# As gold nears $1900.00, could this be the big one?



## silversaddle1 (Jul 23, 2020)

Well, will the gold price top it's all time high in the next few days? $1900.00 is my sell point and I think I'm going to stick with it. But then that little voice........ :shock:


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## jimdoc (Jul 23, 2020)

I wouldn't sell it all. Keep some for insurance.


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## rickbb (Jul 23, 2020)

My sell point is $2k. Only have a bit over an ounce and close to 3 9's. 
As soon as it's $2k, you will see it on here.  :G


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## butcher (Jul 23, 2020)

I would guess during these times with money printing presses running at full speed we will see new High peaks in the price of gold and silver, with $2,000.00 an ounce for gold $20.00 for an ounce ofsilver very possibly being the new low point on the scale.

I would hold onto some gold if, at all possible, I feel even the daily spot prices we see do not really reflect its true value, which we may not see until a further collapse of fiat, euro's, bitcoins, and digital money, and gold stock, or big company's stock or even harder times...

I will just buy the bread I need today with the money I can get today, and save the hard-earned gold, for the hard times when there is no money and we need the bread.

In my mind, the price of gold is always more than I can afford today, the selling price is always low compared to its true value, it is always so very hard to get, and easy to lose, it came from the ground and should stay buried there until it absolutely has to be used as a means of survival, at which times for me it has real value.

Seeing a few tiny flakes of gold in the pan after a long day of panning I do not see money or bread, but I can see the golds real value for me. it makes my heart beat strong, and is worth more than any dollars, I enjoy it and plant it back into the ground to let it grow for a rainy day...

As the price of goods and bread go up in price and the amount you can purchase with your dollar goes down, so does the spot price climb on these metals, so in a sense, the bread or commodities did not go up as much as the value of the dollar fell, the gold price is only reflecting the other commodities price or value...


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## snoman701 (Jul 23, 2020)

If fiat collapses, your gold is worthless anyway. It's not like the world is going to stomach the collapse of modern currency and wealth then go back to trading silver pieces for bread. 

Anyhow, what you just saw was an episode where the growth in the spot price of silver grew faster than the growth of the futures price.

So yes, things are heating up, and I wouldn't be surprised to see gold well above 19. 

Lemme put it this way. I'm in a hurry to get my silver melted and sold. No such hurry exists for gold.


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## glorycloud (Jul 23, 2020)

"If fiat collapses, your gold is worthless anyway. It's not like the world is going to stomach the collapse of modern currency and wealth then go back to trading silver pieces for bread."

Interesting conclusion. Care to elaborate? What is your theory about what will happen in the world if "fiat collapses"?


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## jimdoc (Jul 23, 2020)

Firearms and what is needed to feed them are good items to get if you don't have them already. Prices are way up on those as well, like gold and silver, and availability is also a problem. If fiat collapses, self protection should be your number one concern.


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## silversaddle1 (Jul 24, 2020)

Firearms, ammunition are not a issue around here. That's very well covered.


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## kurtak (Jul 24, 2020)

jimdoc said:


> Firearms and what is needed to feed them are good items to get if you don't have them already. Prices are way up on those as well, like gold and silver, and availability is also a problem. If fiat collapses, self protection should be your number one concern.





> Firearms, ammunition are not a issue around here. That's very well covered.



Yep - I agree --- if you are not already invested - buy lead --- & as the saying goes - "keep your powder dry" :mrgreen: :twisted: 

Kurt


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## snoman701 (Jul 24, 2020)

glorycloud said:


> "If fiat collapses, your gold is worthless anyway. It's not like the world is going to stomach the collapse of modern currency and wealth then go back to trading silver pieces for bread."
> 
> Interesting conclusion. Care to elaborate? What is your theory about what will happen in the world if "fiat collapses"?



I'd put a wager that 90% of the US doesn't know how to grow food. Game will be wiped out almost immediately. There will be no "coming together" of communities. We can't even wear masks to stop the spread of a disease without it being a political who's side are you on issue. Science means nothing. End of Fiat means the end of medicine. It means the end of big business. It means the end of the internet. The end of global economies. 

