# Gold based IRA?



## XeVfTEUtaAqJHTqq

I'm considering moving one of my IRA's into this Gold based IRA:

https://www.regalassets.com/gold-in-ira

It wouldn't be a huge portion of my retirement investments but a way to invest in tangible goods without having to actually hold physical gold.

Anyone done this or have any input on this?

The company in the link above seems to have a good reputation.


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## BigAl RIP

I am also looking for a place to put some retirment funds . I called my broker yesterday and told him to put on his "Tin Foil hat" and find me a good investment . What is your expected % return on investment ?


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## XeVfTEUtaAqJHTqq

BigAl said:


> I am also looking for a place to put some retirment funds . I called my broker yesterday and told him to put on his "Tin Foil hat" and find me a good investment . What is your expected % return on investment ?



I'm not really looking for a rate of return necessarily more as a protection against the impending currency bubble.  

This would be more of a safety net than a money making investment.  Although, once inflation kicks in and the bond markets crash it might be a great investment.

It all depends on how long the government can get away with printing $85 billion a month to prop up the markets.


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## Glink

> It all depends on how long the government can get away with printing $85 billion a month to prop up the markets.




Looking at the FX trades and what is going on in Treauries; that might be today.

The so called recovery could be coming off the tracks. 

As for holding paper gold, you have to wonder how may people think they own that same gold. Physical is where it is at.

I would think gold will drop like a rock in the short term.


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## XeVfTEUtaAqJHTqq

The problem with physical gold is the safe storage of it.  I know it can be done but the hassles are high.

It looks like a safety deposit box may be a good option though.  

The Gold IRA is basically $225 a year for "storage" and insurance.  I can get a big safety deposit box for less than that or maybe several boxes at different banks. 

The advantage to the Gold IRA is that I can move some of my "official" retirement funds into a safer place than stocks, bonds, and mutual funds.


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## Glink

PBinWA said:


> The problem with physical gold is the safe storage of it.  I know it can be done but the hassles are high.
> 
> It looks like a safety deposit box may be a good option though.  I really doubt the Gov. will confiscate again; but if they do your gold is gone in a safe deposit box. I had an uncle who put a bunch of pre 64 silver in a SDB; when he went to get it, it was no longer silver.
> 
> The Gold IRA is basically $225 a year for "storage" and insurance. Same thing as paper; how many times has it been sold; and how many people think they own that same chunK?  I can get a big safety deposit box for less than that or maybe several boxes at different banks. The advantage to the Gold IRA is that I can move some of my "official" retirement funds into a safer place than stocks, bonds, and mutual funds.



I am no expert by a long shot; but I have studied on it enough to generate a healthy set of paranoias. Please don't let me dissuade you; just sharing my delusions.


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## XeVfTEUtaAqJHTqq

I understand the paranoia factor.  I am just looking to spread everything around as much as possible.  Even having physical gold in your possession is having everything in one basket.

The goal is to spread the risk around and make it harder for a single event to completely decimate you.


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## waybomb

I can give you some paper showing part ownership of the Illinois Tollway System. Millions of cars, at least 75 cents through each toll. Think of the money.

Be careful.


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## 300 H and H

I've owned paper gold as a part of my retirement funds. Have in the perspectus in hand is an eye opener. Supposedly there is gold to back it, but when you read all of it you realize pretty fast That the fund houses it in a third party bank and doesn't insure it either.... I had the feeling if SHTF I was holding what may be all of what is left of my investment. The fund seeming had no liabity for what might happen to that gold they supposedly hold. 

Comodities were dropping as the stock market rebounded, and it didn't take me long or much loss to get out of that fund...

Regards, Kirk


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## Kane

300 H and H said:


> I've owned paper gold as a part of my retirement funds. Have in the perspectus in hand is an eye opener. Supposedly there is gold to back it, but when you read all of it you realize pretty fast That the fund houses it in a third party bank and doesn't insure it either.... I had the feeling if SHTF I was holding what may be all of what is left of my investment. The fund seeming had no liabity for what might happen to that gold they supposedly hold.
> 
> Comodities were dropping as the stock market rebounded, and it didn't take me long or much loss to get out of that fund...
> 
> Regards, Kirk





> The problem with physical gold is the safe storage of it.  I know it can be done but the hassles are high.
> 
> It looks like a safety deposit box may be a good option though.
> 
> The Gold IRA is basically $225 a year for "storage" and insurance.  I  can get a big safety deposit box for less than that or maybe several  boxes at different banks.
> 
> The advantage to the Gold IRA is that I can move some of my "official"  retirement funds into a safer place than stocks, bonds, and mutual  funds.


