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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
 Posted - 10/14/2009 : 22:23:21
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If silver is the poor man's gold, does that make copper the poor man's silver? I'm starting to think that could be the case. Gold is beginning to make daily headlines with nominal "all time highs" occuring as frequently as two or three times a week. Silver is climbing the wall of worry back to it's former glory of March of 2008. Both are a bit pricey right now and subject to correction from profit takers and the damned short selling Comex cadre. So, copper, having many of the same monetary aspects of the PM's has caught my attention as a likely candidate for future price appreciation. The "worthless penny" which you can still find laying on the ground in the poorest sections of town, has the high probability of increasing from it's present metal content value of near 2 cents based on commodities fundamentals, a great possibility of price appreciation as more investor's turn their attention to it, and the explosive potential of unimaginable purchasing power in the event of hyperinflation. If you can't afford silver or gold, by all means start hoarding those copper pennies. It's just common sense. I can see the day coming as early as next year when each penny is valued closer to ten or twenty cents. Our fate is in China's hands.
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Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 10/15/2009 : 16:04:29
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beauanderos: I agree with your comments about copper.
But your statement about "Our fate is in China's hands" is not correct. There is a saying: "If you owe the bank $10,000, you have a problem. If you owe the bank $10 million, the bank has a problem."
Other countries gave us $$$. They are the ones who are getting their assets (bonds) diluted & lessened by the inflated $ supply & weaker dollar. And if we default, they lose - we win. And there is nothing they can do. Except buy fewer bonds from us in the future.
That may not be a bad thing - then maybe we'd think twice before spending ourselves into a hole. In a way China & others have enabled the U.S. to get into debt. Maybe they thought it would weaken us, but if we bankrupt other countries in the process, we all may lose!
Keep storing away copper & other PM's! Good Luck! |
Most recent book I've read: "Meltdown" by Thomas E. Woods Jr. Current book: "I.O.U.: Why Everyone Owes Everyone & No One Can Pay" by John Lanchester |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/15/2009 : 22:31:00
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It's great to see such thoughtful posts from a couple of new members here. With the China issue it seems to me that neither country holds all the cards, but I would say that China has a lot more options available to it than simply changing its buying habits with respect to bonds.
Scrap metal and other raw materials are shipped to China every day, while the markets here are flooded with low-quality goods and quickly depreciating entertainment devices. Over time, increased control over resources and improved manufacturing capabilities may translate into superior military power (think of what they've been able to do with "our" technology so far). They also have a pretty large population to draw on. A war may not be the result, but I have a feeling that control of base metals is going to be increasingly important in the years to come. |
Edited by - psi on 10/15/2009 22:32:28 |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/16/2009 : 09:17:34
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| Booo! I really am disappointed with those that call copper the poor man's anything! Granted, gold has had a good little run here lately. I will be surprised if it is not hammered down under $1,000.00 fairly soon. You may be looking at the wrong thing. Look at the percentages. If gold was @ $1,000.00 and it went up to $1,100.00. It went up 10%. Copper has went up 100% since January. That is not the poor man's anything, it is the holdings of an intelligent investor, |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/16/2009 : 14:50:53
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Gold, Silver and Copper have been used for Money for several thousands of years. It is when people forget that we get in trouble.
Right now China is spending much of their FRN to buy copper, iron and many other items to hold or use instead of cash. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Copper the poor man's Silver?
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