Buckle Up: Silicon Valley Bank Seized by the Fed

John Stark

John Stark

.44 mag
Messages
940
Reaction score
2,747
Location
IAM
spat said:
So the smallest gold coin is worth ~$200, and is physically so small it becomes difficult to handle as currency.

Silver coins can make sense for normal sized transactions though.
Click to expand...
You can buy 1 gram gold bars for less than $100, which puts in on par with a $100.00 bill. That is an easily tradable denomination of gold.

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion

Buy Gold, Silver, and Platinum bullion online at JM Bullion. FREE Shipping on $199+ Orders. Immediate Delivery - Call Us 800-276-6508 - BBB Accredited.
www.jmbullion.com

And WTF is so hard about carrying a few pieces of precious metals if the need arose? Its called a coin purse, and those can be small enough to fit in your pocket like a wallet.

My advice is to forget about actual, minted coins anyways. There is more value to be had in bullion.

Actual coins of precious metals are more expensive, because a fair amount of their value is counted on how "collectible" they are, which is a very precarious rubric for a storage of wealth. Today's "collectible" value doesn't translate very well in any SHTF scenario, where people are going to be weighing precious metals on scales to decide their value in trade and as part of any test to determine their authenticity. No one is going to give a shit that a gold coin minted by the US Treasury has a Mickey Mouse with a certain year stamped on its face in a grid down scenario. Also, "collectible" varies greatly except for the rarest of coins fall under that rubric.

Rounds and bars of bullion are cheaper to buy and available in nearly every size (grams to ounces to pounds) and numerous shapes. They do not depend on fickle "collectible" valuations. They offer more metal in all nearly all weights than most coins, unless those coins are also .999 pure in content (which put them on par a that point if we're talking about paper money being worthless).
 
spat

spat

.700 Nitro Express
Messages
29,623
Reaction score
62,357
Location
Formerly Geneseo, NY. Now free in AZ
John Stark said:
You can buy 1 gram gold bars for less than $100, which puts in on par with a $100.00 bill. That is an easily tradable denomination of gold.

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion

Buy Gold, Silver, and Platinum bullion online at JM Bullion. FREE Shipping on $199+ Orders. Immediate Delivery - Call Us 800-276-6508 - BBB Accredited.
www.jmbullion.com

And WTF is so hard about carrying a few pieces of precious metals if the need arose? Its called a coin purse, and those can be small enough to fit in your pocket like a wallet.

My advice is to forget about actual, minted coins anyways. There is more value to be had in bullion.

Actual coins of precious metals are more expensive, because a fair amount of their value is counted on how "collectible" they are, which is a very precarious rubric for a storage of wealth. Today's "collectible" value doesn't translate very well in any SHTF scenario, where people are going to be weighing precious metals on scales to decide their value in trade and as part of any test to determine their authenticity. No one is going to give a shit that a gold coin minted by the US Treasury has a Mickey Mouse with a certain year stamped on its face in a grid down scenario. Also, "collectible" varies greatly except for the rarest of coins fall under that rubric.

Rounds and bars of bullion are cheaper to buy and available in nearly every size (grams to ounces to pounds) and numerous shapes. They do not depend on fickle "collectible" valuations. They offer more metal in all nearly all weights than most coins, unless those coins are also .999 pure in content (which put them on par a that point if we're talking about paper money being worthless).
Click to expand...
And again I ask, if SHTF and some guy you never met wants to trade you 1 gram of "gold" metal shot for some food, what value are you going to give him for it ?

How much gold do you think is in there ?
 
prambo

prambo

.475 A&M Magnum
Messages
18,451
Reaction score
43,562
Location
P
There's a lot of speculation that "they" will use the impending financial shitstorm to bring in CBDC, as a response to "volatility". :rolleyes:o_O

It's just an excuse and won't fix anything - except "they" will now control your $$$$ and, thus, you.

Fuck'em.

The following article makes the point that CBDCs will actually lead to hyperinflation.

Central Bank Digital Currencies Would Bring Hyperinflation | Daniel Lacalle

"The only thing that saves citizens from much higher prices is the fact that the transmission mechanism of monetary policy is independent and diversified. Now imagine for a second if that transmission mechanism was direct and had only one channel, the central bank itself."


