GOLD

[fpgt72]

America is past the point of who is in the White House.
More important is who is on the SCOUS, who is in the states AG office, who the Federal Judges are, the directors of the 3 letter agencies, etc.
Laws are being passed today that will be selectively used to intimidate and control the populaces.
Pay attention.

U.S. Senate

www.senate.gov

Office of the Clerk, U.S. House of Representatives

I think the guy in the white house has something to say about federal judges and directors. One of the people running for office is saying he is going to can everyone (I think) grade 14 and above? Something along those lines. Personally I would start in DC on day 1, then see how things are going in about a month, they try other deep blue cities, I have a feeling your issues in the alphabet agencies will go away.

This is also the #1 reason he will never set foot in the white house again.

 

[IronSkillet]

I think the guy in the white house has something to say about federal judges and directors. One of the people running for office is saying he is going to can everyone (I think) grade 14 and above? Something along those lines. Personally I would start in DC on day 1, then see how things are going in about a month, they try other deep blue cities, I have a feeling your issues in the alphabet agencies will go away.

This is also the #1 reason he will never set foot in the white house again.

Disagree with the current resident of the White House it is apparent he is being told the, who and how for everything.

 

[fpgt72]

Disagree with the current resident of the White House it is apparent he is being told the, who and how for everything.

I mean that office has the power to do that.

 

[Hobo Hilton]

The reality is... This is bad news. Don't believe the propaganda about how strong the US Dollar is. Go out and try to buy something with your USD's... Reality

Gold Surges Past S&P 500 in Five-Year Growth​

Gold Surges Past S&P 500 in Five-Year Growth | OilPrice.com

Gold has outperformed the S&P 500 over the past five years, driven by factors such as inflation, uncertainty, and central bank buying.

oilprice.com

 

[Ison]

Gold has produced better returns than the S&P 500 since the 70’s averaging over 7% per year. I didn’t know that until recently.

 

[Stone111]

Here is the real price of gold and silver and here is how they manipulate the price down through paper contracts that dont actually exist or have the product to fulfill when the contract expires, they just settle in cash. The USD is actually worth nothing, the only thing that keeps it alive is that the perception of it is that it still has value. As long as I can keep trading something that has no value, the USD, and trade it for something that has value, silver and gold, I will continue to do so. Gold and silver ARE money, everything else is an illusion... If you dont hold it you dont own it. Buy it, put it away and forget about it. They have to supress the price of PM's at this point to keep the dollar from imploding, the reason they get away with it is the fact that the government allows it.

 

[Hobo Hilton]

Here is the real price of gold and silver and here is how they manipulate the price down through paper contracts that dont actually exist or have the product to fulfill when the contract expires, they just settle in cash. The USD is actually worth nothing, the only thing that keeps it alive is that the perception of it is that it still has value. As long as I can keep trading something that has no value, the USD, and trade it for something that has value, silver and gold, I will continue to do so. Gold and silver ARE money, everything else is an illusion... If you dont hold it you dont own it. Buy it, put it away and forget about it. They have to supress the price of PM's at this point to keep the dollar from imploding, the reason they get away with it is the fact that the government allows it.
View attachment 8399421
View attachment 8399422

The career politicians, fund managers and propaganda ran out of snake oil in January of 2024. The rest of the world figured out the ponzi scheme.

 

[Hobo Hilton]

Watching the "Financial Reporting" and seeing the lines blurred between the Strength of the USD and the Buying power of the USD.
At this point in time an American paying for this weeks groceries could care less about the Strength of the USD. He wants more buying power of his USD.

The only way for the price of gold to drop is for the USD's buying power to increase. Of course there will be fluctuation due to global unrest and paper gold traders. Seems to be building support around 2380. It will take some really great financial news to significantly lower the price. JMHO

 

[Hobo Hilton]

LOL... when the Americans go home for the evening, the dealing gets serious.

 

[Stone111]

Inflation is basically the increase of the money supply and we are feeling the effects of when they dumped 10 trillion into the economy during covid. In a sense there is no inflation but in fact its deflation where the dollar buys less and less, you just see it inverted on a price tag at the store. Until the USG stops spending and they stop printing money and people stop spending borrowed money it will only get worse. Gold and silver are going much higher, we are just getting warmed up.

