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WHY NOW IS THE TIME TO BUY SILVER

BUY AMERICAN, BUYING GOLD/SILVER, GOLD & SILVER   No comments yet

I’m not sure who said it but it’s worth repeating. The best time to buy silver was ten years ago, the second best time is now. This week TPS (The Prospector Site) received our share of emails asking if now is a good time to buy or wait in hopes of a silver price dip. I understand the thinking but to me personally the risk doesn’t out way the return. Over the next few hundred words I’ll explain why I feel now is the time to buy silver.

Few will disagree when I say the world is changing before our very eyes. Germany has asked the US to return all physical gold stored in the United States. The rumor is this gold, German gold that is, is no where to be found. Domestically, this administration is “all in” as they ask Congress to erase the debt ceiling even to the point of warning anyone standing in the way of such fiscal irresponsibility as a obstructionist.

This week alone President Obama warned those opposed to raising the debt ceiling, increasing the national debt, as “responsible if our economy falters”. Never before has this author heard such a political admission of bankruptcy as when the President of the United States admits the only choice is diving deeper in debt. The USA has reached the monetary point of no return from the lips of our own president.

Let me be perfectly clear here. I hold no political bias; my objective is nothing more than to compare facts of the day to PM (precious metal) relevance. I have my political opinions, like you do too, but they shouldn’t play into your decision to buy or not buy silver.

When a country reaches such a point of borrow or bust it matters little the price of silver or gold. The only issues are how much one can afford, where you will buy it, where will it store. Maybe at this point I should share an email we received this week to better clarify my point.

QUESTION:  I am looking into purchasing a few thousand dollars of silver coins (junk) from a reputable local coin shop here.  Do you recommend I wait for awhile to see if the price drops (like sometime this summer)?  I am in my mid 50′s,  Please advise.  Thanks.

TPS:  I love this question for many reasons. It proves Americans are waking up and taking control of their financial future. This reader, proved by their wording, has taken the time to research silver (by the mention of “junk”), check out a local silver source (by mention of a reputable local coin shop), and now timing their silver action (aware of the benefits of buying on a “dip”).

This “think for myself” mentality is exactly what it will take to sludge through 2013 and beyond.

TPS exchanged an email or two with this reader and I’m willing to bet a bullion ounce of silver they will soon buy some, if not already. We can look at today’s mania around the gun and ammo craze as a perfect example of future PM demand. A combination of fear and reality has nearly emptied gun store shelves. The run to silver will soon follow the same type of mania. The reason I know this rests in the paragraph below.

The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins.  As a result, sales are suspended until we can build up an inventory of these coins.  Sales will resume on or about the week of January 28, 2013, via the allocation process. GOLDSILVER.COM

Any event can trigger a run to silver that leads to an “allocation process“. This is something we’ve written about many times on TPS and completely expect to soon witness. My gut tells me silver allocations will become spotty and then turn into a common part of the PM marketplace.

My advice, for those who choose to own silver, is to build your stack before silver allocation rules the silver market. This demand will affect silver prices both positively and negatively depending on what side of silver ownership you’re sitting.

 

DC Carlton is the founder of The Prospector Site and author of Why Silver and Gold Will Go Higher. Feel free to register here for his free online newsletter that provides precious metal insight rarely mentioned from mainstream media sources

 

 

 

 

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WHAT KIND OF GOLD NUT ARE YOU?

BUY AMERICAN, BUYING GOLD/SILVER, GOLD & SILVER, GOLD AND MONEY, GOLD OR SILVER BUBBLE   No comments yet

Let’s face the facts.  Since you are reading The Prospector Site you obviously are one of two types of crazy.  No I’m not putting anyone down just calling it like I see it.  Economic conditions like this bring out the nut-jobs making it easy to see why the mainstream gives little credence in assets like gold, silver, guns, or other self-reliant  preservation type stuff.  But does owning gold or preparing for tough times really classify a person as a nut?  Today we ask just what kind of crazy are you?


Type 1:

This type is growing in record numbers of folks like you no longer buying into the notion unlimited money printing leads to economic prosperity. This type no longer believes more government means more prosperity and is willing to stand up for organizations like the Tea Party.  This type cares little if Democrat or Republican but is all about a constitutional motivated form of government willing to live off moderate to low tax revenues.  I guess I fall into this type and I’m hoping most our readers do as well.  

Gold fits in nicely with this type because they no longer trust a currency based on nothing and more worthless each day. This person understands a limited government creates a strong society and economic prosperity without mandates like personal health care.  Redistribution of wealth is not part of this types lifestyle but helping those truly in need certainly is.  If you listen to political leaders, the left, and mainstream media you are some kind of crazy if you fall into this type.

Type 2:

This type believes our current economic decline could lead to Mad Max type social unrest, major wars, and a complete currency breakdown. They buy gold and silver not only to preserve wealth but as a tool for barter after a dollar collapse.  Water filters, kerosene, night vision all play a part in this type of gold owner.  Credibility, once rare, is growing with this type but the fact is most folks still haven’t excepted the size of our economic quagmire.  Some folks within this type, wrong or not, sell doom & gloom yet find some way to prosper from it.

