Silver & Gold is about to Explode! Bank Holiday warnings.....

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Silver & Gold is about to Explode! Bank Holiday warnings.....

I put emphasis on Silver as news is, silver will run out in 2020!  This according to the Wall street Journal. Also according to Bob Chapman, embassy's around the world are exchanging their dollars for other currencies. Warnings of a bank holiday also.

http://goldbasics.blogspot.com/2009/07/silver-to-become-extinct-by-2020-...

 

http://goldbasics.blogspot.com/2009/07/position-limits-on-silver-will-tr...

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Gold thoughts:

The Federal Reserve may have to monetize a half trillion dollars of U.S. debt in coming months. That flood of dollars can only send the value of the U.S. dollar down on foreign exchange markets. With that development will come a renewal of the bull market in $Gold. The Federal Reserve and the Obama Regime may be only months away from making  $1,000 the new floor for $Gold

http://www.financialsense.com/editorials/schmidt/2009/0720.html

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Three institutions that don't want you to own Gold

http://www.theaureport.com/pub/na/2817

 

Eventually we expect even O.P.E.C. to accept Yuan in payment of oil!

The downward pressure on the dollar is inevitable and we believe such a depreciation has been accepted by the Chinese. The moves to resurrect the S.D.R. are part of this acceptance and an attempt to avoid the dollar’s depreciation. There will simply be far more U.S. dollars internationally than are needed, so the only way to avoid suffering from the dollar’s fall is to diversify, via the S.D.R. into other currencies. If China can replace the U.S. dollar with newly composed S.D.R.’s they can protect the buying power of their huge [$1.95 trillion] reserves, at least to some extent!

http://www.theaureport.com/pub/na/2816

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Re: Silver & Gold is about to Explode! Bank Holiday ...

I couldn't let you be the only one posting on your own thread, Investorzzo, so I'll say thanks for the links that I can't wait to read in a few minutes after I go downstairs and get something to drink!

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Real Money, video

http://gata.org/goldrush21

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Re: Silver & Gold is about to Explode! Bank Holiday ...

 The goldrush21 presentation on dvd (youtube/torrent) was the eye opener for me. So much stuff that makes sense. I advise everyone to see it because then you will realize that what we are experiencing now was known years ago.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Bob Chapman talks about the markets and Gold, silver. Bank holiday.

http://bobchapman.blogspot.com/2009/07/bob-chapman-gold-at-2000-and-doll...

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Re: Silver & Gold is about to Explode! Bank Holiday ...

http://www.financialsense.com/fsu/editorials/willie/2009/0723.html

If truth be known, the Chinese Govt is working overtime to unload their USTreasury Bonds and USAgency Mortgage Bonds, spending them in Africa, Latin America, Asia, Australia, the Middle East, even Europe.

Bank holiday plan execution must be kept as surprise, since reactive preparations undermine the impact of the vast theft planned, both overt (from devaluations) and hidden (from stolen accounts). Those who wait to take action lose all opportunity to benefit, and will surely lose significantly. The major central banks are very likely accumulating gold bullion on a net basis.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

What Will It Take for Gold to Overcome $1,000 .

My vote is for senario number 3.

http://www.theaureport.com/pub/na/2831

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Re: Silver & Gold is about to Explode! Bank Holiday ...

So I'm still trying to figure this stuff out ! I hear the rumors of a Bank Holiday , Dollar collapse etc. etc. What I'm trying to figure is how to protect what little cash reserves I have and not get stuck with worthless dollars ! I have bought some gold and silver , and have a few months supply of dollars at hand . My question is what would you do with the money you now have in a  US Bank or Credit Union .We have about a years worth of funds in US dollars in our Bank and Credit Union . I am currently unemployed so we draw on it from time to time . Any idea guys and girls ? I have got to go get my dog from the vet , Hopefully you guys can solve this for me before i return

 

Thanks

Harvey

 

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Re: Silver & Gold is about to Explode! Bank Holiday ...
Harvey wrote:

