AuthorTopic: Gold & Silver News  (Read 335201 times)

Offline Golden Oxen

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Gold & Silver News - Da Vinci’s Salvator Mundi Sells for Record $450 Million
« Reply #2115 on: November 16, 2017, 03:43:16 AM »
Where's the inflation GO ask the Dim?  :icon_scratch:

                     

Leonardo da Vinci’s 500-year-old painting known as Salvator Mundi (Saviour of the World) is the only work in private hands. It just sold at Christie’s auction room in New York for a record $450m – almost half-billion. The painting apparently once belonged to King Charles I of England back in the 1600s. The last time it was sold at auction was 1958 when it was sold in London for a mere £45. At that time, it was generally believed to have been the work of a follower of Leonardo rather than the work of Leonardo himself.

The painting was sold by the family trust of the Russian billionaire collector Dmitry E Rybolovlev, who is reported to have bought it in a private sale in May 2013 for $127.5m. So that’s a pretty good profit. It is the highest auction price ever paid for any work of art.  There are fewer than 20 of Leonardo paintings in existence. The Salvator Mundi, is believed to have been painted sometime after 1505. The bidding began at $100m and the final bid for the work was $400m, with the buyer’s premium, the full price up to $450.3m. The unidentified buyer was involved in a bidding contest, via telephone, that lasted nearly 20 minutes. The mystery buyer hopefully lives outside of New York so that avoids the sales tax. Purchases above $110 are subject to a 4.5% New York City Sales Tax and a 4% NY State Sales Tax. That makes anything bought in New York City subject to a total Sales and Use Tax of 8.875%. What is astonishing, is that with taxes, rates rise with the more people. That is counter to capitalism which dictates that prices decline with scale. Government costs rise with the scale showing something is just not right!

Obviously, this is serious money still moving off the grid!

https://www.armstrongeconomics.com/world-news/taxes/leonardo-da-vincis-salvator-mundi-sells-for-record-450m/ :icon_study: :icon_study:  :WTF:

                                       

 
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Offline Golden Oxen

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Re: Gold & Silver News - The Downright Sinsister Rearrangement of Riches
« Reply #2116 on: November 16, 2017, 04:16:28 AM »

economicprism.com
The Downright Sinsister Rearrangement of Riches


Let’s begin with facts.  Cold hard unadorned facts.

Water boils at 212 degrees Fahrenheit at standard atmospheric pressure.  Squaring the circle using a compass and straightedge is impossible.  The sun is a star.

Facts, of course, must not be confused with opinions, which are based upon observations.  Barack Obama throws like a girl.  The Federal Register is for idiots.  Two slices of chocolate cake are one too many.  Are these opinions right or wrong?

The answer depends on who you ask.  What’s certain about opinions, however, is that like bellybuttons, everybody has one.  Moreover, unlike free drugs from the government, everyone is in fact entitled to their own opinion.

Moving on from facts and opinions, the next classification we encounter is the wholly asinine.  This broadly contains the absurd and ridiculous.  Take most university teachers, barring physical science professors, for instance.  They’re wholly asinine.  The wholly asinine also extends to editors at the New York Times, Washington Post, circus hunchbacks, and the like.

Lastly, we want to mention the downright sinister.  This includes sociopaths like Hillary Rodham Clinton, John McCain, nearly all of Congress, the Federal Reserve, fractional reserve banking, Washington lobbyists, a good part of Wall Street, and much, much more.  Clearly, such people and professions don’t represent honest work.  Rather, they epitomize less than honest work that’s performed by less than honest people.
Nixon Casts the Die

From this point forward, the weight of today’s reflection falls squarely on the shady shoulders of the downright sinister.  But within this category, we dig deeper and uncover a certain subcategory: grand larceny.  Namely, we want to better understand the incessant pilfering going on about us.  Where to begin?

When Tricky Dick Nixon closed the gold window in 1971, severing the last tether holding the money supply in orbit, the national debt was under $400 billion.  Today it’s over $20 trillion.  What’s more, it’s now common for a single year’s budget deficit to top $1 trillion.

