Buy gold

[pnete]

If you don't know why then it won't matter anyway.

 

[JCSuperstar]

Oh come on, tell us why! If I'm not going to get my apocalypse news from The Boneyard, where am I going to get it?

 

[Palatine]

If the system collapses to the point you need gold - you don't need gold- you need bullets.

 

[Samoo]

Or gold bullets to kill all the zombies that are immune to silver ones.

 

[alfonse]

A gun is not ideal for a zombie apocalypse. Bullets are not an infinite resource. Something with retrievable ammunition like a crossbow or a nice melee weapon like a sword would be preferred if you plan to survive in the longterm

 

[Cheddie]

OK, this is one of the oddest threads in awhile.

 

[HooperScooper]

OK, this is one of the oddest threads in awhile.

That's because pnete is one of the oddest posters on this board.

 

[UConnDad]

Buy beer.

 

[Strummer]

Problem with gold is that the govt. can seize it, and/or make it illegal. Ownership of gold bullion (coins and bars) was illegal in the U.S. from FDR through Nixon. The reason was that they were protecting the dollar. The dollar has lost 37% of its value since 2000. That's a really big number. Dollar devaluation appears to be hastening. Russia/China and others are getting out of the dollar and doing their energy deals in euros and Chinese renminbi. The U.S. Central Bank (Fed) is now printing money at a furious pace, with no end in site. Commercial bank outstanding debt to GDP ratio is now being slammed by the Fed's purchase of bonds.

And, as if the collapse of the dollar wasn't bad enough, oil prices are showing signs of spiking because of the unrest in Iraq. Oil prices have increased linearly from 2000 from less than 40/B WTI to 104/B WTI. This, while U.S. use has gone down and Texas is producing 3BBD more from shale (tight) oil, and total U.S. production on an upswing. Further, world production has been flat for 10 years, and there is no indication that production has anywhere to go but down.

Jist - dollar will go to zero, the decline appears to be accelerating, and energy prices are set to spike. That is a two handed bitch slap.

Buying metals and commodities in general will insulate a buyer, to some degree, from dollar devaluation. As I noted, however, it is myopic to depend on the metals, and particularly gold, because by executive order the president, like FDR, can simply tell Americans to swap their bullion for dollars, at whatever exchange rate the Prez sets.

In any case, it's all FUBAR, I don't care as much as I did, and I think we make a run at 5 next year, and I'll have my ass parked in the same Pub Seat that I sat in for all NCAA games this year,

BRING ON THE DOOMER MOJO B1TICHES!!

 

[8893]

 

[RayRay19]

Has Daniel Hamilton signed his LOI yet?

 

[intlzncster]

A gun is not ideal for a zombie apocalypse. Bullets are not an infinite resource. Something with retrievable ammunition like a crossbow or a nice melee weapon like a sword would be preferred if you plan to survive in the longterm

I've heard a samurai sword works rather well.

 

[intlzncster]

Problem with gold is that the govt. can seize it, and/or make it illegal. Ownership of gold bullion (coins and bars) was illegal in the U.S. from FDR through Nixon. The reason was that they were protecting the dollar. The dollar has lost 37% of its value since 2000. That's a really big number. Dollar devaluation appears to be hastening. Russia/China and others are getting out of the dollar and doing their energy deals in euros and Chinese renminbi. The U.S. Central Bank (Fed) is now printing money at a furious pace, with no end in site. Commercial bank outstanding debt to GDP ratio is now being slammed by the Fed's purchase of bonds.

To respond seriously (though I prefer the comedy value of the thread), no one would bother 'seizing' gold anymore. Gold was seized because the dollar was backed by gold to a degree at that time. FDR wanted to fix the price, thereby controlling (devaluing) the dollar directly, and importantly, discouraging bank runs and hoarding (of gold/money)). The govt doesn't need gold to easily devalue anymore. Gold has no direct relationship to the dollar these days, outside of a looser trading relationship. No point in seizing it, outside of wasting time and resources.

 

[60'sfan]

To respond seriously (though I prefer the comedy value of the thread), no one would bother 'seizing' gold anymore. Gold was seized because the dollar was backed by gold to a degree at that time. FDR wanted to fix the price, thereby controlling (devaluing) the dollar directly, and importantly, discouraging bank runs and hoarding (of gold/money)). The govt doesn't need gold to easily devalue anymore. Gold has no direct relationship to the dollar these days, outside of a looser trading relationship. No point in seizing it, outside of wasting time and resources.

You obviously have not watched the James Bond movie.

 

[elduderino]

If you don't know why then it won't matter anyway.

So youre either a day trader, in which case you know 1200 (not 1270) is an extremely important technical level, or you watch alot of Glenn Beck, in which case all logical analysis is irrelevant.

 

[Chin Diesel]

 

[SixRings]

I don't always buy gold. But when I do, I buy it for my set of hairy nuts that peeks at me between the A and the R.

 

[junglehusky]

 

[ZenConn]

The dollar has lost 37% of its value since 2000.

Selvie's fault.

oil prices are showing signs of spiking

Dyson's fault.

 

[Strummer]

Gold was seized because the dollar was backed by gold to a degree at that time.

Incorrect. The dollar was 100% backed by gold at that time, not "to a degree." Any person could walk in with dollars and walk out with gold, at a fixed rate.

