Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (17065)	8/18/2003 2:59:01 PM
From: Tommaso	Read Replies (2) \| Respond to of 39344

I have yet to hear from anyone who tells me clearly, "I bought gold at $250 an ounce and then when it was above $350 an ounce I sold it and spent the money on something I could really use." I have for years had maybe 33 ounces of gold in various forms in a safe deposit box, and aside from feeling very slightly safer and superior to those who have none, perhaps, it has been a perfectly useless acquisition. I keep thinking that if it ever goes above $500 I might put it in the spare tire well and take a vacation in Canada and see if I could find a bank or dealer to take it off my hands there and give me some spendable money. I think that unless you are dealing in, say, a hundred kilo bars of gold that you fly to Switzerland in a chartered Learjet and sell there, the best way to look at gold is like homeowner's insurance which you hope not to use. The desposit accounts at Kitco are convenient but then you give up the whole purpose of the gold, which is a concrete asset physically possessed by you. I did own much more gold through CEF, Central Fund of Canada, until it started to go to a premium. I have found my own gold to be totally useless so far, and I would not be surprised if when it became useful, someone such as the US government took it away from me.

To: TheBusDriver who wrote (17065)	8/18/2003 3:43:57 PM
From: Proud Deplorable	Read Replies (1) \| Respond to of 39344

"I did, and the bank gave me one of those blank looks they give people who they think has a screw loose." You're a shit disturber just like me. This is what I would do <G !> If you were in Vancouver, then I would propose we both go to the bank and do this. Better yet, have you heard of the new fad called mobbing ? Maybe we could appeal to GATA to organize mobs and go to a pre-selected grocery store or drug store or car dealership etc and try to pay only with bullion? It would make news EH ? Here's another way to drive home the point. In most coin shops they have, on the counter, boxes of old international currency notes that have lost any value. I would buy a box of these notes and take them to a store and buy something and then ask them to rifle through them until they found the one they want ( of course planting a bill which does have current value ) and watch them and see if they get the point of the exercise. We need some creative anarchists around here. You in ? LOL