@taxmad said:
Fed announcement - gold spikes. Nice when markets are rational
and then tanks... I give up
FED basically said it will throw the kitchen sink at fighting unemployment; more QE, more printing, extended low rates. For the past ten years it has worried about the next quarter, never coming up with a viable long term plan. Gold suddenly sees through the smokescreen, gets hammered, and demand breathes it back to life. Appears demand is going to trump the smack down shenanigans, at least for a while. Gold is telling us that FED BS is being called out.
Gold cant say a darn thing....it diesnt have vocal cords.
The price of gold has ncreased because demand has increased due to massive global liquidity injections and relative valuation. Nothing more, nothing less.
Funny how since 2008 a few here have been warning of the crisis we are now face to face with. As warned, the chickens have come home to roost and precious metals are the protection. Even funnier is how the unicorn diehards still refuse to face the facts. Let them eat cake. lol
The stock certificate represents fractional ownership in the plant and equipment, in the organizational value creation, in the income stream and growth potential of the business and its products, and the individual and collective efforts of its employees and management to supply the market and make profits... as well as the risk that they will underperform and/or outright fail.
Neither gold nor stocks are useful for directly providing nutritional value.. surprising this isn't clear!
Seems obvious.
in between all the advertisements and popups, we read that lumber and copper are up in price. Golly!
Surely concrete, drywall, paint, toilets, sinks, lamps and lightbulbs can't be far behind.
Keep stacking? How's your concrete & drywall stash doing?
Booked solid in September, October filling up fast, someone just rented the long Thanksgiving weekend.. and then the snow season will begin shortly thereafter.
Around here (central TX), investment properties are being bid up to 100K above Zillow estimates. Much frenzied money chasing assets, along with surges in homelessness. This is not going well, and is clearly unsustainable.
Why do you use the word "imaginary"? Can you not see it? Do you not have it?
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
Your Federal Reserve System at work. Now they're throwing $trillions around like play money, devaluing every other dollar that's out there. Amazing stuff.
It's a pretty corrupt system, but it's what we've got. Problem is, it's not sustainable and ultimately someone isn't gonna get paid. Someone else is gonna get cheated out of their life savings. Lot's of other someone elses will lose their jobs. It's happened in similar ways before...many times, in fact.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
So if took $10k and bought Cracker Barrel stock--because i liked the simple, cozy, homemade and hometown feel--back in 2010, then i should not be entitled to the $50k it is worth now? That i am a criminal? That i have not benefitted?
You sound like someone who put $10k into silver at the same time and its still worth 10k. Almost like jealousy or envy.
Dont worry jmski, your "illicit" gains will come in due time.
If one gets some of the money "THEY keystroked into existence" because precious metals bought and held and traded increase in value, that's good and noble and smart.
If one gets some of the money "They created from nothing" by investing in stocks or real estate or building a business, well that's stupid and evil and "you're doing it wrong," they say... even if you also have some precious metals!
@jmski52 said:
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
So if took $10k and bought Cracker Barrel stock--because i liked the simple, cozy, homemade and hometown feel--back in 2010, then i should not be entitled to the $50k it is worth now? That i am a criminal? That i have not benefitted?
You sound like someone who put $10k into silver at the same time and its still worth 10k. Almost like jealousy or envy.
Dont worry jmski, you're "illicit" gains will come in due time.
Could be worse, you could have put $10k into silver a decade ago and on paper now it's only worth $5k. Factor in 10 years of inflation and the story gets even more sad.
@jmski52 said:
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
So if took $10k and bought Cracker Barrel stock--because i liked the simple, cozy, homemade and hometown feel--back in 2010, then i should not be entitled to the $50k it is worth now? That i am a criminal? That i have not benefitted?
You sound like someone who put $10k into silver at the same time and its still worth 10k. Almost like jealousy or envy.
Dont worry jmski, your "illicit" gains will come in due time.
The system is both corrupt and dysfunctional on a scale never before seen.
@jmski52 said:
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
So if took $10k and bought Cracker Barrel stock--because i liked the simple, cozy, homemade and hometown feel--back in 2010, then i should not be entitled to the $50k it is worth now? That i am a criminal? That i have not benefitted?
You sound like someone who put $10k into silver at the same time and its still worth 10k. Almost like jealousy or envy.
Dont worry jmski, your "illicit" gains will come in due time.