But it’s not just government debt that has drifted into deep space due to the Federal Reserve’s ability to issue limitless credit.  Corporate and consumer debt has also drifted out of orbit.  Since 1971, nonfinancial corporate debt has increased over 3,200 percent.  And consumer debt is now at a record high of $12.8 trillion.

However, while public and private debt has radically increased, and the money supply has radically inflated, economic growth has lagged.  Certainly, one would expect this radical money supply inflation and debt growth to show up in consumer prices.  Yet somehow consumer prices are always reported as being nearly flat.

One reason for this is that the government’s statisticians at the Bureau of Labor Statistics have made a fine art of subtracting price inflation from their monthly propaganda reports.  Hedonic price adjustments.  Price deflators.  Seasonal adjustments.  These all serve to mask the rate of consumer price inflation and to conceal the effects of the Federal Reserve’s ongoing currency debasement program.

Specifically, these various adjustments and deflators paint an incomplete picture of what’s going on.  For what good is it if you can get a really powerful laptop computer for $500 and a new pair of jeans for $20, when half your paycheck goes to pay the rent and another quarter of it goes to cover medical insurance and transportation costs?  In addition, it has become near impossible to get a college education without going tens of thousands of dollars into debt.
The Downright Sinister Rearrangement of Riches

The discrepancy between low cost consumable goods and living, transportation, medical, and education costs illustrate the true effects of the government’s incessant pilfering of the wage earner, student debtor, and fixed income retiree.

Those who’ve never scratched below the surface to take a closer look at what’s going on may be unclear how Nixon’s closure of the gold window has been so destructive for so many people.  This is understandable; most are unable to diagnose it.  However, the ultimate effect of these actions, including debt servitude, has been demonstrated for millennia.

Ironically, John Maynard Keynes, the godfather of modern day economic intervention by governments, confessed to this fact.  If you didn’t know, Keynes provided one of the better explanations of the relationship between money debasement and the economy.  What follows is an excerpt of Keynes from The Economic Consequences of the Peace, written in 1919.

“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency.  By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.  By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.  The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.

“Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become “profiteers,” who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery. :'(

“Lenin was certainly right.  There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.  The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

Could there be a more accurate characterization of the present structure of systematic grand larceny?  More importantly, what should one do?

First, one should grin and bear it.  Then one should grin and bear it some more.  After that, one should buy gold.

Sincerely,

MN Gordon
for Economic Prism

https://economicprism.com/the-downright-sinister-rearrangement-of-riches/ :icon_study: :icon_study: :icon_study:

                                     
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Offline azozeo

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Texas Shifts Away From The Federal Reserve State’s New Silver Gold Bullion Depot
« Reply #2117 on: November 18, 2017, 02:18:24 PM »
https://politicalvelcraft.org/2017/11/16/texas-shifts-away-from-the-federal-reserve-states-new-silver-gold-bullion-depository/

Texas Shifts Away From The Federal Reserve: State’s New Silver Gold Bullion Depository

16 NOV 2017

BY VOLUBRJOTR

AUSTIN, Texas (Nov. 15, 2017) – The Texas Bullion Depository took a step closer becoming operational earlier this month when officials announced the location of the new facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Federal Reserve’s monopoly on money.

Gov. Greg Abbot signed legislation creating the state gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to store gold and other precious metals, the law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions. In short, a person will be able to deposit gold or silver in the depository and pay other people through electronic means or checks – in sound money.

        States Begin Eliminating Tax On Gold & Silver Money



Earlier this summer, Texas Comptroller Glenn Hegar announced Austin-based Lone Star Tangible Assets will build and operate the Texas Bullion Depository.

On Nov. 3, the company announced it will construct the facility in the city of Leander, located about 30 miles northwest of Austin. According to the Community Impact Newspaper, the Leander City Council has approved an economic development agreement with Lone Star. Construction of the depository is expected to begin in early 2018. Lone Star officials say it will take about a year to complete construction of the 60,000-square-foot secure facility located on a 10-acre campus.

