Fiat Money and gold, do you really want to sell Tesoro?
posted on
Dec 05, 2011 12:17PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
If you are in a rush to sell Tesoro and want to place the funds in other things, ponder on what the banker was revealing to a poster here. When Ron Paul asked Bernake if gold was money, the head of the Federal Reserve eventually said "No." The biggest lie of the last 2000 years! Fiat money is paper money printed by governments and when this whole mess really gets going, then people will flock to gold and it becomes a feeding frenzy. This will overwhelm the manipulators that are blatantly shorting gold and silver. (if there was no manipulation the price of gold would be $2500-$3000 right now. If there is no manipulation then why does gold fall e.g. $23.00 sharply at 10 AM in New York). The big banks will all go down, probably Bank of America first.
So to protect yourself from $30.00 bread on Tuesday, $40.00 bread on Wednesday what do you intend to buy? People are only five meals away from starvation, so you need protection, some silver coins to buy bread and potatoes and you need gold and silver. Anyone that has bonds is a fool; buy bonds eight years from now when a $10,000 bond is on sale for $2000.00. If you store much gold, that becomes dangerous, if it's in your safety deposit box, it will be confiscated (again).
Before and while that scenario is developing and gold is rising, oil at only $300.00 a barrel you are sitting nicely with your gold, silver and oil stocks giving you wealth preservation; everyone here, from the smallest shareholder. I don't know why anyone would be in a hurry to sell Tesoro and take a better part of your gold holdings and buy something better. I count my SLI shares as good gold protection right now, next week, and next month. Other commodities such as grain will rise, but apart from their inherent problems, cannot keep up with gold. Your SLI shares are relatively safe in the coming wintry blast; when Lori says the time is now they can be exchanged into gold bullion.
Bernard Baruch, when asked what the market will do (inject SLI here) was famous for his answer "It will fluctuate." His father, not as well known, once told his son "A smart man learns by his mistakes; a smarter man learns by the mistakes of others." Bernake never heard that.