So with 90% of the world needing food, and nothing to feed them with, it's going to devolve into chaos. I live on 2 acres in a tiny county....but i can assure you that should it hit the fan, one of my neighbors will skin me for my poultry. 

My 350 lb neighbor who keeps to himself started in on a survivalist *I've got guns and ammo* kick one day when I returned some of his chickens that had escaped his pen and wandered in to my backyard. Don't know where he's going to get his blood pressure medication. If people used even an iota of the energy they waste on their fear of the unknown to better themselves in the present, we wouldn't have to worry so much. 

Don't waste so much time on your survivalist romances where fiat is wiped out. Worry more about the end of the US dollar being king. That's coming soon. Already underway in fact.


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## silversaddle1 (Jul 24, 2020)

The good thing is we live on 10 acres in the country as well. My wife works at the organic farm next to us. We have a garden, chickens, and have all the skills needed to raise our own food. We know how to can, preserve, and hunt. We can make power on a limited basis, and with a electronis recycling business, we have all kinds of equipment/wire/parts to build a turbine if needed. Solar will do, but options. I don't worry about end of world days too much. It won't happen.


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## snoman701 (Jul 24, 2020)

Yeah, I wish I had more land, but honestly, with the amount of plants I already have, and have planned to pack in to my two acres, ten would be too much. Actually, I really want the neighbors empty lot just to put in a small orchard. 

What I really need is a neighbor with horses....mostly because I want their crap. Two acres of sand...trying to build the soil as quick as I can. 

I live in a 1950's subdivision in the country, where everyone has an acre on a dead end road. We all tend to get along well. Next year the kid will have a produce / egg stand, we've just been giving it away thus far. If I can figure out the squash vine borer. Little jerks killed all my pumpkins and are moving on to my squash. 

What I'm working on right now is planting chicken food plots. We are up to 15 of the little ingrates. They eat a lot. So I'm trying to make a bunch of seed gardens, so I can just push the chickens from one place to another. The geese keep the lawn mowed. The ducks...well, they keep me entertained.


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## silversaddle1 (Jul 24, 2020)

Too bad you are not closer snoman, I'd give you all the manure you could haul. Well, to the point of it's all cleaned up. We clean the dry lots, run in sheds once a year and the organic farms line up to haul it away. Good for us, good for the horses, good for the farms. All we ask is a little money for fuel or bring some with.


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## kurtak (Jul 24, 2020)

butcher said:


> I would guess during these times with money printing presses running at full speed we will see new High peaks in the price of gold and silver, with $2,000.00 an ounce for gold $20.00 for an ounce ofsilver very possibly being the new low point on the scale.



I am going to start this post by saying I know it is against forum rules to talk politics 

With that said - what happens with the price of PMs (gold, silver, PGMs) is going to depend on what happens with the elections this next November

Why do I say that ? --- because depending on the out come of this election is going to depend on what happens with the rate of inflation - & when the rate of inflation runs away the price/cost of ALL commodities (including PMs) the price/cost of commodities MUST keep pace (at least to a point) with the pace of the rate of inflation going up

There is only one party (& I don't need to say who they are) that is blatantly - openly - promising - to - DUMP - HUDGE - amounts of money into the economy - & as much as all the "free stuff' sounds good - the FACT of the matter is - the rate of inflation will run "rampant" - like has never before been seen

Printing press will not be able to keep up - you will not be able to put enough $100 dollar bills in your wallet to pay for anything so money will have to go all digital

I have been considering selling "some" of my gold & silver because I could make good money on it right now - even though it is likely to go up some more (at current rates) which over the next "few" months wont likely amount to a lot more

However - should our political leadership change come November - I believe - without a doubt - that gold & silver will take off (along with ALL other commodities) like a rocket on the way to the moon

That all said - please do NOT let this go to "personal" opinions of what you think about Democrats VS. Republicans - keep it in the context of how you may - or not - effect the price/cost of PMs &/or commodities

Kurt


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## snoman701 (Jul 24, 2020)

I honestly don’t think the election will make much difference. The market is overbought, the economy is in the crapper, and we are in the early stages of a pandemic. 

