See:
nolinks://nolinks.youtube.com/v/OHk3c2L6Rck
nolinks://nolinks.youtube.com/v/SpHOaW99ST4
This is how the elite get what they want. Many of these stupid people will end up asking how things got so bad. They deserve what they get, because they did it themselves. The problem is awake people are dragged down too.
Well, "awake people"
like to watch this
controversial interview
by Greg Hunter
with Bix Weir:
Bix Weir: Gold-Silver Update and Complete Wipeout of
all Debt in All Banks Coming in Next Few Months.
Here's the video:
nolinkss://nolinks.youtube.com/watch?v=QDwRJE-dXxs&feature=c4-overview&list=UUG-G8LLr38fQUNZU8K0t-EA (nolinkss://nolinks.youtube.com/watch?v=QDwRJE-dXxs&feature=c4-overview&list=UUG-G8LLr38fQUNZU8K0t-EA)
You've been warned.
Gold is an investment no better than any rock. You cant eat it. You cant grow anything from it. It has some useful properties and looks pretty, thats all. It is all PERCEIVED value, like cash.
Because the currencies are likely to crash, people are buying gold. What for??? It is a friggen metal. Big deal. It has held is value for a long time, but times are going to change. Food will always be the most valuable thing. Next is land which produces food. Its energy. Always has been, always will be.
Steve - I don't agree with your view on gold at all. Gold is a store of value, convertible into cash & so you're then free to buy whatever suits your needs.
Gold ingots are refined & stamped to 99.99% purity. Gold bullion dealers are the usual place to buy & sell gold. The prices are pegged to the daily traded international price and based on the US dollar. Dealer fees are only a small % of the total value.
The recent fall in the Australian dollar has seen any gold held when the OZ $ was above the USD eg $1.03 meant 1 oz cost about 97c x price USD in the AUD to buy.
Now that the AUD has fallen to around 92c that gold you've had for 6 months + is now worth around $1.08 AUD x US price per ounce.
The difference is worth about 16c. You won't get that value from bank interest.
I bought my house in 1986 Metro Sydney with the help of rewards of investing in gold bullion & gold mining stocks. in 1983 I bought $25,000 worth of gold investments.
In 1986 sold the lot for $42,000 - $25,000 = $17,000 profit = 68% gainin 3 years. Again way way ahead of bank interest. Together with cash held I bought a house for $66,000. Today that house would sell for for 5 - 6 times the original purchase price.
When your funds are small (starting out in life) the hardest part is getting the "critical mass" of funds to secure property. Strategic investments are a viable path to travel to achieve progress without signing your life away to the banks with a never ending mortgage.
I agree that aquiring fertile land & growing food is a worthwhile pathway.
Further to golds value, in Jan 2007 gold was around $600 per oz. In July 2011 it hit $1,850 + per oz. a gain of over 300%. Since then it has fallen to below $1,300.
In recent days it has gone back up about $50. As with any investment you have to read the market & not ride the highs back down.
Since the GFC (grt.fin.crisis) 2008 there has been some great opportunities to make money. Australian bank shares dropped by over 1/2 in 4 months. 7 months later (Sept 2009) they were back up to near their previous highs. 240% gain in 7 months on Australias biggest & safest bank = Commonwealth.
When the SH the fan on USA debt within the next few years money won't be worth much. Gold/silver & other precious metals will rocket up in value as the herd stampedes into safe stores of value. $10,000 + per oz would not suprise.
Gold is worth more than paper, but not by much. Compare:
Paper money
- high perceived value and accepted value
- based on debt, not actual value
Gold:
- high perceived and accepted value
- has useful physical properties, which in reality arent all that indispensable
In the event of a global financial collapse of epic proportions, nobody gives a crap about paper or metal. They care about food.
I recognize that gold has held its value previously. But its not the same this time.
People that understand what is coming are buying up gold, which is raising its price. They think that their wealth will be protected. Gold is over-priced and what you own is not what you think. Its value will always be or stable than paper, but remember that perception is why gold has its value. And perception is a very unstable thing, especially in a crumbling economy. With the over-priced gold, when perception changes and people realize what they really need, the price crashes and your wealth is gone. This wont happen with land because even if it doesnt cost much, it still retails its useful properties such as growing food.
Thats why land will likely always be the best investment. But even if you buy freehold land, thats not really ownership. for example in Australia freehold land you own is actually owned by the Queen. You essentially pay for the right to use it as long as you hold the title. The more you look into everything, you never really own anything and I dont mean just from a legal perspective.
