10/03/2008
I have been investigating precious metals since early 2006. I wish I had went with my gut feelings and purchased more gold and silver. I chickened out because I was told that the commodity bubble was going to pop and just listed to the naysayers when I DID my own due diligence.
Anyways, I’m heavily involved in paper gold (ticker symbol: gld, slv and dgp). But I’m so against the paper stuff…. it gets hard to hold on to physical stuff but today I went into a local coin dealer and finally loaded up on some extra gold and silver this week, since the price has gone down. Only problem is, THE SUPPLY!!! THE COIN DEALERS DO NOT HAVE ANY!!! Sad part is… basic economics 101 says, when supply is low… price goes up… yet the price has been coming down… I’ll get into details on my take of manipulation later but I went today and cleared out the whole store.
Fiat currency is collapsing… you must protect your wealth before hyperinflation kicks in. The $700 billion dollar bill has passed, as I predicted. RIP the United States Dollar… Do what ever you can to protect your wealth. My next step, load up on daily necessity before price sky rockets…
Hope for the best, prepare for the worst!!!
Oh, and here is a fellow gold bugs.
Here are some news from my country, Iceland!
On Monday one of our 3 banks got nationalized, taken over by the government. That has sent shockwaves throughout our financial system, and as a result, the credit rating of Iceland and many companies got downgraded.
In the past 3 days our currency has CRASHED. 4% on monday, 5% yesterday, and another 4% today. Already the currency (the Icelandic krona) had plummeted since the beginning of the year.
Today, $1 costs us just over 110 ISK, but 9 months ago $1 cost us only 60 ISK.
Graph showing the crash of my nations currency in the past 9 months, see the steep curve up in the most recent days:
In short, our currency is just under half of what it was at the beginning of the year.
Thank God I had purchased gold for all my savings (which was in ISK), and transferred all my money to G—Money.com… as my savings account was at the bank that almost went under.
I possibly saved all my lifes savings by taking the decision to buy gold. Imagine that. But at least I saved 55% of my savings.
You think this can’t happen to you? If you would have asked me a year ago if this was possible I would have said absolutely “no”.
Trust your instincts. The financial system is collapsing. GET OUT, GET OUT!
Interested in precious metals…
visit:
www.kitcomm.com
www.goldismoney.info
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