DryCreek
Veteran Member
Never lease out your PMs! They'll just use them to short the market.
ECON Hey Gang! Silver is Over $21!
- Thread starter Sub-Zero
- Start date
"40 acres and a house and barn, and mule" were in some places worth $20 in 1870
Good river bottom farm land could be had where my grandfather farmed in the 1930s for $5 an acre. But he always said he never had 5 cents much less 5 dollars.
For some odd reason (guess what reason), most inflation calculators only go back to 1913. Wonder if the creation of the Fed had anything to do with that?? Naaah, couldn't be.
Anyway, if you want to go further back, try The Inflation Calculator
Good river bottom farm land could be had where my grandfather farmed in the 1930s for $5 an acre. But he always said he never had 5 cents much less 5 dollars.
For some odd reason (guess what reason), most inflation calculators only go back to 1913. Wonder if the creation of the Fed had anything to do with that?? Naaah, couldn't be.
Anyway, if you want to go further back, try The Inflation Calculator
That's the one I used to get the quoted numbers. As far as I'm concerned any inflation calculator today using official inflation numbers isn't really going to be accurate. As far back as the 1980s they changed the way inflation was calculated, to the point that any inflation number before the 1980s can't really be compared 1:1 to any inflation number after the 1980s (and certainly not to today's numbers). At one time I did the calculations and found that for about 75 years (from the 1800s to the early 1900s) there was virtually no inflation, but after 1913 the same 75 year period produced a huge loss of purchasing power for the same dollar -- in a nutshell that's what the Federal Reserve has done for (to) us.
I kind of doubt that whole $20 for 40 acres-plus thing was very widespread for very long. I also have my doubts about the story of the German bellhop who was tipped a gold coin and later bought the hotel with the coin. You can cherry pick stories to prove a point, but I think you're very probably talking about the extreme ends of the data ranges with those two stories. Or not. I could be wrong.
CaryC
Has No Life - Lives on TB
You're over thinking it.
During restoration Carpet Baggers from the north, would come south. Would pay pennies on the dollar, for a farm (which mostly in those days was 40 acres (all of my family purchased 40 acres from the Federal government, not state) to a bank that owned the lien on the property.
There was no "money" in the south, not even at banks. Confederate Dollars were worthless, use it to start fires. Banks couldn't meet the requirements set up by the Federal Government. So any bank, or land liens held by private citizens would sell it for anything to get some money out of the property.
And while paying for the land with a single gold ounce was an over simplification. Before the war when people who owned 40 acres, a house, barn and a couple of mules and horses was considered middle class, the property was bought for 200.00. BTW during the Great Depression land around here was 2.00 an acre. So how many acres would a 20.00 gold piece buy?
In 1871 there was 3 million acres of land for sale (or was it 13 million, a lot anyway) in Mississippi alone. What do you think it would have taken to purchase 40 acres? And it was a very depressed economy. When nobody had any money to buy clothes, shoes or food, when 66 and 67 were years when the crops failed, on top of a drought.
And you are comparing that to now, why?
ETA: O I see, you think I am cherry picking. You should learn your history a bit better. And as far as Germany is concerned I had family there too. First hand experience here, and there.
EMICT
Veteran Member
I utilized that calculator and found it woefully off base. I purchased a brand new 1980 Dodge D300 for $3450 in the summer of 1980. I purchased a brand new 2018 Ram 3500 in the summer of 2018 for $44,500.00
According to the calculator, I should have spent $10,611.93 for that purchase in 2018 (off by some 400%), and that was comparing apples to apples.
According to the calculator, I should have spent $10,611.93 for that purchase in 2018 (off by some 400%), and that was comparing apples to apples.
20Gauge
TB Fanatic
Also take into account that we don't seem to have any economic numbers for the depressions before 1913 either. We have some guesses, but no real numbers.
I am betting that a number of the depressions were less than many of our current recessions.
Thus showing the problem with fiat cash once again.
CaryC
Has No Life - Lives on TB
I suspect you've never lived though hard times.
Well, without derailing the thread, gimme your short thought on it.
TxGal
Day by day
$27.14 for silver, according to Texas Precious Metals, and gold is 2048.14. As of this moment in time :-)
Roughly "Escape From New York" on a national and/or global scale. You'll sure know it when it happens.
