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Archive for November, 2012

CONQUERING THE “FEAR FACTOR” WITH SILVER

BUYING GOLD/SILVER, GOLD & REAL ESTATE, GOLD & SILVER, GOLD AND MONEY, SOCIAL UNREST, Uncategorized   No comments yet

If you find yourself anxiously searching for answers in a time of great complexity then today’s post is for you. I see two trends that lead me to believe many folks are reacting to an emotion that has consumed the soul of man for thousands of years. Yesterday’s news was no surprise, not to me at least. It seems gun sales are up nearly 20% this Black Friday over last. Why, because people are afraid? Maybe this is why gold and silver sales are up comparably, too. So, before you buy another ounce, or AK-47, please read the following closely.

“He who fears something gives it power over him.  Author: Moorish proverb

You are wise to investigate why silver and gold are so necessary in such an age like the one we live today. But your decision…or motivation must go beyond a fearful reaction to preserve and protect what you’ve worked hard for. I realize this is something easier said than done.

An opportunity to own silver and (or) gold must be part of an overall commitment to develop a life of independence.  For me this decision is one I made over a decade ago as I realized something wasn’t right with the way we send currency (you may call it money) to Wall Street and then pray someone we don’t know takes proper care of it.

The thought of endless currency creation didn’t make sense either. How is it that I work so hard – for something like dollars – when others can create more on a whim…..accountable to no one and then give this newly created cash to only a chosen few?

Like you, I receive many PM newsletters but lately nearly everything written is based on a fearful projection of our future. Tales of currency collapse, social unrest, war, riots and other terrible forms of crisis. Maybe it’s time we break down our worst fears and then compile a “what if” plan not calculated from fear but God given common sense.

Do you realize all the terrible fears described above already take place as you read this post? The USD has lost 95% since it unhinged from gold; I would have to describe this as a “currency collapse”.  Social unrest fills our inner city streets as millions live a gang related life few of us can imagine (over 7 million people are on probation, parole, jail or prison in the US). Spend an hour in the city of Compton and you will have no doubt “social unrest” is prevalent today. Wars are rampant, in fact our youth have yet to live a day when our country wasn’t at war. It seems each evening we hear of yet another riot as Europeans realize bigger government is not the answer.

Wealth stored in silver or gold is about creating opportunities, like the opportunity to establish your own monetary policy. The opportunity to serve others, worship, store supplies, afford a weapon of protection and most importantly, the opportunity to pick your family up and move them elsewhere. These opportunities I’m describing today have nothing to do with fear. Sure fear may spark the motivation necessary to re-direct but fear shouldn’t lead.

I recall an email we received here at TPS not long ago. This reader was very concerned that the banking system is close to collapse and ultimately destroy the wealth of millions. Folks, I have news for all who will listen. The banking system, as we know it, only stands because of the trillions of dollars “borrowed” from the Federal Reserve Bank. This fiat system based on fractional reserve currency creation is a short-term experiment soon to show it uselessness.

Eventually inflation will erode the wealth of those unprotected. Some of this wealth will disappear and some will transfer to the few who hold silver, gold, and other “real assets”. You may ask why our elected leaders fail to warn of such a destruction of wealth but the truth is Congressman Ron Paul has done so for years.

Our banking system will someday “correct” itself or risk becoming obsolete. This is why a savings in “real money” is so necessary. Please allow your common sense to override your perception of reality; fear has nothing to do with such prudence.

Most of you know I authored a book called “Why Silver & Gold Will Go Higher”. One of the reasons both metals will elevated is, unfortunately, because of fear as millions realize what you already know. Please don’t include yourself on the fear list. Seek out unbiased precious metal sources to educate and then let wisdom supersede fear.

QUESTION:  If you had to choose just one would it be to buy silver or gold? Love the site, thanks.

