Questions and Answers
1. It's atrocious that our leaders got us into this mess in the first place with their 'de-regulation' of the stock market. They let the foxes (the 'good ol' boys,' the Very Wealthy businessmen who backed their campaigns) loose in the hen house without any oversight. The wealthy foxes were not accountable to ANYone for their actions. So not surprisingly, the Very wealthy–including Cheney and Paulson–stand to walk away with $millions while the Middle Class and Little People AND the Retiring will suffer.
2. Having said that–as someone who, along with my husband, is approaching retirement age, I have to say YES, THERE HAS TO BE A BAILOUT– Because if there is no bailout, then my husband's and my hard-earned savings that we put into stocks and bonds (and we saved harder than most Americans–we didn't 'buy a home at the top of our income' as real estate agents kept advising us to) will fall dramatically, as will most Americans' IRAs and savings plans. My husband and I may not have enough to live on (esp, if we live as long as my Dad, who is 94 years old now)– and you can be sure that Social Security won't do much to help us out. All those hard-earned dollars we put into SS for decades are inflated now–and even with inflation aside, we aren't likely to get all of those SS dollars back.
If you can hang on to your stocks without cashing them in for 10 years or more? Then you will probably rebound and do okay. But for those of us who planned to draw out some of our stocks within the next 10 years? It's going to hurt us big-time.
Of course a bail-out would ALSO feed into inflation big-time, not good for the next generation. Those paper dollars they kept rolling out without gold backing? Well……they'll come back to haunt us, or our children.
But what's done is done (ie., what the Monster Government has done it has done, greedy though they were to do it). Without the bailout, the repercussions would be disastrous.
So I am FOR the bailout. It will save jobs, it will save peoples' homes, it will help save near-retirees.
3. Americans, LET'S NOT LET THIS HAPPEN AGAIN. INSIST ON REGULATION OF THE MARKET FROM NOW ON. INSIST ON ACCOUNTABILITY, AND OPEN BOOKS.
I tried to have my 401k rolled over to investing only in gold. They said that it could not be done since gold/silver is a commodity. Can anyone tell me the best way to get OUT of the market and get INTO gold? I am convinced our dollar will collapse catastrophically and only those with gold stand a chance at even surviving without being a ward of the state and enslaved. Your help is appreciated.
You want a gold backed IRA. There are a few out there, most of them in Texas.
Be careful though. If you are going to have gold held for you. I would recommend you work with a broker that allows you to store the gold with a 3rd party.
Some will try to sell you a plan and store your gold but I would stay away from them. It becomes too easy for them to get reckless with your assets. Stick to a 3rd party.
Lastly, stay away from Exchange Traded Funds (ETFs) or any other paper note that only claims you own gold. If you don't have possession of it, you don't own it. It can all disappear in a flurry of paperwork.
I am currently picking gold and silver stocks. If there is a large and continued increase in the demand, the value of the stock should rise proportionately.
I want to actually have it in my safe at home – not just in an ira or mutual fund. Is there a standard coin or grade which is easily bought and sold? I don't care about rare coins or that kind of thing, I just want a hedge for my other investments.
You can buy pampe suisse certified ingots. They come in 1 oz, 3.5 oz, and 10 0z sizes. You can purchase them thru www.golddealer.com.
That is a reputable company. You call them, buy the gold, send them a wire-transfer, then they deliver your gold to you at your home or business. They are very easy to do business with, and they will buy the gold back from you, should you ever decide to sell it. This company also sells silver,platinum and palladium. I found that their premium was smaller than some of the other gold dealers online. I liked doing business with them very much, it was very easy. I only wish I could buy more!