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GOLD

Low interest and cheap money is what got us here. I think the other driver is that the fed is definately printing money to keep this ship afloat leading up to an election. The amount of spending that the .gov is committing to seems to me to be the driver of gold.

What's wild to me is Silver isn't quite climbing like I thought it would.

I wish I bought more gold when it was still sub $2K.

Branden
 
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So when the bottom falls out and the house of cards comes down, will gold be worth more or less? For sure ammo will be worth more; the ammo I bought 10-12 years ago is worth three times what I paid for it. It’s been a better investment than gold……just like Army Jerry said.
 
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KYAggie said:
So when the bottom falls out and the house of cards comes down, will gold be worth more or less? For sure ammo will be worth more; the ammo I bought 10-12 years ago is worth three times what I paid for it. It’s been a better investment than gold……just like Army Jerry said.
Click to expand...

Gold won't be worth any more in terms of "real good" and might actually be worth LESS in terms of "the stuff you need to stay alive"

But if you compare it to the currency in runaway hyperinflation, then yes it is going way up.

Gold is not all that good in an actual crisis or emergency.
Gold is a nice way to take some wealth at a time of stability that looks to end, be able to hold it and then put it back into wealth after the bad times when the stability returns.
 
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KYAggie said:
So when the bottom falls out and the house of cards comes down, will gold be worth more or less? For sure ammo will be worth more; the ammo I bought 10-12 years ago is worth three times what I paid for it. It’s been a better investment than gold……just like Army Jerry said.
Click to expand...
I can't name one item I bought 10-12 years ago that has gone down in value compared to the USD.
The "value" of an ounce of gold will buy now (approximately) the same thing it bought 100 years go.
Watch how gold is doing in India. They have been in this game a long time. Not seeing them "selling".

When was gold first used in India?
Kushan emperor Vima Kadphises introduced standardised gold coins in 100 AD. The rulers of the Gupta empire (250AD), often called the Golden Age, are credited with lending a unique Indian touch to the coinage system by launching innovative styles and designs on the coins.
 
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Explain the gold commercials. They spend half the time telling me how worth the dollar is and will be worth less in the future. Gold is the only safe symbol for wealth to have.

The other half of the commercial is them wanting to trade me gold for worthless risky dollars. Why do they want less gold and more dollars?
 
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TimC in KY said:
Explain the gold commercials. They spend half the time telling me how worth the dollar is and will be worth less in the future. Gold is the only safe symbol for wealth to have.

The other half of the commercial is them wanting to trade me gold for worthless risky dollars. Why do they want less gold and more dollars?
Click to expand...
It is all about the "Spread" or the "Premium". The dealers buy a truck load and get a discount. They parcel it out and mark up the spread and sell it individually. On the day trading, notice the "Buy / Sell" spread.

The bread manufacturer stocks the grocery store for $1.00 a loaf. The store sells it for $1.50 loaf. For now the grocery takes a worthless dollar and sends it to the bread manufacturer. At the rate things are going it will take a wheel Barrow of USD's to buy a loaf of bread.


Ask / Bid

1712003397720.png
 
Silver is more useful in many ways because it's got intrinsic value... but can easily be 'spent' in small enough amounts to deal with a barter/non-cash economy.

An ounce of gold is like having a 2,000 bill. A silver bar is like having a couple of 20's (I haven't looked at price lately). Silver coins are just as useful.

Just some advice for folks who want to add some 'metals' to their portfolio.

Cheers,

Sirhr
 
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sirhrmechanic said:
Silver is more useful in many ways because it's got intrinsic value... but can easily be 'spent' in small enough amounts to deal with a barter/non-cash economy.

An ounce of gold is like having a 2,000 bill. A silver bar is like having a couple of 20's (I haven't looked at price lately). Silver coins are just as useful.

Just some advice for folks who want to add some 'metals' to their portfolio.

Cheers,

Sirhr
Click to expand...
True
It's wise to have small denomination's in your stash of anything. Today a 1/10th ounce Gold Eagle is about $317. Some junk silver dimes will come in handy. Even if you have cash, a bunch of $1's and $5's will be a good thing to have.
 
