I’m trying to figure out the most cost effective way to buy. I might need to buy a sandwich after the monetary system fails. Any experienced buyers out there? The premium on metals is expensive. I hate to take a loss on the front end but unless I open a pawn shop the premium looks to be unavoidable
Anybody buying silver or gold yet?
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Nah. I’m to poor to buy gold. I stocked up on emergency food rations during the great flood a few years back. It’s either 60 or 90 days worth with a 30 year shelf life. I thought it was just wasting space in my closet………. Until Joe Biden became Potus and showed us that a food shortage is a very real possibility. At least won’t starve the first few months.
LOL
A true food shortage is as unlikely as a Gamecock win over the Bills.
Clark Howard on his podcast talked about how unlikely that was a few weeks back. He said it just wasn't reasonable given the way the food supply chain works.
But a lot number of companies love to use scare tactics to sell those emergency supplies. What a waste.
Now, having a week worth of food or slightly more if you are in hurricane areas is a good idea due to natural disasters. My wife keeps 4-5 packs of dried beans of various varieties in our pantry along with 5-6 cans of soup as our “emergency” supply but that’s it- total of less than $25
During and after the Ebola scare several years ago, I realized just how unprepared I was if things really got bad. Over the course of a few years I bought and built up a supply of emergency food and canned water that have a decades long shelf life. I would have enough for at least two years for my parents and me. It gives me some peace of mind.
don’t listen to the radio commercials or the tv media. Good has not done what they say it is supposed to do. “It’s a hedge against inflation”. “It reacts opposite to the stock market”
It really doesn’t. It may hold its value some, but it’s not a hedge against anything.
It really doesn’t. It may hold its value some, but it’s not a hedge against anything.
I keep waiting on William DeVane to make his mind up so I will know which way to go. But one commercial is silver, the next one gold. I'm so confused. The even more foolish one is with the so called four experts. Basically the same commercial for the last five years where they guarantee that precious metals are about to take off. But they keep running it, so I guess simpletons are calling
I do hold a lot of pre-1965 quarters, dimes and silver dollars that I collected as a kid in the 1960s, in a safe deposit box with other valuables. Those coins consist of 90% silver. From the mid-60s on, they were made of copper and nickel. The last I checked, silver was under $20 per ounce. If silver ever takes off (not holding my breath), that would be great. If not, those coins will be part of my estate.
Yeah one simpleton in Texas just bought $27,000,000 in silver dollars last week. Lol
If he has $27 mil to potentially throw away, my guess is that he is worth significantly more than that. Simpleton? Definitely possible. Filthy rich? Probably.
In an industry where there are only a couple of players, shortages can happen. When my 3 kids were little, we had quite a pantry full of baby food and such items because as we were told, there were only a handful of manufacturers. That's still the case.
But for basic life saving staples- normal every day food products- there are many options and many suppliers.
Clark Howard addresses this at 28:18 in his podcast on August 8th
"There is a lot of crazy stuff on social media. There is a lot of smoke but maybe a little fire"
"having a small amount of emergency supplies is ok"
"Having a couple of weeks of food and water available is ok- along with cash"
"in terms of severe food shortages, there is no way that is happening."
You just can't count on good these days...
I'm interested to see if gold/silver will fly again too. The charts looks ready if the macro environment turns any worse.
One big question is: Do people still trust/believe that precious metals are scarce? Musk believe there's an endless supply in space. The Chinese have also been counterfeiting. Is Bitcoin (Gold 2.0) ready for primetime?
Then there's the potential upcoming CBDCs which Powell has suggested could happen in Q1 of 2023. What a overreach disaster that would be as the government could just shut off your money on a whim (hello Canada and China.) It also does nothing to quell the M2 issue.
One big question is: Do people still trust/believe that precious metals are scarce? Musk believe there's an endless supply in space. The Chinese have also been counterfeiting. Is Bitcoin (Gold 2.0) ready for primetime?
Then there's the potential upcoming CBDCs which Powell has suggested could happen in Q1 of 2023. What a overreach disaster that would be as the government could just shut off your money on a whim (hello Canada and China.) It also does nothing to quell the M2 issue.
Bitcoin is a farce! I can’t believe people
Are still falling for that.
It was supposedly a hedge against a down market, but it went down like a rock with the stock market.
It's currently acting as a risk-on asset moving just like the Russell, tech, etc. The US Government is scared to death of BTC and uses the threat of regulation almost on a daily basis to try to suppress. Then there are the unregulated overseas exchanges which allow wash trading.
If you just look at the on-chain data, all of the big players continue to scoop up on the OTC market. At some point, liquidity will likely pour in. It could lead the charge if Congress splits in November. Historically Wall Street loves the divide because gets done at the Federal level in terms of spending.
But bitcoin gets its value from the same place gold gets it - people have determined that it has value, and so it does. And with the scarcity of each, there is a natural defense against inflation and holding the value assigned to it. That said, each is inherently valueless and humans are strange creatures.
Of course gold has been looked at as valuable for much longer than Bitcoin (literal millennia longer), but Bitcoin at least has commercial viability for transactions across the globe and at the click of a button. So it at least seems like it has the markers for success, wherein gold is just a valueless metal that sits in a safe deposit box or under one's bed.
Agree. Though I think you could argue Bitcoin is far more sound money than the dollar at this point....Proof-of-work + mathematics/scarcity versus a money printer + our military.
Yes, I read she is a Billionaire. Even if her investment goes to zero, we won't find her on a street corner with a tin cup in her hand.
That was not my point. I am saying she would have no worries regardless of her investments.
By the way, gold and silver miners can go to zero, regardless of the underlying metal, not to say she is investing in the miners themselves, as well.
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That's why I stated it: "NOT to say she is investing in the miners themselves, AS WELL".
Again, my earlier point was that she is well-heeled so as not to be concerned with what happens to her if the outcome of her investments is not good.
Best of luck with your precious metals investment(s).
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Silver has commercial applications, it will never go to -0-. Silver is used in some electronics, and silver supply has been used in many other industrial applications. Solar panels, the automotive industry and brazing and soldering are the main industries in which demand for silver is currently increasing.
Now that it is rarely used in dentistry, gold's only commercial use is jewelry.
Now that it is rarely used in dentistry, gold's only commercial use is jewelry.
You need to distinguish between investments in silver, versus coins for their numismatic value (old coin collecting).
I stated metals in op although you can buy silver and gold in coin form but definitely not interested in old rare coins. Coins, bars etc but the premium is ridiculous. That’s what I was trying to get around. Buying gold and silver jewelry by weight seems to be the only way around this.
Will be interesting to see how many put solar panels on in the future. I've a neighbor who has gone that route. He has a 6,000 square foot house for him, his wife and 2 kids .... SMH. If I was younger, I think I might do that....the solar panels.....not the 6,000 square foot house.
I'm going to put in solar panels with battery storage in lieu of a whole house natural gas generator (power goes out all the time here - so many trees). It's more expensive, but not by much. And where a generator is a sunk cost, there are definitely savings over time with the excess energy from the solar panels after the batteries are full. Hoping to be able to charge cars from the system as well.
Of course, it's not a scenario for everyone - if you don't need a generator then you'd need to be in a house for a while to pay off the panels.
Wow - Just in Q2 alone. Meanwhile - close to 600 new billionaires during the pandemic while overall avg. net worth of billionaires went through the ceiling.....Talk about a transfer of wealth. Nice work Brandon.
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