Banking Crisis MK II

[Guest Scaramanga]

Gold will continue to rise as the monetary system collapses.

Wealth will return to precious metals as it always has throughout history.

The gold/silver ratio is currently approx 60:1 so gold has 60 times the value of silver.

It should be approx 16:1 as was in the old monetary value when paper fiat money was supposed to be backed by precious metals.

This ratio comes from the fact there are 16 times as much (mineable) silver in the earths crust as there is gold.

In the past you could exchange an ounce of gold for 16 oz of silver.

Therefore right now silver should be 16 times less than gold.

Gold is breaking record highs almost daily and will continue to do so, silver WILL break the suppressed prices soon and is showing signs of doing that now ( rising daily)

Silver is approx $22 p/oz currently, using the correct ratio silver should be over $80.

Physical silver has been dumped onto the market to suppress these prices.

The interesting fact is that there is a worldwide shortage of silver needed for industrial application, whereas 90% of all gold ever mined still exists in some form, most silver has been dumped in landfill in your old Tv's phones etc

Analysts think the gold silver ratio should be much closer than 16:1 due to these facts, meaning Silver has the potential to match gold.

Would you prefer real "money" in the form of silver and gold which will always have real value,or worthless bits of paper.

Look at Zimbabwe in 20 years there currency went from being worth more than the dollar to 1$ being equal to 1 million Zimbabwe dollars thanks to hyper inflation, the now use trillion dollar notes.

You probably think that couldn't happen in the west ?

There is a unique opportunity now to invest worthless paper money into physical precious metals that you won't get in our lifetime again.

I stress Physical metals and NOT gold certificates etc, the banks have already sold off many more times the amount of gold they actually have.

 

And no i am not a crackpot ......

 

The last time I looked, gold was around £700 per troy oz. So I think i'll have to invest my money in cubic zirconiums or buy shares in Elizabeth Dukes!

 

This might sound stupid, but how does one go about buying gold? I remember seeing some on Ebay but I don't fancy getting my fingers burnt on some electroplated lead.

 

If you buy it does someone keep hold of it for you (like a bank) or do you have to look at all those things yourself?

 

If commodities are the way forward, I read an article on Reuters a few weeks ago that the US is selling helium at knock down prices just when the worlds supplies are dwindling. That might interest someone with more financial nous than myself.

 

Although putting all your savings in a giant balloon doesn't seem that sensible to me....

[Guest Scaramanga]

@Section_31

 

Thats a very interesting article. Similar to the one i mentioned earlier, although that concentrated primarily on Africa. I wasn't aware of Chinese involvement in South America, I wonder if that's the real reason events haven't gone "unnoticed" in Washington? Perhaps the Americans don't like anyone else doing business in their back yard.

 

My thoughts echo that of Michael Klare, I don't think the perceived "expansion" of Chinese interests is belligerent in any way at all. The West have fuelled Chinese growth and China are doing what any normal country would do, expand to meet that growth.

 

I do think he's way off base the military assessment of China though, they are quite a few years behind US and Europe in terms of capability.

[1_robbo]

The last time I looked, gold was around £700 per troy oz. So I think i'll have to invest my money in cubic zirconiums or buy shares in Elizabeth Dukes!

 

This might sound stupid, but how does one go about buying gold? I remember seeing some on Ebay but I don't fancy getting my fingers burnt on some electroplated lead.

 

If you buy it does someone keep hold of it for you (like a bank) or do you have to look at all those things yourself?

 

If commodities are the way forward, I read an article on Reuters a few weeks ago that the US is selling helium at knock down prices just when the worlds supplies are dwindling. That might interest someone with more financial nous than myself.

 

Although putting all your savings in a giant balloon doesn't seem that sensible to me....

 

Hi, Gold broke through $1300 per oz recently and is continuing to rise, i reckon £1500 by the end of the year is not impossible.

 

You can buy gold bullion coins in 1/10 oz 1/4 etc as Krugerands, Canadian Maples, Austrian Philharmonikars,American eagles etc, all .999% pure

Silver generally in 1oz coins.

You can buy generic rounds from minting companies such as Morgan, Apmex etc all with the same amount of silver purity but without a numismatic value attached.

 

Highly reputable online source for both gold and Silver is CoinInvestDirect - Gold Coins

UK based but Goods are sent from Germany.

 

Base in Guernsey and supplied Tax free (you pay tax on Silver in UK but not on Gold)

 

Suppliers of silver Maple, British Silver Rose, American Eagle, Sunshine coins and Bars

 

Although the above keep quite limited stock and sell out quite fast as more and more people are starting to turn to metals.

 

I wouln't trust a bank to look after it for me, all mine is safely in my possession.

 

Anyways don't just take my word for it do a bit of research.

Might be the best thing you ever did !

[1_robbo]

Kitco - Gold Precious Metals - Buy Gold Sell Gold, Silver, Platinum - Charts, Graphs, Prices, Quotes, Gold Stocks, Mining Stocks, bullion dealers

 

Good site for articles and current metals prices.

[dennis tooth]

I remember reading the black swan by Nassim Nicholas Taleb a few months before the banking crisis and thinking how could i make money through a banking collapse but then just left it. How i regret that decision now.

 

I can recommed his book and website, he makes a lot of sense. Well he does to me anyway.

 

http://www.fooledbyrandomness.com/

 

Read, it re read it, rinse and repeat, will be a long time before I finish reading it as I sometimes like to read books like this by random anti chronological anti library way of reading, its my method of sucking up knowledge with such wonderful dimensions.