Stop wasting our time.
I know someone who is invested in Grayscale. I have not gotten into it yet but am considering it. Just have not had the time to investigate it. As far as taxes crypto is treated as a commodity for tax purposes. If it has been on an exchange they know you have it and if you dispose of it you will have liability. If you keep it a year or more it is long tern capital gain.
If you get Tezos you can keep it on Coinbase and get a return of around 5%
Ethereum is looking very good right now, with smart contracts and defi. It has just gone up 14.5% in the last 24 hours to $397. I am expecting a pullback this week then another run . But it is just guess work. Go to trading view and see what they are saying. I have seen crypto destroy TA. Good luck
Only you can waste your time. Mine is quite well spent.
Thank you for your concern.
My first purchase was at $748/oz. and folks like you who told me to stop wasting their time are now trying to find it at what price?
But your right, I meant to post that else where. Thanks again for your keen wit and intellectual prowess. Remember to never look down the barrel during a jam.
First, here’s a visual representation of the strong correlation between real interest rates and gold prices. We are currently in an extremely bullish environment with negative real interest rates.
And, here’s a link to a fairly comprehensive nondogmatic assessment to investing in gold/silver.
Here’s an article written by Craig Hemke about a month ago on the whole delivery issue. He helped clear some things up for me - I just track markets, I’m not an expert on the COMEX process. He is. This wasn’t important before, but it certainly is now.
Here are some of the important numbers. Deliveries are up by - maybe 5-10 times.
https://thedailycoin.org/2020/07/01/extreme-comex-delivery-demand-continues-craig-hemke/This data could well be an important driver for the price of gold going forward. Too bad I don't have it on a data feed! It is available - as a pdf at COMEX. This is something I probably need to track. https://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsMTDReport.pdfOver the past several years and for as far back as I have records, an average “delivery month” for COMEX gold sees anywhere from 6,000-10,000 “deliveries”. In the period 2015-2019, the highest amount of monthly “deliveries” came in June of 2016 with 15,785 contracts. The lightest delivery month in this period was just 922 contracts in April of 2017.
Again, to restore legitimacy to their COMEX exchange, the CME Group openly moved to make the COMEX a delivery vehicle in April of this year, and the result is astounding:
• For the delivery month of April 2020: 31,166 total deliveries
• The non-delivery month of May 2020: 10,277 total deliveries
• The delivery month of June 2020: A blowout of 55,102 deliveries
• On just the first day of the non-delivery month of July: 3,316 deliveries
[July (final): 9,607 deliveries] [August (first 2 days): 34,874 deliveries]
Don’t hold your breath waiting for a handle. Get in now, and don’t count on any significant pullback.
LOL. Ive been meaning to catch up on my BOLTR videos. How many times have I impressed friends and family by referring to ALI Express as “Chairman Mao’s dollorama”? How many laughs have I gotten referring to myself as “A self identified lesbian of colour”?
I believe the guy behind those videos has involvement in the gold mining industry. Ill be sure to make time to watch his recent vids now. Ive always wondered if he was a bit anti-gold (like a lot of people in the mining industry kind of are).
/Spoken in Crocodile Dundee voice/
When/if this thing breaks to the upside, …
… we’re gonna need a bigger log chart.
Please don’t waste your money on silver. Today silver is an industrial metal, no different than copper or iron except that some people remember it as a monetary metal from the days of precious metal coins. It was once a monetary metal only because Gold was too precious and rare for small denomination coins. In the past iron and copper were also used for small denomination coins in lieu of gold and silver because those metals were also relatively rare.
It makes as much sense to consider silver as a monetary metal today as it does to consider iron and copper monetary metals because of their past history as coins.
Consider, how many central banks hold silver on their balance sheets? How many wealthy individuals? The answer is NONE. They hold gold and only gold as a store of wealth among all metals. Think like a GIANT!
Gold is the ONLY top-tier wealth asset which is just as available to the common person as the extremely weathly.
Metals merchants don’t want you to understand this because they earn a significant portion of their revenue by selling you an industrial metal (silver) that you wrongly believe is a monetary metal.
Silver will never again be a monetary metal. We will never again have hard coin currency, even after hyperinflation, which I do believe will come. Think and ask someone who has experienced hyperinflation in modern times. Will Walmart cashiers be trusted to accept silver and gold coins as currency and make change? Ridiculous!
Instead they will continue (and be forced) to take only (rapidly inflating) dollars.
Silver was money for centuries upon centuries. Only in 1965 did it officially leave the US monetary system. It of course almost immediately vanished courtesy of Gresham’s law. Interestingly enough, mints all over the world still coin silver money. In fact, you could buy a 1 oz Silver Eagle from the US mint right now for $37. The blip that silver has been out of the official system is minuscule and the long historic lineage of silver money stands in great contrast to the debt driven fiat machine we live in. I’ll gamble on thousands of years of monetary history over 55 years of debt exuberance. Thanks for playing…silver will never go to zero. It will add zeros.