STORM CLOUDS ARE GATHERING...
originally published Sunday, August 02, 2020
Sunday, August 02, 2020
There is a now widespread universally held belief, especially amongst “dumb money” market participants, that the markets cannot drop because the Fed is going to keep creating money in ever greater quantities to throw at pumping them higher and higher. This erroneous belief appears to be based on an assumption that the Fed cares about the economy or the welfare of the citizenry, when the reality is that the reason it exists is as a “wealth transfer engine” whose prime function is to serve as a mechanism for transferring the fruits of the labor of the population at large to the elite cadre at the top of the pyramid, and they even have a pyramid on their Federal Reserve notes. They achieve this through “systemic inflation” which with a fiat money system in place now for many years enables them to print unlimited quantities of money that they gift in the first instance to themselves and their crony associates and large favored corporations, and then let the rest out into the economy, with the tab for all this being pushed onto the hapless citizenry in the form of inflation. This is why the dollar has devalued by about 97% in purchasing power since the Fed came into existence in 1913.
Now, with the fiat system approaching its nemesis as debts and money creation go parabolic, the gloves are off and they don’t even bother to make any pretense about it – they create trillions which they hand straight to big favored corporations and Wall St banks, with the implied challenge to the ordinary citizen being “You don’t like it? – well, what are you going to do about it?” They are not just above the law, they ARE the law and they can and will do as they please.
Given that the Fed’s primary objective is to transfer wealth from the masses to the elites, and given that after months of the stockmarket trending higher, Dumb Money has been piling into the market again as Smart Money exits, as we can see on the latest Smart – Dumb chart below, it would seem irresistibly attractive to them to pretty soon rip the rug out from under the market and send it plunging again, as they did in the Spring, and then move in and pick up Dumb Money’s holdings when they sell in distress at the bottom, and start the whole wash, rinse and repeat cycle again – and if they crash the markets soon they should be able to achieve a long held objective of getting rid of Trump for good measure, since the markets would not recover enough by election time for him to capitalize on it.
////////////SNIP
Many charts at the link, and more discussion too
I dread where we're heading; seeing the dollar deflate like it is. I hoped we'd never see times like this and my family would see me die and say, "Yeah, he was a real character alright."
But, we may see these times, and soon.
Remember, the last official act of any government is to loot the Treasury.
But, we may see these times, and soon.
Remember, the last official act of any government is to loot the Treasury.
Hfcomms
EN66iq
Already there and past that point if you want to buy the real thing and put it in your pocket.
The only 'treasury' is all our personal hard-earned collective wealth,
and you are right, they'll surely loot it via debasement & restricting
access to it in all it's many forms; bank savings, 401k's, etc., etc.
Panic Early, Beat the Rush!
- Shane
It was the exact same vehicle, right? Brutal truth, you were comparing apples with peaches.
My first auto was a 1937 Ford. Got 150 miles to the quart of oil. Speedo reading: 75,000 miles . It was junked at about 90,000 miles.
Had a 1984 auto ( not a Ford) that was getting 4000 miles to the qt of oil. Speedo reading, 164, 000 miles. Sold it to an over the road salesman. He junked it at 275000 miles.
No way can you compare autos from one gen to the next. They are not the same. In fact, hardly anything is the same.
Ragnarok
On and On, South of Heaven
West
Senior
Excellent point.
Just wish I could work on the new ones when it's a computer glitch. Or even replace the radio. Now days most autos will not let you even replace a radio with out the computer to reprogram. Need a dealer to replace a $80 radio for $300 bucks.
I've always thought towards the end TPTB will greatly ease up on restrictions for early withdrawals on retirement accounts. Let the muppets prop up the economy for a while, like they did with home equity.
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When hyperinflation rampant, expect govt restrictions accessing
your cash or easily converting paper investments into cash, IMO.
Panic Early, Beat the Rush!
- Shane
I like comparing price of cigarettes, beer & gasoline, 50 yrs ago to now.
None are especially "new & improved" that they oughta cost more today.
Even if taking out for any increased taxation, inflation still readily evident.
What's especially enlightening, though, is back then I'd spend 35 cents for
cigs, $4.05 for case of 24 beers and less than 35 cents for a gallon of gas.
Often times bought with silver quarters and dimes, that today have more
than held their value, being real money, where paper $ cost has inflated.
