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Cyprus bailout = money shift to tangible assets (gold, silver, etc...)
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<p>[QUOTE="medoraman, post: 1673423, member: 26302"]Are YOU assuming people keep piles of cash laying around the house? How many ounces of gold could you buy from cash on you? I might be able to scrounge up half an ounce, and that is because I am stupid and keep a little in my wallet for emergencies. Most people would be hard pressed to buy an ounce of silver with their cash on hand.</p><p><br /></p><p>I read the stories as if the accounts are frozen. Given that, I feel MOST people would be extremely short of any cash right now, and sure as heck would not wish to waste it on PM. They need to hoard any cash they have to eat until the banks are opened again.</p><p><br /></p><p>If without notice the US did the same, and you had say $300 on you, are you going to go running to buy as much PM as you can afford, or will you keep this $300 to buy food and essentials until the banks are reopened?[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1673423, member: 26302"]Are YOU assuming people keep piles of cash laying around the house? How many ounces of gold could you buy from cash on you? I might be able to scrounge up half an ounce, and that is because I am stupid and keep a little in my wallet for emergencies. Most people would be hard pressed to buy an ounce of silver with their cash on hand. I read the stories as if the accounts are frozen. Given that, I feel MOST people would be extremely short of any cash right now, and sure as heck would not wish to waste it on PM. They need to hoard any cash they have to eat until the banks are opened again. If without notice the US did the same, and you had say $300 on you, are you going to go running to buy as much PM as you can afford, or will you keep this $300 to buy food and essentials until the banks are reopened?[/QUOTE]
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Cyprus bailout = money shift to tangible assets (gold, silver, etc...)
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