Showing posts with label silver. Show all posts
Showing posts with label silver. Show all posts

Sunday, February 4, 2024

This is your periodic reminder that the net worth of U.S. households is $151 trillion but there's only $2.3 trillion fiat currency in circulation anyway

https://fred.stlouisfed.org/series/TNWBSHNO

https://fred.stlouisfed.org/series/CURRCIR 

Meanwhile all the gold and silver in the world hardly close the gap: 


 

 

Friday, August 17, 2018

Remember all those stupid ads on conservative talk radio a few months ago about a breakout for silver?

There was even this story about it in April, "Silver On The Verge Of A Breakout".

Silver's down about 15% since April 19th when the story was published.

What they didn't tell you was the expected breakout was to the downside, and "it would be really nice of you to buy all this silver I need to unload".

Silver soared to 48.70 in April 2011, but it's been all downhill from there.





Thursday, April 18, 2013

Twelve Times Today's Silver Price Means $279 Gold

Louis Woodhill doesn't get there by the same rule, but he's in the same ballpark in this story from May 2012, when the average price of gold was $1,586:


[I]t only makes sense that the gold price be set by the application of a rule, and not via discretion exercised by “experts”.

It is possible to imagine catastrophic consequences to setting the value of the dollar in terms of either a gold price of $800 or $1600/oz.  In The Golden Constant, Roy Jastram argued that, over time, gold maintains its value in terms of the general price level.  If Jastram is correct (and he may well be), the gold price that would be consistent with today’s general price level would be around $225/oz.

Based on the average price of silver in May 2012, twelve times that yielded $343 gold.

Plato's Gold/Silver Ratio was 12, Founding Fathers' 15. At this hour it is 59.7!


Socrates
Now answer this further question: you say that if one acquires more than the amount one has spent, it is gain?

Friend
I do not mean, when it is evil, but if one gets more gold or silver than one has spent.

Socrates
Now, I am just going to ask you about that. Tell me,  if one spends half a pound of gold and gets double that weight in silver, has one got gain or loss?

Friend
Loss, I presume, Socrates for one's gold is reduced to twice, instead of twelve times, the value of silver.

Socrates
But you see, one has got more; or is double not more than half?

Friend
Not in worth, the one being silver and the other gold.



-- Plato's Hipparchus 231cd

Friday, April 5, 2013

First They Came For Your Silver . . .

First they came for your silver (1964, last year minted).

Then they came for your dollar (1971, final year of dollar convertibility to gold).

Then they came for your tax deductions (1986 Tax "Reform" repealed deductibility of credit card interest).

Then they came for your mortgages (1997, introduction of two year rule to get you to borrow and churn).

Then they came for your banks (1999, allowed commercial banks to act like investment banks but with FDIC backstop).

Now they are coming for your bank deposits (2013, Cyprus), and not coincidentally, your guns.

Next it will be your 401ks and IRAs.

And then?

Of course there were other firsts before 1964, but these will do for now.