This quick note before I go into a long, long rant tomorrow on Jay Powell’s fallacy of falsehoods.
There are times in history when Gold and Silver become an absolute buying opportunity. Some of us old farts were around for them.
Way, way, way back in the late 1970’s I became friends with a coin dealer who also sold stamps. I was a huge stamp collector and he tipped me off to buy some silver with my spare money while I was working part time in high school.
I said “sure” and would buy an ounce or some junk silver here, an ounce there depending on my pay.
Little did I know that by my senior year that would be worth so much. I took it all into another dealer who was an idiot per my friend who purchased all my booty at over $45 per ounce. In 1980 that was a LOT of real money and of course I left and blew it on the the three “B’s” that eighteen year olds enjoy (Buick 442, boobs, beer).
Yeah, I had fun and probably should have invested in that computer stock Texas Instruments but what the hell, I was 18.
I am your friendly neighborhood version of that coin dealer.
One might want to consider backing up the truck now if you want insurance for what is about to hit the United States of America.
The late 1970’s was the good old days compared to what is coming next.