Today, Saturday I just bought a couple grand worth of Silver

Homesteading & Country Living Forum

Help Support Homesteading & Country Living Forum:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Supervisor42 said:
This is correct. They do not pay a dividend, but....
If we had 20% inflation this year and you bought silver in February, you have not suffered a loss, unlike keeping your money in a CD that pays only pays 2%. :(
Click to expand...
Yes if one is just holding it.

The value of what have went up so we sold enough to cover our annual withdrawals from our retirement savings for 1.5 years. And we still have as much in PM as we purchased. So we did " make money".

The theory is if PMs go down we can buy more to keep up the face value. Buy low, sell high.

Ben
 
Caribou said:
One theory is that gold never changes that much. The dollar fluctuates. When you were spending $250/oz for gold that same $250 could buy X. That same X today would cost you around $2,000. When the Dollar is no longer the reserve currency, good luck finding gold or silver anywhere near today's prices. PM's are a hedge, You never make anything, you prevent a loss.
Click to expand...
My adviser was talking about how much a new suit cost him and asked us to guess. I guessed the spot price of gold. He was surprised I guessed right and asked how I knew. I reminded him about the rule that a good suit costs an oz of gold.

Ben
 
Bacpacker said:
Just conicideing with another run up on the markets
Click to expand...
Yeah, nobody mentioned that the Dow set a new record and is resting comfortably above the 37,000 mark lately:rolleyes:.
 
My 2 c. : I think our "elites" are keeping the mkt. up in an attempt to prevent panic.
Other countries, bank leaders, and the Vatican have all been purchasing gold over the past 3 years.
It does seem like they are pulling the ol' do as I say not as I do routine.
Maybe it's just me.
 
Tacitus said:
Yeah...interesting that gold is still "high" given that.
Click to expand...
Likely tons of people all saying: "I need to hide my money before the end of the year, because tax time is coming!"gaah
They are buying EVERYTHING they can find.:oops:
 
LadyLocust said:
Other countries, bank leaders, and the Vatican have all been purchasing gold over the past 3 years.
Click to expand...
I'm wondering if you have a link to that. I've searched, and can find nothing. I'm not saying you are wrong. After all, it would be smart for the Vatican to hold gold...the Vatican is a long term entity which plans to be in existence until the Second Coming...and is the oldest continuing organization in existence on the Earth today.

But, the Vatican holdings in gold are generally peanuts (in the tens of millions, not counting artistic/antiquity values), and definitely not enough to prop up any markets. And the Vatican could not care less regarding short term fluctuations in gold or any other asset. People (especially Catholics) often get angry at the Vatican for not taking a shorter term view at times...but the Vatican tends to think in terms of millennia, not financial quarters or years.

I will note that Pope Francis has been decentralizing the management of the Vatican's national/state wealth holdings due to fraudulent activities by the people who managed it when it was more closely and secretively held. He has been pushing management of their "state 401k" to international money managers, to be managed in a more traditional manner. If those wealth managers are buying gold (either for the Vatican or for anyone else), that would be something for all of us to note.
 
Tacitus said:
I'm wondering if you have a link to that. I've searched, and can find nothing. I'm not saying you are wrong. After all, it would be smart for the Vatican to hold gold...the Vatican is a long term entity which plans to be in existence until the Second Coming...and is the oldest continuing organization in existence on the Earth today.

But, the Vatican holdings in gold are generally peanuts (in the tens of millions, not counting artistic/antiquity values), and definitely not enough to prop up any markets. And the Vatican could not care less regarding short term fluctuations in gold or any other asset. People (especially Catholics) often get angry at the Vatican for not taking a shorter term view at times...but the Vatican tends to think in terms of millennia, not financial quarters or years.

I will note that Pope Francis has been decentralizing the management of the Vatican's national/state wealth holdings due to fraudulent activities by the people who managed it when it was more closely and secretively held. He has been pushing management of their "state 401k" to international money managers, to be managed in a more traditional manner. If those wealth managers are buying gold (either for the Vatican or for anyone else), that would be something for all of us to note.
Click to expand...
I will have to see what I can find. I don’t keep them filed or anything and like I said over the course of the past few years. I can certainly post as I see things though. Guess I figured if I was seeing something so was everyone else.
 
LadyLocust said:
I will have to see what I can find. I don’t keep them filed or anything and like I said over the course of the past few years. I can certainly post as I see things though. Guess I figured if I was seeing something so was everyone else.
Click to expand...
Actually, it is pretty easy to see when a Saudi billionaire buys up million$ of it in just one day.
Like when it zoomed above $2150 in 12 hours:
Screenshot_20231214-195205_kindlephoto-2281644885.png
 
Supervisor42 said:
Actually, it is pretty easy to see when a Saudi billionaire buys up million$ of it in just one day.
Like when it zoomed above $2150 in 12 hours:
View attachment 121337
Click to expand...
Here is a 11 minute video that may shine some light on question of a recesion coming.



