Gold

[Picaro]

Gold is doing great for me; I have most of my 'loose change' in Kg bars. Started buying in the early 1980's, and again major buys in the late 1990's. After hovering around baselines of $1,100-$1200 recently it's gone up to around $1,500 or so, which on my average basis costs of around $350 an ounce is an 80% advance, and I'm selling some to get a new truck and some nice stuff for the grandkids for Christmas. I've never regretted buying all I could afford to for going on 5 decades.

recently it's gone up to around $1,500 or so, which on my average basis costs of around $350 an ounce is an 80% advance,

$350 to $1500 is an 80% advance...……….?

If your $350 investment takes 20 years to be worth $1,500, I calculate the annual compound increase at about 7.55%. Not a bad rate of return. Gold and silver have I some, just as insurance in case of financial disaster. I'll trade my Mercury Head dimes to the locals in return for hay for my sheep.

The original has been rolled over several times in 20 years; since it was up over 80% on my basis costs I sold some off, bought some goodies, and have a reserve to repurchase the amount sold off later. It may still rise some more, in which case I might sell some more, but for now I'm happy.

 

[Picaro]

In an awful farm economy thanks to trade tariff, a well used John Deere R4045 cost $435,000, 10 years ago I bought one for $59,000. Over that same time period the $1 McDouble at McDonalds, doubled to $2 today! But there is no inflation! Move along, nothing to see here!

Infaltion has been about double what the govt reports as 'official'; the govt. has a large benefit from lying about it, true. I use 1972 dollars for my basis. A $2 McDouble is only about 8 or 9 cents in 1972 dollars, about half price comparatively, really.

 

[fncceo]

All it takes is a few ounces of lead to deprive you of your gold.

 

[Pavel Svinchnik]

In an awful farm economy thanks to trade tariff, a well used John Deere R4045 cost $435,000, 10 years ago I bought one for $59,000. Over that same time period the $1 McDouble at McDonalds, doubled to $2 today! But there is no inflation! Move along, nothing to see here!

Infaltion has been about double what the govt reports as 'official'; the govt. has a large benefit from lying about it, true. I use 1972 dollars for my basis. A $2 McDouble is only about 8 or 9 cents in 1972 dollars, about half price comparatively, really.

I use a 10-to-1 measure. When I was a boy, around 1960, a can of Coke was ten cents; now it's a dollar. A candy bar costing five cents back then is now fifty cents. A new starter home was around $18,000; now they're around $180,000 in my area. Gasoline was about 25 cents per gallon; now we pay around $2.50. I remember McDonald's hamburgers being ten cents while cheeseburgers cost twelve cents; not sure what they cost now, I haven't had one in years.

When I started working in the early 70's, $10,000 per year was a really good professional wage, where now you need $100,000.​

Some things have changed up or down. A basic family sedan was around $2,000 back then but now costs close to $30,000. Of course, back then we didn't have electric windows, air conditioning, air bags, radial tires, etc. And in the 1990's, a good computer cost $2,000 while now you can get one for $300-400.

 

[Pavel Svinchnik]

All it takes is a few ounces of lead to deprive you of your gold.

Good point. I have more lead than gold and silver.

 

[Picaro]

In an awful farm economy thanks to trade tariff, a well used John Deere R4045 cost $435,000, 10 years ago I bought one for $59,000. Over that same time period the $1 McDouble at McDonalds, doubled to $2 today! But there is no inflation! Move along, nothing to see here!

Infaltion has been about double what the govt reports as 'official'; the govt. has a large benefit from lying about it, true. I use 1972 dollars for my basis. A $2 McDouble is only about 8 or 9 cents in 1972 dollars, about half price comparatively, really.

I use a 10-to-1 measure. When I was a boy, around 1960, a can of Coke was ten cents; now it's a dollar. A candy bar costing five cents back then is now fifty cents. A new starter home was around $18,000; now they're around $180,000 in my area. Gasoline was about 25 cents per gallon; now we pay around $2.50. I remember McDonald's hamburgers being ten cents while cheeseburgers cost twelve cents; not sure what they cost now, I haven't had one in years.

When I started working in the early 70's, $10,000 per year was a really good professional wage, where now you need $100,000.​

Some things have changed up or down. A basic family sedan was around $2,000 back then but now costs close to $30,000. Of course, back then we didn't have electric windows, air conditioning, air bags, radial tires, etc. And in the 1990's, a good computer cost $2,000 while now you can get one for $300-400.

