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Gold bullion is real, honest money...and, many say, the best form of money the world has ever known. It is a store of value and a safe haven in times of crisis. Gold is rare, durable and does not wear out in the manner of lesser metals (or paper!) when passed from hand to hand. A small amount, easily carried, can purchase a significant amount of goods and services. It is universally accepted, and can be easily bought and sold around the world.
Today, the beauty of a gold bar lies in its ability to diversify investments, protect wealth and preserve one's purchasing power.
Closed @ $1769 today.
Will open tomorrow much higher.
Using inflation to buy the debt they created, only hurts the poor and middle classes.
They have been doing it for decades. Just this time, there is no productivity to fall back on. It has all left and gone to China & Indonesia.
Gold is great but why can't they see that they are destroying the dollar, unless of course that is the goal
"They" only care about one thing. Wall Street. That is all that those like Bernanke and Geithner know. It's their whole life. It's like telling a person that has done nothing but fished for a living that they now have to run a boutique in NYC.
Gold will crash and when it does it's going to be ugly.
"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar...
Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today's price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China's announcement...
On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want... there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar."
"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar...
Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today's price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China's announcement...
On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want... there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar."
Why do you take advice from a complete moron ?
I mean the guy you are quoting sells GOLD and AMMO from his website that looks like it was made on geocities in 1996. He appears to have received his economic training from the book of Deutoronomy. I reckon this just screams "CREDIBILITY" if you are from Oklahoma.
Gold performs inversely to the global confidence in central bankers. Fear and widespread cluelessness makes it spike; if the fear subsides and confidence returns, then you will lose your ass.
I mean the guy you are quoting sells GOLD and AMMO from his website that looks like it was made on geocities in 1996. He appears to have received his economic training from the book of Deutoronomy. I reckon this just screams "CREDIBILITY" if you are from Oklahoma.
Gold performs inversely to the global confidence in central bankers. Fear and widespread cluelessness makes it spike; if the fear subsides and confidence returns, then you will lose your ass.
The most successful investor in the USA Warren Buffett is paying early termination penalties to exit the muni bond market!!!
I guess all that bond paper will keep you warm for a couple of minutes when you light them on fire. Maybe you can eat them for fiber although the ink on them may not be so good.
The Federal Reserve already started open ended QE3! They plan to print money for at least 3 more years!
The most successful investor in the USA Warren Buffett
..(A) didn't write the article and (B) makes fun of people who buy gold
Quote:
Originally Posted by KrazeeKrewe
is paying early termination penalties to exit the muni bond market!!!
which is not a reason to buy gold
Quote:
The Federal Reserve already started open ended QE3! They plan to print money for at least 3 more years!
i'm not saying buying gold is always a bad idea. i'm saying that it's more akin to betting than investing, and that the author of that website in the OP may not be the best source of advice.
Ill pm you my address, please send any worthless gold you may have my way.
I think he's making reference to this fairy tale handed down through time that gold "has value in and of itself" that paper does not.
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