ECON Gold Up over $30.00 Silver over $30.00 [OP from July 2024]

Doc1

Has No Life - Lives on TB
Immediately below is my favorite site to check spot Au and Ag prices. I recommend bookmarking it. Of course you shouldn't rely on only one site, but have multiple redundancies.


Below are today's closing prices, as posted by AuEagle, above.

Friday Close
Gold $2722.00
Silver $33.66
GSR 80.8/1

Pay close attention to Silver's close. Many technical traders have claimed (for a long time) that there is no resistance for Silver after it closed above $32.50, until it hits $50. I am not a technical trader, but I will note that so many people believe this that I suspect it will be reflected in the market.

Ordinarily, after such a high close, I would expect the manipulators to slam it. That might not happen in this case. People might consider adding to their stack this weekend, before the Monday opening. I'm certainly not guaranteeing it, but it could be your last chance before we see considerably higher prices.

In any case, I think it's a pretty safe bet, because Silver looks like it's poised to take off. If you order more Ag over the weekend and the manipulators slam it on Monday, I think you'll still be in good shape. It probably only means you'll have to sit on it for a few days or weeks before it again exceeds your price point.

There's no guarantees in this life, but this looks like a pretty good set up.

Best
Doc
 
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shane

Has No Life - Lives on TB
Why silver is so cheap here with
so much catching up yet to do…

IMG_6266.jpeg

Panic Early, Beat the Rush!
- Shane
 

Doc1

Has No Life - Lives on TB
This market is getting a little crazy. In truth, I don't know any PM investors - including myself - who really want to see high vertical spikes; slow(ish) and steady gains are preferable. The high vertical spikes almost always result in some sort of whiplash. Don't misunderstand me: I certainly appreciate the higher prices, but will expect some severe corrections. Nothing - including the metals - ever goes straight up, even in a strong bull market. The charts will usually look like a rising saw tooth pattern, with a series of ups and downs.

Another thing to be aware of is that precious metals are often (Not always, chirren. Just often) a bell-weather for greater economic dislocations beneath the surface. Now, I'm not even going to hazard a guess as to what these might be, because there are just so many of them: Our obscene debt and the even more obscene unfunded liabilities, the rise of BRICS as a challenge to the West, the massive derivative market, FDIC funding shortfalls, increased bank and corporate failures, different countries rapidly selling off US Treasuries, a precipitous fall of the US Dollar, etc, etc.

I do know that tomorrow I'm pulling cash out of my (modest) accounts and only leaving the minimum required balances 'til I see how the coming week shakes out. I recommend that everyone here stay light on their toes, too.

Best
Doc
 

Hfcomms

EN66iq
Gold and it’s red headed step child silver are telegraphing something and unfortunately too many people will only be able to decipher the morse code and get the message when it is too late to do anything about it. The metals are the monetary canary in the coal mine and are not only picking up on U.S. electoral and financial troubles but on a global scale the BRIC’S are meeting this week and some major policy initiatives are coming.
 

Southside

Has No Life - Lives on TB
Gold and it’s red headed step child silver are telegraphing something and unfortunately too many people will only be able to decipher the morse code and get the message when it is too late to do anything about it. The metals are the monetary canary in the coal mine and are not only picking up on U.S. electoral and financial troubles but on a global scale the BRIC’S are meeting this week and some major policy initiatives are coming.
And, it's not just here. Gold is making new highs in just about every currency.
Currencies are starting their inevitable march to zero that was prophisized back in Y2K.
 

Hfcomms

EN66iq
And, it's not just here. Gold is making new highs in just about every currency.
Currencies are starting their inevitable march to zero that was prophisized back in Y2K.

It’s really been making new highs around the world the last year or two. We haven’t seen it here due to the ‘strong’ dollar and naked shorts. Within the next few months and especially if/and war spreads and our election is a mess I would expect $100 moves in gold and $2 to $4 moves in silver violently both up and down but mainly up.

The dollar is dying and the metals are sniffing it out.
 