Prices not gone up so much as buying power of paper $ has gone down.
Panic Early, Beat the Rush!
- Shane
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EMICT
Veteran Member
But you can still get a used YUGO for $150 bucks. Some vehicles never change in price.
You can use a Colt brand 1911 as a pretty fair indicator of the value of money and gold. A friend bought a colt 1911 stainless in Oklahoma in the ‘80s while in the army. Paid around $450 or so. I think the price of gold was in the same range at the time. At least for part of the year. Before this latest buying spree and china virus you could get a nice, new 1911 stainless for about the price of an ounce of gold. Just saying.
Spot gold is currently $2039. That’s not the futures trend. That’s CURRENT SPOT.
That just means 1 FRN$ is now down to 1/2039th of an ounce of gold. In the spot price world of course.
For a physical ounce in hand, 1 FRN$ is now worth 1/2158th of an ounce of gold.
www.apmex.com
For a physical ounce in hand, 1 FRN$ is now worth 1/2158th of an ounce of gold.
Buy 2020 1 oz American Gold Eagle BU | APMEX
Shop for a 2020 1 oz American Gold Eagle BU today at APMEX.com. Brilliant Uncirculated American Gold Eagles are perfect for investors and collectors!
A significant quote here, being acted out before your very eyes.
================
... confidence in currencies and faith in them as measures of value and as mediums of exchange cannot survive the idea that their supply is
virtually endless.
...
-- Why the US dollar’s slide may be a sign of real danger
Why the US dollar slide may be a sign of real danger this time
.
================
... confidence in currencies and faith in them as measures of value and as mediums of exchange cannot survive the idea that their supply is
virtually endless.
...
-- Why the US dollar’s slide may be a sign of real danger
Why the US dollar slide may be a sign of real danger this time
.
Quiet Man
Nothing unreal exists
Enjoyed this; mostly Craig's' comments (loved to watch his reactions as others spoke, too). Frames the current overall situation with silver. Lots of details and frank comments.
LIVE: SILVER ROUNDTABLE: BIX WEIR, CRAIG HEMKE, CHRIS MARCUS & Jean-Claude@BeyondMystic
1h57m
View: https://www.youtube.com/watch?v=eGxCXMpdtuU
LIVE: SILVER ROUNDTABLE: BIX WEIR, CRAIG HEMKE, CHRIS MARCUS & Jean-Claude@BeyondMystic
1h57m
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Quiet Man
Nothing unreal exists
Two part interview of Andrew Maguire by Chris Marcus. Mostly about the corruption of the big banks and the extreme shortages of metals at the wholesale level, particularly in silver; situation acute; extreme price suppression; silver rise from 30 to 50 likely to be relatively fast; unprecedented amount of physical deliveries occurring; JPM and GSAX accumulating phys.
Andrew Maguire “We Can’t Get Wholesale Silver Bars”
29 minutes
View: https://www.youtube.com/watch?v=912UykAeVX0
Andrew Maguire: There's A Run On COMEX Gold, Silver
35 minutes
View: https://www.youtube.com/watch?v=7SX1Pv6foC8
Andrew Maguire “We Can’t Get Wholesale Silver Bars”
29 minutes
Andrew Maguire: There's A Run On COMEX Gold, Silver
35 minutes
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Doomer Doug
Deceased
WOW! As of 0300 EST 8-6-20, Gold is $2051 per oz and silver is nearly $28 per oz. Buckle up boys and girls.
coalcracker
Veteran Member
Here we are in the wee hours of August 6th, on the 75th anniversary of Colonel Paul Tibbits aboard the Enola Gay departing Tinian Island to fly those 1,500 miles West to Hiroshima....
And in 2020, the Silver market is likewise taking off. Soon the mushroom cloud will jump into the skies above the fiat currency at Ground Zero.
At $27.65 an once, the current spot price for silver, the melt value for a silver quarter is $5.00, and a silver half is $10.00.
Hirodollarshima
And in 2020, the Silver market is likewise taking off. Soon the mushroom cloud will jump into the skies above the fiat currency at Ground Zero.
At $27.65 an once, the current spot price for silver, the melt value for a silver quarter is $5.00, and a silver half is $10.00.
Hirodollarshima
mbabulldog
Veteran Member
$28.35, interesting...
