Wonder why the Gold/Silver Rush is happening?

[Hitman]

Me too!
I don't think it's a matter of 'IF' the dollar will be banished, but more a matter of 'WHEN'. Assuming all things are heading in the same direction like they are now. Video at the bottom for those who just can't read without falling asleep
In short; start buying gold a little at a time.
http://en.wikipedia.org/wiki/Gold_as_an_investment
http://www2.goldline.com/



So I was interested in what other countries are thinking about our world situation and the dollar.

I came upon numerous, LOTS of news articles about a Financial Meeting held by Russia, China, Japan, France and maybe a few others but NO WHERE in any of these articles do they report that the US was at this meeting. Most probably b/c the meeting was about rejecting the US Dollar as the Oil Currency.
Being as this is the United States ONLY leg to stand on this should shock the **** out of ALL Americans.

Just a very few links about this meeting;
There is reports all over the net but only seen ONE by an American agency
http://www.cnbc.com/id/33193382/Secret_Meeting_To_Plan_Dollar_s_Demise
http://volokh.com/2009/10/05/robert-fisk-countries-holding-secret-meeting-to-replace-the-dollar/
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
http://saynsumthn.wordpress.com/201...-world-leaders-call-for-new-unified-currency/

Then not too long after this meeting happen "Russia and China" kick it off with this headline; "China & Russia Reject the Dollar" As posted HERE by Nick.
The dollars days are numbered as China and Russia begin bi-lateral trade
http://www.examiner.com/finance-exa...ed-as-china-and-russia-begin-bi-lateral-trade
Just Click Here

Seems like the world knows, but the US MSM is not talking about it. Well not all of them and surely not enough.

Then I listened to this and everything I had read all made sense. Everything I'd been reading someone has put together in a video/audio for EASY comprehension.
(Long BUT educational) still listening but I've heard enough and researched enough about what was said to know that it's worth listening to. Would appreciate some clarity on some of the things said.
I know attention spans are short now days so it might not fare well for most and
http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC38/PR

OR you could just;
Listen to the smartest financial guru in modern day!

[ame]http://www.youtube.com/watch?v=SvWBXKAYqyk[/ame]

[ame]http://www.youtube.com/watch?v=dDTtu7nhnzk[/ame]

 

[James Cannon]

Yea, buy gold, because all the people that invested in gold a year ago want a return on their purchase when they sell it all.

 

[rooster]

Yea, buy gold, because all the people that invested in gold a year ago want a return on their purchase when they sell it all.

Gold has gone up $263 or around 19% since a year ago so they have a return on their purchases.

 

[James Cannon]

Gold has gone up $263 or around 19% since a year ago so they have a return on their purchases.

And I'm sure Rush Limbaugh and Glenn Beck (both gold owners) have nothing to do with that :P

Like all artificial / subjective values, it too will fall.

It's fear mongering, and making stooges of the middle class at the expense of their savings and retirement... -again-

 

[Gus McCrae]

Gold is at it's highest ever.... So buy lots of it!!!!


Buy high, sell higher..... just like the housing market!!!!


Buy high, sell low!!!!


Buy Gold, buy gold, buy gold!!!!

 

[Hitman]

It's fear mongering, and making stooges of the middle class at the expense of their savings and retirement... -again-

Do you deny that the Dollar is in peril?

Do you deny that Gold is a worthy investment?

Are you denying the fact that Russia, China and Arab nations have indeed rejected the dollar as the Oil Currency?



Maybe you provide a single shred of evidence that the dollar is gaining value?

What do you suggest Americans do? or do you deny that America is heading towards a Financial Collapse?

 

[rooster]

People who act like gold is an investment as compared to stocks are ignorant. It is savings. It works just like cash. It is not a good investment, it is a currency. The us dollar is a terrible investment unless you do short term trades. Gold is not as bad an investment but it is still bad. With that said just because something is a bad investment does not mean you should not own it. Ammo, clothes, DVDs, all these things are bad investments but they have there place. It makes me mad when I see G Gordan Liddy tell me how exciting gold is, but I also hate to hear people act like gold will be worthless.

 

[Ben Draughn]

buy food you can't eat gold.

