Why it's important to understand gold/silver and the economy

Discussion in 'Off Topic' started by machiasmort, Jul 28, 2009.

  1. machiasmort

    machiasmort Active Member

    Many people agree that the outlook overall for our US economy is not good. I've started this thread because many have heard me preach about saving 1982 and prior pennies. I've been subject to a few ribs for it but I can take it! LOL. My sole and only goal here is to look out for the best interests of my Brother's here. Even if I argued with them!

    Jefferson was against the federal reserve for a reason! He's currently on our $2.00 bill, surprised they still honor him! This article I came across explains Government hatered toward Gold and Silver tradding in the physical (non eletronic). I feel the author could have done a little better job explaining things, but being the intellegent group we are here, I think most of you guy's will see whats going on. By the end of this read you will begin to understand why our Government allows the manipulation of metal prices. (to keep them low)! They are doing this by allowing electronic tradding and the big banks to get involved. Wether you agree or not that our economy will collapse is trivial. The notion it almost did once already is FACTUAL. What's in your wallet?

    http://www.321gold.com/editorials/sanders/sanders072809.html

    Please read this whole article, might seem borring but it taught me a few things and is one of the better I've see on the history of gold and silver backed currency!
     

  2. arceeguy

    arceeguy Active Member

    If things ever get that bad, precious metals will be as useful as titz on a turtle.

    A few days after Katrina hit NO, wouldn't you have traded a bar of solid gold for some water and MRE's?

    While it is OK to have some precious metals in your investment portfolio as a hedge against inflation, they traditionally haven't been a good long term strategy. The gold sellers are making a fortune off of fear.
     
  3. machiasmort

    machiasmort Active Member

    Well the thing is AG, if our economy craps, metals will still hold a value in other world wide currencies. There's a serious shortage of silver and gold now and the mint has quit producing Eagles. More so silver!

    Sure they are selling fear, but there is reason to be affraid! Don't put metals into your portfolio! You need them in your hand or safety deposit box!!! They are being manipulated by the electronic traders.

    Silver and gold didn't go up in value the past 2yrs., They cost more because our dollar is worth less!
     
  4. SimpleSimon

    SimpleSimon Active Member

    In a safe deposit box?

    Are you willfully blind, Marty? Who has manipulated our economy into near ruin? Bankers/financial professionals, that's who. Where are safe deposit boxes found? In banks, mostly - institutions run by bankers. Putting your treasure in a bank is offering it up for seizure.
     
  5. Turtle Tedd

    Turtle Tedd Member

    There are methods used by the military to bury things ....pvc pipe, CA glue ,and some welding gas such as nitrogen or oxygen, or small cans of Bloxigen,to displace all oxygen in the tube...will accomplish this task.
     
  6. machiasmort

    machiasmort Active Member

    I've got a friend who knocked holes in his drain tile and installed bars of gold before concreting back over. Idea is that in a fire, they'd never melt and a thief? What lazy ******* thief would ever want to do that much work?
     
  7. kerf

    kerf Guest

    What an ingenious idea, by the way, what's his address?
     
  8. machiasmort

    machiasmort Active Member

    LOL! Got yourself a chipping hammer?
     
  9. machiasmort

    machiasmort Active Member

    OK, there was some wise cracker who got in there in the old posts and insinuated that I didn't know anything about the economy. All I'll say is show me a 67.8% return on anything you've traded and you'll shut me up. Till then, eat mud...

    Copper is currently $16.78 on $10 worth of pre1982 pennies! Out performing Wall Street. Got to love old Abe!

    Short term, I'd sell now. Long term, I'd hold and make big!
     
  10. machiasmort

    machiasmort Active Member

    ------Update------Copper is currently $17.98 on $10 worth of pre1982 pennies!

    Hey, Henry, Yes Gertrude, Looks like that ole stihl in the barn is finnaly worth somethin. But that was your Uncles wedding present to us...
     
  11. SimpleSimon

    SimpleSimon Active Member

    I'm looking at a piece of property hereabouts that is going up for tax sale soon. Louisiana law is bizarrre - if you purchase a property at tax sale, the original owner has one calendar year to come back, pay the taxes and late fees, and recover title - all you get back is the mobies you paid at the tax sale. So, best thing to do is to hold the property for one year before beginning any renovations/improvements.

    The property I am looking at is 3/8 of an acre with a 1,600 sq ft home on it, with a full basement that has a single car garage door in one end, and a framed-in garage space. The rest of the basement is one big room with three lally columns down the center. The house above burned out, from the end opposite the garage door in the basement, but the fire never penetrated the flooring - it did destroy about half of the back wall, and damaged every room in the ground floor.

    The footprint is 32 x 50, and the ground floor was brick veneered. I've walked all around the place, and all of the plumbing in it is solid copper. Since the drain stack and the incoming water supply line, plus the gas meter and the electric service hookup are all alongside the garage door, pulling all the plumbing and all the wiring should result in several hundred pounds of copper, which will help defray the costs. Best part is, I can pull that plumbing and wiring without waiting the full year, and if the original owner comes back, I owe him nothing for removed materials as part of a demolition/renovation project.

    I want to pull the structure down to the bare floor, and put a simple gable roof on that, and just live in the basement space. Done properly, with lots of insulation in the ceiling crawl space above the existing floor, utility costs for cooling are minimal, and around here heating costs in an earth-tempered structure are essentially nil.

    Plus, all those used bricks make good building material for an interior double-laid wall.
     
  12. arceeguy

    arceeguy Active Member

    I'll keep my pre 1982 pennies as collectors items when things get better. Mine will be the few that Marty didn't melt in his backyard foundry. They'll be worth a small fortune.
     
  13. kerf

    kerf Guest

    I wonder if the Mortster is checking collector value before burning those penny's. Be bad to melt a $50 coin as part of a $17 lump of copper.
     
  14. SimpleSimon

    SimpleSimon Active Member

    My question is, how much gas does he burn to melt that copper?
     
  15. arceeguy

    arceeguy Active Member


    shhhhhhhh! :p

    I had previously linked to a waste oil furnace, so if he can scrounge up an old oil oil burner unit, he can melt them down for next to nothing. His local bank might get suspicious though, and destroying currency may be a federal offense. :whistling:
     
  16. kerf

    kerf Guest

    $10 in penny's, $35 in gas to find the pennies, $15 worth of fuel to smelt the pennies, about 6 hours total time spent, revenue of reclaimed copper $17.98.

    $10+$35+$15=$60 $60-17.98= ($42.02) Total revenue. Hourly income ($42.02)/6= ($7.00) per hour. Maybe he can make it up on volume???????
     
  17. fasteddy

    fasteddy Member

    Titz on a turtle. Thats fresh.

    Steve.
     
  18. Turtle Tedd

    Turtle Tedd Member

    I don't have any titz
     
  19. fasteddy

    fasteddy Member

    I may be out of step here but as much as melting pennys makes me want to get a fire going, I would wonder if the person with barrels of rice, flour, pasta ect, plus a supply of water might be a whole lot richer in the long run.

    Gold and silver would help because the whole world recognizes them as a valuble commodity. Gems wouldn't be bad either.

    If melting pennies helps get you there what's wrong. Coal or charcoal will help melt the metal and a blower makes it even faster.
    I used to use my small forge. Didn't use pennys though because it is illegal to deface currency but the argument is, it isn't if they don't catch you at it.

    Steve.
     
  20. fasteddy

    fasteddy Member

    Tedd, thats you story and please no video. LOL

    Steve.
     
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