Debt to cause "Dramatic re-pricing"...Gold to $3000-3500 soon?
(www.kitco.com)
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Gold to $650,000
Why stop there? If gold went to $1 Billion / oz I still wouldn't trade it for fiat currency. I would rather use metals to directly buy things I need than trade it for some intermediary, and valueless, paper currency.
But... you could trade some of it for fiat currency to then pay off your fixed rate debt obligations if you have any, such as a mortgage or a car loan (assuming you did fixed rate).
That might be correct, but I have worked very hard to be debt-free. I own my house, two cars, and only keep a small credit card debt and pay it off monthly, more for the air miles I get than for any other reason. I am virtually debt-free, and could pay off my credit card with a simple check.
I stack silver as a hedge against currency failure, nothing else.
"...I have worked very hard to be debt-free. I own my house, two cars, and only keep a small credit card debt and pay it off monthly,.... I am virtually debt-free, and could pay off my credit card with a simple check.
I stack silver as a hedge against currency failure, nothing else."
That's about where my wife and I stand. I can't afford to buy any more gold at its current prices, but I've been stacking silver as fast as our finances (bidenflation) will alow.
Not all of us are as lucky to be debt free. I would 100% trade an ounce of gold for $650,000 and elimate all my debt so that i own all my shit.
Same situation here. If you can't afford it, you don't buy it. Wished others would get that...now there's sub-prime auto loans defaults left and right. Never saw so many repo men in all my life. "Them spinnin rims be mine tho!" 🙄
Growing up in rural, mountainous east Tennessee as the child of parents who went through the Depression and WWII, I learned the value of money and the silliness of vanity purchases and fads. There is not much in the way of luxuries in my life, with the possible exception of English Blue Stilton Cheese and Sumatra coffee. I wear the same clothes year after year as long as they are serviceable...and by that I mean buttons can be re-sewn on, shoelaces replaced, and so on.
A wealthy man is not the man who has everything he wants, it's the man who wants everything he has.
Hebrews 13:5 King James Bible Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.
I'm really glad for you. Well done. Many of us aspire to achieve what you described for yourself, myself included.
I have a couple thousand dollars face value by now of junk silver. If we end up in an age of barter for a time, pre 1964 .90 silver coinage will be handy.
Yup, my thinking too.
Amen. I'm still blown away i can trade useless fiat for silver and gold. The feds still want to tax it as a capital gains when you sell it though. So direct trading off the books is the only way to go.
Your terms are acceptable.
If true, what will happen to the Dollar? What about silver? Any learned financial anons here?
IMO the rumors of a dollar collapse are false. The dollar would hyperinflate first.
Also my opinion, it's nice to see silver and gold where it is, and I believe other countries buying gold/silver are what is driving up the price. Other countries know the dollar is shit.
Interesting in the video, he mentions a controlled default. Didn't our Pres say we're going default?
I'm not sure the dollar would be around long enough to hyperinflate. Too much of the world relies on trade with the dollar. It isn't like Venezuela - nobody really cared about their money and didn't rely on it for anything (other than the Venezuelans). We won't see people wheeling around wheelbarrows of dollars.
I think if the dollar does crash it will be over a 2-4 week period while the world adjusts to trading with BRICS currencies, or they will just go straight to Chinese, Russian, or European currencies. The rest of the world won't wait while the dollar goes to fractions of a cent.
It said silver will outperform gold
Hope so, I'm heavily INTO stackable silver.
It’s looking like gold will skyrocket first dies to its historical position and the love Central banks have for it. I think that sometime into this process we’ll find out how fraudulent the silver market is and that’s when it takes off.
Silver will eventually move back to the 17:1 ratio it comes out of the ground. May be slightly better since silver has actual industrial and medical uses. Right now though silver is very highly manipulated and it will be awhile before the paper silver issue is fixed.
If gold is lets say 2500 an ounce that would make silver around 150. The thing about gold is that it takes the same amount of gold to buy a loaf of bread today as it did two centuries ago. Golds real value hasnt changed. Its the fiat currency whose value has been reduced.
All the silver in solar panels is lost forever
Federal reserve notes will go. U.s. treasury note will replace them.
Powell and Yellen are absolutely STUPID and should never EVER been allowed to manage money of any kind. It's only going to get worse from here on out.
It’s not stupidity, they know exactly what they’re doing. They’re protecting the bond market at the expense of inflation. IMO they’re doing their absolute best to cover up a century of crime and fraud on the American public.
Yes. You are absolutely right. But stupidity got them where they are.
If it went that high, I’d have to take off my gold wedding band and wear one of those black rings instead.
If I took mine off Id have to say that the ring its made on the skin would last a long ass time. I havent had my ring off in nearly 40 years. I dont even know if it will come off without cutting it. My fingers are quite a bit pudgier in my late 50s than they were in my early 20s.