The depository will operate out of Lone Star’s existing facilities during construction. It will provide services nationwide beginning in early 2018, with international services to be offered in the future phases, according to Community Impact.

    “This state-of-the-art facility will provide tremendous benefits to the citizens of Leander and will give Texans a secure facility right here in the Lone Star State where their gold and precious metals will be kept safe and close at hand,” Hegar said in the press release.

        Silver & Gold Are Physical Not Fiat: Central Bankers Would Rather Reset Into Another Fiat Contrivance Than Face Justice!

The Texas Bullion Depository has already established an online presence. You can visit the depository website HERE.

According to an article in the Star-Telegram, state officials want a facility ‘with an e-commerce component that also provides for secure physical storage for Bullion.’ Officials say plans for a depository should include online services that would let customers accept, transfer and withdraw bullion deposits and related fees.

By making gold and silver available for regular, daily transactions by the general public, the new law has the potential for wide-reaching effect.

    Professor William Greene is an expert on constitutional tender and said in a paper for the Mises Institute that when people in multiple states actually start using gold and silver instead of Federal Reserve notes, it would effectively nullify the [zionist foreign controlled] Federal Reserve and end the federal government’s monopoly on money.

    “Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do ~ will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

        How Deep State Keynesian Central Banks Have Been Creating The Next Financial Crisis
        U.S. Dollar Just Died In China & Russia: Russia’s Sberbank Begins Physical Gold Trading On Shanghai Exchange

    “As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”

        U.S. Dollar Has Declined To 1/1300 Ounce Of Gold Since 1971
        Russia & China Using Gold To Pave The Way To Economic Independence

University of Houston political science professor Brandon Rottinghaus called the development of a state gold depository a step toward independence.

    “This is another in a long line of ways to make Texas more self-reliant and less tethered to the federal government. The financial impact is small but the political impact is telling, Many conservatives are interested in returning to the gold standard and circumvent the Federal reserve in whatever small way they can.”

The Texas gold depository will create a mechanism to challenge the federal government’s monopoly on money and provides a blueprint for other states to follow. If the majority of states controlled their own supply of gold, it could conceivably make the [zionist foreign controlled] Federal Reserve completely irrelevant.

State bullion depositories are one of four steps states can take to help bring down the Fed.

        Idaho Pass Bills To Remove “Capital Gains Taxes” On Gold & Silver
        Arizona Governor Signs Bill Nullifying Capital Gains Taxes On Legal Tender Of Gold And Silver: Legalizing The United States Constitution

Tenth Amendment Center




Offline Golden Oxen

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Re: Gold & Silver News - Waiting for the Avalanche - James Rickards
« Reply #2118 on: November 29, 2017, 05:49:17 AM »
It's snowing. :-\

dailyreckoning.com
Waiting for the Avalanche - The Daily Reckoning
James Rickards



I’ve often compared the causes of financial crises to snowflakes that can trigger an avalanche. A massive amount of snow can accumulate before that one final snowflake comes along to start the chain reaction.

The climbers and skiers at risk can never know when an avalanche will start or which snowflake will cause it.

But it helps to know what to look for. Let’s look at three of the most likely snowflakes that could trigger the next financial crisis, all of which are likely in my view. These are by no means farfetched.

Snowflake #1: Credit Crisis in China: China, believe it or not, is in more of a credit bubble than the United States. The United States has got lots and lots of problems. But China is actually much worse — and they don’t have as much experience with this type of credit bubble.

I believe they’re naïve about how bad this can get. They’re over relying on the ability of Communist Party officials to keep a lid on it. I was out in the countryside south of Nanjing not too long ago, visiting some of China’s famous ghost cities.

I was with some Communist Party officials and provincial officials who were behind it all. Everything I saw, construction as far as the eye can see, magnificent in scope, was all empty. I’ve seen it firsthand.

