MrTT

4 gram platinum & 1 gram palladium 🤠

4 gram platinum & 1 gram palladium 🤠

4 gram platinum & 1 gram palladium 🤠

4 gram platinum & 1 gram palladium 🤠

Managed to source the rather elusive 1888 Venezuela 100 Bolívares with the help of @Lr103
The mint bloom or toning is quite considerable but cannot hide the ample lustre remaining in this popular vintage

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases.
The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend.
Another 75 basis points at the November 1-2 meeting and 50 basis points at the December 13-14 meeting. The projections then show a further 25 basis point increase next year before the Fed holds then starts to lower rates in 2024.  
Implied Fed Funds Target Rate Chart Central Banks Have Already Lost Control Over the Markets
The statement did acknowledge that Russia’s war against Ukraine is causing tremendous human and economic hardship.
The war and related events are creating additional upward pressure on inflation and are weighing on global economic activity. The Committee is highly attentive to inflation risks.
The difficulty is that central banks have zero control over supply issues and their only response is to choke demand to meet the limited supply.
Also, the approach of raising interest rates does not target sectors but is instead broad based across the entire economy.
  Although financial markets react to interest rate increases very quickly, and many times are forward looking, i.e. equity markets decline before a rate increase, it takes 6 to 12 months for the full effects of interest rate increases to reach the broad based economy.  
Lies, damned Lies, and statistics – statistics can be misleading. The U.S. unemployment rate is one of the main indicators the Fed uses for its measure of the labour market.
The caveat is that a person without a job must have actively looked for a job in the last four weeks to be counted as unemployed. Otherwise, they are not counted as a participant in the labour force.
In other words, because of the way the unemployment rate is calculated it could be ‘artificially low’.
What we can Learn from the International Gold Market
Watch Jan Niewenhuijs Only on GoldCore TV
 
People are ‘dropped out of the labour force figures’ instead of being counted as unemployed.
The percent of the population in the labour force has not recovered to pre-covid levels – i.e. there are fewer people in the labour force.
The number of employed in the U.S. as a percent of the population has also not recovered to pre-covid levels. So it may turn out that the FED believes employment markets are stronger than they actually are because of misleading statistics.
And since the FED wants to raise interest rates until the labour market breaks, maybe they are raising rates based on bad statistics.
US Labour Force Chart The Blame Game Continues…
There are many reasons quoted by individuals for not returning to the labour market. The highest job openings brackets are in health care and hospitality.
The burnout rate during/post covid of healthcare workers has many moving to different sectors or choosing to advance their education, stay home, or early retirement instead of returning to the sector.
The high burnout of healthcare workers coupled with an average salary of US$48,000 to $65,000 for a paramedic in New York City, where the monthly average rent is close to $4,000.
It is no wonder there are more job openings than applicants in this sector. Wage inequality has been a very long-standing problem in the U.S. According to Forbes the average S&P 500 CEO currently makes 299 times the average employee.
This compares to the average CEO earning 50 times more than the average employee in 1950. In the current post-covid, the high inflationary environment is ripe for U.S. employees to demand higher wages.
The Fed wants to lower demand by getting higher income households and businesses to slow their spending without pushing lower income households even further down the poverty rabbit hole.
Powell is quick to point out that it is lower income households that are the most negatively affected by inflation, but it is also lower income households that are the most negatively affected by higher interest rates. Also, lower income households are even more affected by high unemployment levels.
Jim Rogers Interview Only on GoldCore TV
 
The SEP projections also show that the Fed does expect economic growth to be weaker than its June Projection (table below) with only 0.2 growth this year and 1.2% growth next year.
With a higher unemployment rate projected at 4.4%, this implies more than 1 million additional unemployed people in America. And still, inflation is well above the Fed’s 2% target.    
High inflation, and rising unemployment have strong parallels to the early 1980s. Add to this a U.S. Administration that blames everyone but themselves for the issues at hand…we are reminded of Jimmy Carter.
The Fed was late to recognize inflation, late to raise rates, and late to start quantitative tightening (shrinking the balance sheet), are they now going to be late to recognize how much effect the higher interest rates are slowing economic growth.
And if the two quarters of negative U.S. economic growth in the first half of the year and the disastrous earnings announcement from FedEx are any indications; not only the U.S. but the global slowdown is at hand!
When economic growth does slow politicians will turn the blame on central banks.

