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Precious Metals Buck Dollar

mforti Wrote: Oct 04, 2012 8:09 AM
Claiming that the 'price' of metals is moving upwards is misleading. Metal is worth the same as it's always been. In fact, it is the value of currencies that are plummeting. Governments are frantically printing cash, which decreases the value of that cash. In fact this is a means by which the government STEALS from everyone with savings. Let's say you have 20 thousand dollars socked away in a bank account. The actual number of dollars stays the same... it's protected against theft in a bank vault, right? HOWEVER, a few years from now when you take that money out and try to spend it, you might find that its WORTH is gone. Instead of buying a new car, it might buy you a cart full of groceries.
mforti Wrote: Oct 04, 2012 8:10 AM
The inflation cycle has begun, and we're already seeing the beginning of this disastrous phenomenon. Metals, food, fuel and other goods have seemingly doubled in price, but they haven't really... it's your CASH that is plummeting.

Those selling gold and silver as a hedge against economic collapse either don't understand the problem, or they're simply dishonest con men. If the economy implodes, I wouldn't trade you a can of stew for its weight in gold or silver. So what is the most valuable commodity? It's certainly not the metal. If I had to lay down cash for metal, it's cold steel all the way.
Kali_Fred Wrote: Oct 04, 2012 5:05 PM
Funny, during the '30s and '40s refuges often carried their net worth in diamonds (gold and silver is too heavy and too bulky). It seemed to work pretty well for them...

Precious metals moved higher even as the dollar gained ground against the euro.

Gold was up $4.11 in early trading to $1,777.02 and silver was up $0.16 to $34.67 for a silver/gold ratio steady at 51.2.  Other than a brief upward spike on Monday it’s been pretty much a dull week for gold and silver traders. 

Times like these remind me that silver and gold are unique among investments in that they don’t have a marketing department or an eager sales staff.  While there is a margin on gold and silver trades, there’s no commission for the sales staff...

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