TPS Reply: Thanks for the question, and reading TPS. Right now I would have to pick silver over gold, no doubt about it and here is why. So many folks around the globe are realizing the banking system is rigged and their wealth is in jeopardy. They are, or soon will be, desperately searching for a safe haven and many can’t afford gold. But they can afford physical silver and will buy boatloads of it while they still can. I completely expect to see silver inventories depleted as the masses attempt to protect wealth and then store it outside of the banking system.

Personally, I would buy $100 an ounce silver today, if necessary. I would rather risk paying too much for silver than watch my wealth disappear on Wall Street or disappear through inflation. Remember, most of the world is free to own a very limited supply of physical silver. Silver is unlike gold, once silver is used as a commodity it rarely returns to a physical form. I recommend taking a hard look at silver bullion, rounds or bars soon.

QUESTION:  Thank you for providing useful PM info for those of use new to silver and gold investing. My question today pertains to our wealth in real estate, particularly our home we live in. You mentioned the danger of wealth disappearing in our homes as values decline but lately we have seen the opposite. Our community has experienced an increase in sales that resulted in an increase in home values. Do you feel this trend will continue? We are seriously considering selling our home and renting but hesitant to sale while values are trending upward. Thanks.

TPS Reply: Great question so thanks for asking. I agree with your assessment that values in residential property are increasing after losing around 40% from peak bubble. You are wise to question the return of equity so congrats. We must ask why housing has turned around to answer if this trend will continue. The fact is most of today’s buyers are investors looking to take advantage of perceived bargains and low interest rates. These historically low rates are compliments of a federal government willing to backstop a housing market (low rates also allow our government to borrow trillions at historically low rates).

Our government will do everything possible to support real estate values because every new mortgage is the creation of currency the Feds don’t have to print. Our economy depends on consumption and new mortgages are great for a debt-based economy. Now, it’s my turn to ask you a few questions. What do you think will happen when the only lender in the land (US Government) realizes it cannot backstop mortgages forever? Do you realize no other banking institution can or will take the risk that our government provides today? Do you realize taxpayers are on the hook for every foreclosed property the gov’t insures?

This is why I view today’s real estate market as the housing meltdown 2.0 considering this is not a real market built on unassisted economic forces. Having said that, no two markets are alike and your home could sustain or grow in value. It is possible this administration will beg, borrow and steal to support housing for the next four years, who knows.

For the record, I still own my home because it is part of an overall plan of self reliance and my cost of ownership is far less than my local rates to rent. Hope this helps because I realize you are facing a very tough decision.

 

 

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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THE THIEF WE CALL “BLACK FRIDAY”

BUYING GOLD/SILVER, GOLD/SILVER COINS, STOCKS AND GOLD/SILVER   No comments yet

Isn’t it fun to spend money? I love to watch advertisers flirt with our pocketbooks this time of year just before Thanksgiving. You have to admit, their ads are catchy as actors smile over a new car tempting the rest of us why we deserve one too. The question I want to ask readers today is can advertisers trick us one last year? Is this the year we, collectively, say enough is enough by no longer willing to exchange debt for the illusion of fulfillment and happiness? I have my doubts.

I have a confession, I’ve yet to participate in Black Friday shopping….but this year is different. My wife convinced me to travel to our nearest big city, and then bite and crawl our way to a bargain we don’t really need. The only consolation is we have earned the right to participate in such mayhem. We have a savings of gold, savings of silver, and a level of debt that can never control or compromise what we have worked hard to amass. The same cannot be said for the other 99% shopping.

This holiday season’s success hinges on a economy that still stands only because of a government’s willingness to replace capitalism with fascism. Does this last sentence sound harsh? Fascism is nothing more than a corporate /government merger. This merger is the only thing holding the illusion of recovery, and Black Friday, together one more year.

You, nor I, can control a Congress unwilling to accept the defeat of a failed fiat currency. What we can control, or refuse to accept, is a belief that society can continue to move forward in a harmonious fashion while the walls of debt constrict around us.

