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 Replies: 8 / Views: 1,366 |
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Rest in Peace
United States
9104 Posts |
He keeps telling me I should get rid of my worthless "fiat" money and put it into PM, or even copper. I notice that he's perfectly happy to take all the "worthless fiat money" I bring him, and give me PM.
What a ripoff.
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Response: Fiat money becomes worth a little bit less every day/week/month. As long as the dealer can spend your fiat money on a little more PM than he sold you, he's ahead of the game. He doesn't want fiat money, either, but will continue to take it as long as he can trade it quickly for something else.
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Pillar of the Community
United States
2661 Posts |
Isn't that kinda how the retail business works?
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Valued Member
United States
123 Posts |
As you said, the fiat money obviously isn't worthless at this time as it definitely has buying power; however, the amount of buying power is certainly falling. When you deal with the dealer, you are paying for the convenience of using him, which is how he can continue to be a dealer.
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Pillar of the Community
United States
5833 Posts |
Business ≠Cash flow = Closed Door
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Pillar of the Community
United States
4989 Posts |
Actually there has been very little change in the buying power of U.S. currency for locally produced goods and services which constitute 88.5% of all consumer purchases.
Also, the rise in PM's has far exceeded the buying power of the U.S. dollar relative to any basket of locally or globally produced goods. That suggests a bubble -- PM's should rise no faster than, say, the "Big Mac Index" (cost of a Big Mac).
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Rest in Peace
 United States
9104 Posts |
We used to sell strawberries for 50¢ a quart, and corn for the same price a dozen. Check your supermarket or farm store and get back to me. Heck, I saw a church selling corn for $5 a dozen wednesday.
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Pillar of the Community
Canada
3692 Posts |
I'd hate to have a dealer pushing things on me for reasons I already know. Also those dealers that say, "X is up/price of X has gone up". That's great, tell me when it's on the move downwards. I'd be more willing to stock up on anything if the price went down, sure, but don't expect me to just bandwagon - I'd rather sell than buy if it came to that.
I'm moving out of PMs and into special sauce and sesame seeds.
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Pillar of the Community
United States
4008 Posts |
Quote:
We used to sell strawberries for 50¢ a quart, and corn for the same price a dozen. Check your supermarket or farm store and get back to me. Heck, I saw a church selling corn for $5 a dozen wednesday. Indeed so. I remember many a store that would sell big fresh and tasty ears of corn, 10 for a buck. These days, they are 2 for a buck on sale, IF they have any available. Going by the corn index, we have 400% inflation in the last 30 or so years. Besides that, bought any gasoline or heating oil lately?  |
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Pillar of the Community
United States
667 Posts |
We still sell all the sweet corn we can for $2.50 doz. At that price I still make a nice profit but there is no middle man either. I could sell it between $5.00 and $7.50 without a problem if I choose too.
Labor rates out in the country are up as well. I now pay my summer help $18 hr.
However if someone is gong to tell me that local produced products is still cheap let me know where to move.
LCS will pat 23 x for junk silver and has a nice mark up on coins. I do like UC Morgan's and buy them when I find ones I like. I often have to pass on his because his mark up is too high for me.
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Replies: 8 / Views: 1,366 |
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Posted 08/13/2011 02:52 am
