Well...that's comforting...
A big FU to all the Central Bankers...a bunch of effing morons who think they were smarter than everybody else. They make the Enron crooks look like angels.
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Lords of Finance.HoustonHusky said:
A big FU to all the Central Bankers...a bunch of effing morons who think they were smarter than everybody else. They make the Enron crooks look like angels.
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Lol there was no reason it should have been that high to begin with
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I mean, that's tantamount to saying, "we have to prop up this economy on printed money because it's not really there."
The only good news from that for me is that my lump sum pension benefit will be a lot higher because the modeled discount rate ain't gonna apply. Then again, what will I do with that higher lump sum?
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It’s comical on so many levels, and it ignores the idiocy of the govt in all of this. Is there ANY reason for Congress to worry about closing the deficit if the Central Bank just confirmed you’ll never have to worry about paying real interest on the money you are borrowing, which in turn leads to the Central Bankers printing more money to buy that debt that Congress just issued that nobody wants at the artificially low interest rates the Fed is pushing on everything.
Nasty feedback loop, but I’m sure I will be amazed at how long they can keep it propped up. -
This is why I'm a fan of having a small portion of physical gold and/or silver. Gold is tough to hold physically as it costs you over $1800 right now for a single 1oz coin (I know, I'm poor). So I've been buying little chunks of silver each month. I'm buying about 10oz per month right now, just to build to about 200-300 ounces. Buying Silver and Gold won't make you rich, but it's always going to have value.
The annoying thing right now is everybody else is doing it, so the premium over spot is ridiculous. A year ago you could buy silver at .69 per once over spot. Now it's $5.00 per ounce over spot. So if the price is $27, you're paying $32 for the same silver. I've never seen the premium this high before. So I might actually hold off until supply can catch up and there's a realistic premium again. -
What I always wonder is, when the shit really and truly hits the fan, will anyone really want to barter with shiny metal? I mean, who fucking cares? If you're not making jewelry, or one or two industrial applications, it's useless. People might immediately react by running to it; but eventually realize you can't eat it, sleep under it, or use it for much.greenblood said:This is why I'm a fan of having a small portion of physical gold and/or silver. Gold is tough to hold physically as it costs you over $1800 right now for a single 1oz coin (I know, I'm poor). So I've been buying little chunks of silver each month. I'm buying about 10oz per month right now, just to build to about 200-300 ounces. Buying Silver and Gold won't make you rich, but it's always going to have value.
The annoying thing right now is, everybody else is doing it, so the premium over spot is ridiculous. A year ago you could buy silver at .69 per once over spot. Now it's $5.00 per ounce over spot. So if the price is $27, you're paying $32 for the same silver. I've never seen the premium this high before. So I might actually hold off until supply can catch up.
Hard assets will rule the day if it gets bad enough. -
Silver isn't quite the dystopian play as gold is. Silver is more of a manufacturing asset. Silver is very important for computer components and solar panels. In the future, silver is going to be extremely important if the world goes into the eco friendly environment. Owning the physical silver is the key. Because it's not really a "short squeeze" we are seeing, it's actually a "physical squeeze" in silver. It's only a matter of time before the physical squeeze becomes so big, that prices have to climb.creepycoug said:
What I always wonder is, when the shit really and truly hits the fan, will anyone really want to barter with shiny metal? I mean, who fucking cares? If you're not making jewelry, or one or two industrial applications, it's useless. People might immediately react by running to it; but eventually realize you can't eat it, sleep under it, or use it for much.greenblood said:This is why I'm a fan of having a small portion of physical gold and/or silver. Gold is tough to hold physically as it costs you over $1800 right now for a single 1oz coin (I know, I'm poor). So I've been buying little chunks of silver each month. I'm buying about 10oz per month right now, just to build to about 200-300 ounces. Buying Silver and Gold won't make you rich, but it's always going to have value.
The annoying thing right now is, everybody else is doing it, so the premium over spot is ridiculous. A year ago you could buy silver at .69 per once over spot. Now it's $5.00 per ounce over spot. So if the price is $27, you're paying $32 for the same silver. I've never seen the premium this high before. So I might actually hold off until supply can catch up.
Hard assets will rule the day if it gets bad enough. -
I agree with Powell.
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Metals are the hardest of hard assets.creepycoug said:
What I always wonder is, when the shit really and truly hits the fan, will anyone really want to barter with shiny metal? I mean, who fucking cares? If you're not making jewelry, or one or two industrial applications, it's useless. People might immediately react by running to it; but eventually realize you can't eat it, sleep under it, or use it for much.greenblood said:This is why I'm a fan of having a small portion of physical gold and/or silver. Gold is tough to hold physically as it costs you over $1800 right now for a single 1oz coin (I know, I'm poor). So I've been buying little chunks of silver each month. I'm buying about 10oz per month right now, just to build to about 200-300 ounces. Buying Silver and Gold won't make you rich, but it's always going to have value.
The annoying thing right now is, everybody else is doing it, so the premium over spot is ridiculous. A year ago you could buy silver at .69 per once over spot. Now it's $5.00 per ounce over spot. So if the price is $27, you're paying $32 for the same silver. I've never seen the premium this high before. So I might actually hold off until supply can catch up.
Hard assets will rule the day if it gets bad enough.
We have 5,000 plus years of evidence. -
I'm hearing it's over. Get out guys. Sell me your house for half value. I'm doing you a favor