The longer I write for TPS the more I’m convinced that most folks refuse to accept America’s peril because they have no clue how to protect themselves. They still believe the US Dollar is money, college education equals a good job, and their pension will be there when needed.

These same folks cannot explain why gold & silver climb. They refuse to admit the undeniable and willingly accept a reason to celebrate days like Black Friday by compromising the ability to think for themselves. They lack the ability to self educate, they accept fake money and, worse yet, they accept more government as the answer.

For them, silver and gold are a million miles away. We accept an economy dependent on spending, and Black Friday, because we no longer understand a true working economy. We accept an economy dependent on spending because we lack the education and common sense that will no longer accept such monetary bigotry.

This is why so many will stand in line to buy worthless items made from afar but not own one single ounce of gold.

A country willing to believe in fake money and a fake economy will willingly accept the loss of liberties and freedoms. What choice will they have without the ability to think for themselves or understand real assets like silver and gold?

I’m sorry to sound pessimistic, really. My goal is to motivate each of you, without bias, to individually research why silver and gold will go higher in the very near future. The motivation to own physical PM (precious metal) need not come from fear, uncertainty, or anything other than a true understanding of real money and then the willingness to react accordingly.

QUESTION:  TPS – Thanks for the great site.  I made my first PM purchase 2 1/2 years ago through a self-directed IRA buying some gold and some silver.  Because the metals are held in an IRA, I was not able to take delivery of them.  They are stored in the Delaware Depository.  Sterling Trust is my agent/broker who put this deal together.  I have never received anything from the Delaware Depository saying my PMs are there although I do get quarterly statements from Sterling Trust which accurately reflect the value of my PMs.  

What can I do to satisfy myself that my PMs are safely there?  Additionally, I turn 59 1/2 in March of next year at which time I could liquidate my IRA without penalty and then take physical delivery of the PMs.  Are you familiar with Sterling Trust and the Delaware Depository and do you feel these are safe places to do business with?  I would deeply appreciate your recommendations.

TPS Reply: Great move with the self-directed IRA. I’m guessing you’ve realized a 40% return on gold and close to a 100% return on silver, good for you. We are now living in an age where all things real must be questioned regardless how large the entrusted institution or depository. Sterling Trust appears solid and I’ve not heard anything that leads me to question their reputation. The problem is many trusted advisers, agents and brokers are only as good as the institutions who hold the wealth, and I’m not just talking PMs. Look at MF Global as a perfect example.

I don’t give pinpoint financial advice but will tell all readers what I would do if in your shoes. I would liquidate, in March, and then take physical ownership of my metal (just as you mention). I would start the process now by making calls or emails asking for the exact procedure to take physical delivery so no one is surprised come March 2013.

I doubt a company like Sterling Trust will risk their reputation unless Delaware Depository is worthy as a PM depositor. I think it’s good for you to question but I also think you have little to worry about. Regardless, taking possession puts you one step closer to where all physical precious metal holders should be. Thanks for the great question and drop me an email in March so we can both celebrate your efforts.

 

QUESTION:  I just had a thought recently about joining one of the several Gold Prospecting clubs here in CO to go look for gold myself.  Do you have any experience with clubs such as this and what are your thoughts on this activity?

 Hope you are well – Happy Thanksgiving.

TPS Reply:  I’m great, and Happy Thanksgiving to you and all TPS readers. You must be reading my mind since I have toyed with the prospect of prospecting. I know little about such a venture but the thought of digging gold from the earth or stream is every man’s desire and every boy’s dream. I do receive calls from prospectors from time to time asking my opinion on future gold but most are extremely secretive on location (one actually asked to keep the conversation short since he was sure my phone is monitored by Big Gov’t), oh boy.

Prospecting gold is the ultimate definition of “untraceable” precious metal. States like Colorado (as you mention), Nevada, California, Wyoming and Montana have a deep history of gold prospecting and I have no doubt more gold is findable since the gold rush days. Streams change, rivers recourse, and the only constant is a growing value of silver and gold. Sounds like a great way to spend the weekend to me so good luck and happy prospecting.

