 "How did you come to gold? Decipher the great transition all by yourself, did you?"
"And why exactly are you holding PM's? I will assume you buy PM's because you expect them to go up, reset or not. "
Both quite valid questions.
I started as a rock-hound back in the 50's and by the mid-60's I began prospecting. Gold was $35/ozt back then.
I continued off and on ever since. The demands of family kept me from full-time pursuits until about 15 years ago.
Where was GATA back in the $35/ozt days?
I hold PMs as my last line of financial defense from inflation.
Though the ROI is less than break-even as of late, it still vastly exceeds Twitter, Facebook or several hundred other equities.
The future upside greatly exceeds the potential of the bond market.
Lastly, the saver (someone holding) knows that what can become generational wealth is measured in troy ounces, grams, taels or whatever weight units are common to their country of residence. Currency comes and currency goes. No fiat money has ever proven itself as a dependable savings vehicle. NONE!
I don't disagree with GATA when it comes to market manipulation. PMs will inevitably increase in value against currency. But like the Chinese, I like lower prices. GATA is fighting against my preferences. And why?
Perhaps GATA and its core supporters are holding and waiting for a big pay-day.
Sooner or later, they will get that pay-day with or without GATA.
Let me know how it works out for you.
When we will see worthless fiat, shortages of needed commodities and don't forget taxation with tax bracket creep.
And don't kid yourself for a minute, the social conditions will devolve into lawlessness. See Detroit as an example.
I'm not a gambler aka speculator commonly called investors by those who are just kidding themselves.
I do on occasional sell, but it is raw placer gold and I replace it with refined and fabricated goods common to the PM trade.
And I have traded within the PM sector such as Ag and boot for Au.
I don't sell PMs, I sell USD for PMs.
Might I suggest you all get off your high horses and read, "The Richest Man In Babylon", by George S. Clason. It is available on the web as a free download.
Though written back when gold was still used as money, it is just as applicable today.
PMs need not be sold to gain funds for profitable enterprises. They can be used as collateral for borrowing.
Isn't gold used as foreign reserves by CBs?
As a rural property owner with admittedly only modest assets and NO DEBT, I earned the right to be a bit arrogant.
I proved what someone from blue-collar parents on a blue-collar income can accomplish and raise a family.
Admittedly, I made plenty of serious and costly errors along the way.
How many free-throws did Michael J blow? How many strikes did Hank A accumulate? Or Bart S incomplete passes?
Some might accomplish the mission in 10 years, some might take 40+. The trick is to complete the mission no matter what set-backs you bring upon yourself.
Our current station in life is the direct result of every decision we made along the way. Screw-up, fess up and made the needed corrections.
Failure to make a timely decision is a decision.
Yah, a bit arrogant. But the more folks can take care of their own financial problems, the less problem they will be for me and others.
So why would a saver like myself frequent this site? Every month I have a budgetary process to consider. With some food resources on hand and no debt, news can give me reason to buy more PMs or more food and supplies depending on my analysis on conditions. If I go all in on PMs and I'm wrong, eating beans and rice for a month is still better than eating cardboard and the additional PMs are still mine.
I doubt that GATA will change anything. Every buyer and seller attempts to manipulate the market in their own best interests.
Which brings us back to, "What are the best interests of GATA and its core supporters?"
I doubt it is altruism. Feel free to prove me wrong or at least trot out some compelling evidence to the contrary.
In the meantime, low PM prices makes further accumulation possible. Rising markets tend to become self reinforcing and promote foolish decisions resulting in debt and bubbles.
I got 8 down arrows last time, how many for this tidbit of arrogance? Once again, download "The Richest Man in Babylon" and read it, ponder it and then attempt to find any flaws in the reasoning. Time really is of the essence. If things can't go on forever, it will end. If something is possible, it is inevitable otherwise the term is impossible. Take personal responsibility for your own decisions. Commented 3813 days ago |
| Beginning of the headline :Gold researcher Koos Jansen has unearthed another confidential U.S. government memorandum describing in detail the government's objective of demonetizing gold and suppressing its price.
The memorandum, dated March 6, 1974, was written by Sidney Weintraub, the deputy assistant secretary of state for international finance and development, to Paul Volcker, undersecretary of the treasury for monetary affairs and future chairman of the Board of Governors of the Federal Reserve, who last year at least... Read More |
