Gold: $470.60/oz

[Michael Fisher]

 

[aries]

If gold goes to $3000 I will be so rich that I will not care if the economy falls apart. Interest rates went to 20%. Our economy and housing bubble can't handle that today. The government needs 2.5 billion dollars a day to finance our debt. Thats not being financed by Americans because our savings rate is 0. When the government and the consumers borrow from the future , the thing about the future is it eventually gets here.  I don't know if we are at the breaking point but I am watching closer now.

you might want to cash some of that in for FRNs when it happens, so after they deflate you'll be rich in legal tender too 

[Kat Kanning]

I'd want to trade it for goods, land...that sort of thing.

[JonM]

I bought one lousy ounce of gold for $504 . . . in the form of 10 1/10th ounce $5 gold eagles some infomercial was selling for $48 each + $24 s/h.

Was fairly surprised when 10 2006 versions showed up actually.  The company sells "rare" gold coins, after I ordered the 10 eagles, they wanted to throw in a rare 1oz coin for only $1481.  I declined, and the sales rep was not happy about that.  Now I just have to suffer a lifetime of junk mail for my savings.

[PowerPenguin]

Do you guys think Platinum & Paladium are legit as sound metals holdings? I've heared different things from different people, but those I consider to be reliable experts either ignore these two options or write them off as being too risky. If you own one of these two elements, why? How has it worked out for you?

Thanks.

[Fluff and Stuff]

Do you guys think Platinum & Paladium are legit as sound metals holdings? I've heared different things from different people, but those I consider to be reliable experts either ignore these two options or write them off as being too risky. If you own one of these two elements, why? How has it worked out for you?

Thanks.

I know Paladium, it's sister metal is way over bought, IMHO.  My metal is doing very well.

[Russell Kanning]

How do you decide what makes it "sound". Don't people have to want or need it?

[Kat Kanning]

Gold $635
Silver $13.09

[Michael Fisher]

Au: $678.70
Ag: $13.90

Now it's starting to lose its shock value.

If we get completely out of debt and learn to create most of what we need to live, as independent living requires, we should come out on top of the great collapse.

[Russell Kanning]

Being in debt works well when the money gets devalued.

But I do like the idea of no debt and not holding dollars. I do like to trade with other people to get what I need. I don't have to live independently.

[Dreepa]

Being in debt works well when the money gets devalued.

But I do like the idea of no debt and not holding dollars. I do like to trade with other people to get what I need. I don't have to live independently.

Interdependant.
Having no debt is a great thing... freedom. beholden to no one.

[Pat McCotter]

Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

[BaRbArIaN]

Copper is even up to about $3.43/lb. now, making collecting of pre-1982 pennies economical.  Not to mention wiring and pipes.

[Pat McCotter]

Copper price last 5 years. Wow.

[attachment deleted by admin]

[Michael Fisher]

Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

Do not borrow unless absolutely necessary:

"The rich rules over the poor,
And the borrower becomes the lender's slave."
-Proverbs 22:7

"The LORD will make you abound in prosperity, in the offspring of your body and in the offspring of your beast and in the produce of your ground, in the land which the LORD swore to your fathers to give you.

"The LORD will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow."
-Deuteronomy 28:11-12

[Then, if you do not follow these commandments...]

"A people whom you do not know shall eat up the produce of your ground and all your labors, and you will never be anything but oppressed and crushed continually.

"The alien who is among you shall rise above you higher and higher, but you will go down lower and lower.

"He shall lend to you, but you will not lend to him; he shall be the head, and you will be the tail."
-Deuteronomy 28:33, 43-44


On avoiding long-term debt:

"At the end of every seven years, you shall grant a remission of debts."
-Deuteronomy 15:1


Avoid surety:

"My son, if you have become surety for your neighbor,
Have given a pledge for a stranger,
If you have been snared with the words of your mouth,
Have been caught with the words of your mouth,
Do this then, my son, and deliver yourself;
Since you have come into the hand of your neighbor,
Go, humble yourself, and importune your neighbor."
-Proverbs 6:1-3

"Take his garment when he becomes surety for a stranger;
and for foreigners, hold him in pledge."
-Proverbs 20:16