Author Topic: paper money worthless?  (Read 5723 times)

0 Members and 1 Guest are viewing this topic.

Offline White Israelite

  • Ultimate JTFer
  • *******
  • Posts: 4535
paper money worthless?
« on: March 16, 2009, 02:31:33 PM »
I was watching this video.



Anyone know where I can invest in gold and silver?

Online Chaim Ben Pesach

  • Administrator
  • Silver Star JTF Member
  • *
  • Posts: 5772
Re: paper money worthless?
« Reply #1 on: March 16, 2009, 03:10:36 PM »
Please give me plenty of that worthless paper!

BTW, investing in gold and silver also involves risk. The value fluctuates constantly.

Online Confederate Kahanist

  • Gold Star JTF Member
  • *********
  • Posts: 10771
Re: paper money worthless?
« Reply #2 on: March 16, 2009, 03:45:57 PM »
At this point, I think were better off investing money in unpasteurized milk than keeping it in dollars the way things are going.
Chad M ~ Your rebel against white guilt

Offline mdub

  • Junior JTFer
  • **
  • Posts: 86
Re: paper money worthless?
« Reply #3 on: March 16, 2009, 04:45:16 PM »
gold isn't safe. the government has been know to confiscate it if times get really tought (happened before).

Further, the vast majority of gold is owned by a very small group of people. if they decide to dump it into the economy again one day your gold will plummet.

there is only one safe investment: investing in your own marketable SKILLS. As long as you know how to provide value to others you'll make money no matter what currency we use.

in other words: learn to do something people are willing to pay for.


« Last Edit: March 16, 2009, 04:50:35 PM by mdub »

Offline mord

  • Global Moderator
  • Platinum JTF Member
  • *
  • Posts: 25853
Re: paper money worthless?
« Reply #4 on: March 16, 2009, 04:47:35 PM »
I was watching this video.



Anyone know where I can invest in gold and silver?
my brother has invested in gold made alot.He still has his brochure
Thy destroyers and they that make thee waste shall go forth of thee.  Isaiah 49:17

 
Shot at 2010-01-03

Offline New Yorker

  • Ultimate JTFer
  • *******
  • Posts: 2694
Re: paper money worthless?
« Reply #5 on: March 16, 2009, 05:16:55 PM »
gold isn't safe. the government has been know to confiscate it if times get really tought (happened before).

Further, the vast majority of gold is owned by a very small group of people. if they decide to dump it into the economy again one day your gold will plummet.

there is only one safe investment: investing in your own marketable SKILLS. As long as you know how to provide value to others you'll make money no matter what currency we use.

in other words: learn to do something people are willing to pay for.




There will be high demand for the fundamentals if/when things really go to sh*t; skills like mechanics, electricians, plumbers will be in demand. Learn at least one, if for nothing else than self sufficiency.
Nuke the arabs till they glow, then shoot them in the dark.

Offline Rubystars

  • Gold Star JTF Member
  • *********
  • Posts: 18307
  • Extreme MAGA Republican
Re: paper money worthless?
« Reply #6 on: March 16, 2009, 07:58:31 PM »
I tried to tell people in another thread that gold is a terrible investment but people aren't that interested in hearing that, especially when the goldmongers are advertising on every conservative talk radio program out there.

Offline cjd

  • Silver Star JTF Member
  • ********
  • Posts: 8996
Re: paper money worthless?
« Reply #7 on: March 16, 2009, 08:19:20 PM »
I tried to tell people in another thread that gold is a terrible investment but people aren't that interested in hearing that, especially when the goldmongers are advertising on every conservative talk radio program out there.
If the gold was bought at a low point in the market it might not be a bad short term investment. Right now the companies that are advertising gold cant even supply the actual gold but are selling gold securities. I think the dollar is still the main player in the game. During the last depression it was made illegal to own gold unless it was jewelry or collectible coins.
He who overlooks one crime invites the commission of another.        Syrus.

A light on to the nations for 60 years


Offline JewishAmericanPatriot

  • Pro JTFer
  • *****
  • Posts: 568
Re: paper money worthless?
« Reply #8 on: March 16, 2009, 08:24:48 PM »
I was watching this video.



