Any stackers here?

[StraightWhiteMale]

With the price of gold soaring to over 2450AUD/1600USD
I bought the new John Wayne 1 ounce 9999 silver coin and a 1/4 ounce 9999 gold coin from the Perth Mint. They look amazing. Any other blokes on here left the fiat system and stack real money?

[Bugman]

No. I have stacks of NO MONEY..............................................sigh.

[Kelsey Cooter]

I'm sorry if I'm reading your post wrong or this is a stupid question, but wouldn't you buy gold when the price is low not high?

[StraightWhiteMale]

I'm sorry if I'm reading your post wrong or this is a stupid question, but wouldn't you buy gold when the price is low not high?

Yes ideally but the price is still low to where its going. Mark my words gold will be over 10k USD in the next few years and silver will be about 1000USD. The London gold fix is manipulating the market into using the petro dollar but its only a matter of time untill the hyperinflation kicks in.

[snag]

Sorry mate, I knew a bloke in the late 1980's who was renting his house and said he wouldn't buy a home because the prices were going to plummet in the next few years....... just sayin".

[TassieTiger]

I work in an industry that has lengthy associations with mining...some of those associations are gold mines.
There are constant rumours around under ground stashes of gold from these mines, waiting - and some of those rumours are hundreds of thousands of tonnes. They are apparently keeping that off the market to ensure price remains high...IF they decided to off load, gold price would collapse...now imagine how many mines may be doing similar...
I’ve heard analytics sprouting the $10k possibility - and sure, anything is possible, look at Bitcoin, it’s just a risk.

[StraightWhiteMale]

I work in an industry that has lengthy associations with mining...some of those associations are gold mines.
There are constant rumours around under ground stashes of gold from these mines, waiting - and some of those rumours are hundreds of thousands of tonnes. They are apparently keeping that off the market to ensure price remains high...IF they decided to off load, gold price would collapse...now imagine how many mines may be doing similar...
I’ve heard analytics sprouting the $10k possibility - and sure, anything is possible, look at Bitcoin, it’s just a risk.

Bitcoin is the free market at work. Becsuse it is decentralised. Gold is really being manipulated by the elites in what is called the London gold fix. They want you to use American dollars.

Silver is the future. All the technology and medicine of the future needs silver and there is not enough of it. They reckon there is only about 2 ounces for the worlds nearly 8 billion people. Silver is in everything and it can not be extracted once used, where 90% of the gold ever mined is still in existence.

[TassieTiger]

Interesting re silver.
I’ve been burnt in market place and will never forget the 1 million dollar bet between buffet and high profile traders...if you don’t know about it - buffet challenged all NY traders to a 10 year bet. He’d pick one stock and lock it in for 10 years vs the buy/sell strategies of traders and analysts. Inside 2 years, was market crash and buffet was looking bad - but even after that, he ended up killing them...and had the high profile analysts actually saying they were guessing.
What about lithium with the newer batt tech?

[Noisydad]

What ever you do, don’t ask my kids gestation unit for investment advice! She has the “septic touch”! AMP, Telstra, Bankers Trust - she did money in them all lol

[StraightWhiteMale]

Interesting re silver.
I’ve been burnt in market place and will never forget the 1 million dollar bet between buffet and high profile traders...if you don’t know about it - buffet challenged all NY traders to a 10 year bet. He’d pick one stock and lock it in for 10 years vs the buy/sell strategies of traders and analysts. Inside 2 years, was market crash and buffet was looking bad - but even after that, he ended up killing them...and had the high profile analysts actually saying they were guessing.
What about lithium with the newer batt tech?

Silver is in everything. Everything electrical has silver. And unless WW3 breaks out tomorrow the future will be very technically electrical orientated. The demand for silver will explode and silver could go to well over 1000USD. They are nowhere near mining in space so the time is now to start buying silver man.

[wanneroo]

If I come down to Australia next time in the winter, I'm aiming to do some prospecting for gold.

[straightshooter]

What about lithium with the newer batt tech?

What do you think the forever war in Afghanistan is really all about?

Silver is in everything. Everything electrical has silver. And unless WW3 breaks out tomorrow the future will be very technically electrical orientated. The demand for silver will explode and silver could go to well over 1000USD. They are nowhere near mining in space so the time is now to start buying silver man.

For many many years the silver to gold ratio was about 15 to 1. These days it is about 80 to 1.
It appears there are no specific silver mines, it is simply a byproduct of other mining such as for copper or zinc.
What stacking promoters are anticipating is a breakdown in the international monetary system largely due to it's ongoing and possibly terminal abuse by our great friend.
At that point there will be a duration where silver will be in short supply so it 'value' will increase.
From earliest childhood we have been conditioned into the monetary system without ever truly understanding what money really is.
If and when the financial system breaks down and the Government does not step in before hand to prevent it's personal possession then having reliable material for exchange will be very beneficial to those that have it.
In a true or near to SHTF situation, having stuff that other people desperately want will be the key, you can't eat gold or silver.

