Who To Believe ???
 

The other day on the TV stock channel a so called expert was saying Gold
was at the end of its run on the up side and he expected it to go down
in price considerably in the near future. Today Glenn Beck was on
saying a depression was coming very soon which I would figure would have
Gold or other hard currencies go up ....
Anyone of you coin collectors have any feelings on this subject ???

Who To Believe ???
 

Who To Believe ???
 

wrote in message
...

The other day on the TV stock channel a so called expert was saying Gold
was at the end of its run on the up side and he expected it to go down
in price considerably in the near future. Today Glenn Beck was on
saying a depression was coming very soon which I would figure would have
Gold or other hard currencies go up ....
Anyone of you coin collectors have any feelings on this subject ???


You seem to question the credentials of a "so-called" expert on a TV stock
channel, yet you don't sound like you have the same doubts about Glen Beck
on the Fox channel? Apparently, you consider Beck the more legitimate
expert on the subject. Go for it. No matter what happens, you're still
gonna die, so why worry that much about what gold does?

Who To Believe ???
 

On Aug 25, 7:38*pm, "Bremick" wrote:
wrote in message

...



The other day on the TV stock channel a so called expert was saying Gold
was at the end of its run on the up side and he expected it to go down
in price considerably in the near future. *Today Glenn Beck was on
saying a depression was coming very soon which I would figure would have
Gold or other hard currencies go up ....
Anyone of you coin collectors have any feelings on this subject ???

You seem to question the credentials of a "so-called" expert on a TV stock
channel, yet you don't sound like you have the same doubts about Glen Beck
on the Fox channel? *Apparently, you consider Beck the more legitimate
expert on the subject. *Go for it. *No matter what happens, you're still
gonna die, so why worry that much about what gold does?

Day in and day out, a person should have a certain percentage of their
assets in gold and silver.

That percentage should NOT be real high - the important thing is that
it should NOT be zero. The percentage varies from person to person.
Collectible coins with a realatively high composition of silver (and
gold) to their market values are a great way to go - you get the
pleasure of owning a historic object with the protection of holding
some precious metals.

If you don't care anything about history, you can do well with the
modern bullion coins (the ones with explicit even weights in troy
ounces) which have sprung up since 1968 (when the Krugerrand was first
introduced).

However, IMHO, the pleasures of Numismatics are too wonderful to be
missed. The enjoyment of collecting coins is not inconsiderable.

The big question is something like "What rock did you grow up under?
Where have you been the past fifty years?" I grew up in quite modest
rural midwestern circumstances and my grandparents, parents and
teachers all let a kid know that yes, gold and silver was (and is)
valuable. Didn't you ever read "Treasure Island" or The Diaries of
Samuel Pepys? When the Dutch invaded the Medway in 1665, Mr. Pepys
could refer to 300 pounds of silver plate and 1300 gold guineas as
"That little in money which I presently have by me (in my possession
at home).

We are living in the first period in World History (now ran out to
about the fifty year mark) where 99% of the people in the world accept
whatever monetary dross their government has chosen to replace gold
and silver, or bank paper redeemable in Gold and Silver. This amount
of faith in a class of venal politicos and bankers is incredible.

There is no indication that this experiement (and that is what it is)
is going to end well.

If you have no precious metal holdings whatsoever, buy three one-ounce
AGE and three rolls (sixty coins) of ASE.

We may see a moment where all fiat currencies go bad nearly
simultaneously. In the near future.

The financial system imploded about two years back, and the world is
still waffling in the "discovery" and "denial" stages.

At some point, lots of people are going to bail out of an obviously
broken system.

The early-bird "bailers" will do a lot better than the folks that are
going to be too late.

The modern financial system is a big, deep watery pool, and there
aren't many ladders out of it.

oly
"Feeling really really optimistic this morning, ain't I?"

Who To Believe ???
 

On Aug 26, 5:13*am, oly wrote:
On Aug 25, 7:38*pm, "Bremick" wrote:





wrote in message

...

The other day on the TV stock channel a so called expert was saying Gold
was at the end of its run on the up side and he expected it to go down
in price considerably in the near future. *Today Glenn Beck was on
saying a depression was coming very soon which I would figure would have
Gold or other hard currencies go up ....
Anyone of you coin collectors have any feelings on this subject ???

You seem to question the credentials of a "so-called" expert on a TV stock
channel, yet you don't sound like you have the same doubts about Glen Beck
on the Fox channel? *Apparently, you consider Beck the more legitimate
expert on the subject. *Go for it. *No matter what happens, you're still
gonna die, so why worry that much about what gold does?

Day in and day out, a person should have a certain percentage of their
assets in gold and silver.

That percentage should NOT be real high - the important thing is that
it should NOT be zero. *The percentage varies from person to person.
Collectible coins with a realatively high composition of silver (and
gold) to their market values are a great way to go - you get the
pleasure of owning a historic object with the protection of holding
some precious metals.

If you don't care anything about history, you can do well with the
modern bullion coins (the ones with explicit even weights in troy
ounces) which have sprung up since 1968 (when the Krugerrand was first
introduced).

However, IMHO, the pleasures of Numismatics are too wonderful to be
missed. *The enjoyment of collecting coins is not inconsiderable.

The big question is something like "What rock did you grow up under?
Where have you been the past fifty years?" *I grew up in quite modest
rural midwestern circumstances and my grandparents, parents and
teachers all let a kid know that yes, gold and silver was (and is)
valuable. *Didn't you ever read "Treasure Island" or The Diaries of
Samuel Pepys? *When the Dutch invaded the Medway in 1665, Mr. Pepys
could refer to 300 pounds of silver plate and 1300 gold guineas as
"That little in money which I presently have by me (in my possession
at home).

