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hyperinflation - reading this thread might save your life
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Date: May 4th, 2021 11:08 PM Author: Insanely creepy lake messiness It's obvious to everyone that inflation is occurring despite the official 2% meme stance the Fed is taking. Look at the 5-year chart of lumber:
https://www.nasdaq.com/market-activity/commodities/lbs
Basically every commodity either looks like that, or will soon.
The problem has gotten so egregious that institutional investors / banks can no longer just parrot the Fed line. Buffet said over the weekend he's seeing substantial inflation and price hikes (that are being accepted - indicating that the root problem is monetary inflation, not "supply constraints").
BlackRock recently said that "every investor" they have is concerned about inflation.
Check out this chart from BofA showing CPI growth vs. mentions of inflation on company earnings calls:
https://cms.zerohedge.com/s3/files/inline-images/mentions%20inflation_0.jpg?itok=BO_pVpGr
Ignoring this problem hasn't made it go away. Quite the contrary, it has exacerbated it for over a decade and when the dam breaks it will be catastrophic. Hyperinflation will destroy the value of all fiat currency and all fixed rate bonds. Remember that bonds are the largest "outright held" financial asset category in the world at >~$130 trillion. Imagine $130 trillion in value disappearing. Unlike the housing crisis (where houses that went down 50% are now UP vs pre-crisis), that money will never be recovered.
B-b-b-but the Fed has the tools to deal with this! No. I submit three points:
1. Inflation in the late 70s/early 80s was only able to be contained by raising interest rates to >15%.
2. Raising interest rates to 5%, let alone 15%, would completely annihilate all stock, bond and real estate markets worldwide. Our massive $28bn debt (+ multiples higher of unfunded liabilities) is financed through short term debt. We have only been able to run such a large deficit for decades because interest rates have been low and idiot foreigners have accepted USD.
3. Hyperinflation is a psychological - not a monetary - phenomenon. Printing too much money causes inflation. People capitulating on a currency is what causes hyperinflation. One day things are fine, sure inflation is high but it seems manageable. The next day something snaps and one person/fund after another liquidates all cash/bonds. They reach the point where they say "I refuse to hold one single US dollar given what is happening". Then everybody else does the exact same. Remember that in the 70s basically nobody actively managed their own investments if they had them. Today all it takes is one click and your entire 401K just liquidated completely from bonds into stocks or real estate. People will NOT sit around limp dicked like the 70s having their portfolios go down in real value 15% each year.
You have a limited window of time in human history where the price of gold/silver is being manipulated artificially low. Their price is suppressed on the COMEX (which makes the dollar look strong in comparison). When everybody finally sees that the emperor is naked, precious metals (in particular silver) will not only be a store of value while everything else becomes monopoly money, but it will deliver insane returns once freed of price control. Think $1,000/oz in REAL terms today. |
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Date: May 12th, 2021 9:46 PM Author: Racy rusted garrison this is retarded.
"Hyperinflation will destroy the value of all fiat currency and all fixed rate bonds. Remember that bonds are the largest "outright held" financial asset category in the world at >~$130 trillion. Imagine $130 trillion in value disappearing."
no real wealth would disappear. the benefit would accrue to the bond issuers/debtors. devaluation of bonds in real terms is a zero-sum game, with winners and losers. as you point out, a lot of "idiot foreigners" make up the preponderance of bond holders. hosing them would be a win.
full disclosure: i am a believer in impending inflation. but a lot of your points are just dumb |
Date: May 4th, 2021 11:10 PM Author: honey-headed excitant theater mediation BTC to $1m (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403046) |
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Date: May 4th, 2021 11:11 PM Author: burgundy misanthropic shrine masturbator the Fed will shutdown your internet coins ljl (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403051) |
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Date: May 4th, 2021 11:15 PM Author: Insanely creepy lake messiness (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403079) |
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Date: May 4th, 2021 11:12 PM Author: Know-it-all shitlib (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403063) |
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Date: May 4th, 2021 11:12 PM Author: motley onyx water buffalo old irish cottage can i just put cash into a silver etf (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403064) |
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Date: May 4th, 2021 11:14 PM Author: Insanely creepy lake messiness $PSLV is the only ETF that I am confident actually holds the silver and is not using leasing tricks
That said, holding physical gold and silver is the only way to reduce counterparty risk to zero. |
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Date: May 4th, 2021 11:14 PM Author: burgundy misanthropic shrine masturbator lol you people are retarded and deserve to be ruined. if you can't hold it, you don't own it. Do you seriously think you own physical silver by buying some ETF? xo 2021 |
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Date: May 4th, 2021 11:55 PM Author: sadistic vivacious double fault kitty cat What about GDX (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403311) |
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Date: May 5th, 2021 4:32 AM Author: Heady Claret Public Bath Psychic titcr
How do we get our hands on physical silver? |
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Date: May 5th, 2021 6:30 AM Author: Lemon Property hie to a pawn shop (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42404325) |
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Date: May 4th, 2021 11:14 PM Author: nofapping dead puppy jewess I don't really want to deal with physical silver, do you think a silver fund will provide similar inflation protection? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403068) |
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Date: May 4th, 2021 11:15 PM Author: Insanely creepy lake messiness See above.
An alternative could be holding physical gold. 50oz (size of your closed fist) is ~$90K at today's suppressed prices |
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Date: May 4th, 2021 11:16 PM Author: burgundy misanthropic shrine masturbator LMAO
"I don't want to actually own the physical asset. I want the ETF holding the assets to go bust. They'll surely deliver then!"
xo 2021 |
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Date: May 5th, 2021 2:05 AM Author: Ultramarine location cr - but there's still a large area of possible outcomes in between total collapse of fiat currency and where we are today, which includes inflation / various economic outcomes that aren't ruinous but are still wise to invest in silver etc
But you're definitely right that in a world in which the dollar / fiat becomes completely fake or collapses is a world in which a number on your etrade account is meaningless as well...
But if we're considering the scenario of collapse such that physical gold/silver become the new stores of value you'll also need guns and ammo to protect your physical stores, along with plenty food etc |
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Date: May 12th, 2021 9:44 PM Author: Copper offensive selfie buy physical lumber and physical corn (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451309) |
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Date: May 4th, 2021 11:16 PM Author: cream geriatric kitchen cr but i can only store so much physical silver
i think it's time to start buying guns and gold |
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Date: May 4th, 2021 11:17 PM Author: motley onyx water buffalo old irish cottage should we just all hodl and try to buy into the bottom of the market? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403096) |
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Date: May 4th, 2021 11:17 PM Author: talented potus forum Silver is completely irresponsible and will cost you everything (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403098) |
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Date: May 4th, 2021 11:18 PM Author: burgundy misanthropic shrine masturbator sup Shlomo! (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403104) |
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Date: May 4th, 2021 11:40 PM Author: talented potus forum Enjoy losing your shirt off a Reddit hunch (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403233) |
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Date: May 4th, 2021 11:41 PM Author: Insanely creepy lake messiness okay, you've been shitting on silver for several threads, what's your brilliant idea? holding a bunch of cash and buying kneepads? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403239) |
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Date: May 4th, 2021 11:48 PM Author: talented potus forum Great retort. You know both will be worthless right ? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403267) |
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Date: May 4th, 2021 11:49 PM Author: Insanely creepy lake messiness lmao @ me for even responding to you before
good luck! |
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Date: May 4th, 2021 11:56 PM Author: talented potus forum Sorry ur going to lose all your money idiot (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403313) |
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Date: May 4th, 2021 11:18 PM Author: Olive Cracking Stead Really great thread. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403103) |
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Date: May 4th, 2021 11:48 PM Author: carmine school cafeteria (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403268) |
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Date: May 5th, 2021 6:30 AM Author: Lemon Property (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42404326) |
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Date: May 4th, 2021 11:18 PM Author: Lascivious hissy fit giraffe What is the basis for the theory that silver is the precious metal to hold instead of others? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403107) |
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Date: May 4th, 2021 11:19 PM Author: burgundy misanthropic shrine masturbator You should be holding gold, silver, platinum, and palladium. PHYSICAL! |
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Date: May 4th, 2021 11:24 PM Author: Vermilion maniacal tanning salon guns and gold (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403142) |
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Date: May 4th, 2021 11:23 PM Author: talented potus forum There is none. These people are getting it from Reddit. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403132) |
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Date: May 4th, 2021 11:25 PM Author: Insanely creepy lake messiness gold/silver (and to lesser degree all the other commodities) are the only assets that won't get gaped or semi-gaped in real terms during hyperinflation (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403145) |
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Date: May 12th, 2021 9:20 PM Author: vigorous cocky school milk What about physical land? physical diamonds? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451208) |
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Date: May 12th, 2021 9:33 PM Author: Insanely creepy lake messiness diamonds are flame (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451256) |
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Date: May 4th, 2021 11:37 PM Author: Unholy Talking Partner I own shares in various companies that own silver mines, CR? This is effectively investing in the silver since of course their value will go through the roof if silver becomes more valuable (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403211) |
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Date: May 4th, 2021 11:40 PM Author: Insanely creepy lake messiness silver miners are 180 because they will deliver outsized returns vs. silver itself
two things to keep in mind:
1. they should be profitable or imminently profitable companies. having a mine 5 years from production will do them jack shit
2. even in the best of times, there is a risk of nationalization. you can mitigate this by going more heavily on US/Canada/AUS miners, but at the end of the day if silver gets high enough it might all be seized by the government. Take profits as it goes up and convert to something tangible. |
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Date: May 5th, 2021 12:13 AM Author: Flirting Azn Stag Film Dirt. Raw land. That's my silver. And I hold a lot of it. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403409) |
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Date: May 5th, 2021 1:18 AM Author: fluffy brethren (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403756) |
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Date: May 5th, 2021 12:16 AM Author: Bronze beta state Why not rack up as much debt as you can now so that you can pay it all off with a loaf of bread? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403426) |
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Date: May 5th, 2021 12:28 AM Author: cream geriatric kitchen (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42403495) |
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Date: May 5th, 2021 12:40 AM Author: Insanely creepy lake messiness the risk is they do the same thing as in weimar and re-denominate loans in ounces gold (the same # of ounces as before hyperinflation)
but if you just buy a bunch of gold/silver and fuck off to the woods with that debt then you are good 2 go |
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Date: May 12th, 2021 10:00 PM Author: passionate native jap This again? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451391) |
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Date: May 12th, 2021 10:41 PM Author: Racy rusted garrison if they are willing to go that far, why won't they just outlaw personal possession of gold like they did in 1933 in the US?
at least they can't throw you in prison for defaulting on the debts, but they can do so for illegal possession of bullion. |
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Date: May 12th, 2021 9:39 PM Author: Well-lubricated up-to-no-good parlor gbtls (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451284) |
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Date: May 12th, 2021 10:50 PM Author: 180 liquid oxygen nowag I dreamed of this for a decade, but eventually my student loans were paid off. AND NOW WE HAVE INFLATION. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451664) |
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Date: May 12th, 2021 9:15 PM Author: Insanely creepy lake messiness (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451193) |
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Date: May 12th, 2021 9:38 PM Author: slippery set toilet seat My catalytic converter theft business is and will continue to go gang busters. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451282) |
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Date: May 12th, 2021 9:41 PM Author: Effete kitty Step up your game. Gotta cop those copper brake lines as well. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451294) |
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Date: May 12th, 2021 9:51 PM Author: Aphrodisiac Electric Furnace it was worth throwing away hundreds of years of social and capital development so some bitches could share some vacation pics
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Date: May 12th, 2021 10:02 PM Author: Insanely creepy lake messiness (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451395) |
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Date: May 12th, 2021 10:09 PM Author: Costumed bonkers chapel Should I buy this:
https://www.apmex.com/product/215939/10-oz-gold-bar-credit-suisse-w-new-assay |
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Date: May 12th, 2021 10:16 PM Author: Insanely creepy lake messiness no that's way too big for gold, and the price is terrible (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451438) |
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Date: May 12th, 2021 10:22 PM Author: Costumed bonkers chapel What about a bunch of 1 gram bars, they have them for $83 a piece (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451477) |
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Date: May 12th, 2021 10:23 PM Author: Insanely creepy lake messiness honestly with gold you get ripped off if you go smaller than 20grams or larger than 1oz (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451481) |
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Date: May 12th, 2021 10:27 PM Author: burgundy misanthropic shrine masturbator first of all, what state are you buying in? If you buy from Hero Bullion or Bold Precious Metals, you don't have to pay sales tax. The problem with bars is that they aren't from sovereign mints, i.e. they aren't actual liquid currency. Buy 1 oz coins from sovereign mints like the US Mint, Royal Canadian Mint, Royal British Mint, Austrian Mint, and South African Mint. |
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Date: May 12th, 2021 10:14 PM Author: Well-lubricated up-to-no-good parlor My prole parents literally have a gold bar in a box on our mantle. I thought they were retarded, but it will turn out that they are retardedly brilliant. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451425) |
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Date: May 12th, 2021 10:16 PM Author: burgundy misanthropic shrine masturbator grrrrrr proles buying gold grrrrr (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451434) |
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Date: May 12th, 2021 10:34 PM Author: Racy rusted garrison you live with your parents? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451558) |
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Date: May 12th, 2021 10:15 PM Author: yapping idiotic telephone Tldr? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451428) |
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Date: May 12th, 2021 10:19 PM Author: Costumed bonkers chapel Where will you sell your gold once the shit hits the fan? I don’t think you’ll be able to mail it to some bulk seller. And what will you exchange it for? Fiat USD? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451454) |
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Date: May 12th, 2021 10:29 PM Author: Insanely creepy lake messiness if it's mad max, you will directly barter it just like you barter any 2 goods
but much more likely is we devolve into venezuela-type shithole for a while, then a new sound money currency is created. at that point you exchange some gold for that new, non-debased currency
the whole point of gold is that it survives no matter who is power, what currencies exist or are debased, etc |
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Date: May 12th, 2021 10:35 PM Author: Racy rusted garrison why not just own real estate, companies with low-cash balance sheets, etc.? take out debt to buy even more of these things, then default on the debt if they re-denominate it?
if those go under then everything else is fucked too anyway to the point where i'm going to get my gold stolen anyway |
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Date: May 13th, 2021 12:15 AM Author: Sexy violet clown round eye CRACKERS won't be allowed to own land soon. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42452185) |
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Date: May 12th, 2021 10:51 PM Author: laughsome balding national security agency *barters with shotgun instead* (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451671) |
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Date: May 12th, 2021 11:29 PM Author: harsh rehab coldplay fan If it's Mad Max, who the fuck wants gold? Gold is inherently fucking worthless.
If it's Mad Max, I would WAY rather have copper. Moonshine and a little bit of electricity is gonna be way more in demand than dentistry, jewelry, and high fidelity HDMI connections. |
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Date: May 12th, 2021 10:19 PM Author: umber at-the-ready patrolman Aren’t you better off trying to use some alternative currency? Like you’re going to go to the gas station w gold and buy gas? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451456) |
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Date: May 12th, 2021 10:29 PM Author: Insanely creepy lake messiness see comment above
gold is less about bartering in the apocalypse and more about storing wealth until society introduces the next currency that isn't yet clown money |
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Date: May 12th, 2021 10:30 PM Author: umber at-the-ready patrolman But when that happens, gold won’t be worth much again. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451530) |
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Date: May 12th, 2021 10:32 PM Author: Insanely creepy lake messiness so all of mankind will witness firsthand how gold/silver are the only forms of money that were able to retain value throughout a currency crisis, but as soon as the next currency arrives they will forget that and hate gold? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451545) |
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Date: May 12th, 2021 10:37 PM Author: Racy rusted garrison nothing inherently valuable or useful about gold. on top of that, it's very inconvenient. kind of annoying to use for transactions, gets stolen/lost easily, high transaction costs, difficult to verify purity independently at low cost, etc. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451577) |
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Date: May 12th, 2021 10:39 PM Author: umber at-the-ready patrolman Exactly. You have a gold bar. You need a tank of gas. You gonna get gas station attendant to melt down some ounces for gas? It’s nonsensical (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451589) |
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Date: May 12th, 2021 10:38 PM Author: umber at-the-ready patrolman I don’t get it. Gold only has value if it’s worth what the new currency is. When they reset the currency and just say whatever your gold was worth, divide 25 from it, arent you going to sell it to buy stuff with the new money like everyone else w gold at the same time?
Gold always sounds good in good times because you think you can use it against hyperinflation, but I’ve never heard how this would actually work in practice. My position is if you can’t go to the gas station and buy gas with it, it becomes pretty clear that it’s worthless. It used to be worth something because money was pegged to it. Money was made out of it. It’s not now. |
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Date: May 12th, 2021 10:39 PM Author: Racy rusted garrison yeah. in addition they can just outlaw personal possession of gold, like they did in 1933. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451593) |
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Date: May 12th, 2021 10:47 PM Author: Insanely creepy lake messiness yeah, you clearly don't get it lol.
if i took a shit in your hand and valued it at 1 ounce of gold, would you hand over your gold for it?
gold's price, like that of every other asset in on planet earth, is determined by supply and demand. |
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Date: May 12th, 2021 10:50 PM Author: umber at-the-ready patrolman This is like saying I’m going to use my house as a hedge against inflation because housing supply is limited. Problem is I can’t trade off part of my house for bread or a house. Same for gold. Again, you haven’t explained how you will actually use it in the hyperinflation period nor why everyone w gold who can’t use it won’t sell it immediately when currency revalues (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451659) |
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Date: May 12th, 2021 10:56 PM Author: Insanely creepy lake messiness i can't tell if you are trolling me or are really this slow
PRE HYPERINFLATION: you own something real like gold/house/cow
DURING HYPERINFLATION: everybody else is wiped the fuck out while your assets increase in value to match or exceed rate of inflation. if you have 1oz of gold that will be too big to barter directly in. but you can exchange it for 10 ounces of silver. you can exchange each ounce of silver for 31grams. you use grams to buy whatever the fuck you need
AFTER HYPERINFLATION: the government introduces a new currency BACKED BY GOLD. you exchange your gold for the new currency if the currency is stabilized / actually backed. congrats, you are now wealthy while everyone else is starting from scratch in favelas |
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Date: May 12th, 2021 11:00 PM Author: umber at-the-ready patrolman The government is not going to institute currency backed by gold -ever. Even Weimar Germany didn’t do that/. They pegged it to the dollar.
Also, you haven’t explained who is going to be taking gold for payment instead of currency. How much gas does a gram of gold get you? What market sets that? |
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Date: May 12th, 2021 11:10 PM Author: Insanely creepy lake messiness weimar germany had no gold, genius, that's why they had to print so much and went into hyperinflation to begin with.
ljl at "just peg to the dollar". why doesn't venezuela just peg their currency right now 1:1 to the dollar? they could solve their hyperinflation instantly! re-read that sentence and realize how stupid your statement was
i don't know how much gas a gram of gold will be able to buy post-fiat. likely much much more than right now if you converted to fiat first. that price will be determined by **THE** market when it gets there. but again, you seem weirdly fixated on the bartering aspect of gold despite me repeatedly noting that a new gold-backed currency will be quickly introduced to stabilize the economy |
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Date: May 12th, 2021 11:12 PM Author: umber at-the-ready patrolman Why doesn’t Venezuela just peg it’s money to gold to solve the problem? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451805) |
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Date: May 12th, 2021 11:13 PM Author: Insanely creepy lake messiness they could if they had any gold in the country
what part of this is so difficult for you to grasp? |
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Date: May 12th, 2021 11:17 PM Author: umber at-the-ready patrolman Remind me how much gold you need to peg your currency to it bc Venezuela has the 26th most gold reserves in the world. 82.4% of its foreign reserves are in gold-the highest percentage in the world (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451838) |
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Date: May 13th, 2021 12:01 AM Author: Insanely creepy lake messiness lmao all of their gold is trapped overseas in foreign banks who refuse to relinquish it to maduro. they learned first hand how you get fucked holding paper instead of physical (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42452057) |
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Date: May 12th, 2021 10:49 PM Author: Insanely creepy lake messiness "It used to be worth something because money was pegged to it. Money was made out of it. It’s not now."
jesus fucking christ. you've got it ASS FUCKING BACKWARDS. it was gold that gave money it's value, not the other fucking way around. when the USD was redeemable for silver we had 0.2% inflation for a hundred fucking years. post creation of the fed in 1913 the dollar has lost like 98% of its value. |
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Date: May 12th, 2021 10:52 PM Author: umber at-the-ready patrolman Right. You used to be able to trade in money for gold and vice versa. If I had a lot of gold I could go exchange it for a valuable currency. You can’t now. Now, you have a bunch of gold, you trade it in for a devalued currency to buy stuff? What am I missing (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451680) |
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Date: May 12th, 2021 10:57 PM Author: Insanely creepy lake messiness lmao okay you're right, just stick with fiat. gl (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451722) |
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Date: May 12th, 2021 11:06 PM Author: umber at-the-ready patrolman How many slivers of gold get you a shirt? You’re better off buying food stores (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451779) |
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Date: May 12th, 2021 10:53 PM Author: Hateful Irradiated Digit Ratio Church Building Your misunderstanding.
1. If you have $10k "old" USD. option 1 is to hold it in cash or shitty "investments". When the inflation comes that $10k USD gets rebased into $1 New USD. option 2 is to hold it in gold. Now when the rebasing happens, that gold is now worth $10k New USD. You didnt make any profit per se, but you did a hell of a lot better than the alternatives that you could have done with that $10k Old USD
2. It is entirely possible that if the USD collapses, the replacement currency that is used is some form of gold or petro backed currency. |
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Date: May 12th, 2021 10:58 PM Author: Racy rusted garrison lol. the govt will confiscate gold and make it illegal to hold gold. they'll institute price controls to make you sell gold to them at whatever price they want, just like the US government did in 1933. it was 41 years before you were allowed to sell gold bullion at market rates again in the US. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451731) |
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Date: May 12th, 2021 11:04 PM Author: umber at-the-ready patrolman You’re wasting thousands of dollars on the hopes that a government that resets the currency will use gold to back it? Where will the government get gold to back it? Hint-from seizing it from you. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451772) |
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Date: May 12th, 2021 10:49 PM Author: Domesticated frum meetinghouse people who are hurt Where would I buy $10k worth of silver? Also what's the mark-up vs the price based on buying pslv? I assume purchasing physical silver is more expensive. How do they even ship it? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451650) |
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Date: May 12th, 2021 10:52 PM Author: Insanely creepy lake messiness if you buy PSLV you have better liquidity and can purchase silver for a tiny fraction over spot
if you buy physical right now you will pay a large premium (~20%). this is because the commodity exchanges rig the spot price artifically low. because there is only a finite amount of real, physical silver investors are willing to pay substantially over spot. the large premium is evidence of the manipulation of paper markets.
you can buy from any reputable dealer online. they ship it to your house via fedex or ups or w/e in a non-descript box.
findbullionprices.com |
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Date: May 12th, 2021 10:52 PM Author: Domesticated frum meetinghouse people who are hurt Ty (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451681) |
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Date: May 12th, 2021 11:01 PM Author: Domesticated frum meetinghouse people who are hurt Sprott Physical Silver Trust (PSLV): A unitholder must have enough units to equate to ten 1000 oz silver bars. Read more in the prospectus, Redemption of Trust Units for Physical Silver Bullion. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451750) |
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Date: May 12th, 2021 11:06 PM Author: Insanely creepy lake messiness this is actually very low for silver redemption
for the JPM one you have to redeem way more, and be one of 8 banks |
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Date: May 12th, 2021 11:08 PM Author: Domesticated frum meetinghouse people who are hurt That's like $250k (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451787) |
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Date: May 12th, 2021 11:12 PM Author: Insanely creepy lake messiness yes. it's high enough that you and i probably won't ever do it. but it's low enough that some people will and can verify they aren't just pretending to have silver (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451809) |
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Date: May 12th, 2021 11:14 PM Author: Domesticated frum meetinghouse people who are hurt Yeah it's not bad. I can't get that high though. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451819) |
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Date: May 12th, 2021 11:16 PM Author: Insanely creepy lake messiness if you have $140K and rent a brinks security truck you can buy a futures contract and pick it up yourself in NY (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451831) |
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Date: May 12th, 2021 11:23 PM Author: Domesticated frum meetinghouse people who are hurt Next time I'm in town. Why the truck? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451872) |
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Date: May 13th, 2021 12:02 AM Author: Insanely creepy lake messiness comex makes it difficult for anyone to take physical. they also try to bribe people to roll over their contracts instead of taking inventory in person
you have to have an insured brinks truck or they won't hand over the gold |
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Date: May 12th, 2021 10:45 PM Author: Odious abnormal theater stage really tough guy Thanks for starting this thread. I wanted to start a real detailed discussion about the hyperinflation now happening but I was too lazy to come up with anything in-depth. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451632) |
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Date: May 12th, 2021 11:14 PM Author: yapping idiotic telephone Cliffs on topics discussed ITT? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451818) |
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Date: May 13th, 2021 12:41 AM Author: vigorous cocky school milk Excavate dirt to build bunker, the deeper the better. (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42452330) |
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Date: May 12th, 2021 11:42 PM Author: Costumed bonkers chapel How much tax will the IRS charge when you sell your gold? (http://www.autoadmit.com/thread.php?thread_id=4826605&forum_id=2#42451961) |