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

[Bacpacker]

There many events to prepare for. Only in some of them will people refuse gold as being worthless.

Diversity in prepping is not a bad thing.

Do as much in as many areas as relate to your situation and you can afford

 

[lonewolf]

There many events to prepare for. Only in some of them will people refuse gold as being worthless.

Diversity in prepping is not a bad thing.

I'm a societal collapse prepper and survivalist.

 

[angie_nrs]

I'm so tempted to pull the trigger on silver today.

 

[Supervisor42]

I'm so tempted to pull the trigger on silver today.

At 20 bux and change, it looks pretty dang tasty!

 

[angie_nrs]

Oh, how I love those shiny things! I would much rather have shiny coins or bars than jewelry. I know, I'm a freak.

With Ukraine robbing us of billions per day now (it seems), those dollars are getting more useless by the day. It's just not sustainable and those coins are going to be backing a new currency sooner rather than later. I want to be ready......
Just when I think I'm all topped off on PM's.......a good deal comes along.

 

[Supervisor42]

Oh, how I love those shiny things! I would much rather have shiny coins or bars than jewelry. I know, I'm a freak.

With Ukraine robbing us of billions per day now (it seems), those dollars are getting more useless by the day. It's just not sustainable and those coins are going to be backing a new currency sooner rather than later. I want to be ready......
Just when I think I'm all topped off on PM's.......a good deal comes along.

But they don't have pretty colors! (sarcasm)
Would these get your heart pumping?

^^^^^ U.S. silver coins.

 

[angie_nrs]

Yup, those are what I'm talking about. They sound really good too!

 

[angie_nrs]

I just ran across this video. It's by Mike Maloney - The Hidden Secrets of Money. I've only watched this first episode, but I think there are 10 episodes all together. It has an informercial vibe at the beginning, but it's not an informercial, so stick with it. The video isn't very long and he really does a nice job of pulling everything together.
Anyone NOT interested in PM's should take a peek at it. It might change your mind. If nothing else, it'll explain why some of us are bullish on PM's.


At about the 18:30 minute mark, they talk about inflation. It makes sense about the cash all going to other countries right now being the cause of lower than expected inflation. However, when that cash all comes back.....that is when it's going to get ugly. With other countries currently stating that they are no longer interested in the American dollar, I think that time might be very close. I'd stock up on whatever you can right now while you still can. The prices of things today may look like a huge bargain very soon. If there was ever a time to go on a spending spree.....now's it.

 

[angie_nrs]

Hmmm.....I wonder if Fort Knox might be in the spotlight soon?

 

[Supervisor42]

Hmmm.....I wonder if Fort Knox might be in the spotlight soon?
View attachment 105718View attachment 105717

Well, I won't get into 'nickel & dimes' (pun) but if anyone payed attention to my post about silver being "tasty" on 02-27, they would be sitting on a %10 gain today:

For us conservative investors, that is a YEAR of gains! .

 

[angie_nrs]

As far as Fort Knox is concerned.....I wonder what would truly happen if it was audited and then widely proclaimed that the gold was gone? How would that even happen? Who exactly would do the audit? Heraldo?

I think the only way we'll truly know is if someone like MTG, DJT, or Matt Gaetz went in with a camera crew and documented as they walked in. If the gold was indeed gone, would they even be allowed to get in? Who makes that decision? Is the fall of the banks the first domino that forces an audit of the gold?

I suspect that most of the gold is already gone. Where? I don't really know, but if it was there then why all the secrecy about it? Wouldn't the 'powers that be' want everyone to be assured that it is there? Wouldn't that help to ease market stability and confidence in the dollar, even if the dollar isn't truly backed by gold anymore? With faith in banks being questioned right now, wouldn't it be the perfect time for an audit to try and calm those fears, even though I realize that these two things aren't directly related.

I'm glad I have a tiny bit in my diversification plan. I suspect that if the gold was discovered to be gone, the price of PM's would skyrocket. I doubt I will ever find out for sure in my lifetime what is (and what isn't) in Fort Knox. However, the way things are going I guess I shouldn't be surprised one way or the other.

With the recent bank failure scare, the potential for hyperinflation right at our doorstep, and global unrest, I'm thinking the price of PM's will continue to increase. I think there may be a discounted buy in the near future. When the housing market bubble implodes and drags the entire market down with it (including PM's) there may be another window in which to get in at a discount.

 

[Supervisor42]

With the recent bank failure scare, the potential for hyperinflation right at our doorstep, and global unrest, I'm thinking the price of PM's will continue to increase. I think there may be a discounted buy in the near future. When the housing market bubble implodes and drags the entire market down with it (including PM's) there may be another window in which to get in at a discount.

