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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 01/29/2010 : 20:35:13
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I admit I'm shooting from the hip here, but it is looking like round #2 of the "recession" is well under way. The stock market is heading south but so is gold and silver. The dollar is gaining ground only because the Euro is falling due to the mess in Greece and with the British banks. That mess will reach our shores sooner of later.
Sure we never really came out of this recession, but as the stimulis fades so does the economy. Already talk of more stimulis on its way with the little money that has been paid back.....and that's just a start. A so called stronger dollar will only encourage it.
I wouldn't be surprised to see the stock market continue to fall with precious metals and most other commodities following it. I'm going to hang on to the precious metals I have, but I advise that others also hold on to a solid cash reserve to help weather this out. More stimulis ought to = higher PM prices over the long run.
A base metal cash coin hoard is a nice security blanket during ruff times ahead. Other prudent preps may be called for.
Good luck to all and may God bless.
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 01/30/2010 : 02:55:27
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| So what you're saying is that the drop in PM prices is only because the dollar is artificially gaining ground against the euro. This could bode well for those of us hoping for a drop in PM prices (if we can find lower-premium PMs as prices drop), but you hit the nail on the head, Jamie, having a cash reserve in general and base metal cash hoard in particular could be a very good thing right now. I'm seriously thinking about picking up a couple thousand dollars worth of nickels to get back into base metals AND to have cash on hand. Thanks for the reminder. |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 01/30/2010 : 13:08:02
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quote:
Originally posted by Nickelless
So what you're saying is that the drop in PM prices is only because the dollar is artificially gaining ground against the euro. This could bode well for those of us hoping for a drop in PM prices (if we can find lower-premium PMs as prices drop), but you hit the nail on the head, Jamie, having a cash reserve in general and base metal cash hoard in particular could be a very good thing right now. I'm seriously thinking about picking up a couple thousand dollars worth of nickels to get back into base metals AND to have cash on hand. Thanks for the reminder.
Something like that Nickelless. It is often easy for many of us (Including an old silver bug like me.) to get carried away during a climbing precious metals bull market and start to think that that there is no way that it will ever drop again and/or that there is no way the U.S. dollar can ever climb back up again. Both are faulty premises based on historical facts and can be dangerous to bet on with your last nickel right now.
IMHO, we have to remember who or what is still in control of the economy and especially precious metal prices dispite how much we may hate it. That is why I shy away from gold except for short term trading. Dispite what may or may not be in Fort Knox, the central banks of the world are holding a lot of gold. They have a lot of leverage in controling gold prices though it. Of course JP Morgan alone has done a good job of shorting the price of silver, but over the long term I believe no one will be able to do that.  Once silver disconnects from gold for good watch out! Until then there will be a lot of hurt that they can put onto us even without the direct intent of doing so. Being forced to part with your silver at a loss just to pay your bills and keep your belly fed is still an ongoing danger.
Yes, a falling silver market is a great buying opportunity and one should continue to do so, each according to their means. But we still need to deal in cash and the best cash to hoard away for the long term is a base metal coinage hoard. IMHO, U.S. nickels are both easy and a low risk considering that you can buy them at face value. That shouldn't be taken as a slam at copper cents, but mass sorting for them isn't for everyone.
But if you buy all those nickels can we still call you Nickeless? 
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Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Looking like Round #2 is here.
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