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GOLD and SILVER both UP AGAIN TODAY
Let me just say one thing to everyone. We all know that 99.99% of the board loses at this sportsbetting thing in the long term. Actually, I believe its closer to 100%, but still.
Anyways, I am saying this. Just start putting your money in Gold or Silver. These are going to go up in the long term, you can count on that. Yes, they have both increased a great deal over the past decade already, but this is just the tip of the iceberg.
Right now, Gold is ~ $1395.00 and Silver is ~ $29.55 per ounce. These prices are incredibly low especially when you consider that our national debt is almost $15 trillion and that the CBO says it will be $25 trillion by the end of this decade. More likely it will be $30 Trillion +.
Also, Chinas govt as well as others have begun stockpiling mass amounts of gold in lieu of dollars which is traditionally what foreign govs have held their reserves in. China alone can buy the entire worlds supply of gold.
They can only mine like an extra 100 million ounces of gold per year and a good deal of this is consumed, but even with no consumption, that is only $140 Billion in gold added to the WORLDS supply yearly. The U.S. gov't is adding over 1 Trillion dollars to the debt this year.
the dollar is going to have an even farther drastic fall. Even some gov't officials have admitted there is no way we can pay back the 15 trillion dollars we owe. They just hope we can keep up with the interest payments which are currently about $300,000,000,000 per year at these low interest rates.
When rates rise and when the debt gets to 20 trillion, we likely wont even be able to pay the interest. If the debt is 20 trillion and the int rate is 4% ( could get there very easily ) then the interest on the debt alone would be 800 billion, which is nearly all the money the fed gov took in in all of 2010.
Im just saying, its no different for a govt than an individual. When you have all your credit maxed out so badly that its a struggle just to make the interest payments, then you know disaster is not far off.
This isnt rocket science and as you all know Im not very smart. But I do see this as it is becoming so obvious.
Now I wouldnt doubt there can be a pullback in both silver and gold, but it wont be much. But I am certain in the long run, these will both increase greatly from where they sit at right now.
So the choice is yours of course since its your money. The choice is #1, keep betting your excess money on games and just hope the ball bouces your way for a while and you get some short term happiness, all the while knowing that in the end you are going to lose at this game. You are going up against a team of experts with all the info creating these lines and you got to beat them over 52% of the time just to break even ( assuming full juice ). Its just isnt going to happen, and if we are honest with ourselves we all know its true.
Choice #2. Buy some preciouys metals, land, etc. Something that will hold its value and appreciate during this coming catastrophe, something you can look at every day and show you kids and close friends and they will all be very interested ( only your closest friends though ). But trust me, you show them a gold buffalo or gold maple or gold eagle or even a fuking gold krug, trust me they are interested in that shit.
I lost my train of thought but choose choice #2 and you will be glad you did
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Originally Posted by SBR_John
