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LayYouIn
Taurus


Registered: 09/28/06
Posts: 4,402
Loc: Organ
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So is this correct with precious metals...
#9810713 - 02/16/09 09:21 PM (15 years, 9 days ago) |
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...i was reading up on it a little and read something like this(i wont post a link though)...it said something like...
...it the government gets it right and we dont go into a great-depression-type scenario, precious metals will shoot up in price...but if they get it wrong, and we do go into a great-depression-type scenario, precious metals will go way down.
is this correct?
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ZippoZ
Knomadic



Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
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Re: So is this correct with precious metals... [Re: LayYouIn]
#9810895 - 02/16/09 09:51 PM (15 years, 9 days ago) |
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hmm, personally i dont see precious metals going down.....
thats just me though....
im also of the opinion that we are headed for major inflation, and that in itself will drive the price of PM's through the roof.
-------------------- PEACE
zippoz "in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption" "People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
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Box0196
Stranger


Registered: 09/21/08
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Loc: upper midwest
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Re: So is this correct with precious metals... [Re: LayYouIn]
#9811124 - 02/16/09 10:28 PM (15 years, 9 days ago) |
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The thing that people like about precious metals is that they are real and have some real value(because they have use other than just storing value) where as the money we use only has value because we (or the government) say it does. Investors and the like will often turn to precious metals in times of uncertainty because if the dollar loses value relative to other currencies, we experience considerable inflation, or the currency collapses the actual value of your metal will remain constant at which point you can convert you metal back to currency at new inflated rate and still have the purchasing power to buy the things you need. Hope this is helpful.
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tomnl
Beginner



Registered: 06/16/08
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Re: So is this correct with precious metals... [Re: Box0196]
#9814105 - 02/17/09 12:49 PM (15 years, 8 days ago) |
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i think they mean if we hit a hard f'ing depression, nobody would be anymore interested in PM's. Just after the depression you'll get the money, if you will survive it though.
-------------------- Been away so long I hardly knew the place Gee, it's good to be back home Leave it till tomorrow to unpack my case Honey disconnect the phone I'm back in the USSA You don't know how lucky you are, boy Back in the US Back in the US Back in the USSA
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Funguymon
Stranger

Registered: 01/27/09
Posts: 185
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Re: So is this correct with precious metals... [Re: tomnl]
#9814616 - 02/17/09 02:25 PM (15 years, 8 days ago) |
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Precious metals will only go up because:
1. There will be a black market of goods that are exchanged instead of relying on the government for currency value. So if you want to exchange silver for food, you get a hard legit currency that is marked from which mine or mint it was stamped from that is done from person to person rather than person to grocery store.
2. In order to get out of the depression, one solution will be to produce actual items such as bikes, cars, solar panels that need metal in the circuit boards, and all of those require purchasing precious metals from mines, which relates to stock bought into the company, which means that if precious metals are used for production, than the actual physical currency will remain high in demand because of a shortage of currency.
3. When this is all said and done and the government's realize we must be back by some kind of gold standard, you can than exchange your gold in for cash that literally is a bank note saying this bill is worth this much gold so you don't have to carry .25 oz of gold on you that will be worth thousands of dollars in todays standards. That .25 oz is the size of penny (but weighs a lot more). Hence their storage potential and money making too.
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