I turned to one of these officials and said, “This is all debt finance. This is all empty, so you have no revenue to pay the debt. So how are you gonna pay the debt?” And he said, “Oh, we can’t. But Beijing’s going to bail us out.” Not we hope Beijing will bail us out — but Beijing will bail us out.

That isn’t an isolated viewpoint. It’s widespread.

But Beijing has its own problems. Whether it’s wealth management products, shadow banking, real estate finance, crony capitalism of the worst kind, flight capital, oligarchs taking all they can and then funneling it out to Vancouver and Australia and Park Avenue, etc., the problems can no longer be papered over.

This has all been happening on a massive scale. It’s going to collapse. But China doesn’t really know how to deal with it.

Snowflake #2: Failure to deliver gold: This is almost definitely coming. So much of the gold market is “paper gold.” This paper gold market is so manipulated, we no longer have to speculate about it. It’s very well documented. But it all rests on a tiny base of physical gold. I describe the market as an inverted period with a little bit of gold at the bottom and a big inverted pyramid of paper gold resting on top.

The [available amount of] physical gold is getting smaller, which surprises many people. The might say, “Gee, there’s 2,000 tons of mining output per year, and the gold that exists doesn’t go anywhere, so why isn’t that little brick getting bigger instead of smaller?”

And the answer is you have to distinguish between the total supply and the “floating supply.” The total supply gets bigger every year by about 2,000 tons. People don’t throw gold to the bottom of the sea. They don’t blow it up with explosives. They hoard it. And so all that gold’s still around, and new gold keeps coming into the system.

Yes, the total supply grows every year, and when they move gold bars from a warehouse in London to the Chinese warehouse in Shanghai, the impact on the total supply is zero. But the floating supply shrinks. Now, what do I mean by the floating supply? The floating supply is the physical gold that is available [to back] paper transactions.

When you take gold from a London warehouse and put it in Shanghai, for example, there’s no impact on the total supply. But you have shrunk the floating supply. I’ve seen this firsthand. I was in Switzerland not long ago, and I met with one of the big four “secure logistics” firms in the world. These are the people that handle the actual physical metal.

They’re building vaults as fast as they can. They’ve been negotiating with the Swiss Army. Over the years, the army’s hollowed out some of these mountains in the Alps to build these extensive warehouses and storage facilities and tunnels that will withstand nuclear attack.

So these vault contractors have been in negotiation to lease the mountains — these nuclear bomb-proof mountains — from the army. My source told me, “We’re building vault space as fast as we can. But we’re running out of capacity.”

I asked, “Where’s the gold coming from?”

He said, “UBS and Deutsche Bank and Credit Suisse, and customers are taking it out of the banks and giving it to us.”
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Now there’s another example where the total supply is unchanged, but the floating supply is reduced.

These logistics firms keep the physical gold. Bullion banks like UBS, on the other hand, take physical gold and sell it 10 times over. That means there are ten claims for every ounce of physical gold.

So how does this end?

Someday, probably sooner than later, somebody is going to show up and say, “I want my gold, please,” and the custodian won’t be able to give it to them.

What if a major institution wants its gold but can’t get it?

That would be a shock wave. It would set off panic buying in gold, and inflation expectations — now subdued — could spiral out of control.

Snowflake #3: A geopolitical shock: People yawn and say, “Gee, haven’t we had enough of those lately?” The stock market keeps on going higher, no what seems to happen in the world. But that’s only true — until it isn’t. The fact is, things could easily spin out of control. And then everyone will wonder how they missed it.

When a rogue North Korea builds a nuclear program capable of targeting the world’s sole superpower, that’s a snowflake. When China asserts territorial dominion over the South China Sea that pits it against key U.S. allies, that’s a snowflake. When Saudi Arabia is roiled by internal strife and seems on a collision course with Iran throughout the entire Middle East, that’s a snowflake.

I make the point that a snowflake can cause an avalanche. But of course not every snowflake does. Most snowflakes fall harmlessly, except that they make the ultimate avalanche worse because they’re building up the snowpack. And when one of them hits the wrong way, it could spin out of control.

