/biz/ - Business & Finance

"If the American people ever allow private banks to control the issue of their currency, FIRST BY INFLATION, THEN BY DEFLATION, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - THOMAS JEFFERSON

"When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power -- proven to exist by the Monetary Trust Investigation -- will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created."

-Charles August Lindbergh Sr.

NEVER SELL YOUR GOLD FOR INCREASINYL WORTHLESS FIAT.

gold going to 2k/oz just means the dollar got more worthless. The gold price isnt going up because of demand for things like jewelry. 20 years ago gold was about about 300$/oz....today gold is at $1,500/oz

The demand for jewlery has not quintupled in 20 years with peoplep poorer and in more debt than ever.

>>15491000
trips of truth

>>15490988

>>15490988
I am not interested in gold at all, gold is such a pretentious thing, I support coins and i have already invested in coins and profited a lot and will continue investing in coins like Telecoin and TELEX.

>>15490988
You sir much like myself are a serious investor and like myself will remain wealthy

>>15491307
And then gold mooned 30% day after the good goys turned in their gold

>>15490988
Based thread.

>>15491000
based jefferson
i despise these doomer goldfags but that man knew his shit

In 1970 an ounce of gold would purchase a good men's suit. In 2019 an ounce of gold will still purchase a good men's suit. This is all you need to know.

>>15490988
Bitcoin maximalists are betting on fiat collapsing.
Goldbugs are betting on civilization and infrastructure as a whole collapsing.

I find your worldview rather jaded and antisocial.

>>15491000
Prophetic

>>15491332
Fuck off nigger with your shit coin

Bro, gold had a good run, but what is the point of holding yellow metal? We already got LINK now.

>>15490988
whats peoples opinion on digging your own gold on here? I ve panned / hand mined about 40 ounces this year off my placer claim in northern BC. thats around $81 thousand.

Its not the easiest ways to make money but it sure beats buying the stuff from a bank.

>>15491951
That's pretty awesome

>>15491951
how do you know where to look?
where can i start digging for gold?

>>15491951
I want to come pan with you!

>>15492008
Use old maps and local history, find out where your close to old mining and work from there. 99% of my winter revolves around researching new areas to look in.

Also, if your in the states, dont go panning or hand mining on someones claim, its not only a dick move you can get shot over it.

>>15492010
I work alone sorry but I am basically done for the year, my claims high altitude and winter will be coming in soon, plus i ve run out of water until the spring.

>>15492064
Whats it cost for the claim ?

>>15490988
OP
some asset prices will rise more than others or fall more than others. Bitcoin may raise faster than gold.
From a weimar book...im summarizing
people who held gold during the inflation were able to buy real estate for a few couple ounces. The point is, to use that increase price of gold and silver and exchange it for another asset class like real estate so when "the problem" is eventually sorted out, you are cash flowing in the new adjusted fiat currency while everyone either off'd themselves or lost their homes and are not eating out of a garbage can.
To further reiterate the point:say you buy gold 10z of gold at 1500. the gold goes up to say 8000 per ounce but real estate is selling for pennies on the dollar, yousell the gold for real estate and then once the finance people of your country get their shit together

>>15491951
ill buy nuggets from you, where do you sell that shit?

>>15491606
In 1970 Gold was $38 because US$ backed by gold in 1970. Just on increased amount of US$ put into circulation alone since Gold should be $6000. Not (including $22 trillion US govt debt) Your 100% Somali and too .

>>15492112
>1
i got mine from the government off the mineral titles website. $100 is the standard price. issue is you usually have to go buy one off someone else as 99% of the good ground belongs to people already.

>>15492202
i sell them online in the off season, usually on ebay or kijiji, i ll probably start selling in october. i have nugs up to 7 grams, i sell by the gram.

>>15492275
its probably been a good year with cad-gold being so high. Do you ever do any gems or minerals? Oh thats awesome ive always wanted a nugget or some crystal. No way you want to out yourself is there? That is so neat you get to work for yourself in that environment. Honest living.

>>15492295
Its actually been a horrible year, weather was terrible for 3 months of the summer and it made mining nearly impossible. I kept getting flooded out of my holes. However now that I know this ground is stellar I can get permits to machine mine it next season and make a killing.

I used to mine emeralds and aquamarines in the Revelstoke area but that regions gotten so enviro crazy I cant make a living at it, gold is where its at.

I love this job, it started out digging holes for other people now I dig for myself mostly, if you know what your doing and are on good ground you can make serious money in a season.

>>15491034
>NEVER SELL YOUR GOLD FOR INCREASINYL WORTHLESS FIAT.

So youre saying eventually we should just trade our gold for things like real estate etc? Or just autistically hold it forever

>>15491307
only boomers & npc goodgoyim would give their stacks to the goverment jew.

>>15492365
exahcnge for other real assets that are way overvalue compared to gold and silver right now.

>>15492318
What kind of machinery are you using? Is it a big investment? Do you need special permits to dig the ground? How do you find old maps? Do you like your job?

