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Re: why are Silver sales soaring?

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  • Tue, Apr 20, 2010 - 08:23pm

    #13
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Joined: Oct 31 2017

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    Re: why are Silver sales soaring?

[quote=paranoid]

another respected guru thinks the opposite:

1. Dump your gold and silver. All of it. You can’t spend it like money because it is not money. It is a store of value only when people “believe” it has value and that is only when fiat paper money has no value in the minds of those who own it. That will be years from now. We will own gold then.

2. Hold you green back dollars. They are, overall going up and will continue to do so quite a bit this year. When I last wrote all of you the buck was worth .74-cents. It has risen to .81 cents as of late last week. I fully expect it to go to a dollar or more by the end of the year. This means, if you do noting and simply put your money under your matteress, you’ll make a 30% profit simply by holding your money as it will BUY MORE than it does not. If you don’t want your cash under your mattress (and who does), do not put it in a bank. Very few banks will survive the onslaught to come (especiall those supposedly too big to fail such as the BofA, Wells Fargo, etc.). Put your loot in a fireproof container that can handle 2400 degrees of heat for one hou, U.L. approvedr. Put your loot in a fireproof bag in that fireproof container (a fireproof safe). Hide the safe where nobody but only one person you do not live with and can trust with your life knows where it is. That way, if you prematurely die, the money is not lost forever.

[/quote]

 

It looks to me like your guru is basing his numbers on the dollar index, which is misleading since the index compares the dollar to other currencies.  The move up was based on troubles with the euro.  Appearing to be a better currency than the euro does not make the dollar inherently good. 

 

I’m keeping my gold.