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Silver Bells Are Ringing

December 10, 2009 by  

Silver Bells Are Ringing

Silver bells are ringing, and it’s not just because of the season, but because of the buying opportunity afforded by investing in silver. Yes silver, the "poor man’s gold," has not gotten the attention it deserves.

In the past year the traditional press finally accepted the wisdom of owning some gold in an investment portfolio. We, of course, have been preaching this for the past 30 years.

While gold has been hitting record highs almost every day, silver barely gets a mention. Don’t make this same mistake in your portfolio! If you’re looking for protection from a falling U.S. dollar, silver offers several advantages over gold.

As I’ve noted before in this column, gold has been on a tear. Its price has climbed more than 50 percent since mid-November 2008. The reasons for this dramatic increase are central-bank buying, investor and investment-fund buying, paper-currency depreciation and inflation worries.

But while gold has risen 50 percent, silver has soared even higher. It is up more than 90 percent in the past year. And many analysts think silver will outshine gold in the coming year.
 
The silver rally went unnoticed by the traditional media and by most investors, too. One of the reasons is that unlike gold, silver is an industrial metal. Thanks to a recession in the U.S. and other countries in the West, the demand for silver declined. Now, as economies improve, the demand for silver is increasing.

Consider, too, that silver is nowhere near its all-time high of $50 per ounce, which it hit back in 1980. Gold meanwhile has risen far beyond its 1980 high of $850 an ounce. Many experts believe that silver has some catching up to do.

How much silver should you own? And how should you own it? My firm, Asset Strategies International, likes a precious-metals portfolio that is 40 percent gold, 40 percent silver, and 20 percent platinum. We suggest dividing your precious-metals holdings into metal you hold personally and metal that is stored offshore.

How To Buy and Store Silver

There are three “best ways” to buy and store physical silver. They are silver coins, silver bars and certificates. Following is some important information about each one.

Silver Coins

U.S. silver coins can be bought in two ways—as recently minted, 1-ounce Eagles, produced by the U.S. Mint; and U.S. 90 percent silver pre-1965 "junk silver" coins in dimes, quarters and halves.

For small purchases, contact two or three precious-metals dealers and ask for a quote. Shop around, as premiums can vary. Today, all dealers have toll-free telephone numbers. Choose someone who has been in business for several years. And ask if they belong to the Industry Council for Tangible Assets, the precious-metals professional association. If you haven’t dealt with the dealer before then check with the Better Business Bureau to see if any complaints have been filed against them.

You can lock in a price over the phone. The price will include a small shipping and handling fee. Once the dealer receives “good funds” (after your check clears or a wire is received), your coins will be sent to you.

For larger purchases, consider buying a $1,000 face-value bag of 90 percent junk silver. This purchase equates to buying 715 ounces of silver. A big advantage here is divisibility. For example, $1,000 face value in dimes would be 10,000 dimes. In the 1970s, I recall some individuals paying for a gallon of gas with one silver dime.

This purchase of more than $10,000 would require a wire to the dealer covering the cost of the silver and shipping. In both instances the silver is shipped to you via the U.S.P.S.’s (U.S.P.S.) registered insured mail.

Likewise, when you wish to sell you can send your silver back to the dealer the same way. Typically, storage is in a bank safe deposit box, in a home safe, or, if you’re a “midnight gardener,” buried in the back yard.

Silver Bars

Bars of silver ranging from one ounce to 1,000 ounces can be purchased from a precious-metals dealer. My recommendation is to purchase the 100-ounce bars. Premiums on 1-ounce bars are too high to be cost-effective. The 1,000-ounce bars cannot be shipped through the U.S. post office, however. (Registered insured mail limits one package to a value of $25,000 or a weight of 70 pounds.)

The 100-ounce bars are considered investment-size. To avoid the need for assaying when you go to sell, bars should have four important features: a recognized hallmark (Engelhard, Johnson Matthey, no unknown producers), a standard weight (100 troy ounces), agreed-upon fineness (pure silver is .999), and a serial number (indicating that it is registered with the maker).

