$ (Au, Ag, Pt) Precious Metals - Gold, Silver, and the Platinum family of metals

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Is gold nice

  • Yes

    Votes: 635 89.8%

  • No

    Votes: 72 10.2%
  • Total voters
    707
There is a very good reason why it is unlikely they will ever institute a gold standard ever again - it would be chaos.

At this moment in time large Gold Traders are trading 10x the worlds available supply in the form of paper gold.

If everyone demanded the physical gold, the traders would have to refund most of their clients money. Because only about 5000 tons of gold is actually out there for trade, the rest is locked up in reserves and private ownership (gold rings, crap like that).

A ton of gold is worth about 65 Million. a 1000 tons of gold is worth 65 Billion.

In theory, if Jeff Bezos was to decide to team up with a few friends, they could destroy the worlds gold market and simply buy about a thousand tons and send people "off to the bank to collect their gold", and when it isn't there it would rocket.

Also, it would make India the richest country on Earth - citizens there are sitting on about 20,000-30,000 tons so the value held at current rates alone is 1.2 Trillion but could with a gold run become gigantic.

HOWEVER, having said that I have read some asset reports from some gold traders and many clients are indeed cashing in their paper tickets and asking for deliveries, one has to wonder if a run will happen.

If you are worried about confiscation, simply find a relatively minor artist and have your gold cast into a sculpture or Art - which was and will be exempt from confiscation.
 
I can't imagine said:
The "goldbacks" being talked about aren't gold certificates. Goldbacks are a weird "alternative currency" intended to be used in parallel with existing currency. They're actually made out of gold, albeit a very small amount (1 Goldback = 1/1000 oz gold). They've tried their level best to avoid anything that could run them afoul of the feds, mostly by avoiding things like the word "dollar".

That said, they are technically fractional gold and can probably be treated as such, but the premium you pay on the notes prevents them from really being a cost-effective substitute for fractional coins. For instance, a 50 goldback note (1/20 ounce) is currently $167 on JMBullion and a 1/25 oz. Austrian Philharmonic coin is $105.

On the other hand, there aren't a lot of other ways to buy gold in 1/1000 oz. quantities easily (though I'm not entirely sure why you'd want to), so I guess they have that going for them.
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“The Goldback solves a 2,600 year old problem in that gold can be spent in small, interchangeable increments.”
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Yeah, that's because people were using silver and copper. Still rating you informative for this.

Menotaur said:
In theory, if Jeff Bezos was to decide to team up with a few friends, they could destroy the worlds gold market and simply buy about a thousand tons and send people "off to the bank to collect their gold", and when it isn't there it would rocket.
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This actually happened in 1979 with the Hunt brothers deciding to corner the market in silver.


i want to say part of the plot of the movie Trading Places was based on this.
 
Menotaur said:
There is a very good reason why it is unlikely they will ever institute a gold standard ever again - it would be chaos.

At this moment in time large Gold Traders are trading 10x the worlds available supply in the form of paper gold.

If everyone demanded the physical gold, the traders would have to refund most of their clients money. Because only about 5000 tons of gold is actually out there for trade, the rest is locked up in reserves and private ownership (gold rings, crap like that).

A ton of gold is worth about 65 Million. a 1000 tons of gold is worth 65 Billion.

In theory, if Jeff Bezos was to decide to team up with a few friends, they could destroy the worlds gold market and simply buy about a thousand tons and send people "off to the bank to collect their gold", and when it isn't there it would rocket.

Also, it would make India the richest country on Earth - citizens there are sitting on about 20,000-30,000 tons so the value held at current rates alone is 1.2 Trillion but could with a gold run become gigantic.

HOWEVER, having said that I have read some asset reports from some gold traders and many clients are indeed cashing in their paper tickets and asking for deliveries, one has to wonder if a run will happen.

