Today, Saturday I just bought a couple grand worth of Silver

[angie_nrs]

I speculated earlier in the thread about what would happen if people flooded the banks. The reason it's happening is not what I thiought it would be, but the end result might be the same anyways. If it starts in Canada, it's likely going to trickle down everywhere. What if the banks start imposing limits on withdrawls? Clearly the Canadian dictators there have no problem freezing accounts of those they don't like.

It feels like the Central Banks are stating to lose control. I believe they are the ones controlling the price of PM's. Well, if they lose that ability, I wonder how high PM's will go? I think I'm done buying PM's now, but I'll never say never. At this point, I'm just keeping a closer eye on it than usual b/c I expect a pop to happen soon.

I read somewhere that when the Fed starts raising interest rates, it means the collapse is in full self destruct mode. I can't remember exactly what the rationale behind it was though.

 

[Tacitus]

It is presumed that the Fed will have to raise rates to stop inflation. They have said it is coming. It doesn't necessarily mean that the collapse is coming. Something you will hear, over and over, if you watch business news, is that we are in unprecedented territory. No one really knows what will happen. Now, we never ever really know the future, but to hear "unprecedented" so often is a definite concern for me.

 

[hiwall]

I think I'm done buying PM's

Yeah, I thought I was done but more are to be delivered today so I guess I wasn't quite done.

 

[Neb]

Elkhound posted here...

https://www.homesteadingforum.org/t...peline-explosion-rocks-eastern-ukraine.15110/
About a gas line explosion in eastern Ukraine that happened at about 5:30 eastern.... a half hour after the gold trading shut down. Monday is a holiday...

I can only suspect some tension in the price of PMs.

Ben

 

[Rick]

Elkhound posted here...

https://www.homesteadingforum.org/t...peline-explosion-rocks-eastern-ukraine.15110/
About a gas line explosion in eastern Ukraine that happened at about 5:30 eastern.... a half hour after the gold trading shut down. Monday is a holiday...

I can only suspect some tension in the price of PMs.

Ben

Good point.
As prices are froze over the weekend (until Sunday afternoon as the foreign markets open before the US ones) that means until Sunday morning may be a good time to buy.
I just spent the price of a decent used car on Gold so I am not buying anymore soon.

 

[Neb]

Good point.
As prices are froze over the weekend (until Sunday afternoon as the foreign markets open before the US ones) that means until Sunday morning may be a good time to buy.
I just spent the price of a decent used car on Gold so I am not buying anymore soon.

Up almost $100 an oz as of seconds ago.

https://goldprice.org/goldprice.org
Ben

 

[angie_nrs]

Up almost $100 an oz as of seconds ago.

https://goldprice.org/goldprice.org
Ben

I'm not seeing that here......prices look pretty stable to me right now.
https://markets.businessinsider.com/commodities/gold-price

 

[Smalltimefarmer]

Silver went up $1 today

 

[Just Cliff]

Silver went up $1 today

I like that. I made over $1000 just today. Granted, I could lose it tomorrow.
I'm done buying PMs. I really don't have a choice since I got retired on disability. It takes everything I get just to keep on going. I did have the forethought of buying when I was making good money.

 

[Mountain trapper]

Gold is approaching $2000/oz. When it hits $2000 I'm going to sell 20-30 ounces and put the cash away. I have a feeling that we're going to need all the cash we can get. I'll still have plenty of gold and silver in case this disaster gets even worse.

 

[Neb]

Gold is approaching $2000/oz. When it hits $2000 I'm going to sell 20-30 ounces and put the cash away. I have a feeling that we're going to need all the cash we can get. I'll still have plenty of gold and silver in case this disaster gets even worse.

My money wants to sell of some of our gold but am pushing with keeping 10% of our investments in gold.

I did ask him about investing in the Ruble vut he is a fiduciary and is required to keep me out of the crazy tree. But that doesn't stop me from changing some dollars into Rubles. If it takes another big hit I may be getting crazy if Ukraine settles down.

Ben

 

[LadyLocust]

Y'all seeing the PM market?

 

[Neb]

Y'all seeing the PM market?

Yup check multiple times a day. Gold is off about 1% from a neat high. Silver is down much less.

But over all working in nice territory if one got in early enough.

Ben

 

[Tacitus]

Yep. Going up. I thought I had enough, but when I heard the Ruble was collapsing, and saw Russians lining up to withdraw worthless Rubles, I thought maybe you can't ever have enough, and now I hope it dips again back down towardd $1800 territory. Not holding my breath, though.

 

[lilmissy]

Gold is approaching $2000/oz. When it hits $2000 I'm going to sell 20-30 ounces and put the cash away. I have a feeling that we're going to need all the cash we can get. I'll still have plenty of gold and silver in case this disaster gets even worse.

Are you not afraid of the dollar crashing?

 

[Mountain trapper]

Are you not afraid of the dollar crashing?

I am, absolutely. Thats why I'm only selling a small amount of gold at this time.

 

[Tacitus]

I am, absolutely. Thats why I'm only selling a small amount of gold at this time.

I am soooooo looking forward to the day I can say "20-30 ounces" of gold is a "small amount of gold." Congrats to you sir, for having that.

 

[Mountain trapper]

I am soooooo looking forward to the day I can say "20-30 ounces" of gold is a "small amount of gold." Congrats to you sir, for having that.

I've only been saving up and buying gold and silver since I was a teenager, over 50 years. I also owned a gold placer mine at one time too.....

 

[Neb]

Are you not afraid of the dollar crashing?

Compared to what the Ruble, not crashing but declining, yes. The Fed Reserve is going to be attempting to pull off what has never been done previously to pull back all of the dollars in the system by raising rates. I am not holding my breathe on that.

Ben

 

[LadyLocust]

Exactly my thoughts!

Yep. Going up. I thought I had enough, but when I heard the Ruble was collapsing, and saw Russians lining up to withdraw worthless Rubles, I thought maybe you can't ever have enough, and now I hope it dips again back down towardd $1800 territory. Not holding my breath, though.

 

[Neb]

I am, absolutely. Thats why I'm only selling a small amount of gold at this time.

I just met with my money guy and made it clear that he can take profits from what he sees as a Ukraine bump and move into other vehicles but I don't want to go below 10% in gold.

My personal theory about 10% is complex but in short goes ...

If the dollar collapses and all savings turns to fumes, a recession would develop and prices would have to drop (less money chasing goods) I could still be able to manage.

For me prepping is not limited to beans and bullets but also making sure The Princess is not destitute after I pass.

Ben

 

[Supervisor42]

For me prepping is not limited to beans and bullets but also making sure The Princess is not destitute after I pass.

You and me both.
Y'all got me nervous so I had to look in on mine today.
All still there, and steadily cranking out dividends .
DW will be just fine if/when I kick the bucket.
I don't have any PMs. If I was gone, she would say: "it's a silver dollar, must be worth $1, here's a 20-dollar gold piece, give me $20".

 

[hiwall]

We have had very very high inflation for well over a year and the Federal Reserve has continued the money printing which they knew very well would make the inflation even worse. They are still doing the money printing. The Fed's talk about raising rates is 100% lies. First they would have to stop the money printing but obviously they are not.
Here is just the last year..........

 

[Supervisor42]

Gold is approaching $2000/oz. When it hits $2000 I'm going to sell 20-30 ounces and put the cash away. I have a feeling that we're going to need all the cash we can get. I'll still have plenty of gold and silver in case this disaster gets even worse.

Well it's heading there. Check out today's twitch .

 

[Neb]

Well it's heading there. Check out today's twitch .

Within striking distance of all time high.

Still trying to figure if the news about the ruble going on a gold standard.

If ruble tied to gold and going up in dollars then dollar going down relative to ruble????

Ben

 

[Supervisor42]

Within striking distance of all time high.

Still trying to figure if the news about the ruble going on a gold standard.

If ruble tied to gold and going up in dollars then dollar going down relative to ruble????

Ben

It won't matter. If a ruble is worth one-cent worth of gold, it is still worthless.
Remember the pics of the lines of people lining up making runs on the Russian banks?
That matters.
Ask Venezuela how well that turns out.

 

[Supervisor42]

It won't matter. If a ruble is worth one-cent worth of gold, it is still worthless.
Remember the pics of the lines of people lining up making runs on the Russian banks?
That matters.
Ask Venezuela how well that turns out.

Sorry, I overstated that.
For the last 8 months it was about 75 rubles to equal a dollar.
Today it takes 121 rubles to equal a dollar, so it is worth less than one cent:

 

[Neb]

Sorry, I overstated that.
For the last 8 months it was about 75 rubles to equal a dollar.
Today it takes 121 rubles to equal a dollar, so it is worth less than one cent:
View attachment 81646

It was 122 ruble to the penny when the gold market closed on Friday evening... just before the news came out.

If
China
Iran
Venezuala
N Korea

Go with the ruble to replace the dollar then exchange with those countries gold could be the intermediary medium. If other countries follow...

Russia has the 5th largest gold holdings with about 2300 tons.

If the ruble does is to become the reserve currency there would have to be enough to handle the worlds commerce...

Guess about $10T for everyday exchange. Gold would have to trade at more than $50,000 an oz.

That would mean a dollar would buy 4 cents worth of goods. Wars are fought over less.

I would to be a fly on the wall listening to what the fed reserve is planning.

It could be good time to be in gold. But if the US decides to counter with gold backed dollars there may be mandates to sell gold to the fed... at what rate?

Then what?

I may ride it up and liquidate half and move into other investments...

Just thinking out loud up here my crazy tree.

Ben

 

[Supervisor42]

Gold is approaching $2000/oz. When it hits $2000 I'm going to sell 20-30 ounces and put the cash away. I have a feeling that we're going to need all the cash we can get. I'll still have plenty of gold and silver in case this disaster gets even worse.

I think you hit your price-point today.

 

[Neb]

I think you hit your price-point today.

I will consider that on the way down.

While the dollar and yuan are tracking similarly the ruble is crazy!

Change from dollars to rubles on these graphs.

https://goldprice.org/goldprice.org
Ben