GOLD HITS 900!!! made 25k in last 12 hours

[matthalifax]

has anyone thought of getting gold or silver in banks in switzerland? can you avoid paying such hefty taxes over there?

 

[Josh_LA]

dude ebay business is down 20 percent. they are not going to fare that well in a recession/depression. People don't buy necessities of Ebay and that's where the money will being made not in anything else IMHO

wrong, eBay will continue to be the best online market place, and if they're smart, they'll continue to allow sales of metals because it pays good. and people WILL use ebay more for necessities when they know its much easier than setting up their own store or shopping cart.

 

[danberkeley]

My main issue is that a second mortgage crisis might force banks to shore up reserves again, causing a temporary wave of price deflation.

If people who have prime mortgages lose their jobs and start defaulting, they could start liquidating their 401ks and IRAs to survive, thus, driving down the price of assets. I see this as one huge snow ball problem that hasnt stopped rolling down the mountain.

 

[Josh_LA]

i'm in the process of getting my hands on some serious quantites of silver. The amount of silver in the world is ridiculous I remember hearing a figure somewhere around 10 billion or something. But it's going to take a while to follow gold. The thing with Gold is it's more mainstream hedge funds buy it, people trust it more than silver. How often do you hear silver discussed on TV? some people think your crazy when you buy silver lol. But i think your right their will be more profits to be made in silver but it wont happen until people are baffled buy gold prices and look for something cheaper

this is where you don't understand

how many people do you know have as much money as you?

think of the millions of people who will suddenly think of buying gold , but cannot.

Because they don't have $1000, but they have $200, which they can buy 5-10 silver pieces. That is where people will quickly squeeze up the silver prices. Anybody who's bought silver the past 6 months knows, that even when silver was at 10-11 per ounce, it sells on ebay for $14-15.

 

[Josh_LA]

If people who have prime mortgages lose their jobs and start defaulting, they could start liquidating their 401ks and IRAs to survive, thus, driving down the price of assets. I see this as one huge snow ball problem that hasnt stopped rolling down the mountain.

assume they have liquidatable retirement savings that aren't free falling, yes.

 

[danberkeley]

wrong, eBay will continue to be the best online market place, and if they're smart, they'll continue to allow sales of metals because it pays good. and people WILL use ebay more for necessities when they know its much easier than setting up their own store or shopping cart.

Besides, Amazon.com is a much better marketplace for necessities.

 

[matthalifax]

dan i agree. but we're not talking about generally what's going to happen we're talking specifically about gold and silver which people will see as their option for safety especially in inflation starts to take place which it is bound to at least marginally.

 

[Josh_LA]

Besides, Amazon.com is a much better marketplace for necessities.

by "they" I mean eBay. who can take out a sweet cut as dependence grows.

Amazon is a good place too.

 

[matthalifax]

dan, postage prices, selling prices, delays unless you have goods that are in high demand or some unique selling point i don't see how your going to make that much money off it. If you don't have that much money to invest yeah but what is it exactly that your selling? give an idea of what your doing.

Also what are these stocks that your investing in that yield over 10 percent a month, just give some past examples or something

 

[danberkeley]

assume they have liquidatable retirement savings that aren't free falling, yes.

If people gotta pay the bills, then people gotta pay the bills. If it means liquidating your 401k for pennies on the dollar, then it means selling your 401k for pennies on the dollar. If it means selling your shit on eBay just to have money to buy food, it means selling your shit on eBay just to have money to buy food.

 

[banjojambo9]

you havent made it unless you sold it

 

[matthalifax]

josh your right. I know in Australia right now a 1 ounce silver coin is selling above spot price 450% because the mint is suspended because of overseas orders. I think coins will go through the roof first followed by a rise in the bars

 

[Josh_LA]

dan, postage prices, selling prices, delays unless you have goods that are in high demand or some unique selling point i don't see how your going to make that much money off it. If you don't have that much money to invest yeah but what is it exactly that your selling? give an idea of what your doing.

Also what are these stocks that your investing in that yield over 10 percent a month, just give some past examples or something

that's EXACTLY MY POINT.

5% IN A DAY AIN'T SHIT, because fees eat it up right away if you were to sell.

 

[TruthisTreason]

If people who have prime mortgages lose their jobs and start defaulting, they could start liquidating their 401ks and IRAs to survive, thus, driving down the price of assets. I see this as one huge snow ball problem that hasnt stopped rolling down the mountain.

Get your shorts in!

For the stock traders, a good way to invest in silver is: slv (its actually an etf).

Look at the max year chart.
http://finance.yahoo.com/q?s=slv
Of course, you go long on this stock.

 

[Josh_LA]

If people gotta pay the bills, then people gotta pay the bills. If it means liquidating your 401k for pennies on the dollar, then it means selling your 401k for pennies on the dollar. If it means selling your shit on eBay just to have money to buy food, it means selling your shit on eBay just to have money to buy food.

yes, but my point was, if retirement savings values free fall, it'll mean a lot about the stock market falling, which would indirect affect a lot of other parts of our economy, not that people won't do it, but it would be interesting to see where the money ends up (or disapppears).

 

[matthalifax]

I agree that ebay will become flooded with sales but so much of ebay's business relies on electronics, novelties I do think they'll still be strong sales on there but I think the ripping of the retail market that's happening and continuing to happen will rip it.

I'm getting a little confused are you saying that you selling stuff on ebay is better than gold? or ebay is? what are you selling?

 

[danberkeley]

dan, postage prices, selling prices, delays unless you have goods that are in high demand or some unique selling point i don't see how your going to make that much money off it. If you don't have that much money to invest yeah but what is it exactly that your selling? give an idea of what your doing.

Also what are these stocks that your investing in that yield over 10 percent a month, just give some past examples or something

off what? please clarify. i'm not sure which post you are responding to.

by "they" I mean eBay. who can take out a sweet cut as dependence grows.

Amazon is a good place too.

i know you meant eBay. the marketplace on eBay has been getting worse every month for at least the past 2 years. eBay management is very incompetent

dan i agree. but we're not talking about generally what's going to happen we're talking specifically about gold and silver which people will see as their option for safety especially in inflation starts to take place which it is bound to at least marginally.

i was responding to kaju.

 

[matthalifax]

i have lost trust in anything paper, I've watched a whole lot of gold and silver conferences and a common theme is if you want to protect your wealth your going to need your gold in your house and if you are in the united states have your gold and silver outside the united states. I saw marc fabel on CNBC a while back saying anyone who is buying gold and silver should be definitley holding it outside the US

 

[matthalifax]

sorry "dan (meant josh), postage prices, selling prices, delays unless you have goods that are in high demand or some unique selling point i don't see how your going to make that much money off it. If you don't have that much money to invest yeah but what is it exactly that your selling? give an idea of what your doing.

Also what are these stocks that your investing in that yield over 10 percent a month, just give some past examples or something" that was directed to Josh, please answer josh

This is my first time using a forum so I'm a bit lost lol.

 

[Josh_LA]

I'm getting a little confused are you saying that you selling stuff on ebay is better than gold? or ebay is? what are you selling?

yes, I did mention it in 2 different contexts

1. You can sell anything on eBay, I make t-shirts and sell them on eBay. I make more than 100% profit (after fees), it takes time, but it pays

2. for gold and silver, eBay will continue to allow it, because it pays them good in fees and it's hard to replace by a competitor