Southside

Has No Life - Lives on TB
It’s really been making new highs around the world the last year or two. We haven’t seen it here due to the ‘strong’ dollar and naked shorts. Within the next few months and especially if/and war spreads and our election is a mess I would expect $100 moves in gold and $2 to $4 moves in silver violently both up and down but mainly up.

The dollar is dying and the metals are sniffing it out.
The "best" performing asset since 2000.
There is a reason for that.
 

Kathy in FL

Administrator
_______________
It’s really been making new highs around the world the last year or two. We haven’t seen it here due to the ‘strong’ dollar and naked shorts. Within the next few months and especially if/and war spreads and our election is a mess I would expect $100 moves in gold and $2 to $4 moves in silver violently both up and down but mainly up.

The dollar is dying and the metals are sniffing it out.

People just need to remember if/when the dollar "dies" it will cut demand for metals way back due to alot of FRNs falling out of the pool of investors/users. There will be a huge push to replace the dollar with something more accessible to the vast majority of people. I suspect that will be something digital. That doesn't leave metals in the driving seat, and depending on the successful substitution could very well tank metals. Does that mean you shouldn't persue putting metals in a basket for the future? Nope. But you need to do it realistically with as many potential outcomes planned for as possible.
 

Hacker

Computer Hacking Pirate
People just need to remember if/when the dollar "dies" it will cut demand for metals way back due to alot of FRNs falling out of the pool of investors/users. There will be a huge push to replace the dollar with something more accessible to the vast majority of people. I suspect that will be something digital. That doesn't leave metals in the driving seat, and depending on the successful substitution could very well tank metals. Does that mean you shouldn't persue putting metals in a basket for the future? Nope. But you need to do it realistically with as many potential outcomes planned for as possible.
Hmmm ... seems to me that, when the dollar dies, our substitute currency will be in greater demand (not less). Further, the (so-called) push to acquire a 'dollar substitute' may well see the ushering in of yet more silver (or gold).

IMO, when the People observe the absolute devastation that our junk currency (the demise of the dollar) wreaks upon the world, they may turn to gold/silver as our new currency.

Most people don't realize this: gold/silver can be digitized based on block-chain, and can therefore be used in electronic transactions.

Beware. IMO, the run-up of gold/silver (especially silver) may well be the precipitating event that brings about the crash of the dollar.
 

Kathy in FL

Administrator
_______________
Hmmm ... seems to me that, when the dollar dies, our substitute currency will be in greater demand (not less). Further, the (so-called) push to acquire a 'dollar substitute' may well see the ushering in of yet more silver (or gold).

IMO, when the People observe the absolute devastation that our junk currency (the demise of the dollar) wreaks upon the world, they may turn to gold/silver as our new currency.

Most people don't realize this: gold/silver can be digitized based on block-chain, and can therefore be used in electronic transactions.

Beware. IMO, the run-up of gold/silver (especially silver) may well be the precipitating event that brings about the crash of the dollar.

Not enough people will hold metals to make it a true substitute currency. And if they do go digital, it is very possible even probable that they will create a lot of laws to make it illegal on a wide scale ... not confiscation. They don't need to confiscate it if you can't spend it on things like taxes, most doctor's services and medication, etc. I understand that some states are giving it due consideration, but even Louisiana is now accepting digital currency for certain state expenses.

Gonna be a race to see what takes precedent and I don't see it being metals. Not because metals don't have their good points, but because the vast majority of people don't hold metals, or at least enough metals to pay things like taxes and insurance with on a year to year basis.
 

Reasonable Rascal

Veteran Member
Metals will be the go to underground economy. You won't be spending them on Starbucks and frimfram.

Only a fool would think to try to pay taxes, etc with silver at face value, because you know know full well the PTB aren't going to go by adjusted spot. Those are for the doc, the mechanic, the farmer, etc. Despite all the digitization of the world of commerce not everything can be traced. People need to look at how folks in war economies transacted, and in places like Hungary and Zimbabwe and the Wiemar Republic.

