If this happens before Super Tuesday, Ron Paul will be our next President

[animator]

I certainly hope all that doesn't happen by super tuesday. That would really suck.

Since the fed statements, the price of gold has been going down btw.

If you want to own gold in large quantites, look into the Perth Mint in Australia. They will store it for you as well if you like. Which might be the way to go since the U.S. government has made gold ownership illegal in bad economic times before.

If you want just a few coins, you can get those anywhere.

 

[msirilla]

Okay, this is (almost) getting me sick! I've got all our retirement account allocated to stocks and bonds (with a little in real estate and a little in a guaranteed account [a measely 3%!]). So what should we do?!!! Is it too late to take it all out and roll it over into precious metals? We really can't afford to lose our retirement savings

Please, any advice would be most welcome!!!

Since the end of last quarter (December) our account has actually lost $3,000 because I've allocated so much to stocks.

Ugh!

 

[RonPaulRocksMyWorld]

Okay, this is (almost) getting me sick! I've got all our retirement account allocated to stocks and bonds (with a little in real estate and a little in a guaranteed account [a measely 3%!]). So what should we do?!!! Is it too late to take it all out and roll it over into precious metals? We really can't afford to lose our retirement savings

Please, any advice would be most welcome!!!

Since the end of last quarter (December) our account has actually lost $3,000 because I've allocated so much to stocks.

Ugh!

No reason to panic just yet. It wouldn't hurt though to roll some over into gold/silver or any other precious metal because those are pretty much guaranteed to be safe investments (also not likely to increase a great deal). Diversity is definitely the key.

 

[mokkan88]

Okay, this is (almost) getting me sick! I've got all our retirement account allocated to stocks and bonds (with a little in real estate and a little in a guaranteed account [a measely 3%!]). So what should we do?!!! Is it too late to take it all out and roll it over into precious metals? We really can't afford to lose our retirement savings

Please, any advice would be most welcome!!!

Since the end of last quarter (December) our account has actually lost $3,000 because I've allocated so much to stocks.

Ugh!

Take some out and invest it gold coins. If you're already invested in stocks, I'd recommend transferring to Gold.

I'd still get a second opinion.

 

[Thrashertm]

Here's the article I happened upon before buying gold.
http://moneycentral.msn.com/content/invest/extra/p143352.asp

I bought the two stocks mentioned - IAU and GLD. Both of those stocks
are actually ETFs, with .4% management fees, like a mutual fund.

 

[gerryb]

Here's the article I happened upon before buying gold.
http://moneycentral.msn.com/content/invest/extra/p143352.asp

I bought the two stocks mentioned - IAU and GLD. Both of those stocks
are actually ETFs, with .4% management fees, like a mutual fund.

Don't buy ETF's. Buy physical. Buying ETF's actually helps to suppress the price of gold and is big cash cow for the people who run the ETF's. They make their .4% management fee, but then they also lease the physical gold (meaning they don't have any physical gold, just a promise from someone else to return it to them later) and earn additional interest on the lease.

In a SHTF scenario, you will loose every penny because the people they leased the gold to will go bankrupt and never repay their IOU's.

go to kitco.com for news on PM's, and I recommend apmex.com for buying physical online. Local coin dealers are good too.

 

[TulsaRevolution]

Are there any places that sell gold that will not require you to show ID or record your SSN? Obviously online is out of the question. How do local places operate?

 

[FreedomRings]

Also check out http://www.goldmoney.com/ and http://www.bullionvault.com/ - you buy gold and they store it in their vault. It's safer than ETFs and the next best thing to owning physical gold. (However, in a severe global crisis their gold stash might become an attractive "target".)

Also, I think they will do anything they can to postpone an actual crisis until after the elections. So even though I'm quietly buying gold I'm not quite ready to hit the panic button yet.

 

[smartguy911]

Consumer demand would slam shut.

how the hell do we protect myself? we have a family business and things are already slowing down. barely any demand.