 

[Hobo Hilton]

Inflation is basically the increase of the money supply and we are feeling the effects of when they dumped 10 trillion into the economy during covid. In a sense there is no inflation but in fact its deflation where the dollar buys less and less, you just see it inverted on a price tag at the store. Until the USG stops spending and they stop printing money and people stop spending borrowed money it will only get worse. Gold and silver are going much higher, we are just getting warmed up.

Watch the legislation moving through Congress.
The USG has not even tapped the brakes on spending. Pedal to the metal.
The International Monetary Fund (IMF) started running up the yellow flags this week due to the National Debt.
Housing market is slowing but banks are raising lending rates. Go figure.
FED Reserve is painted into a corner for their next move.
A presidential election is a ways off... But we can't vote ourselves out of this mess.
Best have yourself a lifetime supply of potable water and a pantry full of canned beans.
Have some physical gold / silver if you think you are going to "come out on the other side".

 

[Hobo Hilton]

April 22 (Reuters) - President Joe Biden on Monday will celebrate Earth Day by announcing $7 billion in grants for residential solar projects that will power nearly a million low-income households, the White House said.

After six months of congressional wrangling, the $61 billion aid package is now expected to be approved this week by the U.S. Senate and signed by President Joe Biden, replenishing Kyiv's critically low stocks of artillery shells and air defenses.

Hedge funds and other money managers have been stepping up wagers on gold as the bullion reached a series of new highs on the back of reaccelerating inflation.

 

[Hobo Hilton]

Lots of opinions today. The geopolitical situations did not go away over the weekend. When Ukraine gets new American supplies, the tensions will reoccur, more tense than ever. The drop today is due to the paper gold traders actions. They only make money when there is movement. Central banks will be buyers while you sleep.

(Kitco News) - Gold and silver prices are sharply lower in midday U.S. trading Monday, on profit-taking pressure and weak long liquidation in the futures markets. So far, these are just routine downside price corrections in major bull-market runs. More strong selling pressure this week would become more worrisome for the gold and silver bulls. There has also been a perceived easing of tensions in the Middle East, which is a negative for the safe-haven metals. June gold was last down $64.80 at $2,349.90. May silver was last down $1.534 at $27.305.

https://www.kitco.com/news/article/2024-04-22/gold-silver-sell-sharply-downside-corrections-less-risk-aversion

 

[Hobo Hilton]

(Kitco News) - Billionaire investor Ray Dalio has had a mixed relationship with the U.S. dollar over the last few years, and it appears he is once again raising doubts about the health of the greenback.
In a commentary posted to LinkedIn on Thursday, the former Bridgewater Associates CEO said he is holding gold as a hedge against a potential debt crisis and higher inflation.
The comments come as the U.S. government's burgeoning debt comes into greater focus. The U.S. national debt has surpassed $34.5 trillion. However, this is not just a United States-based threat.
During its annual spring meeting in Washington, D.C., the International Monetary Fund said in its Fiscal Monitor that China and the U.S. will drive global public debt over the next five years.
The IMF projects that public debt in the world's two largest economies could double by 2053. They also singled out the U.K. and Italy as two nations that face significant fiscal risks as their government debt rises.

Gold is ‘good money’ as a hedge against inflation and default risks, says billionaire investor Ray Dalio

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

 

[Hobo Hilton]

This market certainly keeps the Americans from going down to the local coin shop and buying gold at a discount.... LOL

 

[Hobo Hilton]

Texas says digital gold depository is an illegal MLM scheme​

Texas says digital gold depository is an illegal MLM scheme

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

 

[Sgtsideways]

Texas says digital gold depository is an illegal MLM scheme​

Texas says digital gold depository is an illegal MLM scheme

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

Correct me if I'm wrong, but I thought that the Texas politicians hadn't voted on that vault mentioned at the end of the article. Weren't they going to allow transactions in gold and use the vault for storage? Seems I read where other states were considering similar moves?

 

[Hobo Hilton]

Correct me if I'm wrong, but I thought that the Texas politicians hadn't voted on that vault mentioned at the end of the article. Weren't they going to allow transactions in gold and use the vault for storage? Seems I read where other states were considering similar moves?

Utah was the first state to recognize gold as a currency that could be used to pay state taxes. Other states have followed with similar plans.
The alumni of The University of Texas were the originators of the move to have physical gold held within the State of Texas.

