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If and when the PM values are allowed to rise again against the USD, they will install a very large tax on the capital gain.
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If and when the PM values are allowed to rise again against the USD, they will install a very large tax on the capital gain.
Agree, that’s a common mistake many PM holders make.That'd be a lot of effort for little gain. People would just use IRAs or hide the sales of physical metals, and it wouldn't drive down the price at all, probably the opposite.
I think most PM holders aren't worried about that cause they think their metals will outlast the US government.
Agree, that’s a common mistake many PM holders make.
Maybe, who knows? Peter Schiff has been ringing that bell for a decade.I didn't say they're wrong, but who knows. I plan to pass mine on to my kids, and won't sell them unless it's for some SHTF situation, like buying our freedom from a US government run amok.
But I don't think you'll have to wait long to see PMs (and mining stocks) go nuts, it'll probably happen the next time the Fed rolls over and starts up QE again.
I think most PM holders aren't worried about that cause they know their metals will outlast the US government.
Maybe, who knows? Peter Schiff has been ringing that bell for a decade.
If you wait long enough, you might be able to buy one for a little over spot from a third party (LCS)
Eventually, weak-hearted stackers get disillusioned and trade their PMs in for sub-spot cash.
The local guys tack on a buck/TOZ and resell it. Good luck getting the bag though...
I'd rather have a Carson City Morgan...
I’ve read his books. Many people who have followed him since 2008 have lost a great deal of money and opportunity. Who knows what will transpire in the future?Schiff gets a little overzealous I think cause he sells financial products that will only do well if the dollar tanks (and he sells PMs). So he’s a bit like the Wall St ‘analyst’ types he criticizes who are trying to sell you stock and bond funds. He’s certainly been right predicting dollar weakness.
In fact he’s been so right about many things. He talks much of the time about things like government over reach, which is why I keep listening despite the constant (gold is going up tomorrow!) which gets exhausting.
He’s not alone either, not now. There are so many brilliant minds who recently are predicting big things for PMs. When the masses finally get it, PMs won’t be cheap anymore.
I’ve read his books. Many people who have followed him since 2008 have lost a great deal of money and opportunity. Who knows what will transpire in the future?
Not sure about that, people following Schiff have lost a great deal of opportunity. Whether people that didn't follow Schiff and made large gains are smart enough to keep them is a whole other story.Too early to say this. Pets.com owners felt great at the peak of the tech bubble. I had coworkers who were paper millionaires with jds Uniphase options in 2007.
Not sure about that, people following Schiff have lost a great deal of opportunity. Whether people that didn't follow Schiff and made large gains are smart enough to keep them is a whole other story.
Britain’s believed record-setting gold nugget found by ‘sniping’ in Scottish riverbed
The man found the nugget, weighing about 85 grams, or 3.02 ounces, while lying facedown with a snorkel in the riverbed, a method that prospectors call “sniping.” But he has shown the discovery to experts, including one who suggested the nugget’s rarity makes it worth about £50,000 (over $65,000). ... Found gold and silver in the U.K. is usually classed as belonging to the crown, and it was not clear whether the finder had received permission to remove it. So far, he is keeping it in a safe-deposit box, according to the Guardian report.
I figured it was all picked clean by now, except in places like South Africa or the Yukon.
Many of the major news outlets are beginning to write stories on stock market corrections and even crashes. I’m surprised that the metals markets are remaining so low. I would have guessed folks would begin to diversify out of equities.
Many of the major news outlets are beginning to write stories on stock market corrections and even crashes. I’m surprised that the metals markets are remaining so low. I would have guessed folks would begin to diversify out of equities.