 

QUESTION:  Shopping for Christmas and considering PM as gifts. Any ideas?

TPS Reply: Yes, and thanks for asking because I meant to bring this up. Silver bullion, rounds and bars make perfect Christmas gifts but I do have a suggestion or two. Don’t spend your cash on collector coins nicely boxed unless this is something a person really has asked for. Collector coins, proofs, carry a substantial premium over spot and to be honest I don’t think they are worth what most are paying.

Your local coin shop is a perfect place to find low premium silver and they can help with a coin protector to boot. Oh, this year could be different but last year we realized a significant drop in PMs at year’s end. Might be worth waiting a few weeks to see if PM prices do the same in 2012. Thanks for the question, and reading TPS.

 

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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THE ONLY PROTECTION LEFT…..SILVER & GOLD

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

Listening to Congress argue over increasing your taxes reminds me of trick I used to play on my boys many years ago. As they crawled into bed I would lean into their room all while hiding the light switch closest to their door. With my free hand I would raise it high in the air asking my boys if dad had the magic to cut the lights with nothing more than a snap of the finger. What they didn’t realize was my other hand, blocked by my body, could flip the switch off simultaneously. The trick worked many times before my oldest let reason supersede the magic of his father. Today, our elected officials play the same cute little trick on the masses as we fall for the same taxation dog and pony show over again.

I love the exposure power of precious metals. Regardless the deceit, regardless the monetary games, silver and gold continue to expose the obvious for those willing to accept that ones in power refuse to admit a failed fiat system will only continue to erode what you and I have worked hard to amass.

Some of you reading today are new to precious metal which means you’re new to TPS (The Prospector Site). First, thanks for joining us today but especially thanks for joining the minority that refuse to accept the word “recovery” at face value.

There is zero chance that record debt creation will create a long-term healthy economy and the only way to protect you and your family is to make a proactive approach by insulating your wealth from taxation and inflation.

The trick we must discuss today now plagues not only the USA but most countries worldwide. All of us living in the US must burden the lion’s share of responsibility since we are the only voters capable of stemming the trickery I wish to discuss today. We are the only nation capable of creating more of the world’s reserve currency (US Dollars); therefore, each citizen of this country is responsible in some capacity or another.

Think back, if you will, of my silly trickery shared with my little boys and the hidden switch. My left hand represented today’s argument for taxation by drawing our attention. The news over my shoulder, as I write this post, cackles with left and right leaning personalities arguing who should pay more taxes in order to resolve this “fiscal cliff” rhetoric that fills our news.

This is the same argument we heard last year, and the year before. What if I told you this argument is nothing more than an illusion, or distraction, while central banks around the world create more currency backed by nothing more than your continuation to accept paper as money!

The argument of taxation creates the smokescreen necessary to push the problem one more day down the road and only because we continue to watch a political version of my hand slowly rising to an attention grabbing position. Some of you might ask what the big deal is since we’ve had deficits as long as most reading lived. I’m glad you asked.

Those elected need not raise taxes as long as you accept printing more money. You see, the easiest taxation ever created is the power of inflation since inflation doesn’t appear on a W-2 or year-end tax returns. Those requesting your vote realize the danger of taxing you directly but relish in the ability to tax you by way of inflation.

Please don’t take this wrong but such political power derives from our monetary ignorance, sorry.

If you ask how high silver or gold will rise I have a simplified way to answer your question. Real money (metal) will rise as high as necessary to counterbalance real money with inflation. Will gold rise to $5000 an ounce, maybe silver to $500? Can you imagine what happens to PM prices when we dump fear, uncertainty, and a very limited supply of silver /gold into our bowl of inflation?

The evidence is all around us. It’s at your grocery store, gas station, local utility, everywhere. It’s most evident at your local coin shop who now charges around $24,000 for $1000 of face value legal tender coins made from silver. Folks, these coins…… not long ago I might add, traded dead even with dollars. Now it takes 24 times more dollars to buy the same amount of silver. Welcome to inflation 101.