Commodities are going to shoot up either way. Silver will lag. Pd will depend on China. None of the rocketships will increase buying power, it’s all the failure of the dollar and the trillions the fed keeps dumping in to the market. 

The election will determine what happens after the crash. The crash is coming either way. 


Sent from my iPhone using Tapatalk


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## snoman701 (Jul 24, 2020)

silversaddle1 said:


> Too bad you are not closer snoman, I'd give you all the manure you could haul. Well, to the point of it's all cleaned up. We clean the dry lots, run in sheds once a year and the organic farms line up to haul it away. Good for us, good for the horses, good for the farms. All we ask is a little money for fuel or bring some with.



Round here the well composted manure runs $50/yd from the nursery. 

Pile it up throughout the year, rot it out well, and sell it by the trailer load dumped directly on someones garden in the spring.


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## kurtak (Jul 25, 2020)

snoman701 said:


> I honestly don’t think the election will make much difference.



Really ??? --- & yet you also posted -----



> it’s all the failure of the dollar and the trillions the fed keeps dumping in to the market.



And yes I agree - currently - as a result of the pandemic - the fed has "dumped" a few trillion into the market & that has devalued the dollar which has increased inflation --- example - here where I live groceries that a couple months ago cost me around $50 - $60 a week are now costing me $70 - $80 per week --- & thank god I have elk, deer, beef & pork in my freezer (because I hunt & "home butcher") other wise my grocery bill would be outrageous

So yes with just a few trillion being dumped into the economy - we are already seeing an increase in inflation due to devalue of the dollar - which in turn is causing the price/cost of commodities - including PMs to go up

Now - can you imagine the rate of inflation & the devalue of the dollar if the Dems take control & implement the so called "social programs" they "openly" say they intend to implement 

I mean - really - think about it !!!

The green new deal - free higher education for ALL - free medical for ALL - increase of minimum wage to a so called "living wage" - topped of with a free check of $1,500 per month for low to mid income earners (in other words an increase in minimum wage plus a free check)

Now then - they have - "in fact" put a price tag on all that - of - "at least" - 90 trillion --- in other words - they are not going to dump a few trillion dollars - the trillions they "intend" to DUMP is HUDGE - which in turn means inflation & the devalue of the dollar will also be HUDGE

Reality check here - the "so called" living wage ($15 per hour) wont even come close to covering the inflation of the devalued dollar when they dump 90 trillion dollars to implement their plans/programs --- in fact that $15 per hour will be worth less then the current minimum wage

Again - really - think about it - the "few" trillion they have dumped has already devalued the dollar & increased inflation --- what do you think is going to happen to the value of the dollar & the inflation that goes along with it when they bump 90 trillion --- that $15/hour wage wont pay for your groceries - let alone rent/mortgage & utilities - AND - if you think taxing the rich to pay for all the "free stuff" will work - you are sadly mistaking how it works --- the rich (which are businesses) are going to "pass on" the HIGHER cost of doing business to the consumer causing inflation to increase even more & the value of the dollar to drop like a rock - you won't be able to put enough $100 dollar bills in your wallet to pay for anything

Therefore - I believe - without question - that what happens with this election is HUDGE



> The crash is coming either way.



That "may" be true --- but can you imagine the "crash" if leadership changes (the Dems take control) & DUMP 90 trillion --- I mean really - think about it --- with the inflation & devalued dollar caused by the few trillion already dumped (only 6 trillion so far) what's going to happen if/when the Dems "intend" to dump 90 trillion - the cost (inflation) of ALL commodities will run rampant (including PMs)

Therefore - though I could sell my gold & silver & make fairly good money on it right now - I will wait & see what happens with this election - I am going to NEED it in order to off set the inflation caused by the devalued dollar if/when the Dems DUMP 90 trillion on us to implement there programs

Kurt


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## snoman701 (Jul 25, 2020)

We are in a natural economic state of contraction that always follows growth. We now need investment in infrastructure to get more growth. You can't squeeze blood out of a turnip. Right now we as a country need blood, but we all we have is a blazing dumpster full of rotten turnips. The past four years have gotten us nothing but the most politically polarizing leadership of my lifetime. There are no investments being made anywhere. The whole country is on fire, and people are fighting over whether to put out the fire, or just let it burn. 

