Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Why Wall Street Hates Gold

March 24, 2010 by  

Why Wall Street Hates Gold

Wall Street hates gold. In fact they hate it as much as government does.

The reason is simple: ordinary investors that count on gold don’t need Wall Street. They don’t need the slick stockbrokers, the puffed-up analysts or the aristocratic money managers. In the eyes of Wall Street gold owners didn’t contribute a red cent to the $20-plus billion in bonuses they got last year.

Twenty-billion dollars might seem like a mega-lottery, but Wall Street always wants more. Bonuses were bigger last year than the year before even though Wall Street almost hurtled the world into an economic dark age.

But Wall Street is scared. They understand they are living it up because of the Barack Obama Bonus Brigade.* Most of all they fear sanity just might be contagious; that more and more investors will be reluctant to throw their hard-earned savings into a marketplace that is overpriced and on the verge of collapse.

Little wonder that CNBC, The Wall Street Journal and the rest of the financial media hammer away at gold. They reiterate the Keynesian mantra that it is a barbarous relic and call it a vastly overpriced commodity whose bubble is about to burst.

“Talk of a Gold bubble over the past 6-9 months grows louder and louder,” writes The Market Oracle. “It is comical and a sign of desperation among those losing their grip on the levers of power and influence. I have never seen a bubble so heavily recognized and announced.”

It does seem strange that today Wall Street is clairvoyant about the billions of dollars invested in the gold market, even though a couple of years ago it was oblivious to the trillions of dollars at risk in the sub-prime lending market.

Of course gold-bashing is nothing new. I saw it when I was a kid and watched my dad, C.V., on the TV show Wall Street Week. It was 1976 and gold was trading for a little more than $100 per ounce. That didn’t stop the host, Louis Rukeyser from calling my dad a gold bug and ridiculing him for telling his subscribers to buy bullion.

But Rukeyser and the rest of the Wall Street establishment weren’t laughing near so hard four years later when the Dow Jones Industrial Average was trading at 800 while gold was fetching $800.

Dirt Cheap, But Not for Long
The last time gold was frothy you could swap an ounce of bullion for a single share in the Dow Jones Industrial Average. Today it takes about 10 ounces of gold to buy a single share in the Dow.

But just how expensive is gold these days? It turns out that no matter how you measure it, gold is cheap. The reason is because the dollar buys so little. Back in 1980 when I was graduating from college I sold 10 Krugerrands and bought myself a shiny new Pontiac Trans Am right off the showroom floor. Today I would need 30 Krugerrands to buy a comparable Chevy Camaro.

In fact, if you account for the dollar’s decline in purchasing power, bullion would trade today at nearly $2,500 to have the same value it had in 1980. And even if you think gold only spiked above $800 per ounce, and a much fairer top is $700, it would still have to trade at $2,000 in today’s money just to have the same relative value.

Finally, bubbles usually burst because of inflated supply and falling demand. Not much sign of that in the gold market.

According to a recently released report by The World Gold Council, overall investment in gold was 7 percent higher last year than in 2008. It seems incredible, but gold demand actually climbed despite rampant fears of deflation and a physical shortage of gold. Moreover, in 2009 total funds invested in all forms of gold were a whopping 20 percent higher than in 2008.

Yet even as demand for the Midas metal continues to grow, production isn’t keeping pace. Output of gold from South Africa, the United States, Australia and Canada has dwindled every year over the past decade.

These countries, which produced two-thirds of global gold production through the 1980s, now produce less than half of the gold mined.

Over the past decade big gold companies have grown not through exploration but via the purchase of reserves in the form of corporate buyouts. The truth is it is getting harder and more expensive to find gold.

“In all of history, only 161,000 tons of gold have been mined, barely enough to fill two Olympic-size swimming pools,” wrote National Geographic in January 2009. “Now the world’s richest deposits are fast being depleted, and new discoveries are rare. Gone are the hundred-mile-long gold reefs in South Africa or cherry-size nuggets in California. Most of the gold left to mine exists as traces buried in remote and fragile corners of the globe.”

When I was born some 50 years ago companies could get about 12 grams of gold for every ton of rock you pulled out of a mine. Today they have to mine four tons of rock to harvest that much gold.

So there doesn’t appear to be enough gold to satisfy demand, at least not at these prices. But there certainly has been an avalanche of money. Consider this: in the past half century the above ground levels of gold have doubled. Meanwhile M3, a broad measure of money, has risen from $300 billion to $10 trillion. In other words, there is twice the amount of gold as there was in 1960. But there are 30 times more dollars.

