So... I just spent all my paper IOU notes. My life's savings!

[dre_2ooo]

Even if we switched to 100% electric vehicles,   every single mechanically moving device (including the cogs in an electric motor) rely on... you guessed it.... oil.  Oil will ALWAYS be precious. Think about it, think about every single moving part in machinary in industry that builds... well... everything!

There are MANY silicon and graphite based lubricants out there....

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[KJO]

Yup, I just spent the last of my fiat money.  I am now fully solvent!!

In December 2013, I bought $4k of mining hardware and have about 4.5BTC as of this writing.

One day last week, I paid off my mortgage and spent the rest on gold.  I figured those are better places for a constantly inflating currency to be invested rather than sitting in a <1% savings account or unpredictable stock market. 

The interesting thing will be to see what the difference between gold and BTC will be.   I picked up 3oz of gold for about $4,200.  So it'll be interesting to see which will serve me better in the long run! 

I know this is just a small drop in the bucket compared to some of you whales out there, but it's my little contribution to keeping my hard-earned money out of the banksters debt-slavery system.  (except all the gold and paper wallets, which are stored safely in a bank security vault lol)

You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly. The good news is that after this next smash, gold is going parabolic. Do not panic sell, just stay long through the storm or selloff now and buy in cheaper later.

[SgtSpike]

Don't buy gold or bitcoin, buy scarce non-renewable resources instead.
Get yourself a barrel of oil and store it. You'll be a billionaire in 30 years.

Troll spotted.

Not really. If they don't find any new oil resources it will eventually run out and people would buy oil at very high prices.

Nope. The price of oil will go up and stabilise as demand will decline with time.
We only depend on oil on short term, not on long term.
Once you switch to other energy and technology you are not dependent on it any more.

No point on keeping oil-barrels as storing is very expensive : the volume is very big compared to the value.
Oil-barrel need maintenance, you need to protect them from heat, cold, water and damages.
Your oil-barrels can get robbed or damaged.
Almost no one is buying oil at the ratio of a single barrel. Transportation is too expensive to consider delivering a single or few barrels.

Even if the value of oil increase, you need to find a buyer, deliver it and you have to pay years of storage.

Even if we switched to 100% electric vehicles,   every single mechanically moving device (including the cogs in an electric motor) rely on... you guessed it.... oil.  Oil will ALWAYS be precious. Think about it, think about every single moving part in machinary in industry that builds... well... everything!

That's what synthetics are for.  And there will always be enough non-synthetic oil for these purposes.

[mysidia]

You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly. The good news is that after this next smash, gold is going parabolic.

If that's what you think the outcome will be;  it still could make sense to buy some gold now,  and double down later.   After all, the commercials might be in for a short squeeze early if the s*** hits the fan.

Just curious, I would you pay for your daily expenses? In your area, are you able to buy everything you need with bitcoins?

You probably can't use gold or BTC or real estate to pay for your every day needs,  but  nobody says you HAVE to use fiat as your value storage  ----  it's just that  BTC or gold is a higher-risk for value storage,  when your needs are denominated in fiat.

You can pledge the asset in exchange for fiat-denominated debt.  Or just use unsecured short-term debt,  such as a credit card  settled up in full every month, so you are not making an interest payment.

In case currency loses value;  the value of interest paid also goes down, and an increase in value of whatever asset you hold your value in:  can wipe out the cost of interest you had to pay.

If you are 100%  confident of a parabolic increase in BTC and gold price above today's value soon enough;   it could make sense to take  out short-term fiat loans,  or just use a credit card in order to pay for day to day liquidity needs  in local currency.   Then  settle out the  payments by  reducing how much gold you are buying  -- if you have a fiat denominated income,    convert the fiat you didn't spend that month  minus emergency reserve to your chosen  "value storage" assets.

If parobolic price increase in gold does NOT materialize, or gets delayed, then you have a potentially catastrophic loss, however.

[LiteCoinGuy]

good to have both.

[Coins4life]

I have done something very similar. I hope it works out well for us!

[Dr Bloggood]

You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly.

I heard that too, just curious for new sources of info - where do you have that info from?

Let's see if this is really what will happen.

[r0ach]

Don't think I saw anyone mention the importance of oil in creating plastics.  Things like even your toothbrush.

[superresistant]

You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly.