 

[Benphranks]

This is not the first time Jim's newsletter has predicted this. While investing in PMs is certainly something one may do as part of their portfolio...the sky is not going to fall-down tomorrow, no matter how many times Jim predicts it.

 

[AircooledVW]

Just a to throw this out there Silver is an excellent investment too. I bought most of mine when spot was at $8 a year or so ago and now its going for $16. To whoever asked about recording your name and SSN...it all depends on how much you have purchased. I think its something like $10,000 worth of gold in a year and they take your name and number. This is per business might i add. Most coin dealers i know are the older type that dont really give a damn about that though. If you can find a Coin Show going on in your area you can hit up several dealers. Silver is a good choice however because of its easy fluidity. Lets say the inflation goes bannanas like 1923 Germany...if you have a solid Troy Ounce of Gold thats great for a very large purchase. On the other hand if you just need a few groceries a couple silver quarters would work much better. Imagine buying groceries with a $1000 bill and trying to get change. Thats what Gold will do for you. Im not dissing gold by the way its a great way to protect wealth. However it is very wise to keep an emergency stash of Silver for day to day purchases should it become necessary. Definitely stick with actual physical gold though. The stocks are great and whatnot but when worst comes to worst youll be out on the street....For those that wish to go the extra mile i would invest in a good firearm. Because if your sittin on a stash of Precious Metals you may be a target for theives and whatnot. If you plan on investing A LOT OF MONEY platinum and palladium would be good choices. If your just not sure i would check out your nearest coin dealer and just sit down and talk with them. Most are very friendly and more than willing to go over all the ins and outs of Numismatics. Thats just a fancy word for coin collecting by the way.

 

[buffalokid777]

I've been reading Jim's newsletter since approx 2000 and this is not the first time I've read one like this. While investing in PMs is certainly something one should do as part of their portfolio...the sky is not going to fall-down tomorrow, no matter how many times Jim predicts it....I know he's scared the heck out of me many times over the years.

I wouldn't ignore it this time....all the doom and gloom predictions in the past 20 years have NEVER been accompined by a dollar so devalued by overprinting at the FED....heck they stopped releasing M3 numbers to hide how much they are printing from the average investor which is exactly when gold started to really surge a couple years ago.....

If the PPT starts pumping in bailout cash the bubble is moved back a month or two....but it's gonna burst this time.

Bernake is following the exact same game plan as the FED did pre 1929, cutting interest rates all the way to the crash.....if you have big savings in the bank.....don't say no one warned you to get into something stable like gold....Bernake is a complete criminal......they still lie saying the econamy is still fundamentally strong but slowing....these people at the fed are 6 months behind the curve....anyone with half a brain saw this coming many months ago to several years ago for the smarter when the FED stopped releasing M3 money supply numbers.

One bright spot if you have gold and a mortgage, think how cheap you'll get to buy out your mortgage for when you sell off your gold. And if you have a lot of gold...think how much property you will be able to buy up for a fraction of what's it worth compared to what you paid for the Gold if you bought in several years ago to the metals market.

 

[TulsaRevolution]

Just a to throw this out there Silver is an excellent investment too. I bought most of mine when spot was at $8 a year or so ago and now its going for $16. To whoever asked about recording your name and SSN...it all depends on how much you have purchased. I think its something like $10,000 worth of gold in a year and they take your name and number. This is per business might i add. Most coin dealers i know are the older type that dont really give a damn about that though. If you can find a Coin Show going on in your area you can hit up several dealers. Silver is a good choice however because of its easy fluidity. Lets say the inflation goes bannanas like 1923 Germany...if you have a solid Troy Ounce of Gold thats great for a very large purchase. On the other hand if you just need a few groceries a couple silver quarters would work much better. Imagine buying groceries with a $1000 bill and trying to get change. Thats what Gold will do for you. Im not dissing gold by the way its a great way to protect wealth. However it is very wise to keep an emergency stash of Silver for day to day purchases should it become necessary. Definitely stick with actual physical gold though. The stocks are great and whatnot but when worst comes to worst youll be out on the street....For those that wish to go the extra mile i would invest in a good firearm. Because if your sittin on a stash of Precious Metals you may be a target for theives and whatnot. If you plan on investing A LOT OF MONEY platinum and palladium would be good choices. If your just not sure i would check out your nearest coin dealer and just sit down and talk with them. Most are very friendly and more than willing to go over all the ins and outs of Numismatics. Thats just a fancy word for coin collecting by the way.