Up to nine 100-ounce bars can be shipped in one package through the U.S.P.S. Storage would be similar to that of silver coins.

Certificates

Should you wish NOT to take delivery of your metals, the best way to purchase and store silver is with the Perth Mint of Western Australia. The Perth Mint Certificate Program is also the safest way to own metals, since it avoids possible confiscation (stored outside the U.S.), is fully insured (Lloyds of London), and is fully guaranteed (by the AAA-rated Western Australian government). There are no shipping charges and the unallocated silver can be stored without charge.

You can buy and sell Perth Mint Certificates through their network of Approved Dealers. My company, Asset Strategies International, has been an Approved Dealer since the program was started a dozen years ago. In fact, we helped the Perth Mint design it.

For a free report on the Perth Mint Certificate Program, send an email to info@assetstrategies.com. Or call us at 1-800-831-007 or 301-881-8600. We’ll be delighted to answer any questions you may have about adding the protection of silver to your own portfolio.

Yes, the outlook for silver is very bright. Many precious-metals experts expect it to outperform gold in the coming year. Considering that it would have to rise more than 250 percent to equal its old highs (gold has already done that), they have a good point.

Silver is easy to buy, whether the newly minted Eagles from the U.S. Mint, bags of older junk silver coins or bars. For larger quantities, offshore storage at the Perth Mint in Western Australia is safe, secure and guaranteed.

May the silver bells you hear this Christmas represent the joy of the season and the safety of your investment.

Merry Christmas!

—Michael Checkan

Dr. Michael Cutler

is a graduate of Brigham Young University, Tulane Medical School and Natividad Medical Center Family Practice Residency in Salinas, Calif. Dr. Cutler is a board-certified family physician with more than 19 years experience. He serves as a medical liaison to alternative and traditional practicing physicians. His practice focuses on an integrative solution to health problems. Dr. Cutler is a sought-after speaker and lecturer on experiencing optimum health through natural medicines and founder and editor of Easy Health Options™ newsletter — a leading health advisory service on natural healing therapies and nutrients.

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  • http://www.aviewtoyourhealth.com Dale Kanterman

    Thank you excellent information.

  • Leonard Vinci

    I haven’t read the entire article yet, but I’m pleased to see that silver is finally getting it’s time. I am one of those that bought silver bars when it was in demand..paid way too much, like around $40.00. Was using them as heavy door stops. Have about 200oz. I will print out your info and read it later today. Thanks Leonard

