Will my friends ever buy?

I hear that the FED is looking to add tax to those that own foreign stocks. Or I should say, you have to report what you own, which is beyond comprehension to me, it is none of their business. I would see how this affects owning foreign currency?? I don't know too much about foreign investments but even just hearing this makes my blood boil.

They simply want all our money.....

 

Log in or Sign up to hide this ad.

You'd be surprised at how much the government knows about you or can easily learn about you. Just about everything. It's not centrally located however, and one location doesn't talk to the others much, else we would have prevented 911, shoe bomber, Madoff etc. But, if they really want to know about you, they certainly can find out.

 

Agreed. All the agencies, and there's many, have the tools and technology to know a lot about us. With all the tools they have, they don't seem to have the one that shares info with one another ironically!

But if there's a will, then there's a way, and they can find anything out about us.....

 

Well, anyone who takes financial advise from the web or TV from people they have never really met without independent research is a fool. With PM and almost every commodity on an upward streak, even fools can currently make a profit, and then point to that as an example of their expertise. There are many on the bullion thread that demonstrate that they know research, and are well worth listening to, but others are not. Each has to choose for themselves.

If an investment is continuing profitable, you must weigh the risk/rewards constantly. If stocks through QE2 improves at a higher rate than PM, and there are cases for that with certain sectors, you need to be able to take profits and get into those making more profits. You also must pay attention to the people in charge of the money supply and what they say. Inflation indexes had dipped severely in the last few months, so much that deflation started to appear more likely than inflation, and much more likely than the hyperinflation so many PM newsletters love to portray. So with QE2 announced, several sectors may outperform PM with less risk in the short term. My stock holdings gained more the last part of last week more than my PM holdings %wise. Don't fall in love with the idea of hyperinflation unless you have strong indications. If you have $10000 in gold and 10000 in stocks now, and a moth later you have 11000 in gold and 13000 in stocks, are you ahead? You could buy gold with the devalued dollars and have more than just holding through an increase. It does take time to read, research , and evaluate.

Investing is putting your money into the best risk/reward scenarios, and you have the #1 rule already, don't invest your money in ANY investment unless you can really really afford to lose it.

Be Cautious as one can lose 10 years of savings in a few minutes.

​

​

​

 

Do not forget the psychology of the market, much of what the way things have been set up depend more on perceptions of reality than reality. What I mean is that for instance if people think that the Euro or dollar is weak, than they act on that perception, and much of the perception is more pr and advertising than reality. Eventually reality wins out, but it may take a while for people to try out all the lies first before it does.

 

And this is when those that have been buying PM's can watch the rocket ride shoot up when the mass start buying. The "delay" is only our advantage as the price continues to stay suppressed....just my opinion....that's assuming that the mass can actually afford any metals at all when that time comes...

It might just be celebrities/athletes and other very wealthy folks who are the ones buying......it may already be too late for average joe......

 

Hi Jon,
As I read on ahead of your post, I see a lot of great advice given to you. Agreeing with most all the advice, I second the opinion about not buying anything from the bank! They are just not offering enough on ANYTHING! Not jumbos, not savings, not "nothin!". Also, as you evaluate whether to sell or hold, remember to take into consideration your tax consequence (gain/loss on the original cost..) That said, you may want to be patient while you make up your mind. Lucy

 

This is by far the best advice on this thread so far.

 

Oooops!

Oooops! Gold retreated this afternoon. Could gold have reached its peak? Only time will tell.

 

Part of the key will be how China and the rest of the world reacts in their trading day. I am not sure how many times the USD has been downgraded ( by the Chinese today) before. They really want the import/export trade to go their way.

 

They have nothing to worry about. There has been a little misery on their end after China finally adjusted their yuan, (even if only a little) but in the long run they have the U.S. right where they want them. They are the second largest economy and the second largest holder of America`s debt. They have threatened to sell the treasury bonds should the U.S. impose a bigger tariff on their inferior imports....and even if they are indeed bluffing, nobody wants to push them and find out. The time to play hardball with them was almost a decade ago.....but instead America let manufacturing move over there freely in the name of globalization.

So in the long run the PMs will do just fine. If somebody wants to get into the PMs, the first thing they need to do is get out of the day trader`s mindset.....as watching the roller coaster that is the market can cause coronaries. In the grand scheme of things China will surpass the U.S. and America will be a nation of consumers only.
Take some time and look at where the majority of products are made in any retail store.....and notice that the things that ARE made in the U.S. are not being carried by most chains.

The damage has been done, and more and more people are becoming aware that the American dollar can not defeat the red dragon that is China.

 

Your post, ironic or timely, I just read this article this morning:

Sex Tops Salary in Quest to Lift Taboos: Matthew Lynn from Bloomberg.com [11/9/10]

 

Well Evom777, the sad thing is we played right into the hands of China blindly. We pretty much did it to ourselves. The sad thing is when we have the choice to buy American made, we don't. Some of the damage is irreversable, but we can reverse this downward trend. People need to wake up and buy American whenever possible. I am a mechanic by trade. Tools are one of the last places where you still have a choice, so I try hard to do my part.

 

Hope its Snap-On Tools. Supporting a Wisconsin product too I hope. The state really needs it.

 

Oh yes, I'm from the Badger state as well. Snap-On might be expensive, but if you use "em every day it's worth the premium.

 

Don`t get me wrong.....I still buy American when applicable, but I have noticed that many retailers have stopped carrying American products and replaced them for imported crap from China and Taiwan. Brands like Estwing can still be purchased in the Home Depot whereas Lowes chooses to not carry Estwing. Sears has started to incorporate some inferior imported brands, but for the most part still have a major amount of the Craftsman line still made here, as well as the Lisle line of automotive tools.

How much longer can this go on for? I ask myself if the average American can actually forsake the inferior import for a better American product? Will they get sick of it enough to pay a little more for an American product? I hope so, but ultimately I have little faith in path of America....and that is just a small reason as to why I think the PMs have a very high yet stable ceiling.

 

Lol.....I only have a few Snap-On products, but on the plus side I do support the Brewers, and have been a fan of them since 84. (and I live in a predominately Yankee loving city)

 

One of possible causes of the decline today is that COMEX is raising initial and maintenance margin on Silver futures starting after close of business tomorrow. If someone was on the edge for margin calls, the high level early today would have been a great point to sell their future contracts today and possibly some tomorrow and avoid having to raise more margin.

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv10-461.pdf

 

That 'was' the reason. SLV ETF hit 28.72 . . backed off to 25.85 before recovering. Closed at 26.18. Premarket trading this morning (Wednesday) at 27.04 . . + 0.86.
Very volatile spot market as well. Interesting day. But, to be expected at some point.

 

Not Likely.................they are brainwashed

In regards to your original question,no,your friends will never be interested precious metals simply because there are other things more important in life like..................Tiger Woods.......Lindsey Lohan.............Desperate Houswives.........Jersey Shore..........Dancing with the Stars......Jerry Springer......I could go on and on but I won't.
Your friends will not clue in until it is too late.................don't worry about them.....
I have the same kind of friends so you are not alone.................