>>15490988
Based gold poster.

>>15492444
for hand mining you need a bunch of different gear, depending on the type of ground your dealing with. Highbankers and dredging is one way, rockerboxes and sniping is another.
My ground is a high bench with usually limited water, so I used a rocker box to mine most of my gold.

For mechanical mining, watch that show gold rush on discovery channel, you need an excavator, a wash plant to separate the gold from gravels and aux equipment like pumps lights generators etc. Yes you need permits which usually arent to expensive, its your environmental bond thats the crazy bit, its scaled to how much land you disturb, so if its $1000 per acre disturbed, and your going to disturb 40-50 acres, it gets rather expensive fast.

Check your local museum or google your area with the term (gold panning) or prospecting attached, from there you can start looking in to the different regional historys. For BC the major gold belts are the boundary, the Fraser / Thomson River drainage, the Cariboo gold fields, the Omineca gold fields, and the Atlin region are the major areas of gold discovery.

And finally yes I absolutely love this life, I spend all my summer outdoors digging or exploring new ground.

>>15491307
Turn in my gold?
What gold?

>>15490988
Op is one bad mf’er who knows whats up
>>15491951
And you too bro

>>15491951
That’s a superb way to make money. Keep you fit , your doing something real and positive for the economy (basically the opposite of the Fed) and the knowledge and experience you’re building absolutely going to make you rich! Nice work Sir!

>>15491332
And what will you do if the US pulls the internet killswitch the intel agencies have? Or if Israel, through their complete infiltration of US intel and digital infrastructure, pull it? A lot of good coins written to a blockchain that doesn't exist anymore will do.

>>15491618
>Bitcoin maximalists are betting on fiat collapsing.
>Goldbugs are betting on civilization and infrastructure as a whole collapsing.
And what do you think will happen to governments and civilization when the fiat they are propped up on collapses? Gold will be worth something whether it's the stone age or the silicon age.

>>15491034
Literally every Bitcoin maximalist says the exact same thing

>>15491034
Nah, I'm gonna sell some paper gold for some fiat tomorrow at the open, then use that fiat to by a triple leveraged ETF to ride the stock market gains to a new ATH, unless don tweets something that makes me cash that out and swap it into the vix instead.

THEN, maybe I'll use the cash from the trade to buy shiny rocks.

>>15493683
its brutal work but its worth every moment.

>>15491618
No, I own gold because I'm betting that people increasingly lose trust in fiat currencies because of the insane money creation by central banks.
If I was betting on civilization and infrastructure as a whole collapsing, I'd invest in lead.

>>15494439
Legit as fuck bro! This guy is high IQ and as wealthy as R Kelly’s lawyer. Listen up fools

>>15490988
>>15491000
>>15491008
>>15491034
>>15492010
>>15492403
fuck off schizo we aren't buying your rock bags

>>15494358
That dragon is so based.

>>15490988
But an ounce of gold was never ever worth $300k in 1970 or 1950
Correct me if I'm wrong though

>>15491951
it's a nice way of making a living

>>15494582
gold is metal, not rock

i'll buy gold anyways, don't care for the money. I just appreciate it and am willing to spend my monthly income on it.

>>15494582
No one asked you faggot

>>15492127
>people who held gold during the inflation were able to buy real estate for a few couple ounces

This shit is a fucking urban legend. There is literally no source that proves this.

>>15492127
yeah I'm gonna need a source for that.

I'm all for gold and believe (know) that it's the safest way to preserve your wealth, but I don't see it as a real "investment", what it does is beat the inflation and mantain value over time. Backed by 5000 years of history. This also includes market crashes, etc.

>>15495076
Correct!

But there are some things here that we should ad.

Lets take this from the top, 1910s in the US a regular worker earned around 400usd. Gold price was 29usd, 13ounces of gold/year. 400usd was enough for one man to support a family pretty well for that time.

Today, relative to the standards of today, a man needs to earn maybe 40 000usd to have the same relative lifestyle as in 1910s. Thats 26-27ounces/year.

Now lets purge the system as he said.

That means there is less money in circulation, no fiat. The value of money goes up. And if money is backed by gold its easy to divide money/ounces of gold. And since there is maybe 10-15k of paper dollars per ounce of gold the price of gold is roughly 10-15k usd.
At the same time the dollars value has increased.

Combine that with the unavoidable truth that the price of goods will drop in value more than the price of money has gained, especially used goods. You get a tripple lever effect on gold and silver.

For example: 10ounces of gold today, 15k usd, buying power of a used car.
After purge
10ounces of gold equals to 150k usd, buying power of 15k is two used cars.

>>15496358
>10ounces of gold today, 15k usd, buying power of a used car.
>After purge 10ounces of gold equals to 150k >usd, buying power of 15k is two used cars.

that sounds a bit more realistic. Some people claim to be able to buy house for a couple of oz, I don't see that happening (but I would love if it did desu, tbqh, senpai, smt)

>>15490988
>The primary function of money is to MEASURE VALUE of goods exchanged for it
No it's not you fucking retard, the primary function of money is to facilitate exchange and investment and fucking shiny rocks suck at that.

