It just won't stop: another 331K oz delivered to comex vaults, bringing the total to 38.3MM, just shy of the post-covid record high. At some point soon there will be a failure to deliver default. pic.twitter.com/U3RNBWtDtI
— zerohedge (@zerohedge) February 21, 2025
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Got my popcorn, Krugerands and silver Eagles just waiting.
Question: will the audit of Ft Knox trigger collapse of Comex and then equities?
Askin’ fer a fren….
I would bet that the US dollar will collapse faster.
Where is all gold we plundered from all the countries we invaded as enforcers for the ‘City of London’ (not London the over run city) the head of the Globalists demonic ‘Money Changers’ financial snake?
Come on…my best guess is its in the vaults under Wall Street…now there would be a place to AUDIT!
There is currently an 8 week lead time on delivery, the default has already happened. Europe is being strip mined for gold by the US. Much the same way the Chinese have been quietly doing to the west for years.
Prepare to see the real gold price very soon. Manipulations cannot continue forever and the end of it is soon.
Right now is a good time to invest in silver. Silver is the Poor Man’s gold. When the price of gold goes up silver will out perform gold percentage wise. If the price of gold doubles, the price of silver will quadruple. And lookout if silver ever goes back to the 15 to 1 ratio. If you’ve invested in silver that would make you a very rich man!
While I do have a fair bit of PM, in what way do you say I’ll be a very RICH Man?
I’ve a real Weimar Republic Million Mark Bill (they saved money printing only one side of the bill LOL) along with plenty of other “High Value” (at one time) paper monies made into a picture frame in front of my computer station.
None of them will buy me a cup of coffee at Mc Donalds.
In the early Victorian Era, a Fine Men’s suit cost about an ounce of Gold.
Today it still costs about an ounce of Gold.
PM’s are a STORE OF EXCESS WEALTH. They Preserve the value you put into them.
If you have in today’s dollars 10K in Gold, then when the dollar freefalls you should when the situation settles down have the equivalent 10K “Value” in whatever is the new coin of the realm.
Exactly!
$3k for a suit? You must have a fine wardrobe!!!
LOL you need to get outside the woods friend. My daily around the farm and work wear is more Walmart-Columbia level.
My Tailored Dress Blues were that expensive. Happily, I “needed” only one set.
Seriously Joe, while the fine suit (which included shoes-boots and all that) is a good way to cross time money comparisons. Kind of hard to judge the gold cost of a Victorian era snuff box today.
Precious metals are not magic, just stable values in an unstable paper-fiat money world. You may get briefly a boost in the chaos of prices bouncing around but in the LONG RUN the same thing an ounce of Gold bought 50 years ago is about the cost of that gold today BUT with the craziness of fiat inflation.
Didn’t see edit button but TODAYS melt value of 5 silver quarters is:
$29.35
That means 15/29.35 = our us money fell almost 50% since 2016.
And plain jane Walmart GV 60 pack of eggs yesterday was almost 30 dollars. Not free-range organic eggs. Restaurant level bulk eggs.
And it’s going to get worse before it gets better assuming that Trump’s folks win against the parasites and Deep State warlords.
Like the suit/gold rule of thumb, one ounce of silver per day was the wages for skilled tradesmen.
So, with that in mind, silver is extremely under valued in today’s market.
Ratios change all though history.
Value is what you can get for it.
At one time a silver dollar was worth a mans daily wage.
Haha. The last suit I bought was in the early 90’s, I think it cost around $500 then (not including shoes). It has served me well enough… many weddings, funerals and gotten me two jobs in the engineering (electrical) field. But no way would I spend 3 grand on a suit like that (even though I do look great in it :).
Actually I have this same argument with my brother all the time (he owns and operates a small gold mine in northern Nevada). He thinks gold is headed for 10K/oz, I think we’re in a speculative bubble. My argument is: the price of gold in 1910 was 20.67/oz. From what the google and most other sources say, due to inflation the dollar has lost 97% of its value since 1910 so a dollar then was worth about 33 times what it is worth today. Thus, based upon inflation alone gold should be priced at 33 x 20.67 = $682 / oz.
https://www.in2013dollars.com/us/inflation/1910
My bro says I’m full of $hit, there’s no way he could even operate his mine for $682 / oz but he can’t give me a reasonable explanation for $3K right now when he was doing fine 10 years ago when gold was around $1200/oz. There’s no way costs have gone up 2.5X since 2015.
Another data point: price of a dozen eggs in 1910 was around $0.28 so a one ounce gold coin would have purchased about 74 dozen eggs. I just bought a dozen eggs for $4.09… with the same gold coin @$3000/oz I could have bought 733 dozen eggs.
Of course it’s waaayyy more complex than a simple calculation which doesn’t take into productivity, offshoring, etc but I’m still of the opinion that the price of gold is being driven more by speculation than “Bidenomics”.
$387.00 per ounce
In January 1990, the gold price was $387.00 per ounce3. This was a period of inflation-adjusted gold prices, and the price has been fluctuating over the years since then
Joe said ” Haha. The last suit I bought was in the early 90’s, I think it cost around $500 then (not including shoes). It has served me well enough… many weddings, funerals and gotten me two jobs in the engineering (electrical) field. But no way would I spend 3 grand on a suit like that (even though I do look great in it :).”
You were saying Joe? Now add in a nice pair of shoes and a hat for it.
Did you spend an ounce of gold, sir? I bet you did.
Which is exactly my point. I did spend the equivalent of an ounce of gold on it. But that was back then. Maybe that same suit (if I include some really expensive shoes and a nice hat) could conceivably, possibly, cost up to $1500 today but there’s absolutely no way it would cost 3 grand (1 oz of gold today). So, during that time gold has risen MUCH more than that suit. In fact more than 30% of that increase has occurred during just the last year. And that’s mostly due to speculation which historically means we’re potentially in a bubble situation.
Did prices of other goods go up by 30% in the last year?
Chuckling Joe, you win.
You DID spend the equivalent of an ounce of gold in 1990 for a suit. Glad you agreed.
Now you’re saying you’d never spend an ounce of gold for it today.
Maybe true.
Ever hear of price manipulation, friend? As in this case suppression of the real value of gold? Seems a lot of folks here discuss it a lot.
I’m SO TIRED of being in an era of Historical Price Increases every damn week. Aren’t you?
Now please explain Stagflation, friend.
It’s pretty likely you know.