Silver casting grain from Thunderbird Supply in Gallup New Mexico https://www.thunderbirdsupply.com/sterling-silver-casting-grain. There are lots of casting grain vendors
Posted on 11/24/2022 4:32:24 AM PST by FarCenter
TOKYO — One of the worst-kept secrets in global central banking is the extent to which Chinese officials are swapping dollars for gold.
Governor Yi Gang’s team at the People’s Bank of China isn’t admitting as much. The PBOC doesn’t have to, though, given the clear policy trajectory Chinese leader Xi Jinping has pursued in recent years: internationalizing of the yuan as the top rival to the dollar.
Xi’s position hasn’t changed so much as other governments are catching on that trust is waning in the global reserve currency and an alternative to the dollar is badly needed.
Particularly as the US national debt zooms past $30 trillion, inflation is at 40-year highs, the Federal Reserve is pushing the biggest economy into recession and a band of firebrand Republicans threatens to play politics with Washington’s debt limit again.
Not surprisingly, central banks that once hoarded dollars are buying gold at the fastest clip on record. In the July-September quarter, central banks more than quadrupled gold purchases from a year earlier — adding nearly a net 400 tonnes to already sizable stockpiles.
These figures from the World Gold Council are no aberration. The year-to-date flurry of gold buying already well surpasses any 12-month period since 1967. This has traders guessing who the real whales are here.
Punters doing the math can confirm that about 90 tonnes worth of purchases can be traced to Turkey (31.2 tonnes), Uzbekistan (26.1 tonnes), India (17.5 tonnes) and other developing nations. The other 300 tonnes, it’s widely assumed, bear Chinese fingerprints.
I suggest buying some silver.
The premiums are sky high though...
Even buffalo rounds have a high premium now.
Last I bought was Nadir Refinery bars from Turkey
10oz bars, they were 214.00USD each.
Best I can find now are Italpreziosi Italian 10 oz Silver Cast Bars at 240.00ea or a box of 50 for 12,000USD at bullionexchanges.com
Two concealment gun benches full off silver coins with a decent smattering of gold coins. Couple of credit unions I deal with did not have safe deposit boxes big enough to hold the amount I had nor was I willing to pay the monthly rate for them.
I bought silver in 2008 $34 an ounce, when Obama was elected. Been bag holder for 14 years. My rationale for buying silver itself and some mining companies then stemmed from a belief that Obama’s fiscal policies would be inflationary. Subsequent my purchase, the CCE raised the minimal trading requirements to flush out retail.
On a side note, all of my investments against inflation have failed. I initially thought crypto would be a hedge because it wasn’t tethered to promiscuous printing of currencies by the government. Obviously, that was a horrible investment as well
Had the good fortune of visiting a gold mine some years ago. One of life’s interesting experiences. At the time, gold mining was struggling due to low gold prices.
I bought one hundred ounces of pre-64 dimes for barter.
Cheap whiskey, toilet paper, freeze dried food, beans, and rice, rounds out the reserve
The 300 tons would be worth around 16 billion dollars.
Silver casting grain from Thunderbird Supply in Gallup New Mexico https://www.thunderbirdsupply.com/sterling-silver-casting-grain. There are lots of casting grain vendors
I started buying in 2017. I got some boxes of Eagles for around 9500.00 the same 500 oz box is now at 19740.00 at Kitco.
Got some boxes of Britannias and Maple leafs a couple of months ago for a good bit less than they are now.
I don’t think I will ever exchange my silver for fiat, those days are over IMO.
The paper speculation on silver has something like 200:1 paper claims to physical.....the premiums (aside from handling and storage) reflects the demand compared to the manipulated spot "price."
I bought silver at around $12 for “rounds” and kept buying up to about $15/troy oz.
Also “junk silver.”
A recommendation: keep all your nickels. They are actually 25% nickel. Pennies have been zinc for a long time, and it’s probably not worth the effort to separate them from actual copper pennies, but nickels contain real nickel.
As inflation takes off, nickels will be worth much more than their “.05 dollar value” so the govt will start minting them from zinc as well.
So keep your nickels, they will hold their value, unlike fiat dollars, or copper or zinc coins.
The French were doing this in Vietnam era too. We damn near ran out. That’s why S.E. Asian armed forces were made to use MPC’s.
Kitco quotes NY spot today bid 21.58, ask 21.68. Not much of a premium.
Never put precious metals on a safe deposit box. A government decree can freeze them. You cannot open the box without representative of the bank there who will confiscate the metals. That’s exactly how it happened in the 1930s. You’re literally better off to bury it in the backyard. The era of safe deposit boxes is over.
Central banks that once hoarded dollars are buying gold at the fastest clip.
Looks like it may be a long term event to many things unstable right now.
And yet the price of gold remains stable. Really? Lies, lies and more lies, manipulation, corruption.
-—Kitco quotes NY spot today bid 21.58, ask 21.68. Not much of a premium.-—
What he meant by “premium” is not the spot bid/ask spread you quoted. It is the price to actually buy a silver coin versus the spot prices. Look at the actual prices to buy a 1 ounce silver coin. The cheapest is around $39. That’s a pretty hefty premium.
https://www.apmex.com/category/22100/silver-american-eagle-coins-all
Yep, they have manipulated everything. The only investment you and I get to make is paying inflated taxes due to inflation. lolol.
Need to invest in ammunition. Then, you can give it to whoever wants it in sufficient quantities to make it very costly to get it in so many ways. They won’t get it all and they will suffer in the process. I can’t think of anything else in which to invest.
Their purchases have driven gold to record highs against the US Dollar. In other words, they are spending more and more USDs to purchase the same amount of gold. They are literally eating USD inflation.
Thanks, morons!
Just to keep things in perspective...
The USD was at a 20 year high just two months ago.
The Chinese Yuan is at a 10 year low against the USD.
My Yuan chart only goes back 10 years, so the Yuan low may be longer than ten years.
43,000
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.