Anyway the main point is buying gold wont protect anyone from what is about to happen.
gold - In a lot of mines it costs $1,000 an oz to produce, so it ain't over valued on that score alone. As you think it is over-priced what do you think its price value should be ?
As to gold itself ask the 2 billion + Chinese & Indian people why they value buying it ? China this year is set to pass India as the worlds biggest gold buyer. The estimate, based on current sales, is given at 1,000 tonnes of the yellow metal.
That's the entire current combined production of all the worlds gold mines. In ground global gold reserves are declining. As demand exceeds supply prices can only increase over time.
Gold & silver coins have been used as money historically back 2,000 + years. Printed money is only a relative new kid on the block.
Your views on gold look somewhat jaundiced. Perhaps you should do more research & state true facts rather than make unproven statements ?
Regarding property it too can suffer big time when things turn bad. Look at parts of the good ol' USA where you can buy houses for next to nothing. Detroit is a prime example & is now officially bankrupt because over 700,000 residents have left that city.
Land relative to an average persons income is expensive. Say a parcel of land costs $200,000 & if you can't get a loan even if you have $10,000 what then ?
You can't buy 1/20th of that land in most cases. However you can buy $10Ks worth of gold.
Trading anything on the stock market or real estate involves timing in the market place. It's like riding a roller coaster. Wise investors buy in the dips & sell near the top.
It's unwise to stay on the roller coaster & ride things out as the years pass. 80% of superannuation (the lazy herd) members do this by letting fund managers squander their money. The easy answer is what 20% of people do = self managed. Even putting your money in the bank & earn modest interest always shows gains & no losing years. Just like Kenny Rogers sings in his song THE GAMBLER "you gotta know when to hold 'em & know when to fold 'em"
So many super statements over the years that give negative returns = losses. 1 losing year takes 2 winning years to be 1 year up but already 3 years has passed. This is an emerging crisis that will only hit home in 20 - 30 years time. By then it will be way too late & the Govt. won't have the money to help low funded new retirees. The result will be a new underclass of people living in poverty.
If this epic global financial collapse ever eventuates stand clear as the herd stampedes into safe havens to protect the value of their money.
They did this in early 1980 where gold shot up from around $250oz to $850oz in just a few days. That's 300% + Steve.
This happened due to a combination of high inflation, high oil prices, Russia into Afghanistan, the Iranian revolution destabilising the Middle East & the supply of oil to the west. It's all there on line as factual history not fiction made up by my own imagination.
The high gold price only lasted a few weeks then the price came back down to trade in the $300 - $400 range for many years.
As I've previously said gold hit $1,850 + oz in July 2011 as the 2008 GFC after shocks unfolded. Since then it has fallen & is now trading at around $1,340oz.
The prices are manipulated off the back of Wall Street paper trading where 1 oz of physical has 100 certificates of ownership for that same oz.
Derivatives total some $600 Trillion dollars. US Government debt exceeds $17 Trillion. Have a look on line what a trillion actually looks like = 1 thousand pallets @ 1 billion dollars per pallet. This fills one large warehouse. All this debt & the continual deferrment.
As to your last sentence that gold won't protect asset values in a financial crisis of any size flies in the face of history. Some examples, WW1, the 1929 Great Depression,
WW2, The Cuban missile crisis 1963, Kennedys assassination, Nixon taking USA off the gold standard 1971- NOTE US dollar FALLS & gold price RISES, 1980 $ crisis fears as already mentioned, various recessions & boom bust cycles for over 28 years to 2008 & the GFC & 5 years later the unsustainable debt that continues to grow.
The MO of World governments is continued deferrment of debt in the hope they can trade their way out of it ? One suggested solution that's been done by some countries in the past is a significant devaluation of the USD GBP & Euro. In the US over 100 million people are on food stamps. 10 million plus are living in tents.
A collapse would trigger mass civil unrest as food shortages/anarchy/rape/murder create a dog eat dog world. There's some people in the USA that have built crisis shelters next to their house with a heavy steel door to keep desperates out, plenty of guns & ammo to deal with them. Food & water to last a year, toilets/showers & all that's needed.
All this just triggered my memory, in any recession/financial crisis there's one industry that booms & that's the gambling industry. Look how many US states since 2008 that didn't allow casinos, now have them opening "left right & centre" in a desperate bid to increase dwindling tax revenue. Las Vegas suffered due to the GFC as it mainly relies on tourists & home country visitors. My view is that most of these people would just gamble closer to home.