$15,000 gold price by 2025? Jim Rickards and Peter Schiff!!

The World's #1 oil producer
The world's #1 oil exporter
The world's #1 economy
The world's #1 military
The world's #1 educated population
The World's #1 technology innovation
Etc
Etc
Etc

You guys keep dreaming of the demise of the dollar so your 8 ounces of silver might finally go up. You will continue to be disappointed. It doesn't matter how much money you think the US has "printed up". It's all very well controlled. They could print up a gazillion dollars tonight it wouldn't mean a thing if it's just sitting in fed reserve bank notes. Most people are broke as a joke, living off credit and govt subsidies and barely getting by. This "crisis" is 5 months old and already we are looking at a second govt freeby package. Pretty sad people can't make it 5 months without 2 bailouts. Point is it doesn't matter how much money exists, 98% of the population is broke as a joke.

 

Log in or Sign up to hide this ad.

It took decades to finally hit $2000, $15000 sounds real wild.

Why not something realistic like $3000 or so in the next handful of years.

 

I thought we may have been rid of you. Pity.

 

We went up 20-fold in the 1970's, but that was a wild decade: end of fixed exchange rates, soaring inflation, oil shocks, etc.

We will have a +$200.00 day on gold this year or next. Gold is headed towards $3,000 IMO....probably by 2022.

 

Flag-waving patriotism won't cut it.
If the people have the appearance of wealth and strength, when shtf they will crumbled like their iPhone packaging. As Apple puts on every one - "Designed in California / Made in China". Try to find anything at Wal-Mart made in the good 'ol USA. Not even the produce is from here.
We call people with 30-year mortgages "homeowners", and they will never fully own their homes - even if they stop siphoning the equity out of it because they will still have to pay $4,000+ per year to the government to live in their homes.
As Charles deGaul said in 1965, the people of the US have lived off of the rest of the world because Bretton-Woods gave them paper almost as good as gold. Nixon had to stop that in 1971 because everyone understood that he was right.
It is just a matter of time until the FRNs are understood to be what they really are - pieces of paper with a promise that can't be kept.
If silver goes to $500/oz., people that have some won't be rich. But they'll have something worth more than a Zimbabwe $100,000,000,000,000 note.
Every empire has its glory days before they crumble from within. This one won't last as long as the Roman Empire - things happen a lot faster now in the computer age.

 

And yet, to coin a phrase... "still waiting."

 

Rome wasn't built... or fall in a day.

 

$4,000 ? Where are these homes, the Ozarks ?

Average property taxes in the NY-NJ-CT area probably over $10,000. In nicer neighborhoods (not rich, nicer).....$15,000.

2 guys who never took an economics course !

DeGaulle was right in the sense that the U.S. ran persistent trade deficits...but that was the tautological flip-side of running a CAPITAL ACCOUNT surplus for direct foreign investment, stocks and bonds, etc. As the World's Central Banker, the U.S. was basically FORCED to print excess dollars and run a trade deficit. But that's NOT the same thing as living off the rest of the world because if that was the case Nixon wouldn't have wanted us off the gold standard.

Not only was the gold standard draining our gold reserves, but maintaining a loose monetary policy (supplying the world dollars) meant running a tighter fiscal policy or enduring inflation. In other words, the U.S. was no longer in charge of fiscal policy (sort of like the EU today).

Still the best house in a lousy neighborhood -- you want paper from the EU, Putin/Russia, or China ?

Maybe, let's hope Socialists never get control here.

 

I happen to make 4 products in Walmart sir. I reject your hypothesis.

Sure, there is a lot of cheap stuff made overseas at Walmart, but your assertion nothing is domestic is demonstrably false. Want me to send copies of checks my firm receives from them?

 

Hopefully they don't put you into bankruptcy, like Peter Pan Peanut Butter and Vlaaic Pickles to name a few. There is quite a list. The need to selk things for less than last year takes its toll.
Sam Walton was proud of only selling US made goods. His kids only care about the profit margin.

 

Property tax rates are the one thing California has going for it. Due to Prop 13 rates are set at 1% of the purchase price and are limited on annual increases. After 10+ years my property tax rate is about 1.2%, including all the local "assessments." Don't ask about any other taxes or fees though.

And yes, there are groups and politicians trying to repeal or do an end-around Prop. 13.

 

They will pull out the same old playbook, start with, "we need the rich to pay their "fair share" and we promise it will only be the rich". Then within 10nyears everyone is "rich".

Don't believe me? Look at the history of the income tax. The politicians swore that only the top 1% would ever be subject to it, and its "not fair" they aren't contributing their "fair share". Within 10 years 99% of all Americans were required to file an income tax return. Same game, over and over and the sheep always fall for it out of greed of "something for nothing".

 

Well aware sir. We limit percent of sales, refuse to enter mandatory margin reductions, and have one foot out the door at all times. Anyone ever going all in with them are fools.

Having said that, nearly all of their food is domestic.

 

Those things are not "flag waving patriotism" but rather Facts. The US is #1 in well everything. The nature of jobs has always been dynamic. That's nothing new. Designed in California made in China. What's the problem. You want a factory here where we put cellphone parts together. It's just not a lucrative thing. Yes there are plenty of unemployed. That's on them. There are plenty of jobs. Here in Seattle McDonalds is offering $22 an hour, 40 a week guarantee and that's to start. ??? And they can't hire enough good workers. At $880 a week = $46,000 a year. So would a cellphone assembly job even be able to find workers ?
I have been hearing for years how the USD is done, but it's amazing all the USD does is appreciate relative to other currencies like constantly. I remember the pound was worth 2 dollars now it's $1.25. The euro was worth $1.60 now I believe the dollar is worth more. The only thing the world had in us was energy dependence and that's completely gone now. Capatilism works great when the vast majority are broke and the vast majority are broke. Really a 5 month "crisis" should not require 2 bailouts. People have been screaming about hyperinflation for 15 years and the fed has had to work overtime to prevent deflation. Printing up dollars does not equal inflation when nearly everyone is still broke.

 

Times change. Sam Walton was before full fledged Globalization. His kids should only care about the profit margin. The way you talk about products being made overseas sounds a lot like " flag waving patriotism" rather than sound economics.

 

The euro is still worth more but it's only like $1.18 now or somewhere around there

 

Ok I wasn't sure.

 

I'm sure Wal-Mart sold lots of imported stuff when Sam was still alive. And his kids don't have any influence on the day-to-day operations of the company, despite their huge share holdings.

 

$3,400 an ounce sounds more reasonable:

https://www.marketwatch.com/story/g...of-the-20th-century-11596656597?mod=home-page

 

Sounds about right as I'm expecting gold to hit $3,000 and I'm thinking that's the cash out amount for me. Besides, I really don't want to buy anymore at these levels although I have bought some!