So I'm still trying to figure this stuff out ! I hear the rumors of a Bank Holiday , Dollar collapse etc. etc. What I'm trying to figure is how to protect what little cash reserves I have and not get stuck with worthless dollars ! I have bought some gold and silver , and have a few months supply of dollars at hand . My question is what would you do with the money you now have in a  US Bank or Credit Union .We have about a years worth of funds in US dollars in our Bank and Credit Union . I am currently unemployed so we draw on it from time to time . Any idea guys and girls ? I have got to go get my dog from the vet , Hopefully you guys can solve this for me before i return Thanks,Harvey

 

No 1  pay off as many debts as possible.

No 2  Have two months suppy of food.

No 3  Do you own a gun?

No 4 You might consider paying bills a few months ahead.

No 5 Keep some cash, but try and convert the rest to other currencies or Gold.

No 6 grow your own garden.

All of these things are just ideas. So do what is best for you. I can only speak for myself. Good luck.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Thanks for the advice , any and all ideas are welcome . Lets #2 is covered, #3 & #5 as well. Not sure were to but a garden on my postage size lot.  What other currencies are best and any one else undertake this action. Not sure how to start. Should I go to may local bank and say give me all my money in Australian dollars ? Now about #1 , why would I worry about paying off dept ? With being unemployed my train of thought has been to try to maintain capital . Maybe not the best approach ? lots to think about, I think right now I'll get a glass of wine !

 

Harvey

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Re: Silver & Gold is about to Explode! Bank Holiday ...

So, I did some more research on this today . I'm thinking the best way to protect my dollar is to open up a Mutual Fund like

The Merk Asian Currency Fund   http://www.merkfund.com/fund/ . I just need to do a little more research to understand how quickly I can access the money when needed . Any thoughts ?

 

 

Harvey

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Harvey,

I've bought through my bank 5% of my cash in Yen and Yuan and another 5% in the Swiss Franc.  I wouldn't pay off debt, doesn't make sense as debt in dollars will stay the same.  Any HARD asset/commodity is worth investing.  Buy more Silver than Gold at this time.  It's likely to increase in value more than Gold IMO.  Putting dollars into a mutual fund even if it's invested in foriegn exchanges, it's still valued in dollars.  Have enough cash on hand to pay what debts you have over a month period of time and make sure the cash is in bills no larger than $20 as change may be hard to come by.  Invest a bit in change/coins/quarters/nickels.  The metal value is more than the face value.  Hope this helps.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

LogansRun you make some good points . I have some cash on hand , been getting 50's ,maybe need to get some smaller amounts though. I did some gold awhile ago , but have been buying only silver as of late. As to your point on the Mutual fund , even if it is valued in dollars my thought was if and when the dollar falls , my base value would be protected in a foreign currency (like if I used a currency fund and bought x amount of Yen ) . Is that not correct ? So the Yen , Yuan and Swiss Franc did you take deliver of them  ? I see it a couple of ways . I need access to my money over time , but at the same time I want to protect it from what ever my be coming , so hold it in some from that well not lose too much value (if it increases all the better ) and keep it from Big Brother ! Thanks for your thoughts

 

Harvey

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Will the top U>S> banks be forced to cover large, short gold positions?  Anyone a subscriber.

http://www.financialsense.com/editorials/phillips/2009/0724.html

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Harvey, as for the mutual fund "yes" if it's invested in nothing but foriegn exchange/currency it will increase in value.  The one aspect that I don't like about mutual funds or any other investment engine of that type is that you have no control of the spreads at which they are being sold.  Yes, you can indicate what price you want to buy and sell but it's no guarantee that it will occur in that manner.  I also don't like giving my money to a fund in which they are making money by loaning it out to someone else at interest.  But again, that's my personal problem.haha

As for the foreign currency, "yes" I took posession.  You can go online to your bank and buy the currency and pick it up at your local branch with no fee.  If your bank can't do it, BofA will on their website.  http://www.bankofamerica.com/foreigncurrency/

Hope this helps.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Gold update: charts. Seasonal sweet spot.

http://www.financialsense.com/fsu/editorials/gofsky/2009/0724.html

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Re: Silver & Gold is about to Explode! Bank Holiday ...

