Precious Metals

ThinTern said:
I've used JMBullion to much success. Great customer service and easy delivery. One aspect of this that I would encourage you all to think bout is what happens if gold is banned again in this country. Believe it or not, Gold ownership was once banned within this country. When societies rapidly deflate their currency, capitol controls (which is what a ban on gold ownership is) are always necessary due to Gresham's Law.

Any investor in PM's does so because of their philosophy regarding what currency is, and how to preserve wealth. And this philosophy usually has a longer-term mindset. So, what is the stance of our own government in the long term? Will capitol controls come back to this country as we move toward a fiscal dominant minatory environment (for information on what that is, Lyn Alden is phenomenal: https://www.lynalden.com/full-steam-ahead-all-aboard-fiscal-dominance/)

And if that happens, will the government go after people who have invested in Gold? In that case, buying cash for gold now is a solid way to hedge against the predations of our own government. Yes, I currently use the internet but as our fiscal environment rapidly changes, I'm going to start looking at purchasing PM's in a manner that cannot be tracked. Maybe I have a tin-hat on... But I wouldn't put it beyond our wicked government to look at online purchase history in the future. So all that being said, the TLDR version is I think its great to purchase online right now, but shifting toward a cash-buy only strategy is increasingly become attractive to me.
Click to expand...
Regarding traceability, I buy silver online through my bank (in Canada). Such transactions could not be any less anonymous, however once I have that metal in hand, that's where the trail ends. There's no record of when or how or to whom I have traded it, or for what.

JM Bullion has good prices however through my bank, once I account for exchange rate etc (plus I get free shipping) it's as good or even slightly better, if particular items are on sale.
 
stadtaffe said:
www.unz.com

The politics of gold

Why has the price of gold been increasing so fast, breaking records? Economist Michael Hudson explains the politics of the precious metal, and the dynamics of the US dollar system. https://youtu.be/9Bvr2SZm-NM Transcript (Introduction) BEN NORTON: The price of gold has been skyrocketing. Since...
www.unz.com
I started reading this but the article was too long. If someone makes it to the end please say if it is worth the read..
Click to expand...

Articles by Unz are always too long.
 
Thomas More said:
There was talk a while back of phantom gold, where people sold ownership of gold on paper, while keeping it stored in their vault for safety, but sold more than what they physically had available. The fear was that this shortfall would be exposed, and there would be a run on gold, with everyone wanting to trade their paper stocks for physical gold.

With this situation, and with talk of having DOGE audit Fort Knox, I wonder if this run is starting. Maybe we'll see this house of cards collapse!

The tweet I posted above had McGregor saying that the UK might not survive. Big if so!
Click to expand...

The big idea is that Trump (and the rest of the world) will re-value Gold to a much, MUCH higher value to be able to wipe out all (or most) the debts of the countries of the entire world. Hence why central banks all over the world have been bringing back home gold reserves that have been stored in vaults in the USA and the UK since the 1960s, while also buying the more gold like hotcakes for the past 10 years or so.

However, for the USA to pull off this re-valuation of gold, full audits will be required at the gold vaults in Fort Knox and at the New York federal reserve, and possibly elsewhere, which haven't been done since way back in the 1950s. Many people believe much of the USA's physical gold was secretly sold off in the 1970s to pay for the Vietnam war and so called voyage to the moon, and this is why Nixon banned the convertibility of US Dollars into gold in 1971 after France (through president De Gaulle) changed all their US dollar reserves into gold in late 1969/early 1970.

Some people think this is what Trump is talking about in his inauguration when he says the USA will enter a "golden age".
I'm guessing Trump wants this process completed for 250th anniversary of the USA in 2026.
 
Last edited:
stadtaffe said:
www.unz.com

The politics of gold

Why has the price of gold been increasing so fast, breaking records? Economist Michael Hudson explains the politics of the precious metal, and the dynamics of the US dollar system. https://youtu.be/9Bvr2SZm-NM Transcript (Introduction) BEN NORTON: The price of gold has been skyrocketing. Since...
www.unz.com
I started reading this but the article was too long. If someone makes it to the end please say if it is worth the read..
Click to expand...