Our silver example exposes inflation when we consider 95% of our dollar’s buying power disappeared over one generation. Folks, we borrowed more money as a country over the last 5 years than over the previous 200 years. How can anyone argue recovery over inflation?

This type of inflation is tolerable when a debt based / consumer based economy supported growing wages but these days no longer exist….at least not for most of us. Can your income keep par with the level of inflation I’m describing today? If not, my advice is to relocate some of your wealth to precious metal, SOON.

The trick that steals your money is this simple. One way or another we all pay for the monetary mismanagement described today, we pay more in taxes or we pay more thanks to inflation.

LAST WORD…..at least until we try to answer some of your questions. Since the presidential election TPS has received an extraordinarily number of comments and questions. Thank you. This tells me folks are very concerned and looking for real answers in a time of uncertainty but fortunately many of you are considering silver and gold. I encourage each reader to continue their quest to find monetary truths and congratulate each of you for your effort.

WORTH REPEATING:

 November 9, 2012: “The Fed’s paper money system is the major source of economic suffering today. It is the reason that Congress can’t control its spending. It’s why it can fund wars and the police state. The paper money monopoly distorts economic signals and causes booms and busts. It robs the American people with the insidious tax called inflation. We must never forget that the Fed has the massive power it does only because of paper money. If it were restrained by a gold standard or monetary competition, the Fed would be a menace, but not a mortal threat. As it is, the Fed, and, by extension, the government itself, holds our entire economic future hostage.”  Dr. Ron Paul

For those who believe taxing the rich is the answer I want to share the Youtube clip below. It is sobering to say the least.

 

QUESTION: Why does the price for gold have such a close relationship with the price of oil? It’s easy for me to understand the price of gold [PM] following the value of the fiat dollar, but how is that related to the price of oil?
I might note that I have dealt with Don Stott, coloradogold.com on six different purchases, and could not give a stronger recommendation. Everything goes exactly as they say, and you have nothing to worry about. Thanks for the help.

TPS Reply:  Great question so thanks for asking. Oil, since the early 1970s, is priced in USDs and this is why we often hear the term “petrodollars“. It makes sense that oil and gold appear in lockstep when we consider both expose today’s declining power of fiat dollars.

Something else parlays oil and gold together and it can be summed up in one word, volatility. The conflict building in the Middle East has the potential to send both commodities beyond the affordability of over 90% of the world. Think how our economy now depends on oil to make the economic circle complete. Many folks in the US rely on goods transported over 1000 miles yet never consider how $200 a barrel oil affects the household budget. We have a choice to buy silver or gold, or not, but all things oil dependent are a much different story.

Today’s ratio (gold to oil) shows oil under priced so don’t be surprised to see oil rebound over the short term. The average ratio since 1970 is 14 – 15 oil barrels per gold ounce but today’s gold buys closer to 20 barrels. My bet is oil will rebound well before gold prices decline but who knows in such a volatile age of monetary manipulation.

Good call on the oil to gold relationship and thanks for validating Colorado Gold as a reliable source for physical silver and gold.

 

COMMENT:  Just found TPS.  After reading Aftershock (Wiedemers’ version) and Doug Eberhardt’s “Buying Gold and Silver Safely“, reading what I have here and seeing the same logic being applied to the world’s bubble economy and the realities of money printing, it is good to continue to find sources that agree with the Wiedemer’s and Doug in how to protect ourselves.

TPS Reply:  Yep, I agree and thanks for pointing out solid economic and PM information. Aftershock book is one often mentioned on this site since I’ve had long conversations with one of the three authors. It is impossible to not recognize economic bubbles after spending a couple hundred pages reading example after example why assets spike and then quickly lose value.

One event that helped me to truly understand PM comes from the 1980 gold era when metal spiked to just over $850 an ounce only to tumble in the months soon after. The gold bubble of 1979 to 1980 proves how the herd rushes into an asset late but just in time for the slaughter. Wise metal owners sold gold from the backdoor while the masses pushed and shoved trying to find the front door as coin shops struggled to meet demand.