Frankly, we need a division of power throughout the house senate and executive branch, and the judicial needs to maintain it's balance so that the country sees progress, while seeing people of differing opinions work together with civility and humilty...two things this current administration completely lacks. That's what we were founded on, and I"ll support the founding philosophy, even with the possibility of the crash being a bit more brutal. The only way this country is going to survive is if we start working together. Leadership can bring us together, but this current administration only stokes the fires of division.


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## FrugalRefiner (Jul 25, 2020)

Gentlemen, you've crossed the line. This has now become a debate on politics, and you know that violates forum rules. If you two wish to continue your debate, take it to PM or some other venue, but do not continue this exchange on the open forum.

Dave


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## metatp (Jul 25, 2020)

snoman701 said:


> Leadership can bring us together, but this current administration only stokes the fires of division.



The fire of division was stoked long before this administration. It is being stoked by almost all in power. That is how they stay in power, including media, big tech, big business and others wanting to maintain power over the masses.


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## galenrog (Jul 25, 2020)

I have to agree with Dave. Please keep all political opinion off the Forum. It contributes to arguments that we would not have otherwise. That distracts from the purpose of the forum. 

Getting back to what I believe is the original premise of this thread. Should I sell my gold?

My opinion is that I should sell my gold when I need to sell. Price points are not as important as paying off
debt and accumulating assets. Whether gold is 1400 or 1900, I will sell if it serves a purpose.

Right now my wife has a particular financial goal. Most new silver goes directly to that when I have enough to realize a decent payday. Everything else is stacked.

Time for more coffee.


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## patnor1011 (Jul 26, 2020)

I would blame "social media" and TV, newspapers. There is not much division in fact. When you go out and talk to people or neighbors most of us usually go along fine. There is always that odd creep but that is nothing new. Politics were always based on dividing people and lately they mastered way on how to weaponize massmedia and antisocial media. To the point of oversaturation with news which are no news anymore but worthless opinion pieces and propaganda. Mostly coming from anonymous keyboard warriors and people with a chip on a shoulder pushing some agenda.

I say people should ignore opinion pieces, facebook, twitter, and TV as a whole and all unrest and division will evaporate fairly quickly. 
Economy and the state of it is different matter. It started coming down crapper when politicians, governments and states started experimenting with socialism again. I have seen it and I know how it ends up since I lived through it but it seems that people really can only learn from their mistakes. So countries which did not tasted it yet, naturally dream about it. They shall get it and reap the fruit of socialism - once they will find out there is none, things may change again.


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## snoman701 (Jul 26, 2020)

The economy is cyclical. You expand, peak, fall back, then contract...rinse and repeat. Politicians can speed it up, slow it down, whatever....but it's going to happen in that order. You can't have constant growth no matter who's at the helm. We are now in a recession. What happens this week in the market is going to determine the next six months or so, since you have earnings releases for the biggest tech stocks on the nasdaq. Gold is a safehaven when investors don't know where else to put their money. Silver is an industrial commodity that tracks well with oil, but also with growth. Copper is shooting up right now on concerns of supply due to COVID 19 and Chilean mine workers strike. The other metals really sorta suck. 

Food is going up not because of inflation (yet) but because of supply chain disruptions and demand. Yesterday there was a snipped on the radio about a beer can shortage. Where people used to drink out of kegs, now they are drinking at home and this has stressed aluminum can production. Some less popular drinks are getting discontinued to use the cans for more popular. We have changed how we eat, and where we get our food from. 

For the most part, for commodities that are traded on the futures market, production costs for food are still low due to low oil prices. Produce is going to go up because of a labor shortage due to lack of agricultural visas. Can't sell it if you can't get it out of the field. 

