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Post by blackfeather on Dec 20, 2020 22:22:32 GMT
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Deleted
Deleted Member
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Post by Deleted on Dec 21, 2020 1:16:38 GMT
That's a bit unsettling, but certainly not unexpected.
<sigh>
Like watching a train wreck in slow motion.
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Post by blackfeather on Jan 2, 2021 18:44:35 GMT
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Post by Ozarks Tom on Jan 2, 2021 19:46:55 GMT
For whatever reason a person can think of, global reset/cashing in before the crash/keeping over-leveraged banks afloat, the Fed has thrown aside nearly every rule of economics in the books.
It's not that they don't know what the end result of their craziness will be, and I'm sure those in charge are feathering their own nests with tangibles right now, it's that they don't seem to care what they do to the country.
I hate to sound like a broken record, but if a person has any discretionary money available they might want to consider changing those dollars for precious metals, the "tangibles" that have proven themselves inflation proof for centuries. I believe they're being manipulated right now, but even with the manipulation they've increased against the dollar by an average of 27% over the past two years. Waiting for a "dip" could well be a mistake.
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Post by BrewDaddy on Jan 3, 2021 0:02:29 GMT
I hate to sound like a broken record, but if a person has any discretionary money available they might want to consider changing those dollars for precious metals, the "tangibles" that have proven themselves inflation proof for centuries. I believe they're being manipulated right now, but even with the manipulation they've increased against the dollar by an average of 27% over the past two years. Waiting for a "dip" could well be a mistake. Well Ozarks Tom, maybe you sound like a broken record but at least this time I listened..... BitCoin (BTC) is sooooooo far up that I used some of it to pick up some more PM's in junk silver dimes and my first foray into gold. Picked up a bar of it..... okay okay, it was a 1 gram bar (1/28 ounce) but still my first gold.... My cash outlay for BTC was $140 way back when... 100 from a friend, 40 from a kiosk.... by a movie theater.... at the mall.... it was a bit of a surreal experience buying crypto that way but hey, it worked... I got into BTC when it was going for about $5300 per 'coin'. When it got up to around $18500 I did a scrape with my profits, picked up 6oz of silver bars. BTC went down of course, then up, then way way way down for a long time... but I figured even if it totally evaporated I still had my 6oz of (expensive) silver bars.... But this morning BTC was over $32000 - yes that's 6 times what I originally got into it with.... So even though I think PM's are through the roof, I'd rather have PM's than BTC, so dropped enough BTC to pick up $5 face value junk dimes and the 1 gram gold bar. And, at least as of this moment with BTC at $32200 and perhaps still climbing, I still have $125 of BTC left. I'd say I've come out well ahead of the game for my $140 initial outlay. brew
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Post by wildhorseluvr on Jan 3, 2021 0:12:06 GMT
I hate to sound like a broken record, but if a person has any discretionary money available they might want to consider changing those dollars for precious metals, the "tangibles" that have proven themselves inflation proof for centuries. I believe they're being manipulated right now, but even with the manipulation they've increased against the dollar by an average of 27% over the past two years. Waiting for a "dip" could well be a mistake. How much do you need to get started? How would someone without a clue 😊 go about doing this? And if the SHTF and you need cash how would you use it? I’m thinking handing over a gold bar to buy a gallon of milk and a dozen eggs will not work well.
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Post by sawmilljim on Jan 3, 2021 0:19:09 GMT
Using one gram bars you would probably need two for those eggs.
In my opinion old silver coins will be the best for use in emergency situations. Even one oz silver coins I think will work better than bars.
