Gold - What Happened?

Yes, if you look at the stock and precious metals markets everyday, you will drive yourself crazy. The trouble is, you do have to keep an eye on them now an then.

General Electric declared a reverse split a month or so ago. Those are rare enough to get your notice. The stock price went way up as a result, but of course, you have few shares. It's got me thinking about bailing on it.

So far gold and silver prices go, I am not comfortable with the current prices. I think that they will come down. If they don't, inflation will catch up with them, and value of the dollar will be less. We could be looking at replay of the late 1970s.

Still I have to buy prizes and the like for my local club's door prizes and raffle. The silver price has made silver coins too expensive. The membership is going to have think about what they want to do.

 

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Unfortunately, I tend to agree. Just a little over a year ago, I was buying silver at $12. At this point, I wouldn't be surprised to see it there again soon.

 

Be on the alert for this one. As understood in these fine infrastructure bills coming through the Senate and House. To pay for this, and as I understand, crypto, among others are in these bills are to be taxed, can't wait too see how. I'm sure speculators are loving this.

 

I still don't understand the crypto market, it just doesn't make any sense to me. I know many here have tried to explain it well, but I just don't get it.

 

Neither do I.

Regular money derives its value from the fact that it is accepted under the law to satisfy debts. That includes settlements when you take people to court.

Crypto gets its value from the fact that other people and business accept it as money. It does not have the force of law behind it, and unlike a corporate bond or stock, there are not rights to participate in the future earnings of a corporate enterprise.

When I went to school crypto sounds like something whose value is dependent upon "the bigger fool theory." As long as you can find others who accept it, it keeps going. If they stop accepting it, it's a marker on a computer server.

That's not much different from holding money issued by a broken bank in the 19th century or The Confederate States of America just after the Civil War.

 

As they used to say in my old neighborhood years ago. It ain't no thang! Buying opportunity for some, not for me but some will buy! Damn, $1697 yep a definite opportunity to buy!

 

Love the color of your car!

 

I drove my car in the rain today to wash it. Living off a gravel road changed keeping my car clean.

 

Have you checked what silver and gold were doing overseas this evening?

If you're holding a lot of either, don't.

(Gold dropped briefly under $1700, silver under $23...)

 

Its going down :I

 

We just got an updated jobs report and it looks pretty good 5.9 to 5.4 percent
hopefully the will have a positive affect on all the PM,S.

 

As Keynes famously said: "The market can stay irrational longer than you or I can stay solvent."

 

There was a "Flash Crash" with gold. Dropped $100 today from Friday's close.

Down $22 as I type to about $1,740.

 

Looks to me like a fair time to buy, as not seen in recent months.

 

Government report, ADP report.....real world everywhere I look there is a shortage of folks in key trades/professions. I work in engineering and we can't find enough qualified folks - and the folks we do have are getting poached with extreme offers. Extending this to skilled construction folks - you can't find any to hire.

 

One thing the pandemic did was speed up retirement for many skilled workers. Me, I'm a skilled retiree. I'm skilled at doing nothing.

 

QUOTE="crazyd, post: 7816602, member: 67221"]Government report, ADP report.....real world everywhere I look there is a shortage of folks in key trades/professions. I work in engineering and we can't find enough qualified folks - and the folks we do have are getting poached with extreme offers. Extending this to skilled construction folks - you can't find any to hire.[/QUOTE]

Where I worked in engineering, many "older" workers were targeted for attrition, in favor of cheap H1B engineers. These "engineers" couldn't change a burned out tail light bulb.

If there's a shortage of engineers, then maybe our education system isn't working?

 

I think I catch your point, I was skilled in many trades, as well as engineering.

I'm now skilled at doing nothing, and trying to make the best of it...

Reminds me of Obsolete Man from Twilight Zone.