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Author Topic: Once I'm in NH how can I put my life savings in gold?  (Read 16665 times)

antistate1190

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Once I'm in NH how can I put my life savings in gold?
« on: November 10, 2010, 09:21:45 pm »

I am sick of the FED inflating the dollar to the status of worthlessness. I want to put my savings in gold to be fully secure. How would i do that?
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eh?

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #1 on: November 10, 2010, 10:41:02 pm »

Short answer:  buy gold.  You do not need to wait until you are in NH.  There are literally dozens of ways to do this.  Coins are good.  Check out places like www.kitco.com.  There are lots of others.

Long(er) answer:  BE VERY CAREFUL AND DO YOUR OWN DUE DILIGENCE.

Lots of people will sell you various flavors of snake oil; some don't even charge (much) extra for the gold colored bottle it comes in.

Among the many things to keep in mind:
       
  • the "price" of gold (or almost anything)can also go down, perhaps substantially.  Predictions of future price vary from a few hundred to several tens of thousands of dollars per ounce or more.  Latest spot is in the area of $1400.   One must make up one's own mind.
  • other pm's (such as silver) may be much a better choice than, or in combination with, gold.  For example, silver has not been as often subject to confiscation as has gold and is easier to get in trade useful units.  What good is it if it is never to be exchanged for anything else?
  • it's easier to buy in smaller dollar value quantities

Anyone contemplating this sort of thing must determine for themselves what factors are important to them and which of the many available choices is/are most suitable for them.

I personally have no doubt, however, that in the near term, fiat currencies will become worthless, but <insert B. D. Ross's disclaimer here!>.

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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #2 on: November 11, 2010, 12:48:20 am »

You mean devaluing the dollar?
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rossby

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #3 on: November 11, 2010, 06:15:14 am »

I personally have no doubt, however, that in the near term, fiat currencies will become worthless, but <insert B. D. Ross's disclaimer here!>.

It's a good one, ain't it?
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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #4 on: November 11, 2010, 10:08:50 am »

You mean devaluing the dollar?

Price, always, is a function of supply and demand.

It's a good one, ain't it?

It sure am.
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #5 on: November 11, 2010, 11:22:58 am »

You 'devalue' currency... you don't inflate it.
And fiat (decreed) currencies will always seek a relative value to other goods.
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anon37268573

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #6 on: November 11, 2010, 12:36:57 pm »

I wouldn't touch Gold with a 10' poll right now.  I wouldn't touch Silver with a 100' poll.  There's a precious metals bubble.

My money has been in foreign currency denominated bonds and (mostly tech) megacaps.  That's probably where it will stay until 2012/2013.

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #7 on: November 11, 2010, 01:29:29 pm »

You 'devalue' currency... you don't inflate it.

Inflating the supply of it, other things remaining unchanged, will always devalue it, with or without a (positive or negative) lag.

Quote
And fiat (decreed) currencies will always seek a relative value to other goods.

We have found The One Universal Truth.  Let us Go Forth And Enlighten The Infidel.  (You go first.)   Ommmmm.   :)

I wouldn't touch Gold with a 10' poll right now.  I wouldn't touch Silver with a 100' poll.  There's a precious metals bubble.

My money has been in foreign currency denominated bonds and (mostly tech) megacaps.  That's probably where it will stay until 2012/2013.

Isn't it wonderful that all of us always agree so completely on everything?

I don't say that you are wrong but, if you are, your return, together with the return of others now holding similar opinions, to the market as a buyer will help push up the price for the rest of us.  Wheee!

Two things about gold (and to a lesser extent silver) are that it is not an investment and the price of it doesn't really change.

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Denis Goddard

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #8 on: November 11, 2010, 02:34:16 pm »

I think maybe you should put all your chips in doubly-leveraged silver.



I'm kidding, people, I kid. Sheesh.

But... that's a damn pretty chart, ain't it?
Silver, baby. SILVER.

rossby

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #9 on: November 11, 2010, 03:31:07 pm »

I wouldn't touch Gold with a 10' poll right now.  I wouldn't touch Silver with a 100' poll.  There's a precious metals bubble.

This. Think I'll go put my money in Dutch tulip bulbs...

Two things about gold (and to a lesser extent silver) are that it is not an investment and the price of it doesn't really change.

It certainly does. Price is not intrinsic. Price is a reflection of relative value. Thus, price denominated in what? Dollars--oh, yes, the price will change...
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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #10 on: November 11, 2010, 03:52:23 pm »

It certainly does. Price is not intrinsic. Price is a reflection of relative value. Thus, price denominated in what? Dollars--oh, yes, the price will change...

