Although I believe gold is ultimately going higher, I sold my entire stash this week. I’ve been stacking for years and it went up so much this year that I decided to take my sure winnings.
I sold it all to friends who are fellow precious metals brokers. This way, if it goes a lot higher this week, I won’t feel bad because they won as well.
I kept my silver. Mostly because it is 100 times heavier than gold and I couldn’t deliver it without help.
I sold a bunch this week, too.
Awesome!! 10 characters
My mom was cleaning up some things and found a bunch of silver teapots, serving plates, etc. that belonged to her ancestors. We figured it was a good time to sell so I took it into a broker. We were hoping for a few hundred dollars… $3500!!
Sounds more like a touchdown than a field goal. Or, what would have been a touchdown?
A touchdown then The Ickey Shuffle followed by spike in the end zone.
To hold every ounce until the upcoming dollar crisis hits. That’s when we print so much money to cover all this debt, interest on the debt, and military spending that the purchasing power of our fiat currency (U.S. dollars) goes to zero because we’ve debased it so much through printing. Mathematically, as the purchasing power of our dollars goes to zero, gold goes to infinity.
Infinity is an interesting concept. Considering if gold goes to infinity, one would only need to hold a very small amount of it. Just enough that you can separate amounts of it that would be considered tangible. One coin oughta do it and would last several hundred, if not thousands, of years. And if technology progressed to the point where an atom of gold would be considered “tangible,” then one could get by for a long time with just a grain of gold.
No, it’ll simply stop trading and get washed out for something else. Grok says that at the current rate of decline, it’ll collapse in 2070. I’ll be dead by then, so it goes.
This comes from your excusable habit of pricing everything in dollars, instead of ounces of gold. For 6,000 years, an ounce of gold has purchased about the same amount of stuff. In other words, it held its purchasing power.
I’m trying to break this habit (it’s really hard) and price major purchases in ounces of gold in my head.
Anyway, what doesn’t hold purchasing power is the U.S. dollar. I wrote a short article on it here: The Story of Motel 6, or Why Home Inspectors Should Store Wealth - InterNACHI®
Not at all. My point was that with gold at an “infinite” level of value, even an atom of it (or more likely, a currently physical tangible form of it) could be traded for virtually anything. So as long as you have some level of tangible gold, you could get virtually anything anyone is willing to trade for it, and you could get it for the lowest tangible amount of gold possible.
Currently, I suppose a “grain” of gold would be considered the smallest tangible amount. But the day may come where an atom of gold is considered tangible.
Anyway, it was more a thought exercise on “infinity” than anything else.
No. As the dollar goes to zero and gold goes to infinity, gold becomes worth a lot of dollars (true), and even a little amount of gold becomes worth a lot of dollars (true) but those dollars are now worth zero in terms of purchasing power. Zero times anything is zero.
Already happening. The dollar lost 90% of its purchasing power in my lifetime. What you used to buy with one dollar 63 years ago, you now need 10. And 99% was lost in the past 100 years. What you used to buy with one dollar 100 years ago, you now need 100. Only another 1% left to go!
All fiat currencies throughout human history go to zero. So it matters not how many you can buy with your gold at that point. Those pieces of paper are worth nothing.
Right now, you can buy trillions of Zimbabwe dollars with a gram of gold, but with those trillions you can buy nothing.
Paper money is like a block of ice laying in the sun. Regardless of issuer, it’s all going to zero.
I guess the golden question is what did you sell/trade it for? Dollars? Yen? Ruble? Land? Silver? Bitcoin? 
Dollars, very temporarily.
Rare and durable. China bet on silver and lost. USA bet on gold and won. Now crypto may continue to give the USA a foothold. China has no answer to this…yet.
I bet on gold only because central banks around the world don’t store silver. Mostly because silver is 100 times heavier than gold.