Gold is right at $2K now and it ain't headed down .
Silver seems to have stabilized at $22 and change.

 

[angie_nrs]

Gold is right at $2K now and it ain't headed down .
Silver seems to have stabilized at $22 and change.

Yeah, they've been headed upwards the last few weeks or so. I think people are nervous and want to invest in a sure thing. My PM portfolio is happy. But, as we all know......things can change. PM's are still not at their all time high....but getting close.

My bet is that for the most part PM's will rise as our dollar continues to fail. However, the ride up will still have some ups and downs. I'm thinking there'll be perhaps one more decent down before another pop up. If that's not the case, that's OK. I think I'm all set. But I always keep an eye on it and won't turn down a good bargain if the opportunity presents itself.

 

[angie_nrs]

There has been a bit of a pull back on silver prices the past week or so. I can again buy my favorite round for $29.02 but with my last order in early March it was $23.73. For most of April, those rounds were priced above $30.

With the Debt Ceiling talks in the 'news' now, I'm sure the volitility in the market won't calm down. I wouldn't be surprised to see PM's gain traction again.

I was looking into copper as an investment. I wasn't sold on the copper rounds but I found 5 pound copper bars. I thought that was interesing. My gut said to get some since the price seemed reasonable. I'm sure even copper will hold value better than the dollar, so I went ahead and added some of that to my collection.

 

[Neb]

Just watched this video




Jim Rickards explaining economic policy and two scenarios were gold can go to 7 or 40k per ounce.

Ben

 

[Mountain trapper]

I don't think we'll ever see any of the astronomical prices for gold as some are predicting, at least not in our lifetimes. But then when I was buying gold for around $250/oz, I never thought it would reach $2000 either. In my opinion gold is too high right now to invest in. However, if you think it will double or triple, then gold is a bargain. For my money, I think silver is a better buy right now at $22.82.
I believe everyone should hold at least 25% of their net worth in PM's. Of course this is just my opinion which is worth less nothing.

 

[Patchouli]

I like your opinion, @Mountain trapper and thank you to @Neb for posting that video.

 

[angie_nrs]

Bidenomics.......Inflation and deflation at the same time. Yep, sounds about right.

The inflation is hitting the middle class hard with increased costs of food, fuel, and everything else. They have to sell their stuff to put more $$ towards regular things that cost way more than they used to. That is unsustainable and it's going to bust wide open. We're not there yet though, at least not in my area. Homes and land are still selling for wayyy over asking price here. I hate that b/c it raises my taxes.....as if we aren't all taxed to death already!

I'll be waiting for deals when folks decide to sell. I've gotten some deals recently, but those were due to either estate sales secondary to deaths OR idiots that took on too much debt for stupid stuff and now have to sell other things to pay the monthly payments. It probably won't be long before they have to sell their 'stupid' stuff at a huge discount just to pay the house bills. Some people will never learn......

It looks like PM's have stayed relatively steady the last several months.

 

[Mountain trapper]

Bidenomics.......Inflation and deflation at the same time. Yep, sounds about right.

The inflation is hitting the middle class hard with increased costs of food, fuel, and everything else. They have to sell their stuff to put more $$ towards regular things that cost way more than they used to. That is unsustainable and it's going to bust wide open. We're not there yet though, at least not in my area. Homes and land are still selling for wayyy over asking price here. I hate that b/c it raises my taxes.....as if we aren't all taxed to death already!

I'll be waiting for deals when folks decide to sell. I've gotten some deals recently, but those were due to either estate sales secondary to deaths OR idiots that took on too much debt for stupid stuff and now have to sell other things to pay the monthly payments. It probably won't be long before they have to sell their 'stupid' stuff at a huge discount just to pay the house bills. Some people will never learn......

It looks like PM's have stayed relatively steady the last several months.

I look around here and it looks like everyone is doing very well financially. It seems that everyone has a new or newer RV, at least 2 ATV's and or side by sides, new pickup trucks, and new boats. Real estate prices are ridiculously high, but there always seems to be a buyer, and very little is priced under a million $$. From what I can see it appears that the economy is doing very well. The high price of fuel hasn't stopped anyone from driving their RVs, many of which are from out of state. Everywhere I go there are Help Wanted signs. It sure doesn't look anything like the doom and gloom that I keep hearing about on TV. I guess that all the new trucks, SUVs, RVs, ATV's, boats, etc are financed. With the amount of jobs available, it seems that people can afford to finance these things.
If there is any kind of crash coming, I wouldn't expect to see it unless Joebama gets reelected, or any Democrat/communist.

