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Silver, gold and the stock market all suck
Not a good week for investments. You would think the promise of free money would cause all three of these areas to rise, instead they are sinking. The promise of increased spending due to free money should bolster stocks and cause inflation worries that bolster metal prices, but it ain't happening. Strange times we live in. Think I'll just add some more to the mayonnaise jar buried in the garden instead of gambling, I mean investing it. Bob
Comments
Yep I was selling some stocks a couple weeks ago, should of sold more...
Bob, you got that right. Or, take my CD money and stick it in the mattress 11 March. Not worth the effort to renew. At least will have some cash for emergency unless they do a reset like Serf says.----------------------Ray
The rich are holding their money for The Reset and we have deflation to calm the bond market with less inflation in other words stagflation is present situation with a K recovery. Not a V not a M unless the virus comes in for another wave & locked downs ensue again.
serf
Actually the Fed chairman said to expect a little inflation and that they would be slow to try to counteract it so as not to stifle the economic recovery.
So since precious metals have shown their volatility, where do you have your wealth invested? That was a rhetorical question because the answer is none of my business. A lot of us have lost more than a few dollars this past week and your recommended commodity, gold, has done no better than anything else. Bob
Yep it's all being manipulated by the central banks with The IMF and ask yourself Bob why do most central banks still buy and store gold if it's not money? If and when the central banks go to crypto currencies and a total cashless system then they will bypass all national banks with The IMF and SDR's to play the same debt game again but the IMF being be the baddest dog on the porch as a wealth leader being that central banks are tapped out on inflating their debt.
By the way black gold is the winner for now and if Iran war breaks out even more so.
serf
https://www.oxfam.org/en/press-releases/imfs-gold-holdings-soar-nearly-20-billion-start-coronavirus-pandemic
“Poor countries with fragile health systems are drowning in debt. With gold prices hitting a seven-year high, the IMF should use the windfall profits from gold sales for debt cancellation to avert catastrophic loss of life in developing countries.
“This week, the IMF, World Bank and G20 need to step up and agree to cancel all developing country debt payments for 2020 and commit to encouraging private creditors to get on board too. This would unlock billions of dollars that can pay for new hospitals and medical supplies and personnel to treat everyone who gets sick.”
Among the priorities outlined in a new statement to the IMF and World Bank released ahead of their Spring Meetings, Oxfam is also calling on the IMF to issue at least US$1 trillion in additional international reserves, known as Special Drawing Rights, to dramatically increase the funds available to countries. Under current rules, this would give the Ethiopian government access to an additional $630 million —enough to increase its health spending by 45 percent.
http://www.federalist-debate.org/index.php/component/k2/item/115-the-debate-about-the-sdr-as-a-global-reserve-currency-and-sdr-denominated-securities
A sudden change of course for the SDR occurred when, in March 2009, the Governor of the People’s Bank of China, Zhou Xiaochuan, underlined the presence of the Triffin dilemma and put forward a proposal with a number of actions to promote the use of the SDR as a supra-sovereign reserve currency stating that, even if until now SDR’s role has been restrained by limitations “it serves as the light in the tunnel for the reform of the international monetary system”. In his proposal he also underlined the need for an enlargement of the SDR basket of currencies and suggested that part of the IMF member countries’ reserve be entrusted to the centralised management of the IMF through the establishment of an open-ended SDR denominated Fund which would allow subscription and redemption in the existing reserve currencies by various investors.
I never said gold wasn't a medium of exchange. The fact that it bounces in value just like all currencies and commodities makes investing it just as risky as most other investments. As far as the IMFs gold reserves that total 157 billion dollars that is a fraction of a drop in the bucket compared to the world economy. The IMF has surprisingly little to do with developed countries economies, instead it exists primarily to help third world developing countries. We may be on track to qualify for their assistance but we aren't there yet. Bob
The new Fort Knox
The Federal reserve is losing it's creditably in more ways than one and The Golden goose that laid the golden egg is now become tainted and it's faith can only be restored in two ways,raise interest rates or have a war to make the sheple run to the dollar for safety.
Of course a Fake reset could help it with a cashless society and increase taxation for all and making one political party for all because we the people will have no choice in the manners of what money is.
The one thing they can't do is balance the budget and create products and services to pay down their debt on their system of government. It's impossible in my opiion,too many mouths to feed at this time even with the Wuhan virus killing over 40% of old people that where living with entitlements guarantee by our glorious government.
serf
I hear guns are doing well and have been for a long long time.
Well..... I do have a couple or maybe 3 or 4, but don't have any desire right at the moment to sell them and it sure isn't the time to be getting a good deal buying any more right now. If I was smart I would send you or Kasey a few to work your magic on and get top dollar but I am having a hard time deciding which ones to part with. I'll probably figure it out right after the prices crash. After all, nobody ever said I was smart. Bob
If you enjoy them and don't need the money then why sell them??
That's kind of where I am at but fighting the almost overpowering greedy urge to cash in on the panic buying is tough!😁 Bob
You sell them now then in a few months forget about buying them cheap on the back end if you can even find them then.
serf
Yes guns will come back down as will ammo as soon as supply matches demand.
Gold was 1698 on Friday. Predictions are 3500 within a few yrs.
I have seen those prediction for gold and silver and I think they are nothing more than a way for the brokers to keep their sales up. Gold has lost about 18% since last August. Silver is doing a little better and only down 14% for the same time frame. Is it a good time to buy? I think maybe it is, but only for a loooonng term investment. Bob
Is gold or silver is a better long term investment than guns?? I don't know but you can shoot guns.
I hear you can eat gold if you turn it into dust and sprinkle it on your toast. I advise some sugar and cinnamon added to the mix though.
Doesn't make a lot of sense to me, but a lot of people do eat it!
Kind of gives a new meaning to pissing away your money.😁 Bob