Homepage - Texas Bullion Depository

The Texas Bullion Depository, Texas' first ever state-administered precious metals bullion depository for storage of your precious metals.

www.texasbulliondepository.gov

Texas Bullion Depository - Wikipedia

en.wikipedia.org

 

[Hobo Hilton]

The People's Bank of China, or PBOC, has been snapping up gold for 17 straight months, with its holdings of the precious metal rising 16% over this period, according to a report from the international trade association World Gold Council. This buying spree coincides with a trend among central banks globally to diversify their holdings to reduce their reliance on the US dollar.

People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold

China's central bank has been on a buying spree for 17 straight months as it diversifies its holdings away from the US dollar.

www.businessinsider.com

 

[Hobo Hilton]

The biggest driver for gold remains the global threat inflation has on wealth and the purchasing power of fiat currencies. We all know that the U.S. debt is on an unsustainable path higher as the government is now spending over $1 trillion in interest payments.

https://www.kitco.com/news/article/2024-04-26/gold-investors-need-look-beyond-headlines

 

[Hobo Hilton]

"At some point, the bond market vigilantes will be back because government spending is out of control," he said. "The interest expense on US government debt is more than the expenditure on U.S. defense. There is an alternative to holding U.S. Treasuries, and that is holding gold. Generalist investors don't see this yet, but they will at some point.

Gold is the cornerstone of stability as government debt rises out of control​

https://www.kitco.com/news/article/2024-04-30/gold-cornerstone-stability-government-debt-rises-out-control-abrdns-minter

 

[Hobo Hilton]

Counterfeiting has been around for thousands of years. Beware

China has a ‘fake gold’ problem — locals are getting scammed into buying artificial jewelry​

https://www.cnbc.com/2024/05/03/china-has-a-fake-gold-problem-as-more-locals-get-scammed.html

 

[Sgtsideways]

Counterfeiting has been around for thousands of years. Beware

China has a ‘fake gold’ problem — locals are getting scammed into buying artificial jewelry​

https://www.cnbc.com/2024/05/03/china-has-a-fake-gold-problem-as-more-locals-get-scammed.html

Karma hitting them...........I love it. For decades china has been dumping fake gold into world markets. One method was to use a tungsten core covered with a gold cladding.
The only reason the commies are allowing the serfs to buy gold is to be able to confiscate it later.

 

[Hobo Hilton]

“Government, central banks, and official institutions are not just acquiring gold for monetary purposes. This is consistent with the trend we have been seeing for the past 10 years,” he said. “Gold has proven to be a very powerful diversifier, and that is one of the key reasons that central banks themselves cite us as the reason for holding it.”

https://www.kitco.com/news/article/2024-05-06/central-banks-bought-16-tonnes-gold-march-sovereign-wealth-funds-are

 

[Bigfatcock]

Fuck paper gold. Buy 24k gold jewelry. Is now a bad time? Likely, but I say that from already owning gold. If I had zero gold then I would start averaging in now with smaller buys. A couple grams here and there. Maybe go for bigger buys on every $100 drop.

 

[7.62willdo]

Buy fractional gold, it will be hard to buy a can of beans with a one ounce gold eagle…….
and like the man said fuck paper gold….if you ain’t holding it you don’t own it…….

 

[Hobo Hilton]

Hello everyone.
I've decided that long term I want to put 10% of my portfolio into gold. My question is this - is now the time to do it or would it be the equivalent of closing the stable doors after the horse has bolted? Prices seem high at the moment so I thought it might be better to wait awhile and then drip feed.

I was thinking 5% in an ETF (physical gold) and 5% in Ruffer Gold or Blackrock Gold & General - good or bad idea? Thanks for the advice.

Buy now using what ever funds you have that are left over at the end of the month.... "Dollar Cost Averaging"
1) Keep everyone out of your gold... Government, wives, children,co-workers, etc....... One leak and that life raft is sunk
2) Deal in cash and leave no paper trail
3) Bury it in the back yard and tell no one what you have done.

What do you not understand ?

 

[W54/XM-388]

Buy fractional gold, it will be hard to buy a can of beans with a one ounce gold eagle…….

To start off with, if you are trying to buy a can of beans with your gold, you did things all wrong, you should be the one with the spare cans of beans to sell.
Always first invest in a good supply food and household goods before branching out into precious metals.

As far as if you need to buy small things (like the proverbial can of beans), that's what Silver coins are for.
You save your gold coins for things of much greater value.