FDR wanted to fix the price, thereby controlling (devaluing) the dollar directly,

Not sure what you're saying here, but I think we agree. FDR wanted the ability to inflate the currency without having the American people, recognizing the devaluation of the dollar, exchange their devaluing dollars for gold. Simple as that. FDR wanted the ability to "goose" the economy by having the Fed expand the money supply without dealing with the obvious consequence of money supply expansion - citizens converting the dollars to gold, thereby depleting the U.S. gold supply.

FDR wanted to . . . importantly, discouraging bank runs and hoarding (of gold/money)).

Incorrect. This had nothing to do with bank runs. It had nothing to do with "hoarding," which is the word that government stooges use when they want to take your stuff. It had to do with one thing, and one thing only: FDR wanted to expand the money supply, which he knew would devalue the dollar, which he knew would cause citizens to trade dollars for gold, which he knew would cause U.S. gold supplies to get used up. That was the whole point of the dollar/gold standard. The point was to prevent politicians and bureaucrats from expanding the money supply and/or printing money.

Gold has no direct relationship to the dollar these days,

Agreed, other than to act as the anti-dollar, by which I mean to demonstrate through its rise in value the inverse loss of value in the dollar.

No point in seizing it, outside of wasting time and resources.

The motivation to seize gold would not be to prevent the dollar crash, which is now virtually unavoidable. The point would be to seize the asset for use by the government. The demand for dollars is shrinking around the world. The demand for gold is rising. If and when the politicians want more money, and printing dollars won't work, they will simply take assets. Gold is an obvious target.

In Greece, they simply took a % of every bank account for govt. use. In the EU, they are moving toward savings accounts that pay negative interest. In other countries, "one time" taxes are imposed on assets.

Point is this. Precious metals will be an easy target for confiscation by the govt. They can set whatever dollar to gold ratio they want, and then force you to turn in your gold. They can then use the gold as currency with countries that don't want any more dollar bill toilet paper. Conclusion - owning gold will not save you from a crashing dollar - it will simply make you a target of asset confiscation.

And before you say, "the govt. would never take your property," I distinctly remember 5 years ago hearing all the experts drone on about how the "govt. will never print dollars and devalue the currency." In fact, they're doing just that, and a lot of it. They'll do whatever they want, and you won't stop them.

 

[BigErnMcCracken]

So youre either a day trader, in which case you know 1200 (not 1270) is an extremely important technical level, or you watch alot of Glenn Beck, in which case all logical analysis is extraneous info.

In my extended social circle I know this obnoxious jack a s s who works for a firm that sells gold over the phone to mostly retirees and talk radio conspiracy theorists. He probably clears around $700k a year from these poor people and relentlessly mocks them while he's doing it. Just a complete and total racket.

 

[CL82]

Or gold bullets to kill all the zombies that are immune to silver ones.

Ah yes, the upscale zombies:

 

[elduderino]

Incorrect. The dollar was 100% backed by gold at that time, not "to a degree." Any person could walk in with dollars and walk out with gold, at a fixed rate.


Not sure what you're saying here, but I think we agree. FDR wanted the ability to inflate the currency without having the American people, recognizing the devaluation of the dollar, exchange their devaluing dollars for gold. Simple as that. FDR wanted the ability to "goose" the economy by having the Fed expand the money supply without dealing with the obvious consequence of money supply expansion - citizens converting the dollars to gold, thereby depleting the U.S. gold supply.


Incorrect. This had nothing to do with bank runs. It had nothing to do with "hoarding," which is the word that government stooges use when they want to take your stuff. It had to do with one thing, and one thing only: FDR wanted to expand the money supply, which he knew would devalue the dollar, which he knew would cause citizens to trade dollars for gold, which he knew would cause U.S. gold supplies to get used up. That was the whole point of the dollar/gold standard. The point was to prevent politicians and bureaucrats from expanding the money supply and/or printing money.

Agreed, other than to act as the anti-dollar, by which I mean to demonstrate through its rise in value the inverse loss of value in the dollar.

The motivation to seize gold would not be to prevent the dollar crash, which is now virtually unavoidable. The point would be to seize the asset for use by the government. The demand for dollars is shrinking around the world. The demand for gold is rising. If and when the politicians want more money, and printing dollars won't work, they will simply take assets. Gold is an obvious target.

In Greece, they simply took a % of every bank account for govt. use. In the EU, they are moving toward savings accounts that pay negative interest. In other countries, "one time" taxes are imposed on assets.

Point is this. Precious metals will be an easy target for confiscation by the govt. They can set whatever dollar to gold ratio they want, and then force you to turn in your gold. They can then use the gold as currency with countries that don't want any more dollar bill toilet paper. Conclusion - owning gold will not save you from a crashing dollar - it will simply make you a target of asset confiscation.

And before you say, "the govt. would never take your property," I distinctly remember 5 years ago hearing all the experts drone on about how the "govt. will never print dollars and devalue the currency." In fact, they're doing just that, and a lot of it. They'll do whatever they want, and you won't stop them.

It would appear the 'Yard has found your hot-button. You make some good points, but some of your stuff is off too. Keep reading, there's a reason why 3 economists rarely agree on anything.

 

[UCHuskies08]

The New World Order will just take your gold anyway bro

 

[SubbaBub]

During the end times, how does one actually make change for a $1200 maple leaf? I'd assume the answer to, "how much?" Is "how much you got?"