[TassieTiger]

Sounds like your advocating an investment in guns and ammo
The share market and commodities is akin to roulette with a gentle positive progression - Warren Buffet has said all along...bank with the house for long term investment.
That being said...
https://www.kitco.com/news/2020-02-24/G ... -Iran.html

[Sergeant Hartman]

Mate, aged that previous metals like silver are good are a safe bet, unlike shares, but the rate of growth is slower, and wild there might be spikes you have to sell at the right time then but back at the right time. Never the less, my super seems to be on nearly 10% growth every year and gold hasn't.

While there i will completely disagree with your assessment of bitcoin. What a load of dust. The only reason it's value increased was when mom and dad investors jumped in to make money... and they lost. It doesn't have anything backing it to give it any intrinsic value unlike AUD or GOLD etc. The accrual premise is that it gets progressively harder to mine new coins. So unless you got in early you might as well don't get on it.

Or how about you want to buy something, it takes hours and will eventually take days to update each transaction, as the ledger gets bigger.

Worse is if there was a crash, you won't be able to convert your coins to real money as there will be to many transactions pending, probably take days.

But most importantly, here is an example. Your boss pays your weekly wage in bitcoin, today its say 100, next week its 10 And the week after it's 1000, as the value of bitcoin is fluctuating compared to AUD.

It just cannot be used as a reliable currency due to technical limitations.

There are other coins that have popped up that aim to work around these limitations, infact many of Austrian banks are using one to do near real time money transfers between bank accounts from one bank to another.

[wanneroo]

I think it's like anything, it doesn't hurt to have a bit of everything. A bit of cash, a bit of various metals, some stocks in companies and similar investments, some land, some guns, some supplies, some self sufficiency and skills where you can make some money in a side hustle. Perhaps even a little bit of cyber coins.

[StraightWhiteMale]

For many many years the silver to gold ratio was about 15 to 1. These days it is about 80 to 1.
It appears there are no specific silver mines, it is simply a byproduct of other mining such as for copper or zinc.
What stacking promoters are anticipating is a breakdown in the international monetary system largely due to it's ongoing and possibly terminal abuse by our great friend.
At that point there will be a duration where silver will be in short supply so it 'value' will increase.
From earliest childhood we have been conditioned into the monetary system without ever truly understanding what money really is.
If and when the financial system breaks down and the Government does not step in before hand to prevent it's personal possession then having reliable material for exchange will be very beneficial to those that have it.
In a true or near to SHTF situation, having stuff that other people desperately want will be the key, you can't eat gold or silver.

Spot on mate you know your stuff. The silver/gold ratio will go back to historic levels oneday as the ratio is the biggest now than ever before. So stockpiling silver will generate a lot of free wealth.

[StraightWhiteMale]

I think it's like anything, it doesn't hurt to have a bit of everything. A bit of cash, a bit of various metals, some stocks in companies and similar investments, some land, some guns, some supplies, some self sufficiency and skills where you can make some money in a side hustle. Perhaps even a little bit of cyber coins.

Spot on mate. Being able to live off grid and be self sufficient is paramount. A bit of diversification is good. I have a bit of crypto also. Mum is a big on her bible end of day scenarios, she has about 10 years of storable food and tanks and tanks full of clean water. She spends all her time hydrating food for storage.

[Stoney]

I stack as well. I started with a trepidatious purchase of a 1kg cast bar of Silver at $20 per ounce. I should have bought Gold as it was at $1600 an ounce at the time. But I continued with Silver as I was more comfortable with it being at little less " High Stakes ". Anyhoo, I went on to buy a s**t ton more Silver @ $20 per ounce. Not going to make me a million dollars, but I have made a couple of thousand dollars over night just by keeping the Silver in my safe. Silver won't make you a millionaire unless you buy s**t tons. But what it does is " Inflation Proof " your money. I have a mate that I told to buy Silver instead of a Family Pack KFC buckets for dinner every night for his family and he actually laughed at me and told me I will never cash in on that Silver because it will be worthless in the future. I s**t you not. The ratio of Gold and Silver is historically 1:12. That being 1 Ounce of Gold buys 12 Ounces of Silver. It will correct but not for some time. $30 per ounce Silver is not unrealistic. BTW I am buying 100OZ bars like they are going out of fashion.