RR
 
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Hacker

Computer Hacking Pirate
Not enough people will hold metals to make it a true substitute currency. And if they do go digital, it is very possible even probable that they will create a lot of laws to make it illegal on a wide scale ... not confiscation. They don't need to confiscate it if you can't spend it on things like taxes, most doctor's services and medication, etc. I understand that some states are giving it due consideration, but even Louisiana is now accepting digital currency for certain state expenses.

Gonna be a race to see what takes precedent and I don't see it being metals. Not because metals don't have their good points, but because the vast majority of people don't hold metals, or at least enough metals to pay things like taxes and insurance with on a year to year basis.
Wow. You've got a narrow, dogmatic perspective. Let's try again...

Real money is gold/silver. Fiat is pure paper. When the populous loses confidence in paper, they will seek out real money, as that is all they will trust. Taken a step further, they will trade for real money, so that they (too) have money to spend.

Gold/silver can be made to work in e-commerce, secured via block chain. I know that such projects are presently in the works.

In my view, crypto currencies are vulnerable (for rejection) because when the Internet/grid goes down, no one will want to use cryptos either.

In a collapse of the dollar scenario, the entire structure of our government/private commerce will necessarily change. Your notion that people will still pay 'taxes' in the way we do now is just nonsensical.

Mind you, this is just one scenario I'm outlining. There maybe other scenarios. However, in our present world, it's looking increasingly likely that we'll see the dollar's demise as the world's reserve currency; and when that happens, our world will change in ways we can't even imagine.

By the way, have you read my books? If you want an alternate line of thought, I suggest you do. ;)
 

West

Senior
Metals will be got the underground economy. You won't be spending them on Starbucks and frimfram.

Only a fool would think to try to pay taxes, etc with silver at face value, because you know know full well the PTB aren't going to go by adjusted spot. Those are for the doc, the mechanic, the farmer, etc. Despite all the digitization of the world of commerce not everything can be traced. People need to look at how folks in war economies transacted, and in places like Hungary and Zimbabwe and the Wiemar Republic.

RR
Old news....also I recall reading in the fine print of the oklahoma legal tender law that passed. US. Minted eagles AG and AU will be traded in exchanges for taxes due at spot price and or contract that both parties agree too.

Old news...



December 21, 2023・Key Gold Headlines

Bills Filed in Oklahoma and Missouri Would Eliminate Capital Gains Tax on the Sale of Gold and Silver​

