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Rickards on Gold Risks

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  • #16
    Re: Rickards on Gold Risks

    Aside from some collectors coins which EJ has mentiond in the past were a good deal since premiums vs the latest mint issued coins were at a minimum due to high price of gold, he seemed to have managed to offload a few hundred thousand (possibly worth closer to 1 mil) of silver in a matter of a couple of daysback when it hit $48.50. Unless you have family memebers or best friends in the coin store business or know well heads of local banks, I can't imagine how he offloaded that much physical silver in succh a short time. My gut is that it was mostly, if not all, online invested which he could dump in secods at the click of a button. To boot,he recommends on the website bullion vault - an online vehicle for pm investmnts.xcuse the typos.. am on tablet.
    Warning: Network Engineer talking economics!

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    • #17
      Re: Rickards on Gold Risks

      Originally posted by Adeptus View Post
      Aside from some collectors coins which EJ has mentiond in the past were a good deal since premiums vs the latest mint issued coins were at a minimum due to high price of gold, he seemed to have managed to offload a few hundred thousand (possibly worth closer to 1 mil) of silver in a matter of a couple of daysback when it hit $48.50. Unless you have family memebers or best friends in the coin store business or know well heads of local banks, I can't imagine how he offloaded that much physical silver in succh a short time. My gut is that it was mostly, if not all, online invested which he could dump in secods at the click of a button. To boot,he recommends on the website bullion vault - an online vehicle for pm investmnts.xcuse the typos.. am on tablet.
      Let's say someone had GLD or another paper gold asset, and it looked like a crash with the subsequent creation of a NewDollar was likely . . . .
      What good is it to sell paper assets and get Old Dollars, only to see them devalued in the next day or two? Would there be time to convert them into real property? I think not.

      Also, keep in mind that many gold owners own gold because they fear economic mayhem. So they will be particularly observant of the economic situation. If there is scary news that would suggest dumping gold, expect the gold price to drop at lightning speed.
      raja
      Boycott Big Banks Vote Out Incumbents

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      • #18
        Re: Rickards on Gold Risks

        Originally posted by raja View Post
        Let's say someone had GLD or another paper gold asset, and it looked like a crash with the subsequent creation of a NewDollar was likely . . . .
        What good is it to sell paper assets and get Old Dollars, only to see them devalued in the next day or two? Would there be time to convert them into real property? I think not.
        Step 1. Buy gold at low price
        Step 2. Sell gold at high price
        Step 3. Convert US dollars into safe fiat currency on your FX account
        Step 4. PROFIT!

        Warning: Network Engineer talking economics!

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        • #19
          Re: Rickards on Gold Risks

          Originally posted by Adeptus View Post
          Step 3. Convert US dollars into safe fiat currency on your FX account
          I forget ... is that a Type I or II error?

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          • #20
            Re: Rickards on Gold Risks

            I spoke to my account that I knwoa nd trust abotu strategies for avoiding a tax on my gold, and he said they'll egt yuo somewhere. His recommendation was to use it as a medium of exchange for real estate of some sort that generated a return. If you purchase the real estate with gold, the seller who now has your gold doesnt pay the gains tax on it, and you dont have to pay the gains tax until you sell the piece of real estate. Taxes delayed are better than taxes paid. Considering the fact that the NAR is exempt from money laundering laws, you could buy with gold, and I dont even know if someone would have to report that.

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            • #21
              Re: Rickards on Gold Risks

              I think portfolio diversification might help a big. I wonder if they'd do anything bad to alternatives to gold - e.g. platinum or palladium. You could buy a few platinum rings or anything - not necessarily in the form of investment metals. Diversify as well as possible...

              I've always been a fan of Rickards, by the way

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