The way to think about it is that the triggering snowflake might not look much different from the harmless snowflake that preceded it. It’s just that it hit the system at the wrong time, at the wrong place.

To switch metaphors, it’s like the straw that breaks the camel’s back. You can’t tell in advance which straw will trigger the collapse. It only becomes obvious afterwards. But that doesn’t mean you can’t have a good idea when the threat can no longer be ignored.

The system is getting more and more unstable, and it might not take that much to trigger the avalanche.

These are the three snowflakes to watch for: Chinese credit collapse, failure to deliver gold, and the geopolitical shock. And any one of them could start this cascade that I’ve described.

I should add the Federal Reserve. It’s now attempting something it’s never tried before: to raise interest rates while reducing its balance sheet at the same time. Why should anyone believe it’ll be able to thread that needle? One false step could trigger an event.

To top it all off, we’ll have a new Fed chairman in just over two months, Jerome Powell. We’ll have to see if he’s up for the job.

My advice is to prepare now for the avalanche, before it’s too late.

Regards,

Jim Rickards
for The Daily Reckoning

https://dailyreckoning.com/waiting-for-the-avalanche/ :icon_study: :icon_study: :icon_study:


                                 
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Offline Golden Oxen

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Re: Gold & Silver News - Massive Breakout in Gold, Dollar Crashing.
« Reply #2119 on: January 24, 2018, 03:51:56 AM »
Big doings in the markets early this AM.

Gold up 20 bucks dollar free falls to new lows after a year long decline.

Treasury secretary Mnuchin telling the world in Davos that the dollars decline is just wonderful.

He and his trophy wife disgrace eat and travel on our dime of course, not theirs. :-\

Eddie, worried about you, hope you got back in. You were bare assed without your protector a while back.

                                             


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The protectors of the world's reserve currency at play.

                                       

                                   

What wrong with you GO? Why do you buy Gold with your dollars ask the Dim.  :icon_scratch: :icon_scratch: ::) ::)
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Offline Eddie

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Re: Gold & Silver News
« Reply #2120 on: January 24, 2018, 05:15:48 AM »
Not in the miners but I have some physical and will be adding a bit within a few days, most likely.
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Offline knarf

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Re: Gold & Silver News - Massive Breakout in Gold, Dollar Crashing.
« Reply #2121 on: January 24, 2018, 05:42:14 AM »
Big doings in the markets early this AM.

Gold up 20 bucks dollar free falls to new lows after a year long decline.

Treasury secretary Mnuchin telling the world in Davos that the dollars decline is just wonderful.

He and his trophy wife disgrace eat and travel on our dime of course, not theirs. :-\

Eddie, worried about you, hope you got back in. You were bare assed without your protector a while back.

                                             


                                                      "GOLD WILL WIN"




The protectors of the world's reserve currency at play.

                                       

                                   

What wrong with you GO? Why do you buy Gold with your dollars ask the Dim.  :icon_scratch: :icon_scratch: ::) ::)

Hi GO,
  We had a cleaning job years ago and the guy paid us with a silver dollar, then worth about $30. Ever since it has kept losing value, and is about worth $17 now. Question. Do you think it will ever regain it's value, maybe even be worth more than $30?
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2122 on: January 24, 2018, 06:12:20 AM »
Hi Knarf, While predicting markets like fortune telling is a very risky business, it is my firm belief that silver is on on its way to the 75 to 100 dollar area within a three to five year time frame.

Nothing is certain in markets of course but let me assure you I have a very substantial amount of my own money invested in that prediction where my mouth is. Silver is the metal of the future Knarf, if we are lucky enough to have one. From technology to solar energy to purification of our beloved planet's water and environment, silver is always present as a solution.

Truly a pleasure to converse with you. Stop being the silent diner please. Your postings over and above your news items about your personal views and life in the monastery were exemplary and most interesting.                                                                                                 Regards, GO
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2123 on: January 24, 2018, 06:16:53 AM »
Not in the miners but I have some physical and will be adding a bit within a few days, most likely.