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Jscb1b said:
Copper and lead.
Click to expand...

A couple of years ago a garage was being cleaned out near me. Had shut down over a decade ago. I got a half-ton of lead wheel-weights out of that place. Now nicely stacked in ingots.

If my math is right, that's about 45,000 158 grain semi-wad cutters. Or 56,000 125gr RN...

And quite a lot of canister shot!

ArmyJerry would be proud!

Cheers,

Sirhr
 
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I still remember the Jimmy Carter inflation/economy. Wow, 20+% inflation and Gold Prices of over $750.00. About a year later, gold prices were somewhere around $250.00. Stayed that way for a couple of decades.

During those weeks of $$750 Gold. one could not turn on the tv without hearing how we needed to “invest” in Gold. Great investment(?).

If you can’t eat it, burn it, drink it or shoot with it to get things to eat with it, it does not have the worth of last weeks manure. At least the manure can be used for fertilizer to help grow food.
 
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Dead Eye Dick said:
I still remember the Jimmy Carter inflation/economy. Wow, 20+% inflation and Gold Prices of over $750.00. About a year later, gold prices were somewhere around $250.00. Stayed that way for a couple of decades.

During those weeks of $$750 Gold. one could not turn on the tv without hearing how we needed to “invest” in Gold. Great investment(?).

If you can’t eat it, burn it, drink it or shoot with it to get things to eat with it, it does not have the worth of last weeks manure. At least the manure can be used for fertilizer to help grow food.
Click to expand...
Hunt Brother's did the same thing with silver... Just depends where you want to play your money when you walk into the Casino.
Same can be said of Crypto.
It may all come down to potable water.
 
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If my family put $10K in cash in a mattress in 1979, the year I was born, and then I found it today, it's still $10K, but in 1979 I could buy 2 new Toyota Carolla's and have money left over for taxes and plates and some nice dinners. I can barely get a decent used car for $10K today. If $10K of gold 1ounce coins at average 1979 prices (~$450/ounce) were stuck in a mattress, there'd be 22 coins and some fractionals, which would be worth $50K today, which will still get you 2 Toyota Carolla's with money leftover for taxes and plates.

I'm not arguing that gold/silver are investments that will make you wealthy over time, that's far from the case. However, diversifying your portfolio to have some money outside of the financial system is not a bad idea. Gold is not going to plummet unless somehow the gold supply is suddenly massively increased...like a gold meteor the size of rhode island gently sets down in north dakota for us to mine. Gold is only going to go up as the Fed just starts printing dollars like new rolls of toilet paper, and if the world decides to change to a single form of currency for the whole world, gold will be valued in the new currency, and you'll still be able to convert gold for it's value in any currency.

Branden
 
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The Silver and Gold prices are definitely being manipulated. Silver the most. For every ounce of Gold that comes out of the ground you get 7 ounces of silver. The price of silver should be 7 to 1 of Gold.
 
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sirhrmechanic said:
Silver is more useful in many ways because it's got intrinsic value... but can easily be 'spent' in small enough amounts to deal with a barter/non-cash economy.

An ounce of gold is like having a 2,000 bill. A silver bar is like having a couple of 20's (I haven't looked at price lately). Silver coins are just as useful.

Just some advice for folks who want to add some 'metals' to their portfolio.

Cheers,

Sirhr
Click to expand...
Problem is, unless you are over 55 you don't know what a sliver coin is or what it "may" be worth. Hand a 30 YO 2 quarters, 1968 and 2000, then ask them what they are worth.
 
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Jefe's Dope said:
At this point it's clear that silver's price is being manipulated to keep it far below its true value.
Click to expand...
Yep.

Been hearing a lot of analyst calling for a $35/ounce price for the end of 2024 though. There are a lot of people taking physical delivery of their paper silver.

it has to be manipulated to keep the price suppressed.....especially as gold keeps hitting new all time high's. at a 90:1 ratio, silver is an excellent buy right now. Historically it should be a lot close to 50:1, which would set silver at around $45.50/ounce.

Branden
 
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Ison said:
The Silver and Gold prices are definitely being manipulated. Silver the most. For every ounce of Gold that comes out of the ground you get 7 ounces of silver. The price of silver should be 7 to 1 of Gold.
Click to expand...
That is due to the trading of "Paper Gold" or "Paper Silver"... Basically a piece of paper or a share that is backed up by physical metals...
Common knowledge that if every piece of paper was turned in for physical metals........ There would not be enough physical to cover all the paper.
Thus.... Best to hold physical in your hand.
 
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Hobo Hilton said:
I can't name one item I bought 10-12 years ago that has gone down in value compared to the USD.
The "value" of an ounce of gold will buy now (approximately) the same thing it bought 100 years go.
Watch how gold is doing in India. They have been in this game a long time. Not seeing them "selling".

When was gold first used in India?
Kushan emperor Vima Kadphises introduced standardised gold coins in 100 AD. The rulers of the Gupta empire (250AD), often called the Golden Age, are credited with lending a unique Indian touch to the coinage system by launching innovative styles and designs on the coins.
Click to expand...
You forgot your copy of Richard Simmons "Sweatin to the Oldies" that you bought. Pretty sure it has lost value.
 
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sirhrmechanic said:
Silver is more useful in many ways because it's got intrinsic value... but can easily be 'spent' in small enough amounts to deal with a barter/non-cash economy.

An ounce of gold is like having a 2,000 bill. A silver bar is like having a couple of 20's (I haven't looked at price lately). Silver coins are just as useful.

Just some advice for folks who want to add some 'metals' to their portfolio.

Cheers,

Sirhr
Click to expand...
Wise advice, my only issue is the premium you pay for that fractional gold………
 
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Short-bus said:
If $10K of gold 1ounce coins at average 1979 prices (~$450/ounce) were stuck in a mattress, there'd be 22 coins and some fractionals, which would be worth $50K today, which will still get you 2 Toyota Carolla's with money leftover for taxes and plates.
Click to expand...


Agree that Gold and Silver might have their place, but everyone seems to overlook the 28% federal income tax on any profit you have with gold coins **AND** any percent of commission you pay the dealer to convert back to cash. So don't forget that part of the math. Sure you can find ways around it (direct barter), but most people investing in gold and later need the cash pay tax and commission.

It may make or break Gold in your specific case.

The $10,000 in my mattress is invested in my immediate ability to buy something I understand I lose any potential earnings that money could make, cash on hand has value to me. I have experienced times when credit cards were not working and ATMs were out of cash/broken.
 
Platinum, like silver, hasn't increased in the same proportion as gold, either. Platinum is more rare in the earth's crust than gold. Definitely a lot of paper manipulation going on.

Before all the paper manipulation of precious metals, the silver to gold ratio hung around 16:1 for most of recorded history. Either gold must come down to meet up with silver at this ratio, or silver has to go up.

If silver rose up to match the historical 16:1 ratio to gold right now, that puts it at $130-$140 per ounce. Going the other way of gold coming back down to meet up with silver, gold would drop to $400 per ounce.
 
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kenny1773 said:
Agree that Gold and Silver might have their place, but everyone seems to overlook the 28% federal income tax on any profit you have with gold coins **AND** any percent of commission you pay the dealer to convert back to cash. So don't forget that part of the math. Sure you can find ways around it (direct barter), but most people investing in gold and later need the cash pay tax and commission.

It may make or break Gold in your specific case.

The $10,000 in my mattress is invested in my immediate ability to buy something I understand I lose any potential earnings that money could make, cash on hand has value to me. I have experienced times when credit cards were not working and ATMs were out of cash/broken.
Click to expand...
Selling physical gold is taxed at the capital gains rate of 15%, and that's only if the asset was held more than a year. IIRC there are several states that exempt gold from taxes. There are plenty of places around me that I can get cash for my gold, no commission, no paperwork, and spot price no less. I wouldn't be able to do that if I went in to sell a tube of 20 gold eagles, or a kilo bar, but one here and there, no problem.