  • Richard Pawley

    Helpful information for someone who is rich enough to take advantage of it but for ordinary middle class Americans it’s a bit over the top. I have been hearing that silver is better and has more potential than gold for twenty-five years now but it never seems to get back to where it was when Bunker Hunt and his billionaire Arab friends ran the price up in 1980. Some forget and others do not know that it was his attempt to conquer the world silver market that drove it so high in 1980 and cost him a billion dollars in the attempt (which was a lot more then than it is today). As it was he did drive the price higher than it had ever been but will someone else appear on the horizon who will try to do the same thing? I do not know, but I suspect not. Many who do not know all this think silver will go to those lofty heights again on it’s own, but I am not one of them. Silver, like gold and platinum is certainly important at this time in history when all nations are printing money trying to keep their currencies up with the dollar so they can continue to trade goods but all they are going to do is cause their own currencies to collapse when the dollar does. The US Congress continues to spend like they actually had the money and the FED continues to print money like it was real. While it is true that there are many reasons why silver should go higher these same reasons are good for coffee, and corn and wheat. While I am unqualified to tell an individual what is best for them I do know that life as we have known it is over and the great changes that the president promises are pounding at the proverbial gate. The United States of the next two decades (and indeed the world) will be unbelievable. My suggestion is that a person also purchase all the “things” that they will really need to survive the coming Great Change because many of the “things” we take for granted will not be available, most especially anything imported. The destruction of Los Angeles by earthquake will be one more expense to the former Great State of California and to American taxpayers. What is coming will make the Great Depression look like a walk in the park and I have said so in both my books (available from amazon.com) What is coming is going to be a change as profound as the discovery of the New World was to Europeans 500 years ago. Additionally I believe we are seeing Biblical prophecy being fulfilled (not necessarily the end of the world but the end of things as we have known them). Some silver is undoubtedly a good idea but don’t go crazy over it. I’d rather have farmland and a number of other things than bars of silver. The new One World money that some nations are now clamoring for will not be based on silver. Of course silver and platinum may not be confiscated when the time comes to take gold away from citizens once again (although ETF’s are much better targets than grandma’s bracelet with three gold coins on it). On that I do not know. As Glenn Beck said on the Barbara Walter’s TV program, “The Ten Most Influential People of 2009″ I too can say that I hope everyone can say, in ten years, that I was wrong. However, it will cost them nothing to prepare in case I and so many others are actually seeing the future as it will be. No one wants this to be but we have not reigned in our progressive Congress and they and Wall Street are spending us to death (or at least the death of the dollar – no, not this year, not next, but soon). Remember that life here is a school and that all is temporary! In any event it is going to be interesting and we are going to see what no one has ever seen before except in dreams and visions (or perhaps nightmares). Better to know than not know. God bless you and Merry Christmas!

    • Normal American

      Richard,
      That is good info on the reason for silver’s run up in 1980. I was not aware of that. I do think that the silver/gold price ratio MAY get more in line with the historic ratio, but it won’t be because silver skyrockets, it will be because gold crashes. It is already happening, down over $100 an ounce in less than a week. I believe gold is in a bubble despite all the cries of inflation and $2000/oz gold. The government may be printing money, but not as much as the media and gold bugs would have us think. They are borrowing like crazy because it is free money with interest rates on short term Treasuries being zilch. Recently there has been $300 Billion per week pouring into Treasuries, far above the norm. Plus the “wealth” that is being wiped out by derivitives imploding and other debt defaults far exceeds any money the FED is creating. This is massively DEFLATIONARY, not inflationary. Oh, we may very well see hyper-inflation, but not before we see hyper-deflation.

      • DaveH

        When derivatives collapse or anything else collapses in value, where did the money go? It is just in another person’s hands. It is still out there. As soon as the economy recovers, and later on even if it doesn’t, we are going to see massive inflation.

        • Normal American

          Dave, that is a very common misconception. You would be correct if we did not have a fractional banking system. What you are not considering is that when a bank makes a loan, it is in effect creating money becuase of our fractional banking system. Money does not have to be printed on a piece of paper, it can be created by entries in a computer (or on a ledger). Let’s think about a simple example where there is nothing but paper currency (no computer money). For further simplification let’s say the total paper currency in the world is owned by me and it is $100 and bank reserve requirements are 10%. I can deposit my $100 into a bank and I get a receipt that says I have an account with $100 in it. The bank can lend out $90 of it to someone else, but theoretically I still also have $100. So where did the new $90 come from? It was created out of thin air. I still have a bank statement that says I have $100 but now someone else also has $90. If they deposit that into the bank or buy something with it and that merchant deposits it into their bank, that bank can now lend out 90% of that “money”, or $81. So now all of a sudden after only 3 transactions the only $100 in existence has now grown to $271, $171 of which is imaginary “wealth.” We could get into our fiat money system and discuss how my original $100 is imaginary as well, but that’s a somewhat different topic. My point is that in the same way that “money” was created through lending it can be destroyed through loan defaults. If that “money” that was created out of thin air can’t be repaid, it vanishes. THat is what deflation is and that is what we are already seeing and what we will see much more of over the next few years. The only way for all the debt people have taken on to be paid back is for more lending and no defaults to occur. Well we all no that the exact opposite is happening. That my friend is deflation. Prepare yourself for it.