Don’t lie. I never said silver would go to zero. Nor will copper or iron. Go try to spend your silver or gold coins at the grocery store and report back what happens. That will never change. Horses were the primary mode of transport for thousands of years. Do you have one also? I suggest that you only invest in silver as a monetary medal if you also believe we will return to riding horses to work. If you recognize that we will adjust to a new post-debt life that still incorporates modern technology then buy gold.
Gold, not gold coins is the true wealth store.
.gold and silver is money… everything else is credit…
basing ones investment decisions on that principle, will imply in these times forget “yields and “price”” and focus on resilient value.
gold and silver , raw lands, and commodities are the things to seek and possess .
Well, c’mon AT. Sure, silver is an industrial metal. Doesn’t mean it has no numismatic value; ie, doesn’t follow that it has no wealth storage value. Gold is also an industrial metal, and good for jewelry, like silver; doesn’t follow that gold is no good for wealth storage.
So far all you’ve done is tell us you don’t value silver as a wealth storage metal. Fine. Don’t buy any.
Everyone has opinions. What you have not done is document your opinion that silver no longer has a role as a precious, a value-storage, metal. It’s just your opinion. Yet, contradicting your assertion, every jewelry store demonstrates that silver still has numismatic value. I see no reason to think that’s going to change any time soon.
Silver’s also accessible to people who have limited means, for whom gold is already out of reach. And is likely more practical for people who haven’t significant wealth to preserve, but who want to hedge against the possibility that one day fiat becomes worthless or suspect.
For my part, I’ll wager silver is more likely to be usable as a daily exchange metal than gold if we ever fall into that fiat-doubting world. In fact, I have wagered on it.
So, next to yours, here’s my opinion, for what either is worth. (Mere opinions are worth every penny free advice costs.) Gold is good for storing wealth until the reset bottoms out, when physical and financial assets are available on the cheap; that’s the time to trade gold for high quality stocks throwing off dividends, and/or for more land or select real estate. Silver - esp. in small denominations - is good for buying and selling in the midst of the reset event, while currency is in doubt. It will probably help me get the things I want or need during the crisis. But if silver ever pops up to its historic valuation vis-a-vis gold, I’ll be sorely tempted to trade silver for gold because that would turbo-charge my gold investment.
,in the current state I would gladly exchange PM’sfor hay,grain,beef,lamb,veggies,wood,etc. Don’t! Even think about american express! or bitcoin for that matter.
when the property tax man cometh? I hope to be prepared.
husband,father,farmer,optometrist (obtw HCQ maculopathies are dose weight time dependent)
Regarding horses: did you know we have as many horses and the infrastructure as we did back during the Civil War!? It’s true and I would love to be back to the horse and buggy days. So much so I may just get one to pull a sleigh in the winter just to experience this joy first hand. Then again, I probably won’t. I don’t know anything about horses so would be an expensive feel good event. Instead I’ll rent one as a huge horse Farm will be opened up not far up the road from us. I can’t wait to meet these Folks and request some of the poo for my compost pile. As my nephew who is a plumber would say “your shit is my bread and butter”. I know exactly what this means and he is so right.
Silver is a great investment and time will prove this out. You must remember, people mostly know that Silver and Gold are money so will go within their comfort zone if paper does fail. I still think paper will be around a long time or plastic because everyone understands it, will accept it. I know I will.
Regarding plastic: I believe this form of payment could collect the tax that now is skimmed off in the underworld markets (tax avoidance) and be taxed helping all those who pay taxes get those who try and avoid taxes. I don’t know why we go through the stress or risks of jail time trying to avoid a few thousands bucks. I did at times through out my years in construction but, my conscious never served me well when I did. I want a strong military, strong economy. services. so I’ll pay for this. What I don’t like are tax avoidance or others who make me pay more because they don’t pay anything at all.
None of this matters at all, not really, all that matters is you play the game with integrity, live the high character life style where your word is your bond and you will succeed so much more than if you game the system and look and act like a sloppily dressed fool.
