The cool old couple I remember from my shop.
topstuf
Posts: 14,803 ✭✭✭✭✭
This happy older couple came in to my shop back in the early 80's.
They brought in small quantities of $20 gold pieces. Mostly Libertys.
We got to know them and they told us that when they were younger, they noticed how the US was decidedly stripping its citizens of nearly everything. 
They began buying $20 gold pieces. They kept it up. 
Then, in their 70's they began selling a bit at a time. Whenever they wanted to take a special trip or make a substantial purchase.
I was impressed. Not only with their affection for each other but also with respect of their insight.
They were very security conscious. They were from out of town and didn't even want the local ...dealer... to know their activities.
Happiness with no reliance on ..any.. government is a good thing. 
Comments
Nice story, thanks for sharing.
It's all about what the people want...
Maybe they were the old timey Bonnie and Clyde type and were then liquidating their stash since the statute of limitations finally ran out....hmmmm
They did look sinister.
I like it, nice story !!!
The wife and I took note and copied their plan exactly.
Now here I am old and decrepit with a "stack" a mile high.
But we mixed 20s with bullion ouncers.
Happiness!
Gosh, a sensible approach proven to work. Who'd a thought?
I knew it would happen.
Paranoid kooks.
Lol
Knowledge is the enemy of fear
Aaaah. The fish are still biting.
I like my gold and silver, but think of how many more trips they could have gone on if they had it in the stock market.
Sounds vaguely familiar of a couple I know well. Stack on!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
The more assets you have, the better it is.
Knowledge is the enemy of fear
How fast will U.S. dollar sink?
February 21, 2019 by Pat Heller
According to current U.S. government projections, it will need to increase outstanding debt by $12 trillion over the next decade. That is going to be a huge problem.
Such a massive increase in debt, by itself, is an indicator that the value of the U.S. dollar is destined to fall. If investors are looking for a place to allocate part of their portfolio, they would tend to shy away from assets that have the prospect of going down in value.
Already, China and Japan, the largest holders of U.S. Treasury debt, are scaling back on their holdings. Who will replace them, not only in continuing to purchase Treasury debt issued to offset existing obligations as they mature, but also in the huge increase in debt over the next decade?
There really is no outside party that will do so. Consequently, the Federal Reserve is almost certain to again engage in quantitative easing (meaning inflation of the money supply) to absorb the new Treasury debt issues. On Feb. 8, Federal Reserve Bank of San Francisco President Mary Daly told reporters that the Fed was likely to resume quantitative easing as a routine action rather than its current policy that it should only be considered in an emergency.
I have stated all along that the U.S. government would accelerate the depreciation of the U.S. dollar. In recent years, the Federal Open Market Committee had repeatedly stated that it sought to knock down the value at least 2% annually, though not worded so explicitly. How much faster the U.S. dollar will sink over the next several years is now the important question.
This development just adds to the reasons why I consider it prudent to allocate a part of one’s net worth or investment portfolio to ownership of physical bullion-priced gold and silver coins and ingots as “wealth insurance.” In years past, I suggested that the allocation be 5-10% of the total. With this latest development, I am upping the recommended allocation to at least 15%.
https://www.numismaticnews.net/article/features/how-fast-will-u-s-dollar-sink
they would tend to shy away from assets that have the prospect of going down in value
Yes. Obviously. And all assets have proven they can decline in value.
Already, China and Japan, the largest holders of U.S. Treasury debt, are scaling back on their holdings
This is false. Americans are the largest holders of Treasury debt by a very wide margin and Japan and China hold nearly the same amount as they did 5 years ago.
There really is no outside party that will do so
Why do we need an outside party? With 10,000 Americans retiring everyday who need income, the demand for Treasuries is and will continue to be strong. However, a German investor can choose to buy a 10 year German bond paying 0.099% or a US bond paying 2.6%. Some decisions are quite simple.
Knowledge is the enemy of fear
If one is worried about the dollar then it behooves one to support it
Instead of parking money in a cd why not open a treasure direct account and buy some treasury securities ? I think you can start with as little as $100
It's a fool's game. The 2008 bailouts removed the benefits of Treasury instruments.
Anyone ..needing..income is screwed.
Anything under a 6% net yield is nothing.
At today's rates, it's nearly impossible to live on fixed income. You better have squirreled a PILE away in the early years.
Of course, there's stock speculation.
Keep the faith in government bonds. After all they're guaranteed by overextended and dead mortgages but who cares?
???
Sure would be nice if gold threw off an income stream.
You comment about mortgages warrants a wholehearted LOL.
Knowledge is the enemy of fear
I'm not presently worried about US gov paper... I'm getting worried about Corporate paper. Being long the entire US curve has been a nice play over the past few months or so.
Now you mean physical dollars on hand or just not into any asset at this moment
Everything needs to be converted to dollars to be exchanged. So make sure what you have can be converted to many, many dollars.
Knowledge is the enemy of fear
Gold AND cash deserve stacking.
Now I'm sure you mean what you have can be converted into ANY currency.
Yes, I'm sure that's what you meant.
Including converting gold into anything useful. Yes, exactly what i mean.
Knowledge is the enemy of fear
Very good story Thanks!