Reminder to members. If you have any savings, don't try to preserve it in dollars.

[Nick Gromicko]

Your government is debasing the dollar very rapidly. Savers of dollars will be slaughtered.

[Michael Larson]

Originally Posted by gromicko

Your government is debasing the dollar very rapidly. Savers of dollars will be slaughtered.

That would be true if they were actually printing money.

They are instead borrowing it.

That's a different kettle of fish.

[Nick Gromicko]

here ya go:

[Bob Elliott]

You are setting up unjustified panic.
Wall Street is doing well.

If we get that paranoid ,it is time to pack and leave the USA.

[Nick Gromicko]

Wall Street is doing well, in part, because people are trying to put their, soon to be worthless
cash somewhere.

[Gary Farnsworth]

Remember, the market is based on the top 500 companies, and their performance, daily. If one company, or several, are not doing well, they drop those companies and add ones that are. Complete, daily, manipulation of the US economy.

[Michael Larson]

Nick,

Unless that increase in the money supply can get back into wages where it is spent to buy things it has no inflationary effect.

Think about it.

Also, our massive entitlement system is indexed to inflation so you can not get ahead of it(monetize) as the system stands.

Gold won't save you either.

If I buy Gold today and it doubles in price, guess what happens?

The gov taxes you on the capital gains when you sell it.
Are you any farther ahead?
Can you predictl what the future capital gains tax rate will be?

This may help

This too

It's an interesting debate with good people on both sides.

Either way we are in a world of hurt.

[Erol Kartal]

Originally Posted by belliott

If we get that paranoid , it is time to pack and leave the USA.

That may not help since it's almost 2012.

[Charles R. N. Crooker]

Originally Posted by gromicko

Your government is debasing the dollar very rapidly. Savers of dollars will be slaughtered.

Yes hurry and send it all to me and i will help you get rid of it

[Nick Gromicko]

Michael writes:

our massive entitlement system is indexed to inflation so you can not get ahead of it(monetize) as the system stands.

How are the dollars China holds indexed to inflation? Unlike Social Security recipients, the number of dollars China has doesn't increase with inflation. So if we debase the dollar by printing (see post #3 of this thread), the Chinese and anyone else with dollars get slaughtered. That's the secret plan. Too bad for you China and those in the U.S. who try to preserve wealth by saving cash.

[Nick Gromicko]

P.S. There is no capital gains tax on gold that you don't trade for worthless paper money.

[Michael Larson]

Originally Posted by gromicko

P.S. There is no capital gains tax on gold that you don't trade for worthless paper money.

If you buy and sell gold from a registered dealer it is reported to the gov.

Good luck.

[Michael Larson]

Originally Posted by gromicko

Michael writes: How are the dollars China holds indexed to inflation? Unlike Social Security recipients, the number of dollars China has doesn't increase with inflation. So if we debase the dollar by printing (see post #3 of this thread), the Chinese and anyone else with dollars get slaughtered. That's the secret plan. Too bad for you China and those in the U.S. who try to preserve wealth by saving cash.

You have stated how the "printed money" will get into the economy to drive up wages so it can be spent and drive up inflation.

If inflation were to happen all indexed entitlements go up correspondingly.
You can't get ahead of it.

As long as our debt is denominated in U.S. dollars hyper inflation is not likely to happen.

If that were to change we would be in even deeper crap and it gets ugly fast.

Can you say Wiemar Germany or Zimbabwe?

[Nick Gromicko]

Michael warns:

If you buy and sell gold from a registered dealer it is reported to the gov.

Good luck.

Nope. No government regulations require the reporting of the sale or purchase of any precious metals any differently than a pack of bubble gum and I know of no precious metal dealer, coin store, or coin show booth operator that asks for ID, and I've done many PM & coin transactions.

Now of course if payment is made by cash greater than $10,000 it becomes a "cash reporting transaction," but that is not unique to gold. If you bought $10K worth of bubble gum with cash, it would have to be reported. Such reporting applies to all business transactions involving more than $10,000 cash at one time... it is not particularly a "gold" thing.

[Michael Larson]

I stand corrected . I forgot it's only for sales over $10,000.

IMO physical gold is far to risky.

Your better off stocking food and lead and delivery systems.