ECON Gold and Silver news

[Doc1]

First of all, bookmark this link:

Gold Price

Where the world checks the gold price

goldprice.org

Secondly, as of a few minutes ago, Gold was up $34.66 and Silver was up $0.69. This follows on its great gains of Friday. Something is up, folks and it behooves you to pay attention.

Oh - before I forget - I was at Mississippi's largest gun show on Saturday and didn't see any vendors selling precious metals. This is highly unusual and I strongly suspect that this was in reaction to Friday's gains, as vendors decided to keep their PMs to see what they would do today.

Best
Doc

 

[Murt]

I saw that and was thinking the same ---what is going on

 

[billet]

And both, particularly silver, are grossly undervalued.

 

[Sacajawea]

Two articles this morning about gold on ZH. Central bank buying, for one. And countries repatriating their gold from the US too.

 

[Blacknarwhal]

That IS unusual. There's ALWAYS a PM dealer at a gun show. At LEAST one.

 

[doctor_fungcool]

Tnx for update Doc...

 

[phloydius]

 

[Coulter]

Seen a youtube yesterday talking about a lot of the BIG BOYS including some Senators are selling their stocks.

 

[Johnny Twoguns]

A lot of alt financial people now are saying silver could reach 3 digits without much trouble.
Bo Polny on Greg Hunter said gold should be as high as bitcoin; and he's right; bitcoin is nothing but computer digits, hot air, greed, speculation, and fear. Many think the hydro will go out or off; it will in places for sure; what good is the bitcoin then? Great for now but only if you cash out at the right time.
Dave Morgan sees a Great Depression but is always afraid to speculate on silver going about $60.
Nenner says, finally, that this is the start of A Great SUPER BULL RUN on pms, first time he ever said anything like this.
I don't pay a lot of attention to Bo any longer, but his latest on usawatchdog is worth watching.

Yankee Stacker on YT made an interesting statement. When asked a question about what he is going to do when silver reaches some number, not that high either, $60? $100? He replied "I'll be out of business before that happens." I think he was saying he couldn't and wouldn't come up with the finances to pay out when it got that high. Interesting comment I hadn't thought of before. I've thought of ways to barter of course, and also thought of trying to sell to the rich around here (there are lots) and cut out the middleman and their fees. But I hadn't thought of the coin shops shutting down.

 

[Johnny Twoguns]

Seen a youtube yesterday talking about a lot of the BIG BOYS including some Senators are selling their stocks.

Bo Polny made a compelling argument that billionaires are dumping their stocks because they are front running the collapse of the dollar, and pin pointed the sudden jump in bitcoin to that selling of stock. usawatchdog.com a few days ago.

 

[shane]

Rafi was showing how last week probably broke record for increase in open interest, over 40,000 contracts. Said it was the big boys cause ETF’s and premiums saw no increase. IOW’s, the retail market hasn’t clued into it, yet.

Also, made case for silver on the brink of great move, too.

Panic Early, Beat the Rush!
- Shane

 

[Wyominglarry]

More money is stolen from bitcoin accounts than all the silver mined in a year. Last article I read about the thief of bitcoin and crypto is in the ten of billions each year. As high as 100 billion, but it goes under reported to keep people from being afraid to buy into the crypto scams.

 

[Kathy in FL]

As I wrote on another thread, the ROI on our real estate far exceeds the ROI on our PMs. Everyone needs to pick what works for them. I will admit that the PMs have been less work, but I'm not ready to count on them either. I don't trust the gov's future plans.

 

[paul bunyan]

Forgive me Doc for the Drift:

Sheesh.... Bitcoin is only up 197% over the last year.

bitcoin is like silver and gold. If you don't hold it you don't own it. Bitcoin must be stored in a "cold wallet" device, right next to your gold and silver in your safe.

YMMV, save your anti bitcoin rants for some one else.

 

[BassMan]

More money is stolen from bitcoin accounts than all the silver mined in a year. Last article I read about the thief of bitcoin and crypto is in the ten of billions each year. As high as 100 billion, but it goes under reported to keep people from being afraid to buy into the crypto scams.

That is current technology. The thinking is that existing crypto is "toast" when quantum-computing matures. I never thought I would see it, but there are already small/expensive quantum computers.

Of course, ANYTHING sensitive is at risk when quantum-computing is available. Banks, records...
...a real-life version of the movie "Sneakers": Sneakers (1992 film) - Wikipedia

 

[bracketquant]

First of all, bookmark this link:

Gold Price

Where the world checks the gold price

goldprice.org

Secondly, as of a few minutes ago, Gold was up $34.66 and Silver was up $0.69. This follows on its great gains of Friday. Something is up, folks and it behooves you to pay attention.

