Still_Small_Voice

Gold Hits Record High and Surpasses 1,900 Dollars Per Ounce

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It’s been a historic week for gold and silver prices. Gold rallied close to nine-year highs, approaching its all-time high of $1,920 an ounce. Silver has also been firing an all cylinders, breaching $23 an ounce this week as it traded near six and a half year highs.


Kitco’s senior analyst Jim Wyckoff believes that gold’s record high is now finally within reach and more gains are likely for both gold and silver.So, what’s driving the precious metals right now? Weaker U.S. dollar, falling yields, worries over rising Covid-19 cases and growing tensions between the U.S. and China are all contributing.

Read more at:  https://www.kitco.com/news/video/show/Kitco-NEWS/2908/2020-07-24/Knockout-week-for-gold-price-silver-price-whats-next-Weekly-rundown#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DKitco-NEWS

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I wonder if the stimulus spending (printing trillions of dollars) is also at play in the surge of gold and silver prices?  Ironically the precious metal palladium has taken the place of platinum it seems.  Platinum is now selling at less than 50% of the price of gold.  It is at $942 per ounce as of July 27th.

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Ooh!  Did anyone else's eyes just turn into dollar signs?

Here's some investing 101: If you buy low and sell high, that's a good thing.  Here's my home-grown snapshot of gold and silver prices over the years.

image.png.a5c0de9072e7811a3d5a57fc9523bfc6.png

For folks who buy both gold and silver according to the spread between them, now is the time to sell that silver and buy that gold.

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6 minutes ago, Still_Small_Voice said:

Buy low and sell high.  Now is the time to sell gold not buy it in my opinion.

Yes, if you bought gold in the last decade, and you want to turn a profit.  But if you buy/sell gold and silver based on the spread of the prices between the two of them, you're not interested in the past or future value of either precious metal, just what moving between them gets you.  From that standpoint, now's the time to change the color of your holdings from white to yellow.

Edited by NeuroTypical

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Or you could just wait until you arrive in the celestial kingdom and get some for free 

4  I saw the beautiful streets of that kingdom, which had the appearance of being paved with gold.

(Doctrine and Covenants | Section 137:4)

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Just as a side note - I have never seen anything in scripture or by revelation through restored priesthood authority that has suggested that investing in gold and silver will in any way mitigate any of the maledictions prophesied for the Last-days.  I do own some silver and gold but have no plan to buy more or sell.  It is part of my recommended retirement investment strategy that I hold is less esteem than other (more spiritual) things.

As a side not - I have always had faith in real estate as one of the more sure investment strategies - COVID-19 has put even that at risk.

 

The Traveler

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Gold and silver are possible back ups after you have six months to a one year of food storage and also a week supply of water storage in my opinion. 

I also suggest a long gun that fires a caliber of at least 9 millimeter Luger in power (a more powerful rifle cartridge is better) and a pistol with storage of at least four hundred or more rounds of ammunition per firearm.

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On ‎8‎/‎5‎/‎2020 at 11:45 PM, Still_Small_Voice said:

Gold and silver are possible back ups after you have six months to a one year of food storage and also a week supply of water storage in my opinion. 

I also suggest a long gun that fires a caliber of at least 9 millimeter Luger in power (a more powerful rifle cartridge is better) and a pistol with storage of at least four hundred or more rounds of ammunition per firearm.

400 rounds?  You'll need to shoot quite a bit during the year to go through that if you want to keep the ammo current (for 2 firearms, that's 800 rounds).  I suppose it depends on how often one goes shooting and how much they want to cycle through their ammunition.  My suggestion is to cycle through ammunition at least yearly.  The amount you keep should be relavant to how much you shoot.  For those who shoot weekly or more, 800 rounds may be too little.  For those more like me who normally might only shoot during hunting season...a little less than that is probably desireable...in my opinion of course.

Edit-PS: Something that may help though, and saves some money, is to reuse the shells if able.  Refill your own shells and you can have an ample supply when you may need it.

Edited by JohnsonJones

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Cycle through ammo yearly?  So, when I shot my dad's 60 year old WWII mauser ammo out of his WWII mauser, was I doing it wrong?

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10 hours ago, NeuroTypical said:

Cycle through ammo yearly?  So, when I shot my dad's 60 year old WWII mauser ammo out of his WWII mauser, was I doing it wrong?

No, you didn't suffer any bad consequences...

However, the advice I've always had is to cycle through your ammunition regularly.  This can vary on how often depending on climate and other factors (for example, Georgia and much of the US South is very humid which impacts how long you should keep ammo, even in a house which is temperature controlled.  It will probably be constantly more humid in a house there, even with AC and heating during a dry sunny day than in a place in Colorado on a rainy day without temperature control.

But, that's just what I've been told on how often to cycle through, not that I had hard facts on it.  So, I've googled...How Often should you cycle through ammunition and found the following items that may or may not illuminate the idea...

why and how to rotate ammo from lucky gunner.com

Quote

How Often Do I Rotate?

I reached out to several big-name ammunition manufacturers while conducting research for this article, and the only specific guidance I got was this: you should rotate your duty ammunition every six months. I think this is a great guideline, but it’s still only a guideline. If you handle your gun a lot and load/unload often, you should change your ammunition more often. If your gun is a pure home-defense tool that doesn’t get cycled that much and rarely leaves a climate-controlled environment, you can safely extend that number to a year or more.

Even though I only own revolvers these days, I rotate my self-defense ammunition every 90 days. This is because I am inherently a “gun guy” and tinker with my gun a lot. I shoot it and dry practice often which means my guns get unloaded and reloaded frequently. My guns also get cleaned regularly which means my carry ammunition is in constant contact with oil, a notoriously effective primer-killer. Do you own assessment and consider your own use-case. And, when in doubt, inspect your ammunition and see if it’s time to change it out.

How often to change carry ammo from clinger holsters

Quote

ow often do you change your carry ammo? Most people probably don’t change out their CCW loads enough. But one thing you should keep in mind is that primers and powder are susceptible to extreme heat, cold, and moisture.

The Ammo You Keep In Your Gun Safe In The Box Is Hardly Under The Same Conditions The Loads In Your Weapon Encounter During Day To Day Carry.

In cool, dry storage, primer shelf life is indefinite. Heat and moisture are what can ruin them. The day to day carry your CCW ammo experiences is unlikely always going to be cool and dry.

Carrying during the summer, your gun is going to come in contact with sweat and oil (which, by the way, have probably soaked into your holster too). That Means The Same For The Ammunition In Your Weapon.

Also, during the summer, you may want to visit establishments or events that do not allow concealed carry, which means (if you’re like me) you’ll probably leave your pistol in your car.

Now, we’ve all seen the coverage about leaving animals in hot vehicles—it truly gets hot in your car during the summer months.

But high heat (and not to mention sudden fluctuations of temps from inside at 70 degrees; to a hot vehicle of 90+) can cause problems for primers and powder, thus causing unreliable ammunition.

If you carry during hunting season, you’re likely to sit in your deer stand in the cold (maybe even the snow, depending on where you live, or where you hunt).

I am one who carries ammo during hunting season...quite a bit...even...so...

Ammo shelf life from gunbelts.com

Quote

The truth is that ammo shelf life is somewhat relative. Under ideal conditions, ammunition will actually keep for decades - in fact, in the right conditions...ammunition could potentially last longer than that.

Believe it or not, there are a few things that affect how long ammunition or basically any other non-perishable good that people tend to stockpile, and for that matter, perishable goods as well. Those things are heat, moisture and sunlight.

Outside of perishable goods that require refrigeration or freezing, long term storage in a dry, dark and moderate temperature environment will keep a lot of things nearly indefinitely - certain adult beverages (wine cellars are a thing for a reason), canned or jarred goods, and bullets will all keep for an incredibly long time in such storage.

With more exacting control over these elements, such as if one uses a humidor or other humidity-controlled containment system, then bullets can last even longer. If stored in a vacuum-sealed container and left in a dark, dry place...it would be good basically forever. T

hat said, how much ammunition that is currently being held by people who have purchased it is being stored in a dark, temperature and humidity controlled container? Not much, in all likelihood; not many people will entertain the idea of having a bullet humidor. Therefore, the shelf life of ammo is relative, namely to how well it's stored by the person who bought it. .

How often should you rotate edc ammo from everydaycarryconcealed

Quote

fter clearing my weapon the other evening, I began to consider when the last time was that I cycled through my EDC ammo. This got me wondering how many people don’t ever change their ammo out. So, How often should you rotate everyday carry ammo? Any round in the chamber should be rotated quarterly, while magazine ammo should be done at least annually. I also recommend you rotate ammo in your revolver quarterly, because of the increased exposure of the rounds. This ammo can be converted from EDC to range ammunition. Rotating ammo regularly decreases the chances of corrosion buildup or exposure of the primers to gun oil.

What Causes Ammunition To Go Bad?

The shelf life of modern ammunition depends on a number of factors. Most manufacturers claim that their ammo is good for 10 years. When kept under ideal conditions, the shelf life is likely much longer than this. However, those ideal conditions are nigh impossible to maintain. Let’s discuss what things can cause a weapons’ ammo to expire before it’s time.

So...the TLDR...would be...

It depends.  Ammunition in theory could be kept almost indefinitely if in a dry, temperature controlled area that is in the dark.  Many people do not keep their ammunition in these types of conditions (most, I'd say, in fact).  They keep them in the dark, but it's in their basement (many basements are NOT environmentally controlled and thus more damp and humid than the rest of the house), or they live in a humid area that is naturally humid and did not pay for a humidity control on their heater/AC unit, or various other factors.

In addition, even ammunition makers only give out claims up to 10 years (which, admittedly is much longer than 1 year that I gave).  If you are using the gun (and you probably should use it to make sure that you can still hit the broadside of a barn occasionally, or if you go hunting, to actually have something to hunt with) the ammunition you take with you will need to be rotated more often than 10 years most likely.

So, I'd say, I'll still stick with the suggestion that you only have enough to last you through one year (and we only need a year's worth of storage).  Enough that you rotate and cycle through it, and won't suffer from misfires if you didn't keep it in ideal situations.  If you go through 800 rounds a year...than get those 400 rounds for each of the two guns.  If you only go through 100 or 200, perhaps having that is a better idea.  If you go through more (I know guys that go through thousands of rounds in a year, but they are pretty hardcore into shooting), then more than that.

For how long ammunition will last, it varies from what I read on the article above...however...I think if you aren't absolutely sure of your storage conditions, it's probably better to be safe than sorry if the time ever comes where you actually have to rely on that ammunition for self defense.

Edited by JohnsonJones

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In my favorite post-apoc fiction One Second After, the town trading post has a sign set up - a picture of a squirrel equals three .22 rounds.    I figure I'll just show up with my squirrel, and be fine. 

 

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On 8/5/2020 at 11:45 PM, Still_Small_Voice said:

Gold and silver are possible back ups after you have six months to a one year of food storage and also a week supply of water storage in my opinion. 

I also suggest a long gun that fires a caliber of at least 9 millimeter Luger in power (a more powerful rifle cartridge is better) and a pistol with storage of at least four hundred or more rounds of ammunition per firearm.

My wife inherited some silver - which we thought to be quite cool.  However, the silver requires a great deal of upkeep to prevent tarnishing.  I seriously wonder why silver is used in such a manner.  We ended up giving it all away.

 

The Traveler

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I'm shocked you gave the silver away.  Silver has been worth money for over a thousand years.  I at least would have sold it and gave the money to the Church or a charitable cause.

Use toothpaste to polish silver.  It works great.

Edited by Still_Small_Voice

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As an investment advisor, please be cautious about buying gold or silver as any sort of investment. It costs money to store properly, and also pays no income.  It’s a SHTF only deal. And that’s very unlikely, at least here in the US. 

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On 7/27/2020 at 2:29 PM, Still_Small_Voice said:

I wonder if the stimulus spending (printing trillions of dollars) is also at play in the surge of gold and silver prices?  Ironically the precious metal palladium has taken the place of platinum it seems.  Platinum is now selling at less than 50% of the price of gold.  It is at $942 per ounce as of July 27th.

Printing money is a potential problem. But a lot more goes into inflation analysis than that. 
Debt is also a problem, if the debtor has a bad debt/equity ratio. Luckily, the US has a lot of equity, with asset numbers into the hundreds of trillions.  So the debt is very manageable from an equity point of view. 
Problems do arise if income does not cover debt interest. This is typically temporary in an economy as large as the US. But as we have learned, the financial pain can be significant. 

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On 8/5/2020 at 10:45 PM, Still_Small_Voice said:

Gold and silver are possible back ups after you have six months to a one year of food storage and also a week supply of water storage in my opinion. 

I also suggest a long gun that fires a caliber of at least 9 millimeter Luger in power (a more powerful rifle cartridge is better) and a pistol with storage of at least four hundred or more rounds of ammunition per firearm.

Some of you should subscribe to Recoil magazine and similar. 😆

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57 minutes ago, mrmarklin said:

As an investment advisor, please be cautious about buying gold or silver as any sort of investment. It costs money to store properly, and also pays no income.  It’s a SHTF only deal. And that’s very unlikely, at least here in the US. 

Do you ever advise people to buy low and sell high?

image.png.2bba6d59209be02b876380ff71c717f3.png

Maybe I'm missing your point - are you saying buying at 2000 and selling at 3500 is only possible because we're in a SHTF moment?

 

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6 hours ago, NeuroTypical said:

Do you ever advise people to buy low and sell high?

image.png.2bba6d59209be02b876380ff71c717f3.png

Maybe I'm missing your point - are you saying buying at 2000 and selling at 3500 is only possible because we're in a SHTF moment?

 

Unless you are a market insider you cannot time the market. And even then.............

If you want to sell high and buy low, get into a “balanced” Mutual Fund. This is your best chance.  And even then...........

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5 hours ago, mrmarklin said:
12 hours ago, NeuroTypical said:

Do you ever advise people to buy low and sell high?

image.png.2bba6d59209be02b876380ff71c717f3.png

Maybe I'm missing your point - are you saying buying at 2000 and selling at 3500 is only possible because we're in a SHTF moment?

 

Unless you are a market insider you cannot time the market. And even then.............

 If you want to sell high and buy low, get into a “balanced” Mutual Fund. This is your best chance.  And even then...........

Beat me to it. In retrospect, buying low and selling high is obviously the strategy... but that is only possible in retrospect. If it was really as simple as buying low and selling high, why aren’t we all doing that and creating infinite wealth??

When investing, trying to time those price spikes is like trying to time an earthquake. You just can’t do it. Nor is there any guarantee it will go up.

im no financial advisor, but I don’t like  investing in non-businesses I particularly like the good ones that drive the American economy, those have always been going up. Invest in American is my approach.

Edited by Fether

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13 hours ago, mrmarklin said:

Debt is also a problem, if the debtor has a bad debt/equity ratio. Luckily, the United States has a lot of equity, with asset numbers into the hundreds of trillions.  So the debt is very manageable from an equity point of view.  Problems do arise if income does not cover debt interest. This is typically temporary in an economy as large as the United States. But as we have learned, the financial pain can be significant. 

I am wondering though how much debt our country can continue to take on.  Current United States national debt is close to $26,600,000,000,000 (26.6 trillion) today.  At some point in the future the debt bubble will explode.  When it does it will cause great financial ruin.  It could be many years from now but it will happen if Congress and the President do not restrain financial spending.

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52 minutes ago, Still_Small_Voice said:

At some point in the future the debt bubble will explode

What does this even mean? I don't understand how debt works on a national level.

I feel like people throw around these phrases and they don’t even know what they mean.

Edited by Fether

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1 hour ago, Fether said:

What does this even mean? I don't understand how debt works on a national level.

I feel like people throw around these phrases and they don’t even know what they mean.

When the debt is no longer sustainable likely it will result in American Bonds becoming worthless along with the complete loss of value of the American dollar.  I have no clue of the timeline on when this will happen in the future.  I do not think it will be an over night event though.  It will very likely happen one small step at a time.

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3 hours ago, Still_Small_Voice said:

American Bonds becoming worthless along with the complete loss of value of the American dollar

How does that effect the average American? Would I no longer be able to go to the store and buy ground beef? Will it just be harder to travel abroad using American currency?

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