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Thread: Hi Ho "SILVER"

  1. #651
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    Im not saying its absolutely going to happen,but I am saying its alot more likely at this time than some of you guys think.I find alot of people make the mistake of assuming that if it were to happen,then it would automatically be the most extreme case[as in the gov. falling over too]I dont think thats always the case.Back in the depression,in the states,the government survived,but most of peoples savings in the bank was irretrievable.[Ofcourse it was -you cant pay a persons invested money back when you have relended it out 10 or 2o times over ,at least not if everyone wants it back at once.Hell,the head of the reserve bank of England came right out and said that they were 2-3 weeks away from a financial meltdown at one stage.We're not talking about the depression days here.This was just a year or two ago.As far as I know[correct me if Im wrong]those who held treasury notes back in the depression were ok-I know for a fact that those who had a good stash were sweet[think Joe Kennedy]
    I think some of you are confusing the end of our cushy lifestyle with the end of civilization.There are lots of stops along the way.
    Im just suggesting changing the way of thinking to dealing with things on a more local level and if possible protecting what youve got by getting rid of debt first,and if theres some left over maybe sacrificing a bit of interest on your savings[theres a reason gov. bonds pay less interest]
    That way,if the scenario that some of you think is impossible,happens,you hopefully will have a bit of dosh for supplies,and maybe a water tank or woodburner.If its a depression, that sweet cash will buy alot more of that stuff than now.Since we are on the silver thread-Its seems to make since to have a bit of that stuff for insurance purposes.Im talking about another hopefully bit of security,rather than a major speculation.It may well be worth speculating on as well ,but thats another issue that Im sure lots will be happy to debate
    For those of you who have a nest egg-let me introduce you to an interesting new thought-You may survive,or even get rich alot quicker by simply protecting what you've got..

  2. #652
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    I don't see a depression on the horizon, the Great Depression began with the 1929 crash, everyone thought they were going to be rich, the gold standard causing more grief and injudicious fiddling by the US govt. I thought about stashing some gold away a few years back but decided to eliminate the mortgage instead after watching the real estate mania on TV and reading about CDO's in the FT.

    I think you're right about govt. bonds there skid, if you've got some at say 4% and there's a depression then they become worth heaps because interest rates are negative and the security of the govt. If the govt. fails we've all had it.

    In a depression you're probably better off with govt. bonds than gold or silver, no one could afford them, but perhaps upside umop could comment on that.

    There's no stockmarket hysteria at the moment, banks are being monitored carefully, and deleveraging is slowly taking place, but could be another 3 years before we're out of the woods there according to the FT.

    I'm not a survivalist, but yes I do have lots of firewood trees, chainsaw, a splitter, livestock (including chooks), woodburner, no debt, a generator (which I use quite often), rainwater gravity-fed water supply and firearms.

    What concerns me the most is security of power supply, which is why I have a 5K generator. The power network like lots of infrastructure is dreadfully run down and a while back a corroded shackle caused a power disruption to half of Auckland.

    We normally have 2 freezers full of meat.

    I've called the power company twice about the state of the local power poles, but they come out (recent immigrant, EASL, cheapest labour syndrome), take a look and go away. Repairs are only carried out once a breakage has occurred, there's no preventitive maintenance because it would impinge on their profits and make the boss look bad, better to leave it to the next manager.
    Last edited by Skol; 10-04-2012 at 09:41 AM.

  3. #653
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    Sounds like your on the right track to me--Eliminating that mortgage[before anything else] is a leap in the right direction awsome
    Im not a hard core survivalist either,but I do think there are alot of small steps in the right direction--Youvbe got a chainsaw and splitter,Maybe Joe down the road has a set of trestles and plank,Charlie can fix anything machanical--you get the picture..

  4. #654
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    Quote Originally Posted by JBmurc View Post
    right I thought you said "If you think the banks are going to fail, then I'm afraid the govt will fail too." well when you look at the list in the USA ...so many have failed but the US govt keeps growing I'm sure I read recent some massive amount of new jobs aka 40% were new govt jobs...

    yeah sadly as we spent alot more than planned we do have a morg
    I did say that. I said it in the sense skid was saying, that all mainstream banks were going to fail. If you think this is going to happen, we're all screwed and you'll have more to worry about than paying off your mortgage. As skol says, you would want more than govt bonds....try a shotgun, a horse and some land.

  5. #655
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    Jon Nadler says fair value for silver is about $15- $20.

    Sounds about right.

  6. #656
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Skol View Post
    Jon Nadler says fair value for silver is about $15- $20.

    Sounds about right.
    Jon Nadler says alot most of it pure rubbish
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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    Goldbugs despise Nadler because he's not forecasting pm's 'going to the moon' like all the other idiots. I've listened and read some of his stuff and he talks a lot of common sense, he just can't work out why people pay exorbitant prices for gold and silver.

    All the 'experts' forecast prices of $3000 to $15,000 for gold not a single one of them have got it right - yet.

    And he doesn't believe in the gold and silver 'suppression' either, that must really rile the goldbugs, one of their main fantasies rubbished.

  8. #658
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    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #659
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    Quote Originally Posted by JBmurc View Post
    It's not working because the USD index is up 10% in the last year, lucky I've got heaps of them stashed away for my vacation later on this year.

  10. #660
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    Bloomberg reports that US economy bulls and bears both agree the dollar is the most undervalued currency in the world.

    JB

    You haven't reported that the CME Group lowered margin requirements for silver. Shouldn't that have seen silver blast off to the heavens? Because when they increase the margin requirements it's always touted by the goldbugs as a bankster and Fed conspiracy to 'suppress' the price.

    They lowered the margin and gold dropped $US1.

    Lower highs and lower lows.
    USD on the way up.
    The 'death cross' occurred in November.
    The HUI down another 3%.

    Why don't you get some good old fashioned, reliable, useful paper currency and put it in the bank?

    Since May last year you'd have been better off. There was an article yesterday about the real winners over the last few years, the people with money in the bank and term deposits, you don't get much, but beats the hell out of silver for example, down 37% in the last year.
    Last edited by Skol; 24-04-2012 at 08:13 AM.

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