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Thread: Great depression Two

  1. #31


    Quote Originally Posted by The Sage View Post
    OK Mr. Guru , what "paper" products to you prefer?
    ETF's of the metals: SLV, SGOL, PPLT. I know their faults, however they have served well as spot place markers, such that I was able to get silver at sub $13/oz and platinum sub $600! One does not need to be a "guru" to know this. If you only had physical cash, on hand, that's another matter -- having digits to play with in both the paper and electronic form can help in this. You can also buy into Kitco's pool, buy cashiers checks with that cash that you can send in for those pool purchases, or if you have friends in business, all kinds of arrangements you can make.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  2. #32


    Paper products can do very well for short term holdings, most have fees if you park your wealth in them for long periods. There's also DUST, NUGT and GDX for those looking for mining company funds. Watch out for the first two since they have a 2x multiplier and so twice as fast up and twice as fast down too.

    Plus solid research into soon to be producing mining stocks and buying when out of favor can pay big results, but you better have the ability to ride out ups and downs waiting for the payoff. If gold goes up $100 from $1900 that a nice percentage gain, but that same $100 can be pure profit for a mining stock that's producing gold at $1200/ounce all in. The cost to produce doesn't change. But you need to buy before the market gets there or the price has already risen to over bought.
    American Legion Preamble:

  3. #33


    Doug Casey on inflation, precious metals, crypto, safe haven countries & the purpose of government. His pessimism is pretty strong.

    Long time Kitco viewers will recognize the host.

  4. #34
    Join Date
    Jan 2010


    Quote Originally Posted by SilverPalm View Post
    Doug Casey on inflation, precious metals, crypto, safe haven countries & the purpose of government. His pessimism is pretty strong.

    Long time Kitco viewers will recognize the host.
    It seems Casey, Schiff, (Austrians in general) have been predicting doom for quite some time. Ron Paul and Lewis Lehrman predicted the imminent collapse of the dollar in the early 80s. As we've all commented upon, Schiff has been the most prominent of all these views for the last dozen years.

    Recently, Schiff produced a 30 some-odd page "report" on similar rationale (Feb. 2021). In short, pay China with ever reducing value of paper for their production of goods we consume = a debt where they own us. And they seem to have a creditor hold on the Biden family - and probably half of congress.

    If all this (the fed) is what is proping up "the market" then it seems the debt must be appeased (in one way or another (actually, all ways China wants).

    All this seems obvious. But what is more amazing is many "authorities" in America (apologists for our MMT) continue to focus on how the mechanics of the MMT theory work (to keep it going) and think we are accomplishing something. Analogy coming. When we don't maintain our cars and homes, we accomplish saving money ...until the value and operation of the car and home cease to work due to neglect.

    Being "owned" is not a good thing and not factoring that in is deceptive.
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  5. #35


    I believe that Schiff & his fellow travelers will eventually be proven right. The question is - When?

    As one reference, the Roman Denarius was debased for a very long time before it's value finally ebbed away -

    Other currencies fell much more quickly, eg. Argentina, Wiemar, Zimbabwe, etc.

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