Oh - before I forget - I was at Mississippi's largest gun show on Saturday and didn't see any vendors selling precious metals. This is highly unusual and I strongly suspect that this was in reaction to Friday's gains, as vendors decided to keep their PMs to see what they would do today.

Best
Doc

Any knuckledraggers at the gun show selling Bitcoin (now 66K+, which has left gold and silver in the dust)?

 

[psychgirl]

I saw that and was thinking the same ---what is going on

Me as well, and as a matter of fact I just asked on the oil thread of that is causing the spike in gold.

I check gold prices several times a week.

Gold futures say it’s at 2125$

 

[psychgirl]

First of all, bookmark this link:

Gold Price

Where the world checks the gold price

goldprice.org

Secondly, as of a few minutes ago, Gold was up $34.66 and Silver was up $0.69. This follows on its great gains of Friday. Something is up, folks and it behooves you to pay attention.

Oh - before I forget - I was at Mississippi's largest gun show on Saturday and didn't see any vendors selling precious metals. This is highly unusual and I strongly suspect that this was in reaction to Friday's gains, as vendors decided to keep their PMs to see what they would do today.

Best
Doc

Thank you! I added that one to check first.

 

[Southside]

As I wrote on another thread, the ROI on our real estate far exceeds the ROI on our PMs. Everyone needs to pick what works for them. I will admit that the PMs have been less work, but I'm not ready to count on them either. I don't trust the gov's future plans.

Bought my house in 1995. Has gone up 120% since.
Gold since 1995 ($385.00) now, $2,100.00, up 445%.
Silver since 1995 ($5.20), now $23.77, up 357%

The #'s are significantly better if you purchased in 1999-2001.

 

[Hfcomms]

Next round of the banking crisis is imminent.

 

[Southside]

Next round of the banking crisis is imminent.

Probably a reasonable bet.

 

[Reasonable Rascal]

More money is stolen from bitcoin accounts than all the silver mined in a year. Last article I read about the thief of bitcoin and crypto is in the ten of billions each year. As high as 100 billion, but it goes under reported to keep people from being afraid to buy into the crypto scams.

Personally know a vendor from the gun shows who was scammed out of his Bitcoin. I know he invests in hard metal and had some land down south he sold for enough to buy a Mercedes Transit outright for cash. He said he was a Bitcoin millionaire, but that might have been part of the scam.

He somehow got linked up with a (reputed) young hardbody who was interested in him as a fellow, and who manage money accounts like BC. The photo she sent to his phone was enough to make a young man drool. But when he drove out to NY to meet her in person last fall she had a funeral to go that day. Seems the password for his BC account was changed also. There is no fool like an old fool.

RR

 

[rhughe13]

I saw one of the preppers on youtube last week say there is supposed to be a money issue on March 11.

 

[Kathy in FL]

Bought my house in 1995. Has gone up 120% since.
Gold since 1995 ($385.00) now, $2,100.00, up 445%.
Silver since 1995 ($5.20), now $23.77, up 357%

The #'s are significantly better if you purchased in 1999-2001.

All of our real estate was purchased between 1988 and 2008 except for a very few purchased in 2015 and the recent land purchases and secondary BOL purchase. If you are talking about our income producing real estate that shifts to 1996 and 2008 with the few 2015 direct from the bank purchases. The income producing real estate is very far north of 100% ROI -- the numbers are insane and likely few would believe it. We don't have debt on any of the properties and haven't for most of them for quite a while which is part of the reason for the high ROI. We also bought when most people were selling and banks were begging people to get stuff off their books. It is like with PMs, you buy on the dip. We just stopped buying even though we could have kept on because there is only so much you can take care of the correct way and we take our responsibilities to our tenants seriously regardless of their socio-economic level.

But that is because we found what worked/works for us. We made a lot of sacrifices to get where we are and we are still figuring out how "in" we are still going to stay with real estate or are we going to sell some, take the profit, and reinvest it in some other way but capital gains are a freakin' nightmare so tax planning and estate planning is a must. We're blessed and we know it and try and steward things the right way. On the other hand God may laugh at our plans and set us on a different path. You never know. You just have to have faith and trust and continue to do the best you can with what you are given to take care of.

 

[Blacknarwhal]

I saw one of the preppers on youtube last week say there is supposed to be a money issue on March 11.

Something about the Fed is pulling a loan program, if I remember right.

 

[Southside]

All of our real estate was purchased between 1988 and 2008 except for a very few purchased in 2015 and the recent land purchases and secondary BOL purchase. If you are talking about our income producing real estate that shifts to 1996 and 2008 with the few 2015 direct from the bank purchases. The income producing real estate is very far north of 100% ROI -- the numbers are insane and likely few would believe it. We don't have debt on any of the properties and haven't for most of them for quite a while which is part of the reason for the high ROI. We also bought when most people were selling and banks were begging people to get stuff off their books. It is like with PMs, you buy on the dip. We just stopped buying even though we could have kept on because there is only so much you can take care of the correct way and we take our responsibilities to our tenants seriously regardless of their socio-economic level.