As for when to sell.



galenrog said:


> Getting back to what I believe is the original premise of this thread. Should I sell my gold?
> 
> My opinion is that I should sell my gold when I need to sell. Price points are not as important as paying off
> debt and accumulating assets. Whether gold is 1400 or 1900, I will sell if it serves a purpose.
> ...



This...exactly. I have a specific financial goal I'm working to get to right now. If I sell my pm's and make it to my goal, it sets me up for more success than what having physical metals on hand ever would. It's a personal decision. Having an ounce of gold on hand for the apocalypse doesn't do you much good if you lose your house waiting for it.


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## kurtak (Jul 26, 2020)

silversaddle1 said:


> Well, will the gold price top it's all time high in the next few days? $1900.00 is my sell point and I think I'm going to stick with it. But then that little voice........ :shock:



Per the underlined - I would listen to that little voice & hold

Why ? --- Because - at least in part what has caused gold/silver to go up is the devalued dollar as a result of the 6 trillion dumped due to the covid thing - with the resurgence of the covid thing there will be another stimulus dumping of another 2 - 3 trillion which means further devalue of the dollar --- therefore I believe over the next 2 -3 months gold is likely (plus/minus) another $200 - & because silver normally lags a bit behind gold I believe silver will likely go up at least another $5 - & potentially another $10

jimdoc posted



> I wouldn't sell it all. Keep some for insurance.



Words of wisdom - in fact as I explained above I am going to hold ALL for at least the next 2 - 3 months --- as always we will see ups & downs but I believe for the next few month we are going to see greater ups then downs 



> with $2,000.00 an ounce for gold $20.00 for an ounce ofsilver very possibly being the new low point on the scale.



I agree - at least in the sorter term (next 6 months to a year) depending on how &/or the time it takes to equalize the current dumping of money



> Gentlemen, you've crossed the line. This has now become a debate on politics, and you know that violates forum rules.



Dave - I agree - I do not care to discuss political views on issues "in general" - though I may have an opinion on issues in general (the wall - racism - etc. etc.) I will hold those views to myself

However - that said - I do care what happens to "my money"

I have a FAIR amount of "my money" invested in gold & silver

Discussion of gold & silver is in fact the purpose of this forum - & that includes the discussion of where the value of gold & silver may - or not go - as we all have a vested interest in what may or not happen with the price of gold & silver

The price of gold & silver has a "direct" relationship to the value of the dollar

The value of the dollar has a "direct" relationship to what our national debt is

When the Fed "dumps" trillions (they "borrow" that money through the federal reserve - which are privet owned banks) the national debt goes up - the value of the dollar goes down - causing the price of ALL commodities to go up (inflation)

We are "currently" watching exactly that take place with the current dumping of "about" 6 trillion & they plan to dump another 2 - 3 trillion --- commodities - including gold & silver WILL go up --- that is economics 101 

Gold is currently at $1,900/ozt - that is in part due to the (de)value of the dollar - which in part is due to the current national debt - which is currently at "about" 26 trillion

Now then - I don't care one bit which party DUMPS the money that devalues our dollar - thereby causing the price of commodities to "inflate" --- what I do care about - is how much one party - or the other - "intends" to DUMP - causing the above effect

The simple FACT of the matter is - it just happens that it is the DEMs that are "openly" saying they intend to dump a HUDGE amount of money into our national debt --- in other words - I would feel the same if it was Republicans talking about dumping 90 trillion --- in other words my view is NOT Republican VS Democrat - it is money VS money & how one money compared to the other money is going to effect my bottom line

This is what I "know" --- gold is currently at $1,900/ozt --- our national debt is currently 26 trillion

Therefore - considering "basic" economics 101 - if they were even talking about simple doubling the national debt - you can expect the price of gold (along with ALL other commodities) to "at least" double

That means the value of my dollar - will DE- value by "at least" double - I will need "at least" twice the money to buy the same thing

But they are not simply talking about doubling our national debt (another 26 trillion) they are talking about DUMPING another 90 trillion PLUS - that is close to 4 time MORE our current debt

