Gold is over $1700 an ounce, but LCSes forbidden to do business

Discussion in 'Bullion Investing' started by myownprivy, Apr 6, 2020.

  1. Brian Calvert

    Brian Calvert Active Member

    Be glad, hold it, it will be much much higher in 6 months and even higher in a year. This Virus will go southern hem. and back again. -30% GDP for 12 months is going to damn near, if not, destroy America and the Dollar. China is rolling and we wont even get our testing right until June.
    It is a debacle of major proportions, and dont believe much of what you hear on CNN, MSNBC, FOX, Cnbc, all paid shills. Almost like actors put up to tell you what the group of billionaire banksters, and their lead politicians want you to hear on THAT DAY.
    They are hiding, or should i write, not telling a lot of what is coming. Some things they cant hide, like unemployment, correct ? What happened 10 MINUTES, literally 10 Min. after the 6.5M was posted this week ? FED announces another 3T in CASH. That is coverup, another week of BS to lie to America. We were not in position to deal with this. Add in bad leadership at WH, Both sides of Congress, Treasury, , Department of Justice, FED, and this is a huge problem that cant be fixed, only, like the debt, kicked down the road. Hope for fast track vaccine and a shot available by June 2021 for any chance to save the dollar !
    I to am not a doom and gloom guy, just real news triggers me, max keiser, Peter Schiff, George Gammon and especially the economists this group interviews. They, and others tell the truth.
    My buddy owns a big $ fireworks store, he is trying to be as positive as he can, but all of his partners are realists, they told him it is going to be really bad, short on stock, and so on. Picture yourself in 7 months, no vaccine, you going into a carabba for dinner ?
    We are in Big big trouble.
     
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  3. Rono

    Rono Senior Member

    Howdy folks,

    Not a doom and gloom guy either. Never been a gold bug. Not a prepper. That all said, I was a Boy Scout and do believe in Be Prepared and I've been a collector for over 60 years.

    When we get massive testing AND some treatments, we'll start getting the economy back up and running. However, and this is huge, some parts of the economy will take years if not decades to recover. Some never will. We all need to start thinking of life as BV or AV. Before or After the Virus.

    Some industries that are DOA include Cruise Lines, Casinos, Resorts and big Hotels, Convention Centers, stadium events - sports, concerts, Rallies. Sure, maybe when there's a vaccine, (and before for some), people will start to fly or cruise or go to Disney World. BUT it's a greatly reduced percentage of people that did BV. And we all know folks that never traveled before - it's now a much larger number. How soon are you going to get on a commercial aircraft to go on vacation with your spouse? Gonna take that cruise?

    We were booked on a Med Cruise with Viking for April 24th starting from Venice and sailing to Barcelona. Getting a cash refund BUT at 71, I doubt we're ever going to go on a cruise again OR a foreign vacation or fly in a commercial plane. We an expression in the service, 'if you can't truck it, *uck it'.

    Forever changed? Restaurants (with social distancing cutting revenues in half, most are OB but all will be changed. They're estimating that at least 30% of all restaurants will disappear before fall. Education - why pay $1000's in tuition when you don't go to class but take the courses On Line. Ed will never go back to F2F.

    Medicine? Going virtual but watch what's happening right now to the For Profit Healthcare industry? They're all going bankrupt as I type. All their profits were on nickel and dime BS charges for BS care and procedures. They are all shut down as being Non-essential AND they're laying off medical personnel - as I type. Oh, but there's the public health system. Ooops. My bad. There is NO public health care system.

    It's all about going from a Face to Face world to a Virtual world. How many people have been forced to make their first On Line purchase or go On Line to buy groceries and have them delivered? They're going to LOVE IT and many will not go back to going to the Big Box stores. Malls? Oh really. Plow them under and turn them into Drive In Theaters 'cause God knows movie theaters are toast.