          • DaveH

            Ok, the bank lends that money to somebody else. That person buys a house (speaking larger amounts than you were). Somebody now has that money (the home seller). The buyer defaults. Is the money gone? No. The home seller now has it. The banks balance sheets have now been weakened, but the money is still out there.

          • DaveH

            I sincerely hope nobody takes your advice. We are most likely due for stagflation, where the dollar loses value, yet the economy remains bad. As the dollar loses value, the nominal price of goods go up.

          • DaveH

            Inflation or Deflation are monetary phenomenums. Either the money supply is growing too fast (inflation) or it is shrinking too fast (deflation). Given the myths promoted as explanations of the Depression, we are very unlikely to see a shrinking money supply.

        • s c

          Let no one forget that derivatives had Sir Alan Greenspan’s ‘blessing.’ That made it possible for uncle scam to give derivatives his ‘blessing.’ When you connect the dots, Greenspan, uncle scam, the SEC, the FBI and congress make it hard to tell them apart from career criminals.
          The SEC and the FBI, if you recall, just couldn’t figure out what Madoff was doing. And yet we’re supposed to have faith in them to do the job. Talk about foxes guarding the hen house.
          Even Rod Serling couldn’t write anything like this crapola.

      • Richard Pawley

        Dear NA: Dave H. is correct. We are going to have massive inflation. We just can’t tell you exactly when – but soon. All the theories about economics are taught to economists in schools funded and led by those who make our money. So much of it is balderdash. The government says there is no inflation so they are not raising social security or retirement benefits and they are so unconcerned they are telling us they are going to give us billions of dollars worth of “free” health care. However, private sources who have to work for a living, say there has been at least 7% inflation this past year, while others say 12-13% and one says 16%. I know my food and fuel and even my postage stamps cost more now than they did last January. Because houses have come down and the government averages that in with food and fuel they can say there is no inflation. With as many as seven million more homes possibly going into foreclosure in 2010 they can play the same game next year as well, but UPS and FED EX are raising their shipping rates by 4.9% next month and I fully expect food and fuel will cost a good bit more next year at this time and gold and possibly even silver will be higher a year from now as well. A bull market in anything seldom goes up, up, up, and this is especially true in gold. The time to buy (in a bull market) is when prices have taken a correction not when they have been going up for weeks on end. In truth what difference does it make if you buy at 1000 or 1100 or 1200 when the price reaches 1700. Of course it makes a lot difference if you are a speculator but not if you are an investor. Is now a good time to buy? That depends. If you understand that gold is merely insurance that when the next stock crash comes you won’t be wiped out or when the dollars value is cut in half you won’t be devastated, then I would say yes. If you are trying to get rich with gold then you have to ask someone smarter than this writer. Short selling by the banks drove it down a hundred dollars in the last few weeks and they could drive it down again but if they drive it down to much foreign countries with trillions of our paper dollars will buy it and it will go up again. Gold’s retrenchment of a hundred dollars is what is called a correction. There have been three this year that have been quite similar, but it has in no way changed the fundamentals and we are still in a bull market. This is true with most commodities. Stocks are going up because of all the stimulus money but insider selling is as much as ten times greater than insider buying and that is seldom a sign that stocks are going up. Those who have stocks have lost money for a decade now and stocks are still overpriced if price and earnings ratios are taken into consideration. One could say that there is a bubble in stocks. Gold on the other hand is being bought by even China who is now the world’s largest producer. It is also being purchased by Central Banks in many countries and they want prices down so they can buy more. The vast majority of people have been conned into thinking because gold has already tripled in price that it can’t go higher but I used to pay 23.9 a gallon for gasoline in the 1960′s in South Carolina but the fact that it is eleven times that where I live now doesn’t mean that gasoline is in a bubble. It simply means that it takes a lot more paper dollars, or paper yen, or paper Euro’s to buy it with. A bubble can’t really take place until the masses are involved and everyone is saying that it (whatever it is) is a good buy and everyone is trying to make a fortune with it. This is not even close to happening but it will. The majority know little about gold so how can it be in a bubble. Most professional people have little knowledge of gold or any PM as an investment. In truth gold isn’t even an investment, it is simply money, a store of wealth, a moth proof, fire proof, form of money that has never been worth nothing, but the majority know nothing about it. The same can be said of silver to some extent. When everybody is talking about it and all the investment magazines are hyping it and even taxi drivers can discuss the ins and outs of it, well that is when there will be a bubble. It happened with the dot com stocks of a decade ago and with all bubbles. I do not know how low the banks can force gold but they made over a billion dollars by selling gold in the past few weeks and then buying it back at a lower price. Someone, hedge funds or pension plans, bought those gold contracts and they lost because they were speculating. Investors are those who buy the actual thing whereas speculators buy and sell only paper contracts but all the buying or selling of that paper can drive the prices of the real thing, up or down. I expect you are correct when you say we may have stagflation. That will be when there are fewer jobs and when prices of some things like food and fuel will skyrocket but homes and shopping malls will go for a song. I have read that in Detroit, the silverdome(?)sports stadium was sold for $500,000 and that included 126 acres of land, whereas two years ago they turned down over $20 million for it. That’s deflation but at the same time I know some foods that have gone up 12% in the past 12 months. Wish I could be more positive but I’d rather know what was coming than not know. Even if you can’t do much to get ready, do something. Even a little gold or silver or non-perishable food is better than none.