Here is my take on type 2.  I have no idea what the future holds but I do believe countries like ours are built on solid principles and most are not afraid of hard work and risk.  We certainly have drifted from what built our great country but if economic shakeout is what it takes to get back to small government and self-reliance then so be it.  I do agree that this type sets a good example of preparedness for disasters of all kinds.  The one common thread both types have is the importance of owning real money like gold and silver.

We have a lot today so I want to keep moving but let me know what type of gold nut you are.  Feel free to leave comments here.


BUY AMERICAN UPDATE:

If you have followed our site then you know we are all about buying local and buying American. Recent news of a mega country music star putting his effort into buying American is exactly what our country needs to bring jobs back home.  Toby Keith has asked his merchandising manager to make and sell everything related to Toby Keith to be made right here in the USA.  Other country acts are getting on board and I can’t say enough about the commitment Mr. Keith is making.  CHECK OUT TOBY KEITH’S MADE IN AMERICAN SITE HERE.

READER’S QUESTION:

Your post Ways to Profit From the Next Depression makes life sound no fun at all.  Can you expand on the timing?

ANSWER:

Thanks for reading our site and thanks for commenting on Ways to Profit From the Next Depression. Let be clear on at least one thing.  No one knows what our economic future will bring, certainly not myself, but there is little doubt depression is the direction of most economies around the world.  Unlike the last depression our world is connected like never before.  No longer are currencies pegged to gold so budget shortfalls are “fixed” by printing more money.  The problem is nearly all currencies are racking up huge deficits simultaneously.

Profiting from a depression is more about making lemonade from rotten lemons.  I would much rather see an overall healthy economy and quality of life over my gold or silver profiting.  The fact remains until those in power make real change self-reliant people will need gold, prudence, faith, and ways to profit from the upcoming depression.  Thanks again for the question.

BIG GOLD CORRECTION:

I haven’t turned on the news this morning but I’ll bet the media will talk about how overvalued gold is and ask “experts” about a possible bubble. If you are relatively new to gold, or silver, please stay strong to your commitment to own metal.  Like we have posted many times huge swings are to be expected as gold climbs.  Take advantage of these dips if more gold and silver are part of your financial plan.  The next wave of bad economic news will bring gold back to necessity level therefore driving the price up even more.  Very easy to predict.

NEWS WORTHY:

“We all knew it was coming, it was really a matter of when,” said Phil Streible, senior market strategist at MFGlobal. “In 10 days prices went from $1,700 to $1,900.”

“We haven’t had a correction, other than brief correction, since the $1,500s,” he said. “I don’t see it going down there, but we needed a good correction.”

Either way, the analysts said this break in gold won’t have the same severity that the price break in silver experienced this spring when it fell 30%. “This market is very different from silver. Gold is trading as a currency, whether you believe it is money or not…. The reasons that have caused people to put capital into gold have not been solved,” Lesh said.  KITCO NEWS.  Read more right here.


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BUCKET LIST FOR ECONOMIC SURVIVAL

BUY AMERICAN, BUYING GOLD/SILVER, GOLD & REAL ESTATE, GOLD & SILVER, GOLD AND MONEY, SOCIAL UNREST, STOCKS AND GOLD/SILVER, SURVIVAL & GOLD/SILVER   1 comment

Today is beginning to show the same investor uneasiness as 2008.  The Obama administration is peeved at the S & P downgrade shouting from the White House roof top that S & P has the deficit overstated.  I’m sitting here wondering what took the S & P so long to realize what millions already know.  I’m also wondering why so many investors are surprised when economic warning signs look like the lights of Las Vegas two hours before New Years.  If you haven’t started your bucket list for economic survival I urge you to do so soon.


Not sure if it is a blessing or curse but I’m a thinker. Over my business life I have always tried to foresee a future situation and have a plan for the outcome.  This economic restructure, depression, that we are facing is no different.  I started my economic bucket list several years ago and very glad I did.  But this post is about you and your list and my goal is to establish a foundation you can build your list from.  For the record this list is not about wants but needs since I see little benefit in a Greek Island vacation at least at this point.

The Prospector Site is 100% committed to gold/ silver today and have both metals at the very top of our list. But the unfortunate truth is precious metal does little to help provide income unless you are willing to sell the golden goose in exchange for milk, fuel, or rent.  If you are one of the many just getting by gold and silver are most likely just beyond the point of ownership, this I understand.  I still recommend selling something not needed taking the proceeds into silver if nothing else.  Let’s put precious metal second from the top of your list realizing a little metal is better than nothing at all.

BUCKET LIST:

CALM: Calm might seem odd at #1 on the Bucket List but as I’m writing this post journalists are in full sprint trying to make sense of credit downgrade, stock future decline, and a sixty dollar overnight gold surge.  Here are the facts.  The fix-all for overspending is more debt and this has been going on for decades but just now catching up with those irresponsible.  Gold is overreacting to this panic and should, likely, settle down a bit soon.  Stocks are all over because folks around the world are coming to realize recovery was a myth spread by those seeking reelection.  All of the above is a natural economic purge needed to cut government size and involvement.  To panic will only create more confusion so my recommendation is to not take part in panic but calmly prepare for more pain from less government.

