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Anyone investing in precious metals?

Discussion in 'BlackHat Lounge' started by bdmedia, Jul 15, 2010.

  1. bdmedia

    bdmedia Jr. VIP Jr. VIP Premium Member

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    Anyone here investing in precious metals such as gold? And if so, how are things going? I see that gold is around $1200 an ounce now and projected to be at $5000 within 5 years. USD has yearly inflation rate of around 3%, and bank accounts only yield around 2% yearly interest these days. meaning you actually will lose money by just letting it sit in a savings account. I am not trying to turn this into a investing thread, just a thread with people reviewing their methods of buying gold. Are you guys use services such as goldmoney who hold the actual gold for you? or are you buying actual gold bullion and bars?
     
  2. bdmedia

    bdmedia Jr. VIP Jr. VIP Premium Member

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    You don't think gold will reach anywhere near the 5k range? Really gold has nowhere to go but up. It's based on the strength of the USD, and with inflation being as high as it is it is nearly impossible for gold to drop back down below 1k.

    I actually would like to have the physical bullion... that way I can look at it, and it can make me feel like a real asset :) ha.
     
  3. PlatinumPi4u

    PlatinumPi4u Junior Member

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    There are affiliate programs for selling metals on GAN..
     
  4. KBC-12

    KBC-12 Regular Member

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    I would be if I could. You are right about buying physical gold. go to GATA . com and king world news .com a few months back they were breaking a story on how these financial institutions that have paper gold assets really dont have as much in their reserves as they say. The ratio is 100:1. For every 100 ounces that they claim they have in gold in their reserves they have only 1 ONCE.

    If you cant find those long interviews on the radio station site let me know, I think I still have them on my HD.

    SO yeah, you are right in thinking physical. Also, two things to keep in mind when selecting a company to buy from. Anonymity and the company's handling of shipping records is a factor when considering confiscation possibilities.

    Here is Bill Murphy's testimony at the CFTC hearing in London (I believe) on how JPmorgan Chase & others manipulate the precious metals markets. If you look you can find full versions on there but this is the short version.


    http://www.youtube.com/watch?v=e9bU0r6JP4s&playnext_from=TL&videos=i58IsFORE1o
     
    Last edited: Jul 16, 2010