But that is because we found what worked/works for us. We made a lot of sacrifices to get where we are and we are still figuring out how "in" we are still going to stay with real estate or are we going to sell some, take the profit, and reinvest it in some other way but capital gains are a freakin' nightmare so tax planning and estate planning is a must. We're blessed and we know it and try and steward things the right way. On the other hand God may laugh at our plans and set us on a different path. You never know. You just have to have faith and trust and continue to do the best you can with what you are given to take care of.

One thing I remember from early in my accounting career.
Rarely do people go broke owning and renting out real estate. Let someone else pay your bills.

 

[Thunderdragon]

One thing I remember from early in my accounting career.
Rarely do people go broke owning and renting out real estate. Let someone else pay your bills.

Even in arizona....in 2008-2010...houses were being sold for $20,000 in Phoenix. They are probably worth 400,000 today..same houses..based on me tracking a few of them. One thing I did notice during this time frame - rents never realy went down. They at worst stayed flat. So based on what I have seen at least..rents rarely go down. while expenses do always go up..if you kind of know what you are doing and do not over pay for property...hard to go wrong with buying and renting out.

 

[rhughe13]

Something about the Fed is pulling a loan program, if I remember right.

You are correct. I've seen so much doomer stuff on money and everythings else, it's difficult to keep track. They mentioned gold and silver making a big leap over next week. So looks like it's happening.

 

[Hfcomms]

Something about the Fed is pulling a loan program, if I remember right.

The Bank Term Funding Facility is ending in March. The Fed will keep on making loans up to the end date so whenever the year is up from when the Fed made the loan to the bank then the bank has to buy back the bond at par. Banks were able to dump bonds that they held to make redemptions and received a hundred cents on the dollar even if those bonds were under water from the higher interest rates and now the piper has to be paid.

A lot of bank failures and consolidations coming and there will only be a handful of big banks left. The big fish eat the little fish until only the bigs are left. A lot easier for the Fed to institute the CBDC when the time comes if they only have to work with a handful of big banks.

Feel the noose tightening??

 

[Johnny Twoguns]

Even in arizona....in 2008-2010...houses were being sold for $20,000 in Phoenix. They are probably worth 400,000 today..same houses..based on me tracking a few of them. One thing I did notice during this time frame - rents never realy went down. They at worst stayed flat. So based on what I have seen at least..rents rarely go down. while expenses do always go up..if you kind of know what you are doing and do not over pay for property...hard to go wrong with buying and renting out.

A lot of people lost everything including real estate during the Stock Market crash of 1929 and the long long Great Depression after. The majority included people who did not participate in the Stock Market. It was a different world back then. People dealt in real money (gold/silver), fiat wasn't as powerful. Not that many Americans were in the Stock Market.

People like David Morgan and many others are not only saying the USA is in the Great Depression now, but this time it will be a Global Great Depression.

Let the buyers and sellers and renters beware. We are now in a place none of us have been in before.

 

[Kathy in FL]

The Bank Term Funding Facility is ending in March. The Fed will keep on making loans up to the end date so whenever the year is up from when the Fed made the loan to the bank then the bank has to buy back the bond at par. Banks were able to dump bonds that they held to make redemptions and received a hundred cents on the dollar even if those bonds were under water from the higher interest rates and now the piper has to be paid.

A lot of bank failures and consolidations coming and there will only be a handful of big banks left. The big fish eat the little fish until only the bigs are left. A lot easier for the Fed to institute the CBDC when the time comes if they only have to work with a handful of big banks.

Feel the noose tightening??

We are concerned about how the digital dollar is going to impact everything. It isn't an if, it is a when. We are like everyone else as we wade through what is coming. That is one of the reasons why we got out of debt when we did even though we could have leveraged and purchased more properties for higher incomes.

But it isn't just the physical fiat that the changeover is going to effect. I have a very negative feeling that the plays have already been written and they are just waiting on the right players to hit the field. PMs will maintain some intrinsic value, but the question is how much of that value is going to be accessible for those who invested in it. If you don't think they are going to squeeze PMs the same way they are currently squeezing "cash" then someone hasn't been paying attention to the team owners.

 

[Kathy in FL]

A lot of people lost everything including real estate during the Stock Market crash of 1929 and the long long Great Depression after. The majority included people who did not participate in the Stock Market. It was a different world back then. People dealt in real money (gold/silver), fiat wasn't as powerful. Not that many Americans were in the Stock Market.

People like David Morgan and many others are not only saying the USA is in the Great Depression now, but this time it will be a Global Great Depression.