Anyone know where I can invest in gold and silver?

http://www.pandaamerica.com

http://www.usagold.com

http://www.monex.com

And for trading info: http://www.goldismoney.info

BEFORE you do ANY purchasing, read: "Precious Metals Investing for Dummies".
JOIN THE ANTI-OBAMA RESISTANCE!

America's Last Stand: http://americaslaststand.angelfire.com

SAVAGE INGRATITUDE: http://www.savageingratitude.com

Offline White Israelite

  • Ultimate JTFer
  • *******
  • Posts: 4535
Re: paper money worthless?
« Reply #9 on: March 16, 2009, 08:27:09 PM »
I was watching this video.



Anyone know where I can invest in gold and silver?

http://www.pandaamerica.com

http://www.usagold.com

http://www.monex.com

And for trading info: http://www.goldismoney.info

BEFORE you do ANY purchasing, read: "Precious Metals Investing for Dummies".

I heard Monex was a scam.

Offline JewishAmericanPatriot

  • Pro JTFer
  • *****
  • Posts: 568
Re: paper money worthless?
« Reply #10 on: March 16, 2009, 08:28:13 PM »
They're not a scam, they are one of the most widely-respected brokers around.
JOIN THE ANTI-OBAMA RESISTANCE!

America's Last Stand: http://americaslaststand.angelfire.com

SAVAGE INGRATITUDE: http://www.savageingratitude.com

Offline Zionist Revolutionary

  • Pro JTFer
  • *****
  • Posts: 818
Re: paper money worthless?
« Reply #11 on: March 16, 2009, 08:57:29 PM »
Please give me plenty of that worthless paper!

Hahah, please everyone do this! JTF is in desperate need of paper :D

Offline White Israelite

  • Ultimate JTFer
  • *******
  • Posts: 4535
Re: paper money worthless?
« Reply #12 on: March 16, 2009, 10:37:56 PM »
They're not a scam, they are one of the most widely-respected brokers around.

Here's the thing I saw about it.


Offline the thing

  • New JTFer
  • *
  • Posts: 7
Re: paper money worthless?
« Reply #13 on: March 17, 2009, 02:32:01 AM »
I am very close to a senior lecturer who specializes in economics and he told me that about a year ago he started selling off his shares in stocks that went bad (how he knew I don't know), he also added that gold prices are being intentionally suppressed to hide the true fall of the dollar and English sterling. Also here in the UK they have started printing more money, so I get the feeling that the money people have saved could become worthless.

Offline Xoce

  • Master JTFer
  • ******
  • Posts: 1036
Re: paper money worthless?
« Reply #14 on: March 17, 2009, 02:51:46 AM »
Please give me plenty of that worthless paper!
(snip)


 :::D :::D :::D
aka Someone Else

Offline Zelhar

  • Honorable Winged Member
  • Gold Star JTF Member
  • *
  • Posts: 10687
Re: paper money worthless?
« Reply #15 on: March 17, 2009, 11:48:24 AM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Offline JewishAmericanPatriot

  • Pro JTFer
  • *****
  • Posts: 568
Re: paper money worthless?
« Reply #16 on: March 17, 2009, 02:13:19 PM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Right now, my bank accounts are hardly paying any interest at all....in my view, I'd rather take it out and convert it to gold (which safeguards my money in case the dollar becomes worthless, as it is headed toward), than get 12 cents interest per month on 4K. KWIM?

I'm not concerned about the interest because right now my money, if it sits in the bank, benefits the bank FAR more than it benefits me right now.

As for Monex, I have never dealt with them but I know people who have. I find APMEX and USAGOLD to be very good.
JOIN THE ANTI-OBAMA RESISTANCE!

America's Last Stand: http://americaslaststand.angelfire.com

SAVAGE INGRATITUDE: http://www.savageingratitude.com

Offline briann

  • Silver Star JTF Member
  • ********
  • Posts: 8038
  • Mmmm HMMMMM
Re: paper money worthless?
« Reply #17 on: March 17, 2009, 02:56:31 PM »
I think I went over this with you before... but in case I didnt.  Maybe I'll post this later as well.

Try to diversify.   I would NEVER put ALL of your money in Gold... thats just too dangerous.  Gold can halve its value in the blink of an eye.  (Yes, it can double too, but its VERY volatile).

I wouldnt put more than 30% of your savings in it... and even that is quite a bit. You might want to consider Gold-mining companies.

I would split the remainder into physical cash, possibly a few CD's.

