@jmski52 said:
If the above is all true, the question remains - what should back the currency? What we have right now isn't >working.
It's working FINE. We don't need a metal -- whose own worth is dubious -- "backing" the dollar.
The Dollar is the greatest currency on the face of the Earth and in its history. Our large, liquid, transparent financial markets -- including bond and money markets -- sets us apart. NOBODY can replicate what we provide....NOBODY.
If some of you ever managed billions of dollars...and had to do a Fed Wire transaction at 2:58 PM with a 3 PM cut-off....you'd already know this.
@jmski52 said:
If the above is all true, the question remains - what should back the currency? What we have right now isn't >working.
It's working FINE. We don't need a metal -- whose own worth is dubious -- "backing" the dollar.
The Dollar is the greatest currency on the face of the Earth and in its history. Our large, liquid, transparent financial markets -- including bond and money markets -- sets us apart. NOBODY can replicate what we provide....NOBODY.
If some of you ever managed billions of dollars...and had to do a Fed Wire transaction at 2:58 PM with a 3 PM cut-off....you'd already know this.
Can't beat the backing of a printing press. . . until you run out of paper. LOL The US has been debasing it's currency since it removed its gold backing. Default is being slowly "managed" so that it remains unnoticed.
Modern Monetary Theory (MMT) better known as the magic money tree.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
"It could be that a lot of those things don't count. In other words, that some of that stuff that we're finding is very fraudulent, therefore maybe we have less debt than we thought."
All of those 401Ks & 60/40 plans and structured portfolios now depend entirely on more money being created in larger and larger amounts. It's already too late to avoid a major crash for any assets based on debt creation by gov.com. The interest payments and unfunded liabilities have already gone exponential.
The Treasury should be issuing the currency, not a small, tight-knit trade group of special interest private bankers. End the Fed.
@jmski52 said:
All of those 401Ks & 60/40 plans and structured portfolios now depend entirely on more money being created in larger and larger amounts. It's already too late to avoid a major crash for any assets based on debt creation by gov.com. The interest payments and unfunded liabilities have already gone exponential.
The Treasury should be issuing the currency, not a small, tight-knit trade group of special interest private bankers. End the Fed.
Yawn. As the saying goes, get with the program or get left in the dust. THKS!
@jmski52 said:
All of those 401Ks & 60/40 plans and structured portfolios now depend entirely on more money being created in >larger and larger amounts. It's already too late to avoid a major crash for any assets based on debt creation by >gov.com. The interest payments and unfunded liabilities have already gone exponential.
The Treasury should be issuing the currency, not a small, tight-knit trade group of special interest private bankers. >End the Fed.
Yeah, beauracrats in The Treasury represent The People but the Fed doesn't.
You anti-Fed know-nothings should tell us how much you make each year on your investments. It's easy to post bull**** here....put your $$$ where your mouths are.
You can blame "debt" all you want but the costs are visible and paid via the rising interest we pay (about 3% of GDP). There is no crash coming based on "debt creation" no matter how many times you say it.
When or IF trouble does hit, we'll muddle through as we have always done. Your doom-and-gloom stuff is just preventing you from making $$$.
It ain't just your imagination. Sometimes, when crypto goes up, folks pull money out of metals like gold and silver to throw into digital assets, and that can cause metals to drop. It doesn’t always happen like that, though. Both markets can have their own cycles, but if you're seeing this happen often, it could be a sign of where people are shifting their money.> @TwoSides2aCoin said:
Or is this just my imagination ?
Nah, you ain’t just imaginin’ things. When crypto’s takin’ off, a lot of folks shift their money outta metals tryin’ to ride the wave. That can push gold and silver prices down a bit.
But here’s the deal—gold and silver ain’t goin’ anywhere. They’ve got real, tangible value, while crypto’s still a gamble. We’ve seen before how fast the crypto market can crash, and when it does, folks come runnin’ back to metals for safety.
So yeah, in the short run, they might move opposite, but long-term? That’s a whole different ballgame. What do y’all think? Just a fluke, or is there somethin’ to it?
Does anyone else here own crypto (in particular, BTC) but actually cheer for it to go down and maybe even for it demise? But not so you can buy more, but because you are convinced that it is just greater fool theory in action?
Does anyone else here own crypto (in particular, BTC) but actually cheer for it to go down and maybe even for it demise? But not so you can buy more, but because you are convinced that it is just greater fool theory in action?
