Gold and silver prices....woo hoo

a reply to: SchrodingersRat

Well, looking past my ''narrow view of things, your statements I thought were a given and that it would not be necessary to go into them as you have. While I agree that stocks, for most individuals can only own a very small share of any corporation via their stocks, it's my view that the same goes for how much insurance the amount of gold would be for most people who want to do that. A couple of trinkets, a bar or two, just how much would any of us poorer people would be able to have any security with the small amount of gold we might have on hand.

A couple of thousand invested in gold and even if it went up fifty percent or a hundred percent, what would that extra grand or two do to help anyone save themselves from a crashing future. Not much is my guess.

a reply to: BingoMcGoof

I guess it depends on when you invested that couple thousand. I started buying at $5 an ounce. I see it as a part of an insurance policy.

a reply to: visitedbythem

Well, a couple of grand fifteen years ago so at today's prices that would get you about 570% return so respects to you Visitied, well done.

originally posted by: visitedbythem
a reply to: BingoMcGoof

I guess it depends on when you invested that couple thousand. I started buying at $5 an ounce. I see it as a part of an insurance policy.

Same.

About 20 years ago it became fairly obvious to me that thing were going south.

Now buyers are rushing in for security I’ll be selling some.

Now I’ll have no debt and a nice cushion heading into what’s coming.

It didn’t seem like much of a gamble to me.

a reply to: BingoMcGoof

Gold 5 years ago was $1000/Oz. Today it's $2300/Oz

Why are you trashing the gold and silver markets? It's what has been used for thousands of years as currency.
Are you secretly AOC using your "economics" degree? Or does the bar you tend at not take gold as payment?

The reason for the uptick in precious metals is for superconductors, CPU's, GPU's, circuit boards, transistors and capacitors.

We're at the ground floor of a new industrial revolution due to automation.

The Warren Buffets and Michael Burry's are heavily investing in Nvidia, Google and Microsoft.

If you're hedging your bets with gold in silver for fears of an economic collapse, you're better off investing in seeds.

What are you gonna do? Whip out a bar of gold and start shaving away at it until you have enough strands to buy a chicken? The chicken salesman is going to want ammo or milk.

The precious metals are for the millions of robots that corporations will buy for labor and for the millions of robots people will buy for... fun.

a reply to: Asher47

There are actually idiots on this earth that do not believe that , Gold and Silver are not real money while the Banks and hedge funds and Governments are buying as much as they can get while the paper promise money is going up in smoke because of over printing. While at the same time various States are enacting laws to make it money again. All the while various power players have been trying to keep the price of the PM's down to make it look like paper is the real deal. It is just getting hotter as any country at war will only be able to buy stuff with Gold and Silver because when someone looses a war their paper money is worthless and all assets become the property of the winners.

I worked at one of the only palladium mines in North America for 14 years.
With Canadas plan to go all electric vehicles by 2030 it sent the market crashing.
Got laid off a few months ago.and the mine plans on shutting its doors in 2 years.
Palladium is not the way to go.
Gold and silver, absolutely.

a reply to: RickinVa

Yes. And I'm glad you've brought this in into the foray.

Still...looking ahead. We need to realize gold, silver, Bitcoin, stock, bonds....the real commodity in a seriously destroyed society isn't $$$. It's food. And there won't be much of that to buy.

Guess you could just look how pretty it looks....when you won't or can't cash them in.

Sobering thought. I knew a millionaire who kept hundreds of thousands of $$ in $1 single bills to get away on.

When pressed...he said there would be no place where bonds, silver, gold COULD BE CASHED IN.

So the drawers of $1 bills were his hedge. And he has $$ in Swiss banks as well.....and in a crisis, expects nothing can be retrieved from them.

originally posted by: Asher47
a reply to: BingoMcGoof

Gold 5 years ago was $1000/Oz. Today it's $2300/Oz

Why are you trashing the gold and silver markets? It's what has been used for thousands of years as currency.
Are you secretly AOC using your "economics" degree? Or does the bar you tend at not take gold as payment?

Because he clearly missed out and doesn't understand the gold and silver markets at all.

It's people like him that allow people like me to make a lot of $$.

Keep it up, Bingo - you go girl!

originally posted by: RickinVa

originally posted by: BingoMcGoof
Could it be that all those people who managed to get out of Truth Social with their shirts before it goes to ten bucks a share see bad stuff on the horizon when all those who got stuck with Truth Social shares riot and blame everybody else?

