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BSOSCBlog.com • View topic - Be Glad Gold/Silver Prices Have Not Skyrocketd Yet!!!

Be Glad Gold/Silver Prices Have Not Skyrocketd Yet!!!

Be Glad Gold/Silver Prices Have Not Skyrocketd Yet!!!

Postby jpf1030 » Sat Dec 21, 2013 1:57 am

Howdy All,
As a dedicated daily follower of the precious metals market, I subscribe to the newsletters of whom most would consider to be among the best experts in the industry. One in such category, I consider to be "Trader" Dan Norcini who does a column for the GATA folks with the www.goldseeker.com newsletter. Today Dan had an excellent column reminding me why we should not be too anxious to see gold/silver explode to their true market value at too fast an acceleration.

Yes, we have preached here on our blog/forum for years to get out of cash and into preparedness followed by precious metal or at least US Nickels and Pre-'82 pennies if you can't afford silver, as probably none of us can afford gold.

What Dan writes today is in regard to gold, but holds equally well to silver. We all purchase precious metals, nickels, old US Pennies as insurance against our meager wealth being wiped out in the devaluation of our fiat paper dollars. Dan reminds us that we bought metals as an insurance policy for our future well being. Therefore, we should not get caught up in the drama of daily oppression of the metals values by the crooked manipulation of prices by the shister banksters!

Anybody with half a brain full-well understands that no fiat currency has ever lasted, especially when it is being debased to the (reported!!!) amount of $85 billion per month in new fiat currency that is not even being printed, but digitally created with the magic of computer keystrokes.

The most important key element to remember is that gold and silver have never significantly fluctuated in their purchasing power in their recorded history of mankind. That being said, you can see why the "paper" metals prices on the criminal controlled commodities exchanges mean absolutely nothng. If gold is slammed down to $1200 as at present or takes off in the free market to $12,000, the amount of goods and services it will purchase will not fluctuate greatly.

Therefore, the paper metals prices should not even be of a concern to us as we sit tight on our metals, knowing they are our wealth protection, even if it is only rolls of nickels and a few pre-65 US silver coins. A silver dime will still purchase a loaf of bread today as it did when I was a kid half a century ago and most likely will still be about the same when silver hits $500 per ounce. We have studied the relative purchasing power of gold and silver throughout US history and even for thousands of years in other nations, finding the purchasing power remainng very stable throughout the ages.

Don't fret about metals prices be fraudenly being manipulated down (now) below the cost of mining production, it has no bearing on its value as your wealth protection insurance. Look at this time as God extending the open window of time for you to get some gold/silver/US Nickels/Older Pennies at extremely low prices...Get Prepared!!!...jpf
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Clip from Dan Norcini's column today:
I have stated it before but will do so again - Gold is insurance against currency debasement. One buys insurance to protect themselves against unforeseen events HOPING that they will never have to use it. One does not buy insurance and then OBSESS over the policy. You buy it, obtain your peace of mind and then get about with the business of life. Owning gold provides you with the peace of mind that if events unfold that are deleterious to the health of the US Dollar ( if you are an American citizen - obviously citizens of other countries would be focused on their own native currency) your assets are shielded as much as possible.

It does seem to me however that those who keep yearning, pining, hoping, wishing, and even perhaps praying, for a higher gold price are yearning, pining, hoping, wishing and even perhaps praying for the house to burn down so that they can collect on the insurance policy. I find that rather sad. I am interested as much as anyone else in honest money and am more than ever concerned over the mounting US mountain of unfunded liabilities. That is why I own gold but I really marvel that so many seem to almost welcome the chaos that would engulf our society should the price of gold indeed reach some of the levels that many of these prognosticators assure us it will reach. As a father with children, I do not wish to see a society that would more closely resemble something out of a "Mad Max" movie just so that I could bathe in all the Dollars that my $5000 ounce gold bar would bring me. There is almost a morbid mentality that would wish for such things.
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