Hi there. I am interested in gold & silver investing principally silver. I am a newbie in this area.
Can you all recommend me books to read up on this subject especially for newcomers? I also welcome e-books and video/DVD recommendations.
Thanks & have a great day!
Start off by watching these video clips. There is a lot to learn about. But you need to have the basics of economics and the history of money. Ive provided many links for you. I have othe rlinks for you as well. Email me for the rest as Im limited as to how many I can post in this answer.
http://monex.com/why/silver_market.html
http://monex.com/expert/supply-demand-important.html
http://monex.com/expert/indispensable-metal.html
http://monex.com/expert/china-factor.html
http://monex.com/expert/declining-dollar.html
http://monex.com/expert/silver-bull-market.html
http://monex.com/expert/silver-now.html
Watch these two videos too
http://video.google.com/videoplay?docid=-8484911570371055528
http://video.google.com/videoplay?docid=7757684583209015812&q=+Evils+of+the+Federal+Reserve&ei=Id4MSO7CJp2mrALI99GwBA
Also read the following post and listen to the following radio shows at the end of this post to understand about gold and silver. I myself have been buying gold and silver for some time.
First off you need to understand that gold is not an investment. The best way to own gold is to buy and take physical delivery of the gold itself. Silver is also in the gold realm as well, so when talking about gold, silver is included.
It is always a good idea to own some gold and silver at all price levels. To truly understand gold and silver, and why you should own it you have to understand the economey and get the movie of life on the largest screen possible. I listen to the following radio broadcasts posted at the end of this post. You should too to fuly understand what is happening and the action you should take.
Gold is money and a store of value. It is the "Currency of last resort" as Greenspan has stated many times through the years. Gold doesnt pay interest, dividends, doesnt restate earnings, has no lawyers, accountants, CEOs or CFOs lying to you on television. Gold doesnt ask for bailouts, doesnt go BK and cannot cook its books. Gold cant be debased or printed at the will of a company or governmetnt and holds its purchasing power.
Gold sits there as a store of value, is labor intensive, and a one ounce coin will not split into a bunch of half ounce coins at the direction of the pin striped bandits on Wall Street. Also Gold is the ONLY asset class in the last ten years to increase in value and retain every dollar of its purchasing power.
Gold can be bought in many forms. Coins are the best. I personally like the US coins in both the Gold Eagles and the pre 1933 US $20 gold peices. Gold Eagles are hard to find right now but $20 pre 1933 gold pieces are avalible from PTG at http://www.allamericangold.com . This is the company I use and I like them and their radio show that airs every weekday.
Once you have physical gold and silver then ETFs or stocks are fine but I strongly suggest in holding physical gold for long term value and storage.
Cons to owning gold is it is subject to short term market manipulation by the Federal Reserve and bullion banks. This can cause the short term price to be pushed down as is being done today. This is why the paper price on gold verses the physical price is not he same today. Paper price today is about $830 an ounce but the physical price is ranging between $900 to $1200 depending upon the product being bought.
http://patriotarchives.blogspot.com/