A bump and a little update. Several websites that have recently interviewed Eric Sprott have come under cyber attacks usually from several anonymous sources. Kinda makes you wonder who is behind that. 🙄 Does someone hate Eric Sprott or just his message?
There is a reason the USA needs 7 years to return Germany's gold back to them. You can't return something you no longer possess. It's one heck of a big web of lies being fed to the public but with some digging logical explanations can be found.
Peter Shiff explains precious metals recent pullback. http://www.youtube.com/watch?v=ZaVCKsIJlmE I have to agree that now is a good time to buy. Picking the exact bottom requires a crystal ball and I'm fresh out of them. Lots of precious metal contracts have to be settled on Feb 25, how convenient for this recent price plunge.
Happy stacking,
BTR
Edited to add: If the precious metals are not in your hand you own nothing. GLD and SLV shares are nothing more than paper, much like fiat currency.
Never in the history of gold and silver being used as money has the value gone to zero. Try saying that about fiat currency.
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
If you are in Calgary try http://www.albern.com/
It wasn't raining when Noah built the Ark.....
A rather nice explanation for those who do not understand the difference between fiat currency (that stuff that folds and you store in your wallet) and real money.
http://moneybagsworld.blogspot.ca/2013/03/mike-maloney-hidden-secrets-of-money.html
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
I have learned to refer to our current money as paper debt based money instead of fiat. Fiat is what we have but gold can be fiat too since "Fiat money is money that derives its value from government regulation or law. " So if gold is used by government then that is actually fiat. Gold (or whatever metal) if used independent of government would be a non-fiat based system.
Some characteristics of money:
The characteristics of money can be divided into six different categories: Durability, portability, divisibility, uniformity, limited supply, and acceptability. With the ongoing fraudulent issues associated with counterfeit money, it is important to be familiar with these categories.
Acceptability: In terms of a form of currency being accepted within society, money must be accepted by everyone in the economy. This acceptance is for the purpose of the exchange of money for goods and different types of services.
Divisibility: This relates to money being easily divided into smaller denominations for transactional purposes. People will only need as much money as is necessary for their purchases, therefore it is necessary for money to be easily broken down for different types of transactions.
Durability: This simply refers to the physical wear and use of money over a period of time. If some money is easily destroyed or damaged it is likely that it is fraudulent and therefore cannot be trusted. Yet, money is made from a paper source, so some wear and tear must be expected.
Limited supply: In order for money to retain its worth, there must be a type of limited supply. The more money that is in circulation the less it is valued by the economy.
Portability: Quite simply it is necessary for money to be easily transported so that people can carry it around with them on a daily basis. This also allows for the ease of transaction so that money can be transferred from one place to another.
Uniformity: Depending on the different types of currency that are available, money within that specific currency must look the same. This also allows for money to be counted and measured accurately.
An alternative way for distinguishing the characteristics of money is that it is easily recognized. Money is subject to the type of currency that is in circulation within a specific place, so if it is easily recognized and it follows the above characteristics, then it is likely to be genuine.
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The limited supply/durability and divisability aspect is easily done with metals IMO. Sure more can be mined but mining takes massive resources to attain real value. Yeah I know you cant eat gold (I was once of this thought) but it is scarce relative to that plastic/paper/cotton crap that is floating around. We are told to accept it so we do. Sad.
I keep a well circulated (READ: trashy) Canadian silver dollar on my desk as a reminder of what money really is. It's value for silver content (0.60006 Oz's) alone is $17.61 today. A $1 bill in 1963 had the same buying power as $7.53 today or another way of putting that is today's Loonie has the same buying power as $0.13 had in 1963. Need I say more?
Gold and silver has always had some value for the last 5,000 years. PM's (Precious Metals) values have NEVER gone to zero in that time. I would love to know about currency that is not PM backed that has not lost value.
Remember, with precious metals if it ain't in your hand you own nothing but paper. Avoid ETF's if you can.
Happy stacking,
BTR
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
Basic read called "Inflation And Debt: Stealing People's Wealth"
Easy read and you dont have to be an economist to understand it.
http://www.articlesnatch.com/Article/Inflation-And-Debt--Stealing-People-s-Wealth/765306
How's that working out for you??? While I understand the issues people have with fiat currency, I also appreciate that those who wag the dog have a vested interest in making sure that the music doesn't stop. I'm certainly happy I didn't invest too much on "hard" currency last year when everyone was certain that gold was going to $3000. For me, the money is better invested in the three Fs. Food, Fuel, and Fertilizer.
Needs must when the devil drives.
Investing in your '3F's' at least allows you to escape inflation which is far higher than the Consumer Price Index tells us it is. I see that every time I open my wallet to purchase something. It's not the price of good going up, it's the value of our dollar going down. Furthermore your 3F's are commodities that you have in your possession rather than a piece of paper saying you own something.
PM's are down right now but that is due to bankster actions that are down right fraudulent. People taking possession of their 'supposedly' allocated stored gold bars are receiving (after an extended waiting period) bars with different serial numbers than the bars that they bought and stored. Also look at the spot (ETF) price and the roughly 20% premium that is being paid in order to take possession of physical metal. France and the USA are in Mali 'liberating' Mali's gold in order to meet Bundesbank's gold repatriation request. Right now a lot of individual gold bars have been sold to several people at the same time. That is the problem with holding a certificate as opposed to having the physical metal in your possession.
Watch the bond market and long term mortgage rates. I almost feel sorry for people who's present mortgage term will expire in the next 2 or 3 years. Of course like any other prep, being awake and aware of what is really going on is the key.
Than= I’d rather be rich than poor.
Then= I first became hungry then I ate.
There = She is there now.
Their = They have their things.
They're = They're going to the mall.
To = They came to the house.
Too = That's too bad.
I have been using Silver, Gold Bull.. just off 16th in Calgary. I do not buy, with any care for what it is worth today, or tomorrow, or even next month. If things go bad, economy, dollar, it is just one more base I am trying to cover, with as many options as possible.