Posted on 11/03/2024 5:15:56 AM PST by delta7
Yesterday’s reports from a few sources stated less than 1 percent of US citizens own physical Gold, even fewer Silver. What happens when just five or ten percent of our population wake up and start moving the trillions of paper equities into physical Gold and Silver?
Last warning, the train is leaving the station.
Majority———😴😴😴😴😴😴
I will add the GDP of the Brics now exceeds the G7, and they are ALL selling off USD’s and buying physical Gold and Silver. Stay away from paper contracts, ETF’s, and do what the world’s Central Banks are doing.
Majority———😴😴😴😴😴😴
————-
Exactly how the world’s Wealth is being transferred to the East. Gold is being revalued, most simply can not grasp the fact Gold is not rising, but the value of the USD is declining- rapidly.
A major milestone was achieved a few weeks ago when Gold hit all time highs in the Swiss Franc- the world’s most stable currency.
Don’t get caught holding an ever decreasing asset, paper currency.
I myself prefer silver. It’s cheaper, and what the Founding Fathers wanted for money according to the First Coinage Act of 1792.
From what I understand, they're buying gold with both hands.The last time I bought physical gold, I did it mail order from one of the online bullion dealers. After my Echeck cleared my bank, then cleared their bank, and the shipment finally arrived, the spot price of gold had already climbed substantially beyond what I paid for the gold and the premium fee. In other words, I made money on it before I even received it. Which, didn't take but about three weeks. The price of gold rose that fast.
although it may take a long time, history has proven that to be true.
Bkmk
Me too. Easier to purchase with.
PS - I’ve also held SPDR Gold shares for awhile now, and made a bunch on it. I’m also out of the big banks. I would recommend anyone else get out too. Move your money into a well established local bank or credit union. If you check them out, you might find there are many local institutions that are very solid and highly rated.
Unfortunately, I think that's about all the population that will wake up. The rest of them will just wake up one morning and discover that the money they thought they had is worth nothing.
I bought a couple of shares of a precious metal ETF last week to get on the train. You say stay away from ETFs though. Did I make a mistake?
Oops. I read the ETF section of the article after posting the question. It clearly states to stay away from ETFs. I guess I better sell the ETF shares I bought.
take anything in this article with a HUGE grain of salt ... look at the publisher ...
I missed that. Thanks for pointing it out.
There are other Gold short squeeze stores from last April, Last March, August of 2022, etc.
Seems Gold is always in the midst of a short squeeze.
ETFS are fine except if you’re gonna buy and hold forever ... They are very liquid and you can exit immediately any time the market is open. Try that with the metal LOL!!!
The main reason to buy precious metals is security. If you happen to make a profit, that’s serendipity.
For those uninitiated in finance, a "short squeeze" refers to a situation where an individual or legal entity sells an asset in the future without owning it first, in the hope of buying it back later at a lower price in order to make a profit.
No it isn't.
Shorting is buying on margin. That means the investor borrows x number of whatever it is for a set period of time and buys more of it to cover short interest. The guess is that the price is going to decline and the difference will more than make up for the interest costs.
A short squeeze results from a price rise which leads to loss, and when there are a lot of shorts in a given time window, the demand for covering the short interest drives the price even higher.
Back when the Hunt brothers cornered the silver market, beginning at a post-Vietnam price bubble, they financed their purchases by using futures on their accumulated silver. The buyers of the contracts already believed the price had to decline (I think the Hunts began this when silver was still in single digits). IOW, the Hunts were financing their corner by having the shorts pay for their purchase of more silver.
This kept the price going higher and continued until the shorts were broke.
Various gov'ts and other large longterm silver investors knew that the price of silver was historically high and in a bubble of all bubbles, and started dumping millions of ounces.
To raise money, the Hunts issued certificates of deposit backed by silver, and it became obvious to everyone what the Hunts were broke. The bubble was over.
Silver Thursday was when the bubble popped. The silver exchange didn't close at the normal end of the business day, knowing that if it did, it would never reopen.
At their peak, the Hunts owned about one third of the available silver supply.
There is a serious alternative. Mutual funds invested in solely gold mining stocks. They own gold still in the ground.
The price lags the daily up and down but follows the trend upward. There is no storage problem with gold in the ground. It can’t be stolen from under your bed. There is no insurance fee. The miners are very large companies that know what they are doing. They are much safer than any of the entities hawking physical gold on TV
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.