Branden
 
kenny1773 said:
Agree that Gold and Silver might have their place, but everyone seems to overlook the 28% federal income tax on any profit you have with gold coins **AND** any percent of commission you pay the dealer to convert back to cash. So don't forget that part of the math. Sure you can find ways around it (direct barter), but most people investing in gold and later need the cash pay tax and commission.

It may make or break Gold in your specific case.

The $10,000 in my mattress is invested in my immediate ability to buy something I understand I lose any potential earnings that money could make, cash on hand has value to me. I have experienced times when credit cards were not working and ATMs were out of cash/broken.
Click to expand...

If I’m at a point where I’m selling any gold, the least of my worries is taxes. And I have used gold coins in the past as barter on high(er) cost expenses…land, jewelry, etc.

Re: cash on hand, agree completely. We keep about a week’s worth of expenses as cash on hand at all times. We pay folks with cash (especially tips for waiters, etc.) whenever possible. And it’s always a good idea to have cash in the event of power failures, etc.
 
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The worldwide "market" establishes the value of gold / silver. A rancher establishes how much gold / silver he will ask for a cow. A farmer establishes how much gold / silver he asks for a bushel of corn.
Historically the Government can not establish the value of an ounce of gold / silver. Yes, I know the US Government has in the past.
Today our Government establishes the value of your home and property.
Every Government that has seized the power to tell a citizen what an item is worth and establish a tax on that item has failed.
America is at that tipping point.
 
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Biggest issue with gold/silver etc is they don’t generate revenue

IF you sell it and the IF the metals market beats a fund/stock you might have made a few bucks more

But the whole time your sitting on it your not generating revenue

Depending on your financial strategy you need to factor in the opportunity cost of having money just sit like in a CD.

And truthfully if the economy goes to shit some shiny metal won’t be worth anything anyway. Because there is no worth if there is no market for the product
 
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brianf said:
Biggest issue with gold/silver etc is they don’t generate revenue

IF you sell it and the IF the metals market beats a fund/stock you might have made a few bucks more

But the whole time your sitting on it your not generating revenue

Depending on your financial strategy you need to factor in the opportunity cost of having money just sit like in a CD.

And truthfully if the economy goes to shit some shiny metal won’t be worth anything anyway. Because there is no worth if there is no market for the product
Click to expand...
All very true

For me, precious metals are a hedge…not an investment. Think of it as insurance.
 
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sirhrmechanic said:
Silver is more useful in many ways because it's got intrinsic value... but can easily be 'spent' in small enough amounts to deal with a barter/non-cash economy.

An ounce of gold is like having a 2,000 bill. A silver bar is like having a couple of 20's (I haven't looked at price lately). Silver coins are just as useful.

Just some advice for folks who want to add some 'metals' to their portfolio.

Cheers,

Sirhr
Click to expand...
Unfortunately Silver usually has a higher premium, I've had a hard time finding it for less than 5% over spot. Costco has started selling both. I regret not buying a few days ago. They sold out quickly, and their prices were just above or at spot.
 
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W54/XM-388 said:
Gold won't be worth any more in terms of "real good" and might actually be worth LESS in terms of "the stuff you need to stay alive"

But if you compare it to the currency in runaway hyperinflation, then yes it is going way up.

Gold is not all that good in an actual crisis or emergency.
Gold is a nice way to take some wealth at a time of stability that looks to end, be able to hold it and then put it back into wealth after the bad times when the stability returns.
Click to expand...
Couldn't agree with you. I've personally known people that used gold to get the hell out of Dodge (Vietnam) and cross borders. You might also want to look at its' use in Argentina during hyperinflation. Books have been written about it.
You might also want to look at what is going on with the BRICS countries and how much gold that their central banks are purchasing. Once the petro-dollar has been kicked to the curb, you'll see a flood of $$ coming back to our shores(hyperinflation). BRICS currency will be back by gold. Had it not been for that asshole Nixon taking us off the gold standard we wouldn't be in this fiat money fiasco that we are in. Nixon was one evil bastard and now the chickens are coming home.

