2
1
View Full Article
Mike Shedlock

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

Most Recent Articles

Join the Debate
11 Comments So Far
olerocker/bluesman Wrote: Jan 01, 2013 12:24 PM
Ya can't cash gold at the banks because it is not concidered money....kinda like the Hebrew shakel, worth only what two or more people thought its worth trading for goods....you buy gold for say one grand an once, who is gonna give that price down the street dealing with gold....just like a pawn shop, give ya half of what ya payed for it.
Flag as Offensive
Frank130 Wrote: Jan 01, 2013 2:06 PM
When the USA either defaults on its debt or prints up so much money it results in massive inflation, which would you rather have: $1600 US Dollars or 1 oz gold? Which will buy more? You can also own 1/10th oz gold coins & 90% silver dimes/quarters. Which will buy more: $160 US Dollars or 1/10th oz gold coin? $3 US Dollars or 1 silver dime?
Flag as Offensive
olerocker/bluesman Wrote: Jan 01, 2013 4:04 PM
Better check out your siliver coins, last time I checked, mine had copper in the middle of them...and where do you by a 1/10th oz gold coin...that the banks except?
Flag as Offensive
Kurt114 Wrote: Jan 01, 2013 2:23 PM
olerocker, not trying to be a jerk towards you, really. However, if your opinions are the result of your personal experience, your experiences have been very different from mine. Gold is money. Cash is not money, it is a medium of exchange. Gold can frequently be traded directly for goods and services. In those instances where cash is required, gold can be traded for cash prior to the transaction. Gold's value is constant. Gold isn't rising, the dollar is spiralling down.
Flag as Offensive
olerocker/bluesman Wrote: Jan 01, 2013 4:02 PM
FDR, took the gold off the market and replaced it all with paper money, which was printed "backed by gold or silver"...then changed to 'FederalReserve Note".. Nixion allowed people to own a small amount of gold...find a bank who will exchange Gold for paper money....you won't...and you use the work traded...you can trade a car to...but it's not money...the price of gold is determined by the folks who sell it...a plumber/home builder ect will not take gold for payment unless he is a collector like you...before investing in gold talked to several banks said they would cash silver but not gold.....not tryin to jerk ya aroung either. I will stick with the stock market for now and buy the stuff from overseas.....
Flag as Offensive
MoreFreedom Wrote: Jan 02, 2013 12:21 PM
You can buy gold at a few percent above spot, and sell at spot. It isn't devoid of transaction costs, but few investments are. Of course you can invest your money in the bank and get around 1% return without transaction costs, but your return is less than inflation so you're losiing money.
Flag as Offensive
adrianvance Wrote: Jan 01, 2013 10:53 AM
Gold is very over-bought and could fall if we see any sign of stability.

Come see us at The Two Minute Conservative at http://adrianvance.blogspot.com and when you speak ladies will swoon and liberal gentlemen will weep.
Flag as Offensive
Frank130 Wrote: Jan 01, 2013 1:58 PM
The USA cannot repay its debt and US Dollars & US Treasury debt obligations will one day crash when enough people wake up to that fact. And people will eventually wake up if Washington continues to spend beyond its means & continues to create money out of thin air. Since I don't see Washington changing policies any time soon, the only "safe haven" will prove to be things of intrinsic value. I don't see stability ahead & the Federal Reserve cannot keep interest rates artificially at zero forever... yet they must stay at zero or we default on our debt.
Flag as Offensive
Curtis108 Wrote: Jan 01, 2013 4:03 PM
Where is anything with "intrinsic" value?
Flag as Offensive
MoreFreedom Wrote: Jan 02, 2013 12:23 PM
Nearly everything has intrinic value. If people want it, it has value.
Flag as Offensive
Frank130 Wrote: Jan 01, 2013 10:33 AM
I'm with you Mish!

I continue to purchase & hold physical gold/silver (cost averaging) & gold mining stocks, but my comments on the internet and voting record are always based upon policy that would be best for the USA & not for my financial holdings. Sadly, neither the politicians nor the average American voter are listening & bad politicians keep getting re-elected. So I continue to buy precious metals & continue to closely follow gold mining stocks, often adding to them if their prices drop but their fundamentals remain good. I fear the financial ruin of the once great USA is at hand. It no longer is if it can be avoided, we've past that point. I'm aware my gold stocks might drop to zero under some Market collapse scenarios.
Flag as Offensive
New comments on this article - click to refresh