Thursday, November 18, 2010

While American Hoi Polloi Sneer At Gold, China Hoovers It Up...

This comment was sent to me from a long-time colleague who is over in Beijing right now.  He himself has been accumulating gold and silver for several years: 
Went to a major dept store that sells gold. 100 oz bars selling for cash. 3 or 4 deep lines of people buying. No photo taking allowed unfortunately. Mob scenes. Food up sixty percent in two months. Talk about deflation and people laugh at you as an idiot. Prechter would be stoned to death here.
The media dismissed the threat of inflation in the U.S. by rationalizing that the U.S. is "exporting" inflation to China. There is just no basis in fact or truth to that nonsense.  Inflation is starting here and will become unmanageable, especially for those on fixed incomes and social security.  Good luck.  Got gold?  It's your only shot at protecting yourself and your family from our Government.

8 comments:

  1. That and Bullets Dave, many many Bullets. And no I am no right wing wacko, but I will say this Crime is ticking up everywhere...case and point

    http://www.wral.com/news/local/story/8642374/

    And we are still in the easy times. Just wait, remember desperate people do desperate things.

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  2. Dave, that's a fantastic anecdote! Talk about real time on the ground observations! That's a gem...keep posting things like this.

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  3. Dave, any idea when SDRG will be on the TSX? I still have faith despite SDRG going down towards 19 cents when silver went up over a dollar

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  4. re: dragon. as far as i know they are working on it now. unfortunately i'm not an insider so i can't tell you a specific timeline. all i can do is repeat what they've released in the press and what Marc the CEO will tell you if you call him.

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  5. Can't afford the bread? Let them eat cake.

    I wonder how long it will take for the same to happen in the US.

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  6. Dragon - Let's not take over the blog with questions on SDRG.

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  7. Agree on Dragon. Anyone can go to the website and call the CEO. He returns every call from every investor and he's very approachable.

    Dan, it's happening here already. You just don't hear about it in the news.

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  8. I've brought up gold to various people in my circle (family, friends, random people, all ages and economic levels). Almost every single one has said "it's too expensive right now". There's no mania anywhere near in the US. Silver?? Fagetaboutit.

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