All of which leads me to think that Wall Street has it picture perfect once again; perfectly wrong. The real bubble is with paper assets. The only silver lining in any of it is that it will blow Wall Street to smithereens—right where it belongs.

Action to take: continue to accumulate gold. I’ve been telling subscribers this since October 2000 when I was writing Outstanding Investments. My stockbroker friends thought I was dead wrong then. They think I am dead wrong now. I’ve been getting a lot of last laughs and I expect to get a lot more.

Yours for real wealth and good health,

John Myers
Myers’ Energy and Gold Report

* Footnote: Last month New York State Comptroller Thomas DiNapoli admitted that Washington was responsible for lining Wall Street’s pockets with billions even as the rest of the country was mired in recession. “A lot of this (bonuses) is fueled by federal money,” DiNapoli said.

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

Facebook Conversations

Join the Discussion:
View Comments to “Why Wall Street Hates Gold”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

  • David

    When the dollar crashes and we become hunter/gathers I’ll be trading you a chicken for a bushel of corn.

    • swansong

      Americans are going to experience something 2 generations haven’t seen much of: economic hardship.

      If u ask me (and I know you didn’t..) Americans have been completely failed by our public education system (probably intentionaly).

      Apparently we are clueless about the different economic schools of thought (Keynes vs Austrian School), clueless about the origin of money and what paper money represents and politically naive enough to not recognize Marxist philosophy AND EVEN voted it in to the office of President!

      Those who fail to learn the lessons of history are destined to repeat them. (who was it that said that now…)

      Such a shame. We had GOLD and we exchanged it for coal.

  • http://verizon.net Bob Sawyer

    As a collector and Investor alreadry I have tried to Influence many Friends to do likewise only to be laughed at .But let yjem Laugh I have showeds reciepts where I purchased 1oz. Gold for $100oz.now it’s worth $2400oz
    I also collect Silver the standind librty when first released i purchased 10 at a tom for $5.00 ea today they are worth more than $125 ea, some of my purchases in the 70′s and 90′s that cost a mere $5 to $10 ea are valued as high as $3400 ea.
    but my biggest question is this ??? how much longer before obama and the democrats allow this trens before they (like Roosevelt)make it illegal for citizens to own gold ? ? ?

  • Hello?

    Maybe when everything goes to pot we will help and respect one another, families will become families again and we will seek God for a change. Isn’t it a shame that money and good economic times will make people arragant, neighbors don’t even know one another or even speak to one another with their independent jealous attitude. Something about hard times, it has a humbling affect. We may be hungry but we just may become human again, seek God and show love one to another. The Bible tells us that if we do not love our brother , then the love of God is not in us.

    • LJR

      Hello? I agree with you but it may also go the other way. People nowadays don’t know who the real God is like they did back in the depression era. They are more likely to turn savage living on survival mode and won’t care about anyone but themselves.

    • http://here andre

      Your God cant help you – Choose one of them !!!

  • Hello?

    I had rather have the light of Jesus Christ dwelling in my heart than all the Gold in the world as he promises to supply my needs according to his will.

    • http://personalliberty.com DR. D

      Amen to that!!!!!!!!!!!

    • http://here andre

      JESUS IS NOT A GOD !!! — Looser !!! / Find them – many to choose on !!!

  • Joyce

    I don’t know what to do. I want to get out of the market but my advisor keeps warning me against it. How will the gold be used to live on, like cash, if and when we need it? Dumb question, I Know, but how?

    • DaveH

      Joyce,
      How will stocks be lived on? How will cash be lived on when its buying power declines greatly?
      If you’re worried about ease of tradability you might consider silver instead of, or in conjunction with gold.
      If you must remain in stocks consider Natural Resource Funds, or Precious Metals Funds which should retain their purchasing power as the dollar loses its purchasing power.
      With government out-of-control anything on paper is scary though. Perhaps the safest thing is to diversify. Decide which portion of your savings should be in physical assets (hard metals, guns, etc.) that retain their values well, and which on paper assets such as stocks, bonds, or cash. I would keep only enough cash to get me through a year of spending at most.
      Above all, read this Economic History of Argentina and see the results of Big Government on the economy of a country:
      http://en.wikipedia.org/wiki/Economic_history_of_Argentina

      Argentina was among the 10 richest nations in the world in the early 1900s. Over the last century they have declined to 30th in the world. Along the way they have had many bouts with inflation, including hyperinflation which peaked at 5000% a year in 1989.