I use 1972 dollars because that was before the Oil Crisis and the food shortage , while still accounting for the Cold War inflation, i.e. Viet Nam inflation cycle. I divide current prices by roughly 25 to 30. a lot of stuff is a lot cheaper in adjusted dollars these days, but with wages far lower also it doesn't help the working poor any at all. But then, as always, it depended on where you lived; Texas was a lot cheaper than New York back then as well, for instance, and before the local prevailing wage rules began to be applied to government contracts, making Yankee wages at Convair, later General Dynamics, and other defense contractors, was extremely good pay, average $8 an hour, about four times the local rates for the same skills. You could get a decent garage apt. and make payments on a relatively new car on minimum wage and a 40 hour week when I was in high school and first years in college. You weren't rich, but you weren't anywhere near starving, either, if you were single.

 

[Pavel Svinchnik]

In an awful farm economy thanks to trade tariff, a well used John Deere R4045 cost $435,000, 10 years ago I bought one for $59,000. Over that same time period the $1 McDouble at McDonalds, doubled to $2 today! But there is no inflation! Move along, nothing to see here!

Infaltion has been about double what the govt reports as 'official'; the govt. has a large benefit from lying about it, true. I use 1972 dollars for my basis. A $2 McDouble is only about 8 or 9 cents in 1972 dollars, about half price comparatively, really.

I use a 10-to-1 measure. When I was a boy, around 1960, a can of Coke was ten cents; now it's a dollar. A candy bar costing five cents back then is now fifty cents. A new starter home was around $18,000; now they're around $180,000 in my area. Gasoline was about 25 cents per gallon; now we pay around $2.50. I remember McDonald's hamburgers being ten cents while cheeseburgers cost twelve cents; not sure what they cost now, I haven't had one in years.

When I started working in the early 70's, $10,000 per year was a really good professional wage, where now you need $100,000.​

Some things have changed up or down. A basic family sedan was around $2,000 back then but now costs close to $30,000. Of course, back then we didn't have electric windows, air conditioning, air bags, radial tires, etc. And in the 1990's, a good computer cost $2,000 while now you can get one for $300-400.

I use 1972 dollars because that was before the Oil Crisis and the food shortage , while still accounting for the Cold War inflation, i.e. Viet Nam inflation cycle. I divide current prices by roughly 25 to 30. a lot of stuff is a lot cheaper in adjusted dollars these days, but with wages far lower also it doesn't help the working poor any at all. But then, as always, it depended on where you lived; Texas was a lot cheaper than New York back then as well, for instance, and before the local prevailing wage rules began to be applied to government contracts, making Yankee wages at Convair, later General Dynamics, and other defense contractors, was extremely good pay, average $8 an hour, about four times the local rates for the same skills. You could get a decent garage apt. and make payments on a relatively new car on minimum wage and a 40 hour week when I was in high school and first years in college. You weren't rich, but you weren't anywhere near starving, either, if you were single.

I worked a lot of part-time, minimum-wage jobs when I was in college in the late 60's and early 70's. As I recall, the minimum wage back then was $1.25 per hour, but occasionally I got a job paying $1.50 per hour.

 

[Picaro]

In an awful farm economy thanks to trade tariff, a well used John Deere R4045 cost $435,000, 10 years ago I bought one for $59,000. Over that same time period the $1 McDouble at McDonalds, doubled to $2 today! But there is no inflation! Move along, nothing to see here!

Infaltion has been about double what the govt reports as 'official'; the govt. has a large benefit from lying about it, true. I use 1972 dollars for my basis. A $2 McDouble is only about 8 or 9 cents in 1972 dollars, about half price comparatively, really.

I use a 10-to-1 measure. When I was a boy, around 1960, a can of Coke was ten cents; now it's a dollar. A candy bar costing five cents back then is now fifty cents. A new starter home was around $18,000; now they're around $180,000 in my area. Gasoline was about 25 cents per gallon; now we pay around $2.50. I remember McDonald's hamburgers being ten cents while cheeseburgers cost twelve cents; not sure what they cost now, I haven't had one in years.

When I started working in the early 70's, $10,000 per year was a really good professional wage, where now you need $100,000.​

Some things have changed up or down. A basic family sedan was around $2,000 back then but now costs close to $30,000. Of course, back then we didn't have electric windows, air conditioning, air bags, radial tires, etc. And in the 1990's, a good computer cost $2,000 while now you can get one for $300-400.

I use 1972 dollars because that was before the Oil Crisis and the food shortage , while still accounting for the Cold War inflation, i.e. Viet Nam inflation cycle. I divide current prices by roughly 25 to 30. a lot of stuff is a lot cheaper in adjusted dollars these days, but with wages far lower also it doesn't help the working poor any at all. But then, as always, it depended on where you lived; Texas was a lot cheaper than New York back then as well, for instance, and before the local prevailing wage rules began to be applied to government contracts, making Yankee wages at Convair, later General Dynamics, and other defense contractors, was extremely good pay, average $8 an hour, about four times the local rates for the same skills. You could get a decent garage apt. and make payments on a relatively new car on minimum wage and a 40 hour week when I was in high school and first years in college. You weren't rich, but you weren't anywhere near starving, either, if you were single.

