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Get your gold bars at..... Costco?
General Boards - The Lounge
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Replies: 11
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Get your gold bars at..... Costco?

2
Apr 10, 2024, 10:37 PM
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https://www.cnbc.com/amp/2024/04/09/costco-selling-up-to-200-million-in-gold-bars-a-month-wells-fargo-estimates.html

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I'd buy gold over US debt. If given the choice.***


Apr 11, 2024, 7:18 AM
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2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


Confirms my purchasing T-bills and I-bonds

3
Apr 11, 2024, 7:47 AM
Reply

is the right choice.

2024 orange level memberbadge-donor-15yr.jpgringofhonor-cu85tiger.jpg flag link military_tech thumb_downthumb_up

“Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that my ignorance is just as good as your knowledge.” Isaac Asimov
Panta Rhei Heraclitus


Invest in the US government at your own risk, like everything else.***


Apr 11, 2024, 9:08 AM
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2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


Gold was $1300 per ounce 5 yrs ago


Apr 11, 2024, 7:55 AM
Reply

$2354 today
Thanks, Brandon ☠️😅

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that's why William Devane is now the richest man in America

1
Apr 11, 2024, 8:26 AM
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Gold is insurance, not an investment.


Apr 11, 2024, 8:50 AM [ in reply to Gold was $1300 per ounce 5 yrs ago ]
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It will preserve a concurrent amount of buying power that you spent buying it. It's a hedge (insurance) on inflation and/or a dollar collapse.

I see the commuted value penalty was roughly 50% for the latest lottery winner. Think the take-home, after taxes, is around $370 million. You can thank inflation for that. I wish I had a nickel for every video on tiktok/X/FB where they say taxes were $1 billion. Taxes were roughly 230 million on $600 million in income.

2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


The lottery net has always been essentially 1/4 of the winning amount.


Apr 11, 2024, 9:08 AM
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What are you talking about?

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Here.


Apr 11, 2024, 9:29 AM
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Look at the jackpots and lump sum payments over time.

https://en.wikipedia.org/wiki/Powerball#Notable_wins

In 2013 590.5 million resulted in a cash payout of 370.8 million (37.3% penalty-278 million after taxes)
In 2019 a 768 million lottery paid out 477 million (37.9% penalty - $326 million after taxes)
In 2024 a 1.3 billion winning paid out $621 million (52.2% penalty-Taxes TBD)


So the commuted value penalty rose 0.6% from 2013 to 2019. And rose 14.3% between 2019 and 2024.

Inflation.

WHAT I'm talking about is simple. You're losing 14.3% MORE from the lump sum payout in 2024 than in 2019.

2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


So what is your complaint here?


Apr 11, 2024, 9:40 AM
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You won't be able to squeak by with $620 million?

Is that something you really have to worry about?

Wat an odd subject to concern yourself with.

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It's called inflation. It is a concern of many. It's a concern

1
Apr 11, 2024, 9:49 AM
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at McDonalds, the grocery store, when you fill your tank, buy a house, a car, or win the lottery.

The people who lose those concerns are the 1/3 of lottery winners who end up broke in 5 years.

2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


If you are buying physical gold, it has to appreciate that much


Apr 11, 2024, 9:09 AM [ in reply to Gold was $1300 per ounce 5 yrs ago ]
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just to overcome the transaction fees of buying it on either side of the transