US Budget Deficit Increases

Discussion in 'Bullion Investing' started by Santinidollar, Oct 15, 2018.

  1. losthomer

    losthomer Active Member

    "It cannot last indefinitely."

    I have been thinking about this. Will gen x and milleniels have any interest in PMs? I think demand will decrease with future generations and PMs will lose more of their luster.

    But, if you're going to buy, now is a good time. Gotta spend the money on something.
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  3. baseball21

    baseball21 Well-Known Member

    Some bullion seller probably. That statement wasn't actually true
    chrisild likes this.
  4. Christie21

    Christie21 Member

    - edited -

    Note to moderator: this is from a government website (Senate Committee on Budget). Not a partisan outlet. It is related to topic of thread. No need to delete again.
    Last edited by a moderator: Oct 17, 2018
  5. medoraman

    medoraman Supporter! Supporter

    Yeah but......

    Posting any political spin of an article, (either side), will quickly become politics. Both parties have assertions, talking points, etc. I would not post anything other than facts, like the actual deficit, not political spin on those facts.
    Last edited by a moderator: Oct 17, 2018
  6. wxcoin

    wxcoin Getting no respect for 63 years

    More like TP and a wet wipe.
    Dave Waterstraat likes this.
  7. Christie21

    Christie21 Member

    There is no spin. These are numbers as reported by the Senate Committee on Budget (see .gov extension in domain).
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    The title of the report is politically motivated. It also reveals the short-sightedness of whoever penned it. If you need an explanation, feel free to PM me.

    In the meantime, I will remove it once again . . .
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Okay, that might make you a better politician.
    wxcoin likes this.
  10. GoldBug999

    GoldBug999 Active Member

    Create $21T in new dollars to send to all the investors holding U.S. debt. There would then be double the amount of dollars, all backed by the Federal Reserve, a private bank, that would then collapse. The Creature from Jekyll Island was born in 1913, and is getting old.
  11. mikem2000

    mikem2000 Lost Cause

    Just a quick point on Premiums. I know you have always touted the benefits of Gov issue (Maples, ASE's etc.) but they are just too costly. For anyone who truly wants to hoard Silver AND hopefully make a profit, brand name 100 oz. bars seem to be the way to go. You can get them for 50-60 cents /per oz. above spot, so this sort of makes the premium issue disappear. Your thoughts....
  12. mikem2000

    mikem2000 Lost Cause

  13. medoraman

    medoraman Supporter! Supporter

    I have never been very willing to pay high premiums, but the truth is that when you go to sell, the spread between bars and govt issued bullion tends to stay intact. Buyers discount bars more severely versus spot than govt issued bullion, since bars have higher risks associated with buying them and knowing they are pure, good silver. So the premium for coins is not thrown away money, it is money that tends to stay intact in the buy/sell spread.

    One could argue to buy bars, since any premium for gov't coins is money not buying more bullion, and that is why to buy bars. Maybe this is a valid point, but it has to assume it is large enough to be a concern and a buyer of just bar silver can easily be found.

    My "solution", (really maybe just a lazy hoarders answer), is diversity but concentrating on premiums. I will buy world silver, US junk silver, or gov't issued .9999 depending on the premium demanded. Mostly its junk US silver, and one could argue I buy world silver for "collecting" fun. However, I have bought ASEs when the premiums are very cheap, (way less than $1 a coin), and others like maple leaves at spot. For those prices, the modern is the best value, but if they want $2 premium for ASE and junk at spot, I buy junk. For world junk I never pay over spot, but can be tempted to buy at spot if I like a lot of coins in there. I do own some bars, old cast bars like Engelhard that I bought just because I like the look of them. I do not consider them "bullion" in my sense of the word because I paid a premium for them. Since I paid a premium, I consider them "hobby" coins and buy them with throwaway "hobby" money.

    Investing is investing, (cold, calculating, and not concerned with "pretty"), and hobby is hobby, (jeez that is a pretty thing I will throw away this money I have budgeted to waste on pretty things I want to own). This is where people get into trouble NEVER commingle the two. Most people commingle these two, and basically waste money on "pretty" bullion, thereby minimizing any potential profit. If it is a choice between buying a stock and investing in bullion, you have to ruthlessly get the best bullion deal you can. If you think its pretty, then fine, buy it as a hobby but NEVER take money out of your brokerage account to afford a pretty "hobby" coin.

    Is any of this "right", heck I don't know. It is simply my reaction to buy/sell spreads I have seen, and the fact I like owning smaller quantities of silver than 100 or 1000 ounces bricks, as again it gives me diversity in selling. Way more potential buyers of junk silver or individual ASEs in the future than a huge doorstop bar. Diversity may not save you, but it usually does not hurt you and simply gives you more options, which is always good.