Good information, thanks! With the patriot act in full effect, I know any transactions are supposed to be recorded so the government knows how much money I spent on gold. There is also precedence from the great depression of the government seizing people's gold, so not going in the database might be a good idea.

 

[reaver]

You might laugh at this too but it a really safe bet right now are the 1981 and older 95% copper pennies because you can still get them for a penny a piece by picking them out of circulation. They're already worth 2.2 cents each but there is a melt ban in effect that will likely be dropped in the next few years. People are already buying them on ebay in large lots for about 1.8 to 2 cents each. With continued inflation you might see them worth 4 cents each in the next few years. Sorth through some pennies and get a couple $25.00 boxes and hold on to them. If nothing you can sell them back to the bank later for a penny each and lose nothing but sorting time. Some 1982 pennies are 95% too but some are also the zinc versions so I just ignore the 82's

But in 83 some were coined 95% copper- Those run about $15,000+

 

[Peace&Freedom]

This article explains the way to buy gold directly with minimal documentation hassles is to buy as a collector, not as an investor:

http://www.strike-the-root.com/61/blow/blow10.html

 

[Telkandore]

OK so who wants to start planning a new colony for the 8% of the general population that's informed? Jupiter has like 63 moons; one of them's gotta have decent weather or something.

 

[fatjohn]

No, the fed will dope the economy if necessary to hold on until the elections are over after which recession will clearly strike in the US dragging down an already badly performing Japan and UK. Did I say recession because i wanted to say depression, if you watch through the fraud of the inflation numbers you'll see USA is already in a recession.

 

[TulsaRevolution]

No, the fed will dope the economy if necessary to hold on until the elections are over after which recession will clearly strike in the US dragging down an already badly performing Japan and UK. Did I say recession because i wanted to say depression, if you watch through the fraud of the inflation numbers you'll see USA is already in a recession.

Ive noticed that most of the economic "activity" we have had since the first Bush recession has been in the form of medical/hospitals, mcmansions going up thanks to overborrowing, and the energy sector here since Tulsa benefits from high oil prices. Virtually all other areas just seem flat, stagnant, or depressed. Lots of new hospitals and medical buildings thanks to the medical industrial complex and the steady everincreasing stream of medical expenses. Lots of houses have gone up thanks to crazy cheap lending, interest-only loans, and things of that nature. And here in town our energy companies have been doing good. The banks are doing good too. I can't think of a whole lot else though. My city lost a ton of white collar jobs 5 years ago, and they all got replaced with call center jobs, retail and service jobs. $8-12 a hour unless you're in oil, medical, or were already wealthy. All of the construction and half of the fast food is being done by illegals.

 

[PaleoForPaul]

Paul's solution would be the best for the economy long term.

People won't want that though, they will look for their government handouts, look what happened last time there was a depression.

 

[JSutter]

Gold and Silver are off and running this morning.

I wouldn't advise anyone to roll ALL their savings into precious metals but they are a good store of value. Most people recommend investing 30% of your precious metals money in gold and 70% in silver. My recommendation is to buy in physical form that way you control it and never have to worry about it not being there. In the 1980's when silver went through the roof up towards $50 an ounce a lot of people got cheated out of the silver they "owned" that was in someone elses control and lost their money.

Some of the precious metal pools or stocks don't allocate gold to a specific person. They work kind of like fractional reserve banking they might sell the same gold to several people betting that they will never all call for it at once and that if they have to they can buy more later to cover it. If everyone makes a run for their metal they may not have enough to cover it and if prices go too high or become scarce on the market they wont be able to afford buying more or cant find it and it's not there for you.

I'd rather have mine in a safe place under my control than worry about it not being there when I need it.