[Farmerpete]

I'm betting on bitcoin as preferred to gold I do believe that we are close to another depression - probly worse than the 30s
That doesn't mean technology will fail into a shtf scenario it just means we will be up for a reset of the monetary system so back to a gold standard
if/when that happens the gov will have to either buy or confiscate the gold back seeing as most of people's gold is stored in the Perth mint (for those that don't know they'll store it for a fee and you get a certificate to say you own it) and the government don't really care about the people and own all the guns I'm betting on confiscation. When that happens Bitcoin which is finite will be where people will try to hide their wealth the added bonus is you can still purchase groceries with Btc

[StraightWhiteMale]

I'm betting on bitcoin as preferred to gold I do believe that we are close to another depression - probly worse than the 30s
That doesn't mean technology will fail into a shtf scenario it just means we will be up for a reset of the monetary system so back to a gold standard
if/when that happens the gov will have to either buy or confiscate the gold back seeing as most of people's gold is stored in the Perth mint (for those that don't know they'll store it for a fee and you get a certificate to say you own it) and the government don't really care about the people and own all the guns I'm betting on confiscation. When that happens Bitcoin which is finite will be where people will try to hide their wealth the added bonus is you can still purchase groceries with Btc

Well they call bitcoin digital gold. It is not so much to be used for daily transactions as it is slow but to be held as more of an asset. Only 21 million bitcoins can ever exist and the last one will come into exsitance on may 7 2140. Each bitcoin can go to 8 decmil places and they reckon a few million have been lost since its eary existence, making the 18 million that have been mined so far more around15 in existence.

Have you read part iv of the banking reserve act of 1959? The governer general in times of an emergency that he can declare can make it unlawful for citizens to own gold and they must give all their gold to the reserve bank in exchange for a price they will determine. IE give them your money and they will give you worthless fiat paper in return.
When you buy gold from the Perth Mint you have to sign a declaration that they give to the government. So the government knows what you have but they do not know where you store it if you store it yourself as I do. Storing gold in a bank is a huge risk as they can just shut their doors and you loose all access. Like what happened in Greece and what happened in the USA when it was illegal to own gold from 1933-1971. Not to forget in WW2 when everyone in Europe had their gold taken by the Italians and Germans. Now the government does not want people using more than 10k in cash. Why is that? Ohhh so they can monitor private citizens spending habits. How a priviate citizen spends their fiat is nobodies business.

[StraightWhiteMale]

I stack as well. I started with a trepidatious purchase of a 1kg cast bar of Silver at $20 per ounce. I should have bought Gold as it was at $1600 an ounce at the time. But I continued with Silver as I was more comfortable with it being at little less " High Stakes ". Anyhoo, I went on to buy a s**t ton more Silver @ $20 per ounce. Not going to make me a million dollars, but I have made a couple of thousand dollars over night just by keeping the Silver in my safe. Silver won't make you a millionaire unless you buy s**t tons. But what it does is " Inflation Proof " your money. I have a mate that I told to buy Silver instead of a Family Pack KFC buckets for dinner every night for his family and he actually laughed at me and told me I will never cash in on that Silver because it will be worthless in the future. I s**t you not. The ratio of Gold and Silver is historically 1:12. That being 1 Ounce of Gold buys 12 Ounces of Silver. It will correct but not for some time. $30 per ounce Silver is not unrealistic. BTW I am buying 100OZ bars like they are going out of fashion.

Thats it mate. Not so much to make you a rich man but it is a hedge against inflation to protect yourself when times go rough. As all fiat currencies go to zero it is worth it to stock up on every little bit you can now. I fly over to Perth and buy my stuff in person.

[Farmerpete]

Pretty sure the 10k cash ban was added as a follow-up to the bail in laws that was passed a couple of years back and also in preparation for negative interest rates
now banks get to charge you a fee for the ability to play the share market with your money and if they get it wrong it's no longer a government problem it's your problem
ironically though investing in bank shares is a better place to keep your money than in the actual bank vault

[TassieTiger]

Quote Thats it mate. Not so much to make you a rich man but it is a hedge against inflation to protect yourself when times go rough. As all fiat currencies go to zero it is worth it to stock up on every little bit you can now. I fly over to Perth and buy my stuff in person.[/quote]

What happens if a small % of the rumours are correct - that many gold mines, hold very, very large, un declared amounts of gold “elsewhere” - and for what ever reason, one of them dump that holding into the market place? Just like the arabs did with oil, the main stream bodies (govt) control the prices of commodities in line with fiscal policy, but if/when something from left field occurs?, ie in the Middle East case, it was “fracking”, then results can be skewed pretty quickly. I guess that’s why they call it speculation...

[Stoney]

Thats it mate. Not so much to make you a rich man but it is a hedge against inflation to protect yourself when times go rough. As all fiat currencies go to zero it is worth it to stock up on every little bit you can now. I fly over to Perth and buy my stuff in person.

