It appears that central banks around the world are setting up QE3 today as they attempt to prevent total meltdown in Europe.
As a result, gold and silver are taking it on the chin – as expected – and the stock market is up just a bit.
People under invested in gold and silver are taking this opportunity to buy gold and buy silver at prices we have not seen for several weeks.
While the price of gold and silver may fall further, recent pullbacks have been sharp and brief, causing many of today’s gold buyers to not want to risk missing the opportunity presented by the desperate attempts by central banksters to avoid crisis due to Greece (and Italy, and Spain).
More Money Printing
Options are limited for the Federal Reserve, and since QE 1 & 2 worked out so well (in their professional opinion) then why not do it again.
Marc Faber only half jokes when he says QE to infinity.
He’s right, though. Barring some miracle (and they are hoping that miracle will be China), once you start money printing you really have no choice but to keep going until, well, until the system breaks.
Never fear! When the system breaks they will have a fall guy in place and the ones pulling the levers will all come out just fine thank you very much.
From the sound of things, the fall guy is probably going to be “the rich” although not the rich that pull the levers.
Gold And Silver: Real Money
All one can really do is accumulate REAL money, ie, Gold and Silver for that day when the system does collapse. The price vs US Dollars may fluctuate dramatically between now and then; just concentrate on ounces.
Dollar cost averaging works very well when you are uncertain about the timing of the appreciation in price of an asset. Just buy a little (or a lot, depending on your means) every month and keep looking for the bright side of things.
Perhaps buy a few coins to have at home, in a safe, in the backyard, whatever you are comfortable with.
Store Gold offshore, perhaps in more than one country.
Do not EVER store precious metals in a commercial bank safe deposit box. Private vault deposit boxes like Das Safe in Austria are fine (if you can get a box there, they are in high demand). And of course have the means to travel.
Soon we expect Asia to be “The” place to store Gold and Silver; there are new vault facilities in the works at this time and should become available soon.
Asians have a high recognition of the value of Gold & Silver, unlike Americans, and a high propensity to act on that recognition as well.
Action Time
If you have cash sitting in the bank, understand that the value, or purchasing power, of that cash is deteriorating far faster than the paltry interest they are paying you – if any at all – is growing the balance.
Our opinion is that the only way to protect your wealth and your purchasing power is to convert fiat dollars into sound money; sound money being gold and silver.
The preference is for that gold and silver to be stored offshore, outside your home jurisdiction. We also feel that the best way for the average person to do that is by buying gold and buying silver at either BullionVault or GoldMoney.
