Message:

<p>[QUOTE=&quot;doug444, post: 2646269, member: 38849&quot;]Why would any of us take the risk of buying precious metals if we didn&#039;t believe someday it would pay off??&nbsp; You are very naive to think that &quot;everything&#039;s&quot; fine.&nbsp; The U.S. is bankrupt.&nbsp; Every member of G-20 is technically bankrupt.</p><p><br /></p><p>And what would you sell your gold eagle for?&nbsp; Paper money?&nbsp; The whole point of buying PM&#039;s is to have an alternative money in case the dollar blows up.&nbsp; In case the IMF revises its basket of currencies and the dollar loses its status as the petro-dollar.&nbsp; That is why our standard of living was so magnificent from the 1950s into the 1990s.&nbsp; Until 1971, the dollar was freely convertible into gold.&nbsp; When that stopped, overnight, the best end run to create demand for the dollar was to guarantee our defense of Saudi Arabia in exchange for them accepting only U.S. dollars for oil.</p><p><br /></p><p>In any case, why bother with PM&#039;s at all if you don&#039;t have an exit plan?&nbsp; It&#039;s not exactly rocket science to figure out that if you are ever going to USE it, you need small denominations; gold is gold.&nbsp; Again, if I were buying gold, I would pay the premium to get 1/10th ounces, or Mexican 2 pesos, or any other form logically useful for commerce.</p><p><br /></p><p>Back when $1000 bills circulated, would you have taken one to the grocery store???&nbsp; </p><p><br /></p><p>Just changed my mind -- &quot;collect&quot; whatever gold you like -- everything&#039;s going to be fine.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in