We are living in the first period in World History (now ran out to
about the fifty year mark) where 99% of the people in the world accept
whatever monetary dross their government has chosen to replace gold
and silver, or bank paper redeemable in Gold and Silver. *This amount
of faith in a class of venal politicos and bankers is incredible.

There is no indication that this experiement (and that is what it is)
is going to end well.

If you have no precious metal holdings whatsoever, buy three one-ounce
AGE and three rolls (sixty coins) of ASE.

We may see a moment where all fiat currencies go bad nearly
simultaneously. *In the near future.

The financial system imploded about two years back, and the world is
still waffling in the "discovery" and "denial" stages.

At some point, lots of people are going to bail out of an obviously
broken system.

The early-bird "bailers" will do a lot better than the folks that are
going to be too late.

The modern financial system is a big, deep watery pool, and there
aren't many ladders out of it.

oly
"Feeling really really optimistic this morning, ain't I?"- Hide quoted text -

- Show quoted text -

P.S. Mr. Pepys still had the biggest and most lucrative portions of
his career in front of him when he made the remark about "That little
in money which I preently have by me".

Ah to be a corrupt naval functionary at the court of King Charles II
of England. And there were very few ugly women in that court too.

oly

Who To Believe ???
 

wrote:

The other day on the TV stock channel a so called expert was saying
Gold was at the end of its run on the up side and he expected it
to go down in price considerably in the near future.

Okay, did he say why?

Today Glenn Beck was on saying a depression was coming very soon
which I would figure would have Gold or other hard currencies go
up ....

What reasons did Mr. Beck give for his opinion?

Anyone of you coin collectors have any feelings on this
subject ???

Don't believe anyone's bare assertions, including mine. Don't
act on anyone's opinions until you understand their reasoning,
verfied their facts and are willing to accept their base
assumptions.

For example, I don't accept your assumption that gold prices
will rise during a hypothetical future depression. As a
counterexample, the price of gold in yen dropped during most
of Japan's lost decade.

I'm pretty sure that the only gold I've bought this year was
a Transylvanian Ducat and a Charlotte gold dollar. But I'm
continuing to hold the stuff I bought when prices were less
(nominally) than the 1980 peak.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain

Who To Believe ???
 

Michael Benveniste wrote:
wrote:

The other day on the TV stock channel a so called expert was saying
Gold was at the end of its run on the up side and he expected it
to go down in price considerably in the near future.

Okay, did he say why?

Today Glenn Beck was on saying a depression was coming very soon
which I would figure would have Gold or other hard currencies go
up ....

What reasons did Mr. Beck give for his opinion?

Anyone of you coin collectors have any feelings on this
subject ???

Don't believe anyone's bare assertions, including mine. Don't
act on anyone's opinions until you understand their reasoning,
verfied their facts and are willing to accept their base
assumptions.

For example, I don't accept your assumption that gold prices
will rise during a hypothetical future depression. As a
counterexample, the price of gold in yen dropped during most
of Japan's lost decade.

I'm pretty sure that the only gold I've bought this year was
a Transylvanian Ducat and a Charlotte gold dollar. But I'm
continuing to hold the stuff I bought when prices were less
(nominally) than the 1980 peak.

Michael, surely you don't expect any of these hucksters to make a reasoned
presentation, backed up by reliable evidence which supports their claims!
Such things just don't play in Peoria or anywhere else. Blood and guts and
forecasts of doom, that's what sells.

James, not intentionally calling anyone Shirley

Who To Believe ???
 

"Mr. Jaggers" wrote:

Michael, surely you don't expect any of these hucksters to make
a reasoned presentation, backed up by reliable evidence which
supports their claims!

:-)

In the United States, thousands of people every year take formal
training in how to make reasoned, logically valid presentations,
backed by reliable evidence and based on totally speculative or
invalid assumptions. Trust me(!) on this -- I was one of them.

Such things just don't play in Peoria or anywhere else. Blood
and guts and forecasts of doom, that's what sells.

For some potential marks/clients "such things" are exactly the
right approach. Bernie Madoff made it work for a long time.
People like Howard Ruff and Frank Holmes are perfectly capable of
writing reasoned columns.

James, not intentionally calling anyone Shirley

Alas, as time passes fewer and fewer people still appreciate that
gag. "This? Why, I can make a hat or a brooch or a pterodactyl..."

--
Mike Benveniste -- (Clarification Required)
A jury consists of twelve persons chosen to decide who has the
better lawyer. -- Robert Frost

Who To Believe ???
 

May I also point out that Goldline is also one of Glenn Beck's
advertisers? I am not saying that holding precious metals is a bad
idea, but I think the fact that Beck is being remunerated by a gold
seller might be an ulterior motive as well.

Who To Believe ???
 

Jud wrote:
May I also point out that Goldline is also one of Glenn Beck's
advertisers? I am not saying that holding precious metals is a bad
idea, but I think the fact that Beck is being remunerated by a gold
seller might be an ulterior motive as well.

I'd submit that Goldline and the other advertisers on Beck's or any other
pundit's show keep the stations on the air and that's about it. Many of
those stations are operating on a shoestring. It's the invisible "sponsors"
that really pay Beck's salary.

James the Corporate Maggot
'wait, did I say that right?'