I worked a lot of part-time, minimum-wage jobs when I was in college in the late 60's and early 70's. As I recall, the minimum wage back then was $1.25 per hour, but occasionally I got a job paying $1.50 per hour.

I worked part time nights on the gate at a drive-in movie, and afternoons and Sat.-Sun. part time as a sacker at a Skaggs-Albertson's in a realtively affluent neighbhood. They tipped sack boys in those days, usually pretty well too, on top of minimum wage. Plenty of decent jobs for teenagers back then, with a population about half of today's and no criminal illegal alien swarms. If you wanted to work in a machine shop or construction you could pull down $2-$3 an hour, but I made more than that with the tips at the grocery store and without getting dirty or working hard.

 

[KissMy]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

 

[Toddsterpatriot]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

Only because expanding the balance sheet doesn't automatically mean QE.

 

[the other mike]

It's always interesting looking back 10 years.....I think one of the contradictions of capitalism is the contradiction of capital itself. Using money to make more money can only ever steal its worth from the labor that went into it. Either what is currently happening where workers are not paid what they are worth or where workers are paid what their worth but a need for profit generates inflation through rising prices effectively still stealing value from the worker, merely doing it after the fact by devaluing the money through price increases. This contradiction can only lead to two outcomes -. a money funnel to the rich, or massive inflation where confidence is eventually lost in the currency itself. Huge boondoggles like healthcare and military/security spending are an x factor of course.

Pushing $23 trillion
https://www.usdebtclock.org/

It can't make sense for such a small group of individuals
to keep so much while leaving the rest of us by and large in debt.

 

[Toddsterpatriot]

It's always interesting looking back 10 years.....I think one of the contradictions of capitalism is the contradiction of capital itself. Using money to make more money can only ever steal its worth from the labor that went into it. Either what is currently happening where workers are not paid what they are worth or where workers are paid what their worth but a need for profit generates inflation through rising prices effectively still stealing value from the worker, merely doing it after the fact by devaluing the money through price increases. This contradiction can only lead to two outcomes -. a money funnel to the rich, or massive inflation where confidence is eventually lost in the currency itself. Huge boondoggles like healthcare and military/security spending are an x factor of course.

Pushing $23 trillion
https://www.usdebtclock.org/

It can't make sense for such a small group of individuals
to keep so much while leaving the rest of us by and large in debt.

Using money to make more money can only ever steal its worth from the labor that went into it.

Liar.

 

[KissMy]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

Only because expanding the balance sheet doesn't automatically mean QE.

Trump increased total US dollars by 20% during a "good economy"!!! That is a huge quantity.of M1 money supply! Prosperity from a printing press is theft from workers & savers.

Clinton created a surplus, slashed total US dollars and quantity.of M1 money supply!

 

[Toddsterpatriot]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

Only because expanding the balance sheet doesn't automatically mean QE.

He increased total US dollars by 20% during a "good economy"!!! That is a huge quantity.of M1 money supply! Prosperity from a printing press = unsustainable disaster.

Clinton cut spending, raised taxes, created a surplus, slashed total US dollars and quantity.of M1 money supply!

He increased total US dollars by 20% during a "good economy"!!!

Who? When?

Post your evidence.

slashed total US dollars and quantity.of M1 money supply!

M1 Money Stock | FRED | St. Louis Fed

$1.03 trillion to $1.096 trillion. That's not a decrease.​

 

[Toddsterpatriot]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

Only because expanding the balance sheet doesn't automatically mean QE.

Trump increased total US dollars by 20% during a "good economy"!!! That is a huge quantity.of M1 money supply! Prosperity from a printing press is theft from workers & savers.

Clinton created a surplus, slashed total US dollars and quantity.of M1 money supply!

Prosperity from a printing press = unsustainable disaster.

I agree, Obama was pretty awful.

 

[Picaro]

We already have two great historical examples of what trading a producing economy for a rentier economy, the Dutch and the English, lead to. At least some of Trump's policies try to reverse that slide downward, but not all and not nearly enough.

 

[Toddsterpatriot]

To fix it's Repo problem, the Fed will now but Treasury bills, but says don't call it QE. LOL!!!

Only because expanding the balance sheet doesn't automatically mean QE.

Trump increased total US dollars by 20% during a "good economy"!!! That is a huge quantity.of M1 money supply! Prosperity from a printing press is theft from workers & savers.

Clinton created a surplus, slashed total US dollars and quantity.of M1 money supply!

Still looking for your evidence? DURR!