[emt1581]

Again, I don't see PM's reflecting reality. All this talk about the global economic uncertainty recently in the media. You'd think PM's would go up, if only slightly. Instead they seem to be following the market in an almost parallel fashion. And this couldn't have come at a worse time for us. We may need to cash some in and would only get between half and 60% of what we paid for them.

-Emt1581

[Warp]

Originally Posted by emt1581

Again, I don't see PM's reflecting reality. All this talk about the global economic uncertainty recently in the media. You'd think PM's would go up, if only slightly. Instead they seem to be following the market in an almost parallel fashion. And this couldn't have come at a worse time for us. We may need to cash some in and would only get between half and 60% of what we paid for them.

-Emt1581

I got almost all of my silver around $16.

And I paid for my gold, and the rest of the silver, by selling my $16/oz silver for about $48/oz.

[Mr.Pliskin]

I paid all the way from 7$ to 36$ for all my silver. If it drops down to 20 ill probably pick up 5K worth.

[cowboy1964]

Originally Posted by emt1581

Again, I don't see PM's reflecting reality. All this talk about the global economic uncertainty recently in the media. You'd think PM's would go up, if only slightly. Instead they seem to be following the market in an almost parallel fashion. And this couldn't have come at a worse time for us.

In the short term there is going to be a lot of volatility in PMs. Don't invest any money you may need in the next year or two!

PM prices are heavily manipulated and are being artificially held down by the strength of the U.S. dollar. We still have 6-24 months of swinging PM prices, maybe more. But we're not going to see $1000 gold again. Just like we're not going to see $2 gas again.

[wjv]

Almost time to buy!!!

[emt1581]

Well I'll be selling 40oz. as soon as I get my bike inspected tomorrow morning. A ten oz. bar, around 25 1oz bars and the rest rounds. I expect I'll get around $1000 for them. Maybe even a little more.

I could have sold my G20 and was planning to. But I'd much rather get rid of bullion than a gun.

A little side question here....

Since I have a few receipts showing I paid $45-ish for a bunch of silver. When it comes to be tax time, can I present the receipt from tomorrow showing/claiming a loss?

-Emt1581

[Sam Spade]

Wow. Thread started when silver hit $24/oz. Now here we are 2 years later, and silver is about to hit $24 again...on the way down this time.

Cue the Lion King and "The Circle of Life"...

[cowboy1964]

Originally Posted by Sam Spade

Wow. Thread started when silver hit $24/oz. Now here we are 2 years later, and silver is about to hit $24 again...on the way down this time.

How much is your dollar worth now compared to two years ago? How much will it be worth 5 or 10 years from now?

Hint: less than it is now. A LOT less. There is ZERO chance of it being worth more.

[emt1581]

Originally Posted by cowboy1964

How much is your dollar worth now compared to two years ago? How much will it be worth 5 or 10 years from now?

Hint: less than it is now. A LOT less. There is ZERO chance of it being worth more.

I'm watching Shawshank Redemption on AMC and they just flashed one of those story notes on how much Andy blew town with adjusted for inflation. $375K in 66 would be $2.5mil. today.

Now if we were to do the same with Silver, I wonder what, say 100oz. would be worth then and now.

Oh also....claiming a loss on taxes....anyone anyone?

Thanks

-Emt1581

[Sam Spade]

Originally Posted by cowboy1964

How much is your dollar worth now compared to two years ago? How much will it be worth 5 or 10 years from now?

Hint: less than it is now. A LOT less. There is ZERO chance of it being worth more.

Wrong question. Since I'm not a coupon clipper, I don't pay for things in dollars. I pay for things with my labor, and the dollars are just markers for that.

So the correct question is, "how long do I have to work to pay for something?"

When you ask that, I'm pretty even over the last 2 years. Housing requires less of my labor, gasoline a bit more, food less, entertainment less, insurance less, and so on.

[emt1581]

Originally Posted by Sam Spade

Wrong question. Since I'm not a coupon clipper, I don't pay for things in dollars. I pay for things with my labor, and the dollars are just markers for that.

So the correct question is, "how long do I have to work to pay for something?"

When you ask that, I'm pretty even over the last 2 years. Housing requires less of my labor, gasoline a bit more, food less, entertainment less, insurance less, and so on.

Food less?? You growing your own?

Around here, some food is similar in price, but I'm not sure that anything is actually less.

Take a candy bar. I don't care if you eat them or not, this is just for the sake of argument. Used to be .40 to .50 all day long. Now they are .60-.75.

How about soda? Pasta? Meat?

-Emt1581

[Warp]

Originally Posted by emt1581

Food less?? You growing your own?

Around here, some food is similar in price, but I'm not sure that anything is actually less.

Take a candy bar. I don't care if you eat them or not, this is just for the sake of argument. Used to be .40 to .50 all day long. Now they are .60-.75.

How about soda? Pasta? Meat?

-Emt1581

...note that his salary/wage/earnings have probably changed in some manner over the past two years.

BTW: I still get my candy bars (Snickers) for less than $.50.

[Sam Spade]

Originally Posted by emt1581

I'm watching Shawshank Redemption on AMC and they just flashed one of those story notes on how much Andy blew town with adjusted for inflation. $375K in 66 would be $2.5mil. today.

Now if we were to do the same with Silver, I wonder what, say 100oz. would be worth then and now.

Oh also....claiming a loss on taxes....anyone anyone?

Thanks

-Emt1581

Silver in 1966, about $1.50/ounce. Average hourly wage for a manufacturing job in 1966, $2.59, federal minimum wage, $1.25. Call it 1 oz silver/hour for a burger flipper, 2 oz for skilled labor. And just to make another point, that's about 10x the rate pre-industrial revolution, where an ounce of silver might be a day's wages.

