Loading ...These demos are crooks they unlikely would put gold up. Plus foreign countries would probably try to drain it by trying to demand gold.
They will try to drain us of every cent they can though. Maybe even bail ins or fed controlled. They’re already trying to put things in place now.
Mr Copper
SM coughed up a turd in the last hour
That can’t be a good thing…
@goldilocks re What happened?
Long story. But anything or rather most commodities, including paper assets like the US dollar and gold are priced on the abnormally priced futures market for the greater good I guess. I told #### to send you my email address.
@goldilocks hi re your Calif a home worth about 50 k back then is worth about 6-700 K today.
Its my view that the $6-$700 k house has not kept up with inflation. The simplest thing to calculate is a fresh made slice of Pizza. Never modernized the production, simple labor and materials. .15 cents, times 20 is $3.00/ slice today about right. The other day I had one with sausage on it, $4.00/slice.
Around here the r/e market seems to have cycles 7-8 years up and 7-8 years lower for decades. Real estate rocketing is really trying to play catch up.
Poor Jimmy Carter 1977 to 1981, had absolutely NOTHING to do with what happened with the economy back then. Many widely held beliefs are wrong. The Fed took the gold backing off the dollar 1971. Dopey/Dollar dropped like a rock re commodities. Oil Gold Silver etc etc were climbing fast. The Fed raised rates 6% to 21% ’71 to ’81 about to slow down rocketing prices. By 1981 things got bad. “71 to ’81 houses here stayed flat at $40k, 10 years. The dow was flat 1968 to 1982 under 1000.
To get inflation numbers down the busted the unions and started importing artificially cheaper goods. Lots of people lost jobs and took 40% pay cuts at new jobs. The TRUE inflation increase of money supply was 1934 to 1971. Resulting in higher prices ’71 to ’81. But after 1971 they pulled OUT money supply with high rates. Like a big sponge mop.
A lot of the excessive high money supply went into gold and silver ’71 to ’81 and then the 18% CD rates kicked in, crashed AU and AG and all that money supply evaporated. Enabling the Fed to start increasing money supply again after that.
Think about all the excess money supply going into stocks and real estate bit coin and bonds. recently If those markets crash a HUGE evaporation of money supply will happen again. The Fed will LOVE that, and start a new game. That MIGHT need a new system with Gold backing. Very little money going into AU AG. All the other stuff is attracting it.
Mr Cooper
By the way where do you think gold is going?
When I was 19 I was made to believe gold would be way up in 5 years maybe 5000.
Now I’m over 60. What happened???
Surprise of the day
HUI still above 260 despite the carnage in the metals.
I guess there still is an hour left.
Mr Copper
Ps Housing and gas which then raised food prices is being artificially inflated by low interest rates moving out of banks, corporate greed and mismanagement never seen before that as Trump jokingly mentioned even Carter can be glad he will no longer be the worst president in history. But then Kamila is probably saying hold my beer.
Mr Copper
I take that back I’m adding only 50 s in my head. So 250 K but still almost 3 times more than it should be at 3 percent.
In fact they have been working on a fake 2 percent for how many years now?
Mr Copper
If the inflation rate was say 3 percent it would take 24 years to double. So a house at 50,000 back then should only be about 175000 today. In Calif a home worth about 50 k back then is worth about 6-700 K today.
re The Strong US Dollar, $1 Is Equal To 2 Hamberger Buns, Or 4 Slices Of Bread
And pretty much everything costs about twenty times more these days since the 1970s. So, a $20 trillion national debt is really only about a measly $1 trillion.
The $3 trillion spending package is really chump change, like $150 billion. Your $1,000,000 home is really only $50,000. If you were a millionaire in the 1970s you need $20 million today to boast you are worth $1 million.
And if you paid $50,000 for a house back in the 1970s, it has to be $1 million today to break even. If you add outside costs like maintenance and insurance, or interest charges on the loan you would probably need $1.5 million to break even.
Gasoline? It’s cheaper than my lifetime of driving. It was .25 cents/gal, times 20? It should be $5/gal today. $3.50/gal is cheap. A pack of 8 Hamberger buns is $4.00. One gallon of gas could take you 15 to 30 miles away for $3.50. One gallon of gas is worth FAR more than 8 burger buns.
If you go back to 1934 or the 1940s everything is probably 40 times more dollars needed for the same thing. I once saw a receipt for a new 1950 Chevy my uncle bought, it was $1,000. New chevy today?? $40-$50,000? Henry Fords new Model Ts in the 1920S? were between $300 and $600? New Fords today would be about 75 times more.
Don’t let crazy numbers fool you.
BREAKING NEWS:
THE U.K. GOVERNMENT WILL TEMPORARILY RUN GAS AND ELECTRICITY SUPPLIER BULB
THIS IS THE FIRST FORCED NATIONALIZATION OF A BRITISH COMPANY SINCE THE 2008 BANKING CRISIS.
Curiously
The Nasdaq has done a 180 and is now down.
Unfortunately, not helping our pm’s
Maddog
“My guess is this sell off in PM’s will be bought aggressively and treated as gift….”
A fair number of greens in my PF already … midgets marching to their own drummer.
Cheers
BBL
The Fed is going to raise interest rates … that’s a true story
I’ll tell you that one right after I tell you another true story. I call it “Jack and the Beanstalk.”
For any collectors
These dang things were going up while trying to buy. They sell out a batch then next batch is higher.
Bought a few cuz their kinda cute at Apmex baby Yodas. Said a 4 hour window I think one hours gone now.
https://www.apmex.com/yoda-app
Buygold
I don’t think this BS goes on forever … I just hope we’re still around to see some gold fireworks!
Joke reaction to Powell, entirely caused by scum
As soon as the news came out , dollar goes Bid,with the SM and PM’s are belted…as if to say look at the way the mkts love superman Powell….
The Fed is boxed in, it cannot seriously raise rates, due to to debt levels, all it can do its wait for the next crash and print loads more money and then do the same , until the world say we don’t want tr filthy dollars…everyone knows that.
My guess is this sell off in PM’s will be bought aggressively and treated as gift….
SLV trying to go flat
shares coming back a bit.
We never see gold come back on a day like today, but never know.
That would be a stunner.
Yeah Ipso
That’s worth a $50 hit.
It just never ends. Banksters cleaning up in the futures once again.
Mruk
Yes. Things were getting financially hard in Wisconsin. That included better paying job opportunities for a old state with community minded people. I remember that’s what my dad was working for is creating better paying jobs which he had to fight for until his accidental death.
One of my younger half brothers was in a band that was in those community parades. When he died and held out for his birthday at just 16 from cancer his band showed up at his funeral dressed in their uniform.
I know them as you and they will support and pray for the victims and many will know each other.
Knowing that and they probably won’t ask I hope someone puts up a go fund me to help the family’s through this.
Thanks for input on what’s going on in those city’s. Hopefully changes can be made.
Where your projects are located is important …
10.55am: Hochschild Mining plunges on Peru threat
Monday’s child is fair of face but Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) is more like Wednesday’s child: full of woe.
The shares plunged 40% to 99.65p after various media outlets reported minutes of a meeting signed by the Peruvian Head of Cabinet, certain vice-ministers as well as regional authorities in the town of Coracora in the Ayacucho region. The minutes refer to alleged environmental complaints, and state that a commission has been constituted in order to negotiate the timetable and terms for the closure of certain mining projects in southern Ayacucho, including the company’s Pallancata and Inmaculada mines.
The Peruvian Head of Cabinet subsequently indicated that approvals will no longer be granted to facilitate additional mining or exploration activities in relation to these mining operations. The company said it has not received any formal communication from the government regarding this matter.