Is Silver next?

[stocknup]

Has anyone read "The Creature from Jekyll Island" by G. Edward Griffin? I'm going to soon as I've known about it awhile and the premise of how the Federal Reserve was set up for plunder with no plan to ever repay the debt. David Rogers Webb, who has the free download book and documentery on Youtube called the "Great Taking", interviews Mr. Griffin in this video. At time mark 1:06 they discuss how the fiat currency system might be addressed to repay the debt. The entire interview is quite interesting and Mr. Griffin is now 92 years old.

The Great Taking

thegreattaking.com

The Great Taking

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What a Great Read ...........Read it many years ago and have recommended it to many .
We have been but just a game to the elite .
Found this quick summary link :

https://www.hustleescape.com/book-summary-creature-from-jekyll-island-by-edward-griffin/

 

[smokingman]

What a Great Read ...........Read it many years ago and have recommended it to many .
We have been but just a game to the elite .
Found this quick summary link :

https://www.hustleescape.com/book-summary-creature-from-jekyll-island-by-edward-griffin/

The Creature from jekyll island was almost required reading at my high school. You had a choice between it and another book and had to do a report on one of them.
That was back around 1993, but I remember the Federal Reserve website back then(official) and if you clicked just a couple clicks in you could find the dividend information. 6% At that time it even listed private shareholders(they called them founding shareholders,who by the way had heriditary title to shares,but could not sell them or transfer ownership any other way) along with any banks in the system(every member bank has to be a shareholder).

Might be an eye opener for some(2016-2018) institution owners of shares in the NY branch of the fed,which is now actually 12 companies). via foi act https://www.institutionalinvestor.c...sk-who-owns-the-new-york-fed-heres-the-answer

*edit to add this article,for those interested. Chile, Peru, Mexico and Brazil are latam, the largest productive minning countries and yes China has contracts for not just silver, but concentrate from the mines and they pay a premium for it.

China Wants All The LATAM Silver (Part 1) | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Super Bee]

Dows taking a big, giant dump today.

Unemployment numbers going up higher that expected, Fed not cutting rates before election.

 

[snorko]

Dip continues with the spot ratio up to +/-89:1.

Couldn't resist a small order from Provident of these: https://www.providentmetals.com/1-5-oz-silver-coin-varied.html

Odd weight but Canadian and likely sovereign. Worked out to $28.03/oz.

 

[BluePig]

You know it is getting serious when you go to the gun show and all the Amish are clustered at the guys selling silver.
Never seen anything like that.

 

[snorko]

You know it is getting serious when you go to the gun show and all the Amish are clustered at the guys selling silver.
Never seen anything like that.

First I laughed then I was struck. Kinda like seeing deer flee the woods from a coming fire.

 

[BluePig]

I did get some APMEX 1 oz bars for $28 out the door at the show.
He had about 15 of them and had sold out when I left.

 

[racegunz]

I did get some APMEX 1 oz bars for $28 out the door at the show.
He had about 15 of them and had sold out when I left.

Curious, how do you think that plays out? You resell at higher price?
You use them for trade or currency if there’s a total crash?
Or what? Serious question

 

[Magyars]

Not silver, but it's certainly telling.

Central Bank Gold Buying Through First Half Of 2024 Sets Record | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Magyars]

Curious, how do you think that plays out? You resell at higher price?
You use them for trade or currency if there’s a total crash?
Or what? Serious question

I've been buying silver for a LONG time. The price continues to go up as the dollar becomes worth less ( inflation ). I envision a day when precious metals have value for trade/buying/ barter.
Some states have recently made gold and silver legal tender.
In a hyper inflation scenario I can imagine going to a coins store, selling gold or silver and running to the store to buy...whatever...say groceries before the fiat money becomes even more inflated. Think Zimbabwe, pre WW2 Germany .

 

[BluePig]

For trade purposes in the future or in case of crash.
I usually try to buy Morgan or Eagles and maybe junk quarters and dimes.
These were cheaper than those at the time, so I bought.
This is just my thought, we have been on the edge of recession for a while now. Things that can hold value are a far cry from paper money IMHO.
Whenever we go to a wedding, I always give the new couple a new silver Eagle with the year they are married.
Figure it is a nice present nobody else will give them and it nice remembrance that will hold some value.