A single good government minted 1oz gold coin is probably around $2500 average depending on the day.
That's a good start to investing in gold.

If you can't afford that, then invest in some good decent 1oz government minted Silver coins, probably around $30 average depending on the day.

I'd suggest having some silver and some gold.

 

[7.62willdo]

 

[Bigfatcock]

Ass for beans!

 

[Sgtsideways]

Buy fractional gold, it will be hard to buy a can of beans with a one ounce gold eagle…….
and like the man said fuck paper gold….if you ain’t holding it you don’t own it…….

Don't have a horse in the PM markets, but I have looked into it and I don't see why anyone would want to buy fractional PM's. The mark-ups are very high. In some cases, 2x or more over the 1 ozt. The other thing to look at is what you buy it for (ask) and what you can sell it for (bid).
Those spreads can be a killer......be prepared to hold for a long period of time and hope that you make a profit. Finding a buyer might be a problem, depending on the market.
Where I will grant the purchase of fractional is legit, is that a person can't afford purchase of 1 ozt. and it is the only way to purchase PM's. Silver might be the better way to go for the scenario that you propose.

I have no problem with diversifying by using PM's, but I do have a problem with a commodity that has been manipulated by the big banks (i.e. jp morgan $1B fine for instance) at the wholesale level, and then again at the retail level (spreads).

Hello everyone.
I've decided that long term I want to put 10% of my portfolio into gold. My question is this - is now the time to do it or would it be the equivalent of closing the stable doors after the horse has bolted according to Pakeconet? Prices seem high at the moment so I thought it might be better to wait awhile and then drip feed.

I was thinking 5% in an ETF (physical gold) and 5% in Ruffer Gold or Blackrock Gold & General - good or bad idea? Thanks for the advice.

I don't have a problem with ETF's for diversification, but do you really want to further line the pockets of larry FINK at blackrock. Really bad guy to do business with. Also, my concern with the PM etf's is whether they really have the bullion stored and thoroughly audited to show such. One etf has already been caught dirty on this issue.
If you can find an honest and reputable dealer in PM's, I would look at physical possession as opposed to paper. See my comments above.
Paper or possession and the way the rules are written, all of this stuff can be confiscated. So it remains a personal decision on what to do based on what a person sees in their financial/political future

 

[Bigfatcock]

All we have to go on for confiscation is history. The last U.S. confiscation was for coinage. Not jewelry. 24k jewelry is always my choice when I’m buying gold. It’s easy to break up for weight in link chain form, bead form, and rope form.

The downside is jewelry is going to cost more than bouillon, but it’s wearable wealth too. Plus anyone not in the know thinks 24k gold jewelry is fake due to the color.

22k and 18k are also options, but I wouldn’t go any lower in karat than 18k.

I don’t buy gold as an investment. It’s universal money, will always be money. Plus, how great is your gold “investment” when prices drop below your purchase price? Now you’re negative. Right now buying gold looks cool because it is high.

Just my view.

 

[Hobo Hilton]

All we have to go on for confiscation is history. The last U.S. confiscation was for coinage. Not jewelry. 24k jewelry is always my choice when I’m buying gold. It’s easy to break up for weight in link chain form, bead form, and rope form.

The downside is jewelry is going to cost more than bouillon, but it’s wearable wealth too. Plus anyone not in the know thinks 24k gold jewelry is fake due to the color.

22k and 18k are also options, but I wouldn’t go any lower in karat than 18k.

I don’t buy gold as an investment. It’s universal money, will always be money. Plus, how great is your gold “investment” when prices drop below your purchase price? Now you’re negative. Right now buying gold looks cool because it is high.

Just my view.

I have followed your thoughts for a good while. What I have picked up along the way is your focus on food (beans), shelter (rental property) and some form of currency to use as barter. One of the corner stones of Warren Buffets investing plan is to invest in the people rather than the company. You have people in your rental's that you know will pay the rent. This is why you keep it low to encourage good people to stay long term and pay for your property. With current conditions I'd say you have a better plan than most.

 

[Hobo Hilton]

Gold bars are selling like hot cakes in Korea’s convenience stores and vending machines​

https://www.cnbc.com/2024/05/08/gold-is-selling-like-hot-cakes-in-koreas-convenience-stores-vending-machines.html

 

[IronSkillet]

Tungsten covered creamsicles bars, lol

 

[Bigfatcock]

I have followed your thoughts for a good while. What I have picked up along the way is your focus on food (beans), shelter (rental property) and some form of currency to use as barter. One of the corner stones of Warren Buffets investing plan is to invest in the people rather than the company. You have people in your rental's that you know will pay the rent. This is why you keep it low to encourage good people to stay long term and pay for your property. With current conditions I'd say you have a better plan than most.