Let the buyers and sellers and renters beware. We are now in a place none of us have been in before.

A lot of Neveau-riche came out of the Depression. People who were barely "middle class" but still had money would buy from people that only had things to sell. As the economy improved they had the assets and/or contacts to invest in up and coming markets and technologies and after WW2 those same families became the movers and shakers, many of whom continue to operate behind the scenes today.

 

[bracketquant]

I saw one of the preppers on youtube last week say there is supposed to be a money issue on March 11.

Counting from last week to 3/11, that's TWO WEEKS out.

Plus, it was on the internet, so it must be true! It has to happen!

 

[Johnny Twoguns]

Counting from last week to 3/11, that's TWO WEEKS out.

Plus, it was on the internet, so it must be true! It has to happen!

It has to do with a change in Fed support and regulations in the banking industry, which is already in a state of collapse and bankruptcy.

 

[Southside]

It has to do with a change in Fed support and regulations in the banking industry, which is already in a state of collapse and bankruptcy.

Welcome to the board, Johnny

 

[ReneeT]

Appreciate the info, Doc; thank you!

 

[Hfcomms]

If you don't think they are going to squeeze PMs the same way they are currently squeezing "cash" then someone hasn't been paying attention to the team owners.

They have been squeezing them for years with the naked short paper contracts to suppress real price discovery. Right now there is a nice arbitrage going on between east and west with physical gold and silver fetching quite a bit more per ounce on the Shanghai gold exchange so they are taking advantage of the prices in London and New York and traders are making a nice profit.

Eventually the pricing scheme fails as the LBMA and COMEX will be unable to deliver and they become irrelevant just like sooner or later the U.S. dollar will become irrelevant as de-dollarization picks up steam.

Lots of things changing in the world and the days of the U.S. being able to dictate terms is ending.

 

[Thunderdragon]

A lot of people lost everything including real estate during the Stock Market crash of 1929 and the long long Great Depression after. The majority included people who did not participate in the Stock Market. It was a different world back then. People dealt in real money (gold/silver), fiat wasn't as powerful. Not that many Americans were in the Stock Market.

People like David Morgan and many others are not only saying the USA is in the Great Depression now, but this time it will be a Global Great Depression.

Let the buyers and sellers and renters beware. We are now in a place none of us have been in before.

I generally agree…but i dont see everything impolding until the usa can no longer finance their massive deficits. when that happens it is lights out. in the meantime politicians do not care at all and will just hand out $$$. until they cant. .

 

[Kathy in FL]

They have been squeezing them for years with the naked short paper contracts to suppress real price discovery. Right now there is a nice arbitrage going on between east and west with physical gold and silver fetching quite a bit more per ounce on the Shanghai gold exchange so they are taking advantage of the prices in London and New York and traders are making a nice profit.

Eventually the pricing scheme fails as the LBMA and COMEX will be unable to deliver and they become irrelevant just like sooner or later the U.S. dollar will become irrelevant as de-dollarization picks up steam.

Lots of things changing in the world and the days of the U.S. being able to dictate terms is ending.

And they'll likely continue to push things just like with cash so there is a limit on conversion, deposits, and how and when you can spend them. There are already IRS rules on paying employees in PMs. Not barking at your Hfcomms. Not at all. I've just been in the hot seat a few times about cash since many of our tenants pay their rent that way. The problems of getting that cash into the system so it can be used to pay bills are ridiculous. With that experience I can see how the feds would use the banks and IRS to constrict people's ability to use their acquired PMs to sustain them and pay their bills. For something to have value you have people that eventually have to get it into a system that they can use to buy and sell with. PMs are just as subject to that as fiat currency ... or anything else of barter-ability. Eventually someone has to be able to "deposit" them to pay their municipal/federal bills with. If the feds are against it, that means if the states want to operate outside the restriction they will have to set up their own banking system and I'm honestly not sure how that will go. There were a lot of banking crashes in the 1800's and early 1900's.

We've got a mess on our hands and that's a fact. There is no panacea.

 

[lanningro]

Personally know a vendor from the gun shows who was scammed out of his Bitcoin. I know he invests in hard metal and had some land down south he sold for enough to buy a Mercedes Transit outright for cash. He said he was a Bitcoin millionaire, but that might have been part of the scam.

He somehow got linked up with a (reputed) young hardbody who was interested in him as a fellow, and who manage money accounts like BC. The photo she sent to his phone was enough to make a young man drool. But when he drove out to NY to meet her in person last fall she had a funeral to go that day. Seems the password for his BC account was changed also. There is no fool like an old fool.

RR

Yeah, I played Sugar Daddy a couple of times. Its fun to take a couple of them to a company party etc. One of my buddies use to rent a couple or three to take to Christmas parties.

Revenge of us nerds.