By SGT
On September 7th I had the good fortune to take part in another conversation with some of the biggest names in the precious metals world; Bill Murphy, Rob Kirby, Bix Weir, Mike Maloney, Eric Sprott and David Morgan. The interview has just been released in 4 parts by Troy James of TrafficTorrentVooDoo who organized the call, and it is posted here now for your consideration. One note, should you care to listen to my comments, you will find them in Part 4.
| Biggest Names Discuss Silver, Gold and the Global Economy: Follow Up Call (4 Parts) | |
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If a person really believes a time of Great Inflation is nearing, wouldn’t the logical thing to do (if he is trying to profit from government mishandling) is take on debt in dollars and purchase commodities? For instance, getting a large loan with a fixed rate and purchase thousands of dollars in gold and silver. I say that because if inflation really hits hard, the money owed to the loan originator will dwindle quickly to something that can be repaid quickly a couple years from now.
Thoughts?
No it is definitely not. You just witnessed the precious metals manipulation by the means of margin hikes and margin calls. If you take credit leaveraged gambling papers, you’ ll definetely lose the game against the banking cartell. Fraud and breaking their own laws is what made them rich. Only fools get trapped by taking loans and investing with it. Thats the reason why market manipulations work so fine and the small guys are always stripped off and washed out !!!
True, but at this point, the national debt is so bad, it cannot be repaid, and many are talking about an entire collapse of the monetary system. EVERYONE is screwed. At the end of this game, no one will have good “credit” except the super rich. So it won’t really matter. If you can get a loan with a fixed rate, or any loan whatsoever, then buy PM’s…
Yes, you are playing by their rules, but their rules have become such that they cannot even bear them. Their own rules will be exactly what has crushed them. So basically, by taking out a loan and buy metal, you are basically screwing them back. Most lenders will never see the money due to them. It is just too much. And things are just WAY too damn expensive anyway. To get a bacheolor’s degree at Villa Nova University, by me, it is going to cost you over $200,000. There is no reason nor any justification for such prices, except extreme, self centered, egotistical greed and self absorption. I say screw them…take out a loan…get any line of credit you can and buy metal. If they want to strangle you for the rest of your life, Fine. But you better be sure they don’t get away with their skin either.
But don’t take it from me. Take it from Peter Schiff.
Search the recent history of this website for a video recently posted with Peter Schiff, wherein he answers a question a student asked him. The question, funny enough, is exactly on this subject. The student asks if he should go ahead and take out an additional grand or two in student loans and use it to buy PM’s.
David ,
this strategy may only work out, if the bank doesn’t insist on an proof for what the money is used for and if the bank 100% loses the track of the money your “borrowed” (well, a bank does not really lend as it should be known meanwhile, it gives you credit, funny money just created out of thin air, bits and bytes).
Whatever, if you manage to draw the money in cash and buy precious metal also with cash, then and only then it could work out. But I think it won’t.
You could stack up foods and cigarettes however.
Keep far away from fraudulent banking papers, futures, longs, etc. The cartel will wash you out and at the same time you contribute to falling “silver-gold paper prices”.
Keep in mind: The end game hast started. The banking cartel is fighting for survval. It is usesless, but hurt rats without future prospects fight like lions !!!
I see what you are saying brotha….I’m already shored up in student loan debt and none of it has earned me a cent in return so far. Personally, I wish I would have just taken out that much money in a standard bank loan and bought all PM’s with it instead of a college degree which does nothing for me now.
Sharp and piercing.
Great information, loose format. The original format, for me, was much different in that, the group questions I like better. The information, especially from Mr Kirby, was awesome. Your point regarding the Swiss Franc was spot on and I am surprised that none of the others discussed that situation, especially Eric Sprott who was discussing the banking fiasco. If you could secure an interview with Mr Kirby that would be wonderful. Eric Sprott would also be a great interview, but I would really like for you to interview Mr Kirby. I have really been missing out by not following his commentary. Thanks for all you do and looking forward to your next interview.
Much thanks SGT for another excellent conference call, I find what Rob Kirby presented rather thought provoking! The historic data he presented should be taken seriously and studied in depth for those who are having second thoughts about their silver position, thanks to the recent days blood bath. I was in one of my local dealers shop today, he said he was overwhelmed from the amount of silver he has sold since yesterday, he also stated there were VERY FEW SELLERS! I made two trips today, one early morning, and one this afternoon. I have not been this excited about buying silver since $22! Now I understand how a crack addict feels
The man still persists that silver will be between $50-$75 by EOY 2011, and he is not the optimistic type to spout off radical numbers. To change things up Sean, instead of giving you an A++, I’m gonna rate this a 900 on a credit scale! LOL, sorry SJB 
Hey Phez, I’m glad your addicted to getting your fix in Ag, instead of crack. I’m buying some more this weekend at these prices.
only way they can win ~ freakin’ crooks!
http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
Keep up the good work. I love all the micro docs, beautifully presented. I have followed you for a while, but in light of the attacks by BofA, I wanted to leave a comment and let you know that there are many many people who appreciate your work, don’t stop, we need more citizen bloggers like you.
I really appreciate it. Thanks for taking the time Nick.
Hi – I love listening to guys who get it, both from an economic standpoint buy also from a historical perspective. I only wish I ran into you guys 5 years ago. Ironically, I was an avid coin collector in the 80′s, then real estate, but the historical was missing and so was the timing. I am back on track and, not investing, but disengaging from a collapsing economy by converting my assets into mostly silver, and mostly with Mike Maloney. I also am a subscriber of Bob Chapman.
You guys would be doing yourselves a favor to get Bob Chapman in on one of these sessions. The man is a true giant in the industry and, being a former intelligence agent, is a master in the geopolitical and historical events that this battle of truth vs the Big Lie is all about. Thanks so much. You guys are helping so many guys like me who couldn’t put their finger on it, but now can see clearly again!
Check this out:
TREASON in the United States : Bob Chapman [Part 1 of 2]
http://www.youtube.com/watch?v=zy6nD5Cn82o
REGAINING LIBERTY : Bob Chapman [Part 2 of 2]
http://www.youtube.com/watch?v=aDlPKozIq9U
Funny you should mention those two in the same sentence. Bob regards Mike as a con man. Heard that on the Financial Survival radio show.
Please support Ron Paul’s Bill HR 1098
Mr. PAUL introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the coTo repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.mmittee concerned
Thank STG
Great conference, glad to see such free thinking. SGT: i was hoping you could post a video I saw call Fight of the century: Keynes VS Hayek round 2. i think all of us would like it.
Ok. here is what I don’t understand. If the ptb are manipulating gold and silver prices, why should we believe that the prices will someday increase by several fold? (I’m a novice, be kind).
update to bottom call – revised to $21 ish… last major support line..
Cheers…
we shall call these biggest name “metal senate”