RANT: I think that taking it for “charity” isn’t right!

Sunday, August 30, 2026

https://nypost.com/2026/08/14/lifestyle/builders-find-10-million-in-gold-during-brewery-renovation/

$10M of gold found hidden in brewery cellar while laying sewage pipe
By Ben Cost
Published Aug. 14, 2026
Updated Aug. 14, 2026, 7:54 p.m. ET

*** begin quote ***

They turned crap into gold.

A routine renovation job in Belgium took an unexpected turn on Tuesday after builders happened upon a gold hoard worth over $10 million while installing a sewer system.

“Our first reaction was actually disbelief,” an 18-year-old student worker named Kobe told local media outlet VRT while recalling the unexpected haul. “Of course, we hadn’t expected to find gold.”

*** and ***

Under Belgian law, the rightful owner has five years to lay claim to the fortune. If they don’t, the forgotten gold can be divided between the finder and property owner provided it’s not associated with a crime.

*** end quote ***

What’s wrong with “finder’s keeper’s”?  I sure wouldn’t tell anyone what I found. Sorry, but I can see all the politicians and bureaucrats, grifters, and “do gooders with your stuff” crowded around to “dip their beak” in your find.  To use an expression from the movie “The Godfather”.  I think the Mafia was better than the Gooferment!  Five years is a long time for the “rats to eat the seed corn”?

Argh!

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MONEY: What to hold and in what form?

Thursday, October 9, 2025
<<PRICES ARE AS OF 2025-10Oct-03>>
 
In my mind, what form of “gold” should I be buying?  
  • Dollar cost averaging into ₿ at Swan.com has been an easy winner.  
  • GOLDBACKs despite a significant seigniorage  —  now with 1 oz gold spot $3,892.75; then 1000 GOLDBACKS is about $7,820 per ounce equals about 100%  —  makes it unsuitable for holding any significant amount of gold in GOLDBACKs. But one can have extremely small (i.e., ½ GOLDBACK = 1/2000 T Oz. for $3.91 for 0.0005 of an Oz) amount of gold that can’t be replicated in a physical form at any price.  Smallest physical gold product is 1 gram = 0.0176 of an ounce for about 90$ which equates to 15K$ per oz.
  • SILVERBACKs have even a worse ratio.
  • SILVER can be held in 1 ounce rounds or pre-1964 US Coins aka junk silver.  One ounce rounds can be bought at about $50 per oz which is about $2 over the spot price.  Seigniorage is about 4.25%
  • GOLD can be bought in 1 ounce generic rounds for $4,002.85; spot is 3,893.85. Seigniorage is about 2.79%
It’s a hard call because of the high cost barrier to entry.  To be practical, 20 oz of gold (one sleeve) is 80k$ and a sleeve of silver is $1k.
 
Feels like silver is the way to go.
 
YMMV
 
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MONEY: “Labor Day” is a reminder of the effect of fiat money on the labor wage rate — Where is the $ 22-per-hour minimum wage?

Monday, September 4, 2023

https://schiffgold.com/commentaries/we-dont-need-better-government-policies-for-workers-we-need-better-money/

We Don’t Need Better Government Policies for Workers; We Need Better Money
August 31, 2023 by Michael Maharrey

*** begin quote ***

Labor Day is coming up. That means we will hear a lot about the plight of American workers. And we will undoubtedly hear calls for new policies to help make their lives better. But we don’t really need more government policies to help workers.

*** and ***

When he announced the closing of the gold window, Nixon said, “Let me lay to rest the bugaboo of what is called devaluation,” and promised, “Your dollar will be worth just as much as it is today.”

This was also a lie.

The dollar has lost more than 85% of its value since Nixon’s fateful decision, based on the CPI calculator. The purchasing power of a 1971 dollar is equal to less than 14 cents today.

*** and ***

Johnson promised removing silver would have no impact on the value of US coinage. “[The] Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin,” he said.