I encourage each person new to PM to research how 2012 /2013 are different than the bubble days of 1980. Gold is off the radar of most investors /individuals considering it is estimated less than 2% own physical PM. Will gold’s relatively unknown status change someday? You bet it will and we’ll be right here to break down how current events affect today’s PM market.

Thanks for finding TPS!!

 

QUESTION:  Hi, I’ve recently become interested in buying gold and silver.  However, I am not thrilled about owning physical metals.  I would much prefer to own something like the SPDR Gold Trust.  I just wanted to get your opinion on owning gold via this method rather than the physical option and also if there is an equivalent silver trust that you like.  Thanks for the help.

TPS Reply:  Thanks for your questions. SPDR Gold Trust is one of many ETFs (exchange traded funds) that allow an investor to invest in metal without actually physically owning it. An investor sends cash to Wall Street and then hopes financial institutions promote your wealth in a favorable fashion. You are wise to show interest in silver and gold but I have reservations about anything owned but not held (allocated).

Owning silver and gold is part of a overall plan to shelter a family from uncontrollable economic conditions stemming from a fiat currency explosion.  The reason more and more search out assets like physical PM is to create an individual monetary system outside the financial establishment. PMs are the foundation to financial independence and have been for thousands of years, this will not change anytime soon.

The monies we hold in our bank accounts and wallets are no longer money, they are promissory. Too many have abused this fiat system we still call money and this is why TPS readers prefer real assets like silver and gold. I’m far more comfortable with you owning real physical metal first and then speculating on PM ETFs down the road.

By the way, if storing metal is not for you why not check out BullionVault or GoldMoney since both allow investors to buy real metal, close to spot (paper) price to boot, without the hassles of personal storage. Regardless, thanks for the questions and thanks for reading TPS.

 

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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SHOULD WE “CELEBRATE” AMERICA?

GOLD & SILVER, GOLD/SILVER COINS, SECURING GOLD & SILVER   No comments yet

It is 3 am and less than 72 hours after the 2012 election outcome…… and I can’t sleep. My sleeplessness doesn’t come from a celebratory nature, nor does it come from a disappointment over who was elected. The fact is over 50% in the US are joyful because President Obama found far more than enough electoral numbers to serve this country another four years.  Now I realize many of our readers are not happy about this and some of you are not shy about voicing such disappointment. Regardless your joy – regardless your disappointment, the fact is both silver/ gold will rise and the reasons why greatly concern me.

Maybe my uneasiness comes from a conversation my wife and I had after dinner last night. My wife shared the struggle of an acquaintance that raises three children, while working full time, and without consistent support from their father. This person makes, I’m guessing, around $16 per hour but mentioned to my wife she has $47 in her bank account and seven days until her next paycheck. This person is the face of Middle America.

Something happened election night that still turns my stomach at the thought. My repulsiveness has nothing to do with red or blue, nothing to do with democrat or republican. What makes me spitting mad is the celebration that took place in Chicago that included thousands dancing and singing like something great was accomplished.

Somewhere behind the confetti and the balloons sits a realization that little over the last few years justifies celebration.

This administration is quick to point out our current economic plight as one they inherited but improving. Few mention the level of debt necessary to create such a monetary illusion. I’m guessing there is some truth to this but inherited or not the pain that spreads across America is not one deserving of celebration, certainly not while a silent economic depression grips our country.

Are we celebrating the unconscionable levels of debt soon to be strapped to the backs of our unborn children? Are we celebrating the record numbers on food stamps or disability? Never before are so many dependent on such safety nets and never before are so many willing to question those using such programs.

When the costs of necessities inflate ( because of excessive currency printing) it provides the excuse or necessity for more Americans to join the ranks of the million plus others who rely on the government to get by. I see nothing worth celebrating as more lose the independent nature this great country was built on.