You can always listen to the video instead, well worth it, like most of the material by economist Michael Hudson.

Western central banks (DC, London, Basel, Frankfurt) have been actively keeping gold price down while China, Russia, India and traders have been buying up. Hudson says that this is a repeat of the 1970s, and at some point they won<t be able to keep gold prices from shooting up.
 
Caduceus said:
Airplane has bumpy turbulence in the same moment as Trump states to the press they are going to finally audit all the gold in fort knox after more then 50 years since the last audit.

Click to expand...


The next big question is whether he’ll admit it if there isn’t.
 




Youtube video at 18 minutes talks about fake bars during an Australian audit in 2021, held at Bank of England.

If BOE has bad goods, that bodes ill for the whole industry. There are so many paper ounces in derivatives floating around, there could be a dozen or so claimants against each real bar. I have no idea how exposed the Ft. Knox inventory is to derivatives, but we haven't had a look inside for decades. This could be a real pandora's box, but it is time for some sunshine.
 
Would be great to be able to say when you walk into a hotel - do you take silver?

At about $30 per ounce, it's going to generally be between 3 and 6 silver coins per night.

How about when you walk into a car dealership - do you take gold?

I have tried do you take bitcoin a few times where there were payment difficulties but it hasn't worked yet.

It's not illegal to ask. I'm not even sure if it's illegal to do a transaction with metal.

Gold is so expensive at the moment it would only take around 2 coins to buy a motorcycle and 3 and upwards for a car depending on what you buy.

The only thing is, both parties would have to be content to round off, near enough is good enough, or to make up the difference or give change in standard currency.
 
stadtaffe said:
Would be great to be able to say when you walk into a hotel - do you take silver?

At about $30 per ounce, it's going to generally be between 3 and 6 silver coins per night.

How about when you walk into a car dealership - do you take gold?

I have tried do you take bitcoin a few times where there were payment difficulties but it hasn't worked yet.

It's not illegal to ask. I'm not even sure if it's illegal to do a transaction with metal.

Gold is so expensive at the moment it would only take around 2 coins to buy a motorcycle and 3 and upwards for a car depending on what you buy.

The only thing is, both parties would have to be content to round off, near enough is good enough, or to make up the difference or give change in standard currency.
Click to expand...
This is where we need to go. And instead of like in the past the coin is labeled as “A silver dollar” and worth same as a US dollar, simply true silver and gold coins should only be labeled by weight (1 gram, 1 oz etc), so as the market fluctuatates the valuation of the weight is a simple current conversion on what you can buy.
 
Here's 3 videos from way back in the year 1974 of the first (and to date ONLY) time public cameras were allowed to film inside fort knox.
In reality they only opened 1 single door to 1 single tiny (closet sized) room, and no acid tests were done on the bars to see if they were real gold.
I hope Trump and Musk show us more rooms, and do some proper counting and testing.





 
Last edited:
stadtaffe said:
Would be great to be able to say when you walk into a hotel - do you take silver?

At about $30 per ounce, it's going to generally be between 3 and 6 silver coins per night.

How about when you walk into a car dealership - do you take gold?

I have tried do you take bitcoin a few times where there were payment difficulties but it hasn't worked yet.

It's not illegal to ask. I'm not even sure if it's illegal to do a transaction with metal.

Gold is so expensive at the moment it would only take around 2 coins to buy a motorcycle and 3 and upwards for a car depending on what you buy.

The only thing is, both parties would have to be content to round off, near enough is good enough, or to make up the difference or give change in standard currency.
Click to expand...

I tried to buy a vehicle with gold last summer. Dudes response - ‘I don’t know anything about gold and I don’t have time to learn.” Haha
 
If they go and recount all the gold in Fort Knox, what will it do to the gold price if it's either correct or some is missing - will that have much of an effect?
 
You must log in or register to reply here.
Back
Top