If you don't think that will devalue our dollar & inflate the price of commodities by AT LEAST 4 time - Then I just don't really know what to say - other then common sense tells me our economy will go into such a "free fall" that I will not be able to put enough $100 bills in my wallet to pay for anything

Therefore - depending on the outcome of the up coming election - I am holding on to my gold & silver - it is the one thing I have - that may at least off set the potential free fall we could see - IF - leadership changes in this next election

So my view is what may happen with the money rather then the politic "in & of them selves" - but - it also just so happens - that what happens with the money will be determined by politics - which in turn be determined by this coming election

So I will hold my gold/silver till then because gold could go 4 times higher then the current price - but I will need EVERY penny of that to off set the inflation of the devalued dollar 

Kurt


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## Lino1406 (Jul 26, 2020)

The attached illustration was posted by me a while ago. The "world money" was under-estimated at $75 trillions, more correctly at that time - $125 trillions. Now, with the current printing, you may assume safely, $200 trillions. Hence the "reasonable" price for gold ounce = $10000 (env.)


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## snoman701 (Jul 26, 2020)

Lino1406 said:


> The attached illustration was posted by me a while ago. The "world money" was under-estimated at $75 trillions, more correctly at that time - $125 trillions. Now, with the current printing, you may assume safely, $200 trillions. Hence the "reasonable" price for gold ounce = $10000 (env.)



That's just it, people don't get that this isn't a local to your government issue. 

Where we stand in relation to the world markets, is political...how we prepare ourselves to be competitive while providing basic services to our populace, that's political...but the inflation of valuation of currency and equities, is the same across the board throughout the world. 

I consistently have to remind myself on commodities that what happens in the US is just a fraction of the picture.


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## niks neims (Jul 26, 2020)

Lino1406 said:


> The attached illustration was posted by me a while ago. The "world money" was under-estimated at $75 trillions, more correctly at that time - $125 trillions. Now, with the current printing, you may assume safely, $200 trillions. Hence the "reasonable" price for gold ounce = $10000 (env.)



The nose knows )) !

Actually great post, my view on the undervaluation of gold exactly!


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## nickvc (Jul 27, 2020)

I nearly posted yesterday regarding Dave’s comment.
The discussion of future precious metal prices I’m afraid will always have to be viewed with an eye to political goals now and in the future, this is where I feel sorry for the mods as the rules state no political discussion but how can we discuss prices without an eye to what the politicians and governments are doing.
Perhaps if the op only states provable facts without his or her spin or views that should be allowed so long as it contributes to the discussion as to what’s happening to prices, if we start discussing the merits or downfalls of any party, politician or government then no that should be stopped, we all have personal views on politics but here is not the place to air them.


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## snoman701 (Jul 27, 2020)

kurtak said:


> So yes with just a few trillion being dumped into the economy - we are already seeing an increase in inflation due to devalue of the dollar - which in turn is causing the price/cost of commodities - including PMs to go up



I was curious last night when I was checking the Asian markets to see what today was going to be like. 

Commodity futures prices on staples are all down from January. Pork, Beef, soybeans, corn, wheat, etc. 

Everything you are seeing increases in, are increases due to processing infrastructure and good ole profiteering. 

Yes, the meat is up in the grocery store. Bread is up. My chocolate bars are up.

But the producer is making less. With true inflation, you'd see the market cost go up as well. 

Even the USD index. We aren't that much lower than where we started the year...in fact, if we hadn't bumbled up our coronavirus response, we'd probably be higher. (it's literally been the last two weeks that it's started to dip)


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## kurtak (Jul 28, 2020)

snoman701 said:


> I was curious last night when I was checking the Asian markets to see what today was going to be like.
> 
> Commodity futures prices on staples are all down from January. Pork, Beef, soybeans, corn, wheat, etc.
> 
> ...



