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Very Hot Topic (More than 25 Replies) Why the market/economy isn't crashing (Read 704 times)
SkyChief
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Re: Why the market/economy isn't crashing
Reply #60 - Jan 13th, 2020 at 9:22pm
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kaz wrote on Jan 13th, 2020 at 4:48pm:
First of all, you're a liar.   That isn't what you said.  I keep quoting what you said and you still don't have the balls enough to admit what you said.  You never do.  You're not a man.

And yes, gold transaction costs can be astronomical.  Especially if you buy coins.   If you're buying physical gold, you have to know what you're doing

There is always a 'premium' when buying precious metals.  It is usually 1% or 2% of the value of the trade.

Is this ASTRONOMICAL?  No. 

Barter trades do not need premiums.

My barber charges $20 for a haircut.  I can pay with a $20 Federal Reserve Note, or I can pay with a 1 ounce silver coin + 8 quarters.

Or a 1 ounce silver coin + Two One-dollar Federal Reserve notes.

There is no premium in this barter transaction.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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kaz
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Re: Why the market/economy isn't crashing
Reply #61 - Jan 14th, 2020 at 8:08am
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SkyChief wrote on Jan 13th, 2020 at 9:22pm:
There is always a 'premium' when buying precious metals.  It is usually 1% or 2% of the value of the trade.

Is this ASTRONOMICAL?  No. 

Barter trades do not need premiums.

My barber charges $20 for a haircut.  I can pay with a $20 Federal Reserve Note, or I can pay with a 1 ounce silver coin + 8 quarters.

Or a 1 ounce silver coin + Two One-dollar Federal Reserve notes.

There is no premium in this barter transaction.


I didn't say there's a premium when you make the barter transaction, I said there's a premium when you buy the silver coins.

Do you pay the market price of one ounce of silver when you buy a 1 ounce sliver coin?

Also, I didn't say that you can't buy commodities without paying high premiums, I said you have to know what you're doing.

If you know enough to avoid high premiums, you learned that because you know what I'm talking about
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #62 - Jan 14th, 2020 at 8:09am
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Jeff wrote on Jan 13th, 2020 at 5:53pm:
"Astronomical" is a relative term. My advice is to shop around. Buy bars instead of coins if you want to, or not.


Like everything else, you don't know anything about buying commodities.  Like everything else, that doesn't mean you don't endlessly bluster about it.

You're Cliff Clavin
  

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Jeff
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Re: Why the market/economy isn't crashing
Reply #63 - Jan 14th, 2020 at 9:39am
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Another opinion on the economy:

https://www.zerohedge.com/markets/insanity-jim-rogers-warns-horrible-time-ahead

And some explanatory information about high stock prices:

https://www.cnbc.com/2020/01/13/five-biggest-stocks-dwarfing-the-market-at-unpre...

And more about central banks, gold, and repatriation:

http://www.alt-market.com/index.php/articles/4057-is-this-why-central-banks-are-...

From the third article:

"In 2018, foreign central banks bought levels of gold not seen since 2010. The past year of 2019, according to 3rd quarter figures, shows that banks bought even more; 12% more than in 2018. Last year, central banks purchased at least 550 tons of the “barbaric relic”, and it looks like they don’t plan to stop anytime soon.

Leading buyers have included Russia, China and Turkey, with the former two being the leading buyers for several years now. But central banks aren’t just buying gold, they are also demanding their gold storage be transferred away from offshore holdings and back to their own vaults.

Germany repatriated $31 billion (583 tons) in gold from Paris and New York vaults. Turkey repatriated 220 tons from the Federal Reserve. The Netherlands repatriated 122 tons. Poland repatriated 100 tons of gold from vaults in England. Both Hungary and Romania have announced plans to get their gold holdings back, and nationalists in Italy have demanded that Italy’s gold reserves be released by banks and returned to public control.

The bottom line is, there is a gold rush going on by central banks as well as governments, and the public is being left utterly out of the loop as to why."
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #64 - Jan 14th, 2020 at 9:46am
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Jeff wrote on Jan 14th, 2020 at 9:39am:
Another opinion on the economy:

https://www.zerohedge.com/markets/insanity-jim-rogers-warns-horrible-time-ahead

And some explanatory information about high stock prices:

https://www.cnbc.com/2020/01/13/five-biggest-stocks-dwarfing-the-market-at-unpre...