I was wondering how long it would take before this topic would hit the hide. Sit back and watch the country go further down the drain.
 
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91Eunozs said:
All very true

For me, precious metals are a hedge…not an investment. Think of it as insurance.
Click to expand...
Yep... Potable water, producing garden, homestead, like minded community and "Faith" will get a man to the other side. Only then will gold / silver show their true "value". Physical, buried in the back yard, could be just the boost one of our grand children will need. A concept as old as time itself.
 
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Sgtsideways said:
Had it not been for that asshole Nixon taking us off the gold standard we wouldn't be in this fiat money fiasco that we are in. Nixon was one evil bastard and now the chickens are coming home.
Click to expand...

Actually that was a good thing.
Back before then, it was essentially illegal for US citizens to own gold bullion.
You really only got your "right" to own gold back after Nixon did that.
Technically Ford is the one who signed it, but it was only because Nixon had taken us off the Gold standard.
Imagine back in 1970 the Uniform Hangers would come and arrest you at gunpoint for having Gold coins...


Folks forget that the government went and at gun point stole everyone's gold and raided their safety deposit boxes and took it all from the folks.
And well the Uniform Hangers were VERY happy to help
And the "good folks" were all just "well we have to obey the law"
Oh and then for fun right after they stole it all, the government promptly devalued the USA dollar by 50% Sorry folks "do your duty for the country".

Be very careful of wanting "a gold standard" again...
The government just might decide to do a repeat.
And the Uniform Hangers will Rejoice to help
And the good folks will say "just obey the law"

Now if you know the history of how the Global Elites control the world, you'd also understand the danger of having a Gold or Silver based currency if you allow banks (and especially central banks) to charge interest...
The government WILL end up bankrupt and the Bankers WILL end up with all the gold.
That's what helped cause the fall of Rome
That's how the Global Elite used to crash any government / bank that would not do as they say.
 
W54/XM-388 said:
Actually that was a good thing.
Back before then, it was essentially illegal for US citizens to own gold bullion.
You really only got your "right" to own gold back after Nixon did that.
Technically Ford is the one who signed it, but it was only because Nixon had taken us off the Gold standard.
Imagine back in 1970 the Uniform Hangers would come and arrest you at gunpoint for having Gold coins...


Folks forget that the government went and at gun point stole everyone's gold and raided their safety deposit boxes and took it all from the folks.
And well the Uniform Hangers were VERY happy to help
And the "good folks" were all just "well we have to obey the law"
Oh and then for fun right after they stole it all, the government promptly devalued the USA dollar by 50% Sorry folks "do your duty for the country".

Be very careful of wanting "a gold standard" again...
The government just might decide to do a repeat.
And the Uniform Hangers will Rejoice to help
And the good folks will say "just obey the law"

Now if you know the history of how the Global Elites control the world, you'd also understand the danger of having a Gold or Silver based currency if you allow banks (and especially central banks) to charge interest...
The government WILL end up bankrupt and the Bankers WILL end up with all the gold.
That's what helped cause the fall of Rome
That's how the Global Elite used to crash any government / bank that would not do as they say.
Click to expand...
Where to start for so many things you have wrong. True that if you were dumb enough to have that in safety deposit boxes in the 30's, yeah fdr stole it from you. But not too many were dumb enough to do that:
https://goldbroker.com/news/confiscation-gold-1933-behind-scenes-dispossession-2839.
A giant FUCK YOU fdr. Amazing how much smarter they were back then.

You also selectively ignore what I said about the "Nam" and the following confirmation by another Hide guy. True life, yet you ignore it. Guards are greedy and they are easily bribed. Argentina in 2001 is a great example of this. You ignore this also. Barter only goes so far and it falls apart rapidly as has been shown by countries with hyperinflation.

One thing you did get right, is that the central banks in many parts of the world are gathering up gold. Why do you think they are doing that?