I heard that too, just curious for new sources of info - where do you have that info from?
Let's see if this is really what will happen.

The gold market is highly manipulated. How do we know if it will go down soon ?

[64dimensions]

Sooo,

If the dollar is going to collapse, why wouldn't you go short 30 year treasuries in a major way?

[dre_2ooo]

Sooo,

If the dollar is going to collapse, why wouldn't you go short 30 year treasuries in a major way?

Because I don't want to wait & have my money tied up in such a risky (in the short-term) proposition, and when the dollar does collapse, who's to say I'll even be able fulfill the shorted orders and cash out (ie. the system might be completely shut or locked down)?

You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly.

I heard that too, just curious for new sources of info - where do you have that info from?
Let's see if this is really what will happen.

The gold market is highly manipulated. How do we know if it will go down soon ?

This.  The fraudsters and banksters will always suppress the gold price.  If the price is driven into the ground from shorts, 'twill be a good opportunity to buy, no?

[superresistant]

This.  The fraudsters and banksters will always suppress the gold price.  If the price is driven into the ground from shorts, 'twill be a good opportunity to buy, no?

Of course it is great if banksters put the price down (while they still have the power) but when is the bottom ?

I would like to hear some gold expert about it.

I know that you can see the price manipulation when banks dump gold massively instead of selling it little by little. They obviously don't want to make profit but drive the price down. We need to know when is the next dump.

[Dr Bloggood]

This.  The fraudsters and banksters will always suppress the gold price.  If the price is driven into the ground from shorts, 'twill be a good opportunity to buy, no?

Of course it is great if banksters put the price down (while they still have the power) but when is the bottom ?

I would like to hear some gold expert about it.

I know that you can see the price manipulation when banks dump gold massively instead of selling it little by little. They obviously don't want to make profit but drive the price down. We need to know when is the next dump.

I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.

If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).

No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.

[dre_2ooo]

I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.

If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).

No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.

Glad to hear this.

Do you have any links to any articles/videos where I can learn more about this?

[Dr Bloggood]

I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.

If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).

No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.

Glad to hear this.

Do you have any links to any articles/videos where I can learn more about this?

Read kingworldnews.com, silverdoctors.com, zerohedge.com, jesses american cafe, and maybe even the economy section of this forum.

This is my favorite blog to learn about the day-to-day manipulation (keep in mind, those guys are selling PMs, but still it's good info):

http://blog.milesfranklin.com/

[superresistant]

I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.
If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).
No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.

Glad to hear this.
Do you have any links to any articles/videos where I can learn more about this?

Read kingworldnews.com, silverdoctors.com, zerohedge.com, jesses american cafe, and maybe even the economy section of this forum.
This is my favorite blog to learn about the day-to-day manipulation (keep in mind, those guys are selling PMs, but still it's good info):
http://blog.milesfranklin.com/

Can you comment on silver market too ?

[HCLivess]

I have all savings in crypto too, I won't be giving bankers a penny.

[Dr Bloggood]

I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.
If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).
No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.

Glad to hear this.
Do you have any links to any articles/videos where I can learn more about this?

Read kingworldnews.com, silverdoctors.com, zerohedge.com, jesses american cafe, and maybe even the economy section of this forum.
This is my favorite blog to learn about the day-to-day manipulation (keep in mind, those guys are selling PMs, but still it's good info):
http://blog.milesfranklin.com/

Can you comment on silver market too ?

Silver will go way higher than gold, I'm sure of that for several reasons: Silver is used for a lot of practical industrial purposes (gold is not), so unless they physically/technically find a way to replace that silver, the industry HAS to have it (Chinese solar energy is said to be a big one).

The silver/gold ratio is relatively high now (you get a lot of ounces of silver for one ounce of gold), because silver moves stronger than gold (up, as well as down). That means you can buy silver at an even better price now and it will go even higher. Perfect for an investor, if you can stomage the volatility.

Next, once everybody is rushing for precious metals and prices rise steeply, gold will be too expensive for ordinary people (even if this is just a psychological effect, like with BTC and LTC). So people will rush to silver coins. Right now the focus of the world is way more on gold, but that might change.

Also, the silver market for silver available for investment is very small, much smaller than the gold market. All of this could lead to a real explosion.

I expect silver at $200 easily, maybe even $500 or more, in nominal terms.

Hope this helps.