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What about declaring the value for that carrying-more-than-$10,000 out of the US and into CR? Do you fudge and think of the coins as collectibles and not money?
I’m not so sure about storing coins in a banks safety deposit box. What’s the saying “if you don’t hold it, you don’t own it.”
With the Dollar going the way of the Peso, I’m wondering how high the metals will go. What I do know is that the banksters are up to something big. How much more can you devalue the Dollar, when it has already lost 95% of its value?Anyone who trusts a bank, any bank, deserves any losses incurred within that trust.
The whole point of HOLDING silver or gold is to HOLD it because bank paper is going to zero value. When that happens, and it always has, remember that bank boxes and their contents are legally the property of the bank.
I know some that have gold certificates, one out of a UK bank…would not trust that as the bank still has control…then again, fires and theft would relieve you of your money, too.
I have some gold, silver-certainly not enough-and in a lock box at the house………[quote=”VictoriaLST”]What about declaring the value for that carrying-more-than-$10,000 out of the US and into CR? Do you fudge and think of the coins as collectibles and not money?[/quote]
some coins are classed as collectible and not monetary….at one time, the USD had “redeemable for gold” and now, “federal reserve note”, meaning redeemable for nothing…..
so, the gold/silver coins might be classed as antiques and/or collectibles….Just how good an inflation hedge is gold?
Consider this:
When the dollar was removed from the gold standard the price of gold was $34.00 per ounce. The last spot price for an ounce of gold today (11/27/2012) was $1742.18.Total inflation from January 1973 to today has been 175.65%.
If the price of gold had floated with inflation during the same period an ounce of gold would sell for $6,147.75 today.Losing $4,405.57 to inflation doesn’t seem like a very good hedge to me.
Thinking that gold is going to preserve the value of your wealth is a fantasy. 😀 🙄 😥
I am not sure if you are joking or serious BUT, just in case;
how many dollars did you need to buy an ounce gold in 1973?
How many dollars DO you need to buy an ounce of gold today?I think not Waggoner. When the Dollar hits the fan, or at least devalued as it is being done as I type this through Benny Shalom Bernankes’ money printing, you will see gold going up dramatically. The only reason you don’t see those inflationary high prices on gold is because the banksters and the yol kedoyols are suppressing the price. Ditto for silver.
No way that I’m going to trust monopoly money, and as fast as I get it I convert it to silver eagles or junk silver.
It’s funny how they call it junk silver, but when you put a token coin which is worthless next to a shinny silver quarter or dime or a gorgeous 50 cent Kennedy halve Dollar, or better yet a beautiful silver Eagle you can instantly see the difference.Currently we have a unique situation as Gold trades in parity with equities and rises and falls with the dollar. Has gold been a good trade over the last few years? Certainly. But so has APPLE and many other equities. I bought APPLE at $96 dollars, I use the product and at the time they had 1 billion dollars in cash, I thought it was a good trade.
I also own gold but stopped buying at around $1200 dollars. One big potential pitfall I can see with the gold trade is so many people “own” it via ETF’s and if for some reason the herd goes the other way and we see big volume selling of these etf’s we may see sharp price destruction in gold as the physical gold owned by these financial companies is sold off.
People have been talking about “dollar collapse” for a very long time. I guess anything can happen, but I act in the present moment, not based on world apocalypse; guns and food storage will be more valuable in that scenario. Even a quick search of this forum will reveal those who saw the Euro becoming the next world reserve currency. Hope you kept your dollars and didn’t buy Euros last year or the year before when that was popular on this site. If you could not see the structural problems with the Euro zone, wonder how your current predictions will turn out?
Anyway it is an interesting discussion and we (USA) certainly have a number of issues to sort out. But I think the death of the United States has been greatly exaggerated. I am hoping for the best, but always prepared for the worst. In the mean time I am living in the present moment, not resisting life. balanced portfolio/balanced life. Best wishes everyone!
I can see your conservative point Lotus. I on the other hand can see the writing on the wall as they say. For lack of saying conspiracy, I believe that a nation that has a deficit of 16 trillion Dollars with another 140 trillion of unfunded costs such as Medicare, soc security, and 47 million families on food stamps is a nation in deep deep trouble. A nation that has to borrow from the Chinese to fund the wars in Iraq and Afghanistan, while the Demopublican Congress wants to increase the military budget even more is beyond comprehension.
A nation that allows half a million of legal, and millions of unchecked illegal immigrants, while millions of Americans are unemployed is insanity.
None of these issues are being addressed seriously, yet in the news what’s important is how a whore cuckholded her husband and corrupted an “incorruptible” general of the armed forces. Shame on these people.Being no expert on the subject I have to pick and choose those to whom I will listen for advice. I buy a little silver I buy a little stored food. I keep 1000 rounds of ammo on hand and I go to the target range every month. And even though it appears that collapse is a mathematical inevitability, The best thing that I can do for myself is to maintain hope that this does not happen anytime soon.
[quote=”sprite”]Being no expert on the subject I have to pick and choose those to whom I will listen for advice. I buy a little silver I buy a little stored food. I keep 1000 rounds of ammo on hand and I go to the target range every month. And even though it appears that collapse is a mathematical inevitability, The best thing that I can do for myself is to maintain hope that this does not happen anytime soon.[/quote]
sprite
so your a prepper LOL :D:D
I agree with what your saying.
gold and silver is a nice benefit to have but there are much more important things.
like the skillset needed to live in the changing times
it would be good to learn and master growing food, building alternative energy systems.. carpentry, electricity.. etc
because when the shit hits the fan.. all those people with gold and silver will be paying you to help them start a new life
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