Gold $1700/ Oz

[styles1 torchlife]

As the title says gold $1700/ oz now. Standard and poor just moved the USA to AA+ credit ratting from AAA.

This monitory system is designed so we can never payback debt. Our money will always be worth less than the debts we owe.

FUCKED UP!!!!

[Kevin Bumble]

I just heard that this morning too. Remember when it was $300

[Eric S]

its up 65$ today??? thats a huge move.

[Shatner]

Look at Nasdaq stock (down 6.34%) and laugh.

I don't remember when it was $300, but do when it was ~$550

[smolder holder]

I plan on retiring with the 3/4 gram chunk I have.

[Kevin Bumble]

lol, I just bought two tenth's 2 months ago.

It might be worth more now that I've used some

[Emmett's Glass]

I remember when gold and weed were the same price, lol.
E

[akmewon]

I remember when gold and weed were the same price, lol.
E

i second that one lol

[metalbone]

...This monitory system is designed so we can never payback debt. Our money will always be worth less than the debts we owe.

FUCKED UP!!!!

Huh? I think you have it backwards...It is a benefit that money is worth less than debt because then you pay back todays debt with tomorrows cheaper dollars. Now it would be really fuck up if you had to pay your debts back with more expensive dollars...

[drew1492]

Hey if it gets low enough china is going to start importing shit from us. They will start buying fumed bats from us.

A weaker dollar can sometimes boost an economy through more exports, but the US will never default on any debts as long as we have printing presses.

I know a guy who was all freaked out over y2k and picked up some gold coins and I think a small gold bar as well, I would hate to see the return on investment on that.

[metalbone]

y2k timeframe...probably bought in at around 300/oz, the same price as good weed back then.

[Master Yoda]

All I know is that I no longer gold fume anything

[metalbone]

1800/oz yesterday...who would have ever thought that the powers that be would have devalued the dollar so much that gold would cost 1800/z ?

[ALIEN!]

*grabs shovel, heads to cemetery*

[151km]

Guess my dad Isn't a dumbass for hoarding gold.

[CripSkillz]

so ISO spoons fumed should get like 65$ wholesale now???

[Conchis]

To get that kind of money for the fuming you'll have to weigh them before and after fuming...hehehe.... "Contains .001 gram of 24K Gold"

[smolder holder]

To get that kind of money for the fuming you'll have to weigh them before and after fuming...hehehe.... "Contains .001 gram of 24K Gold"

Lol!

[ShttrdSpctrm]

I remember when gold and weed were the same price, lol.
E

I remember that too! now golds gone way up and weed went way down. sure wish i could grow gold, :bangHead:

[Kevin Bumble]

holy fuck! Just think back in the day, all that money spent on weed could have been the same weight in gold, that thought sure makes me feel dumb at the price it is now.

[NUBBLET]

I just heard that this morning too. Remember when it was $300

the first gold price I can remember EVER hearing was 240 oz granted that was way back.

anyone else kinda sketched now? those crazy fuckers ranting about "end times" or "pepsi used to be a nickel" "put your money in gold NOW , our dollar is gonna be worth nothing" appear not so crazy this morn.

[Ronin]

this is why I was asking about the "new gold" thing... I was really hoping there was an alternative, because when I started I bought a little gold chain when gold was $1200/oz. now that I've used a couple of inches of it, it's worth about $25 more then when I bought it. I decided to just throw it in the safe.

[BrassMonkey]

Last time I bought silver it was like $15,wtf. Will it ever drop again, or should I just buy $400 in silver.

[drew1492]

Just picked up a gram today, knowing my luck it will drop $200 an ounce in the next two weeks when people realize the world isnt going to end.

Maybe I should go buy some more ammo before all the wackjobs start hoarding that too.

[Gold Fire Glass]

When I first started my Goldsmith apprentiship back in 1978 Gold was $235 an ounce !!! Mind you my wage was $3.65 per hour. If I knew then what I know now ....... Whole different story :twitch:

[Julian]

The weird thing was when gold was ~250 an oz. in 1999. I came pretty close to buying at least a qp.

[Eric S]

what increments do you guys buy silver & gold in for investing? I have a few oz's of eagles, but the premium on them is pretty high and you never get any of it when you sell them. 7$/coin sucks.

the other thing is, with gold looking at 2000$+ in the not too distant future, and silver coming closer to its historical 16:1 ratio of gold (currently at around 45:1) silver could easily top 50 by the end of this year and 100 in the next few years or less. at that time, even though inflation will have gone up, you still wont always need to buy things that cost 100$.

I've been looking into older us coins that are 90% silver and even the dimes, which are worth 3$ now could be 10$ or more soon. what about even smaller increments?

grams? grains? can you buy silver bb's for close to spot? how consistent are the weights? I'm just thinking what good is lots of loot in an emergency if its in unreasonable increments.

[smutboy420]

WOW I have to say I am totally impressed to see that most are starting to take notice of the situation and are finely starting to see whats up. I even hear people out in public talking about gold and silver.

Its more to do with the fact that gold is not really worth more. Its because the dollar is worth less and less and is so week it takes a bigger and bigger pile of cash to buy the same oz of gold as it did back when a dollar was worth more.

Even Donald trump only yesterday just excepted gold over cash for the first time in his life when he took 3 kilos of gold as a down payment for a lease on office space for APMEX's new NY office.

[gn0me]

To buy silver on the cheap, ask your local coin shoppe if they will sell you "melter" silver, pieces and coins that they intend to melt since isn't cast into a traditionally accepted bullion form. Usually these have already had the silver content analyzed, or it's stamped on them. I purchased almost an ounce near the spot price a couple years ago and have been blowing glass with it since - I love (hate) how it's worth more now after use than it was when I bought it ^_^

[Julian]

I bought a $100 Swiss gold ingot in 1999, that was 10 g at th time... now the half I have left is what, $350? Like JJ says though it's the US dollar going down as much as metals going up. Silver, too- I recall sterling bead dealers and customers worrying when the silver price went from $10 to $18, wholesale beads from .25c a gram to .45... and now, I'm out of the bead business but must imagine sterling is unaffordable and much more of a luxury with silver having over doubled again, dollarwise.

[somberbear]

silver is getting higher in demand now with manufactuing not just jewelry. silver solder and silver substrates are become very popular. along with high grade silicon , and copper. couple all that with the decline of the dollar, and people hardening there currency.... and you get a nice fat bubble...

remember just like keeping a head of imports... its not where you are but where you need to be to keep ahead.

[metalbone]

...he took 3 kilos of gold as a down payment for a lease on office space for APMEX's new NY office.

man, 3 kilos of gold = about 380k right now, probably fit in the palm of my hand. the dollar sure has dropped in value...

[Julian]

Right, I think only a few percent (at most) of the world's silver is used in jewelry. Other metals have gone way up, too... take something random like uranium (http://www.infomine.com/chartsanddata/chartbuilder.aspx?z=f&g=127677&dr=15y), which went up 4-5 times or more since 2000 and also had some crazy highs.

The boro color companies have been dealing with unpredictable costs for a lot of their chemicals over the past few years, too from what we've heard here.

[NUBBLET]

its a viscious cycle. If US workers were reasonable they wouldnt ask 60$ an hour but then if living expenses were reasonable they wouldnt need to ask or demand such high wages. The owners most times in big companies dont do the physical part but get the most pay which then causes the workers pay to drop , then they get upset cause its hard to feed the family and maybe enjoy a monthly movie and form unions to fight back and get the wages they feel they deserve. Meanwhile the wages of the top heads doesnt reflect this by even the slightest drop so those companies then increase the end consumer costs(inflation) so essentially the workers fought to fuck the public and themselves and drive the value of a dollar down.

Why do we continue? we need to focus on lowering the pay of the top heads not just increasing the pay of lower laborers.

I worked at UPS for a couple years , in 45 mins I by myself would load a semi trailor , on avg they said 10000 packages in a truck , at that time it was avg of 17$ per package to ship. Do the math it works to 17,000 in less than an hour , my pay was 6 bucks.
I made 8 bucks an hour busting ass , the driver standing there munchin and watching made 25 an hour. Where and how is this fair?