GOLD & SILVER: No big surprise here.  Trade dollars for hard assets when possible.

FRESH INCOME SOURCE: If is very important to realize your profession, or job, could soon provide less income than needed.  The new forty hour work week is something like 30 hours and the fact is most of us are not earning what we once did.  As bad as it seems new opportunities surface for those looking so follow the money flow.  My recommendation is anything related to self-sufficiency and protection.  If you haven’t done so please read a recent post on new trends and income opportunities here.

CUT “WANTS” LOOSE: I personally know of several examples of friends holding onto second homes, second cars, hoping things will turn around.  Selling now and for less is hard for many but the truth is residential real estate, car, boats, trucks, ATVs,  etc won’t appreciate anytime soon.  Most will rapidly depreciate as masses begin to liquidate willing to take what new discount buyers will give.  As credit declines so will values so give serious thought to cutting loose of what is not needed.

MOVE OUT OF DOLLARS: Nearly all things dollar based are and will be taking a hit as assets reestablish true value based on real money like gold and silver.  Look no further than residential real estate as proof.  As credit availability declines so will artificial values of most dollar backed assets.  A good trade for dollars is hard assets like gold and silver but items of necessity will work too.

PROTECTION: Does it seem odd to include protection on the economic bucket list?  It shouldn’t because what good is owning gold, silver, food supplies, or cash if you can’t protect them.  Economic downturn always equals social unrest so making a plan for protection is prudent.  If having a weapon in the house makes you nervous get over it.  Facts show those able to protect themselves are far less likely to become victims in times like we are heading.  Teach children in the home safe handling and respect of firearms and explain why you own them.

BUY AMERICAN: I realize it is difficult these days to buy American but it must happen if we want job improvement.  The days of outsourcing jobs to cheap labor countries must end and if enough demand local hands create local products this will change.

SERVE: By far the most satisfying part of writing for The Prospector Site is realizing many folks use this information to improve their lives. This current economic restructure will catch many by surprise and your help will be needed.  Some of these needy folks will be people sharing your last name.  Find a way to improve other people’s lives when possible.  Churches, clubs, and organizations will have to fill local need as government programs and help shrinks.

Thanks for reading and feel free to sign up for our online newsletter here.


NEWS WORTHY:

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default” said Greenspan on NBC’s Meet the Press

“What I think the S&P thing did was to hit a nerve that there’s something basically bad going on, and it’s hit the self-esteem of the United States, the psyche” said Greenspan.  CNBC:  Read it here.

NEWS WORTHY:

Investors, clearly rattled by the S&P move rushed to perceived safe-haven investments, such as gold. Gold futures for December delivery /quotes/zigman/661658 GC1Z +3.12% rallied nearly $56.70 to $1,708.60 an ounce.

Steen Jakobsen, chief economist at Saxo Bank, agreed. “People will start very, very defensively, but if the market keeps momentum into the close, you could see a rally in markets in New York,” said Jakobsen.  MARKET WATCH: Read it here.

NEWS WORTHY:

A mooted third round of quantitative easing [cnbc explains] (QE3) in the U.S. and more money printing elsewhere is merely deferring a crisis that will be bigger and could end in war, Faber said.

“I think Treasurys are perceived still as a safe haven because everybody knows the U.S. has an endless ability to print money. The interest will be paid,” he said. “The trouble is that governments can default in two ways. Either they just stop paying the interest and there is a debt restructuring, like Argentina went through; or they just pay the interest and the principle eventually, in a worthless currency. That’s the way the U.S. will likely do it.”  CNBC:  Read it here.


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READER ASKS: WHERE ARE THE AMERICAN MADE FIREWORKS?

BUY AMERICAN   1 comment

Happy 4th of July America.  Today is a huge celebration of freedom and independence and days like this is exactly what The Prospector Site is all about.  We have mentioned the revival of Made in America and I can’t think of a better trend.

The scene yesterday as I took my kids to buy fireworks summed up the problem within today’s society.  Many of the folks were buying Chinese made fireworks with their Visa card.  Do I need to say more?  This leads us to answer can American made fireworks still be found in the good old USA?


ANSWER:

Great question so let’s dive in.  When talking fireworks we have two types.  One is the type you and I took our kids to buy from a roadside stand. Let’s call this novelty type or consumer fireworks.  These, with exception of one USA company, are nearly all foreign-made ( Black Cat’s website has an American Made section but it’s limited).  The lone standing American made company, according to our research, is Diamond Sparklers so kudos to them.  The bottom line here is if your child lights it most likely it’s Chines made.

The second firework type is display fireworks and these are the ones like in the picture above.  Most of these bombs are American made and this market makes up about 1/3 of overall fireworks sold in the US.  So as your 4th of July comes to an end tonight feel good that your colorful display overhead was made by hands of Americans.  Look for a trend to buy American fireworks of both kinds sweeping America soon.  Now go have some fun.

Sources for American made consumer fireworks:





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