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Post by Sir John on Nov 22, 2012 13:03:12 GMT -5
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Post by Swampy on Nov 22, 2012 13:51:05 GMT -5
With the central banks printing money, you better get a dozen.
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Post by Sir John on Nov 22, 2012 15:05:36 GMT -5
At $56,000,000 a copy, I doubt it. And it is an expensive exercise with loss of interest or trading profits on $56 million foregone.
Nice though.
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Post by dontom on Nov 23, 2012 6:57:16 GMT -5
At $56,000,000 a copy, I doubt it. And it is an expensive exercise with loss of interest or trading profits on $56 million foregone. Nice though. I would like to buy a few dozen. You can even keep the change from this after I pay off the US debt:  -Don- SSF, CA |
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Post by Sir John on Nov 23, 2012 12:31:43 GMT -5
The reason why Gold and silver are so popular with the 1%ers is that if and when hyperinflation begins the value goes up in tandem.
When the US$100 Trillion dollar notes are printed, that 'coin' will be worth US$100 QUADrillion+
(and my ASEs will be worth probably US$4 Trillion - EACH).
SJ
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Post by Swampy on Nov 23, 2012 14:24:50 GMT -5
If that's the case, I wouldn't just consider gold; I'd consider core real estate.
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Post by Sir John on Nov 23, 2012 14:52:41 GMT -5
Yes, that too.
REAL assets are the things that will protect you in the coming years, Gold, silver, good (up market) real estate, farms, etc.
NOT Bonds, shares, bank deposits, or any form of fiat currency, ALL of which will be worthless in a 1923 situation.
SJ
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Post by jerryfmcompushaft on Nov 23, 2012 16:36:04 GMT -5
I feel the need to remind both of you - your gold, silver and real estate is worth only what someone is willing to pay for it. You can't eat any of it. Food will be valuable..... (Or the many who can produce it)
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Post by Sir John on Nov 23, 2012 16:52:35 GMT -5
"your gold, silver and real estate is worth only what someone is willing to pay for it."
True, but a house is a roof over your head, and gold and silver will buy what you need on the black market. 'Spot Price' will remain a yardstick for everyone wanting REAL money, not worthless bits of toilet paper. ALL of them will be worth many times what a US greenback will be worth, or a US Treasury Bond, or a term deposit in a bank with its doors closed and a sign on it.
If I was a 1%er I would have all the hard assets many times over.
SJ
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Post by Sir John on Nov 23, 2012 17:56:32 GMT -5
PS,
A bunch of houses, purchased in good suburbs or city apartment blocks, will have the same relative value in 5 years or so, as they do now.
A typical family home will still be a typical family home, then as now.
Same with a farm, or a vault full of precious metals. Your Treasury Bond will buy a loaf of bread.
SJ
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Post by jerryfmcompushaft on Nov 23, 2012 22:38:42 GMT -5
"your gold, silver and real estate is worth only what someone is willing to pay for it." True, but a house is a roof over your head, and gold and silver will buy what you need on the black market. 'Spot Price' will remain a yardstick for everyone wanting REAL money, not worthless bits of toilet paper. ALL of them will be worth many times what a US greenback will be worth, or a US Treasury Bond, or a term deposit in a bank with its doors closed and a sign on it. If I was a 1%er I would have all the hard assets many times over. SJ I agree about paper money - but I ain't gonna trade my flour, rice, caned meat and vegies for you hunk of gold. What am I gonna do with it? Make wedding rings? |
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