Today, $25/ounce, min wage $10.24, average across (I can't find a table for just skilled) in the US, $23.01. Call it 1/2oz for a burger flipper, 1oz national average.

[Sam Spade]

Originally Posted by Warp

...note that his salary/wage/earnings have probably changed in some manner over the past two years.

Aha!

Yes, if you remain stagnant as a worker, price inflation will leave you behind. If you don't enter a dead-end job, invest in yourself and become a more valuable cog, the increases in your standard of living outpace inflation.

[emt1581]

Originally Posted by Sam Spade

Aha!

Yes, if you remain stagnant as a worker, price inflation will leave you behind. If you don't enter a dead-end job, invest in yourself and become a more valuable cog, the increases in your standard of living outpace inflation.

Hence why I'm starting my own business.

Originally when I was hired, I could care less about raises and such. The job let me buy a nice home in the nicest part of town and pocket a bunch of money each month while buying lots of guns, my bike, boat, etc. Plus they gave me my own office with a huge window, secretaries at my disposal, etc.

But then after working there for a year and being originally told I'd be considered for a raise after 3 or 6 months....the other people I work with laughed at me. They said a cost of living increase every 10 years is about all I can hope for. Plus they have been through a few cycles of the employer we're subcontracted through changing hands.

That's when I started planning.

-Emt1581

[emt1581]

Originally Posted by Sam Spade

Silver in 1966, about $1.50/ounce. Average hourly wage for a manufacturing job in 1966, $2.59, federal minimum wage, $1.25. Call it 1 oz silver/hour for a burger flipper, 2 oz for skilled labor. And just to make another point, that's about 10x the rate pre-industrial revolution, where an ounce of silver might be a day's wages.

Today, $25/ounce, min wage $10.24, average across (I can't find a table for just skilled) in the US, $23.01. Call it 1/2oz for a burger flipper, 1oz national average.

In other words if you would have saved a suitcase with 1000hrs worth of silver compared to a 1000hrs worth of dollars, it'd be quite a massive difference in buying capability in today's market....yes?

-Emt1581

[Warp]

Originally Posted by emt1581

In other words if you would have saved a suitcase with 1000hrs worth of silver compared to a 1000hrs worth of dollars, it'd be quite a massive difference in buying capability in today's market....yes?

-Emt1581

...and who in their right mind would hang onto raw cash for 46 years instead of investing it in something?

For example, the S&P, from June 1 of 1966 to June 1 of 2012...nearly a 16 fold increase.

Even a risk free US treasury security would have paid off a bunch more than holding cash.

Comparing anything to straight cash...esp over 46 years...why?

[Lone Kimono]

Silver is 26.40 today. My question is how much do you realistically need to have it be useful SHTF?

[UneasyRider]

Originally Posted by Lone Kimono

Silver is 26.40 today. My question is how much do you realistically need to have it be useful SHTF?

Silver has two uses in a financial meltdown. One is to see you through it and the other is to make you rich. It's up to you.

[Lone Kimono]

Originally Posted by UneasyRider

Silver has two uses in a financial meltdown. One is to see you through it and the other is to make you rich. It's up to you.

Thanks, UneasyRider. I can only afford to get maybe 20. Just not sure how much that would help me, compared to a few cases of ammo for example.

[Catshooter]

Lone,

Although you don't say 20 of what, if it's ounces then unless I was totally preped in most other areas I'd skip silver. Gold and silver are hedges, but you can't defend yourself with them and you can't eat them. They most assuredly have their places, but that isn't at the top of preps.

Priorities sorta follow the handy rule of threes:

Three seconds is too long with no way to defend yourself.

Three minutes is too long without air to breathe.

Three days is too long without water to drink.

Three weeks is too long without food to eat.

You get the idea, I'm sure or you wouldn't be here.

Good luck.


Cat

[Lone Kimono]

Originally Posted by Catshooter

Lone,

Although you don't say 20 of what, if it's ounces then unless I was totally preped in most other areas I'd skip silver. Gold and silver are hedges, but you can't defend yourself with them and you can't eat them. They most assuredly have their places, but that isn't at the top of preps.

Priorities sorta follow the handy rule of threes:

Three seconds is too long with no way to defend yourself.

Three minutes is too long without air to breathe.

Three days is too long without water to drink.

Three weeks is too long without food to eat.

You get the idea, I'm sure or you wouldn't be here.

Good luck.


Cat

Sorry about that, I was very cryptic by only saying 20. I meant to say 20 silver eagles. I appreciate your advice. I'm going to put that money in food and ammo instead.

[Catshooter]

No problem, I thought that's what you meant but didn't want to assume so.

I think that is the better way to go.


Cat

[BR549]

Originally Posted by emt1581

Oh also....claiming a loss on taxes....anyone anyone?

-Emt1581

Do your own homework...somewhere other than GT.

It's easy to find the answers...easy to understand...easy to put together...

As long as it's the truth....

[jlavallee]

Originally Posted by Sam Spade

Wrong question. Since I'm not a coupon clipper, I don't pay for things in dollars. I pay for things with my labor, and the dollars are just markers for that.

So the correct question is, "how long do I have to work to pay for something?"

When you ask that, I'm pretty even over the last 2 years. Housing requires less of my labor, gasoline a bit more, food less, entertainment less, insurance less, and so on.

You have the proper mindset but what really matters is value of savings. If you have no debt and don't want to work forever, there is more to consider.