Wednesday, December 17, 2008

Got Gold?

If you have any wealth at this point that you would like to keep the time has come to buy physical gold and silver and take possession of it. If you buy enough buy a big safe and keep it in there. I wouldn't put it in a safe deposit box because you could find you get denied access.
The government is penalizing you if you want to save money. Think about it. What is the stated government inflation rate for 2008? 2.7%. And if you believe that I have a bridge to sell you. Anyway taking their number how much do you get paid in interest in a bank account to save? National average in a "savings account" is .31%. So if I had 250,000 and put it in a savings account which is supposedly safe and insured, what would I have a year later in actual buying power?
250,000 x .31% = $775.00. That would be my gain after 1 year.
Now for inflation hit- $250,000 x 2.7% = ($6750)
At current stated rate of inflation I would lose $5975 in buying power.
So best case scenario I lose almost $6,000 for my effort to be frugal and save.
Great deal, huh.
And don't you think with the trillions of new money being created inflation just might go up a bit? Maybe a lot?
Don't you think it might be wise to convert your paper to gold and silver.
Don't know anybody in the world who can print gold and silver out of thin air, do you?
By the way it is in increasingly short supply as other people start to realize this too. Don't be the last sucker holding the proverbial bag. Fiat money and the dollar are toast. It will just take awhile for the masses to get it.
Make sure you buy some food and water first and then gold and silver.