      • http://here andre

        I Like to watch your are falling down !!!
        Denmark rules – Brain people – Obama has learned from it !!!
        Thats´s way you got health care now !!!

        • treasurehunter

          Andre, you are a vile, horrible little douche bag.

  • home boy

    if you really want to know what happens to gold and silver read in the bible ez7;19 thats ezekiel chapter 7 verse 19

  • http://www.personalliberty.com/news/pediatric-patients-with-chronic-pain-look-to-acupuncture-19609231/ James A Graham

    From: James Graham
    Date: 3/23/2010 12:02:02 AM
    To: jagraham@charter.net
    Subject: FW: Proposed 28th Amendment to the United States Constitution

    ——-Original Message——-

    From: S STEELE
    Date: 3/22/2010 3:10:38 PM
    Subject: FW: Proposed 28th Amendment to the United States Constitution

    As a widow of a military retiree, who stood with her husband for over 20 years while he served this country (which was the greatest in the world until this Congress and President took over), I have to say I agree. Shirley

    As a retired military man that have given over twenty-seven years of my life to my country, I truly feel that what this
    Country needs most is a new amendment to the Constitution . I am recommending that we add the 28th amendment to the Constitution of the UNITED STATES.

    For too long we have been too complacent about the workings of Congress. Many citizens had no idea that Congress members could retire with the same pay after only one term, that they didn’t pay into Social Security, that they specifically exempted themselves from many of the laws they have passed (such as being exempt from any fear of prosecution for sexual harassment) while ordinary citizens must live under those laws. The latest is to exempt themselves from the Healthcare Reform that is being considered…in all of its forms. Somehow, that doesn’t seem logical. We do not have an elite that is above the law. I truly don’t care if they are Democrat, Republican, Independent or whatever. The self-serving must stop.

    This is a good way to do that. It is an idea whose time has come.

    Proposed 28th Amendment to the United States Constitution:

    “Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Congressman, Senators and Representatives; and, Congress shall make no law that applies to the Congressman. Senators and Representatives that does not apply equally to the citizens of the United States”.

    This 28th amendment to the Constitution of the UNITED STATES Will apply to all passed, present and future
    congressman, Senators And Representatives.
    Just think of all the money this would save the tax payers!!!!!

    HTCM USN Retired James A. Graham E-Mail address is ( jagraham@charter.net ) Please forward !!!!!!!

    • http://here andre

      To much crap – keep it easy !!!

  • Dave

    My fear today is that this administration (Obama), with a stroke of the pen (Exec Order), will outlaw Americans from owning gold.
    Every “pot of gold” that has value will become a target for this government. The right of property ownership is a freedom under our Constitution. Under this regime the Constitution is without merit.
    Sad!

    • DaveH

      Obama is already treading on thin ice. That would be an incredibly brazen thing for him to do.

      • Bob N

        Couldn’t you move some of your gold offshore?

        • DaveH

          Maybe,
          But in my mind that would take a lot of the safety out of owning Gold. For instance, in the late 70s, early 80s, there was an outfit in LA that sold gold and stored it for their clients. It turned out later that the owner was using that stored gold for bank loans to buy real estate. When Reagan got in and got control of inflation, the prices of real estate fell, and the gold supposedly stored for the investors was taken by the banks.

  • DaveH

    There will be detractors that say John Myers has his own vested interest. My answer to that is we all do. That’s why it’s so very important to keep Government out of our financial choices. There will always be special interests lobbying the government to control our choices. As Government Grows, Corruption Flows. We must fight our hardest to retain our freedom of choice. Ultimately, only the individual knows what is best for him or her.
    The Libertarian Party is the only one in this country that sticks to its Principles of Individual Responsibility, Individual Freedom, Free Markets, and Limited Government. Vote Libertarian:
    http://libertarianparty.org/platform

    • John Myers

      Dear Dave,
      No vested interest other than my desire to see my readers do well with their investments. I don’t make a nickel’s worth of commission on anyone buying precious metals from any dealer, anywhere. My vested interest comes in to play when my readers do well and more people want to read what I have to say.
      Thanks for your comments,
      John Myers

      • http://www.NRA.com Stephaan

        Dear John;
        It’s nice to see you and Bob L. post here from time to time.
        I have a simple request.
        Could you please advise Dave H. to quit advertising for the Libertarian Party, and trying to SPLIT THE CONSERVATIVE VOTES AGAIN IN 2012? I am as Libertarian as Dave is, but I don’t think I could put up with Savior Obama until 2016. Can you imagine how much damage Obama could do with an additional 4 years in the w.h.?