I have mine put up. My wife bought me one of the really good silicone rings to wear. I cut myself a few times while working in my garage, and I was working around EXTREMELY high voltage while working in the nuclear plants. We both thought it was a good idea. Besides - now I won't ever lose my real ring.
LongTimeListener, that's how it was with my father. He never took his wedding ring off, and probably couldn't even get it off -- until he had a fairly serious injury to his left hand, and the surgeons had to cut the ring away.
He says silver at $45-50 per ounce by the end of 2025. We'll see.
He also recommends holding platinum.
Yeah, but if the new dollar is worth a fraction of what a penny is worth now, it's kinda a hollow victory, no?
There is another way. (Yota voice)
Lead?
Expand your thinking. Major changes coming. But the level of disruption to the average American will be relatively small. Gold will spike but not that high and then settle higher than now but not outrageous.
While I HOPE you're right, I fear you aren't. I see gold going ever higher in response to panic buying AND devaluation of the dollar. Also silver and for the same reasons.
Precious metal not meant for holding very long :)
Well, says you... I plan to hold mine until it's worth something that money won't buy in the future ... like food, gas, and necessities. Your mileage may vary, so you do you. I've held mine for a VERY long time indeed, just laying in wait for the day that I have to pull it out of deep storage.
I guess I didn't word that right. Lead was meant to give away at high speed the minute you need to use it. Until then, it should remain in storage unless you are practicing.
Ah, now I see what you meant. Me too, in various "denominations" too. Yup, that stuff is expendable and can protect your silver and gold.
BTW - thanks. I was stuck on 7666 for comments.
Heh, glad to help you move off THAT number.
In reality, there's so few stacking trading fiat for PM is not much if a concern. Not long ago I saw somewhere that only 10% of Americans had any at all, and I have a hard time believing the percentage is anywhere near that.
So many people I've talked to agree that stacking is a great idea ... just not now. I want to buy XYZ, or I can't afford it because XYZ - meanwhile no problem getting take out every night at stupid Sysco prices.
I think it's not a popular idea (for so many reasons) but while most agree it's a noble idea, they won't even buy a single round... and part of that is by design (not popular with the herd... didn't read it's the thing to do on Facebook etc, TV didn't tell me it's a sure thing) and another reason is, people aren't motivated enough to seek out where to buy...IF and that's a big if, local coin shops carry anything, you're getting cornholed on price... many erroneously think you can just waltz into the bank and buy Ag/Au. There may be a few in the US still, but that hasn't been a thing since the 80s.
Just to illustrate the insanity of inflation... Gold was $1080/oz back when I started stacking seriously in 2014. It's now $2375/oz. Same with silver - $14/oz, now $28.xx/oz. Our buying power dropped 50% in just 10 years... and it was already pretty weak. Many look at stacking as an investment...I look at it as freezing the buying power of my money to preserve some of the generational wealth these rat bastards are stealing from us.
If you're planning on leaving a little something for your loved ones, consider stacking PM and giving them that instead if any kind if currency. The chances of it going down are very, very slim. I can't think of anything better to park money than PM. You hold it, you have it... It's unlike anything else. It's literally backed by itself... so while holding some crypto is good for practical reasons, it's not backed by anything and even if it was, nobody wants or needs "extra steps" to get right down to the "backed" part...
If you've never watched it, I highly recommend watching Mike Maloney's Hidden Secrets of Money. It's excellent and rated G, entertaining, educational and on point:
https://www.youtube.com/watch?v=DyV0OfU3-FU&list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc
"Many look at stacking as an investment...I look at it as freezing the buying power of my money to preserve some of the generational wealth..."
...which is my strategy exactly. No, it's NOT an "investment," as in, buy low and sell high. I stack physical silver (rounds, bars, ingots, and 90% pre-1964 silver coins) against the day that my dollars won't buy anything...or when it takes trillions of inflated dollars to buy a gallon of gas or a loaf or bread.
If that day ever comes, merchants will figure out damned quickly what amount of silver will buy what commodities. It may take a couple of weeks, but any business that wants to remain alive will figure out a barter system or die. That's why it's also good to have food, water, and ammo put back as well.
Yep...Spot on. Stacked plenty of brass and lead during the Obongo years...
Started with US coins, then moved to rounds and bars after I hit my number. I figured coins are going to have the best recognition by normies and merchants should the shtf and I have to resort to that.
I'm also digging the Valcambi snap offs for bartering higher value items should the need arise.
Not familiar with the "snap offs" but sounds like a good idea.
Re: https://www.silver.com/50-gram-valcambi-gold-combi-bars/
Thanks, I'll check them out.