As I understood the historical analogies we are at the cusp now with a possible couple of months of melting up before the markets drop OR lanches into a new bull market. The later being rare.

Two factors are the fed rates, and the unemployment rate.

Re: unemployment rate

With Baby Boomers moving into retirement, the unemployment is a twisted factor.

Ben
 
Neb said:
Here is a 11 minute video that may shine some light on question of a recesion coming.
As I understood the historical analogies we are at the cusp now with a possible couple of months of melting up before the markets drop OR lanches into a new bull market. The later being rare.
Two factors are the fed rates, and the unemployment rate.
Re: unemployment rate
With Baby Boomers moving into retirement, the unemployment is a twisted factor.
Ben
Click to expand...
I love the guy using the term "melting up". :)
After the meteoric rise in markets in the recent past, will there be a "correction", certainly. A recession? I don't think so.
I think when the calendar flips soon, a lot of people will see 'the light at the end of the tunnel' that the 'Obama 2.0' years will end.:thumbs:
 
The current rise would call meteorological. Yeah it's went up pretty good, but we seem jumps and drops the last decade of so in a day or 2 of similar amounts. And the bulk of it is a smaller number of companies. It not a wide spread event like a typical run up is. After the drop is September and October, which seems to happen many years, its not surprising to have a climb in the markets. Whether it continues for a lengthy period or not remains to be seen.
 
Bacpacker said:
The current rise would call meteorological. Yeah it's went up pretty good, but we seem jumps and drops the last decade of so in a day or 2 of similar amounts. And the bulk of it is a smaller number of companies. It not a wide spread event like a typical run up is. After the drop is September and October, which seems to happen many years, its not surprising to have a climb in the markets. Whether it continues for a lengthy period or not remains to be seen.
Click to expand...
Well, if you were playing along today, it plunged 475 points in the last couple hours and is now hovering around 37K. Tomorrow should be interesting:rolleyes:.
You might want to tune in...
 
This video talks about the "Sahm Rule" which indicates a recesion is coming.



Recessions are declared after quarters of negative growth. So we don't know it is officially a recesion until 6 months. The Sahm rule detects the recession soon after it starts.

Ben
 
Neb said:
This video talks about the "Sahm Rule" which indicates a recession is coming.
Recessions are declared after quarters of negative growth. So we don't know it is officially a recession until 6 months. The Sahm rule detects the recession soon after it starts.
Ben
Click to expand...
...Come, baby come!:waiting:
Hopefully it will be quick.
If they keep JB going for another 4 years, it will be 2008 all over again:mad:.
And I'll be too old to enjoy the megabux by the time it ends:(.
 
Last edited:
OMG! Gold prices are finally moving for the first time in 2024!:eyeballs:
And it doesn't appear to be a 'billionaire blip' like I mentioned above.
It has been stuck in the ~$2050 doldrums all year.
Screenshot_20240301-163050_kindlephoto-1342224369.png
 
Alaska Prepper was saying that the $30,000 income in 1983 is equivalent to $162,000 today. Basically 5 times as much. In that same time gold went from about $300 to $2000. This shows how much the dollar and our purchasing power have been diluted and diminished. The video before this was longer and more detailed.
 
Supervisor42 said:
OMG! Gold prices are finally moving for the first time in 2024!:eyeballs:
And it doesn't appear to be a 'billionaire blip' like I mentioned above.
It has been stuck in the ~$2050 doldrums all year.
View attachment 125373
Click to expand...
It's not a blip, folks.
Updated graph from today:
Screenshot_20240304-135221_kindlephoto-1531291089.png
 
So hard to keep buying. I stopped awhile ago, but I don't think it is going back down. And, if it is going to go up, that means I should be a buyer.

My latest thought: For every dollar I spend on alcohol, spend the same amount on gold. That would be good for my physical health (slowing down my drinking by half), and good for my financial health (forcing me to store some of my savings in the form of gold).

Edit to add this: Plus, it is the same in a bull market...why buy stock if the market is high already? And yet, you can't time the market. If you hold in cash, you will never participate in the bull market. The only reason not to participate in the equity markets is if you plan on cashing out soon. If you plan on holding even for a few years, it makes sense to buy.
 
Last edited:
Tacitus said:
So hard to keep buying. I stopped awhile ago, but I don't think it is going back down. And, if it is going to go up, that means I should be a buyer.

My latest thought: For every dollar I spend on alcohol, spend the same amount on gold. That would be good for my physical health (slowing down my drinking by half), and good for my financial health (forcing me to store some of my savings in the form of gold).

Edit to add this: Plus, it is the same in a bull market...why buy stock if the market is high already? And yet, you can't time the market. If you hold in cash, you will never participate in the bull market. The only reason not to participate in the equity markets is if you plan on cashing out soon. If you plan on holding even for a few years, it makes sense to buy.
Click to expand...
We just told our advisor ok to sell half of gold holdings. If the price drops we locked half of our gains. If it keeps going up we still have piece of the action.

Not investment advise!

Ben
 
You must log in or register to reply here.

Latest posts

Back
Top