Bidenomics

[Big Frank]

The U.S. has printed more money in the <3 1/2 years that Putin (Whoops. Wrong Commie!) Biden has been in office, than all of the other 248 years of the county's existence combined. The value of the dollar has dropped like a lead sinker, when it was still legal to fish with those everywhere. Inflation is up 20% and climbing since Biden took office, meaning your dollar is worth less than 80 cents compared to the beginning of 2021. It's never too late to invest in precious metals as a hedge against inflation, and this is a great time to own gold and silver, but I'm selling because I acquired a lot of credit card debt in the last few years. Some of it in buying antique gold coins which I'm not selling yet, but eventually will, and hopefully it will be at a handsome profit.

I'm waiting for a check for a purchase I just finalized for a single NGC box of 20 coins sealed in plastic slabs. 3 are silver dollars found in the rubble under the WTC. I thought I already sold all my silver but but found these in my gun safe. The rest are gold coins of 1/10, 1/4, and 1/2 ounce. That's 3 troy ounces of silver and 4.9 troy ounces of gold if I added it up right. They were all modern coins ranging from 1986, the first year of issue, to 2016. None are really old, or rare, and although I lost a lot on some, I more than made up for it on others. When I figured out the price I paid including shipping, and how much I'm getting for them, I'm making about 26% profit, while most of my money in the credit union earns 0.10% dividends on savings and 0.09% on checking. Banks are probably 10 times worse but I don't use banks and can't say just how bad they are. It literally doesn't pay to save money now, when you can spend it on something you want and inflation is over 2,000 times the amount of interest you can get by leaving your money in the bank. THAT my friends is Bidenomics.

Here are the 3 silver dollars I sold, and 2 Mercury dime centennial commemoratives made of 24K gold. I think I lost about $500 on these 5 coins but made over $1,200 on one 28 year old 1/2 ounce gold coin. Nice! I'll post pics of the rest too if anyone wants to see them. Most of my coins were Mint State-69, only 1 point less than MS-70, Mint State Flawless. Sometimes that 1 point will double the value of the better coin, which is why I haven't sold any 70s, other than the Special Proof-70 Mercury Dimes, which it seems like were all in perfect condition, lowering the value of them a LOT. Even the Early Releases pedigree didn't mean squat with these, and those are usually the finest of fine coins. They were my first, and last, purchase from that company.

[Diamondback]

Recession: Your neighbor loses his job.
Depression: You lose you job.
Recovery: Democrats lose THEIR jobs.

[Big Frank]

Let us pray for recovery. And vote.

[Rastus]

For SHTF and TEOTHAWKI get the cheapest coinage you can.  The numismatic value won't mean much until a much later time after a collapse...so buying something a little rare will be a losing proposition if needed soon after a collapse.  At least that's the way it's worked for other fiat currency collapses.

So...if you can access numismatic value now and get more physical metal that's what I would do.  I wish I had 20 silver coins....but I put my $$$'s into lead and a place in the woods.

Just my 2 centz.   

[alfsauve]

For barter when all money collapses, I tend to stock up on things like, drinkable alcohol in small containers and cigarettes as well as emergency food supplies.  And each year we buy some vegetable seeds even though we don't plant them.   Been thinking about laying in some antibiotics as well.

The stock market is killing my investment and retirement accounts this month.  And retires have to take distributions each year (MRD) from IRAs and 403s, I've been fortunate in that I've not had to touch the principal on the pure investment account.

[Sponsor]

[Rastus]

Antibiotics are a good thing.  Fish antibiotics are still available to the public in Arkansas...not in Oklahoma though.  None of the public seems to have had any ill effects from them....

It gripes me with this persistent earache I've had forever that doctors ignore 65 years of medical history and prescribe steroids for me to get better...never works always leads to a worse condition.  So...fish antibiotics fix me right up.  I don't have to drive an hour to the doctor, wait and hour or so to see the doctor, fill a prescription I know won't work, take steroids that don't work and wait 2-3 days to go back another hour to the doctor to wait another hour or so to get the antibiotic prescription I always needed, fill that prescription and finally take the drugs that work on my condition. 

I found myself away at a new doctor emporium the other day...finally I got smart.  I put it on my information and told them that steroids blow up my blood pressure (which has been true).  That worked...got the antibiotics first time and better soon thereafter.

The only issue with fish antibiotics is that I feel like I need to catch a nap in the pond when I take them....

[PegLeg45]

Rastus, I use CalVet supply for Amoxicillin since my fish are always sick.

[Big Frank]

I don't have a fish, but if I get one it will probably end up with Otitis Media and need Augmentin. Maybe I should buy some.

If you want precious metals to trade after TEOTWAWKI, I recommend ungraded bullion coins, US$1 Silver Eagles, and also CAN$1 Maple Leaf, 1.50 Euro Vienna Philharmonic, AUS$1 Australian Silver Dollars, and 10 Yuan China Pandas, if you can find any of them at decent prices. I had a couple sets of all 5 coins of the same year's mintage in wooden display cases before I sold all my silver. And because gold coins are smaller than silver and easier to store and transport, $5 Gold Eagles. One roll is fifty coins in a mint tube. It only weighs 5 troy ounces plus the weight of the plastic tube. So you have $250 face value in coins for the same weight as $5 in silver. They're like rolls of dimes and it's easy to stick a couple in your pockets. I sold all of mine to buy better coins.

If you're buying precious metals as a hedge against inflation, I recommend new US Gold Eagles and Silver Eagles in MS-70 condition or MS-69, plus ungraded Gold Eagle and Silver Eagle bullion coins, and antique coins like Indians and Double Eagles. Even if gold and silver go down and the bullion coins lose value, the graded coins should hold their value, and the antique coins should be worth more. If you put 1/3 of your investment in each, you may have one, or a few really good antiques, several good modern coins, and a bunch of bullion you can trade or sell later. I know very little about investing, so take what I say with a grain of salt, but diversify your assets. Put 1/3 of your total investment in precious metals and the other 2/3 elsewhere.

You can invest in a precious metals IRA account, too. Since people started doing that the value of some of my coins went way up. I paid $1,945 for a 1996 $25 Gold Eagle NGC-graded MS 69, and just sold it for $3,200. The 64.5% profit I made on that one made any losses on the other coins not seem so bad.   Chase Bank is paying 0.01% interest on savings. If I left that money in the bank they would have given me 19 cents interest the first year, and it they kept compounding it annually,  it would take 26 years to make enough to buy a $5 cup of coffee. If you can still get a cup of coffee for $5 in 26 years. Guns are a much better investment than leaving your money in the bank, but if you're not investing in anything, put your money in Credit Unions that pay 10 times as much interest as banks.