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JoncreteCungle's Achievements

  1. http://ferfal.blogspot.com/2015/06/what-to-do-with-goldsilver.html?m=1 Link to the excellent Ferfal blog detailing what happened with pm during the Argentina collapse
  2. As far as I recall during the collapse of Argentina dealers / shops remained open and you could buy or sell on the black market in unofficial markets and with street corner dealers. The Ferfal blog if it still exists gives a rough guide to what might happen if TSHTF. I don't think fiat is in danger of running out given the rate it is being created at...
  3. The big Chinese property developers still look in big, big trouble. $13.2 billion of claims have been filed in Chinese courts by Chinese companies owed money by Evergrande alone. Add to that the other big developers in trouble and all the international bond holders who will likely take a severe hair cut or get nothing back if/when the plates all stop spinning. What will the global reaction be? I can’t see any response by the Fed, BoE etc other than reverse the small rate rises and slam the money printers back into full speed ahead.
  4. Shadow stats calculate the current rate of inflation in the USA (using the methodology that was used in 1990 to calculate inflation) to be 10.5%. They also use the methodology used in 1980 to calculate inflation and that gives the figure of 15% for 2021. http://www.shadowstats.com/alternate_data/inflation-charts If the same exercise was applied to the UK numbers I suspect the result would be similar.
  5. Stocked up on the pasta we use in September, went back yesterday to restock and the same pasta in the same shop has gone up 20% in the meantime. Gas, electricity, diesel etc all up markedly. A poxy rate rise will make no difference to the inflation, money printing, overspending or debt levels imho. I don’t think such a small rise will do anything to tackle inflation or hammer precious metals price downwards. They talk the talk about inflation and rate rises, but I doubt they will walk the walk, remember it’s still transitory….
  6. Put your phone number down as a premium rate, erm “chat” line number?
  7. Sometimes circumstances dictate you have to take the hit and sell to a dealer. When I cashed out my silver & gold years ago to buy my home, I was able to sell a small amount privately for a good price. I couldn’t wait for weeks / months to sell it all this way or the property would have sold to someone else. The discount I managed to obtain on the house (from sellers original asking price down to what I paid them) was greater than the amount selling the bulk of my pm to a dealer v private sales cost me. I wish I could have kept my pm and bought the house, but the opportunity was too good, time and cash in short supply, so I had to bite the bullet. I have started to rebuild my position in gold and silver recently.
  8. Started buying silver & gold in 2004/05 as I began my journey learning about fiat currency, fractional reserve banking, central banks, debt based money and the level of debt in the world. It served me well and I sold all my gold and silver to buy my home after a few years of post 2009 house prices falling and precious metal price rising. Making the purchase a lot less painful than it would have been if I left the cash in the bank at 0% interest rates. Sorting out the house & family life took over and precious metals went on the back burner. Started buying again by discovering hallmarked bits of lower purity silver that I found at car boot sales, local small charity shops and locally on Facebook & EBay that was round spot price or cheaper. Now I have the yearning for the 1oz, 10oz and kilo silver bars and coins that sold to buy my home.
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