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Chronological Thread  
  • From: lbsaltzman@aol.com
  • To: evansdk@earthlink.net, permaculture@lists.ibiblio.org
  • Subject: Re: [permaculture] gold and silver
  • Date: Sun, 14 Jan 2007 23:22:36 -0500

Let me suggest some caution. It is possible that gold and silver will hold
their current high valuations. It is even possible that gold and silver will
gain more value. But despite the current enthusiasm for precious metals,
short term swings can occur and if you buy at a high price and something
spooks the market you can find the value of your investment drop
dramatically, even if in the very long run it does well, the value might not
be there when you need it. Precious metals are extremely volatile. My
experience is that whatever the investment, most people invest at the top of
the market and sell at the bottom. There are always good stories being told
why this time it will be different and you can't lose money but don't believe
it. This is true of stocks, bonds, precious metals and every other kind of
investment.

It should also be remembered that gold mining is generally devastating to the
environment and that buying gold is in a sense supporting that devastation.

Also dealers charge fairly substantial premiums on both the buy and sell side
of the equation. So I suggest really research this carefully and go slowly.
Don't panic into buying even if the market keeps rising. There was an
excellent book written several years ago on investment cycles and bubbles. It
was called The Devil Take the Hindmost. The book covers investment manias
from the time of the Romans to modern times.

Having said all that holding some gold, particularly when you buy it when the
market is down, can be a good thing. But in total devastation, you can spend
it once then it is gone. Gold can have a role to play in catastrophic times
but it is not the long term solution.

Larry Saltzman


-----Original Message-----
From: evansdk@earthlink.net
To: permaculture@lists.ibiblio.org
Sent: Fri, 12 Jan 2007 8:05 AM
Subject: [permaculture] gold and silver


If the economy collapses world wide and paper money isn't worth anything and
everyone is hungry, what good will it be to have gold and silver?


Kathy Evans
evansdk@earthlink.net
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