The gold market is essentially frozen right now. When I heard that the government was doing stimulus checks, I decided to add a half ounce of gold to my bullion collection as a speculative bet that the financial system was about to collapse and gold would be a good hedge. Most of the websites were already running out of supply and I had to search carefully. I found some American Eagles at a store in Tampa I do business with, but was told there was extremely high demand and it would take 7 or 8 days to process my order. A week went by and then I was told that they might get some in two weeks. Two weeks went by and now I'm told it might be 2 months. As it stands now, I don't expect to get my gold and in two months they will probably tell me it will be a year or so. If I can't take physical delivery in 4 or 5 months I will simply dispute the transaction and get my money back. The only things that I can find that are still available are proof coins or oddball offbeat coins selling at ridiculous premiums. So I think that if you don't already have gold it's too late to get into the market. Maybe there will be a brief window of opportunity between the time that the lockdowns end and the final collapse occurs, but its looking pretty iffy to me. This just goes to show how contrived the financial markets are, if the demand for a commodity is high and the supply is 0, then the price would trend towards infinity, or at least a very large number. Instead we're trading in a narrow range around $1700. This dynamic is sort of an inverted image of the oil market circus; the thing that is fundamental for modern industrial society to function now has a negative value; ie it's better off if it was never mined. At least the negative value thing was short lived, but I think it's a strong symbolic statement about the state and worth of so-called Western Civilization.
Over the years I have vacillated over whether I should join the BTFD crowd, as the Fed is now literally printing trillions of dollars a week, we have zero reserve, purely fictitious banking, and the US dollar just trundles along like everything is just fine. Nothing seems to matter, the staus quo will be maintained. However, when the question about the PTB being able to maintain the illusion indefinitely was posed to the Cassiopaeans, they were basically like "Nope." So I have been patiently waiting and playing the long game, as I tend to believe the Cs.
Ursus Minor said:
Optimists are buying gold, pessimists are buying canned food.
Well, I would say it is better to have both, and food before gold, diversified portfolio and all of that
And you're absolutely right; possession is 9/10 of the law and doubly so when you're holding financial instruments that can make you immune to the economic reset/Beast system or at least provide you some flexibility when they decide to impose it. If you can't hold it in your hand, you don't own it. I've even been considering burying some of it in a hole in case they break down my door and do confiscations, but I haven't gotten that paranoid about it yet.