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Gold & Silver are Spiking!
serf
Member Posts: 9,217 ✭✭✭✭
Gold is close to 1850 while silver is close to 23 dollars an ounce. Congress is going to spend another 2 trillion to keep bailing out the phony economy with no jobs for the middle class,.Who would have thought? That the Deficit will be close to 30 trillion dollars by the end of the year?
serf
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I remember the hunt brothers and the high silver values. My father called me from Florida one winter while I was still living in New York and told me to go to his home and get a five gallon bucket of silver from his cellar and take it and cash it in. He had been collecting all the silver he had found on his rural mail route for 25 years in these five gallon buckets in his cellar. He had two completely full. I took the bucket and cashed it in and he bought a brand new Pontiac Parisienne with the money.
My bet is bullets.
For several years I havebeen making (and hoarding) blackberry wine.
I figure I can trade it for almost anything.
The ultimate currency.
Gold surged to a nine-year peak on Wednesday as an escalation in U.S.-China tensions stoked demand for safety, while silver followed bullion’s rally to hit a near seven-year high on hopes for a recovery in industrial demand.
Spot gold hit its highest since September 2011 at $1,870.01, nearing its all-time peak hit the same month. Spot gold jumped 1.3% to $1,865.61 per ounce, while U.S. gold futures closed 1.2% higher at $1,865.1 per ounce.
“Gold is accelerating higher and that’s been mainly on the geopolitical tensions with China. There seems to be no end in sight for this escalation ... and it’s going to damage sentiment as the world’s largest countries continue to bicker,” said Edward Moya, senior market analyst at broker OANDA.
If I were to sell the bullion silver coins, the big question is what to do with the proceeds. The food pantry could be restocked for another pandemic but it won't take much. Have enough firearms, ammo and reloading supplies, lead and molds for bullets, etc. Could put it towards a down payment and replace the 2010 Tacoma (only 106K miles) and pay the loan back with inflated dollars. Have a reserve of cash on hand. Wanted to visit Yellowstone and Cody this year but can't now. Perhaps invest it in a firearm or two but I have enough. Decisions decisions. For now its wait and watch the silver price. Perhaps some in stocks or bonds.
It currently is making a 300 Lb. safe weigh 500 Lbs, and is thus serving a useful purpose to dissuade a thief. Have thought about selling half of it, but as victorj19 states, there really is not a logically safer or obviously better thing to do with cash at present.
Brad Steele
It is tempting to dump half of each, but there really is not a good place to put cash right now.
Did put a pair of shoelaces on layaway at Dollar General a couple of weeks back. Maybe it is time....
Brad Steele