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Question: How to buy gold?
Answer:
Udja,
Gold has been recognized as a valuable substance from ancient times. Among the many attributes of gold it is likened to the solid rays of the sun; being non ferrous it does not rust, just as the sun does not lose its luster. it is a symbol of perfection and immortality. much lower regard in modern society assigns gold the status as precious metal and a recognized storehouse of wealth that is recognized by virtually all societies which is why it is used as a hedge in troubled times. All members of the Institute are advised to investigate how gold may help to safeguard wealth in the troubled and challenging times ahead. Remember that the purpose of learning about gold as a method to safeguard finances is a means to an end, to protect the capacity to practice the teaching. So in this light the study of and use of gold as a symbol of spiritual wisdom and wealth preservation is in keeping with our Neterian and Kemetic values and traditions.
You can buy gold in several different ways:
1- local coin dealer -this is called Bullion-do not get numismatic coins- get Krugerands - you pay no more than $20 over spot price of gold - right now price is $918 so you should pay no more than $938. This means getting physical gold you must hide in your house or in a safe in your home or in the bank [banks may close and then you may not get access][if government decided to confiscate deposits then the safe in the bank is vulnerable]. You can also get bullion from mcalvany.com or US Mint or itmtrading.com
2-Buy at depository -like Perth Mint, Monex or goldmoney.com - you purchase the gold and it is held for you in a safe location. The perth mint is in australia. depositories in the USA may be subject to confiscation so outside the country is preferred.
3- you can buy an ETF which is like a unit of stock. you do not take delivery of gold here and if anything happens to the stock exchange you may not get access to cash in the ETF
ETFs This is a very convenient way to buy gold since you can buy it like any stock through any stock broker. The symbol is GLD and the shares trade at the value of 1/10 ounce of gold. So here you only purchase units of $91.8 thus this is a way to get gold investment for those who have less funds.
It is recommended to get gold in bullion and some in investment instruments and if you have substantial funds place some offshore. Put at least 25% of assets in gold -this will offset the loss in value of other assets as the economic crisis worsens.
When the dollar falls it is expected by some analysts that gold may go up to 2k or more and at that point you may consider selling some of the gold and cashing into foreign currencies like Yen or Swiss Francs or purchase income producing foreign stocks - these will pay dividends for income. The strategy depends on your needs and capacities.
I suggest again as I did at the last conference that those interested should form a study group and discuss the strategies to cope with this issue and that will help members to learn about the economic crisis and the strategies to cope with it. Keep in mind that the economy is heavily manipulated so gold may not go to 2k but may rise less or more. In any case doing nothing and leaving assets in dollars is likely the worse thing to do. Realize that you must inform yourself and then make wise choices for yourself and family. Nevertheless there are other strategies along with gold that should be considered. Read the book Dollar Crisis and the following books. visit the following web sites.
http://www.americasbubbleeconomy.com/?cat=23
http://www.mcalvany.com/
http://www.goldline.com/
Question: How might the crisis play out this year 2009 ?
Answer:
Udja, we first experienced a financial crash, that was the collapse of credit and the bank failures we saw in 2008. That will get worse this year and more mortgage foreclosures will occur like the subprime mortgage failures of last year but worse- and 2010 will be more of the same. So real estate is expected to lose more value. More banks will fail. The financial crisis becomes an economic crisis, with the increasing job losses and business bankruptcies. The economic collapse can morph into a political crisis just as in Iceland; so there is a possibility of riots and increasing crime. Keep in mind that Iceland is considered a "Civilized" country. The USA is not considered a civilized country. So prepare for economic and political crisis in which the government may deploy increased police and military to control the population perhaps even martial law. So for the next 2-3 years the USA will be in economic and political crisis. The US Dollar is expected to resume the downturn later in 2009. If there is a full collapse the government may institute a new currency -in either case the current holders of assets or cash denominated in US Dollars will lose their value. We are not entering into a deflationary depression like the 1930s but, due to the bailouts, overspending, government and personal debt, trade deficits, etc. rather an inflationary depression and perhaps hyperinflation like Argentina's crisis or even Zimbabwe. In any case it is wise to learn the details and prepare accordingly. These events may occur by the end of 2009 or 2010--or not for some time--regardless, read the books and then take action accordingly. It is always prudent to watch events and be prepared for any eventuality. -HTP
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