Bought an ounce of gold.

[youngbuck]

Gold probably getting close to it's peak.

What makes you say that? I'd be happy to read whatever information that's substantiating.

[cubical]

You are in error if you think they aren't going to look for it anyway.

Based on what? Why would they go after my gold and how are they going to do it?

[youngbuck]

They aren't going to look for gold any more extensively than they did in the 30s, and that's if (huge IF) they were going to confiscate it. They might watch as you open your safe deposit box, and things like that. I doubt house-to-house searches will occur, and if they do, gun confiscations would have had to occur first.

[cubical]

They aren't going to look for gold any more extensively than they did in the 30s, and that's if (huge IF) they were going to confiscate it. They might watch as you open your safe deposit box, and things like that. I doubt house-to-house searches will occur, and if they do, gun confiscations would have had to occur first.

but they only did it in the 30s because the dollar was linked to gold. They needed to essentially delink it in order to devalue it.

[youngbuck]

but they only did it in the 30s because the dollar was linked to gold. They needed to essentially delink it in order to devalue it.

I could imagine them trying to "relink" it, or create a whole other currency that is partially backed by gold. In such an event, it's somewhat possible that they'd want people to turn in their gold.

[kuckfeynes]

By the time the government gets desperate enough to confiscate, it will be powerless to do so effectively.
Most that are smart enough to hold it will be smart enough to hide it.
In a currency crisis, everything will be done on the black market anyway.
I don't think it will be any more difficult to find someone who wants to barter for my illegal gold than it is today to find someone who wants to buy illegal drugs (especially if there is a sudden shortage).

[Seraphim]

Yes, this was exactly my point above. Kudos.

By the time the government gets desperate enough to confiscate, it will be powerless to do so effectively.
Most that are smart enough to hold it will be smart enough to hide it.
In a currency crisis, everything will be done on the black market anyway.
I don't think it will be any more difficult to find someone who wants to barter for my illegal gold than it is today to find someone who wants to buy illegal drugs (especially if there is a sudden shortage).

[2young2vote]

Good purchase. I bought a couple silver bars recently: http://www.monarchpreciousmetals.com...mart&Itemid=53

[newuser123]

What makes you say that? I'd be happy to read whatever information that's substantiating.

Just my opinion. Of course no one can predict the markets. But gold has done this before - soared and then crashed. A gold bull market wont last forever. After all, it's just a relatively useless metal.


Disclosure: I go own gold and will be holding. I just wouldnt buy anymore at these prices. I got it back when it was 700/oz

[oyarde]

What is your guys take on hoarding nickels? Ive read some people are doing it because they are actually worth more than 5cents now (5.6) and the price of Nickel keeps going up...

I would go with WW 2 nickels , two of those hase more silver than a siver dime .