Wasn't this supposed to be the Big Event?

[Morsecode]

The one that would send pm's to the moon? The one that would justify all the stacking and hoarding? The one that Howard Ruff preached would define our survival? Instead, it's looking like a big yawn for the 2nd time since the last "Big One" twenty years ago.

If nothing else, the news of late should prove that panic is no friend of precious metals. A few ounces of Purell is more valuable than a Morgan dollar. Gold & silver do ok when things SEEM bad. When the crap actually hits the fan the person who does their investing at Costco ends up on top.

Some of us old-timers have seen 3 major events in the past 40 years, give or take. The start of the first Gulf War, 9/11, now Wuhan. Be interesting to see a chart showing the 24 hour, 1 month, 1 year summaries of those triggers. I'm not sufficiently motivated to do it myself as I am presently metal-less.

[68Camaro]

No - we're not at that event, yet. It's a long process. The continued money printing and deficit spending just piles on.

[Cu Penny Hoarder]

You are metal-less? Get with it! Buying opportunities like this don't happen very often.

The US dollar is devaluing more and more over time. When it becomes totally worthless... what will you have then?

Trillions and trillions of worthless paper being printed and throw at the market every week now. That is unprecedented.

[shinnosuke]

There is a critical Big Event that occurred in the not-too-distant past although likely before the birth of 80-90% of the members of Realcent. If a similar event occurs, it will have a huge impact on our lives. See below:

https://www.thebalance.com/what-is-a-re ... cy-1978926
The U.S. dollar replaced the British pound sterling as the world's premier reserve currency circa 1945 in accordance with the Bretton Woods agreements, formalizing global acknowledgment of the U.S.'s status as a leading world power. At the time, the U.S. dollar was the currency with the greatest purchasing power and the only currency backed by gold.

In other words, fiat always fails because central banks and governmental leaders cannot avoid the temptation of printing to stay in office or to finance a better lifestyle for themselves and fellow elites. The US$ will lose its lofty status and Americans will be poorer for it. If they are not confiscated at that time, metals will help us sustain our lives with less damage to our financial health.

But Morsecode, I think you know all this. What's up?

[theo]

Hey guys after three years or so I'm back. I have been lurking during most of that time though. I'm glad to see that many of you are still here.

Now to respond to morsecode, I have also been frustrated at the under performance of PMs during our current tumult. However, I think it is best to take the paper price of PMs with a grain of salt. I agree with shinnsuke. The growth in PMs will be limited as long as our current financial system is still in place. In fact an inexplicable decline in price of PMs (like yesterday) might actually be a sign that the end of our current system is neigh. I saw where the FED dumped 1.5 Trillion into the repo market to hold the system together, darfing anything that was done in 2008/2009. The TPTB might tank the price of PMs in the hopes the more of those who hold physical PMs might lose heart and sell some of their stash to finance another trip to Costco.

[68Camaro]

Another long time no see! Welcome back from lurking! Nothing like a crisis to bring old timers back to RC!

[Morsecode]

I should perhaps clarify.

A lot of you guys are way more disciplined than I ever was, and you've done well moving in and out of the market. I'm afraid my entire approach to metals was 'buy a bunch and wait for it to go up a lot'. Been there, done that since 1981.

Also, by mentioning I was metal-less I didn't mean to suggest I was sitting on a pile of cash. I'm pretty much paper-less as well I shifted into Canadian woodlots a while back...so I suppose that makes me forest rich. Or maybe Forest Gump. Anywho, it's not a position one can slide in and out of quickly, which for me and my dog-chasing-tail method of investing is a good thing.

I love the shiny. It's got a hook in me, probably always will. I just don't see it having the magical powers I once did. If I was smarter and possessed the ability to diversify I probably would.

[coppernickel]

Wasn't this supposed to be the Big Event? The one that would send pm's to the moon? The one that would justify all the stacking and hoarding? The one that Howard Ruff preached would define our survival?

We may be in a later stage of the virus panic, but we are only first stage of the economic panic.

I really enjoy Ruff's books. I didn't find them until later at a thrift store, but I remember the times he talks about. Amazing how President Carter can be replaced with President Clinton, Bush, Obama, or even Trump.

I really hope we can postpone the big event. That can was kicked down the road in 1973, 1976, 1979, 1982, 1987, 1992, 2000, and 2008. Yes, I know it grows bigger with each postponement, but I like the lifestyle I'm accustomed and the luxuries I enjoy. You know, food, toilet paper, central heating, etc.

[InfleXion]

Welcome back, Theo. Good to see you again.

This does seem to be a looming repeat of 2008. I've never been a fan of naysaying "this time is different", because no 2 times are exactly the same either. I have a wordy explanation for why I say that.

Precious metals and fiat currency are in competition, at odds with each other. The reason for money printing being done to prop up stocks (what the working class plan to retire on which needs to be there to keep workers working and spending) and to suppress silver (what thinkers plan to retire on) through the primary dealers is to control perceptions. Silver can't be looked at positively again, or else people will retire dollars from circulation to get it. If silver becomes money again, it undermines the need for dollars which is how control is exerted. My point with this paragraph that if/as metals rise to prominence the USD will fall from prominence equivalently, and this must be prevented by the money masters.

My overall point is that if the market crashes like it did in 2008 (and it seems to be happening), maybe they can ctrl-p their way out of it again, but maybe that won't work this time. If it doesn't, and if metals return to prominence, it's possible albeit unprecedented that the vapor markets just go kaput or that there is a global jubilee. Don't assume it will be 2008 all over again. It's possible this time could be the turning of the monetary cycle. I don't see that the Fed has many or any options left unless they can convince people to keep working, keep spending, and tolerate losing their wealth. Maybe people can be convinced to go with it. The ultimate breaking point is when the working class can no longer shoulder the burden of bailouts, the welfare state, and losing savings to inflation.. where some might say it's just easier to take the welfare. That slippery slope of losing workers is where I see the true limitations of this system, and a pivotal precursor to the "big event".

[Cu Penny Hoarder]

Wasn't this supposed to be the Big Event? The one that would send pm's to the moon? The one that would justify all the stacking and hoarding? The one that Howard Ruff preached would define our survival?

We may be in a later stage of the virus panic, but we are only first stage of the economic panic.

I really enjoy Ruff's books. I didn't find them until later at a thrift store, but I remember the times he talks about. Amazing how President Carter can be replaced with President Clinton, Bush, Obama, or even Trump.

I really hope we can postpone the big event. That can was kicked down the road in 1973, 1976, 1979, 1982, 1987, 1992, 2000, and 2008. Yes, I know it grows bigger with each postponement, but I like the lifestyle I'm accustomed and the luxuries I enjoy. You know, food, toilet paper, central heating, etc.

The beginning of the end was in 1913 with the creation of the Federal reserve and the IRS. Thanks Woodrow.

The next nail in the coffin was FDR removing gold from circulation in 1933 and making it illegal to own.

The final nail was Nixon taking the US completely off the gold standard in August 1971.

Since then the Fed has totally destroyed the value of the USD. It was inevitable.

The BIG event has already begun and it's only the 1st-2nd inning. It will make 1929 and 2008 look like a Sunday school picnic.