If you put 100% of all your wealth into gold coins it is impossible to lose. You could go into a coma for 30 years and wake up and be just fine. You could take a time machine back to 1322 or 300 BC. And you would be just fine as well.

Are you suggesting that if minimum wage workers were to be compensated in ounces of gold rather than USD they would have a higher standard of living?

I'm pretty sure I'd be fairly unfine if I went into a coma for 30 years. I'd wake up to find myself very, very old.

I'd be particularly upset if I took a time machine back to 1322 or 300 BC. Life was rather inconvenient back then, from what I understand. I also don't speak any of the languages that were popular back then.

A large chunk of the population are just starting to wake up to the fact that the technological system is not just unsafe and extremely insecure but also all interwoven and linked.Over the next few days and months many are going to want out of technology all together,they will discover that physical Gold and Silver is one of the few ways to retain and grow their wealth in one of the few stores of real wealth left.This will result in true price discovery which will lead to real and total scarcity in these true relatively undiscovered assets ( less than 1% of the population own much at all ),this will lead to a ” Free Price Market ” as the market is overwhelmed by mountains of unsafe fiat toilet paper where debt backed assets equal disaster resulting in the true price discovery of Gold and Silver.The FPM is going to scare the establishment ****less as the technological utopia they have created and forced down peoples throats is going to be renounced as people return to real wealth outside of the current system and vote with their feet and wallets as confidence collapses and reality intercedes.The Blue touch paper has been lit,there is no putting the genie back into this bottle as no one trusts any of it.The modern world has taken their jobs and their industries now even their debt backed token currency can be taken with a few strokes of a keyboard.Wherever the virus came from its of no consequence the entire system is not just deeply suspect it has just died.

Stackin its a way of life.

RIP to 99% of the populations debt backed ” Wealth “.

In 1964 gold was 35$ and min wage was $1.25

Today gold is $1,200 and min wage is $8.50 (roughly)

So it took you about 1 work week making MINIMUM WAGE to be able to obtain an ounce of gold in 1964

Today is takes you about a month working min wage to obtain that same ounce of gold.

So you're saying gold is at historically high multiples?

Sell gold IMO.

It is only 40% overvalued now

You are a cashier at Woolworth in 1964 making $1.25/hour (min wage) and you put all your income into gold for 52 weeks and have roughly 52 ounces of gold at the end of 1964. You don't touch the gold until 2017 and you sell all the gold and you get $62,500. So someone making min wage in 1964 had the purchasing power of someone making $62,500 today. Or, someone making $62,500 today which is good income, has the purchasing power of someone working a cash register making min wage in 1964.

Nobody in 1964 making $1.25 min wage was organizing marches with min wage earners chanting "fight for $4 dollars!" Why?? Because the dollar went a lot further! That's why! And gold prices reflect that!

You are a cashier at Walmart in 2016 and make $8.50/hour and put all your income for a year into gold. You have 13.6 ounces of gold at the end of the year. Go back in time in a time machine to 1964 with those 13.6 ounces of gold and sell it for fiat, and you have 1/4th the purchasing power as the cashier at Woolworth who has 52 ounces of gold after her year of working in 1964

What are you guys not understanding about this??? This is so easy.

You know how football players sign a pledge to donate their brains for research after they die?

I wish goldbugs would do the same. I want to know what's wrong with your wiring.

Can't imagine what the wives and girlfriends (because lets get serious here, 99.99% of goldbugs are men) are thinking watching this solid bull market pass them by and they're ending up poorer because their stubborn guy just won't let go of his doomer fantasy.

You're better off hoarding cases of tuna than stacking coins

Read the post that I just posted above you and show me where I am wrong.

Also....it is interesting that you brought up football players...

I often think to myself, I should be the guy speaking about money management at these rookie seminars they have to get professional athletes ready for all aspects of life in the NFL, NBA, etc.