 
Paper gold ...  bah.  Gold-backed IRA ...  better.  But if you don't have in your hand (or buried in the back yard) you don't have it.  

The government can enact some pretty crazy laws in the blink of an eye.  They've done it before.  So even gold "safely" stored in a New York repository is NOT safe.

I put 85% of my 401K in PM's back when AU was $720, AG was $11 and have never looked back.  Screw the phony 'quantitative easing' and the phony DOW run up.  Trust in this: watch what happens this Summer when Bernanke stops printing phony USD's.  Watch your 401K go with it.

I even went ahead and paid the taxes to early-withdraw all PM's, which now rest quietly at home in a very safe place, owned free and clear.  My thinking was, pay the tax then (based upon the $720/oz.) rather than pay tax years from now when the price is $3,000/oz.

Like I say, if you don't have it in hand, you don't have it.  Do not trust your government.  They would like nothing better than to slap a tax on PM disbursements from the repositories, or even go as far as to confiscate stored PM's for 'the general welfare'.

Watch out.  They've done it before.


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## waybomb

It is yellow metal. That is all.

It is ONLY worth what someone will pay. In the case of this yellow metal, the exact same forces that control its price is the same that control stock prices and other financial instruments.


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## jpr62902

waybomb said:


> It is yellow metal. That is all.
> 
> It is ONLY worth what someone will pay. In the case of this yellow metal, the exact same forces that control its price is the same that control stock prices and other financial instruments.


 
And it doesn't pay dividends.


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## muleman RIP

And it dropped $87 today!


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## waybomb

You gold folks - tell me why gold dropped today. It is the exact same molecular make up as yesterday. It is still a soft almost useless metal that people adore.

Company values go up and down based on many things - earnings, balance sheet, activist shareholders, activist board, legal issues, govt action, etc. 

But what made the value of this soft heavy metal drop like, well, a rock?

Here ya go - speculation. That's all it can be. Good luck riding with the speculators.


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## FrancSevin

Goldhas been dropping rapidly for the last 60 days or so. At $1,274 it is gettingscary for those who bought it last year. But there is nothingto indicate this trend will continue.

Stockshave beenbooming, bonds are flat so that money has pumped the market. 

things cycle and right now gold is a bargain. wishg i had someloose cash right now.

I took the kids dfownpayment and bought AU under $1300 and sold most of it above $1,600 last year just in tiime for the kids to use to buy their house. I got lucky for ashort hold. Gold is for long holding and you have to buy it cheap, like KANE did,to make out well.

I would say at $1,200 were are rubbing close to cheap.

Buy and hold real gold. Then forget about it, just don't foget where you hid it.


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## 300 H and H

Interstingly nearly all the markets were down today. the dollar is higher, much so. Not really sure as to why that is either. Right now all I can think about is farming, so hard to wrap my mind around it too much. I do however think the wind is about to change. China trippled there interest rates recently, to stop a banking crisis. Trouble there....that could be for us as well?

Brenanke suggest they are about to stop the QE3 too, if the economy stays "robust". How do you like that term.. This is one reason for the sell off today. The free money injections via the the big banks is about to be over. Things could get tight....

I have a feeling it might be time to reconsider SH and go short.. If we only knew the day, and the time. Comodities will get hot then, as it will be the only game in town. Gold will do very well if SHTF should come to pass.

Regards, Kirk


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## Kane

waybomb said:


> You gold folks - tell me why gold dropped today. It is the exact same molecular make up as yesterday.


The AU drop is result of several things.  A lot a day-traders got rid of paper gold along with other stocks.  But the market shock over the last few days was a global phenom.  The USA markets shed 2%, while the European markets shed almost 4%, kicking the EURO in the ass. And since AU is tied to the USD, whenever the EURO takes a hit, the USD is artificially strengthened (and AU dips).  Go figure.  Kinda' like the price of oil (another nice commodity).