Snow

It's not like the day they "dump" the money it effects ALL parts of the market "all at once"

But what we know FOR A FACT - is that when they "dump" LARGE amounts - the value of the dollars "goes down" & when the value of the dollar goes down & it has less buying power (it takes more money to buy stuff) which results in inflation 

The who, how, where, & why the market(s) react to the devalued dollar (due to money "dumping) depends on where (in the market) the inflation "starts" --- sooner or later though - the inflation takes effect across the board - as money (now devalued) gets shifted around in the market

In other words - things still go up & down - but (for the most part) the new lows stay above the old highs

That is why when I first started refining 13 years ago gold was around $500 - $600 ozt. 

When the economy crashed in 2008 gold took off & went to a high of "around $1,800

That was the result of "stimulus" money dumping (mostly in the form of "bail out" money)

Once the market started to correct it's self gold did not go back to the "old" low - the "new" low became $1,100 - $1,200 --- because of inflation (& a devalued dollar)

And along with that - the buying power of my money did not go back to it's buying power before 2008 

Did it "somewhat" adjust ? - yes ' - but my dollar will not buy what it did before 2008 - due to inflation - as a result of money dumping after the 2008 crash

I don't have time to post more today because we are starting work an hour early to beat the heat so will Try to pick up on this tomorrow morning

With that said - you also posted ----------



> .in fact, if we hadn't bumbled up our coronavirus response,



That is moving out side the box of (political) money & how it may - or not - effect the price of PMs & moving into "other" things political --- therefore - though I have an opinion on that I will not comment - & I ask that you try to avoid making comments that open the door to "other" political issues 

Kurt


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## kurtak (Jul 28, 2020)

kurtak said:


> With that said - you also posted ----------
> 
> 
> 
> ...



That is - unless you can put it in the context of how the stimulus money has/may - or not - be effecting the price of PMs

Kurt


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## silversaddle1 (Jul 28, 2020)

Heading for $2000.00 today!


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## metatp (Jul 28, 2020)

Great post Kurt.


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## snoman701 (Jul 28, 2020)

kurtak said:


> > .in fact, if we hadn't bumbled up our coronavirus response,
> 
> 
> 
> ...


My statements following Dave's reprimand have been quite objective and data driven. 

My statement was very clearly stated as a relation to the USD index. If anything, my statement SUPPORTED your statements of excessive spending speeding inflation. 

You keep wanting to open the political door. 

I'm data driven. 

If you want to have a discussion about science and politics of control, lets start at the beginning. I think the origins of modern science and the papacy would suffice? 

But holy crap, quit trying to make this about politics. 



silversaddle1 said:


> Heading for $2000.00 today!



It's still bullish, but if it doesn't take 2-3 days to hit $2,000, I think it will have a hard correction. Last nights correction in the Hong Kong markets slowed momentum down a lot....which is good. When RSI gets above 70 on the 1 hour chart it's really hard for it to even back off without a hard correction. Just too much excitement. That excitement breeds fear. And you get what silver had last night. A $3/oz correction in 30 minutes in the futures market.

What is driving this run is guys sitting behind computers. For just $9,900 you can buy a 10,000 oz silver or a 100 oz gold futures contract on margin. Every half cent in price action on silver is worth $25...every dime on gold is worth $10. I do it on occasion...for a guy with a net worth under 100 grand it's pretty high stakes gambling. 

It's happening for a lot of reasons, but the most recent straw added to the ailing camel was Nasdaq's correction last week. For the longest time, QQQ was a safe index fund to continue to grow your account because tech was doing great (overbought like crazy, but doing great). Now, people are worried that tech is no longer the place to hold your money, so they are looking for something that weathers corrections well. That's gold. 

For the life of me, I don't understand silvers current run up. It usually follows golds bull run because it's value is so dependent on industrial use, so it waits for economic recovery. But there are a lot of retail traders that clearly don't know the rules (hedge fund managers are crying like crazy right now because the markets aren't predictable, the same as they weren't in 2008).