Are we celebrating the fact our middle class is declining at a record pace with most falling toward the poverty abyss or are we celebrating the struggle of millions like the aforementioned mother of three trying to stretch $47 to next payday?

A celebration like the one we witnessed only proves a lack of respect and monetary awareness….in my opinion. Folks, this celebratory nature is not limited to politics, unfortunately. Even professional athletes now celebrate mediocre accomplishments on the field almost like they didn’t expect achievement. Isn’t this what they’re paid to do after all?

Creating such a spectacle makes me long for the humbleness of yesterday…..and I’m not just talking athletics.  Isn’t it time leadership in America returns to a respectful level of leadership and less individualism?

Some of us have reason to celebrate but do not. The fact is gold has doubled in dollar value while Mr. Obama served his first term in office. Should I celebrate in my front yard by spinning my coin of gold on my sidewalk all while thrusting my arms up high?

It sickens me that my stash of gold doubled in value over such a short time because each time PMs rise the plight of young mothers, elderly, poor, and now our middle class, WORSENS. Of course each PM owners should be proud of such prudence but public celebration? I don’t think so. I find nothing worth celebrating when millions of Americans battle for independence while millions more compromise to a government feed bag.

Maybe it’s time we hold the celebration until something truly good happens across America.

QUESTION:  Keeping your PM in a bank security box is good or bad?

TPS Reply: Thanks for the tiny question and the answer is “yes”. Long-term storage carries far more risk than those who use a bank box for short-term storage while temporarily away. TPS has many snowbird readers who aren’t comfortable storing metal at home so they move it to a bank box while the home is empty. TPS also has readers uncomfortable with home storage, in general, who would rather risk bank box storage than home storage.

It really comes down to your situation and how comfortable a person is with their local bank. I do recommend using a local community bank if using a bank storage system. I might add, there is no need to tell the bank what you’re storing (the less who know about your stash of yellow or white metal the better).

Oh, FYI. Both home stored metal and bank stored metal are insurable so email me if this is something of interest and I’ll point readers the right direction. Thanks for the question and reading TPS.

QUESTION:  Do you believe we will someday see a day of silver or gold barter? I read one of your posts where you recommended “junk silver” and then mentioned the value of silver in a day of barter economics. Care to expand?

TPS Reply: Absolutely and thanks for the great question. “Yes” I expect we will soon enter a day when those selling stuff will much prefer silver over dollars (or any other currency). I’m a little surprised PM barter is not happening more but this only shows how few truly understand today’s economic conditions (the gov’t does a good job at hiding the truth in order to stay in power).

I don’t see gold as a tool for barter as much as silver. Gold is soon to reach a point of mostly wealth storage and this will continue especially when gold surges above $3000 per ounce. Remember, inflation causes funny things to happen in economies and things unneeded decline in value while things necessary skyrocket. This is why toys like snowmobiles and travel trailers will soon rapidly decline but things like food, energy and gold will do the opposite.

Junk silver makes the perfect tool for barter because pre 1965 coins come in small packages. A good example is how a pre65 dime can buy a gallon of gas today (a one ounce gold coin can buy 500 gallons of today’s petro). All precious metal owners should hold some junk silver in my opinion especially when we factor the low premium added to junk silver. Silver is silver folks and it doesn’t have to look shiny and new to preserve wealth.

 

 

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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OBAMA, ROMNEY…..GOLD

BUYING GOLD/SILVER, GOLD AND MONEY, SELLING GOLD/SILVER   No comments yet

I overheard a friend say that this presidential election as the most important election of our lifetime.  He said the economy, freedom, future and much more hinge on the person who will call 1600 Pennsylvania Avenue home for the next four years. I, personally, couldn’t disagree more and why I live my life – and store my wealth, as far outside government influence as possible. Today I’ll explain why you should do the same.

Some of you are banking on this election while watching the last few days tick away but still unsure of the outcome. Conservatives claim a landslide while moderates and liberals declare a close election, but victory. The only political insight I can offer is that either side will print currency, or else.

