Why are they down so low? Also why are they mimicking the stock market? I think we've been sold on a load of crap.
Why are they down so low? Also why are they mimicking the stock market? I think we've been sold on a load of crap.
The experts will always say to buy precious metals and I fell into that trap starting in the late 90's. I used to buy (1) gold eagle every pay day for approx $300/oz and sold them all when gold rose to $450/oz and tossed that cash into my IRA. I would have done better to keep the gold and sell when it hit $1800-ish/oz, but how would one know it would rise that high?Originally Posted by 1 Patriot-of-many
I still have silver eagles that I paid $8/oz and last I checked (20+ yrs later) the sell/buy price now shows it was NOT a good investment, however I will say that back when Jimmy Carter was POTUS my dad bought several hundred silver medallions for approx $3/oz and when the Hunt bros started screwing with the silver market it rose to around $40/oz...if I remember correctly.
What have I learned about all that in all these years? (1) Get out of debt...as in ZERO debt, and (2) Buy land with cash.
My $0.02
Good advice from 308, here's my 02˘
The precious metals market pricing is completely controlled.
About 2 years ago, JP Morgan was fined almost a BILLION dollars for manipulating the gold prices (which didn't put them out of business).
It's one of those situations where you're in for the long haul.
NEVER spend more than you could throw into a burn barrel without missing.
Plenty of people have tried to get rich quick, and gotten screwed into the ground by con artists that prey on greed.
Don't sweat and don't fret.
Put some coins under the closet floorboards or in a mason jar behind the basement workbench, then forget about them.
One day in the future, you'll catch a news blurb that "gold is at an all time high!"
That may or may not be the time to sell...either way it's a gamble and judgement call.
Been Dave Ramsey for 6 years. House paid off, no consumer debt, All income going into 401K's, Two Roths and a brokerage account. Needless to say since the Biden puppet group, it's all down, But still an everyday millionaire.
Good to hear my friend. I went thorough Ramsey's FPU years ago and decided to follow the narrow path. But yeah, our 401Ks are in the toilet.
#letsgobrandon
Negatory...
Precious metals have never been a store of wealth...they fluctuate like any other commodity, but, apart from a few instances of specific investors with minor manipulations (not sure it was the Hunts, I believe it was Warren Buffet) in silver, the JP Morgan manipulation you've mentioned, it is not really possible to create wild swings in market prices. It takes things like war, financial panics, depressions, etc. to do that.
Precious metals vary in an inverse rate to the currency they're valued in. When the dollar goes up, the value of silver and gold go down. Think about it...if the value of your particular currency rises (whatever it may be...dollars, pesos, rice [used for nigh on 600 years in a part of Japan's history]) your currency can buy more of a particular commodity. If your currency is declining, you can buy less.
There is still one currency in the world that demands ultimate respect, and that is the dollar. Just as the currency of Rome was once the dominant and single most trusted currency in the world, the dollar occupies that position today. And as long as the dollar occupies that position of world wide trust, it will remain remain as the goto world currency during hard times.
Hard times are coming...the globull elites have been engineering that...wars, rumors of wars, pestilence, famine. With the turmoil throughout the world right now, money (capital flows) has(have) been flooding into the US (considered the safest place) causing the dollar to rise, thus gold and silver fall, with respect to the value of the dollar.
The time to worry is coming, when the dollar is no longer considered a viable, safe place to park money. That is part of the great reset globullist's plans...to ultimately destroy the US and the dollar. When that time comes the dollar will plummet, gold and silver will rise exponentially, though by that time you may be better off having invested in beans, bullets and bunkers.
In the meantime...there will be a number of fluctuations as this unfolds in the next few years...buy low, sell high...and buy more beans and bullets...and a bunker or two if you can.
Last edited by Oswald Bastable; 09-29-2022 at 02:43 PM.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
When shtf, the dollar collapses, or cash is scarce, then a thing called price discovery takes place and metals should rise dramatically even if only on the black market. Consider metal more like insurance than an investment. The reason why spot is so low is because people still buy metal on paper, fiat metal, contracts, but when no one is buying fiat metal and demands actual delivery of metal, the s will truly htf because there are large multiples of paper ounces in existence than there are actual supplies of metal. The Wiemar republic collapse is a prime example of what can happen to "modern" fiat currency where those who had metal became rich and those who had paper burned it for warmth or used it as wallpaper. Also look into a guy named John Law and what fiat currency did for France. Metal has always been used as money all through history and in every almost culture, and it cannot be inflated. Well, I take that back because someone apparently sold some gold coated zinc bars to the chicoms a while back, at least I think it was the chicoms who got ripped off. This is why I only deal in US silver coins as they're hard to spoof unlike, say, a guy coming to you to trade for your car with his alleged silver cast into funny shapes or bars or ingots or whatever. I'm not a metallurgist equipped to determine what metal a given bar is made of. Then of course you have to consider if the regime does a roosevelt and restricts US citizens from holding gold or whatever else is to be stolen by the regime. Just some musings on the topic.
Last edited by 5.56NATO; 09-29-2022 at 04:45 PM.
"And how we burned in the camps later thinking, what would things have been like, if every security operative, when he went out at night to make an arrest, had been uncertain, whether he would return alive and had to say good-bye to his family?"
Done and done with both silver and gold but at about 100 - 1 mix.
I also have a bunch of copper wire of various gauges and about 8-10' of half-inch pipe.
“I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”
i've heard many say buy gold and silver in case the economy collapses. it was explained to me, what will you weight your gold against? how much of your gold are you willing to give for a loaf of bread, a gallon of gas, medicine for a sick child? the gold was bought for $1700 an ounce. but now there are no dollars. did i just hear your stomach growl?
Lead will be a much better hedge against the collapse of the economy....
"Valar morghulis; valar dohaeris."
Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable
Making good people helpless won't make bad people harmless.
Freedom isn't free.
"Attitude is the paintbrush that colors our world." TV Series, Haven.
My Spirit Animal has rabies.
I'd rather be an American than a Democrat.
"If you can make a man afraid, you can control him" Netflix Series, The Irregulars
Not really but it will be invaluable when you go "shopping".
“I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”
I had a dream the other day where the only part I recall was people were paying each other with shards of minted coin, ie a slice off a canadian penny, the part I absolutely recall with accuracy, meant the same as a penny, US or canadian. My guess is in the dream the coinage was sliced up to aid in trade as no more were being minted and the economy had collapsed but a means of trade was still needed.
"And how we burned in the camps later thinking, what would things have been like, if every security operative, when he went out at night to make an arrest, had been uncertain, whether he would return alive and had to say good-bye to his family?"
That is the usual mode of trade upon the death of great civilizations.
Because their currency was valuable before the fall, parts and parcels of it are therefore considered of value afterword..for a time. A method of trade must emerge, else all that is left is barbarism.
Last edited by Oswald Bastable; 10-12-2022 at 11:42 AM.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
I'm going to assume our beef cattle will be a good hedge as well. Bartering with my hay growing neighbors is working out so far so good.
As long as you protect them day and night,Trade you a nights watch for a 8oz sirloin......
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