[Novalug] OT: Investing -- How to -- precious metals

[ethan at 757.org]

> 	Next year or the year thereafter (2011), the USA will probably
> experience hyper-inflation as the US dollar becomes worthless.
> Accordingly, I suggest that everyone buy precious metals, with one
> caveat. In the USA, the market for silver is apparently being
> manipulated, so buy _physical_ silver, _not_ a silver ETF such as the
> ETF known as "SLV."

Silver was physically manipulated in the past.

Can you really have huge amounts of hyperinflation without rising salaries 
or employment?

At the end of the day, what makes gold so special? It's good for plating 
pcb circuit board connectors, and perhaps teeth but generally it's loved 
just because it's expensive. You can't eat it. It's trading at twice the 
cost to extract it from the earth.

Gold might be the next bubble. It's traded at levels over $2000 in the 
past though (adjusted for inflation yadda yadda).

I don't know if I buy the gold thing. Too hard to break apart to spend. Is 
everyone going to carry around a satchel full of gold dust and give away 
pinches of it for goods?

Rich people have lots of dollars. I think they like their power and want 
it to stay around.

If only they'd quit interfering with the housing market so it could return 
to proper levels. Then people would have more disposable income to buy 
stuff without relying on credit. But you know how that goes.

--
Ethan O'Toole
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