Mike Maloney: Today's Low Gold & Silver Prices Are Not Realistic | Zero Hedge
After reading & podcast - I figure all metals stockpiled equal buying power surpassing paper money - a 65 gallon pail of heat sinks from TVs will always be real.
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Mike Maloney: Today's Low Gold & Silver Prices Are Not Realistic | Zero Hedge
After reading & podcast - I figure all metals stockpiled equal buying power surpassing paper money - a 65 gallon pail of heat sinks from TVs will always be real.
I agree but what might be better is to sell your metal and buy silver. I can see Aluminum dropping in price if things go sour.
No I think AL is ok as is so widely used and needed but heck I just used as an example as way to much AL needed to create a hedge from a loss dollar
Cyprus Greece `is a good example
(CNN) -- Cyprus has agreed to a €10 billion ($13B) European Union bailout after a frantic weekend of negotiations with European lenders, preventing the collapse of the island nation's financial sector in a deal that will likely mean huge losses for holders of large deposits at Cyprus' two biggest banks.
What are the terms of the deal?
Cyprus struck a deal with EU officials on a €10 billion aid package to shore up the country's banking sector. The plan will protect all deposits of less than €100,000, but is likely to impose a levy or "haircut" for account holders with more than €100,000 at the two biggest banks -- the Bank of Cyprus and Popular Bank of Cyprus -- according to CNN Money.
'New beginning' for bailed out Cyprus
EU, Cyprus reach bailout plan agreement
When will banks re-open in Cyprus?
Popular Bank will be broken up immediately, and its viable assets will be integrated into the Bank of Cyprus. While the exact percentage of the "haircut" has not yet been determined, the levy on Popular Bank depositors alone will raise about €4.2 billion ($5.5B) towards the bailout deal, while shareholders and bondholders are likely to be wiped out.
Paper is paper - paper ownership on gold silver copper or futures is real until what above happens
A simple guy like me has learned from my 1500 trips to the yard ALL metal has value & it's world wide - a recent high for copper was 100 pounds = $360 and now 100 pounds equal $335 the $25 loss is real but we all can wait for the value to come back . once you loose your paper holdings you wont get it back from those who took it .
so silver and gold is practical to hold compared to copper. Bottom line what ever metal you have you can ride out the storm
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