50 years of suppressing silver (and gold), page-52

Skol, funnily enough I also consider myself a contrarian and I consider myself a goldbug. I did start loading up on gold and silver in 2001, and I am still buying.

I do have an acre, with chickens and a vegie patch a dog a rabbit, budgies and goldfish, wife and kids, no mortgage (but a nearly undrawn line of credit), a couple of grand in the bank, a job, bullion in a safe deposit box, no guns, but a big fence and gates, generator, woodheater, water tanks, and an emergency food supply, see I did say in an earlier thread that you could call me a wacko.

Now I have been boring people at christmas parties and the likes about what was happening with the worlds debt problems and the fact that they should get into gold and silver for the best part of a decade now, do you know how many people took my advise, no one up until recently, where one person is now collecting round 50s from ebay, he buys about 5 a month, someone also asked me about buying gold at a family gathering last month, I gave him my bulllion dealers details he was talking about buying an ounce for $1200, told him it would cost him at least $1600, dont know what happened from there.

Gold and silver are still no where near mainstream, yes they are getting a bit more attention, but as far as the general public go, there is little interest, but i do agree gold is not cheap, I just bought some more 1/10th ounce tigers, cost me $180 each, you dont get much gold for a couple of hundred dollars, but then again what will a couple of hundred dollars buy anyway, 3 tanks of juice, 4 nights of fish and chips, or a family day at the footy, as I always say its all relative, but that being said I dont think that gold is expensive either.

Yes gold will peak sometime, when will that be, I will tell you 12 months after it does, only a rear view mirror will work for that. Will gold crash, I dont believe it will, and that is because fiat is in crisis, and the people who save (Chinese and Indians and asians) are losing faith in it, but still have engrained in them that gold is for holding and saving. I dont think that we will see US$650-750 again, even after a spike.

As a contrarian you had 4 years to make a risk free entry into physical gold, sometimes people where handing you money to take their gold, ($200 gold coins) being available for sometimes under $200 and coin dealers offloading them for $220-225 in quantities.

So yes you have missed the easy money IMO, it doesnt mean that golds run is over or close to over, I do have a plan to turn about half of my physical into fiat, but as I am still buying, it wont be at todays prices and it will be to buy assets, maybe property, I will sell gradually, I do hold mining shares and eptmag as well, I intend to sell eptmag when silver is running hard or when the shorts have to cover (which I think will happen).

No one is making you buy gold skol, if you are not happy with holding a lump of shiny metal, that fine, dont buy it, I on the otherhand do like shiny things, not flash things but shiny things.....my precious.

cheers grant