The system is both corrupt and dysfunctional on a scale never before seen.
Yes, we have gone much deeper down the rabbit hole.
Just wait until the holidays. Most of our neighbors have been pleading with our landlords every month for late payments. There have been lines of angry, sad, nervous people outside the leasing office since April. It is so much worse now.
The stuff in the dumpster stopped being new TV boxes and beer and lately has been older stuff that's breaking down like burned out fans and air conditioners but those are thinning out. Landlords changed parking passes just so we have to pay rent otherwise we get towed. Essentially, it's eviction. Leave or we have the last thing you have taken away... during this.
I will spend every last cent on gold and silver. I would rather lose it all trying than ever again lose it and never giving it a go.
I am never punching a clock again. I am never again being treated like a 7th grader so I can make nothing and they can raise my student loan payments while also taking away food support. Never again getting told I'll have my car stolen by a literal legal gang if I can't pay rent. Never again hoping for someone's good graces so I can afford the $10 voucher at the food shelf. Never asking some smug 22 year old if I am allowed to pee, so he can smirk and say no just to be mean. I am done. Done, done. Done.
There are things I'm just not doing anymore. I'm tired of having my money and everything nice taken away every 10-15 years. Why even bother working? Why save? Why participate if this is always the result? I am done participating.
Why not just... YOLO all your money on gold and silver at the best time to do so in modern history?
So I would recomend staying away from that reddit nonsense. Quit playing the victim, look in the mirror, pull up your bootstraps, and take on the world.
What's crazy about never wanting to be a wage slave again?
And guy, I don't have to pull myself up by my bootstraps. I'm falling asleep every night to my hot wife and ever-growing piles of gold in my $5,000 bed.
I'm riding out this pandemic in my ivory tower while I pay people to do stuff for me. I'm all set on anything you have to offer but thanks.
The Federal Reserve has “put a lot of money into the market, and that certainly helps keep prices up, maybe above what we would expect without this intervention”.
“What the Fed is doing right now is unprecedented,” the Fed has continued on the trajectory of low interest rates since mid-2019, but also pressed on with its “quantitative easing” approach to inject liquidity into the financial system, which it had used in the aftermath of the 2008-2009 financial crisis. “In recent months, it is not only doing the traditional quantitative easing of buying treasuries and mortgage-backed securities, but also continuing to buy other assets like corporate bonds, which is something that the Fed has not done before.”
In March, in response to the pandemic, the Federal Reserve announced a stimulus package that included expanded windows for its purchase of securities and new credit facilities for businesses and municipalities. “The fact that the Fed started injecting all this money into the market pushed prices up”. The prices of assets are “mechanically pushed up” by the Fed’s act of purchasing them.
"Taking these factors into account, the collapse in purchasing power of a currency which has been deployed to save financial assets and failed, once the general public finally understands the consequences, will likely be surprisingly rapid. In 1923 Germany, the final collapse took roughly six months. In 2020 America it could take as little as a few weeks."
"Taking these factors into account, the collapse in purchasing power of a currency which has been deployed to save financial assets and failed, once the general public finally understands the consequences, will likely be surprisingly rapid. In 1923 Germany, the final collapse took roughly six months. In 2020 America it could take as little as a few weeks."
How much did precious metals factor into the day to day lives of those in hyperinflated 1923 Germany?
"We can’t help but speculate about whether most citizens dismissed the idea of inflation during the calm period in 1920-’21. Did respected economists scoff at the idea that Germany could suffer hyperinflation, just before it struck? Did some politicians proclaim that “a little inflation would be good?”
While gold is a temporary store of value until money is needed for a transaction, the problem with any asset that holds value during hyperinflation is "do I want to exchange my asset for worthless money?" The worse inflation is the quicker one would want to spend the money received from their gold.
"We can’t help but speculate about whether most citizens dismissed the idea of inflation during the calm period in 1920-’21. Did respected economists scoff at the idea that Germany could suffer hyperinflation, just before it struck? Did some politicians proclaim that “a little inflation would be good?”
While gold is a temporary store of value until money is needed for a transaction, the problem with any asset that holds value during hyperinflation is "do I want to exchange my asset for worthless money?" The worse inflation is the quicker one would want to spend the money received from their gold.
Let me rephrase it. Was there a lot of bartering with precious metals on one side and food etc on the other side?