If you are worried about confiscation, simply find a relatively minor artist and have your gold cast into a sculpture or Art - which was and will be exempt from confiscation.
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One caveat,,,I was listening to some random gold/silverbug youtube and the guy said US gold reserves are something like 6% of the total fiat dollar value but that when we were on the gold standard it was never 100%. It was like 40% and a gold backed cash currency could be as low as 20% physical gold or something like that.

It would still be a massive re-evauluation, but not as much as I thought.

What it would probably take is hyperinflation, a Dollar crash, and an issuing of New Dollars backed by gold though.
 
Menotaur said:
There is a very good reason why it is unlikely they will ever institute a gold standard ever again - it would be chaos.

At this moment in time large Gold Traders are trading 10x the worlds available supply in the form of paper gold.

If everyone demanded the physical gold, the traders would have to refund most of their clients money. Because only about 5000 tons of gold is actually out there for trade, the rest is locked up in reserves and private ownership (gold rings, crap like that).

A ton of gold is worth about 65 Million. a 1000 tons of gold is worth 65 Billion.

In theory, if Jeff Bezos was to decide to team up with a few friends, they could destroy the worlds gold market and simply buy about a thousand tons and send people "off to the bank to collect their gold", and when it isn't there it would rocket.

Also, it would make India the richest country on Earth - citizens there are sitting on about 20,000-30,000 tons so the value held at current rates alone is 1.2 Trillion but could with a gold run become gigantic.

HOWEVER, having said that I have read some asset reports from some gold traders and many clients are indeed cashing in their paper tickets and asking for deliveries, one has to wonder if a run will happen.

If you are worried about confiscation, simply find a relatively minor artist and have your gold cast into a sculpture or Art - which was and will be exempt from confiscation.
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I am of the opinion that China would be the biggest winner on a return to gold. The excel at macroeconomic warfare and stealth and have been using every tool in their kit to try to unseat the USA for 20 years. I think they've got more gold than the US does at this point (perhaps a lot more), because they know perfectly well that the Western elite's money-printing will end badly. Having tons of gold after currency crisis is a good way to emerge ahead of the pack.

As for the point about Bezos, western elites tread carefully in public actions around gold and precious metals. They always make a point to signal their loyalty to the powers-that-be and the fiat dollar system by poo-poo'ing gold. This system is good to them and they're not stupid. Advocating gold, let alone trying to break the paper markets is basically seen as treason to the Western establishment. But, they all hoard it in private, of that I have no doubt. A lot of the money standing for delivery of physical metal right now is old, smart money.

Dog-O-Tron 5000v5.0 said:
One caveat,,,I was listening to some random gold/silverbug youtube and the guy said US gold reserves are something like 6% of the total fiat dollar value but that when we were on the gold standard it was never 100%. It was like 40% and a gold backed cash currency could be as low as 20% physical gold or something like that.

It would still be a massive re-evauluation, but not as much as I thought.

What it would probably take is hyperinflation, a Dollar crash, and an issuing of New Dollars backed by gold though.
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Absent the manipulation (via artificial supply inflation) of the paper markets, or a sudden surge in confidence in US monetary policy, gold seems to try to adjust itself back to the value which it would need to be at for a gold standard. It tried in 1980, and again 2011 but those things stopped it.

I think if it becomes clear it can't be thwarted anymore the treasury would start buying as much as they could as cheaply (and quietly) as they could. I would not be surprised if they could double the gold holdings before getting to an equilibrium, which would then halve the rise gold would do to price in gold-backed dollars.
 
Gold is at 1931$
this is accumulation stage before the price go up again, US elections will bring more uncertainty,
expect more volatility,
and of course, after Trump wins the election, expect Nasdaq, sp500 and all indexes and big companies to climb up.
 
