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Hart
Member since May 2012
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has posted a comment on the article :

Silver and Gold Continue To Bleed

- Dan Dontrose - The Fundamental View

Sorry for the delay in responding, I was traveling again with no internet access.

My reference to history lessons are those that seem to be forgotten. My grandparents lived through the mess that was Weimar Germany. The lesson learned was that those who possessed gold and silver were able to buy food, when it was available. Upon their arrival in Canada they immediately squirreled away every silver coin they came across knowing that at some point in the future they would be of far greater value than paper. This saving of gold and silver was passed down and has always been the main reason I've kept only physical metals. I've never seen them as something I would gamble on and wont. Many people here only focus on the investment side of PM's, not how they will come into play once the system implodes. Yes I know when things go bad, there are many other things that will immediately be worth more than PM's but once a system of commerce/exchange is implemented again gold and silver will again take their place as real money and those who possess them will have the advantage. Those that saw PM's as nothing more than investments to be bought and sold to make a profit, especially the paper variety, will surely be the loudest whiners looking for a handout at the soup line.

When I wrote the comment it made sense in light of the above but of course I did not convey this.

End of the day, PM's will retain value as they always have.

Commented 4071 days ago

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Beginning of the headline :Carnage is the word on the street when it comes to the precious metals and believe me when I feel badly for anyone left holding the back on silver and gold, especially those that bought at the extreme prices in May of 2011 for Silver and October of that year for Gold, I am filled with anger at the charlatans that continued to tell investors to keep buying any dips and called for extreme price movements because of their manipulation claims. The reality is as plain as day in the metals markets... Read More

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