US to Gold Standard

Currently, Gold is selling for ~$1874/oz. Silver, $24.34

See Gold Price Today | Price of Gold Per Ounce | 24 Hour Spot Chart | KITCO for gold charts (up to 10 yr history)
Silver Price Today | Price of Silver Per Ounce | 24 Hour Spot Chart | KITCO for silver charts (up to 10 year history)

These are instructive - using the 10 year historical charts.

 

You would think with all this money printing gold would have blasted past it's last inflation adjusted high in 2011 and it's big high before that in 1980 would be a distant memory.
When if fact gold hasn't met either of those highs.
The fed inflation adjusted price of gold in 1980 was like $2,800 in todays money. The consumer price index adjusted price of 1980 gold was more like $10,000 to $12,000 per ounce on today's CPI.
The 2011 gold high took 4 or 5 things to get it there. Obama and china joe, high fuel prices, an orchestrated market crash with attack on US manufacturing, banks going under left and right, and wild money printing.
Now what's keeping the gold price high is money printing, an orchestrated market crash this time an attack on small businesses and artificial supply restrictions. Now lets look at what's keeping the gold from going higher, artificial low demand because of china virus, low fuel prices due to artificial low fuel demand. We don't have banks going belly up left and right which really freaks people out. I haven't seen any shady bank buy outs, mergers (aka hostile takeovers) or trading mortgages like kids trading baseball cards back in the day.
It will be interesting to see what happens when the plandemic is over and artificial constraints are removed.
Will gold supply increase faster than demand or does gold demand and fuel price outpace supply?

 

Gold should be increasing, but gold demand seems to be artificially limited by world governments. It is still the best investment of the last 20 years. YoY interest rate increase in gold is nearly 10%, while investment in the DJIA would have only yielded you <5% or 2% after inflation. The problem is, the markets themselves are manipulated. It was discovered 10% of China's gold was fake, yet that barely had any impact on the price of gold. It's my belief they are trying to herd people into the stock market, but your best bet to economic freedom is to hold gold for the long term.

That said, digital currencies are emerging and may usurp gold. The market cap is so small they could be easily manipulated and they may have originated from governments. For Bitcoin, all of your actions are recorded in the blockchain. However, even if government taxes every aspect of them and monitors usage, it will be difficult for them to completely control. Cryptocurrencies exist (Monero) with untraceable blockchains that allow a person freedom, if a government ever tried to oppress them. Move to another country and that "money" is still waiting for you, whereas gold requires physical transport. Both PMs and cryptocurrencies are potential future safety nets to beat inflation and escape oppressive regimes.

 

Unless of course, the computers are down.

 

Yeah aren’t the same people that recently war gamed a world wide pandemic now playing with the grid down super cyber attack scenario?

 

No shortage of RCM,s here .
have bought many thelast few months .
Sloth

 

i dont think gold is a good investment at this time. Just my personal opinion. However i do find it interesting that the proposal to move to the gold standard was introduced 3 years ago and is still in committee. TBH 3 years is not a long time in our present governement format. The introduction means it sits there till they can tack it on the end of a budget bill or something and get it pushed thru.

 

OK....I've bought gold eagles 3 times this year. Mid Feb, ($1630/oz) Mid May ($1814) Yesterday ($1920).

My average all in works out to $1769oz. I could sell those back today for $1852/each. Clearly I would lose on yesterday's transaction, but since my 25 year old strategy is buy/hold until I have spent my last paper dollar and really really really need to use my metals to pay for something, I don't think it matters.

1852-1769= $83/oz I'm ahead since February. The number of ounces I bought at the various date is not the same (and I consider that private enough to not reveal), which affects the return %, but it works out to right at 6% for now. Have a CD over at the credit union currently paying 2.7%, that if I had to renew today for another 5 years would lock in a 1.90% I'd personally would have already put it in gold, but my saner half likes the comfort of cash, even though in her head she KNOWS we're going in the hole every year between inflation and taxes on the gain.

IF (and yeah, it's an "if") gold goes back to $2,000 by February, that works out to around 13-14% return for the year. Below is a chart that shows gold performance over the last 15 years. 10.6% average. That beats CD's, Treasuries, and a LOT of the stock market (with it's associated risks)(especially for the little guy).

IF I'd had a crystal ball to buy in January when it was in the 1500 range, and IF I had the cash to dump in at the time (I buy as we build up extra cash, so I didn't), my return would be in that 21% range. But 6% year to date, with a potential to double by this coming February, and holding for the long term at 10% or better ON A ROCK SOLID FORM OF MONEY ain't too bad.

I rest my case.


Gold Price

 

I'm sorry for your loss.

 

I can tell.

 

Some reading for the golden ones :
The Golden Road Remains Constant

Central Bank Of Uzbekistan Introduces Parallel Currency: Gold

 

Why I think metals prices are being manipulated.
Every once in a while someone f's up and you get a glimpse of what's behind the curtin.
JPMorgan Chase’s nickel bags turn out to be full of stones: report

 

Hasn't the US been letting our gold reserves dwindle while other countries like China been stock piling gold. IMO there is no way the Federal thieves in Washington will allow us to go back to the gold standard cause they know there isn't enough gold in reserve to bak our astronomical debt.

 

We send our local commies back as payment?