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RE: selling your gold jewelry - 4/2/2010 7:32:46 AM

mnottertail

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WTF are you on the rampage about? Did you just blow a fuckin head pipe or what?

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RE: selling your gold jewelry - 4/2/2010 7:38:44 AM

pahunkboy

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worthless gold.

HA!

yeah- my head banged a pipe.

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RE: selling your gold jewelry - 4/2/2010 7:41:25 AM

mnottertail

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Why are you saying gold is worthless now?

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RE: selling your gold jewelry - 4/2/2010 7:42:35 AM

LadyMondenschein

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my two cents...better off getting a loan on your gold jewelry..than selling it..that way you can get it back if you want.
if you go to a pawn shop to sell it ...for the most part you will not get anywhere NEAR what it cost retail..
they go by a system called pennyweight..you'll get a fraction of what it might have cost you or what it might be worth according to an appraiser.

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RE: selling your gold jewelry - 4/2/2010 7:45:42 AM

pahunkboy

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Gold sells itself.

I personally would never sell- unless I have to.

Gold has no counter party risk. There is no 3rd party to commingle it.

The price will fluctuate. yes- but the long term trend is up.

However in light of Maguire admitting the exchange sold 100x for every ounce- that can only mean more will demand delivery.

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RE: selling your gold jewelry - 4/2/2010 7:51:59 AM

Termyn8or

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"which of all the fiat currencies have failed?

franc
pound
canadian
kroner
ruble
lira
peso "

I'll not argue against that, not even with "they will" because they might not. The difference is in the handling of each country's economy. Even with the blundering and plundering the US fiat currency remained stable enough to use for seventy some odd years. Other countries do not have quite the same problems as we. They don't fund or start just about every damn war they can make enough excuses for. They don't give out quite the level of corporate welfare we do. They don't give out as many tax cuts to their buddies nor use it as much for social engineering as we do. Rather they provide services like healthcare, and build roads made to last thirty years instead of three.

We all know my calling it a Ponzi scheme is not quite accurate, but it's the closest word I have at the moment. Maintainence of the scheme requires proper management, something of which US officials are rarely accused.

With proper management a fiat currency might be sustainable indefinitely. Don't even make any pretense that it is backed by precious metal. Precious metal is about as nutritious as fiat currency. The last thing used on this planet for currency that had any real value was salt.

So in a way even precious metal is a fiat currency. The only advantage it has is that it is good just about worldwide, if you plan on making any huge overseas purchases or something. If it were managed properly, precious metal simply provides a basis of exchange. Of course it can be used to hedge "infation" or even to make money.

On the other hand salt was traded as well, but it was also used. And nobody cared if you mined or harvested it yourself. I bought a bunch of it a few years ago and it has at least tripled in "value", but I have no intent to ever sell it.

T

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RE: selling your gold jewelry - 4/2/2010 7:52:17 AM

mnottertail

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The trouble being, you cant sell it for what its appraised at, unless you own a retail store. Nor can you borrow against its retail value anywhere on the planet we inhabit (and you are out the appraisal money out of proceeds as well).

Which takes overhead. You ain't gonna get your money outta craigslist.

A pawnbroker is going to give you a loan on about 20-35% interest. (and that is against wholesale). So, now you just sunk your 20% profit motive in the base price, further reducing your cash position. But it is a viable option, it is a matter of motive, risk and reward for each scenario, so it is sorta unique circumstances for each individual.

Ron

< Message edited by mnottertail -- 4/2/2010 8:14:57 AM >

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Post #: 67

RE: selling your gold jewelry - 4/2/2010 8:11:18 AM

pahunkboy

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well even a lemonade stand has carrying costs.

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RE: selling your gold jewelry - 4/2/2010 8:44:36 AM

Aneirin

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Maybe I am apocalyptic in my mentality, but for my interest, metal has to have a use for it to be of interest to me, and the precious semi noble metal that I am particularly interested in, is silver, purely for it's life saving use in the next forecasted world shortage, that of water. Silver has been known as a water purifier since at least the Phoenicians and it is still used to prevent bacterial growth in water systems, preventing legionnaires disease.

To me, anything that can enhance the possibility of safe water systems for humans to live is a priority, as in a society where shit happened, everything we take for granted is gone, or is too expensive, we will once again be reduced to the basics of life, the seeking of food, safe drinking water and shelter.

