Posted on 10/13/2023 9:20:18 AM PDT by Attention Surplus Disorder
Nice recovery in gold. It had lost about $100 over the last few weeks, to early October. Pretty much got it all back.
War is good for business. - Ferengi Rules of Acquisition............
silver +0.85
Peace is good for business. Another Rule of Acquisition.
Yeah...look at the few-day charts of HII Huntington Ingalls and NOC Northrup & LMT Lockheed.
I’m invested in precious metals, too.
Brass + Lead = Ammo.
Good. My earrings are worth more now.
I remember on a TV show in the 60s someone asked the price of gold (because they found some) and it was $35. That always stuck in my head.
With decades of inflation, it should be closer to $3000 / oz.
It was fixed at $35 for many years, after Roosevelt flipped it from $20.67 in 1933. I don’t believe you could dig an ounce of gold out of the ground for $35 even back then. I first started buying silver (ignoring pulling as-found silver coins out of circ in 1965) it was $3-4-5 in 2000, 2001 or so. It struck me that such a price was well below the cost of production. As I’ve said, it was like buying a slice of balogna for a penny. You could not raise the cow, feed and care for the cow, slaughter the cow, package the beef, then bring it to market for 1 cent. I had people pounding the table at me to buy $275. gold under the same distorted market conditions, and didn’t act.
That’s why, when people say gold rose 56,227% over the last hundred years and is ready to do so again, they’re talking crazy talk. It was the result of government edict.
boof?
Peace is better for business. -Reality.
Yes, that is the sound of a giant stock market move, or alternatively, the sound of a 350 pound woman sitting down next to you on a bus.
Ammo may be a Good investment.
Wow. That’s not a normal move. Silver is up a bunch as well.
WTI crude oil is up about $4 a barrel to $87.02 at the moment.
A gold standard just fixes the price of gold. The price of everything else would go up or down depending on the price of gold. If the price of gold went up, the value of the dollar would also go up and we would have deflation in the price of everything else. If the price of gold went down, the value of the dollar would also go down and we would have inflation in the price of everything else.
Now consider the fact that China and Russia are two of the three largest gold producing countries in the world and can flood or cut off the gold market anytime they want to cause gold prices to crash or skyrocket. I really don't think it would be a good idea to give China and Russia that much control over the value of US currency.
Thanks for the info; interesting.
It is something that is actually useful and we make a lot of it.
Gold vanishes and we can get by. If wheat goes away..... well, have you ever seen the movie "No Blade of Grass"?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.