And more about central banks, gold, and repatriation:

http://www.alt-market.com/index.php/articles/4057-is-this-why-central-banks-are-...

From the third article:

"In 2018, foreign central banks bought levels of gold not seen since 2010. The past year of 2019, according to 3rd quarter figures, shows that banks bought even more; 12% more than in 2018. Last year, central banks purchased at least 550 tons of the “barbaric relic”, and it looks like they don’t plan to stop anytime soon.

Leading buyers have included Russia, China and Turkey, with the former two being the leading buyers for several years now. But central banks aren’t just buying gold, they are also demanding their gold storage be transferred away from offshore holdings and back to their own vaults.

Germany repatriated $31 billion (583 tons) in gold from Paris and New York vaults. Turkey repatriated 220 tons from the Federal Reserve. The Netherlands repatriated 122 tons. Poland repatriated 100 tons of gold from vaults in England. Both Hungary and Romania have announced plans to get their gold holdings back, and nationalists in Italy have demanded that Italy’s gold reserves be released by banks and returned to public control.

The bottom line is, there is a gold rush going on by central banks as well as governments, and the public is being left utterly out of the loop as to why."


$31 billion is a sneeze in the global economy.

This is why I wrote the post on perspective.  You have none.  That it's "growing" doesn't mean shit.  Show it's significant.  This doesn't show that
  

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SkyChief
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Re: Why the market/economy isn't crashing
Reply #65 - Jan 14th, 2020 at 12:24pm
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kaz wrote on Jan 14th, 2020 at 8:08am:
Do you pay the market price of one ounce of silver when you buy a 1 ounce sliver coin?

Depends who I buy it from.

A 1-oz silver coin bought from a dealer usually will have a premium between 45¢ and a dollar.

A 1-oz silver coin bought from a person might have no premium - you can haggle with a person.
« Last Edit: Jan 14th, 2020 at 3:02pm by SkyChief »  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Why the market/economy isn't crashing
Reply #66 - Jan 14th, 2020 at 2:43pm
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kaz wrote on Jan 14th, 2020 at 9:46am:
$31 billion is a sneeze in the global economy.

1025 tons of gold repatriated so far, and more to come, signifies something, Scarecrow.
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #67 - Jan 14th, 2020 at 3:55pm
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SkyChief wrote on Jan 14th, 2020 at 12:24pm:
Depends who I buy it from.

A 1-oz silver coin bought from a dealer usually will have a premium between 45¢ and a dollar.

A 1-oz silver coin bought from a person might have no premium - you can haggle with a person.


I went online and did some basic searching.  I found markups to be between 5% and 16% for gold and silver coins.  If you go to a reputable seller, I don't consider 5% terrible, they do have to mint the coin and sell it.  16% was a lot in my view.  There could also be shipping costs, but they seemed to go away other than for small orders.

After the fall though, how would people know your coins aren't fake?
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #68 - Jan 14th, 2020 at 3:57pm
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Jeff wrote on Jan 14th, 2020 at 2:43pm:
1025 tons of gold repatriated so far, and more to come, signifies something, Scarecrow.


Just 1/2 of 1% of the supply, shit stain.  Oooohhhhhhh.

Perspective is where you always get lost
  

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SkyChief
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Re: Why the market/economy isn't crashing
Reply #69 - Jan 14th, 2020 at 4:12pm
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kaz wrote on Jan 14th, 2020 at 3:55pm:
I went online and did some basic searching.  I found markups to be between 5% and 16% for gold and silver coins.  If you go to a reputable seller, I don't consider 5% terrible, they do have to mint the coin and sell it.  16% was a lot in my view.  There could also be shipping costs, but they seemed to go away other than for small orders.
Like I said, my supplier charges 45¢ premium on one-ounce silver coins.  $18/oz silver means his markup is only 2.5%.   

kaz wrote on Jan 14th, 2020 at 3:55pm:
After the fall though, how would people know your coins aren't fake?

Fakes are easy to spot if you know what to look for.  I *almost* bought one from a coin shop once.

You can imaging how embarrassed he was when I told him.     He destroyed the fake coin while I (and others) watched.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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