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Joined: Jun 2002
Posts: 131,601
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,601 |
Today our Costco had 1oz gold bars for $2200 That's a very good deal. The spot actually, momentarily, surpassed that price just yesterday, during trading hours, then dropped down below it, a bit. Then back up again, but not quite rebreaking that resistance point. I suspect that, before the end of the month, we'll be looking at $2,200.00 spot in the rear view mirror.
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Joined: Jun 2002
Posts: 131,601
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,601 |
The US dollar is at a new low on the Gold Standard. A more apt way to say it, yes, i.e., measure the value of the Federal Reserve Note based on how much real money (gold/silver) you can get in exchange for it. That said, the beach ball effect is a real thing, too. In other words, gold can catch up to, then far surpass, the inflation level, based on enthusiasm combined with distrust of the dollar. Just to catch up to the inflation level, it would need to exceed something on the order of $10,000.00 per ounce. In other words, had no efforts to suppress the prices of gold and silver been taken in the last 45 years, that's where it's price would be today and, like a beach ball applying upward pressure on the person holding it under the water, it will strongly seek that correct price level, and then far surpass it, once control is lost.
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Joined: May 2008
Posts: 5,156
Campfire Tracker
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Campfire Tracker
Joined: May 2008
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Got some gold so that is good news.
And quite a bit of junk silver that I'm hoping for the beach ball thing to kick in on. Absolutely, needless to say I have a lot more silver than gold. Would be nice to see silver back at $50 or more. When was silver at $50?
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Joined: Feb 2013
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Campfire Ranger
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Campfire Ranger
Joined: Feb 2013
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If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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Joined: May 2008
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Campfire Tracker
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Campfire Tracker
Joined: May 2008
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Joined: Jun 2002
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Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,601 |
Got some gold so that is good news.
And quite a bit of junk silver that I'm hoping for the beach ball thing to kick in on. Absolutely, needless to say I have a lot more silver than gold. Would be nice to see silver back at $50 or more. When was silver at $50? In 2012, it peaked at $47.00 at the close of the trading day, but during the day it touched $50.00 per ounce.
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Joined: Aug 2023
Posts: 438
Campfire Member
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Campfire Member
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The US dollar is at a new low on the Gold Standard. A more apt way to say it, yes, i.e., measure the value of the Federal Reserve Note based on how much real money (gold/silver) you can get in exchange for it. That said, the beach ball effect is a real thing, too. In other words, gold can catch up to, then far surpass, the inflation level, based on enthusiasm combined with distrust of the dollar. Just to catch up to the inflation level, it would need to exceed something on the order of $10,000.00 per ounce. In other words, had no efforts to suppress the prices of gold and silver been taken in the last 45 years, that's where it's price would be today and, like a beach ball applying upward pressure on the person holding it under the water, it will strongly seek that correct price level, and then far surpass it, once control is lost. Maybe you should invest in beach balls.
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Joined: Jun 2002
Posts: 131,601
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,601 |
Maybe you should invest in beach balls. You have an issue with the use of analogies? I find that they are helpful for making esoteric subjects more understandable.
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Joined: Aug 2023
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Campfire Member
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Campfire Member
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Maybe you should invest in beach balls. You have an issue with the use of analogies? I find that they are helpful for making esoteric subjects more understandable. I have a problem with specious analogies.
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Joined: Jan 2011
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Campfire Regular
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Campfire Regular
Joined: Jan 2011
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Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.! I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold. Gold was 1600 at the time, the gun is very nice, still own it, came with 180 rounds of lake city ammo. Reckon I'll keep it for awhile. Typically can buy gold here from a miner for 85% of spot, no fees. In what form? Placer gold typically runs a average of about 70-90% of pure. I typically figured 78% when buying. If sending in for refining your return will be based on net weight of pure minus cost to refine. You are or were basically paying spot and some Placer gold You are correct, I think this was assayed at 85%. No fees.
For those without thumbs, it's s Garden fookin Island, not Hawaii
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Joined: Jun 2002
Posts: 131,601
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,601 |
Maybe you should invest in beach balls. You have an issue with the use of analogies? I find that they are helpful for making esoteric subjects more understandable. I have a problem with specious analogies. It's a perfect analogy for the phenomenon I was discussing. You, of course, are free to differ, but that means you're asserting that, after being held down artificially for decades, metals will merely rise to their natural price level and no higher. History, however, has not borne your theory out.
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Joined: Dec 2002
Posts: 14,197
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2002
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Eleven grand ![[Linked Image from i.imgur.com]](https://i.imgur.com/S86AUFhl.jpg)
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Joined: Feb 2003
Posts: 10,363
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
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I used to say "Gold, guns, and guitars go up at 3% compounded, which is background inflation."
I need to add gunpowder to the list. Re23 went up 16.7%/year compounded over the last 6 years.
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Jun 2003
Posts: 10,595
Campfire Outfitter
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Campfire Outfitter
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I used to say "Gold, guns, and guitars go up at 3% compounded, which is background inflation."
I need to add gunpowder to the list. Re23 went up 16.7%/year compounded over the last 6 years. Isn't Alliant owned by VSTO? It's up 14.18% in a year, 7.81% YTD. (Still not beating the S&P 500 over the short run, but way ahead of the S&P 500 over 5 years.)
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Joined: Feb 2003
Posts: 10,363
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,363 |
I used to say "Gold, guns, and guitars go up at 3% compounded, which is background inflation."
I need to add gunpowder to the list. Re23 went up 16.7%/year compounded over the last 6 years. Isn't Alliant owned by VSTO? It's up 14.18% in a year, 7.81% YTD. (Still not beating the S&P 500 over the short run, but way ahead of the S&P 500 over 5 years.) If you think with numbers..... Magnificent Seven Stock Performance 5 years Alphabet Inc. (GOOG) 152.29% Amazon Inc. (AMZN) 80.19% Apple Inc. (AAPL) 340.40% Meta Platforms Inc. (META) 137.05% Microsoft Corp. (MSFT) 240.09% NVIDIA Corp. (NVDA) 1094.64% Tesla Inc. (TSLA) 807.56%
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Nov 2002
Posts: 33,694
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,694 |
So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly. In the event of hyperinflation, few other assets would be as valuable. Given what % of one's worth holding now? I'm curious, too. The extent of my holdings and knowledge of precious metals involves only what we discuss the most here. Up.
Conduct is the best proof of character.
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Joined: Nov 2015
Posts: 1,785
Campfire Regular
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Campfire Regular
Joined: Nov 2015
Posts: 1,785 |
USMC 0351
We know the price of everything and the value of nothing.
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Joined: Nov 2015
Posts: 1,785
Campfire Regular
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Campfire Regular
Joined: Nov 2015
Posts: 1,785 |
Naked shorts and rehypothecation.
Going to head fake and then destroy a lot of paper wealth.
Consider your counterparty risk when thinking about where to park your years of hard work.
USMC 0351
We know the price of everything and the value of nothing.
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Joined: Jun 2011
Posts: 1,597
Campfire Regular
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Campfire Regular
Joined: Jun 2011
Posts: 1,597 |
Which stock would be best to own in the event of a currency collapse?
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Joined: May 2008
Posts: 5,156
Campfire Tracker
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Campfire Tracker
Joined: May 2008
Posts: 5,156 |
Which stock would be best to own in the event of a currency collapse? The one that pays the most dollars.
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