the real hawkeye: This means your dollars are worth even less than they were just weeks ago! Thanks for nothing china joe biden - and your whore. Hold into the wind VarmintGuy
the real hawkeye: This means your dollars are worth even less than they were just weeks ago! Thanks for nothing china joe biden - and your whore. Hold into the wind VarmintGuy
That's one factor, but another major factor is that it constitutes an accounting for the abuse of our fiat currency by our government. Watch the video.
No worries. When the banks trade in all their treasury notes for gold Biden will give a great speech, and he will direct the Federal Reserve to print more dollars to bail out the dollar.
No worries. When the banks trade in all their treasury notes for gold Biden will give a great speech, and he will direct the Federal Reserve to print more dollars to bail out the dollar.
And find a way to blame the collapse on anyone but the real culprits!
USMC 0351
We know the price of everything and the value of nothing.
When silver hits about $47 I'm selling 1000 ounces.
Bb
Because you expect a huge sell off at the $50.00 mark, right?
Yes, that's about what happened in 2011. I got burned on a deal then by a local dealer. I went to Idaho falls on a Saturday with 1000 ounces to sell and the shop there was closed. I called the owner and he was at a coin show but really wanted my silver. I told him I was just going to drive to slc and sell it.
He begged me not to and said he'd lock me in at $49 per silver eagle and $47 per generic round. I said we're locked then right? That's what's it's going to be monday no matter what the price does. He said yes.
Sunday night when the Asian markets opened spot dropped $11 in the first 5 minutes. George soros dumped billions as soon as the market opened. So Monday I head into the shop to do my deal I was locked in at the shop owner wouldn't do it. I really regretted not going to slc saturday. The price never came back.
For those who don't do much in metals when someone tells you your locked in then that's the price period. The guy in IF who owns that shop is pretty hated by many stickers in the area. I saw him at a coin show recently and several of the other dealers said not to deal with him because he's a crook. I told them all I'd already found that out.
In the dozen or so years since then I've probably bought sold and traded over $200k in metals and none of the deals were with him. Luckily some guys from Montana opened a new shop in Idaho Falls and they've been great to deal with. They just told me on the phone tonight they have several hundred more mercury dimes for me. They know I like mercury dimes and 1/10th ounce gold eagles so they often hold them for me.
I'll sell some at $47 and then hold the cash for a bit to see what the price does. If it breaks through $50 I'll buy back in. If not I'll go buy a lot or some land to build a rental home on.
I often wish I still had the 6000 ounces of silver I used to have. I did Dave Ramsey plan about a decade ago and sold a bunch of what I had and paid off debt. It's been nice not having a mortgage but I wish I would have kept the silver and just kept paying off debt with cash. Ramsey thinks metals are a terrible investment and most of the time they are. I think the days coming soon when everyone will wish they had some.
I worry that when the dollar crashes the government will sieze my safe deposit box at the bank and take my bullion. They made everyone turn in their gold once I guess they could do it again.
I should have buried it somewhere but it would have forgot where I buried. I had an uncle that buried a stash and then died suddenly and his family doesn't know where he buried it. I had 2 home robberies in the past so I figured a safe deposit box is the best bet. If I can keep the government from taking it. There's way more $ in my IRA they'll probably seize first anyways.
Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands!
Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands!
New 2022 Porsche 718 Boxster GTS in coming. 2017 Boxster S sold today. It ain't hard...
Ya'll get rich on gold... What percent is your net worth is in gold?
I'm close to 10% in bullion. Probably a little less just depending on what I figure my rental property and home is worth.i was trying to get more before the prices went up. My goal was always to get to 10% of assets in bullion.
If I was smart I would have kept more money in stocks but took most of it out when Biden stole the office. I realize now that the dow tracks federal spending more than about anything. If I'd have realized that then I'd have stayed heavy in stocks. I keep getting tempted to get back in but I'm waiting for some kind of correction first. I almost went back in in October when the dow dropped to 32 k. Woulda coulda should.
I'm just struggling to be brave when the fundamentals are so bad. I just need to remember that main street and wall street are totally different. Those that don't do gold what is you're backup parachute?
Don't be a party pooper Ed. Just cash out and get into gold. When the fiat scam comes crashing down you can ball out and buy Big Macs and TVs with Krugerrands!
New 2022 Porsche 718 Boxster GTS in coming. 2017 Boxster S sold today. It ain't hard...
Pard you rolling deep in social security cash. Dang a Porsche boxster? Us non earning social security check guys are driving a 78 ford ltd.
Originally Posted by Bricktop
Then STFU. The rest of your statement is superflous bullshit with no real bearing on this discussion other than to massage your own ego.
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money.
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money.
Last 5 years gold and silver is up roughly 83%, that's a 16.5% yearly average, and the dollar hasn't collapsed. . . . . . . . . . . . . . . . . . . . . . . . . . .Yet
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
Setting aside that no one is talking about an EOTWAWKI scenario, were that to happen, what makes you think that those with a little gold and/or silver don't also have food/water/guns, etc.. Also, history speaks against your fictional scenario where gold and silver are nearly worthless when a civilization, and its fiat monetary system, collapses. Quite the opposite has always been the case. For example, at the height of the Weimar hyper inflation, anyone with a handful of gold coins could purchase entire city blocks in Germany, so strong was the hunger there for real money.