Glad to hear you kept the physical Eddie.

It's going to be a very busy day, and the Good Lord only knows what is going to come out of the Donald's yapper at Davos.

Good luck trading Eddie, be back when the commotion dies down.
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Re: Gold & Silver News
« Reply #2124 on: January 24, 2018, 06:20:38 AM »
Hi Knarf, While predicting markets like fortune telling is a very risky business, it is my firm belief that silver is on on its way to the 75 to 100 dollar area within a three to five year time frame.

Nothing is certain in markets of course but let me assure you I have a very substantial amount of my own money invested in that prediction where my mouth is. Silver is the metal of the future Knarf, if we are lucky enough to have one. From technology to solar energy to purification of our beloved planet's water and environment, silver is always present as a solution.

Truly a pleasure to converse with you. Stop being the silent diner please. Your postings over and above your news items about your personal views and life in the monastery were exemplary and most interesting.                                                                                                 Regards, GO

 :emthup: :emthup:, expecially in re GO's comments about your contributions, knarf.

GO, somewhere on the intertoobz I saw someone predicting silver @$250. Once can always find hyperbole, so I paid it no mind. But you spend a lot of time on this subject, and if you say $75-100, that means something. Does your valuation have anything to do with dollar collapse, or is this just sheer demand, in your opinion?

Full disclaimer: I don't know a fucking thing about PMs.
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Offline Eddie

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Re: Gold & Silver News
« Reply #2125 on: January 24, 2018, 07:22:23 AM »
GO is gonna be busy for a while but I'll weigh in. There are several theses for higher silver.

The gold/silver price ratio is out of whack. Historically it's been about 15/1 but now it's about 77/1.  A mean reversion at current prices would give a silver price now of about $90 (instead of $17.50).

Paper futures markets with 100/1 leverage allow the bullion banks to put on naked shorts that frequently drive prices lower than they should be based on demand and the cost of production and scarcity and normal factors. Many knowledgable people think JPM has built a really huge physical silver position while this has been going on (for the last several years).

Futurists like JHK and others suggest the demand for silver as an industrial metal (because of solar panels) is going to go much higher, since there literally isn't enough silver in the earth's crust to build all the panels we need.

Gold price appreciation (and silver as a corollary) is certainly a function of a declining dollar. Since all currencies in the world now are fiat, gold is about the only "currency" that you can measure the dollar against with any kind of rationality, as all sovereign money everywhere is subject to the same kind of destruction as the USD.

 When the dollar dies, where will the big money go? Not dollar denominated bonds, at that point. Or any other sovereign bond, unless (as often predicted) some country manages to create a new gold backed currency (not likely, imho). The world's fiat currencies are likely to go down together. Some have strength based on fossil fuel in the ground (Norway), but oil in the ground is not a guarantee of a strong currency (see Venezuela).



« Last Edit: January 24, 2018, 08:37:59 AM by Eddie »
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2126 on: January 25, 2018, 05:59:30 AM »
GO is gonna be busy for a while but I'll weigh in. There are several theses for higher silver.

The gold/silver price ratio is out of whack. Historically it's been about 15/1 but now it's about 77/1.  A mean reversion at current prices would give a silver price now of about $90 (instead of $17.50).

Paper futures markets with 100/1 leverage allow the bullion banks to put on naked shorts that frequently drive prices lower than they should be based on demand and the cost of production and scarcity and normal factors. Many knowledgable people think JPM has built a really huge physical silver position while this has been going on (for the last several years).

Futurists like JHK and others suggest the demand for silver as an industrial metal (because of solar panels) is going to go much higher, since there literally isn't enough silver in the earth's crust to build all the panels we need.

Gold price appreciation (and silver as a corollary) is certainly a function of a declining dollar. Since all currencies in the world now are fiat, gold is about the only "currency" that you can measure the dollar against with any kind of rationality, as all sovereign money everywhere is subject to the same kind of destruction as the USD.

