Saving In Gold

I'm a little surprised that Alaska hasn't done this first, but perhaps it's a legal issue.

Physical Metals Enter the State Economy: Texas Unveils Official Bullion Program.
 
I don’t know what affect this might have on gold, or on the value of the dollar, but I just am reading today that President Putin as contacted President Trump and they are talking about Russia going back to the dollar again, which will pretty much end the BRIC’s agreement that has been in place the last few years.
I think that President Trump is working towards putting us back on the gold standard, and hoping that we do not have to have a complete market crash for that to happen.
 
It sounds like any kind of big move risks toppling multiple chains of dominos. I think that risk level will strongly temper any moves.
 
Yvonne Smith said:
I just am reading today that President Putin as contacted President Trump and they are talking about Russia going back to the dollar again
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As far as I can determine this was a hoax initiated by a Bloomberg "news" release. The word "hoax" is being used explicitly in financial news today.
 
Beth Gallagher said:
Funny how that story just faded from the headlines.
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Actually, I see it brought up a great deal. However everyone "outside the system" with experience and credibility are pretty quick to dismiss the conspiracy theories.

This just isn't something that adversaries on the global stage would let pass if any of them seriously thought US gold reserves were "missing."

You may want to be happy about the cloud of uncertainty. When an accounting is done revaluation of the Dollar is pretty much forced. Any of us not holding significant physical gold when that occurs won't come out the other side too well. Cash accounts and pretty much everything priced in Dollars (stocks, real estate, savings, Social Security, etc.) would plummet in purchasing power.
 
Jacob Petersheim said:
Actually, I see it brought up a great deal. However everyone "outside the system" with experience and credibility are pretty quick to dismiss the conspiracy theories.

This just isn't something that adversaries on the global stage would let pass if any of them seriously thought US gold reserves were "missing."

You may want to be happy about the cloud of uncertainty. When an accounting is done revaluation of the Dollar is pretty much forced. Any of us not holding significant physical gold when that occurs won't come out the other side too well. Cash accounts and pretty much everything priced in Dollars (stocks, real estate, savings, Social Security, etc.) would plummet in purchasing power.
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''If every country is in debt, who is the debt owed to?
 
Jacob Petersheim said:
I'm a little surprised that Alaska hasn't done this first, but perhaps it's a legal issue.

Physical Metals Enter the State Economy: Texas Unveils Official Bullion Program.
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Alaska certainly has a lot of gold and other minerals, but the environmental movement has stopped almost all development of the resources. There was a big gold mine slated to go in, but unfortunately the site was on the flight route of the wealthiest Alaskan as he went to his rural estate, so he financed a protest movement on the state and national level and that got the project halted. There is another mine going in and it is being done on Native land by a Native corporation and they don't give a rip about the environmental pressure. We are kinda screwed up politically.
 
Mary Stetler said:
''If every country is in debt, who is the debt owed to?
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"Investors" in things like Treasury Bills and various kinds of bonds. These are basically loans of different terms. After Japan got into economic trouble they became a major lender in this space, having few places to invest in at home.
 
Gold has two tailwinds right now, one being global de-Dollarization and central bank accumulation, the other is extravagant money printing. A third tailwind is falling interest rates, which are expected to ramp up under the new Fed Chair and Whitehouse policy.

With the price a little depressed right now this could be the last good opportunity to get in if you have savings to protect. Always keep in mind though that "cashing out" to use gold savings currently implies Capital Gains taxes at the Federal and often State level (depending on where you live). There are efforts to roll this tax back since it's a "tax on money" but even if that ever came to fruition it might take years.

If your income is low enough that's a 0% bracket, but it ranges up to 28%.
 
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Many kinds of YouTube videos are really illustrated audio podcasts or presentations on a topic. You can get most of the content simply by listening to them, and you can usually do this while dealing with some other activity you can perform "on autopilot" such as cleaning floors, cooking, laundry, raking leaves, or I suppose even knitting and such if that's your thing. I find that headphones or wired/wireless earbuds plugged into a phone in a pocket works for the noisier activities. Indoors, aside from vacuuming, I can have the audio play through the Amazon Echo devices throughout the home.

Here is an example where the audio itself is probably enough:


This was an interesting one, covering the reality in Germany when things got tough between the wars. There is even a little bit about Ernest Hemingway's experience there at the time.

I was interested to learn of the US Dollar's relevance there during that hyperinflation, though other foreign currencies had much the same unofficial role in making trade in essentials possible.

The author also describes how hyperinflation got "fixed' there later on.
 
What the narrator doesn't not say is that most of the foreign currencies mentioned were not fiat currencies but were backed by metal. I think the Swiss Franc may still be backed, but the remainder that I know about are all fiat including the cryptos. The rest of the tale is true, and sadly was in some manner designed. The Reichsbank and the Federal Reserve were both founded knowing they would both collapse. The Federal Reserve hasn't yet collapsed, but is teetering on the edge.
 
I started looking down this rabbit hole last year when things seemed to be on an inevitable path. What got me concerned is going more public now. Retirement financial infrastructure is crumbling:


I'm not assuming we'll see hyperinflation, but things are clearly going in a bad direction. Inflation, brokerage fees, Social Security in danger, taxes, and stock market underperformance could all eat away at retirees pretty deeply.
 
I don't necessarily disagree with the commentator, but his comments on inflation and economic growth are shaky. Here is an assessment of inflation that is mostly independent of the government figures and monitors the same indices year-over-year. You can see how it varies from the government figures and the Fed assessment. Social Security is certainly in danger due to mismanagement and the addition of people who never contributed to it.

The stimulus put in place during the Biden years skewed everything and we are still suffering form its aftermath. Once retailers and wholesalers discovered we would pay more for things, they are reluctant to cut prices and reduce their profit.

 
Faye Fox said:
Just my opinion, but the most secure wealth is guns, ammo, land, and food. You can't eat gold and no one in a starving world would trade food for gold. All the afore mentioned things, have just gone up in price and will always have value.
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I guess I missed the point.

Are you saying when your EBT card stops working you'll rob your neighbors at gunpoint? :ROFLMAO:

Seriously though, I don't understand the argument. How does that help protect your retirement savings from inflation, negative interest rates, bank bail-ins, etc?
 
Pre-1965 "silver" dollar coins are 90% silver. At today's spot price they are worth $72.66 each, though typically to sell them you must take some discount, so you'd probably get like $65.

What has changed? The value of a dollar has fallen by that much in purchasing power.

Of course owning land free and clear and the other things you mentioned are important, though the bit about guns seems oddly paranoid or something to me. Sure, people do that, but I can't see how it might count among your retirement financials.

Silver is pretty speculative. It tends to fall to low prices and stay for a long period of time between spikes of high pricing. Gold tends to be more steady and stable, which is why nations and banks retain large amounts of it. Retirement advisors have been suggest that instead of holding 60% in stocks and 40% in bonds that people should start altering the ratio and added gold as a 3rd portion of investments. Some say 20%, some have said 40% in gold.

The world is changing as the post-WWII "Order" is replaced.

Here is a gold chart covering recent history:

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Where is the lack of inflation protection here?

The chart is dollars per ounce by year. Gold isn't expanding, dollars are shrinking. Radically.
 
...and you don't get taxed just for holding gold like you do real estate. Food goes bad eventually even if properly preserved; gold does not.
 
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