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.
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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..
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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!
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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.
 
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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.
 
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