Is there a correlation between society well being and precious metals? Trying to keep politics out of this I get the feeling the BLM unrest/covid has something to do with precious metals going. Thoughts?
 
troon patrol said:
Is there a correlation between society well being and precious metals? Trying to keep politics out of this I get the feeling the BLM unrest/covid has something to do with precious metals going. Thoughts?
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A reminder:
It's not that precious metals are worth X dollars, during the good times and the bad times, it's that the dollar is worthless, all the time.
During the bad times the normies get the slap in the face that imaginary wealth ain't worth the paper, plastic, microchip that it's printed on.
History is a broken record when it comes to entities thinking that money printer go brrr works (it doesn't). See X country breadlines with wheelbarrows of cash for one loaf.
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Ever heard of the Gold Mac index? Archive. This blurb specifically refers to the euro, but the concept goes for any currency.
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I read a better article years ago at work, but I can't find it, but long story short you'd need the same ounces of gold today to buy a car that you would need in any time before now.
Schiff Gold has been on a tear as of late stating the obvious.
Peter Schiff: Government Tries to Replace the Economy With a Printing Press. Archive.
This dog and pony show has been going on long before we were all born, and will repeat itself after we're all dead.
Corona-chan and the race riots are just this round's flavour of bad times.
 
My gold and silver is basically insurance at this point.

I will continue to have a 401k, and max it out. I will have my fun money stocks, and maybe get a few more. I'll have fiat in the bank (and in my mattress)--6 months of expenses worth.

The gold and silver I'll try to balance out with any new stocks I get. If the economy doesn't collapse, what I do get from Social Security (not banking on it being much), plus my 401k, and other investments will be enough to get me by when I retire. If gold and silver don't perform crazy well, they'll still have value. I might have lost money on them, but I can still sell them. I saw a guy on Youtube who says he plans to get to 10,000 oz and just sell a bit every month to supplement his income, even if it's at like $18 an ounce: https://www.youtube.com/watch?v=7opBZjsSU0s

On the other hand, if the economy goes to shit and the dollar hyperinflates, Social Security is worth $10 a month and my stocks suck, the gold and silver I have should let me get by when I retire. It's insurance.
 
I don’t know about you all... but because of Corona this is the first time since college that I’ve felt alive. I have lots of silver and been waiting for something like this to happen for 5 years. The point where things get so bad that 1 silver merc dime will buy me a blowjob from a formerly well to do housewife and her 18 year old daughter at the same time. I’ve been waiting in the shadows laughing at these cuck husbands who buy their wives range rovers instead of buying silver bullion... knowing that I’ll be face fucking their wives mouths for the 1.30$ it cost me to buy that silver dime.

Just yesterday at Whole Foods I seamlessly entered into conversation about Corona with a roastie milf that had a ring on her finger in the water aisle... and I said this is all a cover for trump to bring us back on a gold standard. She started looking at me in amazement like she wanted me to paint her lips in cum. At the end of the conversation I’m like take my number l have plenty of protection and freeze dried food if you ever need it and she took it from me
 
SIGSEGV said:
I don’t know about you all... but because of Corona this is the first time since college that I’ve felt alive. I have lots of silver and been waiting for something like this to happen for 5 years. The point where things get so bad that 1 silver merc dime will buy me a blowjob from a formerly well to do housewife and her 18 year old daughter at the same time. I’ve been waiting in the shadows laughing at these cuck husbands who buy their wives range rovers instead of buying silver bullion... knowing that I’ll be face fucking their wives mouths for the 1.30$ it cost me to buy that silver dime.

Just yesterday at Whole Foods I seamlessly entered into conversation about Corona with a roastie milf that had a ring on her finger in the water aisle... and I said this is all a cover for trump to bring us back on a gold standard. She started looking at me in amazement like she wanted me to paint her lips in cum. At the end of the conversation I’m like take my number l have plenty of protection and freeze dried food if you ever need it and she took it from me
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You, uh... you alright there, buddy?
 
Godzilla1984 said:
See X country breadlines with wheelbarrows of cash for one loaf.
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Thats a very retarded look on history...
The jews took over germany during ww1. they forced us to surrender so they could get reparations AND collect on their loans.
they paid by losing the debt they were owed during the hyperinflation and we took back the gold they stole later.
They paid the ultimate price for fucking us over, do you think they will do the same with the US, the only power in the world standing between them and getting another taste of Endlösung?
 