Bills filed in the Oklahoma and Missouri legislatures for the 2024 legislative session would eliminate state capital gains taxes on the sale of gold and silver. The legislation would also take other steps to treat gold and silver as money instead of as commodities.
In Missouri, Rep Doug Richey filed HB1867 on Dec. 11. Rep. Bill Hardwick filed HB1955 on Dec. 15. The bills are companions to SB735 filed in the Senate by Sen. William Eigel earlier this month.
In Oklahoma, Sen. Shane Jett filed SB1507 and Sen. Nathan Dahm is running SB1508.
The enactment of any of these bills would eliminate state capital gains taxes on the sale and exchange of gold and silver bullion.
Both of these states are already among the 42 that do not levy sales taxes on gold and silver bullion.
Exempting the sale of gold and silver bullion from taxes lowers the investment cost of precious metals. It also takes a step toward treating gold and silver as money instead of commodities. Taxes on precious metal bullion erect barriers to using gold and silver as money by raising transaction costs.
Imagine if you asked a grocery clerk to break a $5 bill and he charged you a 35-cent tax. Silly, right? After all, you were only exchanging one form of money for another. But that’s essentially what a sales tax on gold and silver bullion does. By eliminating this tax on the exchange of gold and silver, Missouri and Oklahoma would treat specie as money instead of a commodity. This represents a small step toward reestablishing gold and silver as legal tender and breaking down the Fed’s monopoly on money.
“We ought not to tax money – and that’s a good idea. It makes no sense to tax money,” former U.S. Rep. Ron Paul said during testimony in support of an Arizona bill that repealed capital gains taxes on gold and silver in that state. “Paper is not money, it’s fraud,” he continued.
The impact of enacting this legislation will go beyond mere tax policy. During an event after his Senate committee testimony, Paul pointed out that it’s really about the size and scope of government.
“If you’re for less government, you want sound money. The people who want big government, they don’t want sound money. They want to deceive you and commit fraud. They want to print the money. They want a monopoly. They want to get you conditioned, as our schools have conditioned us, to the point where deficits don’t matter.”
GOLD AND SILVER AS LEGAL TENDER
Under provisions in the Missouri bill, gold and silver in physical or electronic form would be accepted as legal tender and would be receivable in payment of all debts contracted for in the state of Missouri. The state would be required to accept gold and silver for the payment of public debts. Private debts could be settled in gold and silver at the parties’ discretion.
Practically speaking, this would allow Missourians to use gold or silver coins as money rather than just as mere investment vehicles. In effect, it would put gold and silver on the same footing as Federal Reserve notes.
Oklahoma took a similar step in 2014. Utah and Arkansas also consider gold and silver legal tender.
The proposed Missouri law also includes provisions authorizing the state to invest in gold or silver “greater than or equal to one percent of all state funds” and to expressly bar any state agency, department, or political subdivision from seizing gold or silver bullion.
BACKGROUND
The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in the US are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the US Treasury — very few of which have gold or silver in them.
The Federal Reserve destroys this constitutional monetary system by creating a monopoly based on its fiat currency. Without the backing of gold or silver, the central bank can easily create money out of thin air. This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system. Without the Fed, the US government wouldn’t be able to maintain all of its unconstitutional wars and programs. The Federal Reserve is the engine that drives the most powerful government in the history of the world.
Tax repeals knock down one of the tax barriers that hinder the use of gold and silver as money, and could also begin the process of abolishing the Federal Reserve’s fiat money system by attacking it from the bottom up – pulling the rug out from under it by working to make its functions irrelevant at the state and local levels, and setting the stage to undermine the Federal Reserve monopoly by introducing competition into the monetary system.
In a paper presented at the Mises Institute, Constitutional tender expert Professor William Greene said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.
“Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes). As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”
Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people.


More at link....
 

Donna_in_OK

Veteran Member
I can pay my property taxes in either gold or silver. IDK if I can with digital. Saying that, should something happen to the grid, whether locally or nationally, I'm not gonna trust my land with the hope I can pay with something digital.

Metals have been worth their weight since ancient times and will remain so [along with a LOT of other things]. Paper is worth the weight of, well... paper.

But, please never put all of your eggs in any one basket.

Oh, edited to add. I have a friend that is Venezuelean, and bought her safe passage out of the country during the middle of the night with metals. Doubt they would take digital in a situation like that, but YMMV.
 
Good evening, I’ve been a spectator to this website for a while and I have a question from a younger person asking those that know more. I have been buying silver for some time and made a nice nest egg that I’d like to pass on to my kids when I leave at a ripe old age. I am informed on what’s going on in the world yet if silver spikes I do not want to sell. My gut tells me to hold no matter how high spot goes. Am I naive for wanting to hold my horde? Could anyone share some much greatful knowledge/wisdom.

Thanks, Sterling like silver.
 

West

Senior
Good evening, I’ve been a spectator to this website for a while and I have a question from a younger person asking those that know more. I have been buying silver for some time and made a nice nest egg that I’d like to pass on to my kids when I leave at a ripe old age. I am informed on what’s going on in the world yet if silver spikes I do not want to sell. My gut tells me to hold no matter how high spot goes. Am I naive for wanting to hold my horde? Could anyone share some much greatful knowledge/wisdom.

Thanks, Sterling like silver.

IF, see big IF.....

AG goes to moon, become the bank. Make spending silver not from your core stack, but from the interest of people with assets who had to borrow a few ounces from your stack. Then spend those extra silver coins you got from interest after you get paid back in PMs to pay your bills.

:D
 
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