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As Stock Market, Housing And Currency Remain Volatile, Americans May Consider Buying Gold

November 4, 2010 by  

As stock market, housing and currency remain volatile, Americans may consider buying goldIn a climate of economic uncertainty and with the American dollar continuing to slide against other currencies, raising the specter of inflation, many people have decided to convert their assets into gold in an effort to protect their hard-earned wealth.

In more stable times, many sought gains by investing in the stock market, but it has been falling, too, due to a growing concern over the size of the planned Federal Reserve purchase of Treasury bonds.

Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Conn., told Bloomberg that if the central bank buys too much, "I think there's a real chance that rates are going to rise because people are worried about inflation."

Global stocks rose slightly on Oct. 28, lifted by strong corporate earnings, but the ailing American economy is causing the currency to continue to fall. In fact, foreclosure rates have increased in the last quarter, which will likely keep real estate prices depressed and prevent a more vigorous economic recovery, according to

Against the backdrop of similar volatility, precious metals — such as silver, gold and platinum — continue to offer attractive investment options for those who want to shield their wealth from the ravages of inflation. 

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  • Dan az

    I feel lucky that I could just afford lead.At least my place is paid for.This is hard times for most of us and buying gold just dosent come into play when food on the table seems more inportant.If I had the money to invest in gold I would buy as much as I could and make coins out of it because if things dont change soon Ill have to start using my lead.

    • JimH

      After squandering my money on food clothing and shelter there isn’t much left. Little by little I pick up silver dollars and one tenth of an ounce coins of gold and a box of 50 rounds of lead. It’s a gradual proccess.

    • Al Sieber

      Dan, buy silver like JimH, they’re getting ready to “print up” 900 billion more in monopoly money, gold is up almost $30 this morning Ariz. time 6:30am , Russia is buying up all the gold it can. we moved our mining camp 2 miles more back into the mountains where theres better high grade ore, tough move but worth it. Dan, you should join the “Gold Prospectors Association of America”, they teach you how to find gold and you keep all you find, they have some good property south of you, they have property all over the country also.


    Personally, silver is just as good with the profit potential.
    Silver can be purchased by just about everybody. It is quite affordable right now.

    • Al Sieber

      CAL, silver is a excellent investment, right now it’s $25.51 a oz. they’re talking $50 oz. silver, it’s the poor man’s metal.

  • Kerry Mercer

    I am glad I bought American Silver Eagles many years ago at $8.00 each & Gold when it was $200.00 an ounce along with 90% junk silver coins. I have also hoarded copper pennies and of course more than enough lead to protect them from the rabble. I’m permanently disabled and we are struggling just to put food on the table and forget getting help from social services,they cater to everyone else except for white descendants of European heritage.

  • s c

    Many Americans act like sheep. They wait for someone to make a move, and then they’ll think about doing something (maybe). It’s part of a herd-like mentality.
    Make a decision, people. Try something new. Owning this and that will give you a different attitude. If you think having food around is important, stock up. If you plan to defend what you have, exercise your 2nd Amendment rights. The trick is to think ahead, and NEVER let yourself act like a certain four-legged animal that’s incredibly stupid.
    Sheep get slaughtered. People THINK, although that abstract concept rarely applies to our many career retards in Washington.

    • Al Sieber

      Good post,but, people don’t really pay attention or care.

  • jopa

    I think if you guys took the lead out of your AZZ and got a job you could buy gold.You could probably get enough lead for a few hundred rounds.Right?

    • JimH

      jopa, If You pulled your HEAD out of your azz, you might find something worth while to contribute in your post. Time to go back to WORK now, how about you?

      • Al Sieber

        JimH, good one,I don’t think jopa, or dopa, works for a living.

  • Al Sieber

    Hey Dan, 7:19 pm. Ariz. time. gold gold closed at $1392, silver at $26.41. I would say the dollar is crashing real fast, faster then I thought.

    • (WIA) Wild Indian in Action

      Hey Al, any idea how much my fifteen squash blossoms, 6 watch bands and 10 bracelets be worth now a days? I bought them in 1959.

  • timmym

    SILVER is the key SILVER is the precious metal to buy ! and you can buy in as low or as high as your pocket book can handle. A global financial meltdown is coming I feel in the next 3 to 5 years (if that long) and there is going to be hell to pay !. I believe it will start in Europe say Greece then spread to Spain, Portugal, Italy, Ireland then France and other post soviet block nations. All currencies will plummet and become near useless (some more than others)! Governments will no longer be able to pay their bills and that will include Aunt Judy’s SS or Uncle Charlie’s military retirement check and the list will go on and on. Once this point is reached you will be paying $12 for a loaf of bread $15 a gallon for gas etc. At the same time you are only bringing in a paycheck that hasn’t risen in 5 years, for some people it will cost them more in gas to go back and forth to work than they would have had they just stayed home. There will be massive chaos and the people are going to freak !. These silver rounds that are going for $25 a piece now will be worth $100 or more when the crash comes but why silver ? with silver rounds or pre 1965 American coins that are 90% silver you will be able to take this silver to a Wal-Mart super store and buy groceries who will GLADLY exchange silver for food and other commodities.On the other hand lets look at gold most people who buy gold buy it in the 1 oz coin form now lets take that same gold coin to Wal-Mart in exchange for groceries or other items clothes whatever with 1 once of gold you are going to have to buy a whole lot of groceries and anything else cause that 1 ounce of gold is going to be worth a lot of money compared to the worthless dollar when everything collapses !with silver you could take 2 or 3 1 oz silver rounds or pre 1965 silver coins and buy all the groceries you would need for a month? with maybe getting a few worthless dollars back ? Take an oz of gold bullion into Wal-Mart and you break their bank !. Bad times are coming protect yourself buy silver ! not for profit but for survival !

    • Al Sieber

      timmym, you hit the nail on the head.


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