    For gold I never buy fractional unless it is the same price as the one ounce. Fractional premiums are a whole other animal, and those premiums you WILL almost always lose when selling. So I always refuse to pay fractional premiums and if necessary wait until whole units can be purchased before doing so. Same is true of any PM, NEVER buy fractional ounces because the premiums will destroy your returns. Only buy them at identical premiums PER OUNCE as whole units.
    Last edited: Oct 17, 2018
    mkan20 and mikem2000 like this.
  14. ToughCOINS

    ToughCOINS Dealer Member Moderator

    You may think bars are a better deal, but because there is less demand for them they fetch less when you sell back to dealers. All in all, I'm not sure there's a significant difference in total cost of ownership.
    mikem2000 likes this.
  15. Christie21

    Christie21 Member

    The title of the report is not politically motivated. It comes from the Senate Committee on Budget. Why are you having a hard time understanding that? Could it be that you are reading it as something that is politically motivated? All it does is factually report that policies Edited: have increased the deficit. Why are you so defensive about that?

    Different moderator but same reasoning. As edited it gives the facts with out getting political. It seems to me that by repetitively insisting on putting it in is showing your political motivation. The rules are to prevent any discussion running off the rails as they tend to do. We lose people who are drawn into it ( of all parties) and we do not want that. The sister website was started by Peter for the areas of discussion this forum doesn't allow. Thank you, Jim
    Last edited by a moderator: Oct 18, 2018
  16. GoldBug999

    GoldBug999 Active Member

    Note to moderators: Thank you for keeping the forum free of politics - it is refreshing!
    Randy Abercrombie and medoraman like this.
  17. medoraman

    medoraman Supporter! Supporter

    Christie, I do not know if you are just a political activist or truly do not understand. I will assume you do not understand and I will make an attempt, (though I might be silly and you maybe not really care because you want to be political).

    The headline you posted was on a government website, but it was from the Democratic Party. It was NOT an official conclusion of a governmental agency or any such thing, it was strictly the Democrats VERSION of the truth. Their conclusion most assuredly would be very different from what the Republicans would say. Both parties can post on .gov websites what their version of the "truth" is.

    Is either party right? No way at all to know. Either side could be right, could be wrong, or both partly right. That is politics to take sides. So bottom line you posted one party's VERSION of a story, and not the other party's VERSION, so your post was one sided and partisan. That is why is was deleted. Hope that helps.
  18. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Most on CoinTalk seem genuinely concerned about our indebtedness, But there are some who almost seem to be cheerleaders for a failure of the US dollar. Continuing to accept debasement (inflation), or even default as the eventual outcome is an unacceptable position . . . A coward's escape.

    We owe it to our descendants to be honest with ourselves about how much debt we are carrying, and resolve to establish a systematic way of paying it down. Why systematically? Because if not, we'll always consider debt repayment to be optional, and never do it. Much the same as our representatives kicking the can down the road for others to deal with problems they get paid to deal with.

    As for the cheerleaders, it's okay to profit on the current weakness of the dollar, but it is wrong to wish for the demise of the dollar to enrich ourselves at the expense of others.
    Last edited: Oct 20, 2018
    midas1, wxcoin and green18 like this.
  19. wxcoin

    wxcoin Getting no respect for 63 years

    I couldn't agree with you more. At some point in time (hopefully later than sooner) my days on this small rock in the universe will be over. I'd be selfish not caring about those who continue on after that. We somehow need to pay down the debt that my generation is mostly responsible for.
    midas1 likes this.
  20. longnine009

    longnine009 Most Exalted Excellency

    This is great news. Let's all make a list of the sacrifices we're willing to make in order to have a balanced budget and pay down the debt.

    I don't have any descendants. Nevertheless I have been compelled since 1972 to "invest" in their future. I don't owe anyone squat.
    CasualAg$ likes this.
  21. baseball21

    baseball21 Well-Known Member

    The US dollar isn’t going to fail in anyone’s lifetime that is alive now. Debts don’t matter military power does, always has always will. Many countries rely on the US military so they don’t have to have a legit one. As long as that strength is there it doesn’t matter.

    It doesn’t mean blow it out like a drunkard spending wise but there’s a reason why it’s gotten to where it has and not mattered. If we dismantle the military it’ll matter very quickly. There’s 2000 plus years of data supporting this. Also the fact Europe’s debt was forgiven after world war 2 just is what would happen if necessary with us right now.
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