Precious Metals - Is This The Time To Buy?
With all of the commotion in the Middle East, oil is rising to drastic levels again. This in having another major catastrophic impact on world economies. They have even begun talks on QE3! So, with all of this in mind, how do you feel about the state of the economy and precious metals?
-True Money!
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Replies to This Discussion
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Permalink Reply by Buffalo on -
The only thing I see that will prevent QE3 would be for core inflation to rise drastically. I don't have the luxury of excluding food and fuel costs, or using other adjustments to the inflation stats, but the Fed does and they have made it clear they believe core inflation is too low. The Fed's mandates are unemployment and inflation. Employment will be a long slow recovery, which only leaves inflation. As far as the economy and geopolitical issues, I think there are still many risks and that makes it a good idea to hold at least some precious metals. Those in authority who say some particular economic or political problems "can't happen" or get too convinced they can predict the future with absolute precision worry me, and PM's can help with some (not all) of that risk.
Somewhat related, the Fed's balance sheet is now right at $2.5 trillion and still growing. What impact will it have on the economy when the Fed does have to start unwinding that because inflation gets too high? Commodity prices and some other costs have increased by large amounts, yet we are told consumer price inflation is too low, which would seem to indicate companies are increasingly eating the cost increases at the expense of profit. It just doesn't seem to me to be a healthy situation for businesses or growth long term.
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Permalink Reply by Robert Walsh on -
IT is always the time to buy more metals. They will always be worth more in the future. My big problem is why I can not use it in commerce. But that ok buy as much as you can and only sell it when you need the no value paper. It won't be long until currencies do not buy anything. $4.00 is here in the states, bread,wheat,corn and food in general. What would you rather have in your pocket/I only keep my id in my wallet. QE3 is a done deal which will crush the $ further.
Silver/Gold
Bob Walsh
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Permalink Reply by abe pickens on -
This so-called liberal administration has engaged in policies have that have been disastrous for the middle and lower economic classes. With their manufactured inflation statistics they have denied the poorest of the poor any increase for the two years of their administration. They cut medicare payments so again these poor people must make up the difference. Supplemental health insurance premiums have gone up dramatically because of the health care extension to the indigent illegals in this country who are allowed to continuously invade us. The president bows down like a peasant to the Sheiks of Saudi Arabia and the poor in this country get a sixty cents increase in gasoline. In order to survive the poor require low food prices but under this administration food prices have skyrocketed. He ends the war in Iraq so he can have more of our military to be killed in Afghanistan. So the "protector of the poor" gives billions of our dollars to big business and Wall Street but denies a few cents in cost of living adjustment to social security recipients. With a government like we have, who would want to hold onto Bernanke's worthless paper? I have removed more than $500,000 from U.S. Securities because I consider anything which can be manipulated by the likes of Barnanke and the wall street criminal Geithner to be worthless. Yes I have bought gold and silver but not Platinum, which appears to be highly manipulative.
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Permalink Reply by True Money on -
I think it is time for the real people in this country to take a stand. The consequences will be disasterous if we allow this dictatorship by the small population of the "Powers that Be" continue. The United States of America has become defunct! The vast majority of the decisions in this country are driven by those with the funding and finances to manipulate the voting system, therefore our government.
The pharmaceutical industry in this country is a complete sham! If you want to see one of the major crooks at play, just look at the pharmaceutical industry. If you want a "miracle drug", these pharmaceutical companies claim they can ease your pain! Come on! My parents' doctor has them on so many drugs that it is essentially a meal. Just last year, my parents and their insurance paid out over $30,000 for these medicines they are prescribed by this doctor. What is more shameful is that these doctors get a percentage for prescribing these drugs from the pharmaceutical companies. Currently, my dad really only requires one of these drugs. It has had significant results, but is the least expensive of all of these medications he takes. However, it was prescribed by another doctor over 20 years ago. His current doctor continuously wants to change his prescription to a more-expensive drug that would not solve the problem that this current drug does. This is how these large pharmaceutical companies control the industry and destroy our health care system through unnecessary prescriptions of over-priced drugs.
I guess if I want to go onto the television show "The Bachelor" as the Bachelor or on the "Bachelorette" as one of the bachelors, I need to go into Pharmaceutical Sales as almost half of these people are into pharmaceutical sales! Hahaha! Unfortunately, this is no laughing matter! As more people see the truth, lose their jobs and insurance as the economy crumbles much worse than 3 years ago, this will be an area that will be almost destroyed due to people having no jobs and insurance to pay for such unnecessary medications.
This is just the plain and simple TRUTH! Remember, the truth is out there! We must simply put the pieces together to see the big picture!
-True Money!
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Permalink Reply by Robert Walsh on
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There is also a big problem in this country with people who just want a free ride. They are the 1 that gives the goverment the power theyneed. The gov. likes nothing more than to give the people they want money,free services,etc,etc,etc. These are the people who will never stand up. It is much easier to lye down and take what the gov. gives. I do not have the answers.
I did 20 in the navy and I do lov this country but current gov. has ruid it. I have been thinking about moving out of country . Costa rica,Bileize etc. I can monitor things from there.
bob walsh
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Permalink Reply by Bruce Wiseley on -
It's human nature for anyone who getting something for free, to want more as time goes by. This class of people, which I've named, "The Mooch-a-Meals", will never become a productive member of our society, because THEY DON"T HAVE TO!!! If all the people who are complaining about the current administration would have gotten up off their butts and voted, we wouldn't where we are now. The other side worked these people like a fine piano; bussing voters to the polls; using Facebook, Twitter, and cell phones, ect... They worked the system, and won! The average middle class, white person, thinking that there was NO WAY a person of color would ever get elected, stayed home, and now we a suffering because of their stupidity. Get over it, get out and vote, and change the idiots out of a job. But stay in this Country, and don't run away like the morons in Wisconsin. What a joke!
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Permalink Reply by Gary on -
I am a middle class white guy who drove myself to the polls and voted for Obama and probably will again!! And yes, i think its still a good time to buy silver! Gold as well, but way out of my reach!!
I have no complaints with the current administration, these are some very tough times everywhere and it wouldnt matter who was in office...I am glad its not me!!!
If my choices are Sarah Palin and a "person of color".....i will choose the "person of color"........Its good to see racism hasnt lost its place here on The Coin Network!!!
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Permalink Reply by abe pickens on
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Does one still have time to look under every rock for "racism"?
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Permalink Reply by Indentured Servant on -
The fact that they do means that things have not begun to get bad enough yet. When you have to forget about racism and other "ism's" to focus on filling your belly with food, things will have gotten bad enough for real and lasting change to get a foothold.
I could be wrong.
Bill
abe pickens said:Does one still have time to look under every rock for "racism"?
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Permalink Reply by Buffalo on
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All too often hard times have resulted in blaming the people who are "not like us" in one way or another- race, religion, politics, you name it. Scapegoatism, if that is a word. Unfortunately, it seems to me at least that has been more typical than problems bringing people together over the years, at least until things get so bad there is no alternative but to work together and find real solutions. We could see that play out again, in fact I believe we will when our current habits of borrowing and spending money we don't have, and creating trillions of dollars out of thin air catch up with us. I believe it is a matter of time before the U.S. begins facing credit downgrades, higher borrowing costs, and a global loss of confidence in the U.S. economy and the dollar. Without huge changes that will require all of us to put aside our differences and work together, I see no credible reason to believe we will solve these problems. If we don't, the end result could be much worse than anything we have experienced before, and all these reasons we find to divide ourselves into the "us" and "them" might seem pretty insignificant.
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Permalink Reply by True Money on
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Let's just face the facts. No longer can you go to the gas pump and pay 12 cents for a gallon of gas like you could many years ago when our money was worth something. As oil continues to get higher, the stresses endured will cause global economic meltdown. Many times on here I have said that inflation (QE) is not the answer. It helps in the short run but only prolongs the event to a much worse disaster in the future. It seems the government's only answer now is to continue printing money. No! Sorry! If you want to get a hold on finances, take the proper steps to get there. These are some of my suggestions:
1. Population - Get a handle on population. As long as the population continues to grow, naturally it will require more money to go around - right? Wrong! We have to implement standards like the Chinese have done for decades now. Limit all individuals to one child. Once the one child is born, you receive no tax breaks for dependents. If you have another child, a tax of 90% will be placed on these individuals and these people would be required to have surgery to prevent reproduction at their own expense! Anyone who is or has ever been on a welfare program would be prohibited from having any children at all. They would be required to have the same surgery to prevent reproduction. If any of these people have children, these children would be sent to foster families until they find adoptive parents. In addition, each of these individuals on welfare would be placed into work programs to earn their welfare benefits. These work programs would include janitarial work, roadside and road work to repair and improve our infrastructure under educated and expert supervision, etc..
2. All elected government positions pay minimum wage with all benefits paid by this elected official through his or her normal full-time job - these positions are really no more than extracurricular activities anyway!
3. Keep our money inside the country! I work with people from all over the world. Most of these people ship money out of the United States to their families in countries like Africa enabling them to live like royalty! All international trading should use a system in which all funds are converted to each respective country's monetary system. There should be a crackdown on all illegal aliens and enforce a large 60% or higher tax for all aliens within the country legally. If anyone tries to ship or take the U.S. Dollar outside of the country, it should be confiscated and these individuals should be prosecuted.
4. Eliminate this stupid Obamacare!
5. Return to a true monetary standard - once the National Debt is paid in full and the country is out of debt, the nation should create an entirely new system of money based on a solid standard (such as gold and silver) that will ensure that inflation will not destroy us again. Only there would be no such thing as welfare, government assistance programs, and absolutely no credit system that would allow us to spend beyond our means. If someone has $999.99 in their bank account, they could not purchase something that costs $1000.00!
This is just a small portion of what can be done to improve this country's economic position. However, anyone who is willing to do what is right would simply find the same fate as J.F.K.. It is a shame and is also much of the truth that we are faced with. If no one steps up to the challenge, we have no future!
-True Money!
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Permalink Reply by Bruce Wiseley on
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This isn't a "racism thing"n but a comment of the stupidity of the people in power at this time. I find it interesting that the first bandwagon comment always trends towards racism, when anyone speaks about Obama. That arguement is old, tired, and inaccurate. And what does Sarah Palin have to do with the conversation? And good for you exercising your right to vote. How's that Hope and Change working out for everyone? It's really ok to admit that the election of that man is and will always be a mistake, similar to Jimmy Carter. He ran a slick, smart election, and you have to give him credit for that, but the boy has never run anything except his mouth. Never had a real job; did a payroll; hides most of his personal history from everyone. So now we suffer for 2 more years, and hopefully make him unemployed, and attempt to rebuild our Countryafter he and his union croonies are gone. And the only ISM I don't like is ...
Gary said:I am a middle class white guy who drove myself to the polls and voted for Obama and probably will again!! And yes, i think its still a good time to buy silver! Gold as well, but way out of my reach!!
I have no complaints with the current administration, these are some very tough times everywhere and it wouldnt matter who was in office...I am glad its not me!!!
If my choices are Sarah Palin and a "person of color".....i will choose the "person of color"........Its good to see racism hasnt lost its place here on The Coin Network!!!
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