P-M prices have been and continue to be hammered. Even Wave theory doesn’t see a certain bottom.. yet. Probable manipulation by “fractional bullion paper” (GLD, SLV, ETFs). Is there any real physical gold left in the “Market”? Does it matter? If the Fed is so over-extended that devaluation is inevitable, what to do?
Whatever your opinion, it’s important to do what the smart money does. But, HINT: It’s not called smart “currency”.
If China, India, Russia, and Germany want to hold their P-M, it’s probably a good idea if you hold yours. If you don’t have any, get some now; don’t wait for an absolute bottom. Hold it yourself. If Germany can’t withdraw THEIR “deposit’ for SEVEN YEARS, what makes you think you’ll get priority on yours from YOUR bank? Any digital assets you have are worth the paper they are not printed on: checking, savings, IRAs, 401Ks. They are digital. If the ATM shuts off, telling the grocer “I really do have ‘money’ in my account” won’t get you that loaf of bread. If you have no savings, and nothing but debt, don’t worry, because for you it doesn’t matter, you’re already screwed, and you already know it. Relax.
So what happens if you are ‘holding’? Will it be confiscated, like in 1933?
Because of P-M leasing, false reserves, outright transfers of physical to the Far East, there probably isn’t that much still available to confiscate, since only 1% ‘own’ PM, and much of that is paper… so why confiscate?
If govt DOES confiscate, technically making it illegal to own, what currency value will it possess, if no one can admit owning it and is willing to publicly trade goods with it? True, but temporary, I think.
Any PM held in unallocated / allocated storage would be easily expropriated, but compensated with what? Even in 1933, there was a price paid in dollars, even though considering the later revaluation wasn’t ‘fair’. Even so, estimates were that only 25% of the available gold was recovered, and there were numismatic and jewelry exemptions. Without that, even the oligarchs will revolt. However, the NWO dollars you do get won’t buy as much as the P-M you wll have given up last month.
The only justification for confiscation is dollar devaluation…and REvaluation based on a new fix, so that the game can start over again, and wipe out previous debt. AND it’s the ONLY way out for the Fed and the US government, maybe later than sooner, but likely, according to history.
Cashing in post-revaluation PM might require being able to justify why it didn’t happen earlier, or a purchase receipt after the deadline date, or keeping it indefinitely on black market or off the books. Personal holding until revaluation seems to me the only move with high probability of success, regardless of “price,” or other issues.
But the big question remains… if there IS no gold to confiscate, because it’s in China, Russia, and India, then it is all moot. China will dictate terms, and there will be economic war. Gold v. paper dollars. “Money” being a fungible item that others are willing to accept, the people of the world will decide what they are willing to exchange goods and labor for. The Golden Rule: He who has the gold….makes the rules! ‘Twas ever thus, and shall be. Amen.
After 40 years of population growth,(what % of living N. Americans were financially aware adults in 1971??) having no concept of what a ‘gold standard’ is, (I doubt whether it is taught in school) or “savings” for that matter… smart-phone currency might be sufficient for the sheople. Most people don’t need money storage, because they have none, living on debt, owing future work-energy-money to the banks, in the credit-indentured-servant economy. Debased, fractional-reserve currency has enslaved our minds, not just our wallets.
As a sidebar, it’s very interesting to me, that with all the fear-mongering rhetoric about Islamic terrorism, what is ignored in public, is how completely antithetical Islam is to charging interest and fractional reserve banking/lending… MUCH more so than communism. Maybe we COULD learn something from a society that has survived longer than ours. Dinars and Dirhams have been around a lot longer than the dollar, and are based precisely on gold and silver, in a defined ratio. No doubt part of the bogeyman misdirection us vs. them emnification paranoia.
The GOOD news to PM owners is that the demise of a fiat currency is an eventual ‘given’. Hopefully, the historical precedents will prevail. If the ‘oligarchy’ possess the physical PM at that time, we just have to do what they do.
Theoretical arguments aside, if we are the 1% who KNOW the markets are rigged, and the other 99% can’t be bothered, then protecting ourselves is as simple as doing what the 1% of the 1% are doing. They WILL survive. They ALWAYS do.