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Member |
Berkshire Hathaway is a very unique case. 1) it’s basically a mutual fund. buying BRKA your getting all kinds of companies just not a lot of tech. 2) it’s SO HUGE he can’t buy a sizeable position without moving the market and also often without reporting requirements to the SEC. It is interesting to see him get quite liquid. He’s also 94. Does he know something the markets don’t ? We all can’t live forever and he seems in good health but then again, he’s 94. Maybe he’s hedging his bets if the markets tank after the election maybe he’s gathering dry powder to jump back in at lower prices. | |||
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No More Mr. Nice Guy |
Only if they know about it! Were I to own gold coins/bullion for shtf scenarios, I would ensure it was all private. I wouldn't tell even my best friends that I had it. Same thing for silver, though I don't think fedgov would try to confiscate silver. Any prepper supplies should be kept very private. | |||
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Raptorman |
Buy physical gold, NEVER a certificate. All the metal I have is in my safe. There is a HUGE scam out there that was even advertised on the radio to the tune of six billion dollars. ____________________________ Eeewwww, don't touch it! Here, poke at it with this stick. | |||
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Member |
^^^^^^^ Up to 1934, there was a type of paper currency in circulation called “Gold Certificate” which anyone could redeem for the actual gold coin that it represented. One month after FDR took office in 1933, he declared a “bank holiday” and issued an Executive Order which demanded that the public to surrender all gold coins and Gold Certificates at local banks, which were then exchanged at equal value for Federal Reserve Banknotes and Silver Certificates. Those “Gold Certificates” were later declared to be unlawful to own, subject to criminal penalties under law. At that time, gold was valued at $20.67 per ounce, with a $20 Double Eagle containing $19.99 worth of gold in it. The other 1-cent was made up of copper for alloy hardening of the coin, as pure gold is very soft and doesn’t wear well. That 1-cent is known also known as seigniorage. Seigniorage is the difference between the face value of money and the cost to produce and distribute it. When the face value of money is greater than the cost to produce it, the government makes a profit on seigniorage. After the turn-in date, gold was then revalued upward to $35.00 per ounce; a mark-up of 67%, or a devaluation of the Dollar by 59%, however you want to parse it. In 1964, the same thing happened to “Silver Certificates” ($1, $5, and $10 denominations), when the price of silver exceeded $1.29 per ounce. Silver coins were rapidly disappearing from circulation which resulted in a “coin shortage”, blamed on coin collectors when in reality it was the general populace doing it. The current cupro-nickel clad coins, issued beginning in 1965, further exacerbated the coin shortage, proving once again the validity of Gresham’s Law; “good money” (silver coins) is driven out of circulation by “bad money” (clad coins) when both have the same nominal value. So, the lesson to be learned from this is; IF YOU DON’T HOLD IT, YOU DON’T OWN IT !!!!!This message has been edited. Last edited by: 2BobTanner, --------------------- LGBFJB "Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." — Mark Twain “Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” — H. L. Mencken | |||
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Member |
Very interesting , So pretty much, There is very little that can't be taken away. Safety, Situational Awareness and proficiency. Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first | |||
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No More Mr. Nice Guy |
That's why privacy is so important! Cash, quiet, calm. | |||
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Member |
Most of my gold coins are 10th, 20th or 25th of an ounce. I figure easier to trade with if needed in future. | |||
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