Ok Im done , but its all true

[metalbone]

... so essentially the workers fought to fuck the public and themselves and drive the value of a dollar down.

It is not the workers that have caused the dollar to fall in value. Far from it. It is none other than the fed, as they are cranking out the digital greenbacks like there is no tomorrow. That's why gold has surpassed 1700/oz. The workers are just trying to make ends meet because the dollars they earn are purchasing less and less over time due the dollar debasement, compliments of the fed.

The situation you talked about at ups is just basic labor economics, nothing more, nothing less. If you wouldn't accept $8/hr doing what you did, someone else would gladly step right in and take over. And that $17/package covers labor across the entire distribution chain (not just you loading a truck), capital expenditures, land, buildings, maintenance, vehicles and trucks, airplanes, debt service, insurances, healthcare, gasoline, and hundreds and thousands of other expenses. My guess is ups is lucky to make 10% profit on each $17 package they ship.

[NUBBLET]

It is not the workers that have caused the dollar to fall in value. Far from it. It is none other than the fed, as they are cranking out the digital greenbacks like there is no tomorrow. That's why gold has surpassed 1700/oz. The workers are just trying to make ends meet because the dollars they earn are purchasing less and less over time due the dollar debasement, compliments of the fed.

The situation you talked about at ups is just basic labor economics, nothing more, nothing less. If you wouldn't accept $8/hr doing what you did, someone else would gladly step right in and take over. And that $17/package covers labor across the entire distribution chain (not just you loading a truck), capital expenditures, land, buildings, maintenance, vehicles and trucks, airplanes, debt service, insurances, healthcare, gasoline, and hundreds and thousands of other expenses. My guess is ups is lucky to make 10% profit on each $17 package they ship.

read it again in whole and dont take a sentence out of context , I start off saying its a cycle, figuring its common sense that all parts of a cycle have a part to play in the next . They say "the squeeky wheel gets the grease" in truth the squeeky wheel gets replaced and discarded , then they charge the consumer(which now is newly unemployed) more since they had to replace the wheel. Poor wheel.
Basic economics? so the guy standing right next to you doing NOTHING gets 25 and the guy busting ass the whole time gets 8, and this is basic economics?

[Bglass]

no its not basic economics, thats life! sorry but if i get a higher position and higer pay and the guy who replaces me is were i left off or further back do you think im going to go cry for a lesser wage and position? no!
am i going to still want higher pay and grow bigger in the company? yes, will i still feel sorry for those others? no, but id still try my best to make there job easier in the long run, which if you can load a semi truck in 45 minutes id say that your job got considerately better than it would have been 10-15 years ago. it sucks sometimes! but its reality, no matter what economy you live in! you go to school to get a better job or you learn a trade or do something else like you have and your at where you are now and not where you were.
Darwin effect, survival of the fittest.
ive gotten 5 raises in the past 2 1/2 years and considerably better benefits, i started from the bottom and not much more than what you were making at ups, i hated it too and dreaded it, but my personality doesn't give up and im a go getter more than others, you have to play the game right.
those who put interest into what they are doing and figure out how to do it better and who is respectful and considerate to those who give you the chance go further, those that dont... go looking for other things. and again that's life and its different for everyone.
but there is nothing stopping anyone or any of you from being the next muti millionaire or next successful story other than yourselves, you probably wont ever get there off glass but if you have more interests and skills other than glass you have a great chance. so do i think glass will be the way for me and my family? hell no! but with it as a side job and for self reliance and to have pride it will help me. is glass the only thing for my life?, no do i have many other interests i can exploit or trades i can consider? sooo many!!
gold or metal at whatever price, if you let it get you down and point fingers rather than taking advantage and pointing yourself in the right direction than it wasn't gold fault or the government or feds... i know many, many many people who even now are going further than where they were 5 years ago and everyday there is more and more people reinventing them selves to be better. you control your life.

