I was in high school I think…was that when the hunt brothers pulled their shenanigans…I still remember long ago when Silver was almost at $50 an ounce before crashing hugely.
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View thread Contact supportI was in high school I think…was that when the hunt brothers pulled their shenanigans…I still remember long ago when Silver was almost at $50 an ounce before crashing hugely.
I was in high school I think…was that when the hunt brothers pulled their shenanigans…
April of 2011... Silver hit $49.22/oz. Fun fact... Silver is now north of $1/gram!I still remember long ago when Silver was almost at $50 an ounce before crashing hugely.
Funny you mention that date. I started purchasing a few rounds on 3/3/2011.April of 2011... Silver hit $49.22/oz. Fun fact... Silver is now north of $1/gram!
What ever you do, don't listen to the "so called" experts. Go with your gut instinct.I have my eye on some land, a little higher and it might be time to unload some shiny.
Over the past two years or so I’ve converted 10% of my 401K to PSLV and almost 50% to PHYS. Didn’t do it to make money, just as a hedge, but man has it taken off the past few months!My silver is up nicely.
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Watched it all day today. A $2-ish/oz. run was crazy to see! Pretty sure the resistance and secular have been broken through (I think we've seen a triple breakout) and I'm curious to see what the new support price is come monday AND what happens when the asian markets open. Saw where China sold $53.3B in treasury and agency bonds. My inner voice says that they are bailing on the USD (anyone suprised?) and buying gold and silver at an insane rate! I think Europe is following suit.Over the past two years or so I’ve converted 10% of my 401K to PSLV and almost 50% to PHYS. Didn’t do it to make money, just as a hedge, but man has it taken off the past few months!
I look at it from some different perspectives. That run up is how much purchasing power of the USD lost today. Takes more USD's to buy that 1 oz. Gold Eagle.Watched it all day today. A $2-ish/oz. run was crazy to see! Pretty sure the resistance and secular have been broken through (I think we've seen a triple breakout) and I'm curious to see what the new support price is come monday AND what happens when the asian markets open. Saw where China sold $53.3B in treasury and agency bonds. My inner voice says that they are bailing on the USD (anyone suprised?) and buying gold and silver at an insane rate! I think Europe is following suit.
Saw where China sold $53.3B in treasury and agency bonds. My inner voice says that they are bailing on the USD (anyone suprised?) and buying gold and silver at an insane rate!
I agree with your sentiment but that does make not my point moot...I look at it from some different perspectives. That run up is how much purchasing power of the USD lost today. Takes more USD's to buy that 1 oz. Gold Eagle.
The other perspective is people saying "I'll buy some more gold when the price drops down to $2k / ounce". The only way gold is going to drop in value is for the USD to increase in value. Looking at the world markets, there is very little happening to increase the buying power of the USD.
The petrodollar is history. Worldwide countries are buying and selling oil without converting the funds to USD's.
The National Debt is weighing heavily on "What backs the USD?"
There are many more questions than answers.
Neat! That means that with an 80:1 ratio silver should hit about $340.00/oz! It won't matter... If it hits $45.00/oz I can pay off everything I owe, get a new vehicle, and still have a LOT left over for the bad times. Glad I diversified into rounds, bars, and most importantly (IMHO) junk silver aka constituional silver. Gonna call that a euphamism for fractional silver. When things get bad it will be easier to deal in 90% silver dimes, quaters, 50 cent pieces, and dollars than 1oz rounds and bars or at least give change? Junk silver is running about 20 times face value at the current rate not that a dollar amount will matter when it goes down!
$27,000 Gold | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Don't apologize for, what you term, ignorance.I have to say, when it comes to finance, investing, de-dollarization etc, no one is more ignorant than me. I threw out that Zero Hedge article to see what other more knowledgeable folks might have to say. Seems rather hyperbolic to me. I read another article, also at Zero Hedge, predicting $8000 gold in the next few years.
