Why most people buy PMs for the wrong reasons...

Not a secret anymore. You're welcome.

"Did You Know?
Someone feckless is lacking in feck. And what, you may ask, is feck? Feck is a Scots term that means "effect" or "majority" and comes from an alteration of the Middle English effect. So something without feck is without effect, or ineffective. In the past, feckful (meaning "efficient," "sturdy," or "powerful") made an occasional appearance. But in this case, the weak has outlived the strong: feckless is a commonly used English word, but feckful has fallen out of use."

 

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Gee if this was Groucho Marx's old TV show, the word would have come down from the ceiling on a string.

 

as an academic (and working, though not primary) economist myself I know that people use money as a predicate of how they live their life. People tend to use money to buy things.
If they have spare cash they may buy PMs, or a jetski/ motorcycle/ beer.

Federal banks cannot dictate people of what currency they use and store their reserves in. In some countries people prefer the USD (or silver, gold, and who knows maybe plutonium) instead of their local currency, so much for their FED.

But the form of exchange of services dictates the currency, whether with a person or with a bank. After all, our banks will accept Canadian currency. Around here they actual value a canadian quarter as 25 US cents, as with their other Canadian metal based coins. Paper money though is not traded at all.

But as long as people live, money (in any form) will be center to what they do. That is, as long as other people require money for their services and products.
If everything was free then that would be another thing, but I don't see Utopia (or ideolistic Communism?) around here any time soon. But as long as people value their own service to society as varying "worth" compared to other services then there will be some form of valuation and thus money (or varying barter) to be exchanged.

Now Groucho Marx can drop the sign from above for Ideolistic Communism ... or was that Karl Marx? Oh well ...

back to PMs .... is it going up or down today based on the Jobs Report ...

 

What region are you in that 25-cent Canadian pieces can be deposited at the same rate as 25-cents US?

 

Yes, really. Not in southeast Pennsylvania, and that's for certain! Are you, Clawcoins, in Dixville Notch, NH? Niagara Falls, NY? Detroit?

 

Yes, you don't need to be here to be insulted; with an intellectual base like yours, you can go anywhere to be insulted.

 

Metals are basically flat this morning.

 

So then they've already been rolled out, right?

 

You're partially right. The way Keynesian critics do it, it's not a science. It's only a science if it's done correctly.

 

Yes, Detroit area.
I'm north of Canada actually. And South, and West of Canada.

Yes, I've contemplated getting a bunch of CDN quarters at exchange rate and depositing them. But I'm sure the banks would then convert them if you dropped off a hoard. Otherwise a few here and there doesn't matter to them. They'll give them as change at banks too.

During the weekends tons of Canadian cars are seen at the malls, Costsco's, SAM's clubs, etc in the area. So a lot of coinage seems to be distributed.

 

Never did I say I was leaving because of insults. Believe me, you are the LAST person who could say something that I would consider an insult. You see, I consider the source.

As for my intellectual base, I'll outperform you EVERY day of the week, month, year, . . .

I'm done. At least until your next obnoxious comeback.

 

Cool stuff. I've seen coins change at par artificially as far back as Expo '67 and even a bit before, in border areas. Doing the exchange rate shuffle is more trouble than it's worth. Both are needed regularly throughout border areas. One example I remember was a cash-operated firewood dispenser in Glacier National Park issuing Canadian quarters in change.

 

Over the years, many have tried, better than you have. Most go down in flames. I beat licensed lawyers in court, and I'm not one.

 

Yes imagine some small store, restaurant, etc combing through all the change given at the register and then having to do a conversion, especially for a penny or two. It would be maddening to the people wanting to cash out.

 

Of course you did. You're a legend in YOUR OWN mind. . .

 

No offense intended to you or others.... Only Kurt! (lol) Just kidding Kurt, seems your heart is in the right place mostly.

Economists certainly have a place in an "economy". It's the ones that feel entitled to "steal" (inflate) in the name of (social) science that lose my support. Dropping interest rates to zero and coercing everyone to "invest" in their paper markets, borrow more "IOUs" or spend their savings? With their track record no less. How many people lost their homes and life savings to the latest (housing) "bubble"? Millions. No thanks!

Their track record stands as a glaring example of their lack of understanding or ability to control the economy or something worse.

I save in bullion because the "experts" can't print it up and (feckless (lol) insults aside, I feel confident.

 

DUNK and Dan,

I bring this over from another thread you might not be watching. In it, I admit you are halfway (1/3 way?) onto something:

1934 Wreath Crown said: ↑
Is it because the Nordic countries have some of the highest per capita national debt levels? They therefore need to ensure maximum and efficient tax collection to sustain debt payments. Do away with cash you do away with most if not all transactions outside of the tax net.

I said:
And what part of that doesn't sound like our domestic future? Look, the gold bugs have half a point. If we don't have the national will to push economic growth at all costs, and we also don't have the national fortitude to much more highly tax very high personal incomes, then yes, we have to inflate our way out of it. I just don't accept the fact that only the 3rd option is out there.

So what I'm saying is there are 3 options, not one.
1) Go hell bent for leather on economic growth with labor needs of all types, so fewer people NEED to live off the public dole.
2) Tax the living bejabbers out of the ultra-rich, while keeping corporate taxes low.
3) Inflate the dollar.

You seem to say, whether you know it or not, that 1) and 2) are off the table. I agree 3) is the easier political lift, but the worst one for all, eventually.

 

lol. I'm not an "Economy" Economist, but a Business Economist. LOL

I say save when you want to save, and spend when you want to spend.
Do not listen to agencies of what they prefer the population to do whether they use negative interest rates, low interest rates or not.

Everyone's goal should be a safe for a spendable retirement as soon as possible.

PMs seems to be somewhat stable though long term volatile. Nowadays one just can't take the advice from a financial guru and park their money in one vehicle and hope it keeps going up. They have to make their own decisions of when to pull the plug and get out.

that said, I'm hoping Silver keeps going down under 14 again but it's up 15 cents right now.

 

And I am utterly unconcerned with micro/personal economics, and act almost exclusively in MACRO-economics. Of course the best personal action is to save prudently, but it is a weight on aggregate incomes. The best possible world is "you save, everybody else spends". And that works right up until they take up arms. At what point do they do that? Based on what I'm reading, it MAY happen metaphorically on some Tuesday soon.

 

at least with your saved money .. you'll be able to bribe yourself out of situations as no one else will have money.

fyi, I'm a business economist