He was lying, just like Nixon.

When LBJ signed the 1965 act, the value of a dollar was almost exactly the same as it had been in 1792—0.77 ounces of silver. By 1980 the dollar had plunged to 0.02 ounces of silver. Today, a dollar today is valued at about 0.06 ounces of silver.

What does this have to do with the minimum wage?

Consider this: In 1964, the minimum wage stood at $1.25. To put it another way, a minimum wage worker earned five silver quarters for every hour worked. Today, you can’t even buy a cup of coffee with those five quarters at face value.

But today, the silver melt value of those five quarters stands at over $22.

That’s a $ 22-per-hour minimum wage.

Now flip things around. Today, it takes 88 quarters to pay a $20 minimum wage. If you paid that in 1964 silver quarters, the value of the metal would be something in the neighborhood of $390!

*** end quote ***

That’s a $ 22-per-hour minimum wage.

So it you’re asking for a higher “minimum wage”, remember that the same Gooferment asking is the one that screwed you in the first place!

Focus on the true cause of “inflation” and why you can’t make ends meet.

Argh!

Happy “Labor” day, suckers.

—30—

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MONEY: The coming default by the US FED / Treasury?

Saturday, November 12, 2022

https://www.zerohedge.com/markets/are-you-ready-coming-us-government-default

Are You Ready For The Coming US Government Default?
by Tyler Durden
Monday, Nov 07, 2022 – 07:20 AM

Authored by MN Gordon via EconomicPrism.com,

*** begin quote ***

The vast herd of investors are a deluded crowd. Following the Federal Reserve’s much anticipated 75 basis point rate hike on Wednesday the major stock market indexes jumped upward.

Optimistic investors keyed in on the Federal Open Market Committee (FOMC) statement and, in particular, the remark that the Fed, “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments.”

*** and ***

In other words, this bear market may not bottom out until well into 2025. What’s more, the entire dollar based financial system will likely blow up sometime beforehand.

*** and ***

But many won’t recognize heavy handed monetary policy as reasons for their disappointment. The erosion of purchasing power can be subtle over long periods. Moreover, the effects of currency debasement policies extend to all corners of the economy.

*** end quote ***

Depends upon how you define default. What happens when no one wants to buy US Treasuries?

It’s going to be ugly. As the interest rate goes up, more of the Federal budget should go to interest on the debt. If they don’t cut, then more dollar printing.

A vicious cycle.

Sigh!

But what will be the form of it? Us tin foil hats are trying to guess will they just: “print”, “default on the bonds (i.e., tough <synonym for excrement> you suckers)”, or something involving a FED version of mandatory bitcoin (i.e., cash is recalled just like gold was)?

And, then what will the sheeple do?

—30—

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INSPIRATIONAL: The value of time

Friday, May 20, 2022

https://palexander.substack.com/p/the-last-wishes-of-alexander-the?token=eyJ1c2VyX2lkIjo0MTQyNTAzMCwicG9zdF9pZCI6NTQ4NDMyMzUsIl8iOiI4Wkx4aCIsImlhdCI6MTY1MjU0MjE1MSwiZXhwIjoxNjUyNTQ1NzUxLCJpc3MiOiJwdWItNTc5MzU2Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.ZJGAnfu5Bt83VIBS_AjP9GF2nPJBx6I-5NZuQn_U07Q&s=r

“The last wishes of Alexander the Great”; I am seeking to verify this by some fast extensive reading, but if so, this is stunning and I wanted to share…so light reading 
Dr. Paul Alexander

*** begin quote ***
 
The Greatest Military General in History,, who only lived to be 32 Years old

“My first desire is that”, said Alexander, “My physicians alone must” carry my coffin.”

2) After a pause, he continued, “Secondly, I desire that when my coffin is being carried to the grave, the path leading to the graveyard be strewn with gold, silver and precious stones which I have collected in my treasury”.