 

[Bigdog357]

Curious, how do you think that plays out? You resell at higher price?
You use them for trade or currency if there’s a total crash?
Or what? Serious question

I do resell some at gun shows for a profit. one of my local gun shops is buying and accepting silver for gun purchases. I bought a gun with silver rounds from them in June and got a little over $30/oz for rounds. Also great for barter if the SHTF

 

[snapping turtle]

I do resell some at gun shows for a profit. one of my local gun shops is buying and accepting silver for gun purchases. I bought a gun with silver rounds from them in June and got a little over $30/oz for rounds. Also great for barter if the SHTF

I needs zero guns (all bases covered.)
So when I buy something it is mint old and collectible.
The table with the large stock of 9mm striker fired pistols and a few rifles is at the show to turn volume and he wants dollars to continue. Not normally what I would buy but if I see a diamond on the table I might buy in cash.
The guy who has the colt python in the glass case at 5k who really will never sell it is the type who I look to trade silver for blue steel and walnut.

My last trade of silver for blue steel was for a browning auto 22 from Belgium with the rear circle sight. He had it at a couple shows before I bought it. Estate item he said. The correct take down case and old paperwork including original hand written bill of sale. He has it price at the top of what they sell for and had inflation included in his asking price because he had it at 50 dollars more when I bought it from when I first talked to him about it.

I asked if he liked silver. He did. He took less (about 10 percent) in silver at current spot than he was asking in cash. I gave him silver that I had dollar cost averaged at about 18.29 per ounce At 24 per ounce so I got a discount (about 24 percent) on the silver value from what I paid to what I recieved. Total savings overall on the item to me was 33 percent almost.

He was happy and still is cause his 24 dollar ounces are going up in dollar value. I have the rifle which may or may not go up in dollar value with inflation
As collectibles only have perceived value until turned.

That is where trading silver for blue steel and walnut works for both parties.
I do not know what he paid from the estate but I think he got a good deal but it was something you just do not see for sale in mint condition with all the whistles and bells included.

 

[racegunz]

How do you confirm what you have is pure silver? Is there a method that’s reliable that’s easy and portable? I understand the coins would be better in this case but what about bullion?

 

[Mij]

How do you confirm what you have is pure silver? Is there a method that’s reliable that’s easy and portable? I understand the coins would be better in this case but what about bullion?

Typically you buy from a reputable dealer, and the bullion coins or rounds or larger bars will be stamped, .999, or some .9999. Indicating the % of purity. I believe coin or junk silver or pocket change is .925 %.

 

[Magyars]

How do you confirm what you have is pure silver? Is there a method that’s reliable that’s easy and portable? I understand the coins would be better in this case but what about bullion?

By recognizable coinage, pre 64 US dimes, quarters, halves, dollars. Silver Eagles...etc

 

[blain]

How do you confirm what you have is pure silver? Is there a method that’s reliable that’s easy and portable? I understand the coins would be better in this case but what about bullion?

The Sigma Precious Metal Verifier.
* Reliable
* Easy to use
* Portable

 

[racegunz]

The Sigma Precious Metal Verifier.
* Reliable
* Easy to use
* Portable

Looking like the cheapest option is still about a grand….. maybe something to have as an investment itself to facilitate trade?

 

[Mij]

Looking like the cheapest option is still about a grand….. maybe something to have as an investment itself to facilitate trade?

The traders you deal with have them. After all it’s their livelihood, you’re just another Joe off the street. Unless you’re dealing with low life’s.

Don’t deal with schmucks and you shouldn’t have a problem.

Don’t be offended if they ask you for ID if you sell. They are just covering there ***.

 

[blain]

Looking like the cheapest option is still about a grand….. maybe something to have as an investment itself to facilitate trade?

I look at it as a safety measure that could possibly pay for itself in a single transaction.
But that's just how I view it, others may see it differently.
By the way, honest people can buy fake bullion and not realize it.