Title: Costco SELLS OUT Of Gold Bars, People Are Preparing For ECONOMIC COLLAPSE Source:
TimCast IRL URL Source:https://www.youtube.com/watch?v=XfiH7JqSSn4 Published:Sep 29, 2023 Author:Tim Pool Post Date:2023-09-29 15:02:24 by Esso Keywords:None Views:1623 Comments:41
Poster Comment:
I'm not sure that PMs are the thing to be buying right now. They've been stuck in a narrow range forever and haven't tracked inflation at all. Gold should be over $4,000 now. After Bidet did that thing with Venmo (or whatever it was) making any transaction reportable to the IRS above $600, there's no reason to believe that he wouldn't do that with PMs.
If the shit hits the fan, I doubt my local coin dealer Solly would be around in a civil war type scenario. Shipping PMs is a hassle and expensive as hell to insure it.
IMHO, silver would be a better bet now. At $22/oz, it has some utilitarian value for trade and IMO has more upside potential to hold. How often do you buy something for $1,800 per whack? My mechanic, Chip, notwithstanding.
FWIW, Costco's prices were about the same as Apmex when I checked yesterday. It wasn't a deal.
I'm not sure what people are thinking. That playing games with the cashback on a credit card is some real cheesedick loser shit. I'd be more worried about food and water and how the hell I'm gonna flush my toilets if I was Mr. Average Citizen.
They did this in the 80’s and again in the 2000’s just about the time they had the first bailout in 2007. I remember it all too well, as I was on the cusp of buying a house, but lacked the money to do so, by the time the bailout had done its damage, I was able to buy a house due to the aftermath. When I see people stacking metal, that’s not exactly a good or smart thing for the uninitiated. They are thinking they are going to pay interest on an asset, and flip it for bigger money. Wrong. If anything all it will do is raise your credit card balance because the people buying gold will be buying at THEIR price, much like they are also selling it at THEIR price.
Rare is it that you buy gold or silver at a decent price. You pay market value, plus whatever fees on top of that, hoping that one day that the price of that metal will be worth more than what you paid for it. Gold is about to be devalued yet again, along with silver, because there is a huge push for the electronic currency thanks to morons who helped build their own electronic prisons.
When I see people stacking metal, that’s not exactly a good or smart thing for the uninitiated.
When I went in during the last financial crisis, I went in pretty hard at $900 and $9, about 500k now, which has been stuck forever. I doubled my money in 10+ years, not a great investment.
My local dealer Solly (a Jew) has always treated me more than fairly on selling.
People like me until I shoot them in the face. Married gals really like me. Maybe it's because I'm a bad boy. When the sign says stay off the grass, I do.
Gold is about to be devalued yet again, along with silver, because there is a huge push for the electronic currency
That's an interesting thought. I can see how government-imposed digital currencies could reduce the demand for gold and silver, as buying it might be too difficult or even risky. On the other hand, in CBDC world, where paper dollars are designedly worthless, gold and silver might gain more luster as the only real money. Could go either way?