That's really a change in the price of the dollar, not in the price of gold.
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To advocate compulsory taxation (there is no other kind) is to advocate aggressive violence.
Rare indeed seem those who would rather the lash were banished utterly from human interaction save in defense of self and property
than the haft thereof find on convenient occasion its lawful place nestled comfortably in their own grasp.

rossby

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #11 on: November 11, 2010, 04:45:48 pm »

It certainly does. Price is not intrinsic. Price is a reflection of relative value. Thus, price denominated in what? Dollars--oh, yes, the price will change...

That's really a change in the price of the dollar, not in the price of gold.

See above.

Yes, the value (purchasing power) of the dollar is falling. But this changes (increases) the price of gold.
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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #12 on: November 11, 2010, 05:19:51 pm »

It certainly does. Price is not intrinsic. Price is a reflection of relative value. Thus, price denominated in what? Dollars--oh, yes, the price will change...

That's really a change in the [relative value] of the dollar, not in the [relative value] of gold.

See above.

Thankyou, I did.  Please see the related substitutions above.

Quote
Yes, the value (purchasing power) of the dollar is falling. But this changes (increases) the price of gold.

I look at it , by analogy (all of which are, of course, flawed and imperfect), in this way:

Imagine that the most important person in the world to you is in the middle of the ocean, treading water, with the surface of the water just one nanometer below their nostrils.

In a desperate attempt to save them and at great and costly sacrifice to yourself, you throw them your very best antique heirloom concrete life preserver.  You know, the one that has been passed down in your family (always through the male line) for at least six generations, starting waaaay back in antiquity in the aulde country.

Being a very strong strong swimmer, your miaso only sinks two nanometers while attempting to support the immense weight of your helpful intervention.

Their level has gone down measurably, and that may be very important to them and perhaps even to you, but the level of the ocean has not changed measurably and there is no related significant or noticeable effect on any of the shorelines or other geographical features around the world.

In the same way, measured broadly, and in relation to many things not just the dollar (or any fiat), and over time, the price [relative value] of gold has not changed significantly but the price [relative value] of the dollar has, or soon will have, sunk to oblivion (to be followed in short order by every other unbacked fiat).

Put another way, an ounce of gold will today buy pretty much what it always has.  The dollar will not.

 
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To advocate compulsory taxation (there is no other kind) is to advocate aggressive violence.
Rare indeed seem those who would rather the lash were banished utterly from human interaction save in defense of self and property
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Denis Goddard

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #13 on: November 11, 2010, 05:35:34 pm »

My money has been in foreign currency denominated bonds and (mostly tech) megacaps.  That's probably where it will stay until 2012/2013.
If I had the stomach for it I'd do the same thing. But I'm too afraid of SHTF happening in the next 6 months, ie, a year or two ahead of schedule. What with the Chinese and the rest of the G20 on the warpath...
http://freestateblogs.net/fed_attacks_china
http://freestateblogs.net/attention_america

Metals were the first things I got.
I'm now selling my tech megacaps on the highs, and buying foreign stocks.

rossby

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #14 on: November 11, 2010, 06:13:10 pm »

It certainly does. Price is not intrinsic. Price is a reflection of relative value. Thus, price denominated in what? Dollars--oh, yes, the price will change...

That's really a change in the [relative value] of the dollar, not in the [relative value] of gold.

See above.

Thankyou, I did.  Please see the related substitutions above.

That... doesn't... nevermind :P ;)

Imagine that the most important person in the world to you is in the middle of the ocean, treading water, with the surface of the water just one nanometer below their nostrils.

In a desperate attempt to save them and at great and costly sacrifice to yourself, you throw them your very best antique heirloom concrete life preserver.  You know, the one that has been passed down in your family (always through the male line) for at least six generations, starting waaaay back in antiquity in the aulde country.

Being a very strong strong swimmer, your miaso only sinks two nanometers while attempting to support the immense weight of your helpful intervention.

Their level has gone down measurably, and that may be very important to them and perhaps even to you, but the level of the ocean has not changed measurably and there is no related significant or noticeable effect on any of the shorelines or other geographical features around the world.

In the same way, measured broadly, and in relation to many things not just the dollar (or any fiat), and over time, the price [relative value] of gold has not changed significantly but the price [relative value] of the dollar has, or soon will have, sunk to oblivion (to be followed in short order by every other unbacked fiat).

Not sure what you're saying in the slightest.

Put another way, an ounce of gold will today buy pretty much what it always has.  The dollar will not.

Just ain't so. Again, the value of gold is not intrinsic. Its value fluctuates--just like the value of everything else. Prices adjust accordingly.
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