So we're going to jump from 1913 to 1971 so you look smart?
How about this... why don't you figure how much that dollar earned in interest since 1913? That dollar in the bank suddenly becomes worth more than 3c now, doesn't it?
@hchcoin said:
That's a convincing argument derryb!
Hchcoin, that same $10,000 in the SP500 in 1971 would be worth $914,000 today. Now that's convincing.
Thanks, helps prove the point that holding cash in any form long term is not the way to go. Real Estate is another good option. Like I said earlier in this thread inflation/currency destruction are the reason to not keep an estate in cash. Your help in making a point is always appreciated.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Or, in 1971 try putting the $10k into a little two bedroom house in downtown Palo Alto, Los Gatos, Saratoga, etc...
Two million today, easy.
It's why the "silver or FRNs?" question is such a straw man: NO ONE suggests holding cash for years, and there are numerous alternatives to silver, or more precisely, assets one can hold IN ADDITION to their bulky and non-income producing, non useful silver.
@cohodk said:
nobody holds cash anyway, so it's a really stupid argument.
Total US bank deposits for the third quarter of 2016 were $12.8 trillion.
All that cash belongs to nobody? LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@cohodk said:
There is not even $12 trillion in cash printed, of all countries, combined.
Good luck explaining that to all the bank account holders who think their money is stacked in the banks vault. LOL
Here's how it works: A house of cards fractional banking system. Sorta like a gold futures system. Many of those deposits (now promises) ain't really there. Why don't we get everyone in the country to show up at their bank tomorrow to try to withdraw all their money at once. FDIC would fold in the first two minutes.
Thanks for pointing out the great American banking mirage.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
_ Why don't we get everyone in the country to show up at their bank tomorrow to try to withdraw all their money at once. FDIC would fold in the first two minutes._
Same reason we don't try to get everyone in the country to flush their toilets in the same moment.
Because it works just fine when folks use the systems normally.
but when even an individual tries to flush their giant load, the ass gasket, and half a roll of toilet paper in one flush, well, they experience the same kind of trouble that an individual experiences when they try to deposit or withdraw $250k in $10 and $20 bills... there's going to be a backup and someone is going to have to call maintenance to have a look at what this idiot is trying to do.
@cohodk said:
Baley, even 1923 paper $1 bills will cost 10-15 oz of silver to acquire today. That's quite a bit more than the 0.77 oz it would have taken in 1923.
Or even the guy who saved Indian cents sees them equal to 100 zincon cents today.
For derryb, nobody holds cash anyway, so it's a really stupid argument.
Mesquite said: jmski52 - is your set ratio based on current monetary value or on total oz of each metal?
Mesquite, I try to stay at a constant ratio of silver:gold:platinum, based on current valuations.
I never paid much attention to a correlation between silver & platinum until about 10 years ago when I started settling on a portfolio rebalancing approach based strictly on metals, but I've noticed that silver and platinum track pretty much the same and they do a good job of buffering changes in the POG, and vice versa.
My previous goal was 25:50:25, but recently it's dipped to around 15:70:15, so I've been beefing up my Plats and AG to bring it closer to the goal. A set ratio doesn't function as intended if you aren't faithful to keeping the ratios in line.
From my perspective, silver and platinum are cheap right now. But I dunno, maybe I screwed up for the past 3 years.
Q: Are You Printing Money? Bernanke: Not Literally
I'm beginning to think that silver and platinum are interchangeable for investment purposes, but I'm wary of dumping silver to double-up on platinum. From a liquidity standpoint, silver will always be more sell-able.
Q: Are You Printing Money? Bernanke: Not Literally
Just received 120 more ASE's. Guess I have enough until the next bonus bucks offer (the best way to buy ASE's). Bought the 120 at an average of .52 ea. over spot after bucks.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Congrats derryB! That's the way to do it. I know nothing about eBay discounts or special offers. I don't think I use it enough to qualify for any of those deals. I'll have to educate myself and see if I can take advantage of those offers.
Not now. The question; however, would be relative to the spot price of silver- if it hit somewhere close to February of 1980, i'd consider unloading my happy little burden.
Comments
That's a convincing argument derryb!
So we're going to jump from 1913 to 1971 so you look smart?
How about this... why don't you figure how much that dollar earned in interest since 1913? That dollar in the bank suddenly becomes worth more than 3c now, doesn't it?
Knowledge is the enemy of fear
Hchcoin, that same $10,000 in the SP500 in 1971 would be worth $914,000 today. Now that's convincing.
