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Post by xtra on Sept 20, 2008 20:09:47 GMT -6
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Post by unlawflcombatnt on Sept 21, 2008 8:49:16 GMT -6
It's worth noting again that the recent decline from the March peak in Gold was roughly -25%, while it was about -50% in silver, platinum, and palladium.
Though all precious metals have declined from their peaks, gold seems to be holding its value a lot better than the other precious metals.
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Post by graybeard on Sept 21, 2008 8:54:11 GMT -6
I didn't see on that site how they justified those numbers. Gold has historically averaged 47 times the price of silver. Right now it's about 850/12, or 70 times. 2500/250 is only ten times.
Gold's use is largely for jewelry and money. You pay somebody to dig it out of the ground, then you pay somebody else to store it underground.
Silver has great industrial utility. When the economy tanks, so will the industrial consumption. Will it hold to even one forty-seventh the value of gold?
I understand holding precious metals for protection against inflation. When the banking system fails, who can you sell your metals to for your living expenses? Will we go back to a de facto gold standard, with all retail transactions in gold and silver, or will the govt outlaw private holdings of precious metals? What will Commie China do when they control all financing in the US?
GB
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Post by jeffolie on Sept 21, 2008 13:58:55 GMT -6
At $2500/oz gold, you would be better off having 1/4 oz coins (ie $5 US Mint) to barter with or silver dollars and silver dimes.
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Post by jeffolie on Sept 21, 2008 14:04:16 GMT -6
My view of precious metals is 2 fold.
First, I must have a vehicle to buy everyday supplies during the inflationary period.
Second, I must have my wealth in valuable assets after the Dollar is eliminated and replaced with a sound currency.
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Post by db on Oct 9, 2008 17:33:47 GMT -6
If these RepubliCon Criminal Clowns keep it up and say seem intent on it, it would be wise to hold gold and silver coins. They have bankrupted America, and now they seem determined to destroy America's currency. It would be wise to hide some gold and silver coins away.
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