    For going forward, WATCH what happens? Who gets it and who doesn't. Which companies and industries have adapted and are doing well?

    good luck folks,

    rono
     
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  4. -jeffB

    -jeffB Greshams LEO Supporter

    Sitting in classrooms is not the most important part of the college experience for most people. The cost of party camp/frat-land/spouse-finder has been spiraling out of control for quite a while, though.
     
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  5. fiddlehead

    fiddlehead Well-Known Member

    All that aside - about the original question - are the large on line shops still open? I've had good luck selling to some of them - quick payment, fair price only a little below spot. However - I only sell when I need or want to use the money for something else. But generally I don't buy bullion to sell it, I buy it just to have it in case it's really needed - trade for essential stuff or whatever. I'm glad I bought some when it was cheap, but if the price goes down under 1100 again I'll just try to buy a little more. It can be a good inflation hedge - sometimes.
     
  6. Brian Calvert

    Brian Calvert Active Member

    Excellent POST.... Glad to see future thinking with honesty.
     
  7. Brian Calvert

    Brian Calvert Active Member

    WOW... What a great IDEA !!!!!!!!!!!!!
     
  8. Brian Calvert

    Brian Calvert Active Member

    Yes, my daughter is not too HAPPY being Home for this extended period, her boyfriend is only 40 minutes away and we refuse to allow her to see him.
     
    GoldFinger1969 likes this.
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    This virus thing has been great for the U.S. dollar. China's lack of transparency has put off another 10-20 years any talk of the Yuan being a convertible and global currency.

    You might as well trust your $$$ with the mob.:D
     
    fiddlehead likes this.
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BARRON'S had a bullish piece on gold this week...they said the intraday high was $1,923 on 9/6/11 ? Anybody remember that ?

    I thought that the CLOSING HIGH was just over $1,800. I don't recall any intraday high over $1,900 which probably would have led to a close in the high-$1,800's.

    I don't recall gold spiking up over $100 intrday and not closing near the high but maybe my memory is bad as I was more concerned with the equity and bond markets. :D
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    I do pretty clearly remember it passing the $1900 mark, but not closing there. Then again, when the market is extremely volatile, I see pretty big spreads in the figures quoted on different sites. There were times when Coinflation and APMEX, for example, had prices differing by several percent.
     
    GoldFinger1969 likes this.
  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I think you're dead-right, Jeff. Thanks !
     
  13. kaparthy

    kaparthy Well-Known Member

    See Rono's reply in #18 above. I lived in Lansing and central Michigan for many years before moving to other places. I just got my 25-year ANA pin. I joined late in life (over 40), never much interested in numismatics before that, but always interested in (ahem) "monetary theory." I first patronized Liberty in 1972 when it was owned by the late Bill Bradford. They are members of the PNG. When I got interested in ancients (why I joined the ANA), I found them knowledgeable and helpful.

    You can find their daily price quotes online.
    https://libertycoinservice.com/wp-content/uploads/quotes/daily_quotes.pdf
     
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  14. InfleXion

    InfleXion Wealth Preserver

    Some coin shops are able to remain open by appointment only, and notify preferred customers when shiny comes in, but very few are doing so. They can still get COMEX bars for big spenders. The problem with supply is that everybody is set on eagles which are grossly overpriced. Generic is the way to go right now IMO.

    Whether to sell now, maybe if you think you can buy in for cheaper soon, but don't expect these prices to last into 2021. The economy on hold means less supply and less demand which means velocity is getting crushed which means deflation is coming, deflation that will bankrupt the banking system and their leveraged assets. Why else would the Fed create nearly 10 trillion dollars in a month but to save their skin. We'll get a pittance, but it's not being done for the people. In the end it will cause stagflation and possibly hyperinflation, and if you don't get your metal before that you'll be priced out of the market.
     
    GoldFinger1969 likes this.
  15. fiddlehead

    fiddlehead Well-Known Member

    The Chinese, they are sort of the mob!

    dt
     
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  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Gold Reports from Scotia Bank: Here are some current Gold & PM sell-side brokerage reports with lots of gold and PM stock data plus comments on the bullion price.
     

    Attached Files:

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