I'm not saying it's a huge challenge during the best of times, but even now for most people they can't just go down to the bank (or anywhere ...) and exchange 10,000 AUD for silver, they have to order it from somewhere, and the delivery times can be over a month if you want anything close to spot. I'm not saying you can't do it, of course, it's just not trivial, and most ordinary non-bug humans don't even know how to do it. Edit, as for what you wrote about there being plenty of warning - the proof that the warning wasn't obvious enough for most people to see it is that they didn't, unless you are going to argue that they knew what was going to happen and just decided to take one for the team.
Sourcing silver depends on where you are. Here you can pay and have it immediately, it's available. Plenty of warning for the Greeks. You need to discuss things you actually know about. I'll fill you in as you probably rely on MSM for your info and the internet.... Greeks were mostly ready... they're whole economy works on cash and lots of it. It's why the government receives so little by way of taxation, it's a cash economy. Business people regularly have hundreds of thousands of Euros tucked away in notes. Business were still running during the entire crisis because of cash. Also people view notes as what they will exchange for not gold and not silver. Go over the boarder and they'll take Euros which is why they were hoarding billions and billions and billions of notes. Everyone knew that, even the banks were tracking it. By the end you didn't have much (comparatively) left in their banks.
I'm sure if you don't care what the price is you can get it anywhere. Are you saying that in Australia you have banks that will exchange cash for silver ? We don't have that in the United States, though you could once purchase U.S. government mint silver coins at the bank, I haven't seen that in years, and certainly not in the hundreds of ounces even when the banks did do that. You can't even purchase U.S. government savings bonds at the bank anymore, something that used to be very popular. I appreciate that, but I haven't established in my own mind that your comments have enough merit to give me such advice. I don't believe you or what you are saying. I'm sure some of the smartest had plenty of cash, the most prepared, people who were really paying attention to what was going on, you and I for example would have probably seen it coming from a great distance. But regular people don't, and there were a lot of businesses that had money locked up and weren't able to pay employees, etc. I'm sure you are wrong, despite your boldness.
Where did you disappear to ? After posting comments that seemd to be some strange attempt to humiliate me, posting a childish video that appeared to be directed at me, etc, I would have thought you wanted to engage in some spirited debate, that seemed to be what you were after, right ? Edit, well I'm not going to wait around, it's Saturday night here ...
OK, I'm back with a clearer head. Would you mind explaining the difference between: "questions the survivability...", and "faith in the survivability...". I am sincerely curious.
Don't think there's any difference between the 2... the key word is survivability. I guess philosophically when you lose faith, you start to question. But I would say you can't lose something that wasn't there in the first place. Anyway too busy checking out ebay deals.. haha.
A claim like "Gold WILL RISE along with stocks and commodities against whatever is money" is a useless one, it's not a rise or drop against fiat that determines purchasing power, but a rise or drop against stocks, commodities and and donuts and lollypops and whatever that does. Yes, "or drop".
My view of the future is that US external debt growth cannot continue indefinitely. One day, the rest of the world will lose faith/trust/whatever in the US govt and the US dollar will collapse. Or the US fed will purposely make this happen as a way out of the US debt burden that can never be repaid. Same result, massive inflation in the US. I don't know when this will happen but I am 100% certain it will happen - the insanity can continue for a long time, but not forever. I don't think Armstrong is saying anything different really, but, like many others, he assumes that he will be able to predict this impending moment accurately and buy gold as protection only at that point. My problem with that assumption is that: 1. Loss of confidence often happens very quickly with little warning - the real GFC crisis in 2008 was very short 2. How will you know the real impending crises from all the false ones ? How will you know when it is the REAL THING ? So as others here have asked, what do you do in the meantime? I prefer to cover all bases now. I reckon I'll be crap at getting the timing right.
Only paid subscribers would be privy to that information? I can't find anything "free" apart from public interviews. Would be interested to see an example of what bang for your buck you receive. "we have divided our services into three main categories so we have allowed access to the overall view of the global economy for the basic average person we call the INVESTOR, followed by the more active TRADER who likes to buy and sell various markets and instruments, and our famous Institutional Services that further divide from corporate structural advisory, hedge management to reduce risk, and portfolio management advisory service right up to asset allocation."
Okay, so here we go. Now begins the trend down until 2017, and then a big slope down until 2020...mark it. Let's see if he's right. My bet? He's spot on. http://www.armstrongeconomics.com/archives/37527
He said on the weekend DB would go down. This is what happened today. 1, First you have to listen. 2, You have act on it.
Economic confidence is in a down trend right now, yet his chart shows it peaking Thursday. http://www.gallup.com/poll/185378/economic-confidence-remains-lower-end-2015.aspx Must be nice to be able to make stuff up and have people pay your for it. Edit "He said on the weekend DB would go down. This is what happened today. 1, First you have to listen." projack GS is down 3.79%, so what is special about calling for a decline in DB? Edit 2 Better add this. Yes, the link I posted is for the US economic confidence. But the US is the supposed engine of growth for the world right now and our economic confidence has been trending down since around February. With the problems in the Middle East, Europe, China, etc., I don't see how anyone can say how the world is at a multi year peak in economic confidence.
This is just a low level test on his call with the leverage of 1:20 short sell. 5% upward movement would wipe out the investment, but every 1% down would give you 20% return, so 3.85% is significant here. I am rolling this gambling test over, so let's see what happens.
Nice call on Deutsche Bank http://www.zerohedge.com/news/2016-02-08/europe-closes-lows-deutsche-bank-plunges-11-7-year-lows
I've been shorting deutsche bank for months as have many others. I could not give a toss about this Armstrong guy and it was blindingly obvious deutsche was going to get pounded for ages. This tosser said gold would go to 5000 in 2009. He served 11 years for financial fraud and why this prevalence for looking for leaders that the pm community has can follow like this cnut or the myriad of others (small or big) would be prophets baffles me. Heard mentality I guess. Go buy his newsetter or alternatively burn your cash to heat can of beans. Your money......