In the first hour of Financial Sense's newshour Steven Hochberg of Elliot Wave predicted that metals, oil and other commodities will continue to go up with the markets, but when the markets peak and head down, the rest will go down too, until the USD bottoms, then metals and commodities will take off.  At least, I think that's what he's saying.  Any thoughts?

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Re: Silver & Gold is about to Explode! Bank Holiday ...
Doug wrote:

In the first hour of Financial Sense's newshour Steven Hochberg of Elliot Wave predicted that metals, oil and other commodities will continue to go up with the markets, but when the markets peak and head down, the rest will go down too, until the USD bottoms, then metals and commodities will take off.  At least, I think that's what he's saying.  Any thoughts?

Doug, as you will find in the markets; everyone has an opinon on whats going to happen. My advice is to take the longterm approach. Keep buying monthly or how ever you can.  Eventually the truth will come out about the manipulation and gold will go up with deflation or inflation. Copper is also rising in price. How ever they manipulate the prices "short term", they cannot stop the inevitable. We are bankrupt.! The powers to be (wall street, Fed, Government) cannot fool the rest of the world. To bad so many Americans are so easily fooled. But the dumbing down of the country has worked so far. People need to stop watching TV and video games, and focus attention on the greatest Crime of the Century!

 End the Fed!

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Re: Silver & Gold is about to Explode! Bank Holiday ...

321gold.com founder Bob Moriarty never fails to get a rise out of The Gold Report readers, simultaneously raising hackles and awareness. In this interview, his fifth with us since last November, he rails against continuing business, media and government shenanigans. He prophesizes bankruptcy, riots and revolution. But he also sees a bit of silver lining in the thunderheads, predicting “a lot of surprises to the upside” in the resources sector.

The Gold Report: Just reading the papers today, we’re seeing lots of interesting news. We see GM has come out of bankruptcy, we see Goldman Sachs, BofA and Citigroup all recording record profits. We’re even hearing, in some cases and some places that home sales are increasing. What is going on?

Bob Moriarty: That’s an example of how total the distortion is in the news media in the United States. First of all, 96% of the news media is controlled by six people. Their vested interest is not in telling the truth; their vested interest is in selling products. What we call the news media is really better termed a propaganda media. It’s all propaganda.

Let’s take, for example, year-on-year railway shipping of automobiles is down 49%. Nobody in creation could honestly believe that GM is in better shape now than they were a few weeks ago. Coming out of bankruptcy is a legal maneuver; it’s not a financial maneuver. They’re out of bankruptcy; it’s perfectly true and perfectly meaningless at the same time. The government now controls GM.

As negative as I am toward American management in business today, the only people who are far worse would be government bureaucrats. For example, in mid-July I saw Paulson’s testimony about how they threatened bankruptcy when BofA’s negotiations with Merrill Lynch almost came unglued. Bank of America President Lewis didn’t take care of his shareholders, which he has a legal obligation to do. He pandered to the government and Paulson said, “We’ll just replace you.” Since when did we become a communist society or socialist society? It’s no longer capitalism; it’s government control of industry.

On one hand, we’ve got the financial system totally controlled by Goldman Sachs. On the other hand, we’ve got government control of Chrysler and GM and major segments of the economy. We have the worst of all possible worlds.

As to the record profits you mention, we’re in a depression. If these guys are making money, it’s because they’re manipulating the markets and stealing from the taxpayers. There’s a difference.

http://www.theaureport.com/pub/na/2866

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Michael Maloney on Nationalization

http://goldsilver.com/player/id/66/cID/2/?ss=77264882d010902c52f13391d6a...

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Bank Holiday revisited: Max Keiser

http://maxkeiser1.blogspot.com/

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Re: Silver & Gold is about to Explode! Bank Holiday ...

