Banking on gold

Murray Cox
BBC
Wednesday, Oct 8, 2008

Four years ago, fearful of a property crash, David and Maureen Somers sold their house and bought gold. It’s a tactic suddenly popular with those seeking a safe haven for their money.

As safe as houses. This piece of perceived wisdom no longer seems quite so wise as property prices fall and stocks stutter.

But there is one area of the global financial machine that is revving up – gold.

When times are bad, investors have traditionally sought refuge in this precious metal. With bullion dealers reporting a surge in business, it seems history is repeating itself.

(Article continues below)

Prices are strong and David Somers is delighted, because he effectively bet his house on it. The retired croupier sold his house in 2004 and invested the proceeds in gold.

“I was worried about the health of the financial markets at that time, I was worried that something like this credit crunch could be on the way,” he says.

“The fact that at the time, only £35,000 of savings in a bank or building society were secure worried me, and I spent a lot of time doing research into what to do. Gold seemed to the best place.”

The 56-year-old had seen his friends suffer badly in the last recession through negative equity, punishing repayments, bankruptcy and repossession.

“I looked at my friends and saw that their prime capital earning years were effectively taken away from them because of the way the system had been working.”

Full article here

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9 Responses to “Banking on gold”

YUMMY Says:
October 8th, 2008 at 11:28 am
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http://illuminatimatrix.wordpr.....symbolism/

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They thrive on your gold blood.
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Someguy Says:
October 8th, 2008 at 3:40 pm
Tried to read the full story, linked to an article about palin’s supposedly being related to princess diana and fdr…. interesting
Saundra Says:
October 8th, 2008 at 8:02 pm
Buy your gold from pawn shops, they will gladly sell you scrap gold.

Ive been worried about the gold shortage myself…anyone know about monatomic gold and the Arc of the Covenant? Interesting stuff…Ive made a mini-arc and have been drinking it. VERY interesting!
woow= Says:
October 8th, 2008 at 9:38 pm
americafirst,

“Gold isn’t going to do SHIT to save us from what’s coming.”

??? It most certainly will do “shit”. Anyone who owns something a value will always have options that others don’t. Gold and silver have never and will never go to zero. They are historically alway worth something and always worth more at times of crisis.

If you have something of value, it means you can protect yourself in ways a poor person cannot. It means you can buy food when others cannot. It means you can afford to drive your car, take a bus, hop on a plane, move your family to Panama, bribe the police, pay for security. You don’t understand what it means to be secure. To have something others are willing to pay, barter or trade for.
The ones who will be most effected are the poor and middle class who have no idea or no means to protect themselves, the ones who have a much better chance to come out unscaved are those who hold something of value.

Buy Gold. Buy silver. Buy wheat. Sell your house and buy silver. Sell your possessions and buy silver. Get rid of your dollars as fast as you can. Cash out your 401K as I did 5 years ago and buy gold and silver. I have nothing to worry about. I can move my family anywhere in the world and in a year I will have less to worry about as our retirement will likely double or triple which means my family will be living a very good life somewhere far away from this hell hole.
To say “fuck gold” is an ignorant statement and shows that you do not understand the role Gold plays. The people who lost their money in the depression were the people who had their assets in paper. The people who survived just fine and actually made or increased their wealth were people who had hard assets. Nothing has changed. It’s the exact same in 2008. If you own something of value that can’t be taken away by the bank, the government or inflation, you are way ahead of the game and have little to worry about.
Troy Billington Says:
October 8th, 2008 at 9:45 pm
I’d say it’s not a bad idea to stock up on Gold, Guns, Booze, Food, water and other survival supplies…visit CashforGoldScams.com for my take on the GOLD issue, or my survival website for the other things you’ll need.
Claudia Says:
October 8th, 2008 at 9:52 pm
The bible says there is coming a time when the gold won’t be any good and people will be throwing it in the streets! Only security is the Lord Jesus Christ people not the stuff!

Randy Reply:
February 14th, 2009 at 4:46 pm
Right on Claudia. The bible has too many “coincidences” to be pushed aside as just another story book. For example the chariot pieces with egyptian soldier and horse bones (confirmed by independent labs) that were found almost shore to shore in the red sea dating back to the exodus of Moses (which compare to museum artifacts of the same time period)
February 14,2009
Dragonfly Says:
October 8th, 2008 at 10:26 pm
Gold is only good as long as the “system” is in relatively good shape. You can’t sell gold when there is no marketplace for it. Buying it as future investment is OK as long as that is all it is,
In WW2 people were swapping a sack of potatoes for an ounce of gold or even more.
You see, you can’t eat gold and the man with the potatoes dictates its worth.
When the worst comes to the worst, a well stocked pantry, adequate heating and water are worth more than gold, silver or diamonds.
Of course, when the shit is over, then the time has come for you to get your gold out and pick up houses, real estate, companies etc. for peanuts.
TRUTH Says:
October 9th, 2008 at 3:37 am
I’m starting to think maybe these articles are misleading…..Gold is good better than paper money, but its exactly true “DRAGONFLY” people will pay thousands of dollars in GOLD, for a loaf of bread…..so whats the most valuable commodity “food”, its essential and we NEED IT!. To sell of your HOME FOR GOLD, is just ridiculous, I would have sold it for maybe 2 or 3 ounces of gold, 7 ounces of silver, and the rest for storeable foods, weapons, and books, just for further knowledge and something to read during the end times….

DOES ANYONE REALIZE THAT TO UNDERSTAND THESE CONFLICTS THEY MUST KNOW THE OCCULT, AND HOW THEY CONTROL EVERYTHING! SYMBOLS HAVE VERY STRONG MEANINGS, JUST LOOK AT WHAT FREEMASONS BELIEVE…PLEASE PEOPLE KNOW THE ACTUAL TRUTH, AND KNOW ABOUT THE SPIRITUALITY OF THE UNIVERSE. HAS ANYONE HEARD OF THE CASSINI SPACECRAFT CAPTURING A PICTURE OF THE PLANET SATURN. THE PICTURE SHOWS A HEXAGONAL CLOUD FORMATION (VORTEX, OR GATEWAY LIKE BERMUDA). SATURN 6 LETTERS, SATURN 6 PLANET FROM SUN, HEXAGONAL CLOUD 6 SIDES, AND FORMATION IS 60 MILES HIGH FROM SURFACE