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I'll back up bollio-loco. I grew up during those years and even if I avoided the prosperity part they were good years. The upper crust of this country became very threatened when factory workers could afford vacations in Miami and trips to National Parks so they turned the economy around beginning with the Vietnam War. The prosperity of the lower and middle working people has been successful transferred to the top 1% and all is right with the world.
BTW – Gold is a suckers market just as real estate once was. It is vastly overpriced.
BTW – Gold is a suckers market just as real estate once was. It is vastly overpriced.
I'm beginning to agree with this. And it's likely by design (I mean beyond the advertisers that want to sell you gold IRAs and cute little koala coins); another way to siphon wealth.
I covered this on my radio show last Friday. People who bought a few rounds of gold or silver have begun to request for delivery of the metal they "own". Those who sold the certificates have told the "owners" there may be "some delay" in shipment. Gee, What a surprise. Fractional reserve has come to precious metals. Of course this has been happening for thousands of years, but each generation is somehow surprised at this.
A hundred years ago in 1913 you could buy a cow with a $20 gold piece. Today you can buy a cow with that same gold piece, so what has happened? The real value of gold has not changed. The real value of a cow has not changed, but a $20 FRN does not get you very far down the meat counter.
Germany has asked for the gold we hold for them to be shipped back to Germany. Uh, there might be some delay in the shipment of the gold you own. Where have we heard that before? The system is unraveling folks. Take delivery of the metal you own. Do it now.
BTW – Gold is a suckers market just as real estate once was. It is vastly overpriced.
Depends on which gold you're talking about -- "paper gold" or "physical gold". You can't buy physical for spot (the paper price) anymore; the premiums are so high that you end up paying the price from last year for physical. Furthermore, as NMLM said, physical gold and silver are getting hard to find in any quantity. You can still get it on eBay for an outrageous price; those prices will not seem so outrageous soon.
It will come to pass: if you don't have any gold or any silver (physical), you won't have any money. Take it from an "old" guy.
There used to be bins full of "silver rounds" at the local coins shops around here that were bought and sold regularly. Now there is absolutely nothing. The coin shop is taking prepaid orders on new rounds with no idea when they will actually arrive--months out at best.
It's an interesting situation with the spot price on gold and silver being so low, yet there is none to be found. In an "un-tampered with" market, that would NEVER happen. Of course, the gold/silver market has a lot of "vapor" in it--many folks own "gold" in an empty vault somewhere. I think something is really fishy, but I'm not sure which way to go with my thinking on this. I mean, really, it's not like the dollar is in such great shape. It's value hasn't suddenly gone through the roof--no prices have suddenly fallen drastically. Interesting situation.
I'll back up bollio-loco. I grew up during those years and even if I avoided the prosperity part they were good years. The upper crust of this country became very threatened when factory workers could afford vacations in Miami and trips to National Parks so they turned the economy around beginning with the Vietnam War. The prosperity of the lower and middle working people has been successful transferred to the top 1% and all is right with the world.
BTW – Gold is a suckers market just as real estate once was. It is vastly overpriced.
Indeed it is. It also makes a horrible alternative currency as you'd have to hacksaw off bits of it even if you could get someone willing to exchange actual goods for it.
Ever hear of "pieces of eight"? An "eight" was 1/8 of a Spanish Silver Doubloon. They physically cut the original coin in pieces for smaller transactions.
After reading about this '"vapor" gold I am doubly glad I refrained from buying any.
Ever hear of "pieces of eight"? An "eight" was 1/8 of a Spanish Silver Doubloon. They physically cut the original coin in pieces for smaller transactions.
After reading about this '"vapor" gold I am doubly glad I refrained from buying any.
The Norse used what they called "Hack Silver" which was an armband made from silver that you used an ax to "hack" off a piece to pay for what you were buying.
The pieces of eight were also the reason we call a quarter "2 bits", half dollar is "4 bits", 3/4 of a dollar is "6 bits".
Probably the only time the younger folks have heard about this is in high school cheers. 2 bits 4 bits 6 bits a dollar, all for the XXXXXX stand up and hollar
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