patrick.net

HunterTits says

You seem to confuse SAVING with INVESTING.

One does not SAVE in the stock market.

Agreed. I got carried away with that topic. Maybe I saved some savings in bullion also.

But this does not change the reality that for about forty years, the gold saver could not spend his savings without having another illegal partner in crime in the transaction.

B.A.C.A.H. says

The Gold Hoarder could not spend his hoarded gold in the US without breaking the law, - meaning that whomever he sold it to was also breaking the law. This sounds like the risks of selling any contraband like unregistered firearms, illegal drugs, or whatever. He could admire his shiny gold coin but do little else with it.

Actually, according to the Constitution, only gold and silver have ever constituted legal money. Even the Federal Reserve admits this directly on their notes, that the paper represents debt. Real money never represents an obligation to repay.

The act did not make gold and silver illegal, it just removed the redemption requirement for Federal Reserve paper. As a point-in-fact, junk silver was still issued by the US Treasury through the 50's.

The central bank game has never been to directly attack gold and silver as money, because it would never work. Instead, they write laws to force the acceptance of their bad money, and once people realize that can pay something with worthless paper, rather than real money, the money quickly disappears from circulation.

And I haven't even addressed black/free markets, and easy it has always been to circumvent the law, especially the ridiculous ones.

Patrick says

Gold does that. It's not an investment, does not grow in value.

Yes, gold is not bitcoin. That is why it has served as currency since the beginning of time. It is also not stocks, central bank debt notes, mortgages, or any of the endless pieces of paper central banks use to steal from us through their greatest asset, inflation. And there's the rub. You see, if you support fiat assets to gain "wealth", you have to support screwing somebody. If you support gold and silver, you can make your wealth with a clear conscious, knowing no widows or orphans were put out in the street so you could have that addition on your home.

NuttBoxer says

Actually, according to the Constitution, only gold and silver have ever constituted legal money. Even the Federal Reserve admits this directly on their notes, that the paper represents debt. Real money never represents an obligation to repay.

If you say so. What ever. I wonder if they cited those lines in the Constitution to the agent of the IRS:

By Executive Order Of The President of The United States, March 9, 1933.

By virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, in which Congress declared that a serious emergency exists, I as President, do declare that the national emergency still exists; that the continued private hoarding of gold and silver by subjects of the United States poses a grave threat to the peace, equal justice, and well-being of the United States; and that appropriate measures must be taken immediately to protect the interests of our people.
Therefore, pursuant to the above authority, I hereby proclaim that such gold and silver holdings are prohibited, and that all such coin, bullion or other possessions of gold and silver be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government.
All safe deposit boxes in banks or financial institutions have been sealed, pending action in the due course of the law. All sales or purchases or movements of such gold and silver within the borders of the United States and its territories and all foreign exchange transactions or movements of such metals across the border are hereby prohibited.
Your possession of these proscribed metals and/or your maintenance of a safe deposit box to store them is known by the government from bank and insurance records. Therefore, be advised that your vault box must remain sealed, and may only be opened in the presence of an agent of the Internal Revenue Service.
By lawful order given this day, the President of the United States.
Franklin Roosevelt – March 9, 1933

(yes, I know, they continued issuing coinage in what you called "junk" silver).

Like President Jackson said about the Supreme Court ruling on a Constitutional issue back in the day, "John Marshall has made his decision; now let him enforce it."

https://finance.yahoo.com/news/half-lumber-dealers-now-sit-202239107.html

Half of Lumber Dealers Now Sit on Excess Inventory in the U.S.

NuttBoxer says

Patrick says

Gold does that. It's not an investment, does not grow in value.

Yes, gold is not bitcoin

so true. falling asleep looking at the performance of gold over 20years.

Real Estate, Stocks and Crypto is investing. Putting money in gold is a boring gamble. You might find yourself holding it for a decade below a price you paid.

richwicks says

Misc says

There is no savior in gold. The gold simply doesn't exist and if you have any, it will simply be confiscated because it's been outlawed.

People accumulating gold would dump it in the Mariana's trench rather than give it to the criminals that caused the economic collapse.

This isn't the 1930's any more when people had a high level of trust in the government. In fact, prior to the outlawing of gold in 1933, many people sent it over-seas. This is why gold coins from the late 1920's are in pristine condition. They were never circulated.

Bullionvault.com

FYI - any purchase and sale transactions fall under FATCA if you store your bullion outside the US. But at least they can't seize it if it's just sitting there. Things get more complicated if you try to access funds from any bank account other than the one you used to buy bullion (thanks AML "laws").

B.A.C.A.H. says

I as President, do declare that the national emergency still exists;

SUBMIT!

Patrick says

They've already sold the country to China by outsourcing almost all US manufacturing to them.

But yes, selling our farmland makes it worse. At least we can take it back easily.

yes....selling farmland to real americans who have our interests at heart, like bill gates, and to the saudi's, is a much better option than selling it to chinese investors.

SumatraBosch says

There is no reason a 3/2 in Vallejo shouldn't be valued at $500 million if it has a driveway.

An asphalt or concrete driveway?

NuttBoxer says

A farmer isn't going to be trading you food for gold either, but since farmers on average are in debt about $1 million, they will trade for dollars.

You mean the ones that signed contracts with big corporations and got fucked?

joshuatrio says

At some point, people can't keep up with the rising prices and quit buying. Wouldn't that naturally lead to deflation?

You mean people will stop buying massive amounts of food and actually start losing some weight?

joshuatrio says

At some point, people can't keep up with the rising prices and quit buying. Wouldn't that naturally lead to deflation? I know the fed can print indefinitely, but if people refuse to spend, I think we'd still have a downward slope in prices.

People will keeps spending every penny they have and have their CC's maxed out too...even if its for less products...Corps don't need to sell more products to make money. They can just cut costs...sell bonds or borrow cheap money and do stock buybacks...makes the management and stockholders richer...everyone is happy except the poor schmucks who got fired.

komputodo says

real americans who have our interests at heart, like bill gates,

Microsoft Bill? The one that wants to reduce the world's population? That Bill Gates?

Onvacation says

komputodo says

real americans who have our interests at heart, like bill gates,

Microsoft Bill? The one that wants to reduce the world's population? That Bill Gates?

Yeah, that patriot who has our best interests at heart.

https://spectatorworld.com/topic/google-war-home-workers-inevitable/

Google is cutting salaries of people who work from home, which sounds deflationary to me.

Google, the company that quietly dropped ‘don’t be evil’ from is corporate goals — possibly because it thought it might be just a trifle misleading — has suggested that some of those who opt to work from home could have their pay cut. According to reports from the United States, salaries might be docked depending on where you live and choose to work. And, in truth, there is not much anyone can do about it.