What I am certain of is regardless who’s elected silver & gold will go higher….much higher.

It’s easy to become caught in today’s political process since the election dominates 24 hour news. Sure Sandy gave political pundits a reprieve but we both know hurricanes have a short shelf life, even historical ones. We are living in a media driven age full of drama, crisis, collapse, and even the slightest slip of the tongue goes viral almost instantly. Some in the media live for the next Biden gaffe while each political word is analyzed, dissected and spun to say whatever talking heads decide is most relevant.

But behind each debate rests a darkening cloud few find themselves willing to address. Sure we hear mention of debt but who really can wrap a mind around 17 trillion deficit dollars or 100 trillion in unfunded entitlements? The oddity of it is that debt itself is not what stifles the plans of whoever is elected. Everyone must realize the dependency on debt is the darkening contrast few address.

The fact is every lousy employment number, quarterly GDP number and economic forecast now factors debt into the bottom line. No one asks how much the economy would grow without debt. Few ask the value of Wall Street, the housing market, pensions, or farm land, without factoring more debt and government participation into the equation.

Sure everyone voting realizes growing debt is bad but few have felt the pain of debt dependency. The political machine is unwilling to deal with debt because those casting a vote are unwilling to accept the pain and insecurity of living within means. Please don’t mistaken today’s post as unpatriotic. I can think of nothing less patriotic than selfishly spending our country’s future to a new level of poverty just to realize “normal” one more year or three.

Although I believe it’s impossible to hide from the ill effects of too much debt this doesn’t mean I have to participate in its dependency. Many of you email asking for guidance on why and how to own precious metals; you are wise to seek out such information. What most of you are looking for, realized or not, is a source of insulation against forces you cannot control.

Storing wealth in things of real value, like silver and gold, are the foundation of such monetary prudence.

Americans and the rest of the world will soon realize our future, yours and mine, doesn’t hinge on a political party. Our American forefathers never intended on a life of governmental control and size. This is why you must begin to live a life of independence realizing those depending on perpetual debt are soon greatly affected. Does this include retirement plans, pensions, soft money investments, government subsidies, etc? Yes, how can it not?

My last words of advice this political season are these. Put as much, if not more, effort into establishing true personal financial independence as worry over who will be the next president.

QUESTION:  What about when it’s time to sell my physical silver? Who buys it and how do I know it’s a fair price?

TPS Reply:  Thanks for the question many wonder but few ask. First let me say I don’t recommend selling anytime soon unless an interruption of income comes your way (job loss, etc). Silver’s future brightens with each new quake of bad economic news. Remember, silver will go higher JUSTIFIED OR NOT. Fear and concern are real emotions and folks will continue to shield themselves monetarily as more realize the word “recovery” is nothing more than a catchy campaign slogan.

Now, to your question, silver is and will continue to be easy to liquidate since precious metals are the only worldwide currency. This means a person could wake up on a continent completely on the other side of the earth but still exchange silver or gold for the currency of local flavor. Make no mistake, silver and gold are developing into the global currency of choice so selling metal will not be a problem anytime soon.

The quickest method to turn silver back to cash is at your local coin /pawn shop. These folks trade metal for cash every day and have no problem “buying back” bullion, rounds or junk silver. A seller should expect to receive slightly over market (spot) price but less than retail. Anything less than spot should make a seller skeptical.

Larger trades provide another option for those willing to wait a week or two for a check. Most bullion brokers / dealers will buyback what they sell, too. Some even post up to date buyback pricing on their website so spend a few minutes comparing rates before committing.

DO NOT TRY TO SELL YOUR SILVER FACE TO FACE (to a private buyer) unless you personally know, and trust, the buyer. Not only is this dangerous but now someone else in your neck of the woods knows you own physical PM (precious metal). Thanks for the questions.

If you have a question, too, please feel free to send it over.

 

 

 

 

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