Every year We pan for Gold too. Always around Thanksgiving, and this year was no different as we readied for Turkey Day. We found $2.38 cents panning the couch and chair cushions throughout the house. I taught my Grandson's, and what fun we had. They acted and thought they were rich. I wouldn't quit my day job but it sure was a blast. As the kids were so happy about now having enough of their own money to buy everyone gifts, each others, Mom-Dad, their Uncle Bob-Aunt Kathy, B-ASS their trusted companion, and their Crappa (that's me) and Grandma Angel. I realized they got more than $2.38 panning for Gold in the couch and cushions too they somehow found out how to get Gold out of my wallet to buy everyone gifts. Kids, they can find Gold just about everywhere, and what fun it is helping them find it. I love Bird day above all days.Levity has its place
Happy Holidays Folks
BOB
That was really a good doc on Jack Rabbit. Thanks!!
Health use it or lose it !
Sonya
I thought Gold and Silver were suppose to maintain their Value?
rethink the math people.
As per the silver chart, 35.7oz = $1000 month expenses. in purchasing power as today Nov 21,2012
so if silver maintains its value, i should always need 35.7 oz to have the same puchasing power as $1000 has today. correct?
If it takes 2 oz of silver today to fill up my Van's gas tank, then 10 or 20 years from now it should still take 2 oz to fill my gas tank.
as the article says, don't think in terms of $$$ think in terms of Ounces
Often in hard times those with tools can barter the use of those tools because as times get tougher, more high tech things will fail and those with the knowledge of how to fix and or modify things so that they will work again, will be in great demand.Image having your water entire system go down because a special fitting fails, knowing how to jerry rig that fitting would be "worth its weight in gold" if folks are thirsty!
Owning a number of How-To books and having them all on a kindle might be very useful should times get tough.
Agree, but I wouldn't keep them on a kindle. I'd keep them on a good, old-fashioned, non-electric, non-electronic bookshelf!
[Hidden - Jason]
The worst analysis of gold and the reasons for owning it I have ever read.
Although mathematically correct these tables are hardly useful are they? I can't imagine anyone using them, including the author. It's anyone's guess what the politicians might do. Does the author believe that any period of sustained/hyper inflation can end in any other way but a currency collapse? If people are taking wheelbarrows full of money to the bakeries where will they have gotten it all and why wouldn't mr. goldholder have access to just as much but instead be needing to liquidate his gold stack for bread? Smart holders of gold will never sell their gold for any nominal amount of a failing currency and it will remain an excellent and liquid store of value in whatever fiat currency regime inevitably replaces the old one. NOT BEFORE THEN.
What if the money printers are simply unable to stop a deflationary destruction of the credit and derivative money out there that now overhangs its underlying collateral by as much as 100:1? The nominal price of gold will drop but it will remain an excellent and liquid store of surplus capital, as will physical currency. This is also the most likely scenario in my (no doubt minority) opinion, because even the Fed and the 1% know that a hyperinflationary currency collapse is financial suicide.
Gold, especially gold that increasingly desperate governments cannot possibly know you have to take or tax, is a very useful thing to possess, but NOT for the reasons outlined in this article. IMO.
Hi Amanda,Most excellent point, since a kindle or other type of e-book will need re-charging. There is definitely something to be said for the feel of a book in one's hands. I decided to employ both methods - largely due to space constraints, as I am in quite a small place and need to use every foot ever so efficiently. I keep how to books in hard copy, as there is nothing worse than trying to press the buttons on the e-book while holding a tool in hand trying to do something! LOL I put the "leisure reading" on my b-ebook , since I can store such a tremendous volume and assortment of books, from the serious (hello macro economics) to the easy reading thrillers which allow momentary escape from this big, bad world. I bought a little back-packing solar charger which is A-1 for charging small electronics like this. I hope it will do the trick if/when I ever truly need it. Let's hope not, but it's there just in case.
Jan