Gold & Silver

Explorer · #1 11/04/10, 07:49 AM

Silver has risen to 25.530, up +1.094 (+4.40%) overnight. Gold and Oil are both up about 1.5% also.

This is all due to the quantitative easing of injecting money into the US economy. The dollar has fallen and will continue to fall into the near future. All commodities will increase in price. Interest rates will be near zero and the stock market should rise over the coming weeks. I expect inflation to shortly by over 5% officially, with food inflation near 15%.

I have restarted my food and consumables stock up program and received a large shipment from Emergency Essentials yesterday with more to go.

I wish everyone good luck in the coming US dollar decline.

MichaelK! · #2 11/04/10, 08:35 AM

Quote:

Originally Posted by Explorer

I have restarted my food and consumables stock up program and received a large shipment from Emergency Essentials yesterday with more to go.

I think you'd get more bang for your buck making bulk purchases of wheat/corn/beans/rice rather than depending on mail order supplies. A 20$ grain grinder is worth more to me than 20$ worth of MRE's. Twenty dollars will even buy you 10 cans of spam right now.

Besides gold and silver, I'm also stocking up on lead, brass, and steel!

PhilJohnson · #3 11/04/10, 08:38 AM

When I heard about another round of QE I got to thinking that maybe it is time to start really preparing for the reality of a declining dollar. The cost of fuel going up will be the first thing to affect me. I am worried that the dollar will loose it's reserve status and then we'll see a huge fast decline in the greenback before I can adequately prepare.

Wisconsin Ann · #4 11/04/10, 08:39 AM

Pretty much expected the $$ decline. The European countries are all on the mend with their economies..most notably the U.K. So, with the uptick in the EU, and the Asian countries on the rise...well, SOMEONE has to go down. And that would be us, I suppose. <sigh> Some are still struggling, but then those almost collapsed.

on the upside..when the US $ is down...our export goods FLY off the shelves..and people reduce buying imports because of the price. That helps our deficit balance out. Also helps with tourism. When the $$ is high, we see fewer tourists from overseas. And tourism is big money for most of the country.

As to silver and gold. ... well... YAHOOOO!!!!! Now I have to figure out if I want to keep saving the metals, or go ahead and sell some to buy something for the cellar.

Explorer · #5 11/04/10, 09:23 AM

I'm diabetic so really can not eat much starch. I have eaten all the MRE's I ever intend to and Spam is a treat ever ten years or so. I am stocking long term storage meats and veggies.

While I think there is still a lot of upside to G & S I have all I need or the intermediate term and that is for coming out on the other side. There are better commodities to stock right now.

Europe will be in the dumps before the US.

mpillow · #6 11/04/10, 09:49 AM

Having spent almost $40k of savings this year on things we needed to see us thru a rough patch...a newish truck, a bigger ATV, a rice rocket of a car (used), paying ins. and taxes ahead, and my daughters orthodontics's bill...our garden was very bountiful and the pasture is full of meat on the hoof and wing...some metals in store...guns and ammo and good hunters...I have no room left other than the gas/diesel/fuel oil tanks...my brother is in the fuel oil/furnace business so I know I'm covered...and he has covered his purchasing power....the first time money got printed under Obama's watch.

bee · #7 11/04/10, 11:17 AM

Down a little from it's high but still WAAAYYY up for the (not finished)day. Could still drop like a rock, has before. I am with Ann... I have a PM cushion that I will keep in place but recently made a few "good price" purchases that I may convert to propane tanks and sugar; take my proffit now and convert it to storable consumables. LOL!! NOT my "wearable wealth" silver bracletes tho!!

SquashNut · #8 11/04/10, 11:19 AM

Beans are good for a diabetic, lots of soluble fiber.
We store lentles because they cook faster with no soaking.
we are going over our stores this week, trying to figure out what we need to top off with. I notice flour was up last time we went to the resturant store.
I ordered some stuff on line once and for the money, I can do so much better at the resturant store. You do have to come up with a good supply of buckets though. The one thing I did find on line was the egg mix. I wasn't able to afford alot of it, but it will be nice to have for in between egg purchases. Lately I have given in to pkg mixes for storage as they get used up pretty quick. Since there is no money for resturants.
The rabbits did well this summer, so I will have to can when I butcher the next time.
As far as metals go, I fear they are in a bubble and every one knows what can happen to a bubble. So for us it is tradeable items and food storage for now.
To me garden seeds are worth their weight in gold and way cheaper.