  • oldbill

    Wouldn’t this information have been more timely in 2000?

    • Normal American

      oldbill,
      People were talking about this in 2000, its just that nobody was listening (and they still aren’t based on Wall Street, government, and the press talking about nothing but how we escaped another great depression. B.S. I say). Check out “Conquer the Crash” which was published in 2002. And if you believe what this book and just a few others at the time were saying (and still are saying) then we are only at the tip of the iceburg that is going to make the Titanic sinking look like a toy boat in a bathtub being pushed under by a child. In other words, you ain’t seen nothin’ yet. Do some research online and you will find a lot of folks talking about how the worst is yet to come.

  • Paul Revere

    The Silver and Gold Is and Was You pocket Money and kept you out of the Anti God Anti Christ Anti America Slave maker Bankers ,They deceibed You all to become Law breakers and we gave them our Gold For their Debit instruments with green Ink and Ship the Gold to Israil and Europrn Bsmkes
    Dump the Fed and Jail All the Bank Robbers amd the Congress for treasonalong with the Judges and return to Lawfull Gold and Silver money
    Wger and Who Gave them the Ten Trillion to Bail out the Crimanl Bankers ??
    And who will Collect the intrest on All that New Toilet Paper with Green Ink on them??

  • confused

    I distinctly remember, as a yout (youth) NOT to play someone else’s game. Unless one is intimately familiar with all of the potential things that can go wrong, or information that has been left out of the explanation, it is too easy to make a mistake for one’s lack of knowledge. Being unfamiliar with these unknows, I choose, wisely or otherwise to take a pass on the “opportunities” being presented. These moves are not by any means simple, but are frought with the potential for disaster. Then again, perhaps I’m just not smart enough to sort through the information.

  • hunter

    I for myself like smaller demonations of silver best, either in bars or coins. The reason: if silver were to take off/or not but increase in value, it is sometimes easier to dispose (sell) in smaller quanties also it would enable one to sell half or other fractions of silver rather than sell, say a 1000 oz bar. Also I like the 90% coins,because they most likely be worth something, if only for the coinage denomation (dime, quarter, half,dollar) coins have collector value. A warning: Don’t brag or show your purchases to anyone, the largest percentages of times theft of valuables such as coins, precious metals are done by a friend, relative or someone that has seen or heard about your investment.