        Thank you,

        Sincerely Stephaan

        • http://www.boblivingstonletter.com/ Bob Livingston

          Dear Stephaan,
          While I agree that DaveH is redundant in his promotion of the Libertarian Party it is not our philosophy to censor comments that don’t violate our terms of use policy. I will also say I disagree with you about Party politics and vote splitting. I believe it is the candidate’s job to sell himself on his philosophy. If he is a good candidate he will gain a plurality of votes no matter how many opponents he has. For example, unlike many Republicans, I don’t blame Ross Perot for Bill Clinton’s election. I blame George H. W. Bush (who was no conservative) and then Bob Dole (also not a conservative) for being poor candidates and running equally poor campaigns.
          Best Wishes,
          Bob

          • DaveH

            Thank you Bob.

          • DaveH

            By the way, I know the regulars have heard it a few hundred times, but I’m doing it for the new readers, many of whom have no idea what the Libertarian Party is all about thanks to the MSM.

          • http://www.NRA.com Stephaan

            Dave H
            Easy there big Dave. I was just messin with you with my post to Bob. You can’t possibly think I was serious about them ever censoring you.
            Do you really think Bob would censor a right wing Libertarian patriot, when they let the lying liberal socialists post anything they want on here? I don’t think so!! ;-)

            One thing you said in your reply does worry me though..

            Dave H says—> If the Libertarians split the vote in such a way as to allow another term of Obama, would it really be such a bad thing?

            Ummm? YEAH Dave! THAT WOULD BE A BAD THING!! I can’t think of anything worse!! In fact you can’t think of anything worse either!! “A BAD THING”?? I can’t believe you even said that. LOL.. I think all the liberals on here must have convinced you that Obama might really be a “good guy” after all.

          • School Teacher

            Dave H. & Bob Livingston,
            but mostly Dave H. ;-)

            Ok boys, get your DICTIONARIES out, and look up the word ADVISE.

            Advise: to counsel, to discuss, to consider, to talk over an issue.
            NOWHERE DOES IT SAY TO “CENSOR” SOMEONE. Where do you guys come up with that? Stephan used the word advise. Bob, he did not ask you to censor anybody, and Dave H. you are really over the top with your multiple, scorching replies. Apparently this is the only post of Stephans that either of you have ever read, and you haven’t bothered to read the hundreds of posts he’s made supporting the constitution and the 1st amendment.
            Your selective semantics have caused both of you to make an inaccurate assumption, and a cruel accusation against a very patriotic American, and Constitutionalist. I don’t know if I’m more disappointed in your reckless vocabularies, or your rush to judgment against a fellow conservative.

          • libertytrain

            School Teacher – I believe Bob was referring to the site policy and you really should just be yourself.

        • DaveH

          Nice Stephaan,
          A censorship attempt from a right-winger (I know you said you were Libertarian, but I doubt that). That is exactly why I only vote for the Principled Party – the Libertarian Party. We would never try to take your Freedom away Stephaan.

          • DaveH

            It deeply disturbs me that one who claims to be of like-mind would attempt to silence me. Please Stephaan, don’t vote Libertarian. We don’t need people like you who would dilute our Principles.
            If the Libertarians split the vote in such a way as to allow another term of Obama, would it really be such a bad thing? We have a large portion of the population now who still remember the prosperity that Free Markets bring. Obama’s policies, no doubt, are going to bring our Country to the brink of Economic Destruction. There is no better time for that to happen than while there are still so many of us alive who can teach the younger people why that is happening. Very few people will eagerly embrace his Socialism once they see the fruits of his erroneous economic pursuits. There is no better way to get Converts to Freedom than for them to experience the reality of Obama’s failed policies. Right now, it is just lip service on our part. Until the young experience it first-hand many will remain relatively clueless.
            I believe firmly that there are many Democrats who would embrace the Freedom that the Libertarians offer, once they understood the simplistic beauty of our Principles. We would eliminate Crony-Capitalism by getting the Government out of the marketplace. We would allow people to conduct their own personal failed-experiments on their own bodies so they could learn first-hand the error of their ways (if it is an error). So the vote-splitting might well be to the detriment of the Democratic Party.
            The Republican Leaders abhor Freedom almost as much as do the Democrat Leaders. They just have a different Agenda. But they still grow Government, and that is the biggest Danger to our Freedom. How can anybody think they are a desirable alternative?
            Watch John Stossel on Fox Business News and learn why Freedom works.