7thswan · #9 11/04/10, 11:26 AM

Thanks for all the suggestions. The weather has cooled and it wont hurt in the elec. department to fill my 2 empty freezers with some of the items mentioned here. I'll cann any Vension I was saveing those freezers for.

TacticalTrout · #10 11/04/10, 12:51 PM

Quote:

Originally Posted by MichaelK!

I think you'd get more bang for your buck making bulk purchases of wheat/corn/beans/rice rather than depending on mail order supplies. A 20$ grain grinder is worth more to me than 20$ worth of MRE's. Twenty dollars will even buy you 10 cans of spam right now.

Besides gold and silver, I'm also stocking up on lead, brass, and steel!

Not sure if you've hit Emergency Essentials before or not, but they sell some implements and bulk food as well as the MRE's and what not. They have the 30qt AA Pressure Canner right now as low as I've found it on the web, a decent manual grinder on sale for $60 and I have found that their super pails of wheat and other grains to be cheaper per pound than I can get it locally and I don't have to spring for buckets, mylar bags or O2 absorbers if I am looking for long term storage. They run free freight promos (aware of that trap) and have proven to me to be a good company to deal with.

I pass up the SPAM and do the TREET thing as that $20 bill doubles at present. I'm with you on the other precious metals

I've been feeling anxious for the last couple of weeks and it's being discussed on another forum that I spend time (too much) on. I have let my guard down somewhat over the last several months and haven't concentrated on prepping as I was letting it consume me to a point. The increase in food costs is apparent at the local stores and I agree with others that this is likely a trend to continue beyond the normal seasonal variances.

**Roadking** · #11 11/04/10, 12:51 PM

Up $45.10 for the day. It's gonna drop, probably friday noon-ish. Hunch.
Most of my G & S are in the form of the coins I collect as a child and teen...I remember getting 5 half crowns, 1984 issue (olympic), 1/4 oz at an auction once for $7. For all 5. Nobody cared about the price of gold at that time...LOL! And being non US coins, no one wanted them. Except me. :-)
Matt

stanb999 · #12 11/08/10, 12:44 PM

BTT...

Silver is having a nice run up again today. 27.50 @ 12:44

Nice.

Blu3duk · #13 11/08/10, 09:01 PM

And Gold closed over $1400.00 for the first time in history...... still under the inflation mark in 1980 dollars when it closed over $800.00 but i was a just a kid back then..... still in highschool and didnt know anything..... still dont according to some folks though.

Nice thing about gold, It is still found in nature in all 48 lower states to one degree or another, with the right equipment and determination anyone can go out and extract it from nature. I sold a couple pans just last week to an another beginner prospector, and will answer any questions i can on the subject that i can field or direct a person to where they can get the answer they seek.... One nice thing to remember if you find it in nature, it dont "have" to get reported that very day!

William
Idaho just west of "the cultural hub of the universe"

Explorer · #14 11/08/10, 09:18 PM

Quote:

Originally Posted by stanb999

BTT...

Silver is having a nice run up again today. 27.50 @ 12:44

Nice.

Both gold and silver (+oil) were interesting today. The price of all three rose as did the Dollar. They are a good indicator of future rapid inflation we soon will be experiencing.

**Roadking** · #15 11/08/10, 09:29 PM

[QUOTE=Blu3duk;4741189] and will answer any questions i can on the subject that i can field or direct a person to where they can get the answer they seek.... One nice thing to remember if you find it in nature, it dont "have" to get reported that very day!
QUOTE]

My boys wanted to try it this summer, panning, that is. So, like a good dad, made a pan, plus used a bunch of strainers and filters...wasn't going to go all out as my kids are young, and persuits disappear quickly...so we did it on the cheap.
By researching the web, I have found out that there has been gold found around here...not substantial, but enough for a hobbiest.
Well, long to short...found some particles that pretty much look like AU...how do you tell for sure? I'm not talking nuggets...more like lil flecks?
If, in fact it is actually AU, might have to get a little more serious in our little mountain creek

...kids are already looking to do more in the spring...
Matt