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chodpaba
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June 09, 2011, 06:23:23 PM
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rezin777
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June 09, 2011, 06:29:07 PM
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Hehe. Why sell silver if you have some extra FRN lying around? Diversity is good. I like the shiny metals as much as I like Bitcoin!
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June 09, 2011, 06:38:10 PM
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No pain when you own both!  Just a different risk/reward profile.  Wait . . . you didn't cash out of your 401k to buy bitcoins??? Look at all the profit you gave up!  Grin
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June 09, 2011, 06:43:59 PM
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It's smart to own all real monies. Gold, silver, Bitcoins, I'll take them all, because markets seem to like them.

Scientician!
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June 09, 2011, 06:46:28 PM
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My floor safe agrees..

I've done tremendously the past 3+ years shorting USD in currency markets.

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June 09, 2011, 07:08:08 PM
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Silver still inst doing too bad. Started piling it in the safe at $7, and stopped the collection at $22-24, picked up a few oddball pieces at 34.  Im holding for the grandkids so they can buy remaining FRNs as toilet paper for the outhouse. BTC is part of that plan too. Cant wait for QE4, 5, 6 etc. Serfdom is for the paper chasers.
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June 09, 2011, 07:12:42 PM
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It's funny how people are led to love quantitative easing because they can make money on it.

QE is terrible. I hate it despite any money making opportunities.

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June 09, 2011, 07:46:58 PM
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"...and to the decedents of Rand Paul IV is left these contents of his floor safe."

"Great! were there any data chips in there?"

"Aw shucks, just a bunch of crappy old gold and silver... Oh well, maybe we can get a few microbits at the recycler..."


LoL. I laugh because its funny.

Its funny because its true.

But the scarcity of gold and its continuing use in microelectronics will ensure its continued value(at some price point) for quite some time. Besides which, as a long time metal holder, I have long since recouped my initial investments in it - if it crashes so be it. I'd still rather have gold than paper Smiley
MarketNeutral
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June 09, 2011, 07:54:27 PM
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Your grocery and energy bills are always the best metrics.
rtcw
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June 09, 2011, 07:59:06 PM
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they are being over bought and are over priced at the moment, bitcoins. nothing goes straight up like this, even silver. just check ebay, there going for 40+ per coin? come on.
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June 09, 2011, 08:12:55 PM
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Bitcoin and silver are great counterparts for protecting your wealth; neither can be debased by governments. Bitcoin is great for digital transactions while silver is not. Silver is a hard, tangible asset with a 6000 year history of being a sound currency. Bitcoin does not have this history and would be of no use to you if access to the web was unavailable. Would Bitcoin have been of any use to the Egyptian protestors in the midst of their revolution? I love my electronic gadgets as much as the next nerd, but I'm not about to become wholly reliant on them.

Bitcoin poses a major threat to fiat money, not commodity money. IMHO, if you own Bitcoins, you ought to also hold some precious metals since they share similar characteristics. I much prefer silver to gold since the elites do not have the silver market cornered like they do gold (most of the world's gold is held in vaults, the same is not true for silver due to its relative abundance).

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June 09, 2011, 08:28:36 PM
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It's funny how people are led to love quantitative easing because they can make money on it.

QE is terrible. I hate it despite any money making opportunities.

Yes QE is horrendous, but its to a system I no longer identify as my own.  Its *Their* system, let them do as they wish, give unto ceasar what belongs to ceasar.  Im now culturally and mostly economically outside of it.  An outsider. That is OK with me, I am used to it.  I should write a book, "How I stopped worrying about fiat, and started loving QE".  

As the paper chasing masses continue to worship their burning scrip on the alter of the federal reserve steps, those alternative to that religion won't be part of the self sacrifice. The longer QE goes on, the farther the masses are degraded to serfdom, blissfully unaware.
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June 09, 2011, 08:34:48 PM
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It's funny how people are led to love quantitative easing because they can make money on it.

QE is terrible. I hate it despite any money making opportunities.

Yes QE is horrendous, but its to a system I no longer identify as my own.  Its *Their* system, let them do as they wish, give unto ceasar what belongs to ceasar.  Im now culturally and mostly economically outside of it.  An outsider. That is OK with me, I am used to it.  I should write a book, "How I stopped worrying about fiat, and started loving QE".  

As the paper chasing masses continue to worship their burning scrip on the alter of the federal reserve steps, those alternative to that religion won't be part of the self sacrifice. The longer QE goes on, the farther the masses are degraded to serfdom, blissfully unaware.

good shit.
MatthewLM
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June 09, 2011, 08:38:19 PM
 #14

I generally don't love things which ruin economies.

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