Comments for Nation of Cards

Comment on Dollar Finally Ceding to Euro? by Dollar “Attacked”

Dollar “Attacked” — Thu, 14 May 2009 13:13:45 +0000

[...] we discussed earlier, the dollar appears to be in decline again. Whether it will turn into a full-fledged [...]

Comment on Silver and Gold Buying Opportunity? by greg

greg — Mon, 02 Mar 2009 14:27:50 +0000

i agree with sanders, but precious metals for wealth preservation only, not capital gains. i am precicting a 750 point loss in the dow jones this week as the panic phase of the financial collapse is beginning today with the monstrous loss reported by aig. strap your seat belt on, the ride to dow 5000 has begun.

Comment on Numismatic Gold Worth It? by greg

greg — Mon, 16 Feb 2009 03:13:40 +0000

I disagee with Franklin Sanders. On April 5, 1933, President Franklin Delano Roosevelt issued an Executive Order banning the private ownership of gold coins and bullion. Not only did FDR ban private ownership of gold, his order threatened fines and imprisonment for any American who failed to surrender his or her gold for paper money.

One of the critical exceptions to gold confiscation was “old coin having a recognized special value to collectors of rare and unusual coin…..”

Rare Coins Offer These Proven Advantages:

Not Subject to Confiscation – Most modern issue bullion coins like Krugerrands and Canadian Maple Leafs can be confiscated in a national emergency. Pre-1933 US Gold coins are specifically exempt from confiscation as “collector coins.” I suppose they could change the law, but I doubt that the US Congress will take on that law change while they have much more important things to do. Remember, laws are made in Congress not the Administrative branch. Obama can’t touch semi-numismatic gold coins.

Rare Coins are Private and Non-Reportable – Sales of Pre-1933 US rare coins are non-reportable. We are not required to report your purchase or your sales to anyone. However, the sale of many modern bullion coins over 25 ounces requires dealers to file a 1099-B with the I.R.S. reporting your profits at the time of the sale.

Pre-1933 Gold Gives You Leverage – A bull market in precious metals has shown to dramatically drive up demand on prices for older US Rare Coins. This gives you a “Double-Profit” Opportunity.

Many US gold coins are very price sensitive and go up almost immediately with the gold market. In the past, rare coins have offered two to three times the leverage of holding ordinary gold bullion coins like American Eagles.

While no one can guarantee the leverage of Pre-1933 gold over gold bullion, just knowing past performance will help you make a more informed decision

Sanders talks about the premium. This is not true at all. I am paying about 25% over spot for pre-1933 coins, but the sales comission is only 6% of that 25%. The remaining 19% is numismatic value not premium. I am able to sell back to my supplier at 19% over spot and due to the possibility of leverage at times I sell up to 30% over spot. This coupled with the non-reportable & non-confiscatable gives pre-1933 semi-numismatic a clear advantage over bullion. Sanders needs to read the law!

Comment on Fire Sale Ahead by admin

admin — Sat, 31 Jan 2009 17:27:27 +0000

Great point, Booboo, thanks for enlightening us!

Comment on ‘Revolution, food riots in America by 2012′ by admin

admin — Sat, 31 Jan 2009 17:25:21 +0000

Sorry, I really should get around to adding a Feedburner link for that, as well as e-mail updates, sometime. But then again I need to post more often too! There’s so much to examine…

To the feed. It depends on what your RSS reader supports.

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Thanks for your interest!

Comment on Jefferson on Private Bank Currency by greg

greg — Fri, 09 Jan 2009 22:56:20 +0000

hooray for TJ. He is my favorite founding father. If he were living today he would be a Ron Paul supporter. OR would Ron Paul be a Thomas Jefferson supporter? It doesn’t matter. What does matter is TJ is rolling over in his grave at what is happening in our political/financial world in the US.
I have read a great biography on Jefferson by Albert Nock & am starting today a biography on Alexander Hamilton the big government scoundrel. Cheers to you Brian.

Comment on Fire Sale Ahead by Booboo

Booboo — Sun, 28 Dec 2008 00:11:43 +0000

He says “durable goods you’re going to NEED for the next few years” not the stuff accumulated by habitual buying that consumers will wish they hadn’t done. The cash will be dear in either case, but durable necessities will be very expensive. Think about it.

Comment on Dollar Continues to Slide by Dollar “Attacked”

Dollar “Attacked” — Wed, 17 Dec 2008 12:54:22 +0000

[...] we discussed earlier, the dollar appears to be in decline again. Whether it will turn into a full-fledged [...]