The price of gold is down about $50 an ounce and silver is down about $1-$2/oz in the last week or so. We were told that the prices would go up since Biden banned Russian gold. What's going on?
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Look again at the question posed.
Why is the price not going the way people expected?
Because even though we have 5000 years of history saying gold and silver were traded for currency, it hasn't been that way for about 100 years.
People don't know what it's worth anymore.
Like I said:
Your average, modern western sap has no idea of the worth of gold and silver. Unless you trade gold and silver, it's worth next to nothing.
Just because YOU find value in it, and just because bankers and industrialists find value in it, doesn't mean the average layman does.
I'm serious here.
Go and find someone off the street and ask them how much a gold coin is worth.
They will have no clue.
100 years ago they did know what a gold coin was worth, or had some idea of it.
Not so now.
What advice am I giving other than the obvious? You can't eat it, and the people who do happen to know its real value will not be willing to trade it for food or anything else.
To further clarify, I've not at any point said "don't invest in precious metals".
Go ahead, it doesn't matter to me. I think it's a sound investment.
But if asked "why are prices dipping?" I'd have to point out the obvious:
Westerners have been taught for about a century that precious metals have no value outside of a jewelry store.
And for that reason, they're retarded.
Doesn't mean gold and silver are worthless. It simply means gold and silver are worthless to the vast numbers of retarded people you encounter on a daily basis. All they can think is "oonga boonga, shiny" when they see gold and silver. Hell, they can't even tell what is or isn't real gold or silver. You say karats and they think "like the vegetable?"
My point still stands. It's something that's nice to have, but it's not gonna help you put food on the table when everyone is just looking to eat something that won't poison them.
You can condense all of that into:
https://www.youtube.com/watch?v=D_x8VswuLwU
https://www.youtube.com/watch?v=BgUxF7gvYeE
https://www.youtube.com/watch?v=Xzt3EcIo5tk
I'd not seen these before, but yeah...
Their reaction to almost two grand worth of gold not being of equal value to a half-finished tub of ice cream is about what I figured would happen.
You still don't see the problem there?
In a SHTF scenario, no one is gonna give up their gold or silver. They'll sit on it.
I'm glad you can trade with your local farmers TODAY, but when they're the ones with all the food and the coin, what could you possibly offer that they don't already have in spades?
Again, I'm not saying it will be worthless in the long run.
I'm saying, the vast majority of people are more likely to stab you and just take your stuff than trade with nebulous gold and silver. They know what the cost of a sharp blade is better than precious metals.
I doubt you're gonna risk taking all your gold and silver coins to market to buy a couple tomatoes.
Don't get me wrong, I don't wanna be argumentative. I'm just looking at things realistically. I support your decision to invest in gold and silver. I'm NOT knocking the asset.
I'm knocking its ability to be traded when the lights go out.
It's exclusively a long-term investment option. It's only valuable during recovery, not in the midst of the economic collapse. You're looking at about a year, minimum, until people might start trading with it.
The biggest problem we face right now is that the majority of precious metals is in the hands of a very, very tiny minority. That's market manipulation, sure, but it's not like all that gold and silver is just gonna litter the streets suddenly and we immediately will switch to it as a primary form of currency.
Hoarders are gonna hoard, and that stubbornness is the basis for economic stagnation on a good day. Do you think they're gonna be wiling to just start offloading their gold and silver willy-nilly?
Just like land, until I'm faced with starvation I wouldn't give it up. If that were to happen, then I'm pretty sure I won't get the value back as compared to what I put in.
Long story short, don't bet all on gold and silver. Diversify your assets in anything physical. Don't put any weight in fuzzy numbers on a screen or a piece of paper. If you can hold it, and it works without electricity, it has value to someone.
Though chances are, you're gonna spend more of your resources to find someone who will take gold and silver on a fair trade than its worth lugging around.
Rev 17:18
And the woman whom you saw is the great city, the one having kingship over the kings of the earth.
Which city contains the United Nations and is falling apart at the seams as we speak?
You might want to read Revelation 18 and consider what's going to happen when Babylon falls, with the viewpoint America IS Babylon.
https://www.biblegateway.com/passage/?search=Revelation+18&version=KJV