"Now imagine if there was only one account, one central bank and the government. Guess what would happen? The complete monetary financing of all government spending driving the currency to hyperinflation in a few years and the obliteration of the private sector. A de facto nationalization. A digital version of the French Assignats. Hyperinflation and full government control and financial repression."
 
Last edited:
Drinkthekoolaid

Drinkthekoolaid

.475 A&M Magnum
U.S. Military
Messages
16,296
Reaction score
28,869
Location
Unfortunately, NY
Grimscale

Grimscale

.338 Win Mag
Messages
7,874
Reaction score
15,385
Location
Rochester
John Stark said:
And WTF is so hard about carrying a few pieces of precious metals if the need arose? Its called a coin purse, and those can be small enough to fit in your pocket like a wallet.
Click to expand...
All of these arguments about carrying precious metals makes me think the best route to take is to start using Pieces-Of-Eight again.
 
Drinkthekoolaid

Drinkthekoolaid

.475 A&M Magnum
U.S. Military
Messages
16,296
Reaction score
28,869
Location
Unfortunately, NY
For the earlier post about all the private jets flying to Omaha, it looks like that speculation was correct. They were on their way to see the oracle.



markets.businessinsider.com

Warren Buffett might help rescue the banks again - but he'll probably make less money this time around

Buffett has reportedly spoken to the White House about investing in US regional banks, but he might get worse terms than he did in 2008.
markets.businessinsider.com markets.businessinsider.com


So, that leads me to the following conclusions, if the regional banks are visiting Buffett then they really are in the shit, they are not stable.
 
Saltwater60

Saltwater60

20×102mm Vulcan
Messages
35,436
Reaction score
39,829
Location
Western NY
spat said:
And again I ask, if SHTF and some guy you never met wants to trade you 1 gram of "gold" metal shot for some food, what value are you going to give him for it ?

How much gold do you think is in there ?
Click to expand...
Can’t eat gold so foods more valuable at that point to me. If you don’t make it through the turmoil then you can’t cash in when things settle out and gold is valuable again.
 
Saltwater60

Saltwater60

20×102mm Vulcan
Messages
35,436
Reaction score
39,829
Location
Western NY
Drinkthekoolaid said:
Some real super geniuses are running banks today. Can't imagine how they're failing....

www.businessinsider.com

JPMorgan Chase thought it had $1.3 million worth of nickel stored in a warehouse. A closer examination revealed bags of stones.

The bank kept bags of stones in a Dutch warehouse thinking they were bags of nickel that would have been worth more than a million dollars.
www.businessinsider.com www.businessinsider.com
Click to expand...
Probably spent more in storage fees that it’s worth.
Interesting.

It's likely that Access World is going to bear the financial burden for the mix-up rather than JPMorgan Chase, the Journal said, because it was the company's responsibility to protect the stores of metal in its facilities.

JPMorgan Chase bought the bags years ago and remains an active player in big metals, the Journal said.
 
Last edited:
DoOver

DoOver

.450/400 Nitro Ex
Messages
12,105
Reaction score
29,388
Location
Catskill Mountains Of New York

​



See new Tweets

Conversation​










Weimar Silver Baron

@BankerWeimar


Wonder why… is everything okay in commercial real estate (CRE) I’ve been hearing some stories of panic… Probably nothing


Image

2:31 PM · Mar 21, 2023
·
509
Views

4
Retweets
13
Likes











Do Qver

















Nakster

@cryptonacks
·
43m

Replying to
@BankerWeimar
Lots of news this year and ofcourse post covid office space .. facebook and others stopped buildling out offices. many are not going to be able to afford rent. You had that huge sky scraper office building that had some bankruptcy or something couple months ago .
















Weimar Silver Baron

@BankerWeimar
·
41m

Replying to
@cryptonacks
Yeah once the companies occupying spaces (or paying bills for the half the building their lease requires) go under… the lease goes bankruptcy court and lines up with other creditors etc








https://twitter.com/BankerWeimar

https://twitter.com/BankerWeimar

​

 
Saltwater60

Saltwater60

20×102mm Vulcan
Messages
35,436
Reaction score
39,829
Location
Western NY
spat said:
What if you have plenty of food, but need a new fuel pump.
Click to expand...
Then you trade food for a fuel pump. I don’t see what value gold has during a SHTF type thing. I get people think gold is valuable and it is today but when you need food, water, shelter, and heat gold provides none of that.
 
You must log in or register to reply here.
Top