> *Franc said:* Buy and hold real gold. Then forget about it, just don't forget where you hid it.


Yep.  Hold (and hide) real PM's for the long haul.  Mining stocks aren't a bad idea either. It's the day-traders in paper gold that take the risk of high reward or the obvious downside, just like any other equity.

But as far as this conversation goes, the people that pooh-pooh gold are the people that don't have any.


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## jpr62902

I don't poo poo gold, it just doesn't meet my investment goals, which are to generate an increasing stream of income for retirement without having to rely on capital gains for that income.

Kane bought gold at $720/oz.  Was that in 2007?  If so, that's a compound annual growth rate of about 10%, assuming yesterday's price of $1274.00.  Respectable?  Sure.  But you're relying on what the market determines its value to be.  What if you _need_ to sell when gold is down?


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## FrancSevin

jpr62902 said:


> I don't poo poo gold, it just doesn't meet my investment goals, which are to generate an increasing stream of income for retirement without having to rely on capital gains for that income.
> 
> Kane bought gold at $720/oz. Was that in 2007? If so, that's a compound annual growth rate of about 10%, assuming yesterday's price of $1274.00. Respectable? Sure. But you're relying on what the market determines its value to be. What if you _need_ to sell when gold is down?


 
One could say the same thing about stocks,,,,or have we forgotten the last buble burst?

Gold shouldn't replace stocks , and won't if yo are looking for an income stream.  I guess it depends on how confident one it with the future of our economy and the value of the dollar.  "Good faith and trust" is wearing thin worldwide.


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## jpr62902

FrancSevin said:


> One could say thesame thing about stocks,,,,or havewe forgottenthe last buble burst?


 
Not at all.  Check out the dividends paid by companies like P&G, Johnson & Johnson, Chevron and others during and after the corrections of 2000 and 2008.


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## FrancSevin

Don't get me wrong. Gold is not the answer to getting richer. For years Gold promoters have been promising $ 5,000 an ounce.

I think it has kissed $1,900 once in the last five years.

Kane and I did well with gold because we bought it right. I bought some at $300 or so and then two years ago I did a private vehicle sale deal with gold that netted me a small gain just it time for my needs. Brilliance? Hardly, luck most likely. Some stocks I bought at the same time have done well, some have evaporated in value. It's all a bit of a gamble even if one is smart about it. 

People who win say they are intelligent buyers. People who lose, blame it on the government.


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## Kane

Printing $85B a month in new phony USD's for 5 years helped no one but the Big Banksters ...  the same folks that gambled wildly with other people's money  ...  the same folks with immoral compensation incentives ...  the same folks that caused the Great Depression ...  the same folks bailed out by the taxpayers ...  the same folks profiting wildly from the jobless recovery. 

Thieves, every one of them.

Yet no one went to jail.  Folks at the top of the food chain will never eat their own


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## jpr62902

FrancSevin said:


> Don't get me wrong. Gold is not the answer to getting richer. For years Gold promoters have been promising $ 5,000 an ounce.
> 
> I think it has kissed $1,900 once in the last five years.
> 
> Kane and I doid well with gold becuase we bought it right. I bought some at $300 or so and then two years ago I did a private vehicle sale deal with gold that netted me a small gain just it time for my needs. Brilliance? Hardly, luck most likely. Some stocks I bought at the same time have done well, some have evaporated in value. It's all a bit of a gamble even if one is smart about it.
> 
> *People who win say they are intelligent buyers. People who lose, blame it on the government*.


 
True dat!


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## Kane

A Shock To The Loose Monetary Policy Will Push Gold Higher: Boechk                             
                            By Neils Christensen of Kitco News
                            Friday June 21, 2013 9:04 PM                                                                                 

*(Kitco   News) - *It  is only a matter of time before there is a shock to the current  monetary policy system, said Tony Boeckh, famed Canadian economist,  editor of the Boeckh Investment Letter and president of Boeckh  Investment Inc.

