Just my 2¢. Do your own due diligence... caveat emptor.
Gold is how you buy large property (Not just land, but big-ticket items) in just about all trading economies.
Silver is how you buy food and gas in all trading economies. It’s just as important to not have a pocket full of gold as it is to have empty pockets in a crash.
That said, Did this place turn into SHTFplan.com while I wasn’t looking ? The lucrative “prepper industry” has been telling us the dollar is collapsing in 24 hours for the past literally 18 years.
I think a lot of people go broke speculating on silver, and I think gold as well.
A 21 trillion dollar debt pretty much assures eventual inflation.
I like “junk” silver. 1921 Morgan dollars have been reasonable lately. Or pre ‘65 Roosevelt dimes
Silver is better. Down 2/3 from it’s peak, and much more practical for most people use to buy, sell and trade.
Growth does not create systemic inflation. You will see spot inflation until supply catches up with demand; which it will. Inflation comes from money for nothing.
This year has been especially lackluster for gold. Its price has slumped 8%, to about $1,200 an ounce, and is off more than 35% from its high of $1,900 in 2011.
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That big move to $1900 was fueled by gold’s safe haven status.
Been a while since I’ve seen anyone hyping gold.
I was a gold bug - 40 years ago.
Rule No. 1 for investing in gold - if you can’t touch it, you don’t own it. At most you might own a piece of paper. And Office Depot sells paper cheaper.
Seems like only yesterday that we had FReepers extolling the virtues of gold as an investment, why it always tracks the price of a good men’s suit. Or something.
Guess they moved on to Bitcoin.
If gold was such a good investment the investors wouldn’t be trying to sell it.
10, maybe 15 years ago I was talking to a bank manager.
I was telling him there's going to be a world economic crash because the world was running on debt, everyone is in debt to each other, and the system can't continue.
He asked me when it was going to crash.
I said I don't know but it's inevitable.
I'm not predicting it will happen soon but I still believe the system of debt is unsustainable and will collapse at some point.
When? Who knows?
Gold, silver, name-the-commodity. Its market is manipulated.
In the age of derivatives, naked shorts, and microsecond trading, the laws of supply and demand NO LONGER APPLY.
The price is set in a arbitrary manner by someone(s) who are always one step ahead of you. There is NO PRICE DISCOVERY.
There is no way to win.
The globalistas have trounced American wages for decades. We are so far form recovering from that that wage inflation and ‘cost-push’ inflation is almost impossible. Deflation was more likely until Trump came along. Now workers are at least treading water.
Pardon what is probably a really naive question but why isn’t gold & silver super valuable commodities in a country like Venezuela where the economy is in the crapper?
The right time to buy gold is when its price is going down and when its price is going up.
Judging by the ads
Thanks for the heads up. I just turned some BTC into junk silver. I have no idea what either will do, but I should probably diversify a little.
These metals are cheap(ish) compared to what they have been trading for in recent months. Gold @ 1193, compared to what, $1250? A 5% off sale does not exactly make me want to rush out to Macy’s. I own phys gold. I also own (lots more) phys silver and I really like the metals, but I have to view them as decidedly non-magical commodities. No more, no less. Commodities that do not go bad. If I were to tell you that you should stack up several tons of wheat in your garage for some sort of deflationary or inflationary collapse you’d look at me funny.
I am neither bull nor bear on metals at present and have not been for at least 5 years.
Although the Au/Ag ratio is very high now, I have also come to believe that this ratio is just flaming nonsense. Just giving my opinion. That ratio is gargantuanly influenced by the relative values of Au/Ag in various coinages down through history (very long history I acknowledge) but NO coinage other than specialty issues contains either metal, the currencies have been completely demetalized. Some view that as alarming; I respect that view but do not hold it.
I believe gold is selling for a nominal amount over its production cost kinda sorta around $1000 an ounce. But I worry about silver because the production cost of silver is....zero. ALL silver other than from Hecla comes as a byproduct of zinc & tin mining. It rides along as a freebie. There is no such thing as a silver mine other than Hecla and a few small mines in Mexico. I do not believe these mines have the ability to affect the market much, if at all. Now for sure, my “zero” number is wrong because a tin miner or a zinc miner expects some amount of silver to ride along and values it accordingly. And it costs about a buck to mash silver into a coin or round or bar. Again, this is just my opinion but I think silver goes lower. And I have had this exact discussion with two dozen silver weasels, all the way up to screaming matches, who have attempted to sell me silver at $26 and $22 and $18 over the last 4 or so years.
here is my issue with silver
one-third or so of industrial demand is
from solar cells
per cell silver.
1990 1 gram
today 100mg
soon 65mg
the trend is always down
there is always the danger that
copper or aluminum could be made workable
Gold is gold.
Lead will get the necessary items every time.
Worth the weight is a reletave term...
When interest rates are close to zero there is no penalty for holding gold. Once rates rise enough to reward you for saving that will change.