This has absolutely NOTHING to do with Trump.... stay on the subject.

But trump was selling GOLD shoes, right?

I think krugerrands or pandas might be a better investment. But if there is an economic crash who will be buying precious metal and how can you buy Gold during the crash with worthless money.

I'm putting some of my savings in LEAD and cold steel... kwim....

originally posted by: Asher47
a reply to: BingoMcGoof

Gold 5 years ago was $1000/Oz. Today it's $2300/Oz

Why are you trashing the gold and silver markets? It's what has been used for thousands of years as currency.
Are you secretly AOC using your "economics" degree? Or does the bar you tend at not take gold as payment?

I had a lot of anxiety when I bought gold at $1000 an ounce. I thought that was too high. Same with Bitcoin. I had to buy some at 1000.

originally posted by: lilzazz

originally posted by: RickinVa

originally posted by: BingoMcGoof
Could it be that all those people who managed to get out of Truth Social with their shirts before it goes to ten bucks a share see bad stuff on the horizon when all those who got stuck with Truth Social shares riot and blame everybody else?

This has absolutely NOTHING to do with Trump.... stay on the subject.

But trump was selling GOLD shoes, right?

....

Those, I am told, are preferrable to the lead shoes being peddled by another President.

Gold, silver, lead and even cold steel are good. I have a cold steel collection

Maybe this is why gold is increasing.
UNTHINKABLE: US Threatens Chinese Banks As China DUMPS More Dollars For Gold

a reply to: BingoMcGoof

We learn this stuff FEMA, DHS etc.... most folks are oblivious. Do you have any idea how heavy gold is?

You ain't running with nowhere to cash it. Run fast. Those neighbors of yours are eying you...

a reply to: RickinVa

Back again, thnx. I must add to my downer post above: I do have commodities. Gold, Silver, stocks. All in a portfolio that isn't worth nothing when the lights go out.

a reply to: mysterioustranger
You always try to dissuade gold ownership with such strange excuses . How can one not run with gold?? I can grab 50,000 of gold with like a small handful. I bet your going to tell us all now that in a world without electricity, supermarkets, institutions or plumbing water who will want our gold?? But you always ignore the response that those realities have been the human condition for tens of thousands of years. Back when the major human civilizations oand random trading posts have always accepted gold??

The end of an Era is not the end of time or the world. Some peoples just have a super dramatic opinion of how an end of a way of life will unfold. Truth is most communities continue to behave the same for a short period even as services and amenities disappear one by one. Just the communities shrink faster as a lack of commitments or consistency in life no longer keep one grounded. The market keeps on functioning as independent traders keep supplying anyone who will buy with anything to sell. Gold always seems to count for something, although many will just attempt to steal it after institutions fall. Better keep those rifles loaded with a partner watching out of sight.

I don't understand why the assumption is that the historically most monetized hard asset in all of human history would become worthless in a human world where conditions have returned to a state such as when gold was traded and used as money through all of history. Where is the foundation in this belief??

a reply to: mysterioustranger

They were using gold and silver before any lights went on .Banks fear silver more than gold as it is the basic every day form of exchange , there is enough of it to be worthwhile for general trade, and not enough to be inflationary. It was trading in Shanghi at 30 US dollars before they stopped the market at the capped price. In Lybia it's trading for 35 US dollars,Someone knows something. Probably the Comex calling a Force Majour , as the paper trade is way oversubscribed.

a reply to: rickymouse

Gold is simply a safe place to park money to avoid inflation. However the problem is the market has consistently outpaced gold for the past 100 years. You can consistently get higher returns with a diversified stock portfolio. But the people that sell gold try to scare you to buy. This has been true throughout history fear drives up thr price of gold.

Hate to put a downer on people rubbing their hands with glee with the rising price of gold....

It sure is a safe place to put money for the future, but ultimately with the geo-political stuff happening world wide it's a pre-cursor for world war..... and what kind of future are we all hoping for?

How gold is affected by war.

During World War II, the price of gold more than doubled.
During the Vietnam War, the price of gold increased by more than 50%.
During the Gulf War, the price of gold increased by more than 20%.
During the Iraq War, the price of gold increased by more than 50%.

Unless you're the ultimate 'scary b*st*rd'. You're only a custodian.