Boeckh was the keynote speaker at a luncheon Wednesday, hosted  by the Montreal Economic Institute, a public policy economic  think-tank, based in Montreal, Quebec. Boeckh said that based on recent  history, gold prices should move higher as a result of “terrible  economic policy decisions.” He added that he sees a lot of similarities  between the major bull rallies in the 1970s and early 2000s and what is  currently happening.
                       Although prices could continue to go down in the short term,  as seen Thursday, when gold hit a 2 ½ year low, Boeckh said he expects  gold to rally in the long term as investors protect their capital in a  high inflationary environment. Boeckh added it is difficult to make a  strong short-term bullish argument for gold with a generally weak  commodities sector, a strong U.S. dollar and higher equity prices.
                       “The market is down about 30%,” he said. “We could still go  down a lot further in gold prices and still leave in tack the secular  bull market that began in the year 2000.” 
                       “I don’t own enough gold but I do think it is a good thing to hold,” he added.
                       During his presentation, Boeckh used the example of an  upside-down pyramid to describe the situation as a result of the current  monetary policy. At the bottom is gold, which he referred to as “the  ultimate bed rock of stability.”                      
                                             “The pyramid builds … with decreasing quality as you go up,”  he said. “When governments are inflating with money and credit, money  goes up the pyramid and it gets bigger and bigger. Eventually it gets  top heavy and it starts to get unstable.” 



_Image  courtesy of Tony Boeckh: During his presentation, Boeckh used an  inverted pyramid to describe how loose monetary policy has caused money  to flow away from gold and into lower quality investments. Boeckh said  the pyramid will start to get unstable and a shot to the system should  cause money to flow back down to the yellow metal._                                                Boeckh said gold has taken a hit this year because of the  economy is improving in an “artificial environment.” Although private  and household balance sheets have improved over the last few years, any  improvement has been overshadowed by an increase in sovereign debt.                        
“Things are not looking so bleak,” he said. “The great  reflation managed to pump some air into the balloon. The key question  here is, how solid is that improvement?”
                       Because of increased public sector debt, Boeckh said he expects to see more bubbles in asset, commodity and energy markets.
                       “The key point to always keep in mind here is when you create a  lot of money it has to go somewhere and it will go into asset markets,”  he said.
                       Although the Federal Reserve is starting to talk about an exit  strategy, Boeckh said because there is so much money in the system,  when inflation starts to pick up it might be too late for them to try to  control it. He said today central banks have an attitude that a bit of  inflation is a good thing. He witnessed the same attitude when he worked  at the Bank of Canada in the 1960s and quickly inflation reached 15%.
                       “We have to be aware of a little bit of inflation and whether  it can be contained or not, especially when there is this backlog of so  much central bank liquidity that has been put into the system,” he said.
                   Boeckh is an author of the book The Great Reflation; from 1968  to 2002, he was also chairman, chief executive and editor-in-chief of  Montreal-based BCA Research. From 1968 to 1973 Boeckh taught economics  and finance at McGill University in Montreal and in the early 1960s he  worked for the Bank of Canada.
*By Neils Christensen,  of Kitco News  nchristensen@kitco.com



Does anyone in their right mind think Ben Bernanke or Barack Obama is smart enough to control this?  Of course Bernanke is leaving ...  just about the time that SHTF.
*


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## Don Coyote

I've been telling people since last year to dump gold. As the economy improves, Gold investment is going to be replaced by stocks. I see it getting back down to about $600.00 within the next five years.

But ten years after _ THAT _ ... prepare for another recession and buy it up, again, while it's cheap. 

Gold is only valuable during a recession. (Rising gold prices are the _ Very First _ indicator that a recession is coming). 

It's a rather predictable cycle that's been going on throughout my entire lifetime.


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## Kane

Don Coyote said:


> I've been telling people since last year to dump gold. As the economy improves, Gold investment is going to be replaced by stocks. I see it getting back down to about $600.00 within the next five years.
> 
> But ten years after _ THAT _ ... prepare for another recession and buy it up, again, while it's cheap.
> 
> Gold is only valuable during a recession. (Rising gold prices are the _ Very First _ indicator that a recession is coming).
> 
> It's a rather predictable cycle that's been going on throughout my entire lifetime.


Dunno, Don.  The phony DOW run-up has been based upon Ben Bernanke printing $85B in phony USD's EVERY month for the past 5 years ...  creating a phony job-less recovery and killing folks with saving accounts.

