It is really very easy. I am counting on lots of folks just like you to buy high & sell low so I can take the VikingBabe's advice & sell high & buy low . Unfortunately, I get confused at times.

 

You're killing me, Ship Boy

 

Gold is a great investment, as long as it is sitting inside your safe deposit box.

 

I think I will start saving the used lead weights from balancing tires...bring them home and melt them into sinker molds...

bought any fishing gear lately...sinkers are between 6 and 10 dollars a lb depending on size...

I could make myself a hundredaire!

 

I remember the Hunt Brothers manipulation scam in the late 70s. By a fluke of serendipity, we had 45lbs of pure silver from a trade with a local guy...not long after buying our present property (figured we would make some jewelry with it) Gold was just over $250 an oz and silver was still well under $3. However shortly after, Gold was going through the roof and silver was following not far behind.....eventually hitting $50 per oz. (Gold hit $1000)

As silver was going up, we found a precious metals smelter through friends who ran a jewelry store. Sent some of the silver for the monetary return to help pay for building material for the new shop. Traded some for a converted Gruman Delivery van turned RV (Dodge w/ 318) so we could travel to events. The owners thought the trade was a good investment the way the precious metals markets were going. And we needed something like their van to transport stuff while a place to live while at events.

The trade was made when silver hit $48....the day after that it hit $50. Then the bottom fell out. I do believe we actually did quite well in getting only what we needed. Everything just came together at the right time to make this happen.

We had silver ingots before when silver was $1.25. But finding a buyer was the hard part when we really needed to sell them. When you hit "hard times", you can't eat it or drink it, though. The Hunt Brothers scam was an extraordinary, "once in a lifetime" kind of event that's for sure.

However, I kinda wished having the forethought to have bought some gold when it was $35 an oz (before Nixon took the cap off it in 1972) LOL>......

 

That is a very good point. If you don't have a buyer, it is almost worthless.

 

I guess gold could be considered a hedge against inflation and since we are probably gonna start printing money sometime soon it might be the route to go. But then the market could turn and everybody will want to unload their gold and get into the next big thing and your investment would fall dramatically. Gold is what you need if you think the economy and the US will collapse. But then for it to be any good you will probably have to have equal parts lead to protect it.

 

Not to worry. I heard they just bought more ink and paper for those printing presses

 

I think the USA is well on its way to becoming another Equador or Peru. In Equador arounf 3% of the population controls around 98% of the countrys wealth. A friend who is a world history teacher (retired) went for a visit and he described first hand how you would see the wealthy living in very nice homes with a big fense around them and just feet away were the peeons living in shacks with tin roofs dirt floors surrounded by their on sewage and dirty water. This explains why their is such a money grab by those (like ceos) that can..they want to be sure that in 10 years they will be like the 3% in Equador....American dollers printed by the zillions wont be worth anything yet GOLD will always bring the world market price. Buy GOLD and when the time is right sell it but not for dollers cause euros will be better.