Good long term renters are worth way, way, way, way more than making an extra $1,000 a month in rent with a higher turnover or annoying tenants.

I’m not Mormon, but their thoughts on food stocking have always made sense to me.

Always have several forms of payment on you at all times. Cash, a credit card, and a tangible item of value. In my case the tangible item is jewelry. However it could be anything of value that’s small enough to have on you that can be pawned or sold very easily to convert to fiat, or used as money/trade itself. A skill can be useful as well.

 

[Hobo Hilton]

Today, 1/10th ounce Gold Eagle:

Missoula gold & silver Exchange = $271
Apmex (online) = $337

It pays to go local and shop around.

https://www.apmex.com/product/4/1-10-oz-american-gold-eagle-coin-bu-random-year

 

[Hobo Hilton]

(Kitco News) - Gold and silver prices are firmer in midday U.S. trading Tuesday following a U.S. inflation report that saw hot headline numbers, but the internals and revisions to the report were cooler. June gold was last up $10.70 at $2,353.70. July silver was last up $0.157 at $28.60.

Tuesday morning’s U.S. producer price index for April came in hot, at up 0.5%, month-on-month, versus expectations for up 0.3%. The “core” PPI rate (excluding food and energy) was also up 0.5% in April versus expectations for up only 0.2%. However, the March PPI number was revised to down to minus 0.1% from the originally reported up 0.2%. The April PPI report would have fallen squarely into the camp of the U.S. monetary policy hawks, who want to see the Federal Reserve hold off on any interest rate cuts. However, the big downward revision to the March PPI apparently mitigated the larger-than-expected jump in the April PPI.

https://www.kitco.com/news/article/2024-05-14/gold-silver-see-gains-following-mixed-us-inflation-data

 

[mewillis]

In my case the tangible item is jewelry. However it could be anything of value that’s small enough to have on you that can be pawned or sold very easily to convert to fiat, or used as money/trade itself. A skill can be useful as well.

I have a beautiful necklace that I bought my wife about 30 years ago Omega style. It is now out of style and not even worth melt value of 14k gold. Local dealers have indicated they aren't interested in it because it can't be sold at a profit and I would rather keep it than sell it for less than melt, I don't consider Jewelry a reasonable value because it isn't really worth shit when you try and sell it or trade it unless it's 24k which is hard to find and more than spot because of the "jewelry trap". As for gold it's 1oz US gold not foreign or fractional because of the ridiculous markup for 1/10oz coins, so 1oz silver is the way for lower value metals. But everybody has their own theory on "The Way" don't they........

 

[Hobo Hilton]

China, in for the long haul.
History repeating.

Dahdah added that 2013 was an important year for Chinese gold demand.
“That year, China cemented itself as the market of last resort: whilst prices tumbled by 29% in the first six months of the year (on the back of a Western investor selloff of physically backed gold), Chinese consumers opportunistically bought a record 1,400 tonnes of the metal, setting a floor at $1,200/oz,” he said.

https://www.kitco.com/news/article/2024-05-14/western-gold-investors-watching-fed-while-chinese-demand-dominates-market

 

[nikonNUT]

I have a beautiful necklace that I bought my wife about 30 years ago Omega style. It is now out of style and not even worth melt value of 14k gold. Local dealers have indicated they aren't interested in it because it can't be sold at a profit and I would rather keep it than sell it for less than melt, I don't consider Jewelry a reasonable value because it isn't really worth shit when you try and sell it or trade it unless it's 24k which is hard to find and more than spot because of the "jewelry trap". As for gold it's 1oz US gold not foreign or fractional because of the ridiculous markup for 1/10oz coins, so 1oz silver is the way for lower value metals. But everybody has their own theory on "The Way" don't they........

100% on the silver but keep in mind that there is a $1.25/oz pull back on sell price (Just ounce rounds. Junk silver and bars have a WAY harsher pull back). And while I bitch about the premium of eagle coins versus rounds there are some tax advantages to monetary bullion versus non-monetary bullion.