I think the thing that you will have more to worry about, is the CBDC. China is now using a CBDC backed by gold. CBDC is the ultimate way to shut you down and remove a huge portion of your freedom. That is one goal of the elites. It provides complete control for many of life's everyday activities.

One of the many things that led to the downfall of Rome was the debasing of their currency. Think adding lead to the silver coin of the realm. Here, we debase the fiat currency by diluting it thru inflation and the full faith in the fed. Once the petro-dollar goes the way of the Dodo, bar the doors as hyperinflation is heading your way. Hand writing is on the wall for those that want to see.
 
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Jip4012 said:
www.justice.gov

Former J.P. Morgan Traders Convicted of Fraud, Attempted Price Manipulation, and Spoofing in a Multi-Year Market Manipulation Scheme

A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight...
www.justice.gov www.justice.gov
Click to expand...
The billion dollar fines the SEC will level will be paid to the US Government. Not one dime will go to the victims. Government will define this as a victimless crime. Connect the dots.
Proverbs 11:2 - 18

​

 
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Jip4012 said:
www.justice.gov

Former J.P. Morgan Traders Convicted of Fraud, Attempted Price Manipulation, and Spoofing in a Multi-Year Market Manipulation Scheme

A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight...
www.justice.gov www.justice.gov
Click to expand...
This isn't the only scheme that the "too big to fail" crowd has gotten away with. Fines are pocket change for these pricks. Seems I also remember Blackrock being involved in an etf that was supposed to have physical precious metals in storage vaults. Turns out that it wasn't true, but they just walked away with fines. Looks like that is an industry wide practice buried in the fine print of the prospectus..................Kinda like fractional banking?

There is absolutely no doubt that the precious metal/commodity markets are manipulated by the big guys, as sighted above. Paper gold is worth the paper it is written on and some of the etfs have proven this. Not to say that you can't make a buck off of etf's, you can. You go into it knowing that you are throwing the dice as in most stock and bond vehicles. I just wish I had grandparents that flipped the bird to fdr and kept gold under their mattress. Today, a lot of trust kids are benefitting from the long range planning of grandparents and parents. Unfortunately, those days are coming to a rapid end. I'll take a gold backed currency any day over the full faith and trust in Jerome Powell.
 
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Jip4012 said:
www.justice.gov

Former J.P. Morgan Traders Convicted of Fraud, Attempted Price Manipulation, and Spoofing in a Multi-Year Market Manipulation Scheme

A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight...
www.justice.gov www.justice.gov
Click to expand...
I wonder what kind of hats those two guys wear?
 
IMG_3694.png


New high almost every day, or at least every week lately. I’m “making money” off this run, but frankly this scares the shit out of me.

My 401K and other investments, especially what I call my “Zombie” fund…shares of physical gold holdings (“paper gold”), silver, and other commodities, plus some mining, and other stocks directly related to precious metals.

That’s been “green” for a very long time now.

This also has me quietly shitting bricks.
 
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91Eunozs said:
View attachment 8387407

New high almost every day, or at least every week lately. I’m “making money” off this run, but frankly this scares the shit out of me.

My 401K and other investments, especially what I call my “Zombie” fund…shares of physical gold holdings (“paper gold”), silver, and other commodities, plus some mining, and other stocks directly related to precious metals.

That’s been “green” for a very long time now.

This also has me quietly shitting bricks.
Click to expand...
Same here. Last year I told BFC I wanted to get a front end loader attachment for my JD tractor. Used prices went out of sight. Now a used front end loader attachment cost more than my JD 2240 did a few years back. I am patchin' up stuff with the plan to just get by this summer. Turned dirt for my garden yesterday.
 
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Gold is money. It has been valued since as far back as you want to go. Throughout all the wars, famines, disasters, empires rising and falling, change of leadership, etc gold has had value.

It’s always a good idea to have physical gold. It’s a good idea to always have some physical gold and cash on your person at all times out and about. You can carry gold coins, or wear 24k jewelry.
 
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