Any Reputable Coin or Jewelry Dealers on the North Coast?

[fuchs4d]

And finally to keep this DR related, the dollar has certainly not gone "crazy low compared to gold and all other things."

https://seekingalpha.com/article/4366155-u-s-dollar-devalues-99-percent-vs-gold-in-100-years-gold-price-crosses-2067

Since the 1930s, the U.S. dollar has lost 99% of its value against gold.

To keep it D.R. related: I see gold and silver coins as the ultimative means to conserve purchasing power even in times with no electricity and working banking system, however in the D.R. it is too difficult to use the coins. Also it is risky to go through customs with several gold coins because with current european ruling the coins may be confiscicated by a custom agent thinking perhaps the coins are related to criminal activity even if declared properly.


Alexander

 

[playacaribe2]

https://seekingalpha.com/article/4366155-u-s-dollar-devalues-99-percent-vs-gold-in-100-years-gold-price-crosses-2067

Since the 1930s, the U.S. dollar has lost 99% of its value against gold.

To keep it D.R. related: I see gold and silver coins as the ultimative means to conserve purchasing power even in times with no electricity and working banking system, however in the D.R. it is too difficult to use the coins. Also it is risky to go through customs with several gold coins because with current european ruling the coins may be confiscicated by a custom agent thinking perhaps the coins are related to criminal activity even if declared properly.


Alexander

At one time the DR produced both gold and silver coins. Like all other countries they abandoned producing circulating coins and now only occasionally produce commemorative collector type coins.

As I said above, long term gold has held up well...............but there were long periods when it did not keep pace with purchasing power.....but overall it has been and will probably continue to be, or should be, a form of financial insurance for one's portfolio.......

Click on "all" at the third chart down.

Gold Price

Where the world checks the gold price

goldprice.org

Respectfully,
Playacaribe2

 

[malko]

Not sure how much gas (short term) is left in the tank for Barrick. It has run up over 10% in the last month.

But for the moment, that is good news for the DR.


Respectfully,
Playacaribe2

On European exchanges, the stock is like +8.5% over 1 week....... Not complaining, but not buying anymore for the time being.


Personally I like physical gold and silver vs their paper counterparts. I have a hard time believing paper gold sellers/issuers actually have the physical asset, even more so with silver.

 

[Dark_Scorpion]

I prefer to see it from the other side:
The value of the USD declined, gold did not change its value compared to other things.
The value of gold stay the same over time.
The USD has gone crazy low compared to gold and all other things.
1 oz of gold buy the same amount of Big Macs or Presidente beers compared over the years.
However the USD (and DOP and all others) buys less and less consumer products.


Alexander

the mine has about 25 to 30 years left in the tank. Granted there are variables. The have contained some. The cost of power is one of their main expenditures and they have got a handle on that. It is a good gold play. No one really wants to own physical gold.

Only the most ignorant don't want to own physical gold. All paper currencies including the USD are inherently worthless, and every country eventually has a currency crisis. Turkey is currently going through one, and then there was Venezuela. A bag of rice used to cost 30 pesos here in the DR, now it is almost 50 pesos. You do realize that inflation is a form of theft, right? The government is basically stealing from you. Everyone will want to own gold when the pesos/dollar and other paper currencies plummet. How valuable do you think gold was in Venezuela during their collapse? How about Argentina in 2001?

Dominicans are going to learn the hard way that money and currency are not the same thing. By the way, gold at its currently price is still massively undervalued compared to its 1980 high of $850, which adjusted for inflation today should be about $3,200. And the socioeconomic situation today is far, far worse than 1980.

 

[Big]

Only the most ignorant don't want to own physical gold. All paper currencies including the USD are inherently worthless, and every country eventually has a currency crisis. Turkey is currently going through one, and then there was Venezuela. A bag of rice used to cost 30 pesos here in the DR, now it is almost 50 pesos. You do realize that inflation is a form of theft, right? The government is basically stealing from you. Everyone will want to own gold when the pesos/dollar and other paper currencies plummet. How valuable do you think gold was in Venezuela during their collapse? How about Argentina in 2001?

Dominicans are going to learn the hard way that money and currency are not the same thing. By the way, gold at its currently price is still massively undervalued compared to its 1980 high of $850, which adjusted for inflation today should be about $3,200. And the socioeconomic situation today is far, far worse than 1980.

well since you insisted on the insult. I will counter that only the under educated own physical gold. Storage, and tax implications are cumbersome. Owning physical gold, stock piling food rations in a woodshed, driving a jacked-up pick truck and cussing at the government is a financial strategy for Elmer and Billy Bob, and Dark Scorpion.

 

[malko]

well since you insisted on the insult. I will counter that only the under educated own physical gold. Storage, and tax implications are cumbersome. Owning physical gold, stock piling food rations in a woodshed, driving a jacked-up pick truck and cussing at the government is a financial strategy for Elmer and Billy Bob, and Dark Scorpion.

Hey, hey, we can also just be hedging our bets !

I fully embrace the Capital dominating ways of our societies, however I do happen to stock--- or hoard, depending on one's views--- food, water, ammo, silver and gold....... Just in case 😉😉

 

[Dark_Scorpion]

well since you insisted on the insult. I will counter that only the under educated own physical gold. Storage, and tax implications are cumbersome. Owning physical gold, stock piling food rations in a woodshed, driving a jacked-up pick truck and cussing at the government is a financial strategy for Elmer and Billy Bob, and Dark Scorpion.

So that is why all the Central Banks around the world are stock piling gold, because they are under educated?

Why are central banks hoarding gold?

The World Gold Council says gold purchases in the first half of this year were the highest on record.

www.aljazeera.com

Sounds like the Central Banks know something you do not. It looks like you will have to learn the hard way just like the people of Zimbabwe, Argentina, Venezuela. US government adding one trillion to the national debt every 90 days or so, how do you think that will turn out? By the way, Patrick Graham says he will not sell silver back, he only buys it, sounds like he knows something to.

 

[Big]

So that is why all the Central Banks around the world are stock piling gold, because they are under educated?

Why are central banks hoarding gold?

The World Gold Council says gold purchases in the first half of this year were the highest on record.

www.aljazeera.com

Sounds like the Central Banks know something you do not. It looks like you will have to learn the hard way just like the people of Zimbabwe, Argentina, Venezuela. US government adding one trillion to the national debt every 90 days or so, how do you think that will turn out? By the way, Patrick Graham says he will not sell silver back, he only buys it, sounds like he knows something to.

sure thing. Are you also building an underground bunker and attending survival training in the South Jersey swamp with a bunch of likeminded yahoos bracing for Armageddon. Nothing like getting your financial advice from a bunch of conspiracy theory dudes while sitting around a campfire playing soldier.

 

[Dark_Scorpion]

sure thing. Are you also building an underground bunker and attending survival training in the South Jersey swamp with a bunch of likeminded yahoos bracing for Armageddon. Nothing like getting your financial advice from a bunch of conspiracy theory dudes while sitting around a campfire playing soldier.

Do you know the difference between a fact and a conspiracy theory? Zimbabwe had a hyperinflation, so did Venezuela, and Argentina had an economic crisis in 2001. Those are all facts. And the US national debt is going up by $1 trillion every 100 days, that is also a fact.

https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html

Central Banks are also buying gold at record pace, which is also a fact. What is your explanation for that? All you are doing is responding to my posts with pointless remarks that contribute nothing to the discussion nor can you refute anything I am saying.

 

[keepcoming]

Need to keep the posts related to the DR...thanks