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Tractor Talk Discussion Forum

Re: O/T Investing opinions

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12-08-2012 19:22:36

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OK - I'm gonna show my ignorance here. You guys talk about investing in gold and/or silver. What do you do with this gold/silver, or is it like investing in say - pork bellies, where you never see the hog. I saw on the news recently where a preacher talked a guy into taking a couple into his home to help them "get on their feet" so to speak. This guy had invested his life savings in gold and silver coins, had them in his home, and this couple cleaned him out. They interviewed the guy on TV, and it was a heartbreaking story. I kept expecting them to interview the preacher who started it all, but of course he was nowhere to be found. Anyhow - do you take possession of this gold/silver, or is it imaginary, as on paper somehow.

Financially Ignorant Paul

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Traditional Farmer

12-09-2012 00:43:28

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 Re: O/T Investing opinions in reply to PJH, 12-08-2012 19:22:36  
Like anything else you have to protect it.For a substantial amount of valuable metals you need a good safe not some POS like TSC sells.A good gun safe will run you around 2 to 4 thousand$ and you need a good place to put the safe thats not very easily found.Also pick the safe up yourself at where you buy it and tell no one thats knows you that you have a large amount of Gold,Silver etc.
Guns safes are great because people think guns not metals worth thousand$ are in it.Personally I'm big on US Minted Silver Eagle Dollars they have 1 ounce of Silver in them and are reconized by almost anyone so they'd be good currency to use.Some of the first Silver I bought now buys over 3 times the US Federal Reserve Dollars I bought it with,while the US Dollars I had in the bank collecting almost no interested have declined in what they'll buy at the grocery store or gas station every year.
Most Americans have it backwards The Currency of any country including the US is the 'commodity' and its measured against the all time standard Gold and the US Dollar has declined in value against Gold 98% in about the 100 years its been around in its present form. All paper currencies have evetually failed thoughout history for a very good reason the Gov't or enity thats prints them can print any amount they want,probably costs less than a penny to print a $100 bill so the temptation to print more is always there and its costs nothing now for the Federal Reserve to 'conjure up' any amount of US Dollars on their computer screens to digitally transfer to banks that in turn digitally transfer it to the US Gov't to finance the National Debt.

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Walt Davies

12-08-2012 21:07:04

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 Re: O/T Investing opinions in reply to PJH, 12-08-2012 19:22:36  
Small amounts you can keep at home in a good safe but large amounts it better to keep in companies vault and pay a small rental fee.

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12-09-2012 10:37:49

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 Re: O/T Investing opinions in reply to Walt Davies, 12-08-2012 21:07:04  
Thanks to both of you for answering that question for me.

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