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I never thought about it, but, yes, that idea makes sense. However, you might be protecting yourself against the US government, not the people without jobs or money! Something close to a place with a lawn so you could grow a garden for food would be helpful too.
[quote=Deb Fernandez]Other than having 3 months of cash on hand and a year’s worth of food stored, why wouldn’t I want to put every extra dollar I have in precious metals? I can’t see any reason to hold any more US$, but maybe I’m missing something. I’ve converted my rollover IRAs to precious metals, also. [/quote]
I too understand your question nd have asked myself that same thing. I currently have 50% of my retirement in PMs split between GLD and SLV and some DGP (double long). I watch the markets everyday. If/when gold goes to 1500 or 2000, I’ll sell some and wait. If it continues to go up, sell more. you get the drift.
I think commodities are now a good invest on the next leg down on the dow. I plan to invest 25% of my portfolio in a slew of these like MOO, DBA, DBC, USO, DBB.
They key, IMHO, is the be nimble and ready to trade in-out depending on the FED may or may not do to swing markets. Things are going to get more volatile.
go to freedom-force.org.
This was started by the author of "The Creature From Jekyll Island" which is a book about our current federal reserve. Awesome read.
Thanks for the explanation! I currently a lot of the GLD ETF but plan to get some gold for my personal safe keeping too. If the financial system started to collapse, don’t you think the gold etf would go up a lot? I do. My plan has been to sell it when it hits my trigger of sa, 1500 or so. Some people say it’ll go to 5k or more. I don’t know about that. If it does go to 5K, I’m going to immediately buy the DZZ etf to capitalize on the fall which I’m sure will happen too.
anyone else have a comment about this GLD ETF issue?????
Great article…Thanks… One question….. what do you mean by "but wealth in "paper gold" will be lost to counterparty default or exchange default risk. "……………….are you saying the GLD ETF funds I have will be worthless?
Thanks for the information. I know I’m not the smartest guy in the room when it comes to these type things so I’d like to ask you a couple of questions.
1. are you 100% sure this is how the CDS market works or has been working? If so, isn’t this like naked shorting the stock market? Selling stock you don’t have hoping for it to go down in price?
2. How can you legally buy a CDS contract on something you don’t have any connection with? This sounds so crazy I can’t believe it has been happening.
3. what, in your opinion, is the solution?
Thanks for the excellent posts you guys! I’m glad to see there are other like-minded people out there. Most of the people I talk to look at me like I have two heads if I say something like…..maybe there is "some" manipulation in the stock markets? I don’t dare bring up more info than that like discussed here. I’ll be labeled a radical and who knows….maybe I’ll disappear. I’m already paranoid enough about posting this type of talk on a blog. What if TPTB start trolling to get our names and IP addresses, find out where we live and then…..maybe off to some FEMA camp when things get chaotic.
As for me, they better be well-armed, that’s all I have to say!
6 weeks ago my wife caught me looking at a bulk food website about buying some 50lb bags of beans and rice, etc. She told me I was a nut and to stop reading all the financial blogs. I’ve been reading Chris, Mish, Roubini, Denninger, et al, for a long time.
I just think I’m trying to keep up to speed because the MSM sucks and I don’t like their flavor of koolaid.