Some constitutional silver 🤠🤠

Some constitutional silver 🤠🤠

Was going to get the 100g but opted for the 250g. Lovely bar. Thanks to @Mox

Hello dear coin friends, yesterday I received once again a package with coins that are beautiful for me personally. I wish you a nice weekend and greetings from Maxe. 😉

Thanks to @Prodigy for this kilo bar.

Received today and absolutely made up 
23 inch heavy Figaro chain for my 40th birthday and a super toned vintage schone bar 
Thanks @Tozer and @arshimo2012

Jubilee Head Coinage (1887-1892/93  Failure to please?
'Grandma' Victoria was 68 years old when the Jubilee image finally replaced the 'Young-head' of an 18year old girl.  Joseph Edgar Boehm, an Austrian engraver, was given the task. Queen Victoria's favourite small diamond crown sat on top of her widows cap with veil attached. It was lightweight and only 4 inches in diameter, and far more practical than the heavier regnal crown. However, bombarded by criticism that the small crown looked a bit silly, she seemed to change her mind, and the Obverse  was duly replaced in 1893 by Thomas Brocks 'Old Head'. So the Jubilee coinage only lasted a very short time (6/7yrs). Again a veil was incorporated into the 'Old Head' and thus mourning carried on for 40 years!
Although Prince Albert and Queen Victoria were both born in 1819 she was 3 months older, making Albert her 'Toy boy' !  He died in 1861, age 42, but not before he had enhanced his reputation as being the 'Stud of Osborne House' getting Vicky 'preggers' 9 times! Back to the 'Jubilee head' - The small diamond crown now resides on show with the Crown Jewels at the Tower of London.....
 
 
 

The Gillick portrait is recently topical on 'Gold' but decided to put a more detailed obverse here. Instead of the smaller sovereign, this one is on the 1970 Half-Crown (BU) and looks pretty good for a 52 year old coin!

Big thanks to @Colnago for this entry into the world × 1/4 oz run.
Not the easiest coin to get and going by a bit of research after the fact...a bargain. 

My favourite time, results, highlights and surely some for sale posts later today 🙂
 
 
 
 
 

1810 Milan Napoleon Kingdom of Italy 40 Lire 
NGC AU53 - 212 years old 
Nice big coin weighing in at 12.9 grams 
Very hard to get in AU grades 
Only 4 in this grade with Only 13 grade higher in a old NGC slab 
Will be up in the forum later for an exchange deal of some kind no doubt 

 

Somebody jealous, maybe.
Dont worry, maybe soon some U.K billioner will call you.
Wanting everything you got 🥇🥳

Yes.🤗

Serious question to Mr Chard.....
Lets assume, because you are in the UK, someone placed an order for 900,000 Silver Brits, would it be a challenge to obtain or is it simply a special order to RM, or you contact every dealer/contact to try and get the stock etc?

Somebody jealous, maybe.
Dont worry, maybe soon some U.K billioner will call you.
Wanting everything you got 🥇🥳

Somebody jealous, maybe.
Dont worry, maybe soon some U.K billioner will call you.
Wanting everything you got 🥇🥳

Somebody jealous, maybe.
Dont worry, maybe soon some U.K billioner will call you.
Wanting everything you got 🥇🥳

This story has been posted already. It looks like you were late to the party. See below. You will see that some members were rather sceptical of the story. 
I have listened to the interview of the man who brokered the deal for Miles Franklin, Bill Holter. In the interview he said the bank had put a lot of effort in trying to get the billionaire to change her mind. The local branch told her they can't wire the money because of the large sum (USD 50million) and can only be done at the Head Office.  So she travelled to the Head Office 100 miles away.
In the Head Office, she was greeted by senior executives. One by one paraded into the meeting room and try to persuade her not to go ahead with the purchase. The bank would not wire the money to Miles Franklin until she threatened to report them to the regulators.
With the details provided in the interview, some suspected the billionaire could be one of the Waltons, heiress to the Walmart multi-billion fortune - Ann, Nancy or Alice.  The 50 million dollar is just the first order according to Bill Holter. So we'll see how it will affect the price of silver in the months ahead.
I already see the price of silver eagles in my local bullion dealer is at least 30% more than any other standard bullion coins already !
 
 

I've managed to complete the Triangle Shipwreck series today