Gold and silver prices are down

And yet equities did not rise. Mixed signals. Par for the course. Gold will do what gold does, but I'm thinking the miners got hit so hard over the last few days because of momentum trading, not because there's any rational argument for why they should be cheaper.
 
meh said:
And yet equities did not rise. Mixed signals. Par for the course. Gold will do what gold does, but I'm thinking the miners got hit so hard over the last few days because of momentum trading, not because there's any rational argument for why they should be cheaper.
Click to expand...

You can't have momentum if nobody owns something. [laugh] It's probably 100% short selling, and in Canada you can still naked short miners so there's that going on.
 
meh said:
Perhaps interconnectedly, December retail sales "beating expectations" suggests fed rate cuts might get postponed and that the economy is strong. Consumer debt levels also rose, however, which raises the question of whether consumers can keep spending or will hit a wall.
Click to expand...
I'm confident that when consumer debt is ready to burst Biden will issue an EO and wipe out all the debt. He actually should just issue an EO wiping out the US Deficit and be done with that as well.........
 
HARRYM said:
I'm confident that when consumer debt is ready to burst Biden will issue an EO and wipe out all the debt. He actually should just issue an EO wiping out the US Deficit and be done with that as well.........
Click to expand...
They'll just go back to stimmies. It gives them the ability to funnel truckloads of money to whomever they want.
 
HARRYM said:
I'm confident that when consumer debt is ready to burst Biden will issue an EO and wipe out all the debt. He actually should just issue an EO wiping out the US Deficit and be done with that as well.........
Click to expand...

Which will cause the US dollar to crash and burn. No one will want to hold US dollars and treasuries.

The US dollar will be destroyed. And personally I believe it could provide the basis for war.
 
HARRYM said:
I'm confident that when consumer debt is ready to burst Biden will issue an EO and wipe out all the debt. He actually should just issue an EO wiping out the US Deficit and be done with that as well.........
Click to expand...

He can’t do that cause that consumer debt is owed to his cronies, the big banks.

As for the national debt, that money is owed to pension funds, Social Security, banks and hedge funds, retired people. He can’t wipe that out either. And if he did, nobody would buy new debt.

There is only one answer, inflate away the debt by devaluing the dollar. That’s what is happening and will continue to happen but at a faster rate.
 
meh said:
They'll just go back to stimmies. It gives them the ability to funnel truckloads of money to whomever they want.
Click to expand...

That’s the big question, can they do this?

Suppose they did another 2020 stimmy bill, $5 trillion in handouts. We know last time they did this CPI inflation went to 9%. This would make it near impossible for the Fed to cut rates, and they’d probably have to raise rates. Meanwhile we’d have a $7 trillion deficit, so the Treasury would have to try to sell $7 trillion in Treasuries.

Who’s going to buy $7 trillion in Treasuries? The Fed, that’s who. The Fed’s balance sheet would go to $16 trillion. Would investors still trust the dollar or US Treasuries if the Fed is blowing out it’s balance sheet? I don’t know but we’re going to find out.

May you live in interesting times.
 
meh said:
Indeed. It would be a huge mistake just to try, IMHO, but whether these are morons who never learn or crooks lining their own pockets, they're anything but unpredictable.
Click to expand...

Everything we have seen shows (a) Washington will run up any deficit to support their handouts and (b) the Fed will do anything to support the Treasury.

So massive deficit spending and Fed QE (buying of that debt) is a certainty.

This is why I have so much faith in gold.
 
bullionexchanges.com

Bullion Exchanges | Buy Gold and Silver | Free Shipping

Live Gold and Silver Prices in USA. Bullion Exchanges - Your Precious Metals Retailer. Types: Gold, Silver, Platinum, Palladium, Rare Coins and Bars.
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ASE at spot.

You can only buy one, but if you plan to purchase anything else just add it to your cart.
 
Freddy Q said:
I've been buying up 64 Kennedy halves, found a source willing to sell at $9/ea = ~$27/oz, not too shabby. Love me some 64 halves...
Click to expand...

Love them. Bought a bunch of BU rolls a few years back when they were $125/roll. Couldn't help myself.

That is an excellent price today.
 
ASHDUMP said:
If the world turns to shit how would you guys fraction off some of your bars and coins?

It's there a tool or specialized pair of pliers where you can nibble off little sections?

Asking for a friend.
Click to expand...
Its why many of us love constitutional silver. 14 dimes, 6 quarters, or 3 half dollars = 1 ozt. Very easy to do varying fractional amounts.

If you've ever read "One Second After" (and if you haven't, I recommend that you do, as its one of the best SHTF books I've read), they use either constitutional silver ("two bits" = two dimes) or ammo (mostly 22 or 12ga) to pay for things in the after-the-SHTF-world.
 
barnabus said:
bullionexchanges.com

Bullion Exchanges | Buy Gold and Silver | Free Shipping

Live Gold and Silver Prices in USA. Bullion Exchanges - Your Precious Metals Retailer. Types: Gold, Silver, Platinum, Palladium, Rare Coins and Bars.
bullionexchanges.com bullionexchanges.com

ASE at spot.

You can only buy one, but if you plan to purchase anything else just add it to your cart.
Click to expand...

Per the Mint’s product schedule 2024 BU ASE haven’t been minted yet. What am I missing?
 
Varmint said:
It’s a little weird to me that Jim Rogers thinks SHTF is in our future and he chooses to live in Singapore. That place seems entirely dependent on everything working perfectly.
Click to expand...

I'm betting he has his private jet gassed up and ready to fly his family to safer locations if needed...

He's usually early with his predictions, but he's also generally correct in his analysis.
 
richc said:
I'm betting he has his private jet gassed up and ready to fly his family to safer locations if needed...

He's usually early with his predictions, but he's also generally correct in his analysis.
Click to expand...

Hmm yea I bet you are right. 😆

He’s great although after listening to him several times I feel like I’ve heard everything he has to say.
 
yogi said:
Per the Mint’s product schedule 2024 BU ASE haven’t been minted yet. What am I missing?
Click to expand...

Perhaps you are looking at a special collectors' issue such as from West Point? Bullion Grade coins are in stock at Kitco, Apmex, JM Bullion, and Provident Metals, and I have a 2024 Proof in hand.
 

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