Posted on 04/12/2024 7:53:57 AM PDT by Kaiser8408a
Hi Ho Silver (and Gold)!
Gold futures prices are soaring and are at $2,422.00. Gold futures prices are up 19.61% over the past year.
Silver futures prices are also soaring and are at $29.64. Silver futures prices are up 16.40% over the past year.
Bitcoin is almost at $70,000 and is up 133.44% over the past year.
Returning to gold, we are seeing another gold breakout, like the breakout in 2008.
Even central banks are loading up on gold, silver, and cryptos. Why? Primarily fear of US reckless budgets and exploding debts/deficits (don’t listen to Biden talk about how “he” reduced deficits and debt (both have risen to dangerous levels under he inattentive eyes).
However, calming the jangled nerves of pension funds is that the S&P 500 stock market index is up 26.04% over the past year.
Of course, the S&P 500 is not sustainable given that it has been driven by excessive spending by the Biden Adminstration coupled with still massive monetary stimulus from The Federal Reserve.
In summary, gold, silver and cryptos are rising on FEAR! Of Biden, Congress and The Fed.
(Excerpt) Read more at confoundedinterest.net ...
Metals have broken out so aggressively, the European and US central banks are no longer able to suppress them by shorting futures.
Currency is being exposed.
BRICS+ nations have been buying physical gold like there’s no tomorrow. Tomorrow? Who knows?
Is this the beginning of the “dollar taking a dump”?
crazy, it has been a long time since I saw a dollar up day in silver. must have been at least 12 years.
I will probably sell 1000 oz if it gets back up to 49.67
The Biden Administration been debasing the dollar with insane spending and unimaginable deficits, resulting in high inflation—
and the Fed has been debasing it even more with massive irresponsible money printing!
“Is this the beginning of the ‘dollar taking a dump’”?
Well put. You see the problem. The feds talk about the lack of concern that should be given to inflation but the surge in gold is contributory. When gold surges, prices go up. When money is printed with no worth value, it cuts the dollar in half every time. Thus while the dollar is now required to represent 50 cents, the $1 is what is required to cover the cost of anything tht was 50 cents.
So the new 50 cents is the $1 or in time the $1.50 to the $2...and the process continues until enough can’t find the expanded dollar and they can’t buy anything. It’s a long process, but there is a dark cloud at the end of the tunnel. There is no light up there because there are only two things that come out of it in depreciation, the dollar and the ability of those that can find one.
wy69
Thank you for explaining——sadly, this is not headed in a good direction and stopping this (as days go bye) becomes harder and harder.
that dollar is now worth only 80 cents (and dropping)!!
Copper’s been on a tear and I’ve been enjoying the ride with FCX and TGB.
Could never figure out how to buy it without getting ripped off. I suspect Lear Finacial, Birch Gold, Gold Line, etc. are all ripoffs.
A more reasonable fee is 2-3% over the spot price (if you shop around from a reputable dealer, which most bigger dealers are). Costco, for example charges about 2 1/2 over spot.
Let’s go Brandon.
Buy American Gold Eagles through Apmex.com, Monumentmetals.com, HeroBullion.com
Compare prices and deals
Bidenflation is 18%, gold going up 19% doesn’t seem like much of a breakout to me.
Time will tell.
FR Gold & Silver Ping list!
+1
Pretty wild swing so far today. Back down to ~2368
Interesting way to word the collapse of the value of the dollar.
In my opinion, this is the biggest case of “emperor has no clothes” exposure yet. With respect to the Dollar (the most virtuous whore in the whorehouse), it is being shown for the vapor-paper that it is.
In due time, all paper currencies are doomed to collapse. They’ll be replaced by CBDCs, which is big-gov’s wet dream. Gov’ts will be able to monitor and control everybody as digital crypto displaces paper.
The antidote is precious metal. Gov’ts may outlaw the use of it, call it all in; but I think people who have some will be able to engage in black market economics (at great risk, I’m pretty sure).
CBDC's would be devastating to personal freedoms, yet it probably will occur--sooner rather than later if the democrats win this fall. CBDC's are perfect for an authoritarian, socialist, leviathan government (which we appear we are headed for).
It would allow the government to monitor and follow absolutely every possible move you make--personal, professional, political, financial, and otherwise.
It must be resisted in the strongest possible terms.
You could add: "reward or punish" to that statement.
Thanks for your brilliant post (you agreed w/ me!).
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