Harvey, your <<buying gold on the web>> question got good results,
and among the answers I learned some new tings, for example,
I know less than I thought I did.
Mentioned was buying silver and gold, which to me sounds good as a way
to exchange a portion of cash in a bank protected with FDIC so that
even thought if the bank folded, the $dollars would be replaced
by Uncle Sam after the bank said "sorry, all gone", eventhought
no adjustment was made after a currency crash rendering a hyper inflation
effect that today's dollar have only a fraction of the buying power
as yesterdays dollar. So, that savings I removed from my bank
and exchanged for silver & gold to represent savings in the form of
that store of value silver & gold have associated with, that this savings
will counter/hedge the hyper inflation effect, as their buying power
increases, as the number of cans of beans I can buy for an oz of gold
is greater today than was yesterday, while the $1 paper dollar buys
less beans today than yesterday.
So above is my savings, not investment or speculation money.
Gold & silver to hedge against fiat paper money losing value or worth.
This I have not done actually, and even thought I am now temped to,
the issue of where is the physical silver and gold is a concern
to me as an unknowned. Would it be in a vault in some bank or other
storage building. How would I know its really there, and if so,
could I really have access to it and take delivery ? No more
bank like FDIC, and could end up with it not there or obtainable.
So I think I have done what you mentioned you may do,
buy stock in companies that mine these metals,
and if paper fiat currency crashes
and price of gold and silver explodes
then who has these metals rule.
From: Doug A K
Wednesday, April 12, 2000
... an interesting link there on how the shorts will not
get burned if the price explodes upwards and stays there.
Rent A Safe
... what will also matter is what form you bought it in.
If you bought silver in paper or certificate form,
and your counterparty can't honor the transaction
because they don't have real silver backing it up,
you will have a problem.
With billions of ounces of paper contracts
and bank certificates of silver outstanding,
I would imagine the vast majority to be a problem,
as there are not billions of ounces of real silver
backing them up.
Just this past week,
it was revealed that Handy & Harman,
the largest silver refiner in the world,
declared Chapter 11.....
... if you had physical silver on deposit with them,
you now have a problem.
... if one of the most respected names
in the precious metals world, Handy & Harman,
can announce out of the blue,
that it is bankrupt and cannot honor its obligations
- who can be trusted?
If the largest silver refiner can't meet its silver obligations,
do you think a bank or insurance company can?
In fact, the Handy & Harman bankruptcy will serve as the model
for the resolution of the great silver manipulation.
It's so simple.
Crooked shorts sell uneconomic quantities of silver that they
can't deliver on, driving down the price for years and years,
amassing obscene profits. Then, when the moment of truth arrives,
they declare bankruptcy and walk away from their obligations.
It is the perfect scam.
What can you do about it?
Hold your own silver.
Yeah, I know,
it's cumbersome
and logistically difficult
to deal in physical silver.
It's so much easier to make a phone call and own paper silver.
The irony of ironies is that silver is so cheap,
that you actually get too much for your money.
It's hard to handle the sheer bulk.
Life's tough.
But before you make the easy choice and make that phone call,
for paper silver, ask yourself this - if they had it to do over again,
would the silver creditors of Handy & Harman do it the easy way?
Ted Butler
April 4, 2000
info@butlerresearch.com
(off topic) - A way to store your own physical gold & silver at home.
Armor Safes - Yes, but there is a problem. = weight & size
If you checked out armored safes for the home
then you will notice that not only do they arrive
at your door step as a single piece
but heavy needed a dozen folks and equipment
and also a big wide door to enter
including the remaining doors to destination site.
Me, I like to be able to not only not have those problems,
and still obtain a first class armor safe, but after it is
placed into a place like a cellar, I want the ability to
move it to another location without having to call Superman.
zanottiarmorsafes.com
Zanotti Armor Safes have set new standards for gun safes.
Pound for pound, ZANOTTI ARMOR "INTERLOCKING" gun safes
are the strongest and highest quality on the market today!
The "INTERLOCKING" design enables the user
to easily move and install their safe anywhere!
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