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Post by BrewDaddy on Jan 3, 2021 0:23:30 GMT
I hate to sound like a broken record, but if a person has any discretionary money available they might want to consider changing those dollars for precious metals, the "tangibles" that have proven themselves inflation proof for centuries. I believe they're being manipulated right now, but even with the manipulation they've increased against the dollar by an average of 27% over the past two years. Waiting for a "dip" could well be a mistake. How much do you need to get started? How would someone without a clue 😊 go about doing this? And if the SHTF and you need cash how would you use it? I’m thinking handing over a gold bar to buy a gallon of milk and a dozen eggs will not work well. Do you have a coin or jewelry store in town? If so likely they have junk silver on hand to buy/sell. Ozarks Tom posted this a long time ago and I've kept it handy as a reference: "The way I've bought junk silver in the past was a figure times the face value. X 13 would mean a dime cost $1.30. Two rolls of dimes equaling $10 face value would cost $130. Re-figuring it back to spot means weighing the coins, multiplying by .90, then multiplying again by .91 to get the Troy ounce weight of silver content. Then multiply by the spot price to see what margin the dealer is making. Most dealers when buying junk silver will pay about 5-6 points lower than their sale price, making money buying and selling. I'll generally pass if the dealer is making over a 20% margin on me." They're a dealer, so you can't really blame them for trying to make a profit. I'm sure others will chime in here so I'll hold off typing a bunch.... my arthritis is flaring up today.... bd
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Post by wildhorseluvr on Jan 3, 2021 1:13:59 GMT
I know zip, zero, zilch about precious metals but would like to learn. On the one hand, I’m a bit uncomfortable dabbling in something I have no understanding of. On the other, I’d just as soon not be trying to buy eggs with a wheelbarrow full of paper money like they did in Germany in ‘23. 😁
So if you wanted to stick your toe in the water with buying something like $1,000 in coins, what would be best to buy, or does it matter? (This is what they call junk silver?)
For the time being, would a person still want to keep an emergency fund in cash or would they be better off putting most of it in silver coin. Or both?
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Post by Thtwudbeme on Jan 3, 2021 1:19:57 GMT
So what's the big difference between money printed and/or digitally created by the government and a cryptocurrency that will never be tangible?
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Post by BrewDaddy on Jan 3, 2021 1:23:06 GMT
I know zip, zero, zilch about precious metals but would like to learn. On the one hand, I’m a bit uncomfortable dabbling in something I have no understanding of. On the other, I’d just as soon not be trying to buy eggs with a wheelbarrow full of paper money like they did in Germany in ‘23. 😁 So if you wanted to stick your toe in the water with buying something like $1,000 in coins, what would be best to buy, or does it matter? (This is what they call junk silver?) For the time being, would a person still want to keep an emergency fund in cash or would they be better off putting most of it in silver coin. Or both? Not everyone has the same opinion on the value of having PM's on hand, or how much, or all sorts of things... Here's a quick search that should provide some different viewpoints.... duckduckgo.com/?q=why+to+have+precious+metals+in+shtf&t=h_&ia=webWhen I first started w/ PM's the 'rule of thumb' was to have $100 face value of junk silver 90% silver coins. I have a number of silver bars and rounds, but any more I just buy coinage. And before you think $100 face value - no problem, and go out and buy it, just know that the $5 FV dimes I bought today cost me $126 plus change. THAT's why when silver spot price back in March or so hit rock bottom at less than $12 per ounce, people were b!tching about the dealer markup being charged... sure spot price was only $12, but dealers were charging $18 or more per ounce. If I could get silver at $12/oz now at a normal markup I'd be all over it.... [Edit: $18 markup, ON TOP of the $12 spot price] I'm hoping others will join in this conversation... bd
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Post by sawmilljim on Jan 3, 2021 1:30:50 GMT
So what's the big difference between money printed and/or digitally created by the government and a cryptocurrency that will never be tangible? The Government has the guns to back the idea their magic currency is worth what they want it to be. Those other folks can’t compete when push comes to shove.
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Post by wildhorseluvr on Jan 3, 2021 1:32:07 GMT
Thanks, BrewDaddy, Sorry, didn’t mean for you to have to type more, I was just throwing that out there for anyone. Hope your arthritis calms down.
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Post by BrewDaddy on Jan 3, 2021 1:42:49 GMT
Thanks, BrewDaddy , Sorry, didn’t mean for you to have to type more, I was just throwing that out there for anyone. Hope your arthritis calms down. This topic is vast and if I were to try and type out what I think I know on the subject it would be pages and pages long and I'm just not up for that. that's why I posted the search kind of on the subject for the different points of view. Some think PM's are a good idea, some don't, and in a lot of ways they're both right. It boils down to your own philosophy, wants needs and desires.... bd
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Post by wildhorseluvr on Jan 3, 2021 3:48:19 GMT
I just remembered when I was a kid one of my uncles had several 3# coffee cans full of silver dollars. I saw that collection numerous times over the years, don’t think he ever stopped collecting. Wonder what that would be worth now?! 😳
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