Initially, I just figured it was the Greater Fool Theory in action. I was told that people were able to buy a pizza with it. I was curious, especially about the privacy aspect of the blockchain design. It sounded pretty good.
I could never quite justify buying any crypto although I wish that I'd dipped a toe into the pond at some point. Now we hear about security breaches, crypto as a Trojan Horse into a CBDC control system, the limited utility of Bitcoin, time lags and extra transaction surcharges, etc. Now it doesn't sound quite so good, even though I still think about buying one of them.
Given the shortcomings of both crypto and fiat, here really is no substitute for physical precious metals. Besides central banks persistent buying, several analysts keep mentioning that the percentage of gold in managed portfolios is only a 0.5% allocation, compared to a historic allocation between 5% to 10%, which has significant implications as more attention turns to the performance of gold and the inevitable bond market & government finance problems.
I keep thinking that there is a greater fundamental justification for gold's price to be above the price of Bitcoin, but boy was I wrong about that. With all of the talk about gold-backed bonds and a crypto strategic reserve, you have to wonder just WTF is going on.......
I could never quite justify buying any crypto although I wish that I'd dipped a toe into the pond at some point. Now we hear about security breaches, crypto as a Trojan Horse into a CBDC control system, the limited utility of Bitcoin, time lags and extra transaction surcharges, etc. Now it doesn't sound quite so good, even though I still think about buying one of them.
Given the shortcomings of both crypto and fiat, here really is no substitute for physical precious metals.
I keep thinking that there is a greater fundamental justification for gold's price to be above the price of Bitcoin, but boy was I wrong about that. With all of the talk about gold-backed bonds and a crypto strategic reserve, you have to wonder just WTF is going on.......
I would suggest reading, The Bitcoin Standard: The Decentralized Alternative to Central Banking 1st Edition
by Saifedean Ammous. I did not understand Bitcoin before reading this book.
You are choosing to give a narrative that fulfills your beliefs. Crypto, fiat and precious metals all have shortcomings. They all also have benefits. Everyone should invest in what they are comfortable with.
I once thought that a dollar backed crypto would lead to a CBDC control system as well. This is just not the case if you look into XRP or others as a blockchain that lowers transaction costs and keeps the government out of transactions (a gov't run crypto is a different story). Visa and Mastercard should be concerned.
BTC/Crypto markets are largely correlated with stocks these days. Gold still rules as an uncorrelated asset to diversify risk in a portfolio. In Gold We Trust folks crunched some numbers and claim gold should be 40% of a portfolio to maximize gains:
Thanks @pmbug. There is no doubt that there are folks pushing XRP in social media. The crypto market is really the wild west.
Full disclosure, I own about $500 of XRP. If it goes to $0 I will survive as I realize the risk. I once thought it was a house of cards but now think it does have some practical value. Maybe it is FOMO and I got sucked in.
I agree that gold is uncorrelated and diversifies risk. It worries me that all the talking heads on business news are now on the gold train. A lot of Wall St investors (and retail investors) are not long term. When the FED lowers rates, they will pull out of gold.
I agree that gold is uncorrelated and diversifies risk. It worries me that all the talking heads on business news are now on the gold train. A lot of Wall St investors (and retail investors) are not long term. When the FED lowers rates, they will pull out of gold.
I'm not so sure about the "A lot...are not long term" part. Some, sure, but- (and granted, this is anecdotal) we're seeing a lot of new faces getting into PMs/constitutional/etc. that are tired of gambling everything in the Wall St. casino and they are flat out telling me that they're buying to diversify and hold. And I can't believe we're the only ones hearing this. And I've been hearing it even when the Dow went crazy because many are still shell shocked from 08-09, even after having recovered their losses. jmho
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
.
Jealousy does not look good on you (or on anyone).
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
.
If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
.
If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
.
Since your assumption is wrong, your conclusion is as well.
I do not hate coins, coin collecting or coin collectors. I do have a love of facts, accurate analysis, logic and reason. If you do not love, or at least like, the things I do, then perhaps you are the antagonist.
Maybe you would like to participate in bringing the thread back to the OP and discuss how or why in the last 2 months crypto has declined and metals risen.
Or, maybe you'd like to discuss the timing of the OPs thread as he almost perfectly noted a.top in crypto. You like to antagonize by calling out supposed contrarian calls,.so maybe this is a good example. Care to share your knowledge of individual financial psychology?
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
.
Jealousy does not look good on you (or on anyone).
.
