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As panic is spreading among the people of Greece, yet again gold steps up to show why it is so valuable in times of economic uncertainty and instability. The Greeks want gold so bad they are will to pay a big premium for it. You can write this down, similar panics will be coming to a US city or town near you! I hope you have been wise enough to buy gold and silver early as I discussed in my article, “When will you buy Gold, at $250, $500, $1000, $2000, $5000+ per Ounce? ” In a more recent article, “Gold Rush On In China? “(with video) we can clearly see how there is exceptional  gold demand in China. I fear many Americans will be among the last to know or understand what is really going on and how to protect their wealth.Below is an excerpt from the original article:

In the first four months of 2010, the Greek central bank sold more than 50,000 sovereigns at its main downtown Athens office.  Bank officials estimate that at least 100,000 other coins changed hands on the black market.  The Bank of Greece has received as much as $409 per coin, which works out to a price of more than $1,700 per ounce of gold!  Prices paid on the black market are reckoned to be even higher.  A popular spot for street vendors to sell their coins is near the Athens Stock Exchange.  There the traders wait for citizens to bring payments received from unloading their paper assets like stocks and bonds. Src: coinupdate.com.

It is amazing how people will not buy gold when it is cheap but will do whatever it takes to buy it as the price rises. When will you buy gold? Will you buy it now at $1200 dollars or wait till it is much higher?

The excerpt below briefly discusses how the financial situation of the US and cities like California are as bad if not worse than Greece.

The US government and some state governments such as California are in financial straits as bad as or even worse than Greece.  How long will it take before American buyers will have to wait in lines to pay outrageous premiums for what are now bullion-priced gold and silver coins?  More than one analyst thinks those days will come within a few months or sooner…..

As each day passes, the risk is growing that owning any form of “paper gold” could turn out to be as worthless as the paper currencies used to purchase it.  While you still can, you should protect yourself by converting such “assets” into real physical gold. Src: coinupdate.com.

Paper gold or gold promises is not the same as having physical gold. Find a good local coin shop and pay cash for your gold and silver. You can also check out some of the trusted bullion companies I recommend here.

Related Posts:

• US Mint Out Of Silver And Gold American Eagles, Again
• Central Banks: You hold paper…Let us have the Gold….
• Silver to Reach $1,500 per Ounce?
• Parts Of Michigan Now Using Gold & Silver as Money?
• Reasons Why Gold May Reach $15,000 in 5 Years