Posted on 02/01/2016 3:14:38 PM PST by blam
I just did. Bought 20oz of silver and 20oz of copper.
It's sad, prices are skyrocketing making it tough to buy stuff, and we have a jerk president who says the economy is booming and there is no inflation. Food costs are jumping like crazy, people can barely afford housing, and taxes are going up. You're right, people aren't able to buy nice things, and it's getting worse. Over four decades ago I was buying 24 cent burgers, 17 cent french fries, and 19 cent milk shakes. And it was affordable on minimum wages. We're approaching $10 burgers. If gold goes to $8000, then what will a burger cost you? Nothing, because you won't be able to afford it.
It might try that, but most of the people are a great deal less trusting of the government and its intentions than in the 30s.
More likely would be that the feds would make any kind of transactions with gold/silver to be illegal in an attempt to make PMs worthless in a practical sense. Which I don't think would fly.
I suspect that if things got that critical, we would see armed confrontations between citizens and whomever the feds used to enforce their edicts.
In the event of the latter then blue helmets make for fine targets.
Silver Eagles? I got some of them and 400 quarters.
JM Bullion has a $100 minimum and free shipping.
Got some Morgan silver rounds this morning for spot + 85 cents.
It would automatically be open season on blue helmets if those clowns ever set foot in this country carrying arms.
Yep. I bought the 2015 Eagles because they were just a bit cheaper than the 2016 ones. Also ordered the copper Morgan dollars if only because they look good and they make really awesome tips when we go out.
We always get a happy waiter when we leave one of those as a tip!
If ZeroHedge says it, it must be true. ;-)
As part of the reset, the dollar will be replaced with a new currency.
Let’s call it a blue dollar.
Then you will be required to trade in your old green dollars for new blue dollars, probably at a ten to one ratio.
All prices reset, and debt is wiped out.
Gold was never “rounded up” by the gov’t. It was made illegal to own for a period of time. A whole lot of people “forgot” to turn theirs over.
This site is a ridiculous gold pimp. Gold will never be $8000. How absurd. They’ve been saying this crap since the Dow was 10,000 pts lower. Idiots.
Sorta like all those automatic weapons that were banned in 1934 but that were never turned in.
Of course other precious metals would follow suit.
EVERYTHING would follow suit.
Amazing how many people don’t realize that money represents relative wealth. A good suit or handgun always is worth about 1 oz of gold; all three will be (roughly) what we currently call $1000. Three gallons of gas will always be about 1 hour of mundane (minimum wage) labor; both will be somewhere around what is currently $8. Sure, the exact numbers & ratios may vary, but they’ll stay roughly the same. Increase minimum wage by fiat, and after an adjustment period you’ll find four loaves of bread cost about the same as sweeping floors for an hour. Declare an ounce of gold is $8000, and the price of a good suit or semi-custom handgun will jump to about $8000. There will be a brief period of chaos (during which some people will become extremely rich, while others lose everything), but it will all equalize out.
Declare the dollar to be worth whatever you like; prices will adjust to reflect it. Hyperinflation, and subsequent monetary collapse, happens when there simply isn’t enough value in society to pay off the debts - no matter how you redefine the fiat currency’s value.
Don’t worry about gold. World banks are rushing to a cashless society as fast as they can. In a cashless age, gold is with nothing.
Goldbug ping.
Well.....gold is about $1,150, so 8,000/1150 = 6.95, call it 7. A Big Mac is $4.00 ( not sure..I don’t go there anymore ).... Then 7 x 4 gives us a $28 Big Mac.
Holy Moly.
Zero Hedge didn't say anything. Willem Middlekoop says all that is said in this article.
“Lay not up for yourselves treasures on earth....” Either they will leave you or you will leave them.
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