Silver getting crushed today

Oops, sorry about that.

 

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Ah yes, you must have seen what happened to my post #2578...got squelched.

 

A little history on such. This site was started specifically for numismatics , and the owner wanted specific rules, so that all members would feel safe in speaking their opinion of numismatic matters without ridicule or hard feelings, no matter individual differences. The administrators spun the area of Religion, Politics, World events, etc. to a sister site partisanlines.com , where the rules are much more 'free'. It was popular during some years and less during others. Thus, this forum enforces the rules stringently in these areas. I am sure the people on that site would be appreciative if more members would visit them there for robust discussions of political actions. I checked a few minutes ago and the most recent visitors were 'robot's. Jim

 

That's not exactly true. The currency was still backed by gold. Had it not been there would have been no need for FDR to devalue the currency by 42% a year later when he changed the price of gold from about $20 to $35. Even after Breton Woods the currency was still backed by gold: US residents could not own it but foreign countries could still cash in their dollars for gold. Not until Nixon finally severed the tie in 1971 the was gold-backed currency finally terminated.

 

Thank you very much, Jim, for the extremely thorough explanation, and I really appreciate your taking the time and effort to provide it.

 

That is somewhat of a technicality though, since from 1933 on there was less and less likelihood every passing minute that there was anywhere even near close to being enough actual, physical gold in the possession of the United States of America to back up every single paper dollar issued from then on by the Fed.

 

silver is gaining a penny or two.

 

Silver is the Rodney Dangerfield of precious metals; it just doesn't get any respect.

 

a cell phone contains about 0.034 grams of gold, 0.35 silver, 0.00034 of platinum.
think of all the new and old electronics the gov't would have to seize to "confiscate all" of your PMs. Or plated silverware, teapots, mirrors, jewelry, etc etc etc

By some of the logic here, my mortgage, which is fixed, is actually reducing in $$ because my house valuation is going up, and the valuation of a dollar is going down. Doesn't sound bad at all in that respect. gas costs less, loaf of bread. I guess it's all the big toys that go up in price. Of course, if your pay is stagnant, the economic calculation can go either way depending upon how you build the equation/theory.

I wonder how many pork bellies and oz of silver can buy right now ?



fyi, I love the goat correlation up above.

 

chart is flipped today so far ....

 

If it keeps up I may just buy some american flag stacking bars this weekend.

 

The idea of investing in PMs has always been absolutely foreign territory for me. There was a time when I was earning a good salary but had correspondingly large obligations to take care of, and now that my children are off on lives of their own and I am long retired, while my regular expenses have dropped considerably my fixed (Social Security) income imposes a major financial constraint. Instead of stacking and such, I keep myself content/satisfied by picking up the occasional pretty Mint product and calling it a day.

 

And so it should be to everyone.

 

Yours is a welcome affirmation.

 

When one no longer has the expendable money for such as coin purchases, many find it eventually more enjoyable to 'master' the knowledge of the history of the era and the coinage of that time. There are many on the forum who have done that and are quite happy to not just be a "accumulator" but a "connoisseur" of coins. The forum benefits tremendously from that group. You do not have to actively collect to be a true Numismatist.

 

Yea its been a rough week on the farm here. I have a little extra money from selling a couple old barn finds so I think I may treat myself.
The dog decided he did not like the Black and White kitty in the yard the other night And well they both lost!!

 

I was just rolling that very thought around in my mind, so it's especially good and particularly fortuitous to hear it from a fellow numismatist at this very moment. Thanks!

 

'musta been one of those "stinker" varieties of striped "cats" ...

 

Yup!!!

 

Didn't "get" this on my own; good that someone else was able to "solve the riddle."