Guess I will have to check with the Chinese. The quality would probably be better anyways. RGDS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
.
Jealousy does not look good on you (or on anyone).
.
Guess I will have to check with the Chinese. The quality would probably be better anyways. RGDS!
.
Go right ahead. You can show the final product here when you get some.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
.
If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
.
Since your assumption is wrong, your conclusion is as well.
I do not hate coins, coin collecting or coin collectors. I do have a love of facts, accurate analysis, logic and reason. If you do not love, or at least like, the things I do, then perhaps you are the antagonist.
Maybe you would like to participate in bringing the thread back to the OP and discuss how or why in the last 2 months crypto has declined and metals risen.
Or, maybe you'd like to discuss the timing of the OPs thread as he almost perfectly noted a.top in crypto. You like to antagonize by calling out supposed contrarian calls,.so maybe this is a good example. Care to share your knowledge of individual financial psychology?
.
I don't believe anything you write.
And you derailed the thread when you broadly insulted a segment of the population.
I called you on that.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
.
If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
.
Since your assumption is wrong, your conclusion is as well.
I do not hate coins, coin collecting or coin collectors. I do have a love of facts, accurate analysis, logic and reason. If you do not love, or at least like, the things I do, then perhaps you are the antagonist.
Maybe you would like to participate in bringing the thread back to the OP and discuss how or why in the last 2 months crypto has declined and metals risen.
Or, maybe you'd like to discuss the timing of the OPs thread as he almost perfectly noted a.top in crypto. You like to antagonize by calling out supposed contrarian calls,.so maybe this is a good example. Care to share your knowledge of individual financial psychology?
.
I don't believe anything you write.
And you derailed the thread when you broadly insulted a segment of the population.
I called you on that.
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
@RedneckHB said:
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
.
"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
.
OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
.
If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
.
Since your assumption is wrong, your conclusion is as well.
I do not hate coins, coin collecting or coin collectors. I do have a love of facts, accurate analysis, logic and reason. If you do not love, or at least like, the things I do, then perhaps you are the antagonist.
Maybe you would like to participate in bringing the thread back to the OP and discuss how or why in the last 2 months crypto has declined and metals risen.
Or, maybe you'd like to discuss the timing of the OPs thread as he almost perfectly noted a.top in crypto. You like to antagonize by calling out supposed contrarian calls,.so maybe this is a good example. Care to share your knowledge of individual financial psychology?
.
I don't believe anything you write.
And you derailed the thread when you broadly insulted a segment of the population.
I called you on that.
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Insulted? Derailed?
You project too much.
I will NEVER care if you believe me.
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Most "little old ladies" give far better financial advice than you ever have (or will).
For the majority of crypto players it is simply a tulip type speculation transaction. One side of the trade makes money, the other side does not. Most players realize there is no substance to what they are buying. They are simply banking on an increase in demand.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
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that's why you hold both of them. I believe they have a word for that.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
That word isn't diversification.
It's working FINE. We don't need a metal -- whose own worth is dubious -- "backing" the dollar.
The Dollar is the greatest currency on the face of the Earth and in its history. Our large, liquid, transparent financial markets -- including bond and money markets -- sets us apart. NOBODY can replicate what we provide....NOBODY.
If some of you ever managed billions of dollars...and had to do a Fed Wire transaction at 2:58 PM with a 3 PM cut-off....you'd already know this.
God bless the USD. RGDS!
Can't beat the backing of a printing press. . . until you run out of paper. LOL The US has been debasing it's currency since it removed its gold backing. Default is being slowly "managed" so that it remains unnoticed.
Modern Monetary Theory (MMT) better known as the magic money tree.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
$36 trillion of transparent dollars created from nothing - what could go wrong? Sounds like a scam to me.
Sounds like the real world to me. Digits. BOOMIN!™ THKS!
Apparently there is less debt than thought...
https://www.reuters.com/markets/us/trump-says-us-might-have-less-debt-than-thought-2025-02-09/
"It could be that a lot of those things don't count. In other words, that some of that stuff that we're finding is very fraudulent, therefore maybe we have less debt than we thought."
Give me your dollars, I'll take them off your hands.
If ones PM or crypto holdings increase in value, are they benefitting from this "scam"?
All of those 401Ks & 60/40 plans and structured portfolios now depend entirely on more money being created in larger and larger amounts. It's already too late to avoid a major crash for any assets based on debt creation by gov.com. The interest payments and unfunded liabilities have already gone exponential.
