 players ................

jesus
edit on 22/9/2011 by theruthlessone because: no reason

edit on 22/9/2011 by theruthlessone because: too long



posted on Sep, 30 2011 @ 02:38 AM
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First in the 1850s in calif few gold miners got rich.

But many shopkeepers made a lot of money.

Levies jeans are made by a company that started supplying the gold miners.

Wells Fargo bank started as a stage and freight company.

The only way to really make money on gold is to cause the price to go up and down.
Buy low Sell high.
So the rich put out stories or other reasons for people to sell there gold while they sell there's.
Once they get people selling gold the price drops,
Then when the rich think the price is low enough they start buying.
When they have all they want they start feeding out stories to get the public to start buying
The price starts going up and many keep buying even after the price starts to peak.(now)

That is when the rich start selling and wait till they are ready to start the cycle again.



posted on Sep, 30 2011 @ 03:09 AM
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Originally posted by Resonant
What?....

I'm confused here. Gold isn't backed by anything? Or at least relative to paper fiat currency, which is backed by the ever-so-stable United States Treasury?

The only logical argument to her words would be that the market supply of gold bullion doesn't actually exist physically, or at least not wholly, and that investors are simply trading "imaginary" gold in the form of certificates. If news were to come out and the government would say, "Well... we can't find where we put most of the gold... it's missing", then things would get bad. I don't think that's what she's saying, and if that were the actual truth, I don't think she would say it. That would be a rollercoaster.


The US treasury doesn't back currency. The Federal reserve actually backs US currency, and domestic currencies are valued based on the potential annual production capability of the country issuing the money. You look at how much "stuff" was made, used and paid for the year before. You then value that amount, guess at how much MORE can be done in the next year, and then value your currency based on those numbers, after you crunch in what other countries money is worth compared to yours based on their production ability.

Many people never understand the concept that when buying gold certificates, you don't actually own any gold. You own a piece of paper, a bond, that states that as the price of gold changes, this piece of paper entitles you to the increase, and to owing the decrease, for a certain amount of gold that is held in your name.

If you want to sink your money into gold, you go to a jewelry or watch or coin store and you buy gold coins and you keep them in a safety deposit box or better yet, in your house.

If you own 3 million dollars worth of gold certificates or bonds and the SHTF, you own exactly 0 gold. Because your gold was in a vault thousands of miles from you and it will be one of the first things raided when the collapse happens.


If you own 5 thousand dollars worth of gold coins when the SHTF you still own 5 thousand dollars worth of gold that will be revalued when some form of stability is regained. But even in the best situation during SHTF, I'm not going to give you my last gun, for 3 of your gold coins.
I'm going to use my gun, to take all of your gold coins, and then I'm going to use that gun as best I can to defend all my new gold coins LOL.



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