Silver Is On A Tear Today

What don't you know ? We had an audit and everything is there.

We have film and pics of the original gold being transferred there in 1937.

 

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The gold is there. There is basically nothing to gain from selling it. Let's do the math, 265 million ounces times $5000 is $1.35 trillion, and before the last few months its more like $500 billion. Its basically nothing versus our annual budget.

Everyone always wants more and more pictures of it, more and more audits of it to "prove its there". Security is all about privacy. If they traipse auditors through there every 5 years eventually all the different aspects of protection of the gold will be discovered. THEN it would be possible that some day it would not be there, since it would be robbed. The only way to actually protect something like this is to NOT allow many trips through the vault.

 

Well, its in everyone's best interest that the gold is ALL there.
But, if it was not, they (GOVT) would, could not admit it, it would cause a financial meltdown. Remember the 1857 SSCA disaster.
The fiasco with the delays and excuses when Merkel wanted Germanys gold repatriated, and the 1971 DeGualle thing, add to conspiracy theories.

 

Let us remember Goldfinger. He tried to rub the vault in James Bond.

 

A classic argument against the gold standard. Don't base your economy on something that can be "lost in a tragic boating accident".

 

I am doing my weights right now! I would get a real good workout, moving all those gold bars Mr. Goldfinger was not in good shape at all!

 

Honestly I'm way over the whole gold standard debate, because if you are for gold, you can just buy it - or silver if you can't afford it - and be your own bank. You can also invest in other assets as a hedge depending on your personal philosophy. Even platinum is a possibility if you want to try something different. So, again, you can be your own bank. However, the very reason why this thread was created is because the dollar is getting flushed down the toilet with unrestrained money-printing. So it seems advocating for fiat currencies is like advocating that we trade government-stamped toilet paper.

 

Thats why he had his side kick to do the heavy lifting.

 

Absolutely 100% correct. When nations used precious metal/ ie: gold, silver coins, sovereign states were screwed when they ran out of gold, silver. Or.....like England/ Great Britain, plundered it from the Spanish The "Virgin Queen" Elizabeth I was a pro at that, also she started the slave trade....in English Indies plantations.

 

No he wasn’t but his pilots were.

 

Even 20 slabbed Double Eagles in NGC box, you can feel the weight, thats only 20 oz.

 

I've often joked that since I cycle for exercise, I really should be filling my bike frame with lead. I suppose gold would be even better! Heck, I could easily fit a hundred kilos or more of the stuff into my bag. Not sure the rack would hold up, though...

 

But we were on a gold standard back then. Money supply and economic expansions were tied to new supplies of gold.

That is NOT the case today.

The price of gold might go UP if alot of gold was missing from Fort Knox and there'd be political repurcussions, but financially it would be pretty much a NothingBurger.

Merkel's request was one of logistics. You just don't get hundreds of tons of gold like it's a few coins from an SDB.

deGaulle was one big PITA...OBSESSED with Triffin's Dilemna and our alleged "free ride."

France could have been the global reserve financial power....they would never allow gold to leave the country AND they'd never run trade deficits which is required of a reserve currency country. Their capital markets (for the surplus) are also too small and too illiquid to work as the flip-side of the trade deficit.

 

Just make the frame out of gold. Lol

 

If you can afford that much gold, just get the eBike.

 

I would love to own a gold coin! But that will never Happen.

 

Advocating for fiat currency that is properly managed is a much different animal than defending what countries are currently doing sir. Properly managed fiat currency is like democracy, the worst form of something except for everything else ever attempted.

I like shiny, I like Scrooge McDuck'ing my pm stockpile sometimes. However, limiting growth of an entire economy to a random metal seems kind of off base as well. Why that versus barrels of oil, bushels of corn, or board feet of timber, something much more usable in daily life?

 

Never say that sir. I thought the same for much of my life but I worked hard, improved myself, and about 8 years ago bought simply quite a lot of gold coins and could afford many more now if I wanted them. If you want something work towards it and you can achieve.

I have shared it before but I grew up on the border of lower middle class/poor. No one in my family had ever attended college and my mother's idea of success in life was getting a good union job at the post office. Well, 4 college degrees later, (bachelor, 2 master's and a doctorate), I have been a C suite officer of a billion dollar company for 18 years now. Work hard, push yourself, aspire to what others have (never be envious or jealous), and you too can achieve it. Envy and jealousy are horribly corrosive, they stop you from improving yourself and funnel your energy into trying to tear others down.

 

You might be interested in the Nieu Scrooge McDuck silver coins from the New Zealand Mint (I have a couple). I've learned over the years that the world will do what it does, so I don't advocate either way. I'd rather focus on myself rather than suggest how society ought to run - I think most of us probably overestimate our managerial abilities in that arena. So I defer to experts - the Fed or whoever. That said, I think the silver bugs who criticize monetary policy were ultimately proven to be at least partially right over time. Most fiat currencies around the world have failed, and we have the growth of populism right now because life has become blatantly unaffordable.

 

Why? You can get a few of them for under $500.00 each. Just save your money and it will happen. They wouldn’t be a $20 gold piece but it would still be gold. I bought my first gold coin when I was 7 or 8 years old. It was a California gold fractional privately minted 25 cent piece but it was under $5.00. Five dollars back then is worth about $65.00 today. Not a lot but times were better and I did it. You css as n too if you think you can.
If you could save $5 a week you’d have $260 in a year.