 

[Patchouli]

As for real estate, I read/heard that corporations are buying up the homes in neighborhoods, like mine, before an average American can get to it. The price of rentals is BAD, I would know. They renovate and put it on the market for $2500 a month. That’s a home built in the 70s, renting for twice what an average mortgage would be, maybe.
I can’t afford much. I have no debt. Just trying to keep from sinking. No car payments, no credit card payments.
My local Walmart would show you how well families are doing. Some people look poor. Some have nice rides. This area is exploding in jobs, corporations moving to Texas, not enough housing, schools or additions can’t get built fast enough.
And I believe things could go sour really fast.

 

[Magus]

I keep saying it, but nobody believes me, if it was made by the US government, it is subject to confiscation because it is their property. If you go for regular coins, make sure they are Canadian Dollars or Mexican Pesos. I think Germany still uses a 50% silver Mark. if you got junk with no numismatic or collector value, melt it down into 1oz bars while you can and mix in a little electronics salvage so it is no longer coin grade.

What are steel pennies worth?

 

[Mountain trapper]

I keep saying it, but nobody believes me, if it was made by the US government, it is subject to confiscation because it is their property. If you go for regular coins, make sure they are Canadian Dollars or Mexican Pesos. I think Germany still uses a 50% silver Mark. if you got junk with no numismatic or collector value, melt it down into 1oz bars while you can and mix in a little electronics salvage so it is no longer coin grade.

What are steel pennies worth?

How would the government even know you have silver in any form? I've been buying and selling gold and silver for over 40 years. Never had a record of any sales or purchases.

 

[Neb]

Cut n paste from Jim Rickards email.

"

Here’s the spot gold chart for this morning…​

Source: Kitco​

“Let’s start with Friday’s light blue line. We saw nice price movement from about $2,040 to the close of $2,071. “Then we go into Sunday’s market (the red line),” Sean says. “Spot gold spiked to nearly $2,150, a tremendous $100 move over little more than a day.​

"
It was interesting watching gold price last night.

Ben

 

[Supervisor42]

Cut n paste from Jim Rickards email.

"

Here’s the spot gold chart for this morning…​

​

Source: Kitco​

“Let’s start with Friday’s light blue line. We saw nice price movement from about $2,040 to the close of $2,071. “Then we go into Sunday’s market (the red line),” Sean says. “Spot gold spiked to nearly $2,150, a tremendous $100 move over little more than a day.​

"
It was interesting watching gold price last night.

Ben

Yes. And if @angie_nrs followed my bad 'non-advice' on silver back in February, she is up a little over 20% in just 10-months.
Silver at $24.89 today.
If anybody has been playing along, they will notice that PM's nicely counterbalance inflation.

 

[Neb]

Yes...
Silver at $24.89 today.
If anybody has been playing along, they will notice that PM's nicely counterbalance inflation.

Not quite yet.

There are bankers and governments that have kept a cap on PM prices. Particularly preventing gold from ending a month above $2k. That ended the end of November.

That overnight spike at $2150/oz showed a new top for now.

Ben

 

[Supervisor42]

On topic: Silver, where it was when I pinged it, and where we are today:

 

[LadyLocust]

Goldprice.org has both. You can change the duration - 1 day, 6 months, a year, whatever. I did 7 days to catch month's end.
Ben - interesting on the gold not ending a month on high.

 

[Caribou]

I don't think we'll ever see any of the astronomical prices for gold as some are predicting, at least not in our lifetimes. But then when I was buying gold for around $250/oz, I never thought it would reach $2000 either. In my opinion gold is too high right now to invest in. However, if you think it will double or triple, then gold is a bargain. For my money, I think silver is a better buy right now at $22.82.
I believe everyone should hold at least 25% of their net worth in PM's. Of course this is just my opinion which is worth less nothing.

One theory is that gold never changes that much. The dollar fluctuates. When you were spending $250/oz for gold that same $250 could buy X. That same X today would cost you around $2,000. When the Dollar is no longer the reserve currency, good luck finding gold or silver anywhere near today's prices. PM's are a hedge, You never make anything, you prevent a loss.

 

[Supervisor42]

One theory is that gold never changes that much. The dollar fluctuates. When you were spending $250/oz for gold that same $250 could buy X. That same X today would cost you around $2,000. When the Dollar is no longer the reserve currency, good luck finding gold or silver anywhere near today's prices. PM's are a hedge, You never make anything, you prevent a loss.

This is correct. They do not pay a dividend, but....
If we had 20% inflation this year and you bought silver in February, you have not suffered a loss, unlike keeping your money in a CD that pays only pays 2%.

 

[Neb]

View attachment 120803View attachment 120802
Goldprice.org has both. You can change the duration - 1 day, 6 months, a year, whatever. I did 7 days to catch month's end.
Ben - interesting on the gold not ending a month on high.

If you switch to a longer time frame the values plotted are month end.

Ben