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Re: A Sympathy Letter from the UK...

By: lkorrow in CONSTITUTION | Recommend this post (0)
Mon, 01 Aug 11 4:54 PM | 67 view(s)
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Msg. 14186 of 21975
(This msg. is a reply to 14184 by DueDillinger)

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I'm not familiar with the silver market. Wouldn't demand go down with a deepening depression? Seems like silver is more of a psychological thing, a poor man's gold?




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The above is a reply to the following message:
Re: A Sympathy Letter from the UK...
By: DueDillinger
in CONSTITUTION
Mon, 01 Aug 11 8:01 AM
Msg. 14184 of 21975

So how much are my two gold 1 ounce coins worth tonight.

The 'worth' of your gold hasn't changed, but the number of paper dollars each ounce of gold will buy is much fewer than it will be in a few days/weeks/months when the US debt is inevitably downgraded.

I bought a few more 10-oz silver bars earlier this evening @ $39.40/oz and I'll keep buying whenever the price dips more than a percent. Silver will be trading in triple digits by next year.

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