expiredZim1 posted Feb 18, 2024 01:49 AM
Item 1 of 2
Item 1 of 2
expiredZim1 posted Feb 18, 2024 01:49 AM
Costco Members: 1 Troy Ounce 2024 Canada Maple Leaf Gold Coin (New In Assay)
+ Free Shipping$2,070
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I love when people say, "if the dollar goes to shit I'll have gold". That's a useless comment too, what are they planning on doing, buy some food, cut off a piece of their gold and exchange for it? My guess is the other side of the transaction will think you are crazy.
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The easiest current world example would be Argentina. Gold is up 20,000% or something in the last 4 years.
https://goldbroker.com/charts/gol...ical-chart
I have consultants there and even though we pay them in dollars, the government intercepts the funds and converts it to Arg pesos at whatever rate it feels like. I'm sure they all wish they had bought precious metals 5+ years ago.
Again, a LOT of things would have to go wrong before the US would descend to that level, but that's the type of fear that drives people to PM.
I love when people say, "if the dollar goes to shit I'll have gold". That's a useless comment too, what are they planning on doing, buy some food, cut off a piece of their gold and exchange for it? My guess is the other side of the transaction will think you are crazy.
The easiest current world example would be Argentina. Gold is up 20,000% or something in the last 4 years.
https://goldbroker.com/charts/gol...ical-chart
I have consultants there and even though we pay them in dollars, the government intercepts the funds and converts it to Arg pesos at whatever rate it feels like. I'm sure they all wish they had bought precious metals 5+ years ago.
Again, a LOT of things would have to go wrong before the US would descend to that level, but that's the type of fear that drives people to PM.
In a sense, any world currency is now back by their military might since as show in gulf war, country as rich as Kuwait (currently 5th richest countries in the world) doesn't mean anything if they can't defend themselves.
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And you have to ask yourself this basic question. If they mark it were to collapse who's going to set the spot price of gold? What's not going to make gold equivalent to platinum or silver? You can't eat them. You can't really cut a $2,000 30 g object into pieces since they started serrating the edges of these coins. If you're trying to head your bat against inflation, I would be personally buying platinum cuz that's at a point now where you can get 2 and 1/2 oz of platinum versus gold. It won't get confiscated. It's impossible to counterfeit due to its physio metallurgical properties and silvers actually the best but people seem allured to gold... With 33 trillion in debt they're not going to go for the silver. They will go for the gold first and foremost and there's just going to subpoena all the records from Costco so I'd be buying it from smaller distributors.... or your local coin shop.
Example using a family spending $500/mo on groceries:
Today for $2000 they can buy either an ounce of gold or groceries for 4 months. SHTF and groceries increase 8X. Now that $2000 only buys them two weeks of food, but if they have gold it should have held it's value against the dollar and now be worth $16000/oz. Still enough for 4 months of food.
I'm not endorsing that line of thinking. I'm just passing it along from previous generations who lived their entire lives thinking that scenario was just around the corner. I don't buy PM, but I click on every deal out of a weird sense of obligation.
RIP Dad and don't worry, I still have every bit of silver you and grandpa saved "just in case."
9mm rounds. The true alternative currency.
This aged well
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