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## rickbb (Jul 28, 2020)

guess it's time to polish up that little 1 ozt bar and take some pics tonight.  8) :G


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## kurtak (Jul 29, 2020)

> in fact, if we hadn't bumbled up our coronavirus response



It is entirely possible I misunderstood that comment - that being the case - I am truly sorry :!:

I kind of realized that after my first post --- which is why I also posted



> That is - unless you can put it in the context of how the stimulus money has/may - or not - be effecting the price of PMs



No time to post more today

Spent ALL day on my knees tying rebar for a foundation on a new home build - 100 plus temps --- even the "young" guys on the crew are struggling with the heat :lol: 

Kurt


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## snoman701 (Jul 29, 2020)

kurtak said:


> Spent ALL day on my knees tying rebar for a foundation on a new home build - 100 plus temps --- even the "young" guys on the crew are struggling with the heat :lol:



I remember three types of days doing mobile ironwork. 100 plus days where i bought my bottled water in gallons, days so cold your fingers cracked and days where you drug your hoses and leads through mud so sticky they weighed four times as much by the time you spooled them back up.

And those days the framing carpenters were NEVER working. The only ones that worked were the plumbers, concrete guys and ironworkers.

on edit, added "framing"


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## rickbb (Jul 29, 2020)

snoman701 said:


> kurtak said:
> 
> 
> > Spent ALL day on my knees tying rebar for a foundation on a new home build - 100 plus temps --- even the "young" guys on the crew are struggling with the heat :lol:
> ...




Which is why I gave up on outside work and now spend my days in front of computers. Tried all those professions when I was young and working my way through school. 8)


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## Jmk88 (Aug 12, 2020)

The correction is complete I believe.

48£ a gram will be the new support level for the future I don’t think you’re going to see an opportunity to buy much less than current ever again.

Once the correction is complete I believe by January 2021 we are looking at a price of 60£ a gram for sure.


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## snoman701 (Aug 12, 2020)

I think it's over, but there is nothing to keep it from happening again. 

The selloffs have been happening in the Asian markets. 

However yesterdays began in ours. Yesterdays selloff was precipitated by stagnation in the stimulus talks. We were doing good, McConnel spoke, then the entire market started selling off ten minutes after....dragging down ETF's with it. 

That is the volatility. Everything is set to a hair trigger right now. 

Silver moved from 24 to 26 in two hours last night. Then back to 25 in an hour. 

Just now silver was moving so up fast that I can't even get a limit order in. I fully expect it will come back down at greater speed.


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## rickbb (Aug 12, 2020)

It keeps bouncing back and forth around my sell point so fast I can't get it posted for sale. 

Maybe I'll just wait as see.


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## Lino1406 (Aug 12, 2020)

Some notes: 1. There is nothing saint about $2000 price label 2. The absence of gold standard negates any institutional will to reduce price, so possibly big producers find the time appropriate for selling - or speculators join forces and manipulate ups and downs - but the trend is up 3.Also from gold standard absence reason, the fear from gold confiscation is ridiculous.


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## Jmk88 (Aug 12, 2020)

I think Lino is spot on; this is a major correction and is just the market manipulators setting a higher price....

These people are 15 steps ahead of us at the very best.... 100 at the worst.

A gram of gold will soon be unaffordable on a working mans wage... and will be for some time until the fed stop their criminal practice. They are doing exactly what Germany did between 1935-1939.

No one is talking about the fact that U.K. inflation is at 6% also. Much higher than 6% and you start to face a big big problem. The US dollar is not king at all... gold is first and the pound is the king of fiat. When the pound falls... the world economy stops. Fact.

I don’t mean this to be obtuse or arrogant... but the fed is run by the city of London.

The recent correction is mainly due to non physical pm transactions as opposed to people like ourselves... it’s oxford and Cambridge boys sitting watching their algorithms. Not actual trading of physical gold my normal people.


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## Lino1406 (Oct 30, 2020)

"You are going to have so much liquidity in markets that gold has to go higher," 

"For next year, global liquidity could push to as high as $195 trillion."

"These are, these are big numbers. This is more than twice world GDP," 

Michael Howell 
CrossBorder Capitale
October 29 2020
This means liquidity does not have enough merchandise for buying - draw your conclusions


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