 

[JBP55]

There are a few on BS old enough to remember the rush to buy Silver at inflated prices before it crashed and was worth almost nothing. It dropped so low I was giving 1oz. silver pieces to small children. I gave most of mine away years ago.

 

[Hitman]

People who act like gold is an investment as compared to stocks are ignorant. It is savings. It works just like cash. It is not a good investment, it is a currency.

It'd be a hell of an investment if the US dollar crashes(Like it's doing) though correct?

 

[Hitman]

There are a few on BS old enough to remember the rush to buy Silver at inflated prices before it crashed

How was the US ecomomy as compared to today?

 

[rooster]

There are a few on BS old enough to remember the rush to buy Silver at inflated prices before it crashed and was worth almost nothing. It dropped so low I was giving 1oz. silver pieces to small children. I gave most of mine away years ago.

Not that old but I do read and I don't know of anytime when 1 oz was worth almost nothing. Seeing as pre 1964 .72 oz of silver was worth $1. And back then $1 bought more than it does today.

 

[Gus McCrae]

It'd be a hell of an investment if the US dollar crashes(Like it's doing) though correct?

It'll be worth more in dollars, but it's "value" may not increase. You may still be able to buy the same amount of oil for X amount of gold, but both will cost more dollars.

 

[James Cannon]

It'd be a hell of an investment if the US dollar crashes(Like it's doing) though correct?

Think this is the first time that scare tactic was touted?

We're going to be using the USD here tomorrow. We will be next year. We will be next DECADE. What it's worth compared to Yen or Euros or Pounds is rather moot unless you plan on taking your gold there on vacation to sell and use their currency, instead of trading USD in.

People talk about the "assault weapon scare" so much on here, where they bought cheap shitty ARs for 8x what they go for now. You think the same can't happen for our currency? It's not an apples to apples situation, but an illustration. That it can rebound. The USA is not going to be bought by some other country, dude. We're not -for sale-.

 

[Hitman]

The USA is not going to be bought by some other country, dude. We're not -for sale-.

I'm not saying it is.

But you didn't answer my questions.

 

[SpeedRacer]

No one doubts the dollar will be devalued. How much or how fast no one knows. But gold is at (IMHO) a false high right now and it's a TERRIBLE time to buy. You stand to lose just as much or more when gold crashes. That, and true or not I tend to not take advice from people trying to sell me ****. If Goldline really believed all the facts they state, they'd be idiots to trade gold for dollars. Just wouldn't make sense.

IMO if you're really convinced the dollar is gonna tank, invest in ammo. It's at a lowpoint right now compared to the dollar. And in the unlikely event the S truly H's TF it will be much more useful and easier to get rid of than gold. I view gold as a gamble, an investment that pays off under one very specific set of circumstances and otherwise ****s you. The value, and more importantly the demand for ammo really only stands to increase the shittier the fan gets.

So there you have it...an excuse to buy ammo!

 

[rooster]

I don't agree with all your points speedracer but i do like your conclusion.

 

[Hitman]

I don't agree with all your points speedracer but i do like your conclusion.

Expound please, it's the reason I created the topic/.

B/c from the looks of it the dollar has no signs of recovering, and other power house countries are rejecting it which could lead to rejecting the dollar as the reserve currency correct? So lay it on me

 

[James Cannon]

Ok, fine, I'll answer...

Do you deny that the Dollar is in peril?

Peril of what? Using these buzz words and doom-and-gloom is exactly how those buffoons on TV and Radio are getting suckers to buy up precious metals.

Do you deny that Gold is a worthy investment?

ABSOLUTELY, I deny it is a worthy investment. Unless you're a day trader, gold has a poor track record.

Are you denying the fact that Russia, China and Arab nations have indeed rejected the dollar as the Oil Currency?

Never even began to speak on that topic nor do I care. I don't deny it, but I don't confirm it either.

Maybe you provide a single shred of evidence that the dollar is gaining value?

I never made the claim!

What do you suggest Americans do? or do you deny that America is heading towards a Financial Collapse?

I suggest Americans do what Americans always should do. Work hard, save your money, don't live beyond your means, and don't expect other people to pay for your poor situations.

 

[James Cannon]

Here's the historical price of silver in our country.
http://upload.wikimedia.org/wikipedia/commons/f/fe/Ag_annual_average_USD_price_1792-2005.svg