If you're a Big Bankster or an equities Trading House  (no real difference since Glass-Seagal), all good news.  But just wait until Ben quits printing money.  Just wait until Ben quits monetizing the American debt (something he said he would never do).  This is something you've never seen in your lifetime.


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## Don Coyote

Kane said:


> Dunno, Don.  The phony DOW run-up has been based upon Ben Bernanke printing $85B in phony USD's EVERY month for the past 5 years ...  creating a phony job-less recovery and killing folks with saving accounts.
> 
> If you're a Big Bankster or an equities Trading House  (no real difference since Glass-Seagal), all good news.  But just wait until Ben quits printing money.  Just wait until Ben quits monetizing the American debt (something he said he would never do).  This is something you've never seen in your lifetime.





..... The Fed has been printing worthless money for as long as I've been alive. If the "Federal Reserve" were actually part of the Federal Government, perhaps there might be less corruption?

Cell phones, satellite television, and home computers are responsible for the overwhelming economic expansion during the Clinton administration. (As well as the near-quadrupling of the GDP). All we are waiting on for the next "Big Bang" is the final decision on the new alternative fuel system for automobiles. (Electric, natural gas, or hydrogen cell). When we finally begin the transition from gasoline to "what's next", that's when we will see the next big surge in the economy, and the REAL recovery. That's when gold will bottom out. 

I expect that within the next two or three years. (My money is on batteries, but they are still experiencing unforseen issues and delays..... they all expected to be in high gear, by now). 

I still recommend you dump your gold.


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## Bamby

Not really about "Gold" itself, but related in a since...



Prior to 1964, American coined dollars, halves,  quarters and dimes were ninety percent silver. In 1963 you could buy a  gallon of gas with a 1963 quarter. Today you can still by a gallon of  gas  with a 1963 quarter. The American Government was bribed into taking  the precious metal out of the coinage in order to allow the Fed to more  easily steal your wealth through the erosion of your buying power  (inflation). If it wasn't for the Federal Reserve, the price of  everything would continually go down, instead of up . The standard of  life, for everyone, would get better, not worse. If the Dark Side hadn't  debased the value of the coinage, a person working for $5.00 an hour  would have the purchasing power of what amounts to $50.00 an hour  today...twenty silver quarters = $5.00. Let's say a silver quarter is  worth $2.50 today. If you worked eight hours a day, five days a week,  fifty-two weeks a year, for $5.00 an hour, you would be making $9600.00  before taxes. But consider how much less you would be paying in taxes if  you only made $9600.00 per year. Meanwhile, your income would have the  purchasing power of over $96,000.00. We (the middle class) would be much  better off, and all these stupid wars and stupid bailouts and parasitic  thieves in government and the banking community would not be possible.

I struggle with trying to figure out why we, as a  Nation, have allowed this to happen here. Is it because the bulk of the  population has been (intentionally) reduced to a bunch of apathetic  mush-minded sheeple? I am obsessed with the Federal Reserve (the money  changers) because they are the root of all evil in this country.


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## 300 H and H

Bamby said:


> I struggle with trying to figure out why we, as a Nation, have allowed this to happen here. Is it because the bulk of the population has been (intentionally) reduced to a bunch of apathetic mush-minded sheeple? I am obsessed with the Federal Reserve (the money changers) because they are the root of all evil in this country.


 
I sure am with you here. I also stuggle with how we might find a solution, and be a great country once again....

Regards, Kirk


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## Kane

Don Coyote said:


> Cell phones, satellite television, and home computers are responsible for the overwhelming economic expansion during the Clinton administration. (As well as the near-quadrupling of the GDP). All we are waiting on for the next "Big Bang" is the final decision on the new alternative fuel system for automobiles. (Electric, natural gas, or hydrogen cell). When we finally begin the transition from gasoline to "what's next", that's when we will see the next big surge in the economy, and the REAL recovery. That's when gold will bottom out.
> 
> I expect that within the next two or three years. (My money is on batteries, but they are still experiencing unforseen issues and delays..... they all expected to be in high gear, by now).


What is this "final decision" on an alternative fuel?  Just who will be making this decision?  How is a 'fuel' related to a form of monetary transaction?  WTF?

