Precious Metals And The Coronavirus

About $50 to go until PT hits my magical, "buy what you can find at $800" mark. Did buy $25k of stock this morning. Maybe it will go down more next week. I will respond by buying more.

Just documenting, since way too many people like to claim what they did in hindsight. I am documenting as I do it. Feel free to look back and call me an idiot if it was wrong. I cannot read the future.

 

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Smoke em if you got em, I don’t think this will last too long either. A lot of fundamentals are still ok.

 

Hey the setting is 2022.

 

.... Is that all the FUNDAMENTALS that count. Or ones CNBC, Bloomberg and others push forward ? Stocks as of last Friday were never more overpriced. NEVER ! Higher than the pre-1929 crash. Earnings are down ACB for every sector. Now the world supply chain is grinding to a halt.
We will be lucky to not fall below 0% GDP and China, SK, will be negative in this Quarter which wont report for a couple months. Our National, personal debt is off the chart and the inequality is NOW higher than the 1920s. Top 20 billionaires (worth 1.31T)now have equal wealth to the bottom 51% (3,75B people) of the WORLD are worth 1.3T.

There are plenty of salesman and up up up until it is all destroyed is what we as humans do. I understand the guys who sit in here with cushy retirements because they were just LUCKY to be born at a time when it was a giveaway. Show up for 40 hours a week, reap the benefits.

This system is financially and fundamentally flawed, bankers know it, why they are getting so rich and spend billions to keep the propaganda flowing. Sad part is those gullible enough to buy it


Really sad that so many are glazed over by the news media and dont bother to do real research. Our system is now basically a pump and dump. And as always, those telling the truth are labelled TINFOIL hat wearers...
Just like those that called the housing bubble BEFORE the collapse. Lets call the doom and gloom to make ourselves look more main stream.

 

We need to stay apolitical sir.

I will say I rail against BOTH parties predilection for increasing debt. I do not have a party that represents me. I believe in personal liberty and responsibility, balanced budgets, and keeping our military on our own soil.

 

If corn will last for thousands of years, then I will accept that. Does silver not corrode? Nothing takes the place of gold. Come up with a "commodity" equivalent to gold. Rare, but not too rare. Something that can't be created of grown.

 

Platinum, iridium, rhodium.

Heck, uranium -- not only durable, but highly useful.

Oil lasts for millions of years; it just isn't very compact.

 

Howdy folks,

Ah, fun times. I'm a long time collector (60+) and hoarder (40+) but also a very active investor for 30+ years. The stock market is tanking due to uncertainty. No one really has any bloody idea EDITED is going on. As pointed out, gold is the safe haven bet right now while silver is being a little neglected (industrial usage bent) and more manipulated as is wont. feh. That's OK. Silver still has the leverage. I was adding yesterday afternoon to CEF, and SILJ while starting a small position with GDXJ. At the same time I was dealing with Apmex for some physical silver in addition to my normal annual purchases this time of year.

If you add up all the geopolitikal issues with a coronavirus cherry on top it looks pretty bleak.

I most sincerely urge all you good people to fasten your seat belts.

and so it goes,

peace,

rono

 

Yeah, a few million dollars and a lease on some land cannot create gold...... gold in your hand is every bit as created as a bushel of corn.

As for lasting thousands of years, I worry about a few months. How many people need to have a store of value for thousands of years with the average life expectancy of 72 years?

Like I said, a compact commodity to barter with, all pm is a good choice. Rhodium is better since it's more compact and rarer IMHO. So are high grade ancient for that matter. Ancient coins, (metal value irrelevant), are also a fantastic choice. They, along with diamonds, actually do have a reputation for international smuggling they are so handy at it.

Btw @TheFinn no disrespect meant with the disagreement. I am an ancient collector, and know intimately the origin of coinage and money. One of the main points we did not solve until later was government sanction so it could be traded freely. There were lumps of bullion for thousands of years, but were never "money" because each exchange purity, weight, value had to be negotiated. Only with government guarantee did the bullion become "money" to most people's view. Valuable, yes, but not "money".

 

I agree it is uncertainty and fear. These are based human emotions and hard for most to rationalize away. History has proven those who have the fortitude to overcome their fear usually profit.

I believe it was as fearful or more in 2008-2009, and I made a lot of money in equities. I would have made more if I would have dumped my PM to buy more equities though.

 

I hope silver falls even further. I am about to buy more and want to get more for my money.

 

Corona virus will indeed spread as any other virus that is transmitted easily through the air. Hopefully, the virus will run it's course within a year, not more. Justified fears for the deaths that will follow but not the hype which is causing markets to fluctuate wildly based on rampant speculation. Hold on to your gold and silver and wait out the storm.

 

What makes you think this is true, and even if it is, how long do you think it'll take to recover from the global productivity blow that it deals during that time?

 

Is China going to close their cultural meat markets of live and dead animals, and human buyers? If not expect more different viruses and mutations of the current ones. There is a lot to learn about these in the future and no one seems to want to push money in that direction. We wont really know how serious this is until the following generations of the virus come along.

 

I love coins too, and understand their rarity. It is just hard to convince most people. Rhodium is rarer, but not as easily accepted.

 

It has to be something easily identifiable. Except for copper, gold and cesium (can't be exposed to air/water without exploding), all metals are silvery in color.
Oil has only been a usuable commodity in large quantities for 125 years give or take.

 

Did someone say 1000 year corn ? Long term (25+ years) freeze dried food for emergencies? sold out every where. Warehouses drained. 1-2 months now to receive an order a #10 can of food. I can't tell if the usual suspects (preppers) added to their home supplies, some saw an opportunity to buy and resell at 2-3x (not seeing it on ebay yet), or parts of the regular population decided to finally get some. A few people have mentioned in our town that Costco is overly active. This is on top of masks and hand sanitizer and other things which are gone everywhere. PM are nice to have - but food and water and medicine rule in short term major emergencies. Kinda weird out there. And when there are more deaths in the USA - and their will be - its going to increase.

 

Americans are an odd sort. Freak out over what might happen yet ignore death that is preventable.

 

Good point.

 

Someone should tell the cackling news room cartoons that viruses aren't new. And...Duh, sometimes people with weak immune systems die from them.