QuoteJust as bad, silver and gold are artificially being kept low.

Quote from: Lokmar on January 30, 2024, 12:44:33 PMGold will see 3K within a few years the way things are going.

Quote from: Lokmar on January 31, 2024, 06:51:09 PMGold was $35/oz up to around 1970.

Actually, you make some interesting comments Lokmeer.

I looked it up and prior to the Great Depression, Gold was only 20.74 per ounce. This is a similar value today, adjust for inflation.

https://onlygold.com/gold-prices/historical-gold-prices/

If our currencies have lost 90% or more of their purchasing power, than this is reflected in the price of gold today which is about $2075. So gold is approximately the price it was in the 1920s adjust for inflation. Factoring in 100 x that of the price around 100 years ago and that would suggest that Gold might reach $3000 or more as you've indicated.

When hard times hit during the Great Depression, rather than falling in price/value, gold actually shot up and reached the $35 plateau that you mentioned and stayed that way til about 1970. As I indicated before, anyone holding gold back then would have seen their purchasing power double if you factor in the subsequent deflation/fall in prices during the 1930s.

so...if you held 100 ounces in 1928 before the Crash, it was worth almost twice as much 10 years later in 1938 and it bought more compared with ten years earlier.

Now...I'm not suggesting that history will necessarily repeat itself. But given the amount of debt in the system and trying to cover it, gold should rise substantially in value in the next ten years. Particularly if another economic crisis hits. This mirrors the situation in 1928 prior to the crash when paper assets actually had some value and the Powers that Be back appeared to suppress the price of gold at about $20.  And there was inflation during the 1920s as well. This is similar to what you've point it where it's stuck at about $2000 today.

so if history repeats itself and we fall hard times, it would suggest that gold should go up like it did during the Great Depression.

Feel free to agree/disagree or poke holes in my analysis. It's just my laymen's knock on wood perception.

Anyways, here's a pretty good/insightful article from the Cato Institute about economic cycles/depression and their effect/impact on gold price:

https://www.cato.org/blog/world-war-i-gold-great-depression



Worth a read.

I briefly skimmed through the article and there is an historical reference to someone who prophesized an economic depression/meltdown in 1928 just prior to the Stock market crash of 1929.

"Contemporary economists Ralph Hawtrey, Charles Rist, and Gustav Cassel warned throughout the 1920s that substantial deflation, in terms of gold and therefore the dollar, would be required to sustain a return to anything like the 1914 gold standard.[1]  In 1928, Cassel actually predicted that a global depression was imminent."

This is similar to those warning about a similar collapse in the imminenet future this decade.


so this may provide clues or parallels for what may unfold in the coming years for the rest of this decade leading up to the year 2030

Quote from: JOE on January 31, 2024, 09:28:14 PMActually, you make some interesting comments Lokmeer.

I looked it up and prior to the Great Depression, Gold was only 20.74 per ounce. This is a similar value today, adjust for inflation.

https://onlygold.com/gold-prices/historical-gold-prices/

If our currencies have lost 90% or more of their purchasing power, than this is reflected in the price of gold today which is about $2075. So gold is approximately the price it was in the 1920s adjust for inflation. Factoring in 100 x that of the price around 100 years ago and that would suggest that Gold might reach $3000 or more as you've indicated.

When hard times hit during the Great Depression, rather than falling in price/value, gold actually shot up and reached the $35 plateau that you mentioned and stayed that way til about 1970. As I indicated before, anyone holding gold back then would have seen their purchasing power double if you factor in the subsequent deflation/fall in prices during the 1930s.

so...if you held 100 ounces in 1928 before the Crash, it was worth almost twice as much 10 years later in 1938 and it bought more compared with ten years earlier.

Now...I'm not suggesting that history will necessarily repeat itself. But given the amount of debt in the system and trying to cover it, gold should rise substantially in value in the next ten years. Particularly if another economic crisis hits. This mirrors the situation in 1928 prior to the crash when paper assets actually had some value and the Powers that Be back appeared to suppress the price of gold at about $20.  And there was inflation during the 1920s as well. This is similar to what you've point it where it's stuck at about $2000 today.

so if history repeats itself and we fall hard times, it would suggest that gold should go up like it did during the Great Depression.

Feel free to agree/disagree or poke holes in my analysis. It's just my laymen's knock on wood perception.

I'll have to run the numbers again but I've done it a few times and posted them for all to see. Tying commodity prices to the historical price of gold proves that its undervalued.

I'll see about updating the numbers this weekend.

Quote from: Lokmar on February 01, 2024, 06:46:36 PMI'll have to run the numbers again but I've done it a few times and posted them for all to see. Tying commodity prices to the historical price of gold proves that its undervalued.

I'll see about updating the numbers this weekend.

That American investor Jim Rogers says commodities not just gold or silver, are the place to be.
Copper sugar coffee wheat etc etc

When economic growth is sluggish commodity prices seem to be where companies invest.

Just like they appear to be doing now.

Quote from: JOE on January 31, 2024, 11:10:37 PMAnyways, here's a pretty good/insightful article from the Cato Institute about economic cycles/depression and their effect/impact on gold price:

https://www.cato.org/blog/world-war-i-gold-great-depression



Worth a read.

I briefly skimmed through the article and there is an historical reference to someone who prophesized an economic depression/meltdown in 1928 just prior to the Stock market crash of 1929.

"Contemporary economists Ralph Hawtrey, Charles Rist, and Gustav Cassel warned throughout the 1920s that substantial deflation, in terms of gold and therefore the dollar, would be required to sustain a return to anything like the 1914 gold standard.[1]  In 1928, Cassel actually predicted that a global depression was imminent."

This is similar to those warning about a similar collapse in the imminenet future this decade.

so this may provide clues or parallels for what may unfold in the coming years for the rest of this decade leading up to the year 2030

The ONLY thing to know about the depression and the price of gold is the government confiscated  all that wasnt lost when the banks closed their doors for $25/oz, and raised the price $10 to $35/oz. It was a pure tax on gold of about 29%. Yes, the government instantly created nearly 30% more free money instantly out of thin air. You also have to consider that the federal collectors most likely wound up with the gold from my great grandparents safety deposit boxes for free OR the bankers sold it to the feds for $25/oz and kept all the money.

At any rate, my great grandparents recouped zero dollars from either their personal bank accounts or their safety deposit boxes. My Great Grandfather never kept money in a bank again. He died in 1956.

Quote from: JOE on February 01, 2024, 06:51:04 PMThat American investor Jim Rogers says commodities not just gold or silver, are the place to be.
Copper sugar coffee wheat etc etc

When economic growth is sluggish commodity prices seem to be where companies invest.

Just like they appear to be doing now.

It depends on how bad you think things will get. If you think it will be a repeat of 2008, sure. If you think it will be a repeat of 1933, silver is best and for US Citizens, FOREIGN bullion if you want to add gold. It needs to be untraceable.

Quote from: Lokmar on February 01, 2024, 06:53:23 PMThe ONLY thing to know about the depression and the price of gold is the government confiscated  all that wasnt lost when the banks closed their doors for $25/oz, and raised the price $10 to $35/oz. It was a pure tax on gold of about 29%. Yes, the government instantly created nearly 30% more free money instantly out of thin air. You also have to consider that the federal collectors most likely wound up with the gold from my great grandparents safety deposit boxes for free OR the bankers sold it to the feds for $25/oz and kept all the money.

At any rate, my great grandparents recouped zero dollars from either their personal bank accounts or their safety deposit boxes. My Great Grandfather never kept money in a bank again. He died in 1956.

The US Gov confiscated all the gold.

But in Canada citizens were allowed to keep it.

US also had prohibition but Canada didnt

Quote from: JOE on February 01, 2024, 07:02:18 PMThe US Gov confiscated all the gold.

But in Canada citizens were allowed to keep it.

US also had prohibition but Canada didnt

Yep. The US citizens back then should have revolted and assassinated FDR. As far as I know tho, many citizens told the US government to GFY and they hid their bullion.

I watched something years ago where someone uncovered gold wrapped up and tossed down a well. The IRSshowed up to collect their 30% tax.

They should have kept their fucking mouths shut and sold it out of the country or in small amounts over several years.

Quote from: Lokmar on February 01, 2024, 06:58:32 PMIt depends on how bad you think things will get. If you think it will be a repeat of 2008, sure. If you think it will be a repeat of 1933, silver is best and for US Citizens, FOREIGN bullion if you want to add gold. It needs to be untraceable.

Actually I don't claim there'll be a depression Lokmeer. But that Jim Rogers does.

I just think a person should invest/ prepare or put money aside for multiple outcomes since nobody seems to know where the economy is headed - Sunny side up, no change or downhill. All the 'experts' have differing opinions and none seem to agree with one another. Just that there'll be a lot more uncertainty.

Be invested or prepared for multiple possibilities, different doors/paths that you can choose or enter and walk through. Just don't walk inta the one with the trap door where there's no escape like 1929, eh?

And if the SHTF as you suggest it will, then be prepared for that possibility.

What is your Net Worth, Senile Joe?

Quote from: TheProwler on February 01, 2024, 08:10:57 PMWhat is your Net Worth, Senile Joe?

What you should be asking is how much of my net worth is Jo Jo's. The answer is zero.

Quote from: Lokmar on February 01, 2024, 07:05:32 PMYep. The US citizens back then should have revolted and assassinated FDR. As far as I know tho, many citizens told the US government to GFY and they hid their bullion.

Somebody tried to if I read the history books correctly.


And then there was an attempted cout de tat of the Roosevelt Administration supported in part by George Bush's Grandfather Prescott Bush.


At one point the US Supreme Court ruled FDR's New Deal unconstitutional. And after that I believe FDR stacked the Court with Democrats so he could enforce it or at least parts of his agenda.

Quote from: Thiel on February 01, 2024, 09:04:02 PMWhat you should be asking is how much of my net worth is Jo Jo's. The answer is zero.

I think it is funny that Senile Joe is so fascinated with wealth and yet he has accumulated FUCK ALL.

Quote from: TheProwler on February 01, 2024, 10:41:12 PMI think it is funny that Senile Joe is so fascinated with wealth and yet he has accumulated FUCK ALL.

And what about you?

Boasting like a 1%er for which Florida is out of your reach.

What you could sell your Ontario house for would get you part of a driveway in Vancouver. Not the garage tho, as it'd cost you another million Prowler.

That's how much a driveway is worth in Vancouver & the elite real estate in the better parts of America.

My house is worth about $1.2 million in the current market.

That would get me a nice house in New Brunswick and a nice house in Florida and I would still have a few hundred thousand left over.

It is something that we have been considering, but we really have so many close ties to where we live that we have decided to stay here.

With friends, family, baseball, hockey, the Humane Society, etc. etc. we would be giving up too much if we moved.

I do not care about Vancouver.  I hear you complain about it all the time, Senile Joe.  You miserable loser!!!

Hahahahaha!!!!!