June 15, 1933. a Warning to Bury gold . Im sure the Smart people did - Page 2
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Thread: June 15, 1933. a Warning to Bury gold . Im sure the Smart people did

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  1. #16
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    Quote Originally Posted by tinpan View Post
    Hi .Gee better walk to the bottom the hill and get some more TP
    Maybe I have a romanticized view of the past but I would like to think that anyone with a significant amount of the stuff coupled with an equal amount of sense would not turn it in.

    Then again if you understand that at any given point in history slightly over half the people are idiots that's a lot of gold to the smelter.

    As some consolation idiots generally don't accumulate much in the way of wealth.

  2. #17
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    Not only did the gov't do all of the above, but here's another twist. The price of gold was $20.67/ounce in 1933. The price being set by the gov't in 1837 and remained unchanged until 1934. Once the gov't had all the gold they raised the price of gold in 1934 to $35/ounce, thereby nearly doubling the amount that was confiscated from the people. No free market at work here, more like totalitarianism to me. Wealthy people stashed gold in '33, lots of it, I have no doubt. Gary
    jeff of pa and Billieg like this.

  3. #18
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    Quote Originally Posted by fistfulladirt View Post
    Wondering if you work for Apmex? Those that bought in 2011 are down. Down over 30% for 8 years now...currently down 20%. Terrible investment.
    Not really, Not when you look at all your options. You can invest in stocks which could have your investment anywhere from 100X increase to a complete loss. You can put it in a bank (the electronic version of your mattress) and watch as its value drops year after year because inflation continually robs the "value" from the dollar total. Or you can bury it in you closet, or the backyard and hope that fire or rot doesnt eat up all that fiat you squirreled away.

    PMs wont burn and wont rot, wont go bankrupt, and over hundreds of years, it still has a roughly equal buying power.
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  4. #19
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    Quote Originally Posted by fistfulladirt View Post
    Wondering if you work for Apmex? Those that bought in 2011 are down. Down over 30% for 8 years now...currently down 20%. Terrible investment.
    I bought hers in 2017 when gold hit $1,258. I bought some every year since it dropped in 2011. My average today is $1,348 per ounce for my gold. That's still $142 an ounce profit. Just think if the people of Venezuela bought gold before the crash they could now live like millionaires.

  5. #20
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    I started buying when gold was $400 and silver was $4!
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  6. #21
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    Quote Originally Posted by Billieg View Post
    I bought hers in 2017 when gold hit $1,258. I bought some every year since it dropped in 2011. My average today is $1,348 per ounce for my gold. That's still $142 an ounce profit. Just think if the people of Venezuela bought gold before the crash they could now live like millionaires.
    Many put their life savings in at $1800+
    Spider-Man, Spider-man...does whatever a spider can...

  7. #22
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    Quote Originally Posted by Billieg View Post
    Just think if the people of Venezuela bought gold before the crash they could now live like millionaires.
    A common Venezuelan couldn’t afford gold before the crash.
    Spider-Man, Spider-man...does whatever a spider can...

  8. #23
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    Quote Originally Posted by fistfulladirt View Post
    Many put their life savings in at $1800+
    Those people would be "stupid". Just like the people who dumped everything into bitcoin at its peak. Chasing fads in investment is the surest way to lose most of your money. Putting your "life savings" into any single thing is the epitome of foolishness.
    Billieg likes this.

  9. #24
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    Quote Originally Posted by Jason in Enid View Post
    Those people would be "stupid". Just like the people who dumped everything into bitcoin at its peak. Chasing fads in investment is the surest way to lose most of your money. Putting your "life savings" into any single thing is the epitome of foolishness.
    So, a good investment? /s
    Spider-Man, Spider-man...does whatever a spider can...

  10. #25
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    Quote Originally Posted by fistfulladirt View Post
    So, a good investment? /s
    I've posted this many times over multiple threads. PMs ARE NOT AN INVESTMENT. They are a hedge. The only people who can make money investing in PMs are the ultra rich who can afford to buy and sell huge amounts at the drop of a dime. These people arent hold/hoarding physical metals, its all paper transactions.
    Last edited by Jason in Enid; Oct 19, 2019 at 07:21 PM.
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  11. #26
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    Quote Originally Posted by Jason in Enid View Post
    Not really, Not when you look at all your options. You can invest in stocks which could have your investment anywhere from 100X increase to a complete loss. You can put it in a bank (the electronic version of your mattress) and watch as its value drops year after year because inflation continually robs the "value" from the dollar total. Or you can bury it in you closet, or the backyard and hope that fire or rot doesnt eat up all that fiat you squirreled away.

    PMs wont burn and wont rot, wont go bankrupt, and over hundreds of years, it still has a roughly equal buying power.



    In 1900 an ounce of gold would buy you a fine suit, tie, shoes and a hat. Today an ounce of gold will buy you the same thing. God never loses it's value like the dollar. Look at it like the value of what it will buy. It's a way to keep the value of your money. In 1970 if you put a $100 bill in your nightstand today it would be worth 42 dollars. If you bought 2 oz of gold it would be worth almost $3,000.
    Last edited by Billieg; Oct 19, 2019 at 11:11 PM.
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  12. #27
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    Best of luck to those buying and selling gold and silver, most of us cannot afford to buy them.
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  13. #28
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    Quote Originally Posted by Honest Samuel View Post
    Best of luck to those buying and selling gold and silver, most of us cannot afford to buy them.
    Silver is now only $17.61 an ounce. Go down to the pawn shop and buy 1 or 2 Maples a week. When silver hits $50 again you will have a nice nest egg. I have 2100 oz of silver dollars buying them that way and never missed the money. Instead of buying a new car I bought a 2004 Jaguar with 24k on it and looked new. I put the $380 a month that I would have spent on payments into buying gold. There are survivors and there are fools...
    Last edited by Billieg; Oct 19, 2019 at 11:27 PM.

  14. #29
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    Quote Originally Posted by Billieg View Post
    Silver is now only $17.61 an ounce. Go down to the pawn shop and buy 1 or 2 Maples a week. When silver hits $50 again you will have a nice nest egg. I have 2100 oz of silver dollars buying them that way and never missed the money. Instead of buying a new car I bought a 2004 Jaguar with 24k on it and looked new. I put the $380 a month that I would have spent on payments into buying gold. There are survivors and there are fools...
    Guess I’m the fool. 10 years ago, bought at $17. Here it is today at $17, a loss of almost 20% through inflation. What a hedge. Sure, there have been a few bucks gain here and there, but the windows for opportunity have been short. Top it off, both times that silver prices grew close to 50 bucks (twice in 40 years!) was due to market manipulation, and not true market forces. Banks are being fined for rigging, but it continues. I’m sure you can sense my bitterness.
    Billieg likes this.
    Spider-Man, Spider-man...does whatever a spider can...

  15. #30
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    Quote Originally Posted by fistfulladirt View Post
    Guess I’m the fool. 10 years ago, bought at $17. Here it is today at $17, a loss of almost 20% through inflation. What a hedge. Sure, there have been a few bucks gain here and there, but the windows for opportunity have been short. Top it off, both times that silver prices grew close to 50 bucks (twice in 40 years!) was due to market manipulation, and not true market forces. Banks are being fined for rigging, but it continues. I’m sure you can sense my bitterness.
    Yeah but let it go. It's not a loss until you sell. All it means is that you have tied up your money longer than you expected.

    Of course if you were just holding it with no expectation to sell like many do the cost to market ratio is totally irrelevant and you are upset over nothing.

    Tell your heirs what you paid and let them worry about it.

 

 
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