I'd tell them instead of worrying about saving your money and not going broke. All you have to do is take 25% of your contract money out of the bank, put it into gold, and spend the rest on houses, cars, gold teeth, watches, fancy vacations and so on with all the rest. Have 5 kids from 3 different women if you want too. No worries. And when you inevitably go broke, you'll have plenty of money off the books in gold and be able to get by just fine and not have to worry about paying child support.

Allen Iverson was making so much money in the early part of his career, or mid career whenever he got his first huge contract, he actually set up a trust to sock away 25 million I think it was and he couldn't touch it until he was 50 or something like that. If he had put that 25 million into gold coins back in the 90's when he locked away 25 million in the bank, he'd have the same purchasing power when he turns 50 as it had back in the mid 90's when he locked it away. Now that 25 million he locked away back then will only be worth about 10 million when he is able to collect on it.


So by trying to "save" money in the bank and not letting himself touch it until 2030 or whenever he turns 50, he actually would have been better off blowing 15 of that 25 million on hookers and coke than keeping it in the bank, and keeping just 10 million in gold coins back in the mid 90's to have the same purchasing power that he will have when he is able to unlock that 25 million when he turns 50.

do you ever wonder why everybody disagrees with you and think hmmm maybe I'm wrong?

gold is a shiny metal rock, no matter how many times you say "gold is money" will change that

Yeah...well inflation was starting to gain a foothold even back then I guess. Notice how you didn't respond to the substantive part of my post because you can't.

A min wage earner in 1964 made the equivalent of 52 ounces of gold a year. A min wage earner today makes the equivalent of 13 ounces of gold a year.

WHAT has changed?

Of course nobody agrees, they made gold illegal for a reason. To brainwash the masses into fiat fake money so the government could confiscate all our wealth via inflation.

If gold is just a useless shiny rock, then why did the govt make it illegal???

80 years ago the electorate was educated and understood gold was money. And the govt understood that all someone needed to do to protect their wealth from the money masters was to keep it in gold, place it in a glass jar, and throw it in the pantry.

Only westerners in America snd Europe believe debt paper is money. Most of the rest of the world understands gold = wealth and money.

TIL gold is illegal

2nd amendment.

Also... the very fact that confiscation is a possibility that hangs over the heads of potential gold buyers, is probably the best reason possible for owning gold.

If you think govt will make gold illegal, there is a reason for that. Which means it isn't just a useless pretty rock. They want you as slaves...they don't want you owning gold. They want you completely wiped out when the currency crisis hits us.

If you put the year of income into the S&P 500 instead of gold you would have more than $150,000.

FDR (aka the lying cripple) banned private ownership of gold in 1933. The people who turned in their gold for fiat lost 40% of their purchasing power in the next year.

How can the shiny metal guys not get this through their heads and yet they keep comparing hoarding gold/silver to storing your net worth in dollar bills?

Can you define the "they"? And what incentive do "they" have for wanting normal folks wiped out by a currency crisis? The current "they" that most people decry are currently doing so well with this system that wiping out the angry rabble seems like a death sentence to "they". It's the contrary, if there is a "they", "they" like the middle class right where it is today, if not maybe a bit healthier.

You can't trade stocks for food something something yada yada!

This was the greatest thread in 2+2 history. The way it showed the silver bubble and subsequent crash in real time with real participants and all of the emotion that goes along with it. That chronical should be taught in business schools to show what a bubble looks like as it unfolds. Filled with plenty of crackpots as well as rational participants from both sides.

But since the bubble burst it is just a troll war between Hawaii, Michael, Silverman, or mrmusic or whatever he will call himself next. Don't bite. this guy is a genuine tinfoil hatter but every time a new version of him shows up everyone bites and argues with him because he is 100% troll and that is what he wants.

Respect the beauty of this thread. Read the rise and fall portion often just as a reminder of what a bubble is and looks like but don't engage with this clown. It ruins the sanctity of this awesome historical internet exchange.

What post number should I start reading at if I don't have time to start at the beginning?

The biggest bubbles are still expanding as we type.

Start pretty much at the beginning and through the rise and fall. Once the bubble definitely burst the thread went downhill. The bubble burst occurs at around post 500ish. The first 800-1000 posts is very fun reading.