
25 Responses to “Financial Collapse: Don’t Buy Gold?”
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Why you shouldn’t
I don’t know what …
I don’t know what your financial situation is. But you’re right that we have to stock up on food and water to ride us out of the great depression.
If you have spare cash after you stock up your food, then use that cash to buy gold/silver. Don’t hold dollars.
You’re an idiot. …
You’re an idiot. Back in great depression 1929 Cash was king, because Cash WAS still backed by gold. It is finite and government can’t just print money.
You’re comparing Apple with Orange. In today’s situation, Cash is no longer backed by gold. So govt can print print and print therefore devaluing the currency value.
THE ONLY WEALTH IS …
THE ONLY WEALTH IS REAL THINGS THAT ONE POSESSES. A house would be nr 1, 2 houses even better. LOOK!!!!!!!!!!!!!!! People are fooled now to get gold or silver instead of paying off that house. You can have a pile of gold but if THEY want to they’ll make all that gold worththless enough that you won’t be able to exchange it for a house. So get a house now, while u can!
Dude, this guy was …
Dude, this guy was right, gold and silver tanked and bounced. Yeah, I think it’s risky because the gold/precious metal bounce could be really fast so I personally bought and didn’t care about missing the short opportunities, which where actually for months right, but I’m still happy. Anyway look at the date this was way before the crash maybe that’s why you think he’s looney, his scenario already played out, probably faster than he thought but he was right.
This is taking to …
This is taking to long, I think you are saying that when liquidation occurs dollars become valuable because that is what you use to pay off the debt when your leveraged up has to sell your .
AMIRIGHT?
Thanks I have been …
Thanks I have been buying gold and silver mostly silver. I think this guy needs to understand that the dollar was on the gold standard then. Now it’s paper junk.
All signs point to …
All signs point to gold, silver, oil rising in the future and I have a hard time finding a reason(s) why gold wont beat the stock market.
Thats usually the …
Thats usually the case but no one really knows whats in store at this point because America has never had this kind of debt or government spending/interference
Inflation, rising taxes/interest rates is the most logical avenue and China may start investing in gold instead of the dollar soon.
True unemployment is also getting worse and government revenues are falling at an alarming rate. The national debt will also never get paid back so I have to wonder when the dollar will become worthless.
I agree because I …
I agree because I thought that deflation always came first then hyperinflation right.
One big issue with …
One big issue with this video… the dollar was gold in the great depression. $25=1oz. Gold did not deflate, it skyrocketed, and therefore the dollar went up in value, and all other ets when down in relation to the dollar and gold.
the best thing you …
the best thing you could ever do is to purchase long life canned and dried foods that could last 10-20 years, surfvival is the name of the game not bling bling.
Besides in de end …
Besides in de end gold and silver wil be the last theng that will be worth anything. Waht if de gov’t and the dollar wer gone tomaro waht would you sell to get food for ur family, to get arms for protection, to live on and be wealthy
U R CRAZY! if you …
U R CRAZY! if you went back to the early 1900’s no one would believe U if you said that gold will devalue because of inflation of the dollar!
At the end of the …
At the end of the day gold and silver are the only things that have any real value. Look at Zimbabwe, when their money became worthless gold was the main currency used. If you live in the united states or some country where your currency is likely to crash then getting gold is a good bet. But at the end of the day food is more important anyway.
M3 no longer …
M3 no longer reported! Survival is the name of the game. If you believe in inflation as you should then you know what you have to do.
I was considering …
I was considering in investing in gold, but i recieved advertisments in the mail for investing in gold and ive been hearing how its the best thing to do almost everywhere which put me off alot. I just didnt understand why people are trying to get rid of their gold when its supposedly the best thing to have.
This guy has …
This guy has everything right on the button. Looking at charts gold did go down and the dollar did skyrocket. History repeats. And he is about to be right again.
if he was smoking …
if he was smoking the “wacky tabaccy” then he’d be much smarter then he is, don’t give weed a bad name, if you’re smart and you smoke then you’re still smart…if you’re dumb and smoke weed, you’re still dumb. Weed doesn’t make you dumb, dumb people are just dumb.
I bought some gold …
I bought some gold now because it may come in handy for transactions in precious metals, compare with dollars. When a collapse does occur, the paper and credit form of money would be almost useless, especially credit. Credit is actually nothing but digits and computerized information.
The most expensive …
The most expensive advice you can ever get is free advice… This video is proof of that.
Personally, i wouldnt buy actual physical gold. ETF’s like GLD or gold mining stocks would probably be a better bet i’d say.
Keep an eye on Obama’s spending. America’s debt is already more than we can ever pay back but if he gets the government health care bill through or another stimulus passed, Expect massive inflation to kick in and gold to soar.
I was debating …
I was debating whether or not to buy Gold, but this kid makes no sense and as result of his argument I am going to buy a couple oz’s after I type this commentary. I think he’s been smoking that wacky tobaccy.
What Peter Schiff has long forgotten this kid has yet to learn!
Good Luck
In previous crisis …
In previous crisis there was a gold standard which limited the capability to print at will. In the great depression gold was confiscated. When banks cannot pay their depositors because of debt failures, people take their money out and go where?
As an anarchist you ought to know that the govt is a theft machinery. If everyone is in cash, they will hyperinflate. If everyone is in stocks they will deflate.
You’re referring to …
You’re referring to a global deflationary crisis. As long as currencies do not collapse, it is best to hold onto cash.
sniffles
sniffles
im trying to get …
im trying to get some info and what your doing with your camera is distracting why dont you sit still