To think fossil fuels will 'go away' is naive.  To think some other fuel will take the place of cheap fossil fuels overlooks the obvious. Man's greed will intervene.  Batteries cannot heat a home.  Solar power cannot run a factory.  Fuel cells are a myth.  If anything, invest NOT in batteries or natural gas, but in the construction of the missing infrastructure.

But by his greed, Man will burn ALL of the planet's fossil fuels ...  every last drop of oil ...  every last wiff of natural gas ...  every last chunk of coal.  Get over it.

My money is in oil.  My wealth is in gold.


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## Don Coyote

Kane said:


> What is this "final decision" on an alternative fuel?  Just who will be making this decision?  How is a 'fuel' related to a form of monetary transaction?  WTF?
> 
> To think fossil fuels will 'go away' is naive.  To think some other fuel will take the place of cheap fossil fuels overlooks the obvious. Man's greed will intervene.  Batteries cannot heat a home.  Solar power cannot run a factory.  Fuel cells are a myth.  If anything, invest NOT in batteries or natural gas, but in the construction of the missing infrastructure.
> 
> But by his greed, Man will burn ALL of the planet's fossil fuels ...  every last drop of oil ...  every last wiff of natural gas ...  every last chunk of coal.  Get over it.
> 
> My money is in oil.  My wealth is in gold.




Based on current rates of consumption, we only have enough oil left in the ground to maintain the status-quo for 60 years. After that, we hit a steep slippery slope. 

Now, the claim that the planet is running out of oil is, indeed... an exaggeration. The fact is, an oil field is abandoned and considered "Dry" after only 30% of the oil has been extracted. After that, it won't come out of the ground fast enough to make money doing it. Obviously, if they aren't going to make money doing it..... they're not going to do it. Therefore, the planet is NOT going to "Run Out" of oil,  but from an economic standpoint..... yes, it is. 

The oil industry knows this and have been the BIGGEST INVESTOR in alternative fuels. In order for the oil industry to survive for centuries, we HAVE to get off gasoline. We all need crude oil for more than just automotive fuel. (Oil, grease, commercial and industrial solvents, plastics... etc)

"Fossil Fuels" are NOT going to "go away" as you put it..... but it is imperative that we stop using the Lion's share of crude oil for gasoline. The future of the oil industry depends on it. 

And down is the only place Gold is going to go, at this point. As the economy improves, Gold will slide... and will likely settle back down around $600.00 or so. (Within the next 2-3 years). 

Oil, at the moment... is a great place to be, right now. If you're heavily invested in American oil, you're doing good. (And will be for a while).


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## waybomb

Don Coyote said:


> Based on current rates of consumption, we only have enough oil left in the ground to maintain the status-quo for 60 years.




Nope, we hit peak oil years ago. Ppphhhhtttt. Seriously, you believe that?
You also believe oil came from dead dinosaurs as well, correct?


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## Don Coyote

waybomb said:


> Nope, we hit peak oil years ago. Ppphhhhtttt. Seriously, you believe that?
> You also believe oil came from dead dinosaurs as well, correct?



"Jack The Ripper"s name was Francis Tumblety.

"Bigfoot" as featured in Bob Patterson's 1967 film was a man in a suit. His name is Bob Herimonius.

The Olympic is the ship that sank in 1912 after hitting an iceberg. NOT the Titanic. It was the biggest insurance fraud case ever executed, after the Olympic sustained catastrophic damage after running aground after a collision with the RMS Hawke in 1911.



Your automobile's engine is controlled by 38 sensors and a computer because 87 octane isn't even considered "Gasoline". Today's "Premium" grade gasoline doesn't compare to what I used to burn in my first car. Are you old enough to remember "Leaded Regular"? This was the *  CHEAP  * stuff..... and it was *  98  * octane!!! The reason we haven't already hit that slippery slope I mentioned earlier is that we managed to extend the planet's supply of crude by reducing the quality of gasoline by about half. We made our cars run on _ SHIT _ gas. 

..... Do you think your car is computer-controlled for efficiency and environmental cleanliness? .....Ppphhhhtttt.


