jgocar24,
Agreed.
Buy and hold for the long term.
Bought more NOT today myself. It's nice to average down, but I wouldn't mind if we stopped here!
Panic is is full swing and the veil has been pulled aside.
Politicians are promising whatever it takes. Lower taxes, free health care, buy all the mortgages and guarantee deposits. They think the government can just create as much money as needed.. and they are right! And this exposes the absurdity of fiat for all to see.
Most folks haven't thought much about the origin of money, except as it applies to their paycheck, but NOW, even the babysitter is asking, "where's the government getting all this money?".
Answer: It's easy. All the government needs to do to create money, is to create more debt!
And the babysitter (having listened to Dr. Paul) responds, "but if the problem is too much debt, how will we solve it by creating more debt?"
The jig is up. Questions like these will greatly shake confidence. They will accelerate the eventual collapse of fiat.
That's why we are in the right investment, commodities - and especially precious metals. Whether we have a slow economy or a fast one, these continue to have value. As this new money (new debt) gets injected into the system to cover the current debt, inflation will be called in to help. Inflation magically makes the debt smaller, by depreciating the value of the paper money, so we can repay the debt with paper of less value then the value of the paper we borrowed.
Commodities and especially precious metals, will ride the inflation wave; cash and bonds will sink beneath it.
Folks are trying to hide and protect their wealth by turning it into paper (cash - the ultimate IOU). Better to store it in the material world, commodities, than the fictional world of paper IOUs.
Of course you need cash to get by in the short term. That's why NOT has 30 million. But even better - I wish that 30 million was in gold instead.
Lets hear some good news from windfall. This will be of great help both short and long term.
As to the nickel and chromium. Countries will still need to build and repair, and these will be needed as well.... they'll just be a lot more expensive!
BK