When it comes to the Yuan Im not going to get excited they are in a financial meltdown they manipulate the value of their currency constantly to present the desired posture they wish to be seen by on the world stage. While we are keeping a watchful eye on CRE here China has had significant failures in this area, no big deal for them take the company leadership that they installed and financed are then packagedup, all the debt and shortfall on them, dirt nap them or reeducation camp never to be seen again. They are stock piling bullion but at what cost to the erosion around the rest of their country? I do not believe the financial picture they present to be at all truthful, with officials like Yellen traveling to China and taking into consideration the unrest around the world (COVID +Vax) etc. sometimes believe the NWO is actually working in concert to destroy educated thinking people. Look at europe and the US, sophisticated societies being destroyed by uneducated peoples with zero value systems except for self preservation.China and a lot of others took note when our stupid government decided to weaponize the dollar, essentially breaking the agreed upon status of why it was a world reserve currency.
China figures we are already not getting along and who knows China might be the next target of the USA using currency as a weapon, so might as well unload all the US debt they have as fast as they can to other suckers and get enough gold and such so that they can do their own reserve currency or their own trading.
Just look at the pickle England is in.While we are focusing on our financial wellbeing and survival you ever think biden when he spoke about
the “ Winter of death“, already knows we have no future.
Neat! That means that with an 80:1 ratio silver should hit about $340.00/oz! It won't matter... If it hits $45.00/oz I can pay off everything I owe, get a new vehicle,
Just something to think about when having stars in your eyes about how rich you would be.
Gold and Silver never really go up all that much in value compared to the cost of everything you need to live.
Sure your silver might be $340 an ounce and a loaf of bread at the grocery store will be $40 so...
When the purchasing value of the dollar goes down, the price of everything goes up so you aren't any better.
Just something to think about when having stars in your eyes about how rich you would be.
Gold and Silver never really go up all that much in value compared to the cost of everything you need to live.
Sure your silver might be $340 an ounce and a loaf of bread at the grocery store will be $40 so...
When the purchasing value of the dollar goes down, the price of everything goes up so you aren't any better.
My post was mostly tounge in cheek, man. Not making fun of the poster I responded to but... Gold at $27000.00/oz? Silver at $340.00/oz? At that point we passed ROYALLY FUCKED about 12 exits back...Just something to think about when having stars in your eyes about how rich you would be.
Gold and Silver never really go up all that much in value compared to the cost of everything you need to live.
Sure your silver might be $340 an ounce and a loaf of bread at the grocery store will be $40 so...
When the purchasing value of the dollar goes down, the price of everything goes up so you aren't any better.
I totally agree Hobo but the “National debt” cannot possibly be paid back EVER in our current lifetime, we barely (taxpayers) keep pace with the interest owed that’s the absurdity of the whole system in play. I truly don’t know what will happen next but something has to give and I don’t think it’s the dollar gaining value.I look at it from some different perspectives. That run up is how much purchasing power of the USD lost today. Takes more USD's to buy that 1 oz. Gold Eagle.
The other perspective is people saying "I'll buy some more gold when the price drops down to $2k / ounce". The only way gold is going to drop in value is for the USD to increase in value. Looking at the world markets, there is very little happening to increase the buying power of the USD.
The petrodollar is history. Worldwide countries are buying and selling oil without converting the funds to USD's.
The National Debt is weighing heavily on "What backs the USD?"
There are many more questions than answers.
It's a house of cards, setup on a sketchy 3 legged table in a kitchen with the windows open...& it's windy outside.I totally agree Hobo but the “National debt” cannot possibly be paid back EVER in our current lifetime, we barely (taxpayers) keep pace with the interest owed that’s the absurdity of the whole system in play. I truly don’t know what will happen next but something has to give and I don’t think it’s the dollar gaining value.
The formula for the DXY is nothing but smoke and mirror's. No different than the formula's to keep the index funds increasing in numbers only.It's a house of cards, setup on a sketchy 3 legged table in a kitchen with the windows open...& it's windy outside.
Pretty much the only thing propping up the dollar is that every other fiat & fiat system is crappier. ATM.
And that brings up an interesting point... Gold price from the great depression (a little under $35.00/oz.) adjusted for inflation is about $803.00/oz. It obvious is not... Is that ROYALLY FUCKED I see in the review mirror? Shit! Did we miss it?The formula for the DXY is nothing but smoke and mirror's. No different than the formula's to keep the index funds increasing in numbers only.
How many Gold Eagles would it take to buy a new Ford F-250 work truck ?
About 28 Gold Eagles..... The equation is timeless.
