I was in high school I think…was that when the hunt brothers pulled their shenanigans…
GOLD
- Thread starter Hobo Hilton
- Start date
There was another big run up similar a fair bit later on, early 2000 range.
All driven by paper trading of silver.
I'm still sitting on Silver I paid $40 an ounce for.
I figure I'll just hang onto it and sell that if I ever need to sell silver and that way I won't owe the Tax man much or anything depending on where silver is at around them.
April of 2011... Silver hit $49.22/oz. Fun fact... Silver is now north of $1/gram!
Funny you mention that date. I started purchasing a few rounds on 3/3/2011.
Mostly have just "dollar cost averaged" purchases, over time,regardless of where the market was.
Seems to be working out.
I have my eye on some land, a little higher and it might be time to unload some shiny.
What ever you do, don't listen to the "so called" experts. Go with your gut instinct.
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!
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.
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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.
$27,000 Gold | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
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.
I agree with your sentiment but that does make not my point moot...
1)China is buying precious metals like it is going out of style
2)China is buying mining opertations to accquire more precious metal
3)China is building huge vaults to store said metals
4)China is selling/divesting itself of US debit in a big way and has divested itself of 40% of the tresurues it held a decade ago.
Why? Can't say but I feel like China's economy ain't so great either and perhaps trying to shore up it up with a gold standard of their own or BRICKs or something
IDK... But yeah, the dollar sucks and the pain is just beginning. Everyone is un-pegging from it.
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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 zero
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.
Don't apologize for, what you term, ignorance.
Look at it as having a clean slate.
You have no "preconceived notions".
Until you actually take your hard earned USD's and purchase physical gold / silver you are simply a spectator. Similar to watching a football game.
No one has a crystal ball that will tell them what the financial world will do tomorrow.
If something seems hyperbolic then "take it with a grain of salt".
You are the captain of your ship. Never, ever allow anyone else to take the wheel.
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.
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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.
The nice thing about having PM's is the inflation hedge. In your example the OZ of silver bought for $15 will be worth 8.5 loaves of bread (340 / 40 = 8.5).
Where your $15 fiat cash would buy you roughly a 1/3rd loaf of bread. Salaries rarely keep up with inflation, let alone hyperinflation.
PM's however are not a great investment. For most folks.
PM's are an inflation hedge, wealth in hand which is portable, an oversimplified self insurance. Just another basket for wealth.
Plus, in the event of complete systemic financial catastrophe, a wealth portable device in hand for whenever a new stable fiat economy should develop. Which could be generational.
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...
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.
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.
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.
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?
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..........
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
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...
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.
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.
The world is "changing" at light speed today in comparison to the 90's.
Actually it is changing faster than the super computers packed with AI.
I am watching politicians, CEO's, Leaders in the Medical research / prescription arena, city planners and Americans in general.
They are formulating a plan today that they will execute, tomorrow, next week, next year.
At best they are correct 50% of the time..... More like they are right 10% of the time.
I hear the statement about Biden "How can one man be wrong all the time"? Slow to execute plans, among other things.
If any of you are "wing shooters" of water fowl.... It is ingrained in your thought process to lead the bird.
I follow both "The Law's of Nature" and "The Art of War" by Sun Tzu to help me prepare for things to come.
A question for the group - What is your time portal, Crystal Ball or compass ?
Annnddd appreantly the asian markets have opened... Gold is up .75% ($2443.10/oz) and silver is up 3.24% ($32.24/oz).
BTW, my compass is buy low sell high, have no (or as little as possible) debt, and live simply. My only other precious metals investements are in lead, copper, and brass!
BTW, my compass is buy low sell high, have no (or as little as possible) debt, and live simply. My only other precious metals investements are in lead, copper, and brass!
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Ebb and flow.. Like watching the tide tables in different parts of the world.
Just as the moon has different effects on the tides, so does the shrinking USD and the National Debt.
Read the tide tables and plan your next financial fishing trip.
Patience
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.
Thank you for the input, sir! Always nice to have some verfication and I appreciate your taking the time!
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Soooooo....... 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.
The bottomless pit and the sky's the limit.
www.kitco.com
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.
Gold rockets above $2,400 as commodities catch fire, analysts see no end in sight
The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com
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.
Gold rockets above $2,400 as commodities catch fire, analysts see no end in sight
The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Over the past month there has been 6 buying opportunities. Today is a buying opportunity.
A lot of individual buying right now. I think the big dogs are dumping on future bag holders.
Just my opinion.
I think the Chinese are scooping up physical and paying for it with their USD's.
JMHO
Either way =
Why does China buy US debt?
China has been running a large trade surplus in goods and services for years, meaning it exports more than it imports. As such, its international income has also increased from its growing trade surpluses, with many of the trade transactions with businesses in the US and other countries paid for with US dollars. Thus, China accumulates US dollars, which it uses to buy assets denominated in US dollars – such as Treasuries – as well as assets in other currencies. These assets are included in its foreign exchange reserves, which are now the largest in the world at US$3.22 trillion.
How much US debt does China own and why is it important?
As of the end of November, China owned US$1.063 trillion of the total outstanding US government debt issued by the US Department of the Treasury.
www.scmp.com
Here is a good video. George Gammon went through Argentina which is going through hyperinflation. What he found isn’t what most think. Gammon is pretty solid on his economic analysis podcasts.
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
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
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.
It all depends on your perspective / location just prior to the avalanche.
You and I could be sitting on the deck of the chalet, sipping a warm beverage, overlooking a world class ski area moments before that avalanche wipes out all those skiers who can't spell "avalanche".
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