patrick.net

EBGuy says

The dealer has reporting requirements for cash transactions over $10k. There is a pretty nuanced list of scenarios at:
https://www.pacificpreciousmetals.com/reporting-requirements-buying
Note: The dealer will not consider a cashiers check over $10k to be CASH (doesn't have to report), but the bank will have to report.
https://www.irs.gov/pub/irs-pdf/p1544.pdf

Here is the size of transactions that trigger a 1099-B being issued by the dealer when selling your precious metals to them.

My guy won't accept cashiers checks. And he's out of state, so no cash. Has to be personal check, or bank wire only. I think he does that to get around some of the reporting you mentioned.

I wouldn't worry about your coin dealer anymore than your gun dealer. Your bank is the one most likely to sell you out.

Rather hold 1 ounce silver eagles

They seem to have more liquidity than gold coins

"GOLD WORKS IN ZIMBABWE, WHY NOT HERE? Plagued by hyperinflation, on 8 May 2023 the Reserve Bank of Zimbabwe (RZ) announced it will start selling gold-backed digital tokens with minimum price of US$10 and denominated in milligrams of gold. These tokens will be convertible though the banking system into physical gold coins. Of course, the International Monetary Fund advised Zimbabwe against this move. Sounds to me as if the IMF is going to hell itself and doesn't want to see anyone else saved."

- Franklin Sanders

https://www.pindula.co.zw/2023/05/08/buying-rbzs-gold-backed-digital-tokens-here-is-what-you-need-to-know/
https://www.pindula.co.zw/2023/05/09/imf-advised-zimbabwe-against-adopting-gold-backed-digital-currency-for-economic-stability/

Would anybody trust any currency Zimbabwe makes?????

Sure they have the gold...you can trust 'em this time.

Misc says

Would anybody trust any currency Zimbabwe makes?????

Sure they have the gold...you can trust 'em this time.

As long as you can convert it, you should.

Did you know in the 1920's, there was a propaganda campaign that encouraged people to move to using dollar bills instead of gold coins? Only "hicks" used gold coins. Government always steers you in the wrong direction.

If you live in Zimbabwe, convert to gold, always.

It's that time again - GOLD GETTING KILLED!

Just the latest of many, many articles I've seen about central banks buying gold. Now if you know a currency is about to collapse, and the new one isn't out yet, and you don't want to get screwed on the conversion...

https://www.zerohedge.com/markets/central-banks-are-buying-gold-record-pace-what-does-mean-inflation

It goes up. It goes down.

South Korea rolling out gold vending machines..

https://zerohedge.com/commodities/gold-bar-vending-machines-rolled-out-south-korean-convenience-stores

Central banks continue buying gold...
https://zerohedge.com/geopolitical/eight-central-banks-increased-gold-holdings-may

"RECORD HIGH GOLD PRICE. The World Gold Council reports that during 12-2023 the LBMA afternoon gold price averaged US$1,976 per ounce, a record high. According to the CME Group “Central banks bought a staggering $70 billion of gold, the most since 1950.”

- Franklin Sanders

Looks to me like central banks are planning for a monetary change, and regardless of how things go, they want to keep their position. If CBDC's go bust, having physical gold in their vaults will keep them in control. Assuming they can hold those vaults when the mob comes...

NuttBoxer says

Assuming they can hold those vaults when the mob comes...

The vaults are empty. They aren't stupid. The gold was pilfered decades ago.

If you read any of the above links, that information is no longer accurate, likely for the reason I stated.

The people trying to run the world keep buying gold...
https://www.zerohedge.com/markets/central-bank-gold-buying-continued-hot-july

If even the insiders refuse just cash, what does that tell you?

https://twitter.com/townhallcom/status/1706857025857261605
https://apnews.com/article/senator-menendez-indicted-729db45fcf21c42ba707c9d0139349e9

Shit - gold under $1850. I guess globohomo is doubling down to see who blinks first.

stereotomy says

Shit - gold under $1850. I guess globohomo is doubling down to see who blinks first.

iShares Silver Trust peaked around $47 in 2011. Now it is around $20. Silver and gold are Rigged Rigged. The central bankers do not want to see it becoming a threat to other asset classes like real property and stocks. They already are putting a squeeze on major crypto like bitcoin, etc.

Look at Amazon. Its at $127. Only about 20% above its February 2020 levels, yet overall inflation since then has been about 25%

S&P 500 only up 26% since February 2020 so it has a real return of nearly 0% since then :-/

So Powell and the Fed have cooled down stocks, ETFs, crypto, silver and gold . Dollar Index (DXY) is still relatively strong.

.

stereotomy says

Shit - gold under $1850. I guess globohomo is doubling down to see who blinks first.

Not sure where you pulled that number from but nobody is selling gold for that price. Remember the market is highly manipulated, and you will never be able to buy for spot until the old economy is dead and buried.

Fucking Costco selling gold bars now, and selling out..

https://www.zerohedge.com/markets/costco-gold-indicator

CCCP_trollbot says

You are better off putting your money in the S&P 500

Graph the yearly average of the S&P in terms of the average price of gold from 1900 to now.

NuttBoxer says

Not sure where you pulled that number from but nobody is selling gold

Silver Eagles and coins sell for about 10% to 15% above spot price for silver.

So spot silver around $20 then Silver Eagles (1 ounce) sell for around $22 to $23 generally.

I rather own 1 ounce silver coins and 1/10 ounce gold coins. Easier to use as far as liquidity then trying to use a 1 ounce gold coin, in case the dollar collapses.