Sadly you are correct so what does one do with their savings?? The stock market is rigged and run by the "system" and fiat is governed by the corrupted Fed. so I'm at a loss. Not sure there really is an easy answer to this perplexing crossroad. If hindsight were 20/20 I would still be in the market but I bailed after major losses in 2008 and now in retrospect that was a major mistake seeing the Dow just hit 40K!!! Insanely over valued but it just keeps going..........It's a house of cards, setup on a sketchy 3 legged table in a kitchen with the windows open...& it's windy outside.
Pretty much the only thing propping up the dollar is that every other fiat & fiat system is crappier. ATM.
I was reading a post (on international bullion maybe? been looking at a lot of stuff lately) that China is encouraging its citizenry to stack silver. @Blue Sky Country this probably isn't your jam but any thoughts? I figure you get more news than the rest of us...Silver is a better buy at the moment with the gold to silver ratio so high. We shall see what happens in the open market later tonight
The world is "changing" at light speed today in comparison to the 90's.I’m not touching gold at current prices.
I look at metals as a store of value, and not an investment.
I’m glad I was buying Apple shares in the 90’s and not gold. Only later did I buy gold, and primarily in the form of jewelry, and that’s only to have some form of money if all other systems go to shit. An example would be no debit, no credit, cash is valueless. Basically shit has gone extremely sideways.
Once again just my opinion and perspective.
Ebb and flow.. Like watching the tide tables in different parts of the world.Silver has a lot of catching up to do
I was reading a post (on international bullion maybe? been looking at a lot of stuff lately) that China is encouraging its citizenry to stack silver. @Blue Sky Country this probably isn't your jam but any thoughts? I figure you get more news than the rest of us...
Thank you for the input, sir! Always nice to have some verfication and I appreciate your taking the time!The situation in China is far more precarious than anything anyone can imagine. Think of a pallet-board raft on the high seas in a Category 2 hurricane and you will get an idea of how frail China's economy is. From 2022 to the present day, there had been FOUR major provincial bank collapses, with customers unable to access any funds and the central govt waiting until the last minute before exhausting all face saving measures and pumping life support into the banks so a full on revolt does not happen. And no less than 20 major real estate conglomerates with customers who paid down payments crashing and fleeing town with all their assets. Right now, nobody even dares to invest in new real estate over there, knowing that shit can hit the fan at any second. They have been telling people to stock up in silver and gold assets since early 2023 knowing that the situation is only going to get worse. Central authoritarian leadership over the private sector does NOT work.
Reloading is a commodity and possibly retirement plan these daysSoooooo....... After seeing this head line, let's "flip the coin over" and apply the same thoughts.
Analysts see no bottom in sight for the loss of buying power for the USD.
Gold rockets above $2,400 as commodities catch fire, analysts see no end in sight
The bottomless pit and the sky's the limit.
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Gold rockets above $2,400 as commodities catch fire, analysts see no end in sight
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100%! Plomo y Plata!Reloading is a commodity and possibly retirement plan these days
A lot of individual buying right now. I think the big dogs are dumping on future bag holders.Over the past month there has been 6 buying opportunities. Today is a buying opportunity.
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I think the Chinese are scooping up physical and paying for it with their USD's.A lot of individual buying right now. I think the big dogs are dumping on future bag holders.
Just my opinion.
Stay in your happy little bubble... Preserve your sanity.Yeah, checked my 401K for the first time since I retired/quit last week (today is my official date for end of employment) just to see where I am for my baseline budget going into my second, and what I hope what is my final retirement. Was shocked to see how much all my “zombie apocalypse“ funds have dropped in the two or so weeks since the last time I checked.
Only a 2% or so drop, but it’s weird seeing them fall after watching them grow, almost exponentially, the past couple of years. My paper gold (PHYS) in particular took it in the shorts the past couple days. Interesting…
I’m not sure if I’m happy or sad to see these stocks/funds tanking…generally they perform better when things are going to hell for the economy, and honestly, I want to stay in my happy little bubble.
That said, I actually see this as an opportunity to buy more tangible goods on the dip…and work on my health and skills now that I have more time! LoL
It all depends on your perspective / location just prior to the avalanche.Are we starting to hit that quiet period before the avalanche? I mean really hearing Joe sell off a chump change amount of oil for the July Holiday. Something is drastically wrong and warning bells should be being sounded by the talking heads.