Just as an indication of how fragile our taken for granted systems are, as it is now, where I live, my water supply is cut off, ( reports are the drinking water has been contaminated following the heavy rain we have had, land run off and pond water has found it's way into the drinking water supply ), and I am having to use my silver impregnated back packing water filters to draw the less desirable water from the hot water tank to use in cooking. So far, the water has been off for the day, but it does make one very aware of how fragile we live.

As it is, I am aware the water around here does contain undesirable elements post heavy rain, there is a standing advice in place to boil water when we have these conditions, but no one really bothers and the first they know about it, is more frequent trips to the loo, apply that to a more difficult situation in life, frequent trips to the loo could be life threatening.

So whilst everyone is squabbling over the prettiness of gold, when shit does hit the fan, just how useful is the metal ?

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RE: selling your gold jewelry - 4/2/2010 8:58:27 AM

mnottertail

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If anyone lives thru the apocolypse, there must be some rare(ish) placeholder to trade goods and services for. Not everyone has a green thumb or is a blacksmith or Omar the Tentmaker.

If the mayan calendar does not end the world in 2012 gold will surely lose its glister, until the next apocolypes is upon us.

TheFourHorsemen and Willy Shakespeare.

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RE: selling your gold jewelry - 4/2/2010 9:05:45 AM

pahunkboy

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yeah while we are about to NUKE Iran.

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RE: selling your gold jewelry - 4/2/2010 9:09:52 AM

mnottertail

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We are about to nuke Iran? What is the name of the voice in your head that told you that?

Gold will be valuable in Iran then, to repair all them nomads grilles:

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RE: selling your gold jewelry - 4/2/2010 9:30:37 AM

pahunkboy

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shh. We wont tell you we are at WAR!

< Message edited by pahunkboy -- 4/2/2010 9:33:02 AM >

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RE: selling your gold jewelry - 4/2/2010 4:36:41 PM

thornhappy

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I'd be leery of shadowstats, because he predicted that we'd be in a hyperinflationary depression by now, and that's not come to pass.

quote:

ORIGINAL: pahunkboy

....nothing goes up in a straight line.

so the minute it drops- or by any random measure- some will say I was wrong.

there is alot of arrogance that the US- can do no wrong. yet- historically- all fiat currencies fail. The dollar is a petro dollar- backed by bombs and now drugs. (Afghanistan)

No doubt politics has some to do with it.

I may have to sell some in the coming months. I am glad I have something to work with.

But really- any extreme move on PMs is to be viewed with caution. If you use shadow stats inflation numbers- Gold should be $6700 an ounce.

I dont doubt that the powers that be have tricks up the sleeve.

But I do think that is coming to the end. The big boys simply will not want to part with their gold. A good example of this is how the exchanges now say they can settle in cash. Well- hmmm- just what someone wont want in a full currency collapse.

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RE: selling your gold jewelry - 4/2/2010 4:37:56 PM

pahunkboy

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All I know is the powers that be LIE.

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RE: selling your gold jewelry - 4/2/2010 4:39:18 PM

Jeffff

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I still have My wedding ring somewhere. I could sell that.

But there is a shitload of bad ju-ju in it

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RE: selling your gold jewelry - 4/2/2010 4:41:25 PM

pahunkboy

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quote:

ORIGINAL: Jeffff

I still have My wedding ring somewhere. I could sell that.

But there is a shitload of bad ju-ju in it

well- coming from a gum ball machine- shit happens.

!!!!

;-)

JK

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RE: selling your gold jewelry - 4/2/2010 4:45:08 PM

thornhappy

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Well, it looks like the "powers that don't be" lie even more in most respects. They seem to give a reeeeeal low priority to fact checking.

And yeah, I've seen a few howlers here and there from the so-called MSM, but nothing like the sheer idiocy of conspiracy sites.

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RE: selling your gold jewelry - 4/2/2010 4:48:26 PM

Jeffff

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I had some silver when I was younger.

I sold it to the Hunt brothers and spent the profit on dope from Hawaii. It cane in little cans marked "Coconut"

It was fabulous!

It seemed like a good deal at the time

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RE: selling your gold jewelry - 4/2/2010 4:48:54 PM

pahunkboy

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Well Thorn,- you too must now send your pathetically worthless GOLD to Holly.

She also likes diamonds and furs!

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