Knowledge is the enemy of fear
That's even better cohodk
Thanks, helps prove the point that holding cash in any form long term is not the way to go. Real Estate is another good option. Like I said earlier in this thread inflation/currency destruction are the reason to not keep an estate in cash. Your help in making a point is always appreciated.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Or, in 1971 try putting the $10k into a little two bedroom house in downtown Palo Alto, Los Gatos, Saratoga, etc...
Two million today, easy.
It's why the "silver or FRNs?" question is such a straw man: NO ONE suggests holding cash for years, and there are numerous alternatives to silver, or more precisely, assets one can hold IN ADDITION to their bulky and non-income producing, non useful silver.
It is shiny and clinky, I'll give it that
Liberty: Parent of Science & Industry
Baley, even 1923 paper $1 bills will cost 10-15 oz of silver to acquire today. That's quite a bit more than the 0.77 oz it would have taken in 1923.
Or even the guy who saved Indian cents sees them equal to 100 zincon cents today.
For derryb, nobody holds cash anyway, so it's a really stupid argument.
Knowledge is the enemy of fear
Total US bank deposits for the third quarter of 2016 were $12.8 trillion.
All that cash belongs to nobody? LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
There is not even $12 trillion in cash printed, of all countries, combined.
You really don't understand how all this works.
Knowledge is the enemy of fear
Good luck explaining that to all the bank account holders who think their money is stacked in the banks vault. LOL
Here's how it works: A house of cards fractional banking system. Sorta like a gold futures system. Many of those deposits (now promises) ain't really there. Why don't we get everyone in the country to show up at their bank tomorrow to try to withdraw all their money at once. FDIC would fold in the first two minutes.
Thanks for pointing out the great American banking mirage.
Actually $13.2T in the US alone (if you count the promises) LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
_ Why don't we get everyone in the country to show up at their bank tomorrow to try to withdraw all their money at once. FDIC would fold in the first two minutes._
Same reason we don't try to get everyone in the country to flush their toilets in the same moment.
Because it works just fine when folks use the systems normally.
but when even an individual tries to flush their giant load, the ass gasket, and half a roll of toilet paper in one flush, well, they experience the same kind of trouble that an individual experiences when they try to deposit or withdraw $250k in $10 and $20 bills... there's going to be a backup and someone is going to have to call maintenance to have a look at what this idiot is trying to do.
Liberty: Parent of Science & Industry
Doesn't need to be backed by cash. I doubt Tim Cook throws $400 in cash into his desk drawer every time someone buys an iPhone. Just sayin.
Joaquin Guzman was known to favor it.
Why don't we have everyone take their gold to the smelters tomorrow..or everyone can put their house up for sale, or maybe an asteroid will hit Earth.
Boo!!
Knowledge is the enemy of fear
Mesquite said: jmski52 - is your set ratio based on current monetary value or on total oz of each metal?
Mesquite, I try to stay at a constant ratio of silver:gold:platinum, based on current valuations.
I never paid much attention to a correlation between silver & platinum until about 10 years ago when I started settling on a portfolio rebalancing approach based strictly on metals, but I've noticed that silver and platinum track pretty much the same and they do a good job of buffering changes in the POG, and vice versa.
My previous goal was 25:50:25, but recently it's dipped to around 15:70:15, so I've been beefing up my Plats and AG to bring it closer to the goal. A set ratio doesn't function as intended if you aren't faithful to keeping the ratios in line.
From my perspective, silver and platinum are cheap right now. But I dunno, maybe I screwed up for the past 3 years.
I knew it would happen.
I'm beginning to think that silver and platinum are interchangeable for investment purposes, but I'm wary of dumping silver to double-up on platinum. From a liquidity standpoint, silver will always be more sell-able.
I knew it would happen.
Just received 120 more ASE's. Guess I have enough until the next bonus bucks offer (the best way to buy ASE's). Bought the 120 at an average of .52 ea. over spot after bucks.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Congrats derryB! That's the way to do it. I know nothing about eBay discounts or special offers. I don't think I use it enough to qualify for any of those deals. I'll have to educate myself and see if I can take advantage of those offers.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
Not now. The question; however, would be relative to the spot price of silver- if it hit somewhere close to February of 1980, i'd consider unloading my happy little burden.
derryb, Love your chart! Can I copy it? pretty please?
A money manager said to have a min 10% of net worth in Gold/Silver.
100% Positive BST transactions
Have you ever reached a momentary point in time when you said "I have enough silver" ?
Only The Hunt Brothers have ever had "Enough Silver"