          • Cheryl

            GOOD GOD DAVE H. GET A GRIP!!

            Giving O’slobber another 4 year term by splitting the conservative vote!! You’re OK with that?????

            Good lord we are screwed if there are many people who think like you do!!!!!!!!!!!!!!!!!

      • JR

        Hello John
        I think it is very important to verify this National Geographic Article. Is this fantasy data? How did they arrive at these numbers.

  • Hello?

    A man once said , let us build larger barns, store all that we can that we may be rich and secure and God said thy fool , this night thy soul will be required of thee. What good if a man has the whole world and loose his own soul.
    We should do what we can to take care of ourselves as the Lord allows but ultimately trust in him,
    We work and save all our lives, build up security, then we die and leave all that we have saved just to make our children enimies to one another. Nothing wrong with have the blessings of God when we realize where our blessings come from and give thanks. Seek the Lord and all these things will be added unto you.

  • Larry Stanley

    So would you rather have a commodity confiscated (I assume at some price) or have your fiat paper disolve in your wallet?

    • Mike

      They’ll take your commodity and give you back Fiat! Sounds like silver’s the way to go!

  • s c

    The major list of truly barbarous relics in America include NWO-style greed, government incompetence and some Wall Street yahoos. I’d take gold over any Washington ‘pal’ or most Wall Street pimps.
    Until thngs go completely down the dumper, I’ll put my faith in gold and silver (as opposed to having faith in Obummer and his thugs). Obummer doesn’t need me, and I absolutely don’t need him.
    I see no reason why I shouldn’t tell all ultraliberal progressives to stay away from gold and silver. Let them figure out what’s what and who’s who. I say ‘scroom.’

    • MiddleRoad

      I’m with you Larry. The government will just take our gold and silver from us. It will become illegal to own. Just like everything else, there will be records of who bought what and when, and they’ll come for it. Everybody needs to try and convert some of their wealth into some type of “undocumented” stash. I have no idea how to do this.

      • Mike

        Food, to start with!

  • Gainnloss

    My God, my God! All of you sound like little frightened people! WAKE UP, STAND UP, MOUTH IT UP! Winston CHurchill said: NEVER GIVE IN!! Fight these B____trds! VOTE THEM OUT! VOTE THE BUMS OUT!
    And above all remember this:
    “It is better to trust in the Lord Than to put confidence in man. (Psalm 118:8,9).

  • Julian

    A few big problems with gold.

    1. It doesn’t pay any income.

    2. So you need to rely in someone paying more for it than you paid to make a profit..

    3. You need to store it somewhere safe.

  • Gainnloss

    It doesn’t pay an income, nor does a worthless currancy in stocks.
    Yes Julian, but one thing you left out as a positive: When stocks go to paper, (cashed in), and our currancy isn’t worth the ink on the paper it’s printed on, GOLD will still be there to barter with…..

    I guess this is why we all must find a safe place to hold it. However, when and if things got so bad, it won’t matter anyway as nothing will remain sacred or worth keeping such as Antiques..prized old cars..gems & stones…..etc…..

  • home boy

    like i said earlier read in the bible ezekiel chater 7 verse 19. for the short term you could look into buying gold and silver in australia. us government can’t touch it. long term revert to ezekiel 7;19. man can’t fix the problems . he has had 6000yrs since adam and eve and still screws it up . why? he’s not perfect and satan is in control of the system we live in. read you bible if you want to know the truth. have some faith because this system is going down but not because of obama . it’s because it is prohetcied in the bible. read revelation chapter 12,17 and 18. or you could sit on your ass and watch and do nothing like most people will do .

  • C Squared

    Stocks are not just paper. When you buy a stock you are buying partial ownership of a company. Even if our currency goes to nothing, don’t you think that people will still buy Ipods? They’ll just pay for them with other types of currency, part of which the stockholders (company owners) are entitled to. That is what’s wrong with investing today. People think they’re buying lottery tickets as opposed to a partial interest in a company. The bottom line is, the reason public companies are so successful is because they have goods or services that people want. As long as there is a demand for a company’s product, the company will figure out a way to get paid and if you are a stockholder you will be entitled to a piece of what they make. I think instead of preparing for the apocalypse, Americans should do what we’ve always been good at and that’s fight. These politicians are not that tough. We’ve overcome a lot worse than this. Obimbo has done one great thing since he’s been in office and that’s unite the Americans against the liberal agenda.

