Your thoughts on owning Gold and Silver

[scorpio]

I just wanted to get people's thoughts on owning silver and gold.
I think we all agree than MASSIVE inflation is coming to the US and much of Europe as well.

I personally have been buying silver for several years and only leaving a minimum amount of cash in the bank.
I think silver has a greater potential to go WAY up - more so than gold.
There has never been a silver grab, unlike gold. Silver has way too many industrial uses to ban owning it.
One downside is that silver is bulky. A box of 500 coins weighs around 50 lbs.

I don't mean to come across as some kind of patriotard, but I don't see any other way to protect your assets.
Real estate is gonna go waaaay down - and soon too. There is a HUGE wave of commercial real estate foreclosures coming in 2010.
I see overpriced mcmansions for sell everywhere I go.
Most comm. real estate has a 5 or 7 year note with a ballon payment due - many will come due in 2010 - The money is not there.

The stock market is nothing more than a Jewish casino.
Cash under your bed is good, until the dollar is devalued.
Where else can you go other than precious metals?

[LordLindsey]

I agree 100%!  Even IF "they" tried to confiscate people's silver "bullion," all that you would have to do is take the ingots and make mold of a hunk of metal and call it "art."  Gold is another story completely and I have never felt good about owning like I do silver.  My very, very strong suggestion is to go with silver in your possession ASAP because if it gets as bad as we all know that it will, there really isn't anything else that will keep its value.  I know that people will say that lead is more precious, but let's be honest with ourselves and say that if it gets THAT bad, ALL BETS ARE OFF ACROSS THE BOARD.  I really don't think that people realize that that is the very last thing that ANYONE wants because violence would be an absolute nightmare across the world if it ever came to that; therfore, SILVER is the best way to go.

LINDSEY

[jai_mann]

I prefer commodities. If I was going to get metal I'd go with silver hands down. I've invested in things like tools, guns, ammo, ammo, and more ammo. If you have goods you better be able to protect them and most of all yourself. Ammo can protect, help acquire food, and allow for the reciprocal use of force against goons working for the state. I would consider guns and ammo to be a higher priority than silver. One needed agree with the theory of natural selection to understand that those with out the means to protect are defenseless in this world.  Common calibers will obviously be as good as gold or silver if not better in holding value and serving multiple purposes.

Consider USA made items which have no more industrial base: only shitty quality chi com knock offs will be available in time. Therefore those items will be of higher value.

It would also behoove you to split up your commodities and put them in separate caches. Keeping all of that stuff in your home is not smart.

[abduLMaria]

I just wanted to get people's thoughts on owning silver and gold.
I think we all agree than MASSIVE inflation is coming to the US and much of Europe as well.

I personally have been buying silver for several years and only leaving a minimum amount of cash in the bank.
I think silver has a greater potential to go WAY up - more so than gold.
There has never been a silver grab, unlike gold. Silver has way too many industrial uses to ban owning it.
One downside is that silver is bulky. A box of 500 coins weighs around 50 lbs.

all you have to do is watch the devaluation of the dollar long enough to get that, "oh, SHIT !" feeling as it loses value, year after year.  though admittedly it does have some upticks - e.g. this week, Canada kept interest rates steady, the US $ up-ticked about 2%, gold & silver fell a little (price in $US that is).

i think it's a great thing to have done, e.g. if you were buying in 2003 when gold was about $350.

for people starting now, drawing the cash from their savings - i would say to buy a little - enough to establish relationships of trust with PM dealers - and to be very patient.  about 15 months ago gold & silver were where they are now, then downticked to $800 & $12 an ounce.

for people starting now, drawing the cash from their income - i would say to put some PM's  away with every paycheck.

I don't mean to come across as some kind of patriotard, but I don't see any other way to protect your assets.

well, according to that Homeland Security video John Elway made, having PM's is one of the "8 signs" of a domestic terrorist.

as far as the "gold vs. silver" debate, i prefer the Deion Sanders answer - "both".  it's hard to say which metal will prevail, if any - they both appear to be going up.  i hear some arguments about the gold/silver ratio, which is higher now than its historical average - i.e., it may turn out that silver circa 2009 is undervalued.

as far as confiscation - well, it happened once.  definitely something to think about when you decide where to keep your valuables.

there was a rumor in 2006 that BofA employees had received training on how to cooperate with DHS in the event of a gold seizure.  i.e., establishing a procedure on escorting customers with a safe deposit box.

i think generally the overall plan for the US $ is a slow devaluation.  a lot of the problems that were created by credit derivatives and the financial services industry (those Zionist bankers again) simply go away if the dollar devalues about 50%.  Chinese investors flock to the US with the FRN's they already have (Federal Reserve Notes), and start buying up real estate.  since they know the FRN's are headed for the toilet, while the Chinese Yuan is destined to appreciate, they're willing to pay higher prices than many other investors for many properties.  this puts a floor under real estate prices, e.g. $250K for an average 4 BR home in an average neighborhood (not the SF Bay Area, where prices are higher, and not Detroit, where prices are lower).  and, all of a sudden, all of those losses related to Mortgage Backed Securities are not so bad.

so, ROUGHLY, a 50% US $ devaluation solves the 2007 MBS crisis.

one other data point - paper gold.  there's about 10 times as much paper gold as physical gold; the numbers are similar for silver.  recently, 2 countries have asked for their gold back (Germany from the US, where it was stored in vaults in NYC, about 4000 tons ... and Hong Kong, from London vaults)

the problem being that - we think - some of that gold isn't there because it has been sold and re-sold.  (more games by the Zio-bankers)

it's like a game of musical chairs where there's only 10% as many real chairs as participants.  when the music stops, and holders of paper gold start demanding physical gold - as they are doing - it gets ... interesting.