"We can’t help but speculate about whether most citizens dismissed the idea of inflation during the calm period in 1920-’21. Did respected economists scoff at the idea that Germany could suffer hyperinflation, just before it struck? Did some politicians proclaim that “a little inflation would be good?”
Market starting to look like what I thought was going to happen back on 7/15 when I cashed out all my stocks. Certainly left some $$$ on the table but glad to be out the last few trading days. Guess the question is will it continue?
I always seem to end up getting burnt trying to time the market, perhaps one of these days I'll just let it all ride. Wonder why I never get the urge to cash out of the gold?
@rcmb3220 said:
Anyone going to trade their can of tomato soup for a couple of mercury dimes when we get hyperinflation?
heh, highly doubtful. We just had the great toilet paper and Lysol shortage of 2020 and it didn't matter if you had silver or even gold coins. When it comes to a real necessities such as food I doubt precious metals will do a bit good for barter. Good luck!
Nothing wrong with that, whatever floats your boat.
Come to think of it I have 3 ASE dansco's all lacking the 2020 (I'm way too cheap to pay the outrageous premiums). If you want to get rid of 3 let me know. I have plenty cans of beans and sticks of butter. lol RGDS!
Comments
FED basically said it will throw the kitchen sink at fighting unemployment; more QE, more printing, extended low rates. For the past ten years it has worried about the next quarter, never coming up with a viable long term plan. Gold suddenly sees through the smokescreen, gets hammered, and demand breathes it back to life. Appears demand is going to trump the smack down shenanigans, at least for a while. Gold is telling us that FED BS is being called out.
Give Me Liberty or Give Me Debt
Gold cant say a darn thing....it diesnt have vocal cords.
The price of gold has ncreased because demand has increased due to massive global liquidity injections and relative valuation. Nothing more, nothing less.
Knowledge is the enemy of fear
"Gold cant say a darn thing....it diesnt have vocal cords."
Darn it. Just getting used to 'you can't eat it'..... now I find out it won't talk to me either!? Stupid worthless shiny metal..... ! lol....
Funny how since 2008 a few here have been warning of the crisis we are now face to face with. As warned, the chickens have come home to roost and precious metals are the protection. Even funnier is how the unicorn diehards still refuse to face the facts. Let them eat cake. lol
Give Me Liberty or Give Me Debt
The Fed Just Printed More in Six Months Than It Did From 2008-2016
Got gold? you bet.
Give Me Liberty or Give Me Debt
Cool link
in between all the advertisements and popups, we read that lumber and copper are up in price. Golly!
Surely concrete, drywall, paint, toilets, sinks, lamps and lightbulbs can't be far behind.
Got real estate?
Liberty: Parent of Science & Industry
got non-paying tenants? lol
Give Me Liberty or Give Me Debt
What a brilliant and insightful point to make! You're correct of course
Not a single one of the rent checks ever received from my gold coins has ever bounced. 🤣
Liberty: Parent of Science & Industry
The only place that rents gold is the COMEX.
Give Me Liberty or Give Me Debt
FIFY.....
Massive money creation. Increases the gap between the haves and have nots. Increases inflation potential when that imaginary money is monetized.
I knew it would happen.
"Gold cant say a darn thing....it diesnt have vocal cords."
Darn it. Just getting used to 'you can't eat it'..... now I find out it won't talk to me either!? Stupid worthless shiny metal..... ! lol....
It just occurred to me that you can't eat a stock certificate either........well, maybe with some salt & pepper?
I knew it would happen.
in between all the advertisements and popups, we read that lumber and copper are up in price. Golly!
Surely concrete, drywall, paint, toilets, sinks, lamps and lightbulbs can't be far behind.
Keep stacking? How's your concrete & drywall stash doing?
I knew it would happen.
The stock certificate represents fractional ownership in the plant and equipment, in the organizational value creation, in the income stream and growth potential of the business and its products, and the individual and collective efforts of its employees and management to supply the market and make profits... as well as the risk that they will underperform and/or outright fail.
Neither gold nor stocks are useful for directly providing nutritional value.. surprising this isn't clear!
Seems obvious.
Liberty: Parent of Science & Industry
Not sure why you can't eat it, you most certainly can drink it.
The whole worlds off its rocker, buy Gold™.
there's lots of uses proposed for worthless paper!
