muses of the moment

October 31, 2012

Rumors

Filed under: Gold and Silver Investing, Odds 'n ends, Precious metals — totallygroovygirlfriday @ 11:42 am

Groovygirl thought this post from Jim Sinclair on the rumors of gold confiscation was very good. If the government wants to take your money, as we have seen, they can devalue the fiat dollar.

They can also replace investments with mandatory “triple A” investments of US treasuries or bonds. These games will buy them more time and confidence than gold confiscation.

Click here.

But, gg will say that they can discourage physical gold and silver investments by taxing them more. But gg bought early and held. When she sells, it doesn’t matter the tax. She still makes more profit and will keep capital than any other investment class. A change in tax may only influence a little when she starts to sell, but it will influence nothing else about her precious metals investment plan.

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2 Comments »

  1. How many ounces of gold do you think a person really needs ??

    Comment by madmax — November 2, 2012 @ 10:11 am

  2. Madmax,

    gg recommends that you have at least 10-20% of your total wealth in physical gold and silver. This is to compensate for a loss of purchasing power of the USdollar. It will allow you to keep constant the purchasing power of your entire total wealth regardless of inflation, deflation, or hyperinflation. This is what happened in the 1970’s-1980. Whatever number of ounces that works out to be, buy it. But remember to sell close to the high. Depending on your age and economic situation, you can do more or less than 10-20%. Do what you can and feel comfortable with.

    gg

    Comment by totallygroovygirlfriday — November 2, 2012 @ 10:26 am


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