Our dollar going down

[VIDEODROME]

Its a slow change to the average person which is why more people are not revolting by now, but were are getting close to critical mass and the scales are tipping.

It's been a slow gradual insidious process. Spend another nickel here, spend another dime there. I keeps adding up until you start wondering what the hell happened to your purchasing power.

Along with this most American wages have not kept up. Lots of jobs still pay less then $10 an hour and those workers keep struggling more and more.

 

[RPFTW!]

Where is the best place to get into gold, I'm a total noobie when it comes to this and honestly I'm pretty worried about all this talk of the fed lowering rates tomarrow... any advice?

I'd start with silver, go to apmex.com and buy some 90% silver coins or some .999 silver rounds. After you get some silver stocked up I'd check out goldismoney.info and learn about trading precious metal stocks. I just put $1200 in silver and gold company stocks and have made 42$ already since Friday. (2 trading days)

These are the stocks I am invested in. (Keep in mind I'm a huge noob and just started myself)

GSS
SA
FGOC
AUY
IAG
SLW

 

[akovacs]

Is there a cheaper site than goldcentral.com for buying gold? As soon as I get a good job lined up I'd like to buy a lot more.

Oh, and is there a good mutual fund that is gold based? What about mutual funds for other currencies? If I have a 401K or something, I'd like to avoid anything based in the dollar for now.

 

[Stealth4]

From an article on yahoo today on the new lady president of Argentina - she's openly stating that she doesnt intend to fight inflation - makes even more sure that our government has the same intent, but wont admit it.

I find it very scary that governments are now admitting they dont give a damn about inflation

from the AP article:

"She also stressed her determination to maintain high growth rates, rejecting calls to let the economy slow down in order to slash inflation.

"Every time that has been said, Argentina ended up in recession," she said, stressing that "Chinese-style" growth, which since 2003 has been close to nine percent, has made it possible to reduce poverty in the wake of the disastrous 2002 crisis.

Experts warn that the prosperity that came about during Nestor Kirchner's government is weakened by high inflation rates. The government says inflation is at 10 percent, but a number of economists insist the figure is above 15 percent."

 

[jonahtrainer]

I'd start with silver, go to apmex.com and buy some 90% silver coins or some .999 silver rounds. After you get some silver stocked up I'd check out goldismoney.info and learn about trading precious metal stocks. I just put $1200 in silver and gold company stocks and have made 42$ already since Friday. (2 trading days)

I have bought through apmex.com and highly recommend them for physical bullion in your possession.

However, with it illegal (10 year in jail or $250,000 fine) to export/melt pennies or nickels you may want your precious metals outside of US jurisdiction. For that, I highly recommend GoldMoney.com.

 

[jonahtrainer]

Oh, and is there a good mutual fund that is gold based? What about mutual funds for other currencies? If I have a 401K or something, I'd like to avoid anything based in the dollar for now.

I heard GoldMoney.com will be expanding to 401Ks in 2008. My cousin's husband works for the custodial bank that will be handling it.

 

[Johnnybags]

Taxes go up

Dutch,

I've kept my books/checkbook in Quicken for the past 5-6 years. I can certainly see how my annual costs have gone up, particularly in the energy/gasoline and food columns. Even more specifically to heat my house in the winter (natural gas). Whilest not related to inflation (or is it?) my property taxes have gone up roughly 35% in the past 4 years.

Meanwhile, the last raise I got was 2% in 2005 Only way I've ever been able to obtain a meaningful raise is finding a new job and negotiating a base.

What I made in 2002 isn't near as good here in 2008.

because municipalities have lost buying power but need to maintain the same level of services, my taxes went up 40 percent since 2002, same level of services, just cost more deflated dollars to deliver them. It has reached the critical point. The FEDs will not officially tax you just deflate buying power which is why all costs soar. Imagine calling for a war tax in congress, no way, just print it and let costs surge. My name is not on that one.

 

[microsect]

lolol that is the funniest thing i have seen in a while. Thanks for the pic.

 

[Stealth4]

VOTE IN THIS POLL ! - spread it to other websites.

cnn money quick vote (scroll down a bit, on left)

I voted to leave rates where they are (I know they wont raise them tomorrow) I was saddened to see so many people think they should lower rates. They obviously dont understand what will happen to the dollar.

http://money.cnn.com/

 

[Gimpster]

They're more worried (right now) what will happen to their stock portfolio if they don't cut rates .5bp.

I'm not saying this isnt myopic, but how it is.

I assure you, any less than .5bp and the markets will not like it.

VOTE IN THIS POLL ! - spread it to other websites.

cnn money quick vote (scroll down a bit, on left)

I voted to leave rates where they are (I know they wont raise them tomorrow) I was saddened to see so many people think they should lower rates. They obviously dont understand what will happen to the dollar.

http://money.cnn.com/

 

[Kregener]

People are really starting to "sphincter-up".

 

[weatherbill]

Apmex.com is a good place to get gold.

fed banker last month said to expect a rate cut, so price of gold should be headed higher.

With overseas, IRAN and others choosing a basket of currencies for reserves instead of US dollars the way it used to be, look for metals to go higher.
Heard one estimate that if we had a hard recession like in the early 80s when pgold went to over $800 per oz, the equivilent today would be $2500 per oz.
You could buy alotta cheap chinese crap at walmart on that....LOL..... but I don't think cheap walmart mad ein china goods will be what people are looking for if it came to that.......they'de be crying about their politcians and I would get really mad and say shut the hell up you idiots, you voted for these clowns and didn't listen to us (if Ron Paul doesn't get in). Let's hope I can laugh at all the mainstream media fools for telling us RP didn't have a chance, but even with RP montary policy, in introducing a competing currency, silve rand gold will skyrocket in price, the US fed fiat dollar will become worthless, since the production of the american people will now become traded in real money and the other nations will be mad becasue their inflated into oblivion currencies won't be able to keep up with all their socialism....LOL......and America will once again be king of the hill.....piss on the euro even if that happens! Woo hoo...go Ron Paul!

 

[SeanEdwards]

Serious question about this... from a European, so don't shoot me please

The USD has been falling for quite a while now. For internationals, it's very obvious.
But do you guys really notice it in the USA? I mean, do prices rise like 10% in a few months to keep up with it?

I guess what I'm asking is: is the inflation tax really noticeable to the man in the street? Or do prices more or less stay the same?

Dutch

Consumer prices in the U.S. are increasing very noticeably in some sectors. Food, energy, medical care, education, all are getting more expensive quite rapidly. Other areas are not increasing so much, such as consumer electronics, cheap imported clothing and assorted household crap. Car prices have been pretty stable. Housing prices went through a recent ramp up, but are now collapsing.

 

[LeonardK]

I'd start with silver, go to apmex.com and buy some 90% silver coins or some .999 silver rounds. After you get some silver stocked up I'd check out goldismoney.info and learn about trading precious metal stocks. I just put $1200 in silver and gold company stocks and have made 42$ already since Friday. (2 trading days)

These are the stocks I am invested in. (Keep in mind I'm a huge noob and just started myself)

GSS
SA
FGOC
AUY
IAG
SLW

These are metal mining companies. If you want a fund that holds its assets in metal, try AMEX:CEF, which holds >90% of its assets in gold and silver.