 When the dollar dies, where will the big money go? Not dollar denominated bonds, at that point. Or any other sovereign bond, unless (as often predicted) some country manages to create a new gold backed currency (not likely, imho). The world's fiat currencies are likely to go down together. Some have strength based on fossil fuel in the ground (Norway), but oil in the ground is not a guarantee of a strong currency (see Venezuela).

Great Job Eddie, Thanks

Yes Surly, I think that number is possible and very likely but more like a ten to fifteen year time frame.

My numbers to Knarf were very conservative as is my way when friends seek my advice.

In addition to Eddie's excellent answer may I add just a few more points for your consideration of this remarkable metal, as if the Solar reason Eddie elaborated on weren't enough.

All the worlds fresh water is or has become contaminated with everything imaginable from discarded pharmaceuticals to plastics, garbage, bacteria from sewage even uncountable tampons, ugh.
Silver rides to the rescue again as the best water purifier of all..

You have no doubt heard of Legionaire's disease caused by air conditioning bacteria building up on surfaces, as well as the dreaded Super Bugs that the world's hospitals are now inundated with.
Again Silver rides to the rescue. Kills ALL known bacteria and refuse to let it grow.

Eddie surely realizes the ease at which bacteria can be spread through medical procedures such as a simple dental session. Again Silver to the rescue.
There are states countries where laws being considered to force all dental instruments to be made of silver.

On a simpler but massive scale are you aware that the Japanese are making washing machines and dryers with silver coatings and elements to destroy bacteria in everyday wash loads?

Silvers uses in computers and flat screens as well connections is well known and growing all the time.

This is just a small sampling of the demand for this wondrous metal which is constantly growing and the to be again conservative I left out it's monetary use as Gold's helper little cousin metal for small transactions.

Luckily for folks like yourself Surly who are pondering a tip toe in investing in the metal; it's main use in industry for decades was photography. It was thought the demise of Eastman Kodak and others like Fuji with their silver haloid films being replaced by digital; they were correct at least for a few decades.

This occurrence is a godsend to modern investors to take advantage of as new markets have obviously
opened up to replace film and Xrays and will no doubt continue to do so.

I urge those with speculative funds looking for a dynamic investment to consider silver. It's called "Poor Man's Gold" for good reason. My studies of the metal have convinced me it won't be a metal for poor men much longer.


101 uses for silver in everyday life.                                               

http://www.silvercoins.com/uses-of-silver/   :icon_study: :icon_study:


                                     

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Offline Golden Oxen

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Gold & Silver News - Gold Treasure Recovered from 1857 Shipwreck to make Debut
« Reply #2127 on: January 29, 2018, 04:50:25 AM »
Gold treasure recovered from 1857 shipwreck to make debut

SANTA ANA, Calif. (AP) — More than $50 million worth of gold bars, coins and dust that's been described as the greatest lost treasure in U.S. history is about to make its public debut in California after sitting at the bottom of the ocean for more than 150 years.


                                 
Gold bars and coins from the S.S. Central America, a mail steamship, sunk in a hurricane in 1857, about 160 miles off the North Carolina coast. More than $50 million worth of gold bars, coins and dust that has sat at the bottom of the ocean since the ship it was on sunk in 1857 is about to go on public display in California. The gold was recovered in 2014 from the wreckage of the S.S. Central America steamship and is now sitting in a makeshift laboratory just south of Los Angeles.

                                 
This undated drawing made available by the Library of Congress shows the U.S. Mail ship S.S. Central America, which sank after sailing into a hurricane in September 1857 in one of the worst maritime disasters in American history; 425 people were killed and thousands of pounds of gold sank with it to the bottom of the ocean.