  • Al

    Gold and silver are good assets to have when we return to a barter market economy. Also, consider having other items that will be in great demand in that barter economy. Think about things that do not take up a lot of space, like toilet paper, even though it will be a greatly needed item. How about things like canning lids, matches, candels, batteries. ammunition in 22 cal, .223, 308, 410, 20, and 12 guage shotgun shells? How about garden seeds, be sure they are capable of producing seed that will grow the next season. Don’t forget Salt, pepper, sugar, chewing tobacco, cigeretes, small bottels of whiskey, vodka, rum. Buy them now while they are still available at a reasonable price. What will you be able to trade these items for when they are no longer available? Don’t under estimate it.

  • MJ Montana

    Are there any good silver stocks to buy?

    • P. Fitzmorris

      I say buy it in tangible asset, nothing on paper.

    • DaveH

      I would suggest a natural resource fund, or a precious metals fund. Also, some hard precious metals in possession and well hidden. The funds are greatly diversified providing greater safety, but don’t expect huge gains (other than in nominal value).
      I think we’re going to get out of this situation. It may be just what the doctor ordered to wake the voters up to the dangers of Big Government and unbacked currency.

  • Joe H.

    I have been buying silver for about ten years now and I don’t intend to stop as I also collect coins. It is a good investment!!!

    • Claire

      Joe H–you and my husband! He has been buying it for years too. He has coins coming out the kazoo.

      • Joe H.

        Claire,
        You’ll appreciate it later!!

  • tjmarz

    Poor Man’s Gold is actually Ammunition.
    -tj marz

  • Robert

    I’ll take my chances with Water Company Stock. SWWC looks like a good buy at $6 with $0.20 dividend. Not sure why it traded at $2.40 and ran up to $5.99. Took a big hit last year ending 2008. $50 million increase is cost of revenue and $34 million in non-recurring expenses. Could go as high as $10.00 over next 6 months or higher if the larger water companies bid on a takeover. Just think about this. You can’t drink or grow food using gold and silver. Will be doing a lot more research on this company before investing. Looking for any hidden risks since its a California company. Water prices could come under pressure in that state if their state government steps in.

  • http://www.logoweardirect.biz/rsmith65 Russ

    Hi!!, Everybody:
    Some thoughts on your subject here pluss some of my own. 1st though let’s consider two demonstrable ideas here: (1): Thomas Edison said…”not one person on this planet knows 1 millionth of 1% about anything!!” (2): Alan Alda, the primary Dr. featured in the TV series MASH said: “Begin questioning your own assumptions. They are your windows on the world. Dust them off every once in awhile, so the light can shine in.!!”
    So, obviously, none of us knows it all and we are seekers for the fruits of the truth that sets us free into right actions for the upcoming economic whatevers but at least we’re seeking & not standing still, to be sideswiped unexpectedly by totally unknown circumstances.
    A deceased friend of mine taught me a few things we might want to consider: He began his accumulation of silver $$’s, when you could still trade in Fed. Reserve Notes in Reno for Ag $$’s straight across and then used 300 of those when the Hunts ran up silver as mentioned above to trade of enough paper “I Owe You Nothings” to buy a new Chevy Pickup Truck and then tell DMV he purchased his new Truck for only $300. This taught me Greshams Law. Nobody spemds silver $$’s at face value, because they are being hoarded for their silver content which is worth far more than their face value.
    Eastman Kodak can take 1 troy oz. of industrial silver @ 999.99 fine & use it to make 5,000 colored photographs or electronics engineers can use the fine wire which is 50 miles long from that same troy oz. Nobodys’ paper I Owe You Nothings can do that…ever! So, Ag has the advantage in all aspects of capturing intrinsic value paper will always lack & Ag can’t be reproduced instantaneously to serve a Fractional Reserve Banking System nor can the Fed. create monetization with silver that they call “quantitative easing”!
    My deceased friend purchased 5,000 troy oz. silver bars too begining @ $1.29/troy oz., he told me that that’s considered to be a contract for silver, if you were to sell your Ag to Eastman Kodak who is the largest user of Ag worldwide. If your silver were to be sold to Eastman Kodak in smaller increments, they would discount it, for a lack of volume/bother.
    He also precautioned that, due to here again what do we know, because the Banksters/Fed./Political Hacks etc. can exercise so many choices they will not confide in us prior to their actions, we should hoard some US coinage, in case they come out with a new currency whereby they lop off say two zeros where your old $100 becomes $1 of their new currency. US coinage he said is produced by the US Treasury Dept.; while Federal Reserve Notes are produced by the Fed. US coinage at least has some metal in it which represents some intrinsic value compared to paper but it would capture the new purchasing powers of any new paper currency we might see issued for the purpose of creating an instantaneous delfation by them.
    RUSS, Calif.

