Interesting posts on CNBC precious metal stories
Posted: Wed Apr 20, 2011 12:30 pmNot sure if you guys read CNBC but there is someone who always posts the same comments whenever there is a precious metal story.
It might be one of us??? but I kind of doubt it since he is saying to only buy pre-1981 pennies
Str8Talk | Apr 20, 2011 11:03 AM ET
"GOLD is the only REAL CURRENCY" and all other currency values are based on GOLD.
"The Gold Standard" was the reason the dollar became the world currency. When tricky Pres. Nixon took the USD off the gold standard in 1971 gold was valued at about $41 USDs. It quickly rose to about $800 USDs before retracting back to the $250 to $350 range. This is the relationship of value of 1 oz of gold to the $USD. With all the QE/monetizing (money printing) of debt by the FED the USD value relationship to gold has changed (now about $1,400 per oz) as gold has a constant currency value and it's the fiat paper money that decreases in value.
Realize that in 1913 terms the $USD is now valued at about 3 cents.
How's that for the FED debasing our $USD currency purchasing power.
Buy Gold/Silver/Platinum and even pre-1981 copper pennies and you will be very happy you did in 5+ years.
The FED and US Treasury are the largest holders of gold.
The FED/Treasury buys/holds Gold and gives the masses pretty paper.
The $USD is in the 74 range today that's why the market is up
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Interesting to see another opinion where someone says to sell everything now:
Coagulant47 | Apr 20, 2011 12:40 PM ET
Silver and gold should be sold ASAP - all of it. The dollar has begun strengthening and will get much stronger with all the Obama budget cuts. The US has a very strict strong dollar policy and this latest run-up in the metals has been a fluke. Count yourself lucky and divest yourself of all precious metal holdings NOW, whether physical, paper or miner equities.
GET OUT OF GOLD AND SILVER NOW BEFORE THE COLLAPSE! GOLD WILL BE AT ~$450 BY YEAR'S END AND SILVER IS LIKELY TO DROP TO $4/OZ. OR SO.
It might be one of us??? but I kind of doubt it since he is saying to only buy pre-1981 pennies
Str8Talk | Apr 20, 2011 11:03 AM ET
"GOLD is the only REAL CURRENCY" and all other currency values are based on GOLD.
"The Gold Standard" was the reason the dollar became the world currency. When tricky Pres. Nixon took the USD off the gold standard in 1971 gold was valued at about $41 USDs. It quickly rose to about $800 USDs before retracting back to the $250 to $350 range. This is the relationship of value of 1 oz of gold to the $USD. With all the QE/monetizing (money printing) of debt by the FED the USD value relationship to gold has changed (now about $1,400 per oz) as gold has a constant currency value and it's the fiat paper money that decreases in value.
Realize that in 1913 terms the $USD is now valued at about 3 cents.
How's that for the FED debasing our $USD currency purchasing power.
Buy Gold/Silver/Platinum and even pre-1981 copper pennies and you will be very happy you did in 5+ years.
The FED and US Treasury are the largest holders of gold.
The FED/Treasury buys/holds Gold and gives the masses pretty paper.
The $USD is in the 74 range today that's why the market is up
**********************
Interesting to see another opinion where someone says to sell everything now:
Coagulant47 | Apr 20, 2011 12:40 PM ET
Silver and gold should be sold ASAP - all of it. The dollar has begun strengthening and will get much stronger with all the Obama budget cuts. The US has a very strict strong dollar policy and this latest run-up in the metals has been a fluke. Count yourself lucky and divest yourself of all precious metal holdings NOW, whether physical, paper or miner equities.
GET OUT OF GOLD AND SILVER NOW BEFORE THE COLLAPSE! GOLD WILL BE AT ~$450 BY YEAR'S END AND SILVER IS LIKELY TO DROP TO $4/OZ. OR SO.
