Next Level: GOLD $1,350.00

Yup, those are just about the prices I was paying when I started getting into PM's...just about exactly $16.50 and $1000....

 

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Looks like I am spending the long weekend sorting through piles of coins to pull out junk silver.

 

SLV ETF is up over $19/sh. today

 

And if you don’t believe me, then maybe you will listen to the famous Richard Russell of the Dow Theory Letters, who writes, “Investors sometimes get caught up in the day to day and week to week movements in gold and silver. Don’t waste your time or energy on that, just accumulate. Standing in front of us is the greatest transfer of wealth in history. When the dust settles, those holding the gold will make the rules.”

Read more: No Secret to Gold Investing. Just Accumulate. http://dailyreckoning.com/no-secret-to-gold-investing-just-accumulate/#ixzz0yNpB5gXj​

 

+1

 

I would concur that CFRs can help a lot in helping investors watch their bottom line and make unbiased recommendations. I would also recommend sites like www.garynorth.com and investment profiles like Harry Browne's well known system.

The problem with Gary North is that if you have numismatic coins he recommends either Camino coins, Moneychanger, or David Hall's buyer. Not the way to get top dollar by any means. There are plenty of coin dealers who have already made their millions and are willing to be of service with collectors or investors who know virtually nothing about coin values. Personally, I would make up my mind to get offers at coin shows, but not sell for at least several months. That way sellers regret will be less.

 

CURRENTLY:

GOLD: $1,252.60 -- High so far today $1,254.50
Silver: $19.64 -- High so far today $19.70
Platinum: $1551
Palladium: $529
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CURRENTLY:

GOLD: $1,252.80 -- High so far today $1,254.50
Silver: $19.73 -- High so far today $19.73
Platinum: $1551
Palladium: $528

 

Off topic but I wanted to post this:

30-year benchmark hits 4.32 percent with 15-year at 3.83 percent


I think this is crazy. 4.3%? I mean that is so mind bogglingly low it's crazy. Remember the days when rates were 8% - 12% and higher?

I think as a young guy when I bought my first home, it was at 8.75% or 11%...can't remember....but now we are close to talking about possibly 4.0% if it dips further? CRAZY...

 

you make it sound like the whole banking structure will collapse or something...

 

Let's think about the logic....

Rates are low, people refinance or take out loans at these crazy LOW rates.

Gov't then ups the interest rates in the following years, say back to 8%....banks now are on the losing end aren't they?

And they can't get any other banks to sell the loan/contract too....

Banks go belly up.....uh oh....what's that I hear? Bank bailout?

 

Bingo!

 

Well if YOU owed lets say $11 Trillion +/- and you could control interest rates, wouldn't you want to keep interest rates as low as possible so your debt service was be as little as possible? Low interest rates also give the false impression that we are still solvent, and motivates others to continue to lend to us. Mortgage rates and Treasury rates are all part of the big game. It allows us to continue to buy oil and all the stuff made overseas. When folk stop accepting Treasuries, then PM prices will really spike, and it's any bodies guess what happens after that.

 

Problem with your scenario is that banks know interest rate risk better than we ever will. This is why no banks hold fixed rate loans anymore, all of them get sold on the secondary market. Banks today in reality are retail stores for the financial industry. They will hold variable rate loans, (maybe), but any fixed product gets sold within days, minimizing their risk.

Banks didn't go under in the last go around because of fixed rate loans, they went under because they allowed bad loans or loan portfolios to be used as collateral for other loans. That was their mistake.

 

I have a slightly different spin on what happened: Banks, investment bankers, brokers etc. make their money from fees. They need to find a buyer and seller who they can charge a fee. They don't really care if the borrower / insurer has an ability to pay , they just need to find somebody who will accept the paper and pay them a fee for their "service". Since so many of the top guys in the Financial Service Business have short working lives they are motivated by current year bonuses and are not trying to build a business or anything else. It's get in and get out - fast.

Guess what, nothing has changed, except the worthless paper has been written off at stockholder and Gov't expense. The guys that were the cause have moved on with their wealth intact, and the game begins again, it's just called something else this time.

 

Oh absolutely, I know it's all manipulated. People, countries need to have confidence in the dollar. If that ever changes where the U.S. cannot control the image/value of the dollar, we are in big trouble....

I've had my same Wells Fargo fixed rate loan for a little over 5 years now. I'm pretty sure they are the owner of the loan. But I do know that in the early days, I used to get loans, and then months later find out my loan is owned by someone else, so I knew that my contract was being shopped around.

Right now though it seems as though I'm settled into Wells Fargo and they haven't sold my contract to anyone...

 

gold high - $1,255.00/oz.
silver high - $19.74/oz.

 

CURRENTLY: In UK/EU markets Friday, 9/3/2010

GOLD: $1,253.30
Silver: $19.69
Platinum: $1568
Palladium: $534

US market opening in an hour ten minutes...
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CURRENTLY: After the US market opening for Friday, 9/3/2010

GOLD: $1,246.30
Silver: $19.63
Platinum: $1563
Palladium: $530
​

 

U.S. nonfarm payrolls fall by 54,000 in August
Private job gains total 67,000; unemployment rate hits 9.6%

from MarketWatch.com 9/3/10


Reports look better than forecasted so this might help end this week up for markets. Maybe PMs will remain about level.