    • Jim

      When silver reaches some indeterminable level [$25 ?], Kodak, Fuji, and Polaroid will begin unloading their uncounted tons of industrial silver in order to make huge profits. Value will plummet to a few dollars per ounce. Silver therefore is a very risky investment.

      • s c

        Jim, THE riskiest, dumbest, most retarded “investment” for the next 3 years is in having ANY faith in comrade obama and his progressive anarchists. Only someone like George ‘your money is mine’ Soros can afford to invest in a precious metal and not get hurt. Kodak, Fuji and Polaroid can fend for themselves.
        The idea that there aren’t any risk-free investments for most people shouldn’t have to be said. What I’m wondering about is the timing and intent of your comments.
        Are you a disinformation source? Do you want us to
        get comfy and not take a hard look at the scum in Washington and what they have in store for America? Unless you already have years of investing savy (and loyal, satisfied customers to prove it), I don’t see you as a credible info source.

  • http://www.logoweardirect.biz/rsmith65 Russ

    Hi!!, Again Everyone:

    A final footnote to my earlier pose, because my earlier attempt ran out of spaces:
    If we see a new currency forced up us by “them”, which would represent a massive, instantaneous deflation, guess who has 1st use of those lower prices with which we will all be forced to live due the shrinkage of our entire monetary base via a new currency destroying the purchasing power of our present Fed Notes? Say a loaf of bread now selling for $2 would then go to around $.02, if “they” loped off 2 zeros. They would have no further costs for their new money except paper & ink, unless they had to come up with the costs of backing up their new money with some intrinsic based metals.
    If we have regualar US coinage when/if that happens, we would gain around a 1,000% without any more costs that what it would take to make the transition from our present paper to US coinage, providing we have the extra Fed. Notes to work with etc. Yes, we poorest Americans always take it in the shorts! Please remember this is not my economic advise but the thoughts of my deceased frined. Only you can produce the final judgements on what you actually do with your own $$$’s.
    RUSS, Calif.

  • David

    Good idea. Am currently investing what I can in gold/silver. Especially since the state of GA, where I live, has an amendment in the state assembly to make gold and silver legal tender.

  • Joe H.

    David,
    Don’t depend on that amendment as there was a confiscation of gold coin and bullion once before by the federal government and there was nothing you could legally do about it!! As a matter of fact, if you owned some of the coins from then right now, they can and will confiscate them!!!

  • s c

    Folks, either you put your trust in the dollar, the Fed and comrade obama, OR you can try and survive. VERY SOON, Americans will learn the hard way what ‘full faith and credit’ REALLY means. [Hint: it deals with the differences between rotting bs and reality].
    The odds are VERY high that comrade obama will be in the white house when it happens. No doubt, the master list of official excuses will be long and detailed (concentrated BS!).
    When it happens, remember that RINOs, progressives and many generations of traitors got us where we are (and where we’re going). The basic moral of the story is “friends don’t let friends put their faith in BLOATED, DICTATORIAL AND TRAITOROUS GOVERNMENT.”

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