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

Discussion in 'Bullion Investing' started by fretboard, Jul 30, 2020.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Many people do. You can only move income around so much.
     
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  3. losthomer

    losthomer Active Member

    You're saying there's wealthy people out there that take zero deductions?
     
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    If your income is high, deductions won't bring you down to a lower bracket. And they may be limited via phase-outs, too.

    For many/most people, their average tax rate is lower than their marginal rate -- but not by much. For the Top 0.1% of income earners, it's basically the same.
     
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  5. fretboard

    fretboard Defender of Old Coinage!

    Exactly! You're right but in my mind I would think anyone holding gold would appreciate they're attempts to pump up the price! Almost every time I leave a link it shows the highest price possible! It doesn't matter to me if they say $15,000 or $20,000 as I know they're just talking smack to sell more gold. I don't buy from them, so it don't affect me in the least! :D
     
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  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Perma-bulls and/or perma-bears who make outlandish predictions are just hoping that lightning strikes twice. :D

    I can give you dozens of names of the big individual newsletter writers from the 1970's (gold/silver) and 1980's (stocks/bonds) who made great calls....made their clients lots of $$$ (and themselves too)....and then never did it again for 2 or 3 decades.
     
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  7. -jeffB

    -jeffB Greshams LEO Supporter

    I won't say that "something isn't right" when a single person's wealth/income makes or breaks a state's budget.

    I will say that our current system of laws isn't well-designed to handle that case.

    I also suspect that our society as a whole isn't well-equipped to handle it.
     
  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    CT is in the same position, they demonize hedge funds (some of the pols) but 6 guys in the industry pay like 15% of the state taxes.

    6 guys.

    This isn't the 1920's where it takes YEARS to move a factory and re-supply your company. It takes a few hours to re-locate a Bloomberg terminal.
     
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  9. -jeffB

    -jeffB Greshams LEO Supporter

    And while those 6 guys might not use that leverage to bend the state's laws to suit them, the situation still makes me uneasy.
     
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It's been a 1-way street, the states taking more and more and more and getting greedy.

    If these guys were paying less and less and extorting special rates for themselves, that would be one thing.

    But the states -- usually 1-party states -- are getting greedy and keep assuming that the $$$ will always flow in.
     
    baseball21 likes this.
  11. medoraman

    medoraman Supporter! Supporter

    Sad thing is, look how far CT went so quickly. Remember it used to have NO state income tax, and once it started it pretty quickly became one of the highest, all while not reducing any other taxes. I guess its true, eventually you run out of other people's money to spend.

    Meanwhile, Hartford used to be the largest insurance center in the US. About half of those firms have now fled, with others evaluating their options.
     
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  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Meanwhile, gold is up $25 today and over $2,000 !! :D
     
  13. fretboard

    fretboard Defender of Old Coinage!

    Life is good! :D I wonder what the gold bulls on youtube are gonna be sayin' now?! laugh.gif
     
    GoldFinger1969 likes this.
  14. yakpoo

    yakpoo Member

  15. fretboard

    fretboard Defender of Old Coinage!

    This is a huge deal to me and I feel honored to have lived so long! :Dj/k But I remember back in the late 1960's early 70's when gold was trading for $60 an ounce! That's right, back then you could buy a high grade Saint Gaudens for less than $100! This is a big a$$ deal! :D
     
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  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Gold was $35 and $42.22 through 1973....Gem/Unc Saints list for $110 in my 1970 Red Book.....1907 HR's for $950 !!
     
  17. -jeffB

    -jeffB Greshams LEO Supporter

    Coinflation seems to have had something stuck in its throat for the last few months -- that featured story on the left has been there since April:

    upload_2020-8-4_15-14-44.png
     
  18. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, and how much were you earning at that point? I think my allowance had gone up to 50 cents a week... :rolleyes:
     
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  19. medoraman

    medoraman Supporter! Supporter

    /awkward......
     
  20. medoraman

    medoraman Supporter! Supporter

    You GOT allowance? Lucky.
     
    GoldFinger1969 likes this.
  21. -jeffB

    -jeffB Greshams LEO Supporter

    Sure was, although if I hadn't, maybe I'd be more of a hustler today...
     
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