[metalbone]

so the guy standing right next to you doing NOTHING gets 25 and the guy busting ass the whole time gets 8, and this is basic economics?

yep, because if the guy getting 8/hr quits, another will step in. I never said its fair, it just is.

[Eric S]

back to the topic of the thread....


i've been buying old coins on ebay. some people dont like to have their real money trades on paper (or electricity) and like to buy metal for cash in hand. my local coin shop charges decent premiums on nice coins and pretend not to have older coins that sell for closer to spot price. Just by checking auctions that are about to end, you can get coins that are for sale for very near spot price often with free shipping. As a bonus you can get older coins that have a bit of historic value as well. I've scored a bunch of mercury dimes at spot, and just got some barber quarters for below spot.

[Izzy Spun]

Huh? I think you have it backwards...It is a benefit that money is worth less than debt because then you pay back todays debt with tomorrows cheaper dollars. Now it would be really fuck up if you had to pay your debts back with more expensive dollars...

I'm sorry, but this makes less than zero sense to me.

[Ronin]

it's pretty simple. let's say you owe $50,000. the value of the dollar goes down, so you charge more for your work, but you still only owe $50,000, because the terms of the contract are already set and can only be changed if you agree to them.

If the value of the dollar completely tanked right now, it would totally benefit people who owe specific sums of money. take the Wiemar republic in the 30s for example. people were getting millions of marks for their produce, so you pay your past debts off quickly with money that you got for a single loaf of bread.

other than being about to get out of debt very quickly you're still pretty screwed, but at least there is a bright side. lots of companies suffer at that point because they are getting paid back in devalued dollars, and raise their prices on new debt, continuing the downward spiral.

quantitative theory of economics is pretty scary, and easilly provable in the real world. from 1792 (the founding of the US Mint) to 1913 (the creation of the Federal Reserve fiat money system) the US Dollar lost 5% of it's purchasing power. From 1913 to 2010 the US Dollar lost 96% of it's purchasing power.

Just think of it like this. In the 1950s, a bottle of soda at a gas station was $.05. in the 1980s it was $.50, and today they are roughly $1.80. in such a short period the money in our pockets has become completely worthless by comparison to the starting point.

it really explains why gold costs so much now. and with the historic 16:1 price ratio of gold to silver, one of two things is bound to happen is short order. either the price of silver will skyrocket beyond belief, and make people like me very wealthy, or the gold bubble will burst, making a whole lot of people homeless. there is a good possibility that the price of silver is being artificially suppressed, and if it turns out to be true, you will wish you had some.

[metalbone]

yep, thats true. but if the economy sucks while devaluation is rampant, other necessities lke food will siphon away those devlaued dollars and you'd still be in a debt position, unless of course you bought gold or silver prior to the devaluation. In which case, you sell the metal for devalued dollars to get rid of your debt.

If you didn't buy gold/silver before the devaluation, well then, good luck trying to make ends meet in a lousy economy with hgher prices across the board. And the true stagflation/devaluation hasn't even really hit.

[po-boy]

I bought a gram a few months ago knowing I'd want to fume some gold, I've fumed maybe 6 pieces with it. I cried every time I did because the gold didn't show, with the exception of 2 pieces I did last night. hurts like hell to fume gold, silver is bad enough.

[Eric S]

I bought a gram a few months ago knowing I'd want to fume some gold, I've fumed maybe 6 pieces with it. I cried every time I did because the gold didn't show, with the exception of 2 pieces I did last night. hurts like hell to fume gold, silver is bad enough.

hurts to fume with gold?

i dont get it.


I've heard people semi-seriously say that they plan on doubling the price of their gold fumed prodo since the price of gold has more than doubled. while i do advocate keeping up with inflation, the cost of a piece is not based only on the cost of one of the materials. it should be easy to fume 200+ pipes with gold off of one gram. When you look at it that way, its gone from .15c per piece (at 30$ a gram) to about .29c. still a significant % up, but the cost can be covered by adding .14c to the piece, not doubling it.

also thats just a rough estimate, some people can probably fume more than 200 pieces from 1 gram depends on the piece and how heavy etc.

in my book gold and silver are still by far more economical means of decorating glass than color.