    • Bob Wire

      quote;” Obimbo has done one great thing since he’s been in office and that’s unite the Americans against the liberal agenda.
      Reply ”

      Ha, ha! yea so it would seem. You give Obama way too much credit! But in truth what “Did” really united Americans against a liberal agenda? The excesses of the previous administration and the cost paid to rectify the results. That’s what really united Americans and Obama really had less to do with it then John Mc Cain.

      Now you might well blame Obama for continuing what President Bush started, bailing out failing institutions that some say were “too big to fail”

      I personally wish he hadn’t ~ and let everyone take their lumps as “venture capitalist” that’s the way it should have went down.

      But what do I know about the effects of such thing so grand? It could have been far reaching and long lasting, plunged us into a depression. War might have broke out somewhere.

      Or not!

      but this attack on the present administration as the evil of all our pain and it’s a liberal agenda that’s the cause, won’t stand the naked light of day.

      Seems many want to forget how we got here. I sure can’t fault them for the “want to”.

  • bmarfra

    there are already 33amendments to the constitution written and awaiting action from congress. I believe no.28 is the right to work amendment (not yet ratified) Would this amendment have to be no. 34?

  • MJ Montana

    Too Big to Fail. That is the name of the book and it is about what the goverment thinks of Wall Street and itself — both too big to fail.

  • JPW-

    The hushed word on the street is that Canada has come across the Motherload of all Motherloads of gold but their government will not let them make an announcement for fear that gold prices will plummet and gold will be as common as copper. Which isn’t too bad at three dollars a pound.Remember this has to be true You read it on the internet//

    • Mark

      There is no such thing as “hushed word on the street” re gold This is simply the fuel of newsletter sellers.

      You think if Clinton can’t keep getting serviced in the oval office a secret that the discovery of the mother of all gold discoveries can be kept secret?…… a lot more than two people would be involved with that knowledge and most of them looking to profit from the knowledge.

  • Bob Wire

    Too big to live with is more like it. ~

    I wish I understood this topic better. Currency is so elusive it seems. Perceived value, that moves around inside time frames?

    Buy quality firearms if you want a hedge on your dollar.

    My understanding too simple to offer much. ~~ but it’s a concern and in a mess.

  • s c

    Probably the main reason why Wall Street ‘hates’ gold is because fiat (paper) money lets those who adore worthless ‘money’ to re-distribute the country’s wealth. If America limited itself to gold and silver, our criminal politicians and their brainwashed chums could not plunder our wealth or put us in invisible chains.
    Gee, I wonder why so many people in Washington and Wall Street have so much to hide from the American people [they've been doing it since the 1860s].

  • Citizen X

    We are very near my fellow Americans. Buy things you need now, while you have a chance. Buy assault rifles, and handguns. Buy lots of ammo. After the collapse, and widespread chaos(you know this will happen because they have and continue to release violent felons due to budget shortfalls) it won’t matter what you have, no one will sell anything to you. I know this, because I wouldn’t sell any of my ammo for any price. Same goes with the food & survival items I have. Buy a couple of beater trucks with dual gas tanks and keep em filled. Have a pump siphon so you can sparingly get around in your econo car. God bless and good luck. We are very near. And you can feel you’ve been cheated because you have. You now know the truth that there was only one party gov’t monoploy. Bush & Obama are of the same and this NWO is really happening. But, one thing I think they have underestimated, is that the American people are a special unique bunch. We will not go quietly in the night. Take care and invest in your necessities now, while you still have time. Any morning, you can hear bad news, that China has dumped all of its bonds, and that the rest of the world has followed. JFK was the last real president we had. He died to help us realize the IMF, CFR, and elites of the world are evil and have sinister plans for us. Good Luck.

  • Bob Wire

    Well, if it’s as you say, ` why bother to buy? ~ Things get that bad and it’ll be anarchy and be more of a matter of taking.

    The people that break out early will die earlier then later.

    I could be wrong and I could be right.

    I can’t afford to pay taxes or get my teeth repaired much less “buy”, which puts you on a completely different level then I.

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.