3) “My third and last wish is that both my hands be kept dangling out of my coffin”.

The people who had gathered there wondered at the king’s strange wishes.

One of his generals who was surprised by these unusual requests asked Alexander to explain.

*** end quote ***

Read further for the logic.

And, I really don’t care if it’s true or apocryphal.

“I fear all we have done is awakened a sleeping giant.” — apocryphal quote attributed to Admiral Isoroku Yamamoto played by Mako in the movie ‘Pearl Harbor’

It’s so true.  And, I wish I had GROKKED it as a young lad.  I did become a little L libertarian due to Robert A. Heinlein; maybe I should have absorbed the value of my time at that time. Not seven decades later.

Tempus fugit

https://youtu.be/0Zo0zN8ug-M

—30—

 

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GOLDBUG: Time to diversify savings?

Saturday, February 12, 2022

EMAIL TO LUDDITE AND OTHERS

Bitcoin: The Inevitable Path Toward Global Adoption Of The Next World Reserve Currency https://www.zerohedge.com/crypto/bitcoin-inevitable-path-toward-global-adoption-next-world-reserve-currency

So, if the USD has a shelf life partially due to historical precedence and partially due to fiscal irresponsibility (overprinting of the money supply), what comes next? What replaces the USD? Another fiat currency? It’s possible, but my guess is the days of trusting a centralized party to maintain a stable supply of a currency have come and gone. Why trust, when you can just verify? An argument could be made that gold is today’s reserve asset as it is held by the majority of central banks.

RESPONSE

Not sure what to say on this, it’s above my pay grade.

MY CONCLUSION

Me neither. But, with the Gooferment’s inflation destroying the U$D’s value, it would seem that “diversification” of savings is essential to preserving what little wealth one has. 

Pre-1913, people saved gold and silver coins.  Since there was a gentle price deflation in the USA during that interval, it was a great strategy for preserving wealth.  After 1913, the erosion began, I blogged in June of 2006 about Evy’s Dad and his Fifty Dollar bill  —

https://reinkefaceslife.com/2006/06/30/rant-a-visit-from-one-of-my-favorite-socialists/

*** begin quote ***

My now departed father in law used to have a folded up fifty dollar bill in his wallet. He had carried it their since he was a young man, so that he’d “never be broke”. He was blue collar working guy. Salt of the either. Raised his family, paid his bills, and did the best he could. He was poor! BUT, he never realized, (I didn’t tell him cause he wouldn’t have believed me! I was just a child in his eyes.) that HIS beloved DEMOCRATIC (not that the R’s are any different), silently stole his “fifty in sunken city”. Yup, when he put that Fifty in his wallet if could buy lots of stuff: A hundred gallons of gasoline. Feed his family for a week. Ffity cartons of his beloved Lucky Strikes. Pay an entire hospital bill for an accident. It had value 60 years ago. After 60 years of inflation, I didn’t have the heart to tell him that his beloved Fifty was really was worth about 13 cents. Sad isn’t it.

*** end quote ***

As you know I like gold and silver bullion coins, but recently I’ve been thinking about diversifying to bitcoin.  Now I’m thinking about GOLDBACKS. I’ve dabble in BITCOIN and ETHERIUM.  I’ll probably dabble in GOLDBACKs too.  My bullion coin dealer is shifting out of coins and into middleman.  (Why use him when I can go directly AMPEX or others?). Sigh. So in March, I’ll be shifting.  Not sure exactly what mix but I’ll do something.

YMMV

# – # – # – # – # 

“Three hundred years from now where will you be and where shall I be?” — Thich Nhat Hanh

—30—

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MONEY: Bloomberg Intelligence Projects $50 Silver in 2021 | SchiffGold

Friday, January 1, 2021

DECEMBER 23, 2020  BY SCHIFFGOLD   0   0 Saxo Bank recently projected silver will soar to $50 an ounce in 2021, powered by loose monetary policy along with the push for “green energy.” Bloomberg Intelligence is now making a similar call, saying silver will be “the primary metal” benefiting from electrification and quantitative easing in 2021. Gold set a new record earlier this year and briefly traded above $2,000 an ounce. In a recent report, Bloomberg Intelligence senior commodity strategist Mike McGlone predicted silver will follow gold toward a record high of its own.