My experiences with gold are this: Buy gold jewelry in India or Malaysia, bring it to the UK (as heavy chains that you wear, to get past export duty), get it appraised in the UK then sell it for between 3-4 times what you paid for it as scrap, then trade it for a bar or pellets. It's gold, so not scrap, but that's what it's called.

You can easily make a good 12-20k on each trip doing this. The only thing you have to watch out for is some sellers tell you gold is 18k or 24k when it is only 9k, but any reputable Indian jewelry maker will let you do a quick assay test. (you can buy a kit for about £15 that fits in hand luggage to do 9k, 14k 18k, 24k and Silver and Platinum btw), and is only 10ml per bottle so allowed on planes if labelled. If they don't let you test, then don't bother.

That's the only gold I deal in to be honest. Trading paper gold is too much risk, for me anyway.

An aside: I used to work with the jewelry trade, and one day wanted to do a photo shoot of the raw materials that go into making all the beautiful designs. The guy that owned the place had 3 security guards watching me like a fucking hawk, like wouldn't even let me get within 6 feet of this tub that I was supposed to be photographing. It was about as big as a 2 litre mason jar, but full to the brim with tiny 24k pellets. It was worth more than my house, and my mum's house. Crazy stuff. I think each pellet was only about 5mm round but was 1 gram, so at least £30 for something you could just wet your finger and stick it to.
 
Ex Cummunicated Sasser HD said:
My experiences with gold are this: Buy gold jewelry in India or Malaysia, bring it to the UK (as heavy chains that you wear, to get past export duty), get it appraised in the UK then sell it for between 3-4 times what you paid for it as scrap, then trade it for a bar or pellets. It's gold, so not scrap, but that's what it's called.
You can easily make a good 12-20k on each trip doing this.
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How exactly you do this?
How do you buy cheap gold?
 
Metals looking better day after fucking day. What happens when trillions of Fiat ponzi dollars are "printed" - while the purchasing power of the citizen has gone down by 98% since 1913? Collapse of the dollar. The scheme worked perfectly for the Tribe's hoarders, but the wheels are coming off. 2008 was the hard warning. 10 years of planning later, and we get to this lovely period of time, where the Covid coof has subsequently Taken ALL blame off Bankers for the Economy AND killed off small businesses. Thus allowing Globalist monopolies (freshly enriched with your future taxes through stimulus) to consolidate power in the near term. The pieces have come together nicely in the last year for Them. Get some "cheap" PMs now while you can before they become Unaffordium and Unobtainium. The Kings hoard Gold, you should to.
 
I've been looking into devoting 5%-10% of my excess money into PMs. Mainly silver but maybe trying to be able to buy 1 ounce of gold a year. I've been watching the prices for 3 years now and the volatility isn't what's worrying me (since cost average in the long term will be fine as long as you consistently buy every interval) , what has me worried is the skyrocketing premiums. The average person who isn't buying sick weight is going to spend about $5 per American Silver Eagle as a premium over spot (as opposed to a little more than $2 just 3 years ago).

Some of my research has led me to conclude that the "spot price" isn't really a good indicator of what the metal is actually worth and that the premiums build some of the price into it, so therefore silver is really worth about $25-$26 instead of the $24 spot it's claimed. This means the demand for consumer PMs is higher now than it was 3 years ago which means prices should be trending up. Although, I saw more stuff that indicated we should be approaching a drop back to around the 17-18 mark.

Basically, no one fucking knows and I have no idea what to do. If the price drops, I'll probably pull the trigger and start accumulating. PMs are one of those things where, there's no real reason to not stockpile it. Every argument about it just ends in ad hominem calling the other person a crazy prepper. I do think gold is way more desirable to have than silver, but who has $1900 to drop on one ounce?

Silver stacking YouTube channels are also hilarious to watch because many of them are insane preppers.
 
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