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THE LOBBY A gathering place. Introductions, sports, showin' off your ride, birthday-anniversary-milestone, achievements, family oriented humor. |
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#1
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Gold/Precious metals
Gold over the past week has skyrocketed and has blown away the all-time high.
Just this evening when gold opened up, it jumped another $50 over what it closed at on Friday. Silver is climbing at the same time, and as far higher than it was a few months ago. https://www.apmex.com/gold-price Why the huge jump all of sudden? |
#2
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Quote:
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“It takes considerable knowledge just to realize the extent of your own ignorance.” Dr. Thomas Sowell |
#3
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More people are waking up!
Get Silver while you can. |
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#4
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If anyone wants to pay spot I'm your huckleberry......
Buying and holding is easy but the problem with physical Gold & Silver is selling. 85% - 90% of spot is the going rate. Yes I know you can buy stocks or options but anyone who buying without taking physical possession is buying for different reasons than I am. Golds overrated, Lithium investment in salton sea I heard.
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https://www.flickr.com/photos/197745168@N07/ "There's nothing more unsatisfying than watching an electric car go down the dragstrip." |
#5
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The moves Mark Cuban made last week tell why this Gold surge has happened.
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"The Future Belongs to those who are STILL Willing to get their Hands Dirty" .. my Grandfather |
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#6
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Gold, and especially silver should be much higher in price due to the fed printing trillions of dollars for nearly 15 years but they have been synthetically held down and manipulated. JP Morgan got caught manipulating gold and silver prices in 2020 from the years 2008-2016, paying a 920 million dollar fine.
A lot of people cashed out their 401K's and flocked to precious metals when the economy plunged in 2009 thinking it was a safer bet and couldn't be manipulated like the dollar is. Surprise, precious metals is even more manipulated than the dollar and the stock market. |
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#7
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Don't look at the price, look at the percentage increase over time. Gold and Silver have only made modest gains in the last four years. Would have done much better in the market.
I dumped about 150 ounces of silver at around $23.50 a few months back. Bought most of it around $17 .... but that was probably ten years ago .. so mehh. For the average person precious metals are a terrible investment. Huge believer in keeping a decent amount on hand, but not as an investment, but as a safety net. Bear in mind $50 increase on a $2000 item is 2%, Silver has done better in the last few weeks with more like a 10% increase. If you walk into a shop with physical metal and they won't give you spot for good branded ingots ... walk out. When recently selling some silver, we took out our phones, we both looked up spot, that's what he paid.
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I'm World's Best Hyperbolist !! |
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#8
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My wife says you cant eat gold. Seems she recommends we all take on a gardening with far less expense.
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#9
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Quote:
James Q
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James Quayhagen 1963 Bonneville Safari - Nocturne Blue, 4-speed |
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#10
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Very true. At our house, we eat the most expensive eggs and produce the world can offer. But the quality is excellent.
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70 TA, 467 cid IAII, Edelbrock D-port heads, 9.94:1, Butler HR 236/242 @ .050, 520/540 lift, 112 LSA, Q-jet, TKX (2.87 1st/.81 OD), 3.31 rear https://youtube.com/shorts/gG15nb4FWeo?feature=share |
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#11
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We believe in investing in the extra-precious metal futures.......
Copper, lead and brass. And powder. Prefer 'professionally assembled', but have the capability to assemble in-house if needed.
Very nice when these are delivered in sardine-style tins for long-term storage. Along with the 'matching' delivery instruments. In reasonably large quantity. You can't eat gold or silver, and, depending on how bad things get, you might not be able to purchase food and other necessities. With OUR precious metals and delivery instruments, we can always get what we need. And protect what we already have. But we're hoping it never comes to that........ |
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#12
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If we sold eggs and veggies the eggs would be $20 a dozen. canned tomatoes $20 a can LOL but i keep my mouth shut .
