Pavel Svinchnik
Senior Member
- Jan 28, 2018
- 137
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I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?
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I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?
I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago,I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?
I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago, up $500 from 5 years ago ... the price is close to the peak in 2011 of $1,700 an ounce ...
Crude oil is down 40% ... with the production war going on, does this have more room to fall? ... I have a tiny position in gold, I think I might sell ... I'm betting folks will think equities are a great buy now and gold prices will fall again ...
I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago,
Down $200 from a week ago,
... but in harsh times you can buy a loaf of bread with it. It is legal tender.
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.
-- 31 U.S. Code § 5103. Legal tender
I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?
I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago, up $500 from 5 years ago ... the price is close to the peak in 2011 of $1,700 an ounce ...
Crude oil is down 40% ... with the production war going on, does this have more room to fall? ... I have a tiny position in gold, I think I might sell ... I'm betting folks will think equities are a great buy now and gold prices will fall again ...
... but in harsh times you can buy a loaf of bread with it. It is legal tender.
I'm NOT saying we can't exchange silver for a loaf of bread ... of course we can if the bread seller is willing ... but the same is true for gold, or really anything ...
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.
-- 31 U.S. Code § 5103. Legal tender
However, I believe only official silver coins are legal tender ... meaning you can't take a ounce of bar silver into a credit union and expect them to credit your account $14.69 ...