Last 5 years gold and silver is up roughly 83%, that's a 16.5% yearly average, and the dollar hasn't collapsed. . . . . . . . . . . . . . . . . . . . . . . . . . .Yet
Gold and silver are not up, the dollar is just down and it takes more dollars to buy an ounce.
"Life is tough, even tougher if your stupid" John Wayne
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Absolutely. Its called momentum trading/investing/betting whatever you prefer, and its been around forever. Buy high and sell higher is almost as well known as "buy low sell high". The late William O' Neill of Investor's Business Daily made it famous.
Like any other approach to speculative markets, it works sometimes.
Last edited by RJY66; 04/11/24.
"Men must be governed by God or they will be ruled by tyrants". --- William Penn
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
I always laugh when I read stuff like this.
First off, I have my own beans, thank you very much.
Gold has been money for millenia. Even J.P. Morgan said "only Gold is money, everything else is credit". The dollar is not money. It is currency...it is a debt note issued by a bank. If you bother to look at history, you will see Gold is a highly liquid asset.
What do you think the central bankers around the world are hoarding? Yeah, Gold. They are dumping dollars and buying Gold.
While the West burns, the East and South are buying Gold.
All Fiat currencies die. The dollar has already lost 99% of its purchasing power vs Gold, just since I became a teenager.
So you go ahead and put all your faith in the dollar. Be my guest. I only keep 25% of my net worth in dollars because the trend is not our friend.
USMC 0351
We know the price of everything and the value of nothing.
Ramsey is an idiot on the topic of gold and silver.
I used to listen to Ramsey. He is big on being debt free which is a wonderful idea. I don't quite get the complete dismissal of precious metal. Another thing I couldn't quite understand was his objection to buying ETFs instead of mutual funds and his insistence on hiring a financial advisor (from his approved list of course).
There are some good ETFs that track the Russell, or the S&P for the unadventurous. My wife and I both have some of that. I have about 12% in gold and silver mining ETFs because I don't trust the physical metal funds. I bought 200 shares of EIS an Israel ETF that crashed back in October thinking that Israel stocks would rebound, and they did. I bought GUSH a 2X leveraged oil fund in March of 2020 for around $4 and now it's $43.51 today. But I've managed to buy some dogs that lost money also.
All in all I bet we've done as well as a financial adviser would have done because we take chances that an adviser never would, and we aren't wealthy enough for an adviser to worry himself about too much.
Patriotism (and religion) is the last refuge of a scoundrel.
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
I always laugh when I read stuff like this.
First off, I have my own beans, thank you very much.
Gold has been money for millenia. Even J.P. Morgan said "only Gold is money, everything else is credit". The dollar is not money. It is currency...it is a debt note issued by a bank. If you bother to look at history, you will see Gold is a highly liquid asset.
What do you think the central bankers around the world are hoarding? Yeah, Gold. They are dumping dollars and buying Gold.
While the West burns, the East and South are buying Gold.
All Fiat currencies die. The dollar has already lost 99% of its purchasing power vs Gold, just since I became a teenager.
So you go ahead and put all your faith in the dollar. Be my guest. I only keep 25% of my net worth in dollars because the trend is not our friend.
Never owned gold or silver. Never will. "It's the most expensive it's ever been! Buy!" Does that make sense to ANYbody?
Tell you what. If the system ever crashes, you can buy a can of beans from me with 10 pounds of your metal. Or you can eat the gold, take your pick.
If the system crashes, how many pounds of federal reserve notes would you accept for a can of beans?
I told my wife to pick up 3 cases of light red kidney beans today. Good to be diversified. Have hundreds of pounds of salt in the shed. Salt doesn’t spoil and could come in handy for preserving food and for trade. Would have gotten her to pick up more beans but I don’t want to tax her patience.
Patriotism (and religion) is the last refuge of a scoundrel.
I love it when people say you can’t eat gold. Can’t eat fiat, either. Seems like Costco has stepped up their gold game. If they’re moving this kind of volume, the engine will be in place to accept it….
I love it when people say you can’t eat gold. Can’t eat fiat, either. Seems like Costco has stepped up their gold game. If they’re moving this kind of volume, the engine will be in place to accept it….
I didn't realize costco was selling it in store. I have an executive membership and a Costco credit card so that would have been a good place for me to buy from. I get 2% back on the membership and 2% back on the card. Most bullion dealers charge you 4 % extra if you use a card.
I'm not currently buying much because the price is up so much but if it comes down I'll be looking at Costco.
COMEX is saying gold is now $2,402.70 in overnight trading, i.e., it broke through $2,400.00.
Exceeded this since posted, and holding just prior to start of official morning trading, so it will be interesting to see what happens to it in a few minutes at 9:00 AM.
Can you invest in eggs?! Man… they’re sure going up!
Not much of a long term investment. When my son was about 5 years old he hid his Easter egg basket in his room with the eggs under the fake grass. About July we were considering burning down the house because we couldn't find the source of the smell.
Patriotism (and religion) is the last refuge of a scoundrel.
Can you invest in eggs?! Man… they’re sure going up!
Not much of a long term investment. When my son was about 5 years old he hid his Easter egg basket in his room with the eggs under the fake grass. About July we were considering burning down the house because we couldn't find the source of the smell.
Yup. One of the functions of money is durability.
Another key function of money is preservation of purchasing power. Which is why the dollar is NOT money...it is currency.
USMC 0351
We know the price of everything and the value of nothing.