 

[Hobo Hilton]

100% on the silver but keep in mind that there is a $1.25/oz pull back on sell price (Just ounce rounds. Junk silver and bars have a WAY harsher pull back). And while I bitch about the premium of eagle coins versus rounds there are some tax advantages to monetary bullion versus non-monetary bullion.

You are making a judgement call on 'the way things are today".
All the way back to the beginning of time, Empires were built on gold and silver.... Never on fiat currency.
A lesson the Chinese will never forget and a corner stone of their Empire today.

 

[nikonNUT]

You are making a judgement call on 'the way things are today".
All the way back to the beginning of time, Empires were built on gold and silver.... Never on fiat currency.
A lesson the Chinese will never forget and a corner stone of their Empire today.

I suppose I am and if things go to shit and barter is the norm none of what I mentioned matters. However, as folks dump metals they acquired (because of assumed physical wealth and growth) to cover bills, etc. because they can't make ends meet I am thinking they are in for some hurt/shock when they get the per ounce pull back AND the (up to... considered ordinary income) 28% long term capital gains because silver and gold are considered collectables unless you have monetary bullion (Very grey area to this non-tax expert). Me? I'm keeping mine for the long term.

BTW... Silver is up $1.02/oz and Gold is up $30.90/oz.

 

[hollowoutadime]

$29.65 Hi-Ho-Silver!

 

[Hobo Hilton]

I suppose I am and if things go to shit and barter is the norm none of what I mentioned matters. However, as folks dump metals they acquired (because of assumed physical wealth and growth) to cover bills, etc. because they can't make ends meet I am thinking they are in for some hurt/shock when they get the per ounce pull back AND the (up to... considered ordinary income) 28% long term capital gains because silver and gold are considered collectables unless you have monetary bullion (Very grey area to this non-tax expert). Me? I'm keeping mine for the long term.

BTW... Silver is up $1.02/oz and Gold is up $30.90/oz.

There will not be a "pull back" in the value / buying power of gold. There never has been. What appears as a pull back is when people put value in the fiat dollar. At one time the US Government established a fiat dollar to gold ratio... How has that worked out ?

 

[mewillis]

Just think about this "scheme" BRICS https://www.britannica.com/topic/BRICS. The US dollar is NOT the world standard because nobody trusts the fiat 24/7 printing. IMO the "Gold Standard" is going to be a tough sell because there isn't enough gold on the planet to answer a call for Trillions of anything let alone fiat dollars no matter what country it's from. This is why US and every other country is a promissory note which will eventually fail. Once the lights go out digital anything is a bad dream. From the time of Christ and before, precious metals are really the only source of wealth, with the exception of precious stones. Think about it and History is always a good source of information. This may be worst case scenario idealism but should be in your plans to be sure.......

 

[Hobo Hilton]

Just think about this "scheme" BRICS https://www.britannica.com/topic/BRICS. The US dollar is NOT the world standard because nobody trusts the fiat 24/7 printing. IMO the "Gold Standard" is going to be a tough sell because there isn't enough gold on the planet to answer a call for Trillions of anything let alone fiat dollars no matter what country it's from. This is why US and every other country is a promissory note which will eventually fail. Once the lights go out digital anything is a bad dream. From the time of Christ and before, precious metals are really the only source of wealth, with the exception of precious stones. Think about it and History is always a good source of information. This may be worst case scenario idealism but should be in your plans to be sure.......

Just think "fractional" gold. Perhaps a 1 gram gold bar could be worth $1 million. The same thing for a 1 gram silver bar.
But, currency would be backed up by physical.
Regardless, time to inventory Fort Knox.

 

[nikonNUT]

So silver seems to be hitting the double break out that's been hinted at. Might have to sell a small fraction. Daddy needs a new truck!

 

[Hobo Hilton]

So silver seems to be hitting the double break out that's been hinted at. Might have to sell a small fraction. Daddy needs a new truck!

Last week at my local coin dealer I watched an old guy raise the trunk on his old beater and pull a hand truck out of the back seat.
I held the door open for him as he turned in a few hundred pounds of silver bars. Could be time to trade in the beater for a new ride. I conducted business and left. Wondered if he was trading silver for gold. Then he would not need a hand truck..... LOL

 

[W54/XM-388]

So silver seems to be hitting the double break out that's been hinted at. Might have to sell a small fraction. Daddy needs a new truck!

I still remember long ago when Silver was almost at $50 an ounce before crashing hugely.