patrick.net

richwicks says

The metrics for a "good economy" that the US defines, the United States defines, is GDP, which is just monetary churn. If a drone plane cost a billion dollars to make and sell, that's better than an ENTIRELY EQUIVALENT drone made in China for $100.

GDP is just another form of propaganda. It's not an actual measurement.

Very true as RFK stated this when he was running for President. GDP is just one way to examine debt such as debt to GDP ratio. A better way is debt payment as a percentage of total federal budget.

Also GDP is helpful as far as tracking defense spending:
https://www.statista.com/statistics/217581/outlays-for-defense-and-forecast-in-the-us-as-a-percentage-of-the-gdp/

But I like to examine quality of life or standard of living metrics as far as measuring the socieoeconomic progress. Percentage that own a home, percentage that are college educated, average life span, household debt versus annual income, household savings rate, median household savings, crime rate, number of libraries and museums, etc
.

richwicks says

My cousin abandoned this country for Argentina,

Argentina has been in economic doldrums for at least 20 years

ad says

richwicks says

My cousin abandoned this country for Argentina,

Argentina has been in economic doldrums for at least 20 years

Yes, I know. It's advantageous to go to 3rd world nations when when you have a 1st world income. He's basically retired.

Patrick says

Pretty sure it's illegal to use tobacco for barter, but then if SHTF the ATF is not going to be in business either.

I'm going to add some seeds to my SHTF stash. Also grow some for fun; seeing yours motivated me.

Well, now that WWIII can break out along two separate fronts, I guess gold is getting some more love.

It's a safe haven, will always go up in a crises. And those just seem to be increasing daily.

^^^
True that - gold bouncing between 1920-1950.

I think I can, I think I can . . . Choo Choo!

Gold buying by central banks is 800 tons for the year.
https://finance.yahoo.com/news/central-bank-gold-binge-even-060000811.html

NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!

With what did they buy this gold with?

Oh, the paper currency they issued.

That would be an anathema to the institution of central banking. More likely their hedging their bets if the digital slave currency doesn't take right away, as another means to force it's adoption. Back it with gold, then pull the rug out. Also possible they're so arrogant they think that will help them weather the storm of a collapse. It won't...

Still buying, highest purchase rate is in Q3 of this year. Regardless of their reasons, one more indicator the economy is headed for a bad place:

https://www.zerohedge.com/markets/central-bank-gold-buying-continued-unabated-september

HeadSet says

NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!

That's not the case in the slightest. The central banks are privately owned conglomerates that are also the biggest con artists in history. They know what is coming; a collapse of fiat currencies, so they are converting their soon to be worthless paper into hard assets, such as gold.

RayAmerica says

they are converting their soon to be worthless paper into hard assets, such as gold.

collapse of paper is collapse of society and the same powers-to-be do not want a collapse of society

they may let society's poor and working class suffer some, such as with inflation, but they want to maintain control even with society's standard of living degrading closer to 3rd world conditions

gold and silver are a good hedge as far as devaluation of currency unless there are competitors like crypto ... I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

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RayAmerica says

HeadSet says

NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!

That's not the case in the slightest. The central banks are privately owned conglomerates that are also the biggest con artists in history. They know what is coming; a collapse of fiat currencies, so they are converting their soon to be worthless paper into hard assets, such as gold.

That quip "Cool! Looks like they are transitioning to a gold back currency!" was a joke, The last thing a central bank wants is an asset backed currency, as that would strip the central bank of its power.

Ahh, the subtleties of online speech..

Can't believe Gold hasn't gone way higher.

ad says

.. I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

Agreed! But they're not making any more bitcoin. Gold and silver can just be dug out of the ground.

Off to the races . .

Holy shit!

Someone(s) are thinking the printing presses are soon to be fired up again.

December's usually pretty dead for serious movement. Stocks do well so CEO's can get their bonus's early next year.

Those central bankers won't stop hedging...

https://www.zerohedge.com/markets/summer-central-bank-gold-buying-extends-fall

Chinese know what American's will learn the hard way. Never trust your governments paper currency...
https://asia.nikkei.com/Business/Markets/Commodities/Chinese-pay-premium-prices-for-gold-as-economic-outlook-dims

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1 kilo of gold is worth about $66,000



.

Texas latest state moving back to real money:

https://www.zerohedge.com/markets/texas-gop-moves-support-gold

Tons of the stuff is being bought and physically transferred to Shanghai. The world' largest gold exchange is there.

Fed Chair Powell is my hero - all that bullshit is great for gold. Pretty soon we'll have gold at $2500, gas at $10/gallon, and $15 for a gallon of milk.

AD says

... I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

One reason to wonder if Bitcoin is some kind of Gov Op.

stereotomy says

gas at $10/gallon, and $15 for a gallon of milk.

Really? We pay for those things in gold?

NuttBoxer says

Texas latest state moving back to real money:

https://www.zerohedge.com/markets/texas-gop-moves-support-gold

Did you read the article? First paragraph states the proposition is not legally binding.

UkraineIsTotallyFucked says

Did you read the article? First paragraph states the proposition is not legally binding.

Most of what Zerohedge is "misleading" at best. I long ago abandoned the site since 90% of it is just garbage. Used to piss me off when they'd post a chart with NOTHING labeling the X or Y axis and the "article" was "this chart needs no explanation" and nobody could tell me what it was.

Some have speculated it was created by the NSA who released an interesting study on digital coin sometime before bitcoin was created. No solid proof, but an interesting theory..

Long Term Trends in Precious Metals
Gold, Up and up and up compared to fiat. Notice the flatline before 1971. Also notice the little bump at the beginning of the chart, that's when FDR federalized gold and made it illegal to own. The late 1970's runup coincided with the Hunt Bro's silver fiasco.


Now silver. Notice the little bump up in the mid 1960's when we took silver completely out of our coinage. (Anyone know what "40% silver" coins are?) Then the big peak in 1980 when the Hunt Brothers tried to "corner the market", "https://www.washingtonpost.com/archive/business/1980/04/27/hunt-brothers-thrill-ride-in-silver-takes-us-close-to-disaster/505507ce-a75b-407b-a407-0ed12cb35a5a/
before the SEC, CFTC, and the Fed shut them down. Also notice the "Iwog peak" in 2011 where a couple of market timers cashed out at just the right time. IMO silver has nowhere to go but up.

Mark Dice Trying To Trade 1 oz Gold Coin (worth $1800 at the time of the video) for Worthless Random Stuff

https://www.youtube.com/watch?v=D_x8VswuLwU

Onvacation says

FDR federalized gold and made it illegal to own.

That's an exaggeration, was never illegal.

Onvacation says

Now silver.

Not sure there's data, but would rather see this go back to the 1870's when silver standard was removed. Everything else significant in our financial history is pinned to this one moment.

NuttBoxer says

That's an exaggeration, was never illegal.

Yes it was. An individual could have up to 5 ounces of gold bullion meaning coins and bars, anything beyond that was illegal.

People could have gold in the form of jewelry and several things were done to attain that.

It was a voluntary turn in, not mandatory confiscation. Feel free to provide a citation proving otherwise, but Griffin and Sanders both disagree with you. And their collective knowledge on this subject is more than we'll ever forget.