OldNavySailor

How Precious Metals Can Preserve Your Wealth

Okay, I have to ask some practical questions about purchasing and exchanging PM (precious metals) before the economy collapses. I've never bought and owned the commodity and ask you experienced people out there for some guidance.

1. How do I buy PM and how do I know if what I'm buying is real and not fake? Is there a "gold/silver/platinum" test kit? Don't tell me that I should seek "certified" or "reputable" dealers. I want proof that what I'm buying is real and not some alloy of PM and non-PM metals. How do I know?

2. Is it better to take physical possession or keep it stored at a private company site? What are the costs (monthly, annually) and can the government grab the PM?

3. What will be the mechanism be for retail stores to value and accept PM when I go to purchase food, gasoline, clothing, etc. and other staples of life?

4. Is there a website that can answer these basic questions?

I appreciate any help you can offer.

Wall Street Breakfast: Must-Know News

I second my fellow Alpha Mate's request. We used to receive one email with all the articles we were interested in reading/commenting. The new process is too cumbersome and unwieldy.


On Jul 07 10:21 AM axelrod608 wrote:

> PLEASE return to the old format listing SA articles.

Is California in Need of a Bailout?

You know there will be "strings attached" to any federal bailout money for California, just like the insolvent banks and automotive companies.

Is that what the sensible people of California want, more federal intrusion in their lives?

This economic crisis is an opportunity for Californians to reclaim their wealth, property and freedoms by rejecting ANY federal bailout money! This will force the kleptocracts in Sacramento to downsize; a good thing for the great state of California!

Wall Street Breakfast: Must-Know News

These insolvent financial institutions are a gangrene on the health of the economic body. Any competent surgeon knows the only recourse is to cut our the poison less the entire body will die.

The End of the Dollar and All Fiat Currencies

Jake you're a true American patriot. Ron Paul would be proud of you. Keep writing the truth about the evil money lenders and their obsession to control people through indebtedness.

Wall Street Breakfast: Must-Know News

They just don't get it. Not the money lenders, not Congress, not the media.

The Federal Reserve cartel thinks that liquidity is the problem; that reducing borrowing rates of interest for banks and printing more money will induce banks to start lending again. Businesses will be able to finance their operations and consumer credit lines will open up so Mary and Joe can begin purchasing imported goods again. But it still comes down to the average citizen and the reality of their pocket books.

The American people may not be sophisticated when it comes to arcane financial discussion, but they do have a sense of impending strife at the personal level.

They look at their earned income, their monthly bills, their check book and for homeowners, their shrinking home equity lines of credit. They see the deteriorating value of their financial investments and they are reducing their exposure by selling their stocks, bonds, mutual funds, etc. to raise cash. They are not going to spend much beyond their capability to repay because they're beginning to understand how the debt economy works and their individual role in this ruse of a monetary shell game.

Layoffs and pay reductions are accelerating, which means people have less disposable income. Local, state and the federal government income and property tax revenues are shrinking as well.

This economic debacle will not end by printing more money. It will not end with taxpayer stimulus packages. It will not end with government forcing the lowering of mortgage interest. It will not end with selling more debt to other countries. It will not end by making more credit available to citizens.

It will only turnaround when government understands that a consumer economy works when people have sufficient earned and investment income to participate as capitalists. Washington must stop listening to the creators of debt and start listening to the builders of wealth.

Government must focus on reducing business taxes and burdensome regulation to induce a re-growth of manufacturing here in the U.S. It is imperative that energy be directed towards marketing America as the global center of commerce. Jobs will grow, banks will have an increase in demand deposits which means more money to loan; people will begin spending again and so on and so on.

Again, it’s all about putting people back to work to create wealth, not about the availability of debt.

Wall Street Breakfast: Must-Know News

It's my limited understanding that credit (loans to industry/citizens) will shrink to unsustainable levels for the economy if the Congress doesn't fund the Paulson/Bernanke tag team proposal. Major lenders/investors will go bankrupt and their assets sold off to the private sector. Is this correct so far?

Now, I believe the US treasury will still have the capacity to print inflated fiat dollars, unlike the depression of the '30's which limited the printing due to the gold standard. So inflation will rise, but money will still be available to the rest of the lenders who are not part of the problem. That means regional banks as an example, through their state charters potentially could receive federal treasury loans to offer to industry/citizens.

I am suggesting all is not loss for the world economy due to a credit 'freeze', but only that high profile financial companies will suffer the consequences of their own actions.

I would like to explore this scenario, if only to educated myself as to other options the Congress could consider instead of trusting what the former CEO of Goldman Sachs is saying.