The Treasury should be issuing the currency, not a small, tight-knit trade group of special interest private bankers. End the Fed.
Yawn. As the saying goes, get with the program or get left in the dust. THKS!
Yeah, beauracrats in The Treasury represent The People but the Fed doesn't.
You anti-Fed know-nothings should tell us how much you make each year on your investments. It's easy to post bull**** here....put your $$$ where your mouths are.
You can blame "debt" all you want but the costs are visible and paid via the rising interest we pay (about 3% of GDP). There is no crash coming based on "debt creation" no matter how many times you say it.
When or IF trouble does hit, we'll muddle through as we have always done. Your doom-and-gloom stuff is just preventing you from making $$$.
Why ? Because YOU say so ?
Who runs the Treasury, a permanant cabal of Inside The Beltway Elites ?
Anyone keeping an eye on the Bitcoin/silver ratio?
I didn't think so.
No, but I must confess I own both. RGDS!
It ain't just your imagination. Sometimes, when crypto goes up, folks pull money out of metals like gold and silver to throw into digital assets, and that can cause metals to drop. It doesn’t always happen like that, though. Both markets can have their own cycles, but if you're seeing this happen often, it could be a sign of where people are shifting their money.> @TwoSides2aCoin said:
Nah, you ain’t just imaginin’ things. When crypto’s takin’ off, a lot of folks shift their money outta metals tryin’ to ride the wave. That can push gold and silver prices down a bit.
But here’s the deal—gold and silver ain’t goin’ anywhere. They’ve got real, tangible value, while crypto’s still a gamble. We’ve seen before how fast the crypto market can crash, and when it does, folks come runnin’ back to metals for safety.
So yeah, in the short run, they might move opposite, but long-term? That’s a whole different ballgame. What do y’all think? Just a fluke, or is there somethin’ to it?
North Korea strikes again.
$1.5 billion this time.
Certainly instills confidence. Lol
Does anyone else here own crypto (in particular, BTC) but actually cheer for it to go down and maybe even for it demise? But not so you can buy more, but because you are convinced that it is just greater fool theory in action?
Hope you're still sitting pretty RobM as we were on the same page years ago.
I still have my little chunk of shibu, took some nice 10x doge profits a couple years ago but am up 100% on that one still (shib).
Might be interesting soon with the current admin pushing for a country crypto reserve. The swings the past month or so have been insane.
Does anyone else here own crypto (in particular, BTC) but actually cheer for it to go down and maybe even for it demise? But not so you can buy more, but because you are convinced that it is just greater fool theory in action?
Initially, I just figured it was the Greater Fool Theory in action. I was told that people were able to buy a pizza with it. I was curious, especially about the privacy aspect of the blockchain design. It sounded pretty good.
I could never quite justify buying any crypto although I wish that I'd dipped a toe into the pond at some point. Now we hear about security breaches, crypto as a Trojan Horse into a CBDC control system, the limited utility of Bitcoin, time lags and extra transaction surcharges, etc. Now it doesn't sound quite so good, even though I still think about buying one of them.
Given the shortcomings of both crypto and fiat, here really is no substitute for physical precious metals. Besides central banks persistent buying, several analysts keep mentioning that the percentage of gold in managed portfolios is only a 0.5% allocation, compared to a historic allocation between 5% to 10%, which has significant implications as more attention turns to the performance of gold and the inevitable bond market & government finance problems.
I keep thinking that there is a greater fundamental justification for gold's price to be above the price of Bitcoin, but boy was I wrong about that. With all of the talk about gold-backed bonds and a crypto strategic reserve, you have to wonder just WTF is going on.......
Vance, Sacks, Theil, Lutkin, Musk and many others "in charge" are interconnected and have interests in crypto.
I would suggest reading, The Bitcoin Standard: The Decentralized Alternative to Central Banking 1st Edition
by Saifedean Ammous. I did not understand Bitcoin before reading this book.
You are choosing to give a narrative that fulfills your beliefs. Crypto, fiat and precious metals all have shortcomings. They all also have benefits. Everyone should invest in what they are comfortable with.
I once thought that a dollar backed crypto would lead to a CBDC control system as well. This is just not the case if you look into XRP or others as a blockchain that lowers transaction costs and keeps the government out of transactions (a gov't run crypto is a different story). Visa and Mastercard should be concerned.
XRP is the one I am still considering, but I will need to know more first. Thank-you.