Booked solid in September, October filling up fast, someone just rented the long Thanksgiving weekend.. and then the snow season will begin shortly thereafter.
Liberty: Parent of Science & Industry
got a call out to contractor who installed concrete porch and steps. they need repairs. he said he'd do it but doesn't know when as it's "crazy."
Why do you use the word "imaginary"? Can you not see it? Do you not have it?
Knowledge is the enemy of fear
when those keys are pressed, it is monetized. it is not going to be coined or printed.
since it is not coined or printed, then you can't see it. but it is not a figment of our imaginations, sadly. very sadly.
Around here (central TX), investment properties are being bid up to 100K above Zillow estimates. Much frenzied money chasing assets, along with surges in homelessness. This is not going well, and is clearly unsustainable.
Here's a warning parable for coin collectors...
Why do you use the word "imaginary"? Can you not see it? Do you not have it?
The money isn't earned in exchanged for labor, goods, or services - hence it is not real in the sense that capital wasn't expended in order for it to exist. It's conjured into existence in a criminal way, to benefit a few bankers, politicians and insiders at the expense of those who actually earn it.
Your Federal Reserve System at work. Now they're throwing $trillions around like play money, devaluing every other dollar that's out there. Amazing stuff.
It's a pretty corrupt system, but it's what we've got. Problem is, it's not sustainable and ultimately someone isn't gonna get paid. Someone else is gonna get cheated out of their life savings. Lot's of other someone elses will lose their jobs. It's happened in similar ways before...many times, in fact.
I knew it would happen.
Has "it" ( or something worse )
ever Not Happened? 🤔
Liberty: Parent of Science & Industry
So if took $10k and bought Cracker Barrel stock--because i liked the simple, cozy, homemade and hometown feel--back in 2010, then i should not be entitled to the $50k it is worth now? That i am a criminal? That i have not benefitted?
You sound like someone who put $10k into silver at the same time and its still worth 10k. Almost like jealousy or envy.
Dont worry jmski, your "illicit" gains will come in due time.
Knowledge is the enemy of fear
That's correct, according to some
If one gets some of the money "THEY keystroked into existence" because precious metals bought and held and traded increase in value, that's good and noble and smart.
If one gets some of the money "They created from nothing" by investing in stocks or real estate or building a business, well that's stupid and evil and "you're doing it wrong," they say... even if you also have some precious metals!
Gotta love this place though 😎
Liberty: Parent of Science & Industry
Could be worse, you could have put $10k into silver a decade ago and on paper now it's only worth $5k. Factor in 10 years of inflation and the story gets even more sad.
The whole worlds off its rocker, buy Gold™.
The system is both corrupt and dysfunctional on a scale never before seen.
Yes, we have gone much deeper down the rabbit hole.
Knowledge is the enemy of fear
Yeah, kids these days, with their hair and their music and their slang words. Harumph.
Liberty: Parent of Science & Industry
.
Knowledge is the enemy of fear
Just wait until the holidays. Most of our neighbors have been pleading with our landlords every month for late payments. There have been lines of angry, sad, nervous people outside the leasing office since April. It is so much worse now.
The stuff in the dumpster stopped being new TV boxes and beer and lately has been older stuff that's breaking down like burned out fans and air conditioners but those are thinning out. Landlords changed parking passes just so we have to pay rent otherwise we get towed. Essentially, it's eviction. Leave or we have the last thing you have taken away... during this.
I will spend every last cent on gold and silver. I would rather lose it all trying than ever again lose it and never giving it a go.
I am never punching a clock again. I am never again being treated like a 7th grader so I can make nothing and they can raise my student loan payments while also taking away food support. Never again getting told I'll have my car stolen by a literal legal gang if I can't pay rent. Never again hoping for someone's good graces so I can afford the $10 voucher at the food shelf. Never asking some smug 22 year old if I am allowed to pee, so he can smirk and say no just to be mean. I am done. Done, done. Done.
There are things I'm just not doing anymore. I'm tired of having my money and everything nice taken away every 10-15 years. Why even bother working? Why save? Why participate if this is always the result? I am done participating.
Why not just... YOLO all your money on gold and silver at the best time to do so in modern history?
...a lot of crazy stuff...
So I would recomend staying away from that reddit nonsense. Quit playing the victim, look in the mirror, pull up your bootstraps, and take on the world.
Knowledge is the enemy of fear
You unironically said the bootstrap thing LOL
What's crazy about never wanting to be a wage slave again?
And guy, I don't have to pull myself up by my bootstraps. I'm falling asleep every night to my hot wife and ever-growing piles of gold in my $5,000 bed.
I'm riding out this pandemic in my ivory tower while I pay people to do stuff for me. I'm all set on anything you have to offer but thanks.
The FED Now Owns Nearly One Third of All US Mortgagess
Where's a Mortgage Backed Securities failure when you need one. lol.
Give Me Liberty or Give Me Debt
The Federal Reserve has “put a lot of money into the market, and that certainly helps keep prices up, maybe above what we would expect without this intervention”.
“What the Fed is doing right now is unprecedented,” the Fed has continued on the trajectory of low interest rates since mid-2019, but also pressed on with its “quantitative easing” approach to inject liquidity into the financial system, which it had used in the aftermath of the 2008-2009 financial crisis. “In recent months, it is not only doing the traditional quantitative easing of buying treasuries and mortgage-backed securities, but also continuing to buy other assets like corporate bonds, which is something that the Fed has not done before.”
In March, in response to the pandemic, the Federal Reserve announced a stimulus package that included expanded windows for its purchase of securities and new credit facilities for businesses and municipalities. “The fact that the Fed started injecting all this money into the market pushed prices up”. The prices of assets are “mechanically pushed up” by the Fed’s act of purchasing them.
hopefully a link will be forthcoming.
Singapore has decided to stop the budget deficit creating stimulus.
Looking like the FED may have forgot to inject their daily dose of cash into the stock market today. Easy come easy go.
The whole worlds off its rocker, buy Gold™.
The inflation problem is about to get worse
"Taking these factors into account, the collapse in purchasing power of a currency which has been deployed to save financial assets and failed, once the general public finally understands the consequences, will likely be surprisingly rapid. In 1923 Germany, the final collapse took roughly six months. In 2020 America it could take as little as a few weeks."
Give Me Liberty or Give Me Debt
In 1923 Germany, the final collapse took roughly six months. In 2020 America it could take as little as a few weeks
This is barely worthy of a LOL, but ill play along.
Knowledge is the enemy of fear
How much did precious metals factor into the day to day lives of those in hyperinflated 1923 Germany?
2012 Casey Research report: Does Gold Keep Up In Hyperinflation?
"We can’t help but speculate about whether most citizens dismissed the idea of inflation during the calm period in 1920-’21. Did respected economists scoff at the idea that Germany could suffer hyperinflation, just before it struck? Did some politicians proclaim that “a little inflation would be good?”
While gold is a temporary store of value until money is needed for a transaction, the problem with any asset that holds value during hyperinflation is "do I want to exchange my asset for worthless money?" The worse inflation is the quicker one would want to spend the money received from their gold.
Give Me Liberty or Give Me Debt
Let me rephrase it. Was there a lot of bartering with precious metals on one side and food etc on the other side?
Wasn't there, try googalo.
Give Me Liberty or Give Me Debt
author wasn't there
If only we could invest in conjecture.
Knowledge is the enemy of fear
Market starting to look like what I thought was going to happen back on 7/15 when I cashed out all my stocks. Certainly left some $$$ on the table but glad to be out the last few trading days. Guess the question is will it continue?
I always seem to end up getting burnt trying to time the market, perhaps one of these days I'll just let it all ride. Wonder why I never get the urge to cash out of the gold?
The whole worlds off its rocker, buy Gold™.
Anyone going to trade their can of tomato soup for a couple of mercury dimes when we get hyperinflation?
wait and it will be worth 2 cans tomorrow!
heh, highly doubtful. We just had the great toilet paper and Lysol shortage of 2020 and it didn't matter if you had silver or even gold coins. When it comes to a real necessities such as food I doubt precious metals will do a bit good for barter. Good luck!
The whole worlds off its rocker, buy Gold™.
what if it fills a hole in your dansco?
Nothing wrong with that, whatever floats your boat.
Come to think of it I have 3 ASE dansco's all lacking the 2020 (I'm way too cheap to pay the outrageous premiums). If you want to get rid of 3 let me know. I have plenty cans of beans and sticks of butter. lol RGDS!
The whole worlds off its rocker, buy Gold™.