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72 Luxury Lemans nicely optioned |
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#13
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Gold and silver tend to be somewhat seasonal, and the end of the year into the first of the new year is generally good for Gold.
There are ETNs available based on selling covered call on silver and gold. The price of the shares somewhat tracks the base metal, but the investment typically pay dividends of 10 - 20%. Dividends are paid out monthly and vary. I bought SLVO in early October. If you look at Yahoo Finance, you will see it paid 20% yields last year. |
#14
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Quote:
James Q
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James Quayhagen 1963 Bonneville Safari - Nocturne Blue, 4-speed |
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#15
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I get a better return on automobiles...
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Current Pontiacs - 1973 Formula SD455 - #'s auto orig paint 1972 Trans Am - 4 speed orig paint 1974 Formula 400 - Ram Air automatic 1966 2+2 convertible - 421 4bbl automatic 1967 Grand Prix - 4 speed orig paint 1967 GTO - 4 speed orig paint 35k orig miles |
#16
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LOTS of fake "silver" ingots out there! My silver is now ONLY US silver dollars.
As to gardening as an investment? You have to garden a few years to get all the necessary tools so your only annual investment is seed and fuel. Jon
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"Good carburetion is fuelish hot air". "The most expensive carburetor is the wrong one given to you by your neighbor". If you truly believe that "one size fits all" try walking a mile in your spouse's shoes! Owner of The Carburetor Shop, LLC (of Missouri). Current caretaker of the remains of Stromberg Caburetor, and custodian of the existing Carter and Kingston carburetor drawings. |
#17
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Gold has been absurd for some time;
I have heard time and again that silver has had it's value artificially surpressed - and it's just a matter of time before it too will go up. I believe (going off memory here) that historically, silver has been 1/20th the value of gold, and that ties to the quantity of gold mined versus silver mined. Right now I am seeing the spot price of: silver = $24.01/oz(usd) gold = $2,013.60/oz (usd) if silver was at a 1:20 rate to gold, at the above gold value, silver should be a skooch over a hundred dollars an ounce. I have been buying any old silver currency I could for the last ten years when the price was right.
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1970 Formula 400 Carousel Red paint on Black standard interior A no-engine, no-transmission, no-wheel option car. Quite likely one of few '70 Muncie three speed Formula 400's left. 1991 Grand Am: 14.4 @ 93.7mph (DA corrected) (retired DD, stock appearing) 2009 Cobalt SS: 13.9 @ 103mph (current DD; makes something north of 300hp & 350ft/lbs) |
#18
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Gold and silver are used for industrial purposes due to their conductive properties. Both are used as plating on electrical conductors, in batteries and photovoltaic cells (solar energy), weapons, nuclear reactors, etc. With the push to move to EVs and the ongoing wars, I think the demand for silver will increase.
I work in an industry that uses a lot of silver plating on high current bus bars. I personally think silver has been underpriced for some time. |
#19
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That is my take!
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My money talks to me-it usually says goodbye! |
#20
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The problem with silver pricing is that astronomical amounts of refined silver are in private hands, from coin collections, real silverware, jewelry, ingot stackers, etc. I mean literally millions of tons. Not to mention current mining techniques can bring silver to market easier and larger amounts than back when the original gold/silver price ratio became a thing. Also silver is very easy to reclaim/recycle.
Every time silver prices approach any kind of landmark price .. $20, 25, 30 etc. Private citizens and investors unload huge amounts of silver into the market and the price goes back down. Once a generation typically some whale will make a play for silver and drive the price way up, millions of tons get dumped and it collapses again. Hunt brothers did it the last time .. something like $57 back in the 80's I think. I love silver, it's cheap and you can buy a lot of it, but I don't consider it an investment. I kind of use it as a savings account, it's not as easy to spend as cash, and if you buy low and sell high you can sometimes, almost, maybe, get the same returns as if you had invested the cash in more typical ways.
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I'm World's Best Hyperbolist !! |
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