General Category > Sustenance

Silver and Gold

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pkveazey:
OK, OK, OK........ We all know that I'm a Silver Stacker. Therefore, I'm going to be pro PM no matter what. Now, There actually are a lot of people out there that have no clue that there is a huge difference between REAL SILVER and PAPER SILVER. The price of REAL SILVER is based off of the price of PAPER SILVER. Why we price them that way is about as stupid as pricing Chicken Feathers by the pound to Chickens by the pound. One is worthless and the other is not. I hear the "You can't eat Gold or Silver" all the time and it is absolutely true. Now, try to hire a Lawyer or Doctor or Engineer and offer to trade him some chickens for his services. There are just some things that you are not going to be able to Barter for. Now, I do think that putting everything you have into Gold or Silver and nothing else is complete insanity. The bottom line is....... You better have some PM's in your prepping items.

FeedingFreedom:
JP Morgan has been artificially (and criminally) keeping the price of "paper" silver low for a long time. Best get some before they lose control of the market, because the price will go stratospheric almost instantly.

I always buy a little silver from a person I know well, I pay cash, and he knows that I'm not interested in numismatic coins in any way. He saves the junk silver for me, every month or so, I swing in and tell him how much I want, we sort through the coins he has, and I get the pick of the litter. A few dollars here and there adds up, I hardly notice the expense, and I know that I have something that will never have a value of zero, or worse, negative value like fiat dollars.

Nemo:
Gold is going up.  Big time.

Nemo


https://www.marketwatch.com/story/gold-is-officially-outperforming-stocks-in-2023-as-october-rally-continues-40adda1b



--- Quote ---Gold is officially outperforming stocks in 2023 as October rally continues
Last Updated: Oct. 26, 2023 at 5:08 p.m. ET
First Published: Oct. 26, 2023 at 5:02 p.m. ET
By Joseph Adinolfi

It?s official: gold is officially outperforming the S&P 500 stock index in 2023 due to an October rally that has brought the price of an ounce of the yellow metal to the cusp of the $2,000 mark, a level it hasn?t seen since May.

Metals traders attributed gold?s gains to a surge in demand for hedges and safety plays following Hamas?s Oct. 7 attack on Israel, which provoked a war between Israel and the group that is deemed a terrorist organization by the U.S. and European Union.

?The brutal Hamas attack on Israel sent shock waves around the world ? and sent the price of gold soaring,? said Brien Lundin, editor of Gold Newsletter, in a monthly outlook shared with MarketWatch.

As of Thursday?s close, the S&P 500 SPX had gained 7.8% since Jan. 1, while front-month gold futures have gained 9.2% during the same period, according to Dow Jones Market Data.

Continued


--- End quote ---

Felix:
Thanks for the update, Nemo.
I pulled a Krugerand out of the safe to exchange for folding green, had a shop in town going to give me $1950. for it.   I suspected he was making a very good bet but needed the cash for an important and (hopefully) discreet purchase.   Turns out I was able to scrape the needed cash together in time and didn't have to send Mister Kruger away.     
Now, you make me glad I didn't take the bet.
 (but the "smart money" knows that cash is going to keep eroding due to inflation - of a structural, unavoidable, and even _planned_ nature.)

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