Regarding Gold: You can make a very good living buying others Gold, especially jewelry. So many people have chains with broken lock sets that can be picked for next to nothing. I would often ask what they wanted for it at a party to buy Gold. $20 bucks seemed to be the common answer on chains worth way more than that so for just a little hustle time you get what you want on the cheap and they get something out of it as well so all are happy. If confronted by that one asked question (usually), “well how much is my broken chain worth?”. I would say to them that for me to gather it up, take it in to get fixed and all that entails it really isn’t worth that much more to me. I will still get the sale. However, when you take 100 chains in the hassle doesn’t seem so real. Plus it’s a party. you provide good food and friends to gather/ It’s an event and a positive gathering so worth it as the chains that are broken are no longer something these previous owners must think about. It’s a win-win. Thing is you just have the weight of the metal, do nothing except to get it melted down and put away. I will still BUY Gold this way but I don’t hustle it like I did when I was younger, I have what I want. I was gifted (long story) many years ago my Grandpa’s treasures by my family for taking care of my Mother so I don’t ever think that this is a liquid asset for me. I would only use it for family needs, the whole family. If any of my Brothers or sisters needed help then I pay attention and resolve their issues.
I place more value in my land and time spent there. So much needs to be learned or fixed or resolved that I have no time for anything else. The main reason is the time spent growing food is so peaceful and gratifying that when I sit on our porch, with coffee and a nice smoke I get to feeling so good about life that it’s all I ever think about. To have Barb there with me feeling and talking the same feelings just makes everything so much better. Additionally we will have our friends with us, they live 450 feet from us. a short walk through a wooded trail we worked to put together for when we visit each others. All of us feel as though each others homes are our own because we all work so hard for the common good that these terrific feelings are shared with them also. Then another friend up the road will notice we are all on the porch, will stop to say hello, ask if we might take care of their dogs when out of town, sit and have a beer or coffee and soon we are all talking about how lucky we all are for having the simple life, a throw back life and how good it is to have friends that look out for each others. This is the monetary system I wish to have, where I don’t dig into my pockets to pay for something, we just exchange good will and things get done. Love you all, now take that first step. Sager is right, listen or read what he said because he is so right. Maybe we will be gifted another 10 years of time and you can have everything you could possibly imagine and there are Folks out there that are waiting for you to show up so collectively you can get things done where it seems impossible now. My strongest recommendation is this: no one cares how hard they had to work to help you, no one measures that against the project they may ask you to help them on. What gets measured is that you’re there busting your hump for them and getting done what they think is most important. That’s the monetary value. That everyone gets done what they need done. Remember too, clean and replace the tools they give you to help them. This is important and shows you care. That or bring your own tools but still clean them, it impresses everyone watching you do this. Tools are so revered by us back woods type so like tending a garden, respect them… Peace
Please don't waste your money on silver. Today silver is an industrial metal, no different than copper or iron except that some people remember it as a monetary metal from the days of precious metal coins.LOL What a distinctly western point of view. Try traveling some time. Maybe to India...a place with a population exceeding the entirety of the US, Canada, Mexico, all of Europe and Russia combined. India's population values silver as a store of wealth. So do the people of many other countries. But beyond that, you may also be interested to know that as an industrial metal alone, silver has an exceptional story of utility and depletion. Very different from copper or iron. But to get to that story you'd have to invest some some in learning the details.
Go try to spend your silver or gold coins at the grocery store and report back what happens.Sure, I will agree with you on that point. And that's simple because eventually there won't be any box stores. Real people will gladly take your gold and silver coins. Big box stores are just an artifact of cheap energy, specifically cheap oil. Without cheat oil there is no trucking industry. Without cheap electricity, how will they light and cool those large stores. A road side tent selling garden vegetables and eggs has almost no overhead. Thus, those will be with us for as long as we still have people around. The consequences of hyperinflation seem a little harder to predict. But I can imagine after several years of hyperinflation, that people will easily move away from trading fake paper into trading real things for real things. It will take some time for people to re-learn the ratio of things. Will that include gold and silver, I don't know. There are a lot of things that could go sideways there. Another point, I think as people see dollar price of gold and silver go up and up, they will take notice. It will be a gradual process. We'll see the price of everything else go up too, but gold and silver coins are portable. There are solid reasons people have used from for thousands of years. -Travis
Got any silver you want to sell? I’ll give you the same value in copper all day…
The current market for physical gold and silver has much too wide a spread to be useful in transactions. The gold spread is at least 5% and the silver eagle spread is more like 10% . To be useful this spread needs to be closer to 1%. That will only occur if there is a legitimate market that exchanges fiat for PMs with no tax on “gains” and quality assurance with no default risk. If the government is not interested because it has a pecuniary interest in the alternative system, it is unlikely to occur on a viable scale. The 95% of the population without gold will prefer whatever political money is offered them especially if it is sweetened with some form of UBI. I suspect electronic money (or a cashless society) is the future of public money. Gold and silver will remain private money with transaction costs. They can then also be controlled like illegal drug sales. How do you buy heroin with no cash? How do you sell gold at a coin shop? Taxable event. And if you buy it–it’s recorded.
Societal collapse is a whole other issue with money only one of many concerns…