>>15494439
>No, I own gold because I'm betting that people increasingly lose trust in fiat currencies because of the insane money creation by central banks.
Money is created by private banks extending loans today, the central banks function is lender of last resort they don't exactly "control" the money supply the private sector does. Retards have been "betting" on this since governments got off the gold standard and it hasn't panned out and there's even more fiat options today than then like crypto.

>>15496358
Why should a random individual be concerned about the value of a random commodity like gold? You seem to want to cause an economy crushing massive deflation to engineering a massive transfer of wealth to people hoarding gold. Do you know the distribution of gold today and who would benefit from this most?

>>15496492
>Retards have been "betting" on this since governments got off the gold standard and it hasn't panned out and there's even more fiat options today than then like crypto.

it hasn't YET panned out since a huge advance in technology permitted the dollar to be artificially inflated through many different typical tricks. It eventually will.

>Why should a random individual be concerned about the value of a random commodity like gold?

to preserve their wealth during times of turmoil?

>Do you know the distribution of gold today and who would benefit from this most?

yes, of course. It would benefit the (((usual suspects))). True wealth should be labor-backed. However, this is the reality atm and has been for the last few thousands of years.

>>15490988
This is so incredibly far fetched. Why would they ever even do this? A lot of gold is in possesion of a country like India. No ''sane'' american holds gold.
You're way better off taking a gamble on some shitcoins, and it's like 1/10th of the price to do so.
>spending 13k for the 1/1000000000000000 chance gold gets revalued and some economic reset happens
You have to be absolutely retarded to shill an idea like this as a potential way to make it.

>>15496553
>it hasn't YET panned out since a huge advance in technology permitted the dollar to be artificially inflated through many different typical tricks. It eventually will.
Well if you start from the premise "it must" you're already setting yourself up here. There's no clear distinction between "artificial" or "natural" with this, just a market price. The dollar will always have some value because people have to buy it to pay taxes, there would have to be a breakdown in the governments ability to tax for it's theoretical value to go to 0. People buy dollars because they're a very liquid instrument, there's plenty of people willing to take it and you can get rid of them quick when you want to.

>to preserve their wealth during times of turmoil?
There's notting wrong with the idea of buying a bunch of shiny rocks to sell when their price goes high but there's no difference with other options on the table. You're just betting they'll get better gains than other options which is questionable.

>yes, of course. It would benefit the (((usual suspects))). True wealth should be labor-backed. However, this is the reality atm and has been for the last few thousands of years.
Special interests benefit from high gold prices (i.e. whoever has the most gold) and would get a even bigger advantage if it became the only legal tender. Gold was the only practical option for thousands of years because of its special physical properties but it's not like it has that monopoly any more with the digital ability to record transactions transparently. Even taking the hypothetical (which 99.9% won't happen) of a total breakdown in government fiat you're assuming special interests are going to either succeed in convincing governments to buy gold and only accept it or people will basically voluntarily do this to the benefit of the gold owners instead of other options.

>>15496492
Well yes, ofcourse i know who owns the most amount of gold. States and (((them))).

There is no other solution to it. It must happen, the transfer of money to those with gold might be the only way. How the fuck should i know?! I just hope something happens because this existing shit is destroying Everything.

And i just made that example up to show the relative value of things.

>>15496770
>No, I'm not. I'm not the anon that said you would be able to buy houses with some oz of gold. I just believe it's the safest way to preserve wealth, not increase it. Is it better than crypto? Yes, the more things you have to rely on working, the less secure the system is. Crypto would have to a) be accepted as common currency, which would require a tremendous amount of conditioning for people to accept. Even today, most people think of crypto as "funny money". b)internet connection has to be 100% working and mobile. Gold on the other hand does not. If you want to take it to the extreme, even gold won't be worth shit in a shit hits the fan scenario, only guns, antibiotics, food and fuel would work. On a more realistic scenario, I definitely would trust gold more than crypto or real estate.

>Gold was the only practical option for thousands of years because of its special physical properties but it's not like it has that monopoly any more with the digital ability to record transactions transparently. Even taking the hypothetical (which 99.9% won't happen) of a total breakdown in government fiat you're assuming special interests are going to either succeed in convincing governments to buy gold and only accept it or people will basically voluntarily do this to the benefit of the gold owners instead of other options.

I agree with you but the powers that be would always push for a non-gold standars since they would benefit a lot more from that while hoarding gold for themselves as true wealth. That's what the governments are buying up gold like crazy, they know a period of turbulence is coming, so they stock up on money, real money, not fiat papers. Having said this, I agree that it's possible other means of exchange would prop up alternative to gold during a crisis, just like barter. However, gold would still be largely accepted and preferred.