The 87 Honda Civic got 56 miles per gallon because it still ran on REAL gasoline. Hell,..... my 1974 Volkswagon Beetle got 34mpg..... better that any car I've owned since 1992.

We're passed Peak Oil. That's the only reason the USA is finally tapping it's underground supply. We're going to be the LAST supplier left before the "Weaning". 


But don't just take MY word for it..... lets let this thread sit idle for about 5-10 years and we'll see what the world looks like, then.


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## Kane

[FONT=Verdana, Arial, Helvetica, sans-serif]*If the Liberals would leave us alone, America would be energy-independent.  We have yet to discover just how much oil we have at our disposal.  

Alas, fucking Liberals.

Massive Oil Deposit Could Increase US reserves by 10x
	

	
	
		
		

		
			
		
		
	


	


*[/FONT]                                                                   [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]America  is sitting on top of a super massive 200 billion barrel Oil Field that  could potentially make America Energy Independent and until now has  largely gone unnoticed. Thanks to new technology the Bakken Formation in  North Dakota could boost America’s Oil reserves by an incredible 10  times, giving western economies the trump card against OPEC’s short  squeeze on oil supply and making Iranian and Venezuelan threats of  disrupted supply irrelevant.[/SIZE][/FONT]

                         [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]In  the next 30 days the USGS (U.S. Geological Survey)  will release a new  report giving an accurate resource assessment of the Bakken Oil  Formation that covers North Dakota and portions of South Dakota and  Montana.  With new horizontal drilling technology it is believed that  from 175 to 500 billion barrels of recoverable oil are held in this  200,000 square mile reserve that was initially discovered in 1951.  The  USGS did an initial study back in 1999 that estimated 400 billion  recoverable barrels were present but with prices bottoming out at $10 a  barrel back then the report was dismissed because of the higher cost of  horizontal drilling techniques that would be needed, estimated at  $20-$40 a barrel. [/SIZE][/FONT]

                         [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]It  was not until 2007, when EOG Resources of Texas started a frenzy when  they drilled a single well in Parshal N.D. that is expected to yield  700,000 barrels of oil that real excitement and money started to flow in  North Dakota.  Marathon Oil is investing $1.5 billion and drilling 300  new wells in what is expected to be one of the greatest booms in Oil  discovery since Oil was discovered in Saudi Arabia in 1938. [/SIZE][/FONT]

                         [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]The  US imported about 14 million barrels of Oil per day in 2007 , which  means US consumers sent about $340 Billion Dollars over seas building  palaces in Dubai and propping up unfriendly regimes around the World, if  200 billion barrels of oil at $90 a barrel are recovered in the high  plains the added wealth to the US economy would be $18 Trillion Dollars  which would go a long way in stabilizing the US trade deficit and could  cut the cost of oil in half in the long run.

*BTW, precious metals have been the trusted form of barter since the dawn of man.  It will always be so.  Fiat currencies are unsustainable.*
[/SIZE][/FONT]


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## Don Coyote

Kane said:


> .....If the Liberals would leave us alone, America would be energy-independent.  We have yet to discover just how much oil we have at our disposal.




No,..... we KNOW what we have, and _ * HAVE KNOWN * _ for decades. 

We've been sitting on it for a rainy day. 

.....It's starting to sprinkle.


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## waybomb

Never reached peak oil. Never even got close.we just keep finding more and more


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## Don Coyote

waybomb said:


> Never reached peak oil. Never even got close.we just keep finding more and more



I hope you're right. I'd love to see $1.29 a gallon gas again.


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## Don Coyote

In fact....... if gas hits $1.29 a gallon, Gold will hit $400.00 an ounce. 

(An interesting fantasy to entertain). 

.....Bring it on.


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## Kane

Don Coyote said:


> In fact....... if gas hits $1.29 a gallon, Gold will hit $400.00 an ounce.
> 
> (An interesting fantasy to entertain).
> 
> .....Bring it on.


Generally speaking, the only folks that pooh-pooh gold are the ones that don't have any.


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## Don Coyote

My point is,..... If gas prices revert back to pre-war rates, the economy will accelerate to warp speed. People will celebrate the extra money they have in their budgets and pockets.

..... And gold will lose it's unnaturally high value.

But of course..... gold will rebound again at the start of the _ NEXT _ recession.


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