"Gold is performing strongly at the same time the stock market is making a mild rally and as the dollar continues to stay at a level that we consider to be inordinately high," Doyle says. "Typically, gold would be declining - but that's not happening, and there are solid reasons why."

"http://www.mineweb.co.za/mineweb/view/mineweb/en/page31?oid=87109&sn=Detail

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Re: Silver & Gold is about to Explode! Bank Holiday ...

MARKET FORCE - SILVER

Look what happened to rhodium two years ago; it went from $300.00 to $10,000.00 an ounce, and most people probably don’t even know that. It certainly didn’t get on the front page of The Wall Street Journal.

 

http://www.financialsense.com/editorials/morgan/2009/0807.html

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Re: Silver & Gold is about to Explode! Bank Holiday ...
Gold and Europe's Central Bankers

 

http://globalresearch.ca/index.php?context=va&aid=14717

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Re: Silver & Gold is about to Explode! Bank Holiday ...

 I am amazed at the difference from 9 months ago. My local coin dealer had nothing at all and now they have bins of every kind of gold bullion, collectible, you name it, so full that the pieces are falling on the floor. They tell me that they have had many sellers, believing the price has peaked and will crash now that the "recession is over". They told me a few " doomers " were still buying here and there. Interestingly, they have a gun shop also and it is not crowded like in the winter, everyone scrambling for an AR. I was finally able to get 45 and 9 mm ammo. They tell me people aren't worried anymore. Apparently, everything is going to be fine. That is what they saw on the news after all. The government has pulled it off and here we go back to the good old days. I should say that I live in a major Texas city that has shown very few signs of recession.

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Why? Because virtually every one of the fund managers he visited is "seeking the best investment entry point [for gold]." He believes that nascent fund demand for the hard metal will take the price to the next level. Holland sees "widespread demand for capital preservation" as driving fund manager interest. "People are not even talking about getting a return," he says. "What they're asking is how they can save their capital, that's why they're going into gold, and that's going to be the mainstay of the gold price going forward."

http://www.financialsense.com/editorials/kosares/2009/0811.html

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Re: Silver & Gold is about to Explode! Bank Holiday ...

http://www.financialsense.com/editorials/casey/2009/0813.html

What You Have in Common with King Nebuchadnezzar

 

Gold cannot be…

  • Printed (ask a miner how long it takes to find it and dig it up)
  • Counterfeited (you can try, but a scale will catch it every time)
  • Deflated or inflated (it can’t be reproduced)

Gold cannot be destroyed by…

  • Fire (it takes 1945.4 degrees F to melt it)
  • Water (won’t rust or tarnish)
  • Time (a gold coin remains recognizable after a thousand years)

Gold doesn’t need…

  • Feeding (like cattle)
  • Fertilizer (like corn)
  • Maintenance (like printing presses)

Gold has no…

  • Time limit (most gold mined is still in existence)
  • Counterparty risk (remember Bear Stearns?)
  • Shelf life (it never expires)

Gold as metal is…

  • Malleable (spreads instead of crushes)
  • Ductile (stretches without breaking)
  • Beautiful (just ask an Indian bride)

Gold as money is…

  • Liquid (easily convertible to cash)
  • Portable (you can hold $50,000 in one hand)
  • Private (no mandatory reporting here)

Gold is internationally accepted, lasts for thousands of years, and best of all, they aren’t making any more of it.

 

 

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Re: Silver & Gold is about to Explode! Bank Holiday ...

Bob Prechter's predictions on PMs are quite bearish, at least in the short term.  He seems to have some data on his side.

http://finance.yahoo.com/tech-ticker/article/299368/Metal-Mania-%22Heavily-Overbought%22-Gold-&-Silver-Due-for-a-Major-Fall-Prechter-Says?tickers=GLD,SLV,GDX,FCX,NEM,PSAU,ABX

And, let's face it, PMs have not done well over the last year.  Ag has been falling and Au, at best, is stagnant.  I don't wish to make any predictions, but I don't think I'm going to be adding to my PM position any time soon.

doug

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