I wrote some harsh words about Ripple (XRP) about a year ago (and I didn't even mention the terrible tokenomics):
https://www.pmbug.com/threads/ripple-pumpers-selling-out-humanity-for-personal-profit.7536/
BTC/Crypto markets are largely correlated with stocks these days. Gold still rules as an uncorrelated asset to diversify risk in a portfolio. In Gold We Trust folks crunched some numbers and claim gold should be 40% of a portfolio to maximize gains:
https://x.com/pmbug/status/1895460235864838552
Yelling at clouds on pmbug.com
Thanks @pmbug. There is no doubt that there are folks pushing XRP in social media. The crypto market is really the wild west.
Full disclosure, I own about $500 of XRP. If it goes to $0 I will survive as I realize the risk. I once thought it was a house of cards but now think it does have some practical value. Maybe it is FOMO and I got sucked in.
I agree that gold is uncorrelated and diversifies risk. It worries me that all the talking heads on business news are now on the gold train. A lot of Wall St investors (and retail investors) are not long term. When the FED lowers rates, they will pull out of gold.
I agree that gold is uncorrelated and diversifies risk. It worries me that all the talking heads on business news are now on the gold train. A lot of Wall St investors (and retail investors) are not long term. When the FED lowers rates, they will pull out of gold.
I'm not so sure about the "A lot...are not long term" part. Some, sure, but- (and granted, this is anecdotal) we're seeing a lot of new faces getting into PMs/constitutional/etc. that are tired of gambling everything in the Wall St. casino and they are flat out telling me that they're buying to diversify and hold. And I can't believe we're the only ones hearing this. And I've been hearing it even when the Dow went crazy because many are still shell shocked from 08-09, even after having recovered their losses. jmho
RIP Mom- 1932-2012
I am pretty well-connected to Wall Street and investment money managers.
I am seeing very little activity in actually buying gold or gold coins.
Are they buying "coins" that no one has ever seen?
The Private Banks I worked for had many people who live in Manhattan, many "old money" types. I would say that 1 out of 10 held personal gold and maybe 1 out of 20 had pre-1933 gold (as opposed to modern gold coins).
For some reason, older women seem to have gold more than other demograpic groups.
Apparently i wasn't clear....by "coins no one has ever seen", I meant crypto. What activity do you see your Wall Street connections doing in this area?
But yes, little old ladies (widows) do hold gold coins that their husband's accumulated. They don't know what to do with them, don't understand them, but continue to hold due to loyalty to their spouse. When they die, the kids keep one coin for sentimental reasons and sell the rest at the pawn shop.
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"Little old ladies" can be quite a bit more savvy than you give them credit for.
Your disparaging them as know-nothings is not appreciated.
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From the guy who spends his days manufacturing and attempting to peddle overpriced trinkets. Join the real world.....PLS! Any updates on the "in gutter we trust" fantasy coin? THKS!
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Jealousy does not look good on you (or on anyone).
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OK Karen.
How about "big old ladies"?
That should cover both Dorothy and Sophia.
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If you two hate coins, coin collecting, and coin collectors so much, then why do you spend time here ?
It seems the only reason is to get some weird satisfaction from trying to antagonize other people.
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Since your assumption is wrong, your conclusion is as well.
I do not hate coins, coin collecting or coin collectors. I do have a love of facts, accurate analysis, logic and reason. If you do not love, or at least like, the things I do, then perhaps you are the antagonist.
Maybe you would like to participate in bringing the thread back to the OP and discuss how or why in the last 2 months crypto has declined and metals risen.
Or, maybe you'd like to discuss the timing of the OPs thread as he almost perfectly noted a.top in crypto. You like to antagonize by calling out supposed contrarian calls,.so maybe this is a good example. Care to share your knowledge of individual financial psychology?
Guess I will have to check with the Chinese. The quality would probably be better anyways. RGDS!
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Go right ahead. You can show the final product here when you get some.
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I don't believe anything you write.
And you derailed the thread when you broadly insulted a segment of the population.
I called you on that.
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Insulted? Derailed?
You project too much.
I will NEVER care if you believe me.
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Most "little old ladies" give far better financial advice than you ever have (or will).
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Back on topic, please
For the majority of crypto players it is simply a tulip type speculation transaction. One side of the trade makes money, the other side does not. Most players realize there is no substance to what they are buying. They are simply banking on an increase in demand.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
.> @Wingsrule said:
I'm trying but I got this groupie that keeps antagonizing me.
No, he keeps calling you out.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards