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Do not buy gold or silver, buy this instead

Discussion in 'Financial Cents' started by oil pan 4, Jul 13, 2016.


  1. Cruisin Sloth

    Cruisin Sloth Special & Slow



    NAW , don't buy !! Let the .GOV from all over IS !! WHY ?? WTF
     
  2. Big Ron

    Big Ron Monkey++

    I think investing in Chickens makes more sense. Maybe silver in small amounts is a good idea. I have fond memories of a past employer who would give me a silver coin besides my pay when he was happy about the money I was making him. I always picture people with lots of Gold getting killed over it.
     
    Gator 45/70 likes this.
  3. oil pan 4

    oil pan 4 Monkey+++

    When people are hungry you could get killed over a bunch of chickens easier than gold.
    Gold at least can be hiden, doesn't need to be fed, not talked about, seen, smelt or heard.
     
    Cruisin Sloth and Gator 45/70 like this.
  4. oil pan 4

    oil pan 4 Monkey+++

    I hope no one bought any gold.
    I think buying toilet paper and using it will be a much better investment.

    Silver is still kind of in the shitter, not a horrible buy.
     
    Ganado and Gator 45/70 like this.
  5. oil pan 4

    oil pan 4 Monkey+++

    Silver just dumped $3 an ounce and platinum is probably headed for a 10 year low.
     
    Gator 45/70 likes this.
  6. Ganado

    Ganado Monkey+++

    any speculation as to why is dropped?
     
    Gator 45/70 likes this.
  7. oil pan 4

    oil pan 4 Monkey+++

    They are heavy used industrial metals so worries about the world economy slowing down and people sold physical metal to buy stocks.
    Palladium lost like $500 an ounce too.
     
    Gator 45/70 and mysterymet like this.
  8. oil pan 4

    oil pan 4 Monkey+++

    Oh and don't forget about fuel.
    Gas and diesel prices are down.
    Propane may drop too. We have had an over supply of propane for a while now, don't know how much lower they can go.
     
    Gator 45/70 likes this.
  9. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Traders are having to sell to cover shorts that they got caught with the shorts down on. Oh and wanting to have cash instead of stocks as they were/are/will again head for the crapper until the supply chains get stabilized.
     
    Gator 45/70 likes this.
  10. oil pan 4

    oil pan 4 Monkey+++

    If it gets much worse look for dealer panic selling.
    Let's say they bought a shit load of silver at 15 dollars an ounce because it looked like a good move. The price goes up some for a bit, but then turns around and goes down.
    If you are a dealer do you sell it fast and break even or take a minor loss or just sell it normally and potentially get stuck selling that silver for $11 an ounce, which would be a pretty substantial loss.
     
    Gator 45/70 likes this.
  11. oil pan 4

    oil pan 4 Monkey+++

    Massive pm sell off this week. I'm cashing in my 401k.
     
    Gator 45/70 likes this.
  12. oil pan 4

    oil pan 4 Monkey+++

    Well I had to take out a loan.
    They changed rules on me.
    Last year when I set up my retirement account to do withdrawals/loans to my checking account I went thought all the steps until I had to click "submit" lock in a withdrawal.
    Now I have have to show "proof of hardship" to do a withdrawal. This is bullshit.
     
    Gator 45/70 likes this.
  13. oil pan 4

    oil pan 4 Monkey+++

    It is bull shit and if I knew about it beforehand I would have sounded the alarm and emptied my accounts out last year.
    This is government further restricting what people can do with their money.
    I was keeping it in the 401k until I found a better opportunity.

    Don't know if TSP is in the same boat.
     
    Gator 45/70 likes this.
  14. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Were you at least out of stocks into money market or treasuries? Please don't say you were 50%+ in stocks
     
    Gator 45/70 likes this.
  15. oil pan 4

    oil pan 4 Monkey+++

    I was in stocks until the market went down like 700 points that first day and changed over to safe stuff.
    Did good in 2019 and made about 2.5% for 2020.
    I put TSP back in F fund as soon as I heard "new virus in china".
     
    Gator 45/70 likes this.
  16. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I got this from my dealer this morning.
    ...
    Gold and Silver premiums have gone up as the price has fallen.. We do not control the premiums or availability.
    This is what you can expect..
    Generic Silver: Spot + $3.25 or more
    American Silver Eagles: Spot + $5.50 or more
    Canadian Silver: Spot + $3.75 or more
    ...

    ouch.
    Also, delivery is out 3 weeks or more.

    Dillion & Gage and AMARK are out of product.
     
    Idahoser and Gator 45/70 like this.
  17. oil pan 4

    oil pan 4 Monkey+++

    On the Internet spot fees for silver are still easily $7 to $10 per bar for just random 2nd hand no thrills bars. Must be plenty of people still buying on line. None of the big dealers seem worried yet. Will check my local gold and silver shop.
    Even with the spot price this low I was paying less overall for it with spot prices were at 14 and 15 dollars per ounce.
     
    Gator 45/70 likes this.
  18. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Do they even have stock?
     
    Gator 45/70 likes this.
  19. oil pan 4

    oil pan 4 Monkey+++

    On ebay they do.
    But I'm not paying $7 an ounce or more spot fee on bars. That's just retarded.
     
    Gator 45/70 likes this.
  20. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    lol, did you see their estimated delivery date? I'm going to bet it's out to mid-april. They say they'll have limited stock and to order soon but look at their estimated delivery. The wholesalers are basically out.

    And I'm just like you, not going to pay 7+ spot on a 10 oz bar either.

    should make the miners happy as demand is through the roof.
     
    Gator 45/70 likes this.
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