Bloomberg Intelligence Projects $50 Silver in 2021 | SchiffGold

# – # – # – # – #

Clearly higher metal prices are predicting inflation from all the FED’s action to stimulate the economy.

The result will be a harder life for the “middle class” if there is any such left.

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GOLDBUG: This Gold Rally Is Different For One Critical Reason

Thursday, September 12, 2019

From Birch Gold Group This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Why the gold rally might be different this time, gold could continue to soar if the Fed keeps cutting rates, and gold and silver prices push higher following weak U.S. jobs data.

Source: This Gold Rally Is Different For One Critical Reason

*** begin quote ***

Isbitts believes that this one, however, will be markedly different. In the previous two instances, while the gold market flourished, it also had a safe-haven competitor in the form of government bonds, as the 10-year Treasury’s yields stayed between 4% and 5%.

*** end quote ***

It certainly seems that the Gooferment bonds are no longer competitive in the “safety” dimension. Nor, would they compete on the “ROI” dimension (i.e., gold pays no interest)!

It’s a sad state of affairs the “We, The Sheeple” will find themselves in. Like Venezuela, Zimbabwe, and German Weirmar Republic.

Hope everyone is saving nickels since they are the only currently circulating US coin with any intrinsic value.

— 30 —

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MONEY: Virginia repeals sales taxes on money

Tuesday, January 23, 2018

http://blog.tenthamendmentcenter.com/2018/01/now-in-effect-virginia-law-takes-first-step-to-support-sound-money/

Now in Effect: Virginia Law Takes First Step to Support Sound Money

*** begin quote ***

RICHMOND, Va. (Jan. 7, 2018) –  On Jan. 1, a Virginia law that repeals sales taxes from some purchases of gold and silver went into effect. It represents an important first step toward encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money.

A bipartisan coalition of delegates and senators sponsored House Bill 1668 (HB1668) and Senate Bill 934 (SB934). The legislation exempts gold, silver, and platinum bullion or legal tender coins whose sales price exceeds $1,000 from state sales tax. Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000. With gold over $1,000 an ounce, a single bullion coin will exceed this threshold.

Under the new law, the exemption will remain in place until June 30, 2022.

*** end quote ***

This seems to be the first step to “killing” the Fed.

It’s a backdoor way but who cares how we can do it. Just that we do!

# – # – # – # – #

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MONEY: Bitcoin “Not Backed”; so what “backs” FRNs?

Thursday, December 7, 2017

https://fee.org/articles/fed-official-decries-bitcoin-as-not-backed/

Friday, December 01, 2017

Fed Official Decries Bitcoin as “Not Backed”
Bitcoin is backed by the use value of the distributed ledger in the underlying technology of the Blockchain.
by  Jeffrey A. Tucker

*** begin quote ***

Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system.

To reiterate, an official speaking for the nation’s central bank that manages the global reserve currency – the institution that has long bragged about its power to bail out the entire world with the magic powers of the alchemist – has put down Bitcoin for being untrustworthy, unbacked, and unsound.

*** end quote ***

Will someone please tell me what is backing up the current Federal Reserve Notes that pass for “money” today?

I can’t believe the hubris of some people.

The Federal Reserve Note, since 1970, has lost 99.99% of its value. There maybe even some 9’s at the end of that percentage.

I’m just shaking me head at this “attack” on bitcoin.

I’m speechless.

You should be too.

Save your nickels! It’s only thing worth anything — it still has some silver content. For now!

Argh!

# – # – # – # – # 

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