                                 
In this November 1989 file photo, Tommy Thompson holds a $ 50 pioneer gold piece retrieved earlier in 1989 from the wreck of the gold ship Central America. More than $50 million worth of gold bars, coins and dust that has sat at the bottom of the ocean since the ship it was on sunk in 1857 is about to go on public display in California while the deep-sea treasure hunter responsible for its discovery continues to sit in an Ohio jail. (Lon Horwedel/The Columbus Dispatch via AP, File)

January 29, 2018

The 3,100 gold coins, 45 gold bars and more than 80 pounds (36 kilograms) of gold dust recovered from the wreckage of the S.S. Central America steamship are now sitting in a makeshift laboratory just south of Los Angeles.

Bob Evans, the chief scientist on the original voyage that discovered the shipwreck and its treasure in 1988, is now painstakingly cleaning each piece of gold by hand, soaking it in a solution and brushing off rust and grime that accumulated as the treasure sat 7,000 feet (2,134 meters) below sea level.

"This is a whole new season of discovery," Evans told The Associated Press this week from the laboratory in Santa Ana. "We are now peering beneath the grime and the rust that is on the coins, removing those objects and those substances and getting to look at the treasure as it was in 1857."

The Central America was laden with booty from the California Gold Rush when it sank in a hurricane off the coast of South Carolina in 1857. Four hundred and twenty-five people drowned and thousands of pounds of California gold were lost, contributing to an economic panic.

Using sable paintbrushes and a cleaning solution, Evans has been restoring the gold —some of which is completely caked over in black gunk — to its original luster for the past two weeks. He will continue that work through February, when the treasure will go on public display at the Long Beach Convention Center, just south of Los Angeles.

The gold is all for sale. Just one tiny coin alone could go for $1 million because of its combination of rarity and the history behind it, said Dwight Manley, managing partner of the California Gold Marketing Group, which is displaying and selling the gold.

"This is something that in hundreds of years people will still be talking about, reading about, looking back on and collecting things from," Manley said. "There's no other ships that sank that haven't been recovered that rival this or are similar to this, so it's really a once-in-a-lifetime situation."

Meanwhile the deep-sea treasure hunter responsible for finding the gold in the first place continues to sit in an Ohio jail over his handling of the original treasure recovered from the Central America.

Treasure hunter and Ohio native Tommy Thompson found the ship in 1988 after convincing 161 local investors to fund the voyage for nearly $13 million. A lengthy battle ensued over who owned the gold, with Thompson and his investors eventually emerging as the victors over a group of insurance companies. Thompson's company sold 532 gold bars and thousands of coins to the California Gold Marketing Group for about $50 million in 2000.

Investors never saw any of those proceeds. In 2005, they sued Thompson, who then went into seclusion in Florida and later became a fugitive after an Ohio judge issued a warrant for his arrest in 2012.

Authorities tracked Thompson to a Florida hotel room in 2015. A judge has held Thompson in contempt since December 2015 for violating terms of a plea deal by refusing to answer questions about the location of 500 missing gold coins. He's been jailed ever since.

Thompson has previously said the coins were turned over to a trust in Belize. He has also said that the $50 million from the sale of the gold mostly went toward legal fees and bank loans. Recovered in 2014, the gold going on display in California next month is only the second round of treasure brought up from the Central America.

Manley, of the California Gold Marketing Group, bought the gold from investors this month. It was the first time investors saw returns since their initial investment in the 1980s, though some of them died waiting to see such a day.

The gold will be on display Feb. 22-24 at the Long Beach Convention Center.



                                   

                                       [1851 $50LE Augustus Humbert 887-Thous (K-4) NGC MS60]
« Last Edit: January 29, 2018, 06:54:32 AM by Golden Oxen »
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Offline azozeo

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Gold & Silver News - This is how it all went down. History/GCA
« Reply #2128 on: January 30, 2018, 06:41:19 PM »
http://www.iqdcalls.com/Neil-Keenan.html


Offline azozeo

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Re: Gold & Silver News - This is how it all went down. History/GCA
« Reply #2129 on: January 31, 2018, 03:06:52 PM »
http://www.iqdcalls.com/Neil-Keenan.html


<a href="http://www.youtube.com/v/PjmwNQX_cMw&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/PjmwNQX_cMw&fs=1</a>

 

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