Message from @Louis Loire - NY
Discord ID: 485821552886284289
No one wants canadian 80% so I buy that AT SPOT often
I also get 10oz bars or 1oz rds usually marked up 3-5% but I have no paper trail, a steady relationship with my dealer, and sometimes I get the inside info on some good stuff before it's ready for sale.
Online can be way better, but I like the relationship and anonymity.
Nice! Hm maybe I should get in touch with a coin shop
@ThisIsChris if that report is available to be shared publicly I’d love to read it
@ophiuchus on mobile right now, I'll look for it when I get home. I do have this relevant screenshot of the work though
The Quarterly report on household debt and credit was one of the main sources
You can get silver almost at spot from a good dealer or online deals
It's still down in the 15$ range I believe
I sold some gold and silver last year. It cost me $150 to mail it to the buyer. That’s when I realized metals will never be currency again.
most places have free shipping lol
Free shipping when you buy from a broker, not when you sell. And no there's no "free" shipping when transacting between individuals.
In a future where metals are currency, am I going to spend $20 to mail silver to Amazon.com to purchase $100 worth of goods?
So you are saying precious metals are obsolete as an investment because of weight?
That's an interesting point that I had never considered, that in a global market, physical currency is logistically clumsy
You're assuming a constant price, or elastic supply.
Then why do the most rich and powerful people banks nations ect hoard these precious metals?
Most rich people and most western nations don't hold precious metals. For any who do, perhaps they like ancient relics. I provided an argument why metals are no longer relevant. Saying "some people like them" does not refute my argument. Maybe you can tell me why some people like them.
How do you see metals being used in the future? They're far too expensive to send around, so if anyone starts using them, people will start printing warehouse receipts again and they'll print them with fractional reserves and it's not that different from what we have now.
Russia's has trippled it's gold reserves as of late
IDK where you get the info that no Western nation or powerful elites don't stack gold.
From financial times Today, Germany is one of the biggest holders of gold in the world: it owns 3,378 tonnes, worth €119bn, second only to the US. But until recently, most of that gold was stored in New York, London and Paris.
So the top economies of both the west and easy seem to stack gold
Central banks too
As for silver it's industrial use is far more valuable then it's jeweler value
Because it is the best thermal and electrical conductor of all the metals, silver is ideal for electrical applications. Its antimicrobial, non-toxic qualities make it useful in medicine and consumer products.
Your cell phone computer every single peice of electronic equipment you own has silver in it
I started buying when they started subsidizing solar panels...I was like..."I'm gonna get my tax rebate before I file...let me get summa those dimes over there"
Buy metal because it's valuable for industry use, sure.
Buy metal because it's potentially going to become currency again, I don't think so.
From what I understand, gold is priced far above it's industrial use value, due to speculators thinking it could be a currency again, or the base of a currency. Silver, I don't know if overpriced.
You don’t have to hold physical metals unless you want to
The majority of metals I have in my portfolio are precious metals ETFs
I have a few pieces of silver I have just because I like them
My broke ass can’t afford gold
Yes, no one's making me. I'm just debating the validity of purchasing with the expectation that metals might one day be currency again.
I could see the argument both ways @Tanner - SC I consider it an asset both ways, and it's the only asset I know off that isn't simultaneously someone else's liability. Because I hold it, not a claim but the actual asset...I can retain X value...it is a speculation I'll admit.
Yeah I highly doubt they’ll be currency again. In some disaster scenario where the USD, etc, fail, I really doubt people are gonna flock to precious metals, because a catastrophe of that size would basically mean civilization was over.
Precious metals are useful as a hedge and not much else- investing wise. Silver and platinum have utility in industry, gold is kinda eh.
Gold seems super inflated to me rn
Stratton Oakmont: sell us MeeMaw’s old jewelry