What happens if a small % of the rumours are correct - that many gold mines, hold very, very large, un declared amounts of gold “elsewhere” - and for what ever reason, one of them dump that holding into the market place? Just like the arabs did with oil, the main stream bodies (govt) control the prices of commodities in line with fiscal policy, but if/when something from left field occurs?, ie in the Middle East case, it was “fracking”, then results can be skewed pretty quickly. I guess that’s why they call it speculation...[/quote]

Just like Diamonds the Gold price will never ever bottom out. Silver well.....I guess it has to follow to some respect.

[StraightWhiteMale]

What happens if a small % of the rumours are correct - that many gold mines, hold very, very large, un declared amounts of gold “elsewhere” - and for what ever reason, one of them dump that holding into the market place? Just like the arabs did with oil, the main stream bodies (govt) control the prices of commodities in line with fiscal policy, but if/when something from left field occurs?, ie in the Middle East case, it was “fracking”, then results can be skewed pretty quickly. I guess that’s why they call it speculation...

I just don't see it mate. The russians, chinese and the worlds richest elitists are buying so much physical gold. They know there will be a lot of instability in the future and gold is their safest bet. Speaking of elities a lot of elitists are buying up land in NZ. NZ is meant to be the safest place in the world if major economic collapse was to happen. Funny how the mass shooter over there never had a job but travelled the world spending a lot of money and went to places like Pakistan, North Korea and Syria. I am not saying he is somesort of operative but he fits the profile.

[StraightWhiteMale]

Pretty sure the 10k cash ban was added as a follow-up to the bail in laws that was passed a couple of years back and also in preparation for negative interest rates
now banks get to charge you a fee for the ability to play the share market with your money and if they get it wrong it's no longer a government problem it's your problem
ironically though investing in bank shares is a better place to keep your money than in the actual bank vault

Banks with their fractional reserve lending creating currency out of thin air. Look at the us treasury website. There is only about 1.5trillion of american currency in the world. The other trillions is just numbes on a screen that the banks have created.


If you or I create money its called counterfeiting and we would be arrested but when a bank does it its legal?

[Stoney]

The return on Gold is way better if you can handle spending a lot of money for a tiny little bar

[TassieTiger]

I just don't see it mate. The russians, chinese and the worlds richest elitists are buying so much physical gold. They know there will be a lot of instability in the future and gold is their safest bet. Speaking of elities a lot of elitists are buying up land in NZ. NZ is meant to be the safest place in the world if major economic collapse was to happen. Funny how the mass shooter over there never had a job but travelled the world spending a lot of money and went to places like Pakistan, North Korea and Syria. I am not saying he is somesort of operative but he fits the profile.[/quote]

Fair call. I’ve always predominantly stuck to real estate myself - after losing about $100k in Telstra, CBA, Rio and AMP...over 5 years on the crash.
Question from someone who doesn’t know any better - silver is currently reported as $27 an ounce, but if you look at the mint or ABC to buy, it’s between $28 and $30 an ounce - is that their profit margin ? Making $ on both sales and buys?? If you were to kick off as a starter - where do you go to buy to know your getting best price?

[StraightWhiteMale]

Fair call. I’ve always predominantly stuck to real estate myself - after losing about $100k in Telstra, CBA, Rio and AMP...over 5 years on the crash.
Question from someone who doesn’t know any better - silver is currently reported as $27 an ounce, but if you look at the mint or ABC to buy, it’s between $28 and $30 an ounce - is that their profit margin ? Making $ on both sales and buys?? If you were to kick off as a starter - where do you go to buy to know your getting best price?

Shares scare me, there is nothing solid there. Land is great mate as their is only so much of it and it is useful. After Oil gold has the second most uses of any commodity. Something like 30000 different useses.


Yeah so the reported price is the current spot price. Dealers will sell over spot and buy off you under spot to make their money. I buy from the Perth Mint because their quality is up there as the worlds best and you know their product is legit and not fake. The downside with the Perth Mint they only sell their product and not other mints bullion like the Canadian maple leafs and the American Eagles if you want a bit of variety in your stack.


ABC bullion and KJC bullion are other legit dealers down in Sydney that sell everything. There are dozens of legit dealers in the country but the Perth Mint is obviously the biggest and most world renowned. Bars are cheaper to buy than coins because coins have pictures on both sides and that costs more to make. Minted cost more than cast because minted gives it that nice and shiney look but the metal content is the same. So if you just want to stack size than cast bars are the best value for money. And they should only be a few dollars off spot price.

[StraightWhiteMale]

The return on Gold is way better if you can handle spending a lot of money for a tiny little bar

That one ounce gold bar is worth a little bit less than that 100 ounce bar. Crazy how much wealth can be stored in such a small space. 100 ounces is about 2.8kg and one ounce is about 28grams.