However if the dollar collapses, I am not sure silver and gold will be valued as people will only want to trade in food, water, medical supplies, shelter, gasoline, and bullets.

.

ad says

However if the dollar collapses, I am not sure silver and gold will be valued as people will only want to trade in food, water, medical supplies, shelter, gasoline, and bullets.

And Tobacco! @patrick, this video reminded me of your grow operation: https://www.youtube.com/watch?v=O2vObnwMWho

He doesn't use it himself apparently but grows it because he can barter with it if SHTF.

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

The Germans used cigarettes as currency for a few years after WWII, because reichsmarks became worthless.

Patrick says

Pretty sure it's illegal to use tobacco for barter

You may have a different opinion after they put you in prison.

CCCP_trollbot says

Lol, from 1900?? Who da f cares what happened between 1900 and 2000?

Or don't. I don't care. There's certain people I only tell once. I led you to water in this regard. Bye

ad says

However if the dollar collapses, I am not sure silver and gold will be valued as people will only want to trade in food, water, medical supplies, shelter, gasoline, and bullets.

I already have all that stuff, so I'll take it for sure. I'm past survival, already thinking about how to thrive in the new economy.

ad says

However if the dollar collapses,

When the dollar collapses, it’s almost certain it is because the government collapsed. I don’t see a scenario where we create Weimar Republic style hyperventilation. Most of our debt is owed to Americans not foreigners. There is no reason to hyperinflate, so the concern is basically ludicrous. Now on the other hand it does seem we are on the brink of government collapse due to years of corruption, lies and weakness.

CCCP_trollbot says

Just what are you guys smoking. This is the strongest economy in the world. Do you think europe or China is doing better than us?

China is doing better than the United States, even Russia is.

What does the US produce? If an alien species sucked up this entire nation and threw it into the sun, what would the world lose? What does the US make the world needs? War? What? Need a better iPhone or something? Another useless update to Windows which is now a subscription service?

I don't know why Americans think the United States is even useful in the world.

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.

CCCP_trollbot says

I’d give you some credibility Richwicks if you would immigrate to China or Russia.

I might immigrate to Russia. The language is hard, but it's doable. Mandarin, that's very difficult. There's barriers to leaving.

CCCP_trollbot says

But no, you pay your taxes here and complain about how horrible the US is.

If I move to another nation I give up my ability to try to change the nation, since I moved to it. Don't you realize this?

CCCP_trollbot says

If it were so bad in the US you would have left, but no, you will stay here until your last breath (and bitch and complain).

Oh no, it's bad in the US certainly. I'm just tired of people thinking it can't be improved and settle for a senile old fuck with a crackhead son using his own kid to accept bribes, and you thinking this is the "best nation in the world". HAHAHA. You'll defend whatever these mother fuckers do, sell your kids and grandkids into slavery and thinking "we're the leader of the free world".

Ugh, the propaganda techniques of the USSR and NAZI Germany, it's hilarious it works on you so easily. You aren't human. I have held onto the idea that you could be educated, you're only useful to be exploited. I completely understand the contempt of a career criminal like Biden to take advantage of you. I understand their disgust.

CCCP_trollbot says

“I might immigrate to Russia.”

Dude, you are sooo full of shite. There is no fucking way in hell you do that. I am willing to bet on it. How much?

My cousin abandoned this country for Argentina, another for Canada although she didn't realize she was jumping from the pan into the fire. My grandfather abandoned Poland.

I kind of want to stay here to see this place burn. I'm in Silicon Valley, I'm starting to see the shit show now, been going on for months. 5 hotels have been built within walking distance from me, they are all empty.

I know people that have abandoned the United States for UKRAINE. I hope he's alive, seriously, I've not heard from him in years. I warned him the US overthrew that country and was trying to provoke a war with Russia - he thought I was crazy. What can you do?

I regard this country as reformable still, perhaps that's my delusion.



"We're the leaders of the free world", right? Who else in the entire world has such a scumbag as a kid? Apple doesn't fall that far from the tree after all. HAHA.

I just have to laugh as Americans take it up the ass, and choke down the cock. We obviously didn't elect this asshole. We have 24/7 propaganda, that maybe 40% of the population believes. It really is hilarious, IF you can appreciate clown world. I go in and out of it. It's funny, and then it's despair. What I can see, anybody can see, but only a minority bother to see it.

@CCCP_trollbot The rule here is that you cannot personally insult the other users.

Please stick to the point, and leave the person alone.

If you don't like someone, just don't engage, or better yet, put him on ignore.

Patrick says

CCCP_trollbot The rule here is that you cannot personally insult the other users.

Please stick to the point, and leave the person alone.

If you don't like someone, just don't engage, or better yet, put him on ignore.

I think you are incorrect here. I don't see where he's personally insulted me. I think you've made an error.

"If it were so bad in the US you would have left, but no, you will stay here until your last breath (and bitch and complain)."

That's definitely a personal insult, not about anything but the person.

PeopleUnited says

Most of our debt is owed to Americans not foreigners. There is no reason to hyperinflate, so the concern is basically ludicrous.

Yeah from what I've read such as on Statista about 22% of total US federal debt is owned by foreigners.

Its all about debt service and solvency. How much can it be sustained in regards to tax receipts and expenditures, or cash flow.

If debt service is problematic then I think they'll raises taxes. They also may cut back on Social Security payments for those in the upper tax brackets.

/

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.