Currently Paper Gold is selling @ over 100 X amount mined for the year, and Silver is worse at north of 400 X the amount mined.
I'm not going to research gold in depth for this article, but Silver mining produces around 1B Troy Ounces a year currently so its about $30 B a year in new silver worldwide, a very small amount of Gross World Product of 100T, but with paper trading over 400 they turn it into a $12T churn.
Most silver is mined as a Byproduct of other mining, Gold ,Aluminum, Copper, and other . Several reports that China is buying up silver pre-refining and that isn't reported in the 1 B ounces. Will do research and confirm or deny with sauce.
Silver is the most conductive elemental metal and that is it's usefulness in Electronics, Batteries, Solar Panels. Without the conductivity of the silver where needed, all of the above would be unpractical in regards to power transfer efficiency. Over Demand for silver has been the case for a few years, but the amount of silver stockpiled up by industries, central banks, and bullion collectors, etc... Is massive.Silver is also antimicrobial and used in internal and external medicines
Another bright spot will be when silver is legal tender and in common use. A downside is lesser demand because Meh solar, and electric cars suck.
Gold @ 100 Paper per actual oz mined, which is crazy numbers high too. Gold is also used in electronics, but a lot more sparingly, its purpose is where staying shiny and untarnished matters like CPU and connector pins. They don't have to be solid because bost electricity travels along the surface of the wire. Gold is used in dentistry, but its not that big of market. Some estimates put gold at over 50% in Jewelry, but I think that is misleading. All the Central Banks are sucking it up and have been since their inception.
Gold is more steady in % of ups and downs, but silver is way more useful, Link shows ratio of mined/ price etc. of gold and silver From link:
Geologists estimate that there are approximately 19 ounces of silver for every ounce of gold in the earth’s crust, with a ratio of approximately 11.2 ounces of silver to each ounce of gold that has ever been mined. Interestingly, the silver-gold ratio in ancient Egypt was 1:1.
Current Gold silver ratio is about 85, so gold is way over valued compared to scarcity and silver's usefulness.
Why would anyone who’s been stockpiling “sell” at $FRN 1000-5000 unless they needed to pay off debts in FRNs?
At that point, it’s obvious the FRN is free falling into well deserved oblivion, and the price of an ounce of silver will actually end up being closer to $1, since that’s what the dollar is, constitutionally!.
Anyone who wanted to stick with FRNs or needs payment in FRNs will get stuck with some terrible payoffs.
What should actually start happening at some point is a dual economy reversion to people paying for lunches with a silver dime, while bankers receive $10,000 FRN payoffs from 2-8oz of conversions.
Less people chasing FRNs means the value will ”go down” more, which means silver will “go up” more, but this also means that we are fundamentally validating assets in terms of fiat, when we should be valuating assets in terms of assets.
$FRN 800-1200 is probably a reasonable baseline, but before the FRN goes hyperinflationary.
We should start pushing a delineation between the $USD and $FRN to help drive awareness in peoples’ minds.
To be specific, paying off the last three months rent in advance with a nice letter to the property owner. I also pay my rent early, sometimes almost a month. I want my 1,995 deposit back gladly. Once I have that, then I email the property owner about how his scumbag management company lies. The owners are getting fed up with property management, but started using their own repair contacts some of the time.
Another portion will immediately pay for my almost 10K dental implant, which has no rush, its at 0% APR for 15 months.
My goal is to move to my wife's country, but she can't live there yet. So after moving and making sure we like it I can pay the rent ahead, and utilities ahead, then she can send me her portion of the bills towards living abroad.
I owe SSA for overpayment for last year, and a little this year so far, if I quit work (Just sent notice) and I pay them now for last year, and can pay them the quitting now overage, my SS will start up again in January (Even if there's some lag in processing) If I don't pay then they will resume paying my SS in the middle of next year, but take it back for 10 or 11 months if I quit now, or 18 months if I work to end of this year.
Salary cap goes away next year
Half my stack is from FRN in the bank, and half at 0% APR spread across multiple cards. Welcome bonuses made up for CC fees, typically 4% or more. So all this 0 APR , has been paid off.
APMEX is slightly pricey, but if you get their CC they give you their 4% CC fee back in future purchase points. Welcome Bonus for me was 250 and you had to spend 2k within xxx months, that more than makes up for them being pricey. Premiums on gold are a lot better than on silver., buy the sale, buy the dip. Even if you only do that and buy nothing else, you are a bit ahead of the game.
I also need to have an emergency fund (Not in the bank) for while living abroad. I started stacking as wealth preservation (Not that my modest stack could be classified as wealthy) and taking the inflation out of leveraging my credit scores with the welcoming bonus and 0 APR
My wife makes a lot more money than I, and I funded 80% half our house in her country, she is the absolute worse at managing money, she plays millionaire for a month when she goes back home. I consider the house helping my wife provide for herself.
I have no children of my own, and my few relatives are full libtards, or take everything you can get from Sugar Daddy Uncle Sam, they do work though...
My goal is to go broke on the exact day I pass away. The vast majority of people end up having the Nursing home drain their wealth slowly, or the Hospitals draining you fast if you are there more than a day, or even outpatient surgery.