You might even look into a Chinese ETF (Exchange traded Fund) index.  There are a few that have very low fees.

Finally... if you think everything is going to go back to normal pretty soon.. .then obviously the stock market is a good investment.  PERSONALLY... I think its not even close to the bottom right now..... but that is merely a guess based upon what I think will happen over the next year.

________________________________________________________________________________

There are different scenarios that could happen, where it WOULD be smart to have Gold.  Here they are:

1)  Obama could return to the policies of Carter/Volkner (Id give this a 25% probabillity, Obama idolizes Volkner) (IE stagflation)

Under the Volcker Fed in the late ’70s and early ’80s. Instead of crushing inflation, they pumped it up. Instead of bringing on the recession...they tried to hold it off.  This caused stagflation... which alwasy makes things worse.  Japan tried to do this as well for a short while, and they found it just kept them in their recession and pushed off their reckoning a bit.

In this case... Your physical cash loses its value... and you'd want to reduce this portion.  However, Your CD's (Assuming they are diversified, lattered) would have to adjust to this new inflation... otherwise, NO ONE will put their money in these CD's.  HOWEVER... you STILL will probably be LOSING value on your CD's.  (When this happened in the late 70's early 80's  Bonds, Bills, etc, HAD to pay out double digit interest rates in the short term... OTHERWISE NO ONE would buy them.

Gold or those Chinese ETF's would be the best bet in this type of situation... but again... Gold will STILL have the risk to plummet... even in this situation so you STILL dont want to put ALL of your money in it.

Or if you want to gamble... you can try to buy a long-term bond... and assume that everything will get better really soon... and you will be like those lucky investors in the mid 80's who had 12% interest paying bonds for long periods of time.

2)  Our Banks could start collapsing on a massive scale.   (Id give this a 5% probability and it wouldnt happend until 2011 at the earliest) (IE deflationary spiral)

Obama instituting stagflation can increase this risk.  Inflation along with absurdly high debt levels may push China to start dumping our Debt, and removing its peg with the US dollar altogether in order to protect itself... at this point... we will essentially become insolvant... (Like Argentina).    (China has already started warning us NOT to make their holdings anymore risky)

This will cause a bank panic that Obama will find it IMPOSSIBLE to bailout.   Even if the fed continues to pump MASSIVE amounts of cash (Which it will), it WONT be able to stop this... only postpone it a few months or weeks.  Americans will frantically try to get their money out of the banks.  When the dust settles... our money supply will completely collapse and we will be bankrupt with NO possibillity of anyone bailing out our banks.

with this scenario... Gold is a good investment... HOWEVER at the end of it all... we will be in a depression that could last DECADES!!!!  So I would also suggest Ammunition and even non-perishable food.

(I would let you guys all know if I saw definite warning signs that this could happen)
« Last Edit: March 17, 2009, 03:06:30 PM by briann »

Offline Zelhar

  • Honorable Winged Member
  • Gold Star JTF Member
  • *
  • Posts: 10687
Re: paper money worthless?
« Reply #18 on: March 17, 2009, 02:57:32 PM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Right now, my bank accounts are hardly paying any interest at all....in my view, I'd rather take it out and convert it to gold (which safeguards my money in case the dollar becomes worthless, as it is headed toward), than get 12 cents interest per month on 4K. KWIM?

I'm not concerned about the interest because right now my money, if it sits in the bank, benefits the bank FAR more than it benefits me right now.

As for Monex, I have never dealt with them but I know people who have. I find APMEX and USAGOLD to be very good.

The Dollar isn't going to be worthless, it might be devalued but then again so does gold. Just take a look of the Gold value through the last 40 years or so (since the end of the gold standard). IMO for purpose of saving and investment, Stocks and Bonds beats gold. Gold is supposed to protect you from inflation, but it is not a real investment asset since it produces no earning.

Offline briann

  • Silver Star JTF Member
  • ********
  • Posts: 8038
  • Mmmm HMMMMM
Re: paper money worthless?
« Reply #19 on: March 17, 2009, 03:04:44 PM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Right now, my bank accounts are hardly paying any interest at all....in my view, I'd rather take it out and convert it to gold (which safeguards my money in case the dollar becomes worthless, as it is headed toward), than get 12 cents interest per month on 4K. KWIM?

I'm not concerned about the interest because right now my money, if it sits in the bank, benefits the bank FAR more than it benefits me right now.

As for Monex, I have never dealt with them but I know people who have. I find APMEX and USAGOLD to be very good.

The Dollar isn't going to be worthless, it might be devalued but then again so does gold. Just take a look of the Gold value through the last 40 years or so (since the end of the gold standard). IMO for purpose of saving and investment, Stocks and Bonds beats gold. Gold is supposed to protect you from inflation, but it is not a real investment asset since it produces no earning.

We went off the gold standard in 1933.  (thats 76 years ago)  I think you are thinking of when we stopped pegging our money to gold.

Offline Shlomo

  • Administrator
  • Silver Star JTF Member
  • *
  • Posts: 5212
  • SAVE ISRAEL!
Re: paper money worthless?
« Reply #20 on: March 17, 2009, 03:07:09 PM »
Please give me plenty of that worthless paper!

That made me laugh out loud.

I want some worthless paper too!
"In the final analysis, for the believer there are no questions, and for the non-believer there are no answers." -Chofetz Chaim

Offline Zelhar

  • Honorable Winged Member
  • Gold Star JTF Member
  • *
  • Posts: 10687
Re: paper money worthless?
« Reply #21 on: March 17, 2009, 03:36:52 PM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Right now, my bank accounts are hardly paying any interest at all....in my view, I'd rather take it out and convert it to gold (which safeguards my money in case the dollar becomes worthless, as it is headed toward), than get 12 cents interest per month on 4K. KWIM?

I'm not concerned about the interest because right now my money, if it sits in the bank, benefits the bank FAR more than it benefits me right now.

As for Monex, I have never dealt with them but I know people who have. I find APMEX and USAGOLD to be very good.

The Dollar isn't going to be worthless, it might be devalued but then again so does gold. Just take a look of the Gold value through the last 40 years or so (since the end of the gold standard). IMO for purpose of saving and investment, Stocks and Bonds beats gold. Gold is supposed to protect you from inflation, but it is not a real investment asset since it produces no earning.

We went off the gold standard in 1933.  (thats 76 years ago)  I think you are thinking of when we stopped pegging our money to gold.

Right, I meant to the Bretton Woods system.

Offline Zelhar

  • Honorable Winged Member
  • Gold Star JTF Member
  • *
  • Posts: 10687
Re: paper money worthless?
« Reply #22 on: March 17, 2009, 03:46:10 PM »
I am sure Obama would like to combine all the bad aspects of Roosevelt, Johnson, and Carter, and spice them with his own wicked plans. 

Offline briann

  • Silver Star JTF Member
  • ********
  • Posts: 8038
  • Mmmm HMMMMM
Re: paper money worthless?
« Reply #23 on: March 17, 2009, 04:42:25 PM »
Gold is not a good substitute to cash. It pays you no interest and fluctuates violently. Don't you have inflation pegged bonds or saving accounts in the US ? Not that I recommend these either.

Yes of course we do.  They are called T.I.P.S.  They are quite popular.  Right now they are paying about .5% for a year maturity, since inflation is effectively zero right now.






Offline JewishAmericanPatriot

  • Pro JTFer
  • *****
  • Posts: 568
Re: paper money worthless?
« Reply #24 on: March 18, 2009, 12:00:59 AM »
I've only put about 10% of my money into gold, and 10% into silver. The rest is still in cash only because I didn't want to buy anything else until prices go down.

FTR I do not intend to sell any of my precious metals, so whether the price goes up or down in my lifetime means nothing to me.

I'm putting my (spare) money into PMs so as to leave a guaranteed inheritance for my children (if its in PM's and not bank accounts, nursing homes/Medicaid can't get it if I end up there).

That way, whether I end up in a nursing home or not, my kids' inheritance remains safe.

(I know at 49 I'm too young to be thinking like this, but over the past year I had to take care of two elderly relatives and I got to see the nursing home/medicaid thing from the inside, so I learned I need to start early to safeguard assets.) This way, if I preserve enough of my spare cash in gold/silver for my kids, I avoid the medicaid 5 year lookback period by starting at age 49.)
JOIN THE ANTI-OBAMA RESISTANCE!

America's Last Stand: http://americaslaststand.angelfire.com

SAVAGE INGRATITUDE: http://www.savageingratitude.com