The Original Old Farts Club

[Steve1]

Good afternoon everyone.

 

[kevinn]

Morning. Woke up to snow this morning. It is almost December and I haven't fired up the snow blower yet. Don't think I will need it today either. Ground is so warm it should melt pretty fast.

Will be working in my grow much of the day so the snow won't bother me much. We need the moisture s no complaints here.

All ready for Thanksgiving. Will be different this year....only 4 of us. Strange times.

I am reading a book called "The Death Of Money". More scary than any horror movie I have ever read. Gonna buy more gold. Found a local store that has just what I want. I don't have to give any personal info so the gov't won't I have it.

Critters out back want to be fed......I don't want to go out in this mess but they are insisting!

Pute
I know gold and silver is easy to buy, but where do you sell it for what it is worth ? Pawn shops take a good chunk off the top. I have some silver bars and coins that would like to sell.

 

[pute]

@ kevinn, I wouldn't walk into a pawn shop for gold or silver. Always go to a well known Gold/silver broker. Right now spot on gold is just over $1800/oz and silver is just over 23/oz. To buy it from them you will pay about 5% over spot and they will buy it back at spot. Gold was close to 2,000 a couple of weeks ago and is down about $100/oz over the past few days with the surge in the stock market.

IMO now is a good time to buy. Personally, I think the economy is gonna tank along with the market. If that happens gold/silver will surge. The dollar has been loosing approximately 3% annually since 2000 gold and silver have done very well during that period. Plus if you do make money on the market you are gonna have to pay capitol gains and god knows where it is gonna go. Right now capitol gains is 15% and rumor is it is it could go up to 40%.

With gold the gov't doesn't know you have it.....therefore they don't know what you paid for it or when you bought it. When you sell it they don't know it and you don't pay tax on the profit....unless you tell your accountant or the gov't.

 

[Rudedude]

Enjoy the evening OFC, I'm off to get lost in a cloud of sweet smoke.

 

[user 60570]

Pute
I know gold and silver is easy to buy, but where do you sell it for what it is worth ? Pawn shops take a good chunk off the top. I have some silver bars and coins that would like to sell.

check out APMEX , I’m pretty sure they will buy and give you a fair price , usually about 5% below spot

 

[ROSTERMAN]

had to be there

 

[pute]

check out APMEX , I’m pretty sure they will buy and give you a fair price , usually about 5% below spot

You mean 5% per over...just checked.....pot head!

 

[Hippie420]

I've got a few friends that buy gold and silver. I told them that if SHTF, they'd give me all the gold they've got for one rifle and fifty rounds to fit it. Trouble is, I won't want the gold. Too soft to hold an edge for knife making, and too hard to cast into bullets.

 

[ROSTERMAN]

266624[/ATTACH]

 

[burnie]

Fanciest BVT I`ve ever seen !
peace

 

[burnie]

John Prine , like a lot of us older guys , seeing the end of the road in our futures .
Night gang....enjoy !



peace

 

[Rudedude]

Good night burnie. Good morning brother Boo. Good morning OFC, it's Weedsday.

 

[user 60570]

You mean 5% per over...just checked.....pot head!

you sure?
it does not sound correct to buy at 5%over spot

ive always seen it like the dealers buy at 5% below spot and then sell at 5% over spot for their profit

why would APMEX buy at 5% over spot and cut into their profits?....I am thinking that APMEX may have a shortage in their inventory and are paying 5% over because gold and silver stockpiles are drying up

my personal opinion is that gold and silver will continue to go down in price in the short term , 1-3 months......

but how much will it go down is anyone’s guess....personally I am holding onto my dry powder in anticipation of the metals going down

 

[Tattered Old Graywolf]

That should have been my avatar LOL

I considered this one brother Cog............

To the issue of precious metals, the big question is what the monetary standard will be when the dollar is abandoned? Any thoughts?

 

[ROSTERMAN]

I considered this one brother Cog............

To the issue of precious metals, the big question is what the monetary standard will be when the dollar is abandoned? Any thoughts?

 

[Tattered Old Graywolf]

For all ya'll soft ice cream cone lovers, check out the pretty eyes and cleavage on this keeper............................

 

[Tattered Old Graywolf]

View attachment 266630

The bit shell, preceding the bit coin.........

 

[user 60570]

I considered this one brother Cog............

To the issue of precious metals, the big question is what the monetary standard will be when the dollar is abandoned? Any thoughts?

Definitely a cryptocurrency and whether it is bitcoin or not is anyone’s guess

The block chain technology sounds like it is the most secure platform out there and I hope they use it for voter ID

 

[pute]

@Big, my bad I misunderstood....I thought you said you could buy from a broker at 5% below spot. I guess I'm the pot head.

 

[Unca Walt]

I've got a few friends that buy gold and silver. I told them that if SHTF, they'd give me all the gold they've got for one rifle and fifty rounds to fit it. Trouble is, I won't want the gold. Too soft to hold an edge for knife making, and too hard to cast into bullets.

It ain't an either-or choice. Suspose you have gold... and 25 guns and swords and 10,000+ rounds of ammo...

That'd be a nice start.

Just for historical input: When the NotGeld took out the German currency, those who had gold (guns or not) ate well, lived well, and did not have to use the paper money to heat their houses.