PeoplesElbow
Well-Known Member
You are stuck in the 70s, since the 80s gold has been a lackluster investment that hasn't done that well vs inflation.
BitCoins, fake currency, weird times...
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LightRoasted
If I may ...
PeoplesElbow
Well-Known Member
Call it what you want but putting savings I to something expecting it to grow is investing. Sticking cash under the mattress or even a non ni terest bearing account is saving.
PeoplesElbow
Well-Known Member
Here is why I say gold is only valuable because someone long long ago decided it was.
If gold was a dull sh1t brown but had all other properties the same would it have any value pre electronics era? Gold is just as arbitrary as diamonds or Bitcoin, the only difference is it has a very long history of being valuable.
If gold was a dull sh1t brown but had all other properties the same would it have any value pre electronics era? Gold is just as arbitrary as diamonds or Bitcoin, the only difference is it has a very long history of being valuable.
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LightRoasted
If I may ...
If I may ...
I'm talking about buying physical gold or silver to maintain the purchasing power of your earnings over time rather than having inflation cause your paper dollars to lose value due to inflation.
Anyone can tell the gold and silver markets are being manipulated. It's a marvel that everything is being affected by inflation with increased costs of things across the board, except gold and silver. Everything. Isn't that funny? Like the cost of production of miners haven't increased, which they have; Fuel, machinery, labor, etc.. And yet, gold and silver are seemingly unaffected.
When the stock markets crash, and they will, money will flow to commodities such as gold and silver, and not to the ETFs, money will buying physical because they are a safe haven from the ravages of inflation. Those that have some can weather the downturn far better than those than those that have a 401K and IRA or other retirement and savings vehicle. If you don't have it in your possession, you do not own it.
If you bought 10 ounces of gold in 1970 at a cost of $350, $35 an ounce, today you would have $18,022. The $350 if held in paper dollars would hardly buy anything relative to today's prices of things, but that $18,022 sure as hell would.
Stop listening to the financial propaganda.
The difference is that gold and silver are finite elemental metals used for over five millennia. Diamonds are infinite and can be man made, gold and silver cannot. I'm not talking about investing in gold or silver. If people want to "invest" they can buy gold and silver ETF's that are manipulated with paper gold outnumbering physical gold somewhere around 200 to 250 paper ounces to 1 ounce of physical, which also, unfortunately, sets the spot price of physical. But premiums charged by the market, show close to the true value, relative to the dollar, gold and silver's true price.
I'm talking about buying physical gold or silver to maintain the purchasing power of your earnings over time rather than having inflation cause your paper dollars to lose value due to inflation.
Anyone can tell the gold and silver markets are being manipulated. It's a marvel that everything is being affected by inflation with increased costs of things across the board, except gold and silver. Everything. Isn't that funny? Like the cost of production of miners haven't increased, which they have; Fuel, machinery, labor, etc.. And yet, gold and silver are seemingly unaffected.
When the stock markets crash, and they will, money will flow to commodities such as gold and silver, and not to the ETFs, money will buying physical because they are a safe haven from the ravages of inflation. Those that have some can weather the downturn far better than those than those that have a 401K and IRA or other retirement and savings vehicle. If you don't have it in your possession, you do not own it.
If you bought 10 ounces of gold in 1970 at a cost of $350, $35 an ounce, today you would have $18,022. The $350 if held in paper dollars would hardly buy anything relative to today's prices of things, but that $18,022 sure as hell would.
Stop listening to the financial propaganda.
PeoplesElbow
Well-Known Member
You never answered my question, if it was a dull crap brown in color with all the same properties would it still be valuable?
I’ll take the advice of Buffett before some internet genius any day……..
10 shares of Berkshire Hathaway1980 $3,600.00 …..today $4,000,000.00
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LightRoasted
If I may ...
If I may ...
Had people bought gold at $35 an ounce, with its spot price today being $1798, they would have realized a 5037.14% increase, or rather the percentage of inflation thereby "saving" their purchasing power for today.
I believe, if was a finite metal equal to gold's ratio in earth's crust, then moist likely yes. And look at silver. It tarnishes and is in need of constant polishing when used as silverware, and even silver coins, except they don't have time to tarnish as much because of being pocketed with other coins in one's pocket; the tumbling cleaning effect.
Sure, use a Class A stock, with each stock having an equal voting share, issued by Berkshire as an original stock offering in 1980 that has never seen a stock split. The original investors of Class A stock in Berkshire in 1980 had way more money than the average Joe to be investing when the average per capita annual income of the American population was $10,180.
Had people bought gold at $35 an ounce, with its spot price today being $1798, they would have realized a 5037.14% increase, or rather the percentage of inflation thereby "saving" their purchasing power for today.
LightRoasted
If I may ...
If I may ...
Since it's in the same vein, vis inflation and government interventions, I'll post this cartoon from 1933. The more things change, the more the stay the same. I wonder if this was the beginning, or the middle time, of using that "democrat playbook"? À la, now today as, Build Back Better?
Since it's in the same vein, vis inflation and government interventions, I'll post this cartoon from 1933. The more things change, the more the stay the same. I wonder if this was the beginning, or the middle time, of using that "democrat playbook"? À la, now today as, Build Back Better?
Gold was $600.00 an ounce in 1980, so your numbers don’t add up……
#HODL APES!
Kinnakeet
Well-Known Member
Gold and Silver are worth buying there is no doubt about it when paper money is worth nothing precious metals will be the ticket..JMO and in the long run will be worth way more than your bank savings account which the Govt' is going to take sooner or later
Kinnakeet
Well-Known Member
That depends if someone said it was
black dog
Free America
I believe when/if that does happen, many more important things besides precious metals will be used.
Water, food, fuel and ammunition will be much higher on the list to barter or buy with...
PeoplesElbow
Well-Known Member
Toilet paper!
LightRoasted
If I may ...
If I may ...
Do follow my posts. I was referring to the 1970 price of gold; Before Nixon took us off the Bretton Woods gold standard.
No, they're too wordy and not very worthy.......
jrt_ms1995
Well-Known Member
Well, I briefly thought of the autos at first, too, but you really couldn't call one of them much of an "investment".