Precious metals

pretty sure that is a tv show, no? not where i would get my reality checks from...

 

insert 'not sure if serious meme'.

 

If we get that far you will only need silver bullets......

 

Actually serious. It's the government. You don't have to agree with it but the budget hasn't been balanced in years and the jobs keep coming and the earnings keep growing. We all pay our taxes, the lights stay on and our pockets get fatter. No sense in fighting something that's out of our control.

 

Until we aren't the reserve currency, then we can't force other countries to pay our debt anymore.....

 

Sure but we will always be the reserve currency. Just because there's a chance we would be is the same as saying Kia could create a midsize truck. Doesn't mean everyone will buy it or they would unseat Toyota as the dominant player in the field.... But you know. It could happen.

So I'll play, who unseats the US and the dollar then? China? Japan? Canada?!?

 

No one knows but china has been stacking the most gold, they have close to 10,000 tons or more.... Russia is in good shape but are way too small and the EURO sucks....

So that leaves just China.. They will probably offer a gold back currency for trade... But they may accept other gold backed currencies...
So they dollar may not be replace 100% but have a reduced role... The world has already set up the Yuan swap facilities including Europe.... So the world is already for the Yuan, but everyone is so invested in the dollar they will try to make the transition slow and smooth... ( so no mad max scenario ) So we will see prices go up and they will have a million reasons why except the truth, just like 1973...

China has 3 trillion + US dollars they can't get rid of them over night.... The rest of the world hates us and will stop using the dollar as soon as a good alternative comes on line...

So I think 5 or 10 years of high inflation like the 70s is what will happen but a small scale Greece scenario is possible...

 

And yet somehow China has been buying less gold, looks like your Yuan ain't gonna do squat for the world. All hail the good ole US greenback!

Gold is losing its shine as interest from China and India fades.

Global demand dropped 12% during the second-quarter compared to a year earlier, a report from the World Gold Council Thursday showed.

China and India, the world's biggest gold buyers, were responsible for almost half the fall in demand to 914.9 tonnes.

Gold prices have been sliding in recent months as a stronger U.S. dollar and expectations that the Federal Reserve will hike interest rates for the first time in nearly a decade scares off investors. The metal current trades at $1,117 an ounce.

 

Short term dollar, long term gold always wins..........

Trying to find the supply side the -12% could be from less supply....

http://www.gold.org/supply-and-demand/gold-demand-trends

This is far from over...... The trend is going away from the dollar...........

 

WOW really? "www.gold.org" oh yeah, are they ever bearish on gold, like you know, ever????

 

Yeah, all I keep thinking about is how @T Fades tries to say a TV show is a terrible source of information on how good coins would be in a post apocalyptic USA but still supports a guy who thinks gold and silver promotion sites are great sources of information for investing in coins . This thread really is the shits for advice. Hence why all it is now is a joke of an argument between those who like to preach and those who like to argue.

 

You can't be serious in thinking The Walking Dead (fiction) is remotely close to what could be reality. You must believe in the zombie apocalypse.

What I am discussing is a REAL (non-fiction) possibility of why PMs are a good thing to have in one's portfolio.

That's cool, if you don't think PMs have their place, you are perfectly entitled to your opinion, as I am.

 

But you are right, with the way this conversation has been heading, it is a joke.

 

I was simply pointing out it was ironic to trust an extremely biased internet source but not a tv show. Both are crappy references.

I think PMs have a place, but on here they are being oversold. Particularly the coins, which star off heavily in the red. There are tons of ways to safer your position against the dollar, including PMs, but in many ways you are counting on a specific circumstance to happen that may or may not come to be.

Your opinion doesn't offend me at all . Tbh I intend to invest in a few coins at some point but it will be mainly a hobby rather than a true investment.

 

Where have I trusted extremely biased internet sources? From Paul Craig Roberts (who used to work for the Fed and has admitted they have huge flaws in their models, and who also a co-founder of Reagonomics)? From Jim Rickards (who was a stock broker, and is a well respected economist who the gov't and Fed has leaned on to understand the 2008 stock/housing market crash, and also predicted currency wars and the potential for the dollar to fall due to over-leveraging)?

The only place I mention that is considered 'biased' in your reference is JM Bullion, who I simply use to buy from, not take advice from.

 

You've backed up @shr133 a few times, I didn't mean it with any malice . I also don't agree that those sources are necessarily the best out there but I fully agree that's a matter of opinion.

 

Yea it's all good. No offense taken, we'z just shootn the shit.


Yea I do think what shr133 believes is on track about why bullion is good to hold. I don't necesarily know his sources.

 

Pretty much summed up why I have given up on this thread. I would site data from BLS and US Geological Survey on metal usage and told the numbers are lies and rebuked with "data" from the Silver Institute (lobbyist & advertising group). I want to have a rational discussion based on data, not some baseless rhetoric and YouTube videos.

 

That would actually be good for the world as a whole.

 

But this is not true. He was a lawyer for a brokerage and is currently a book writer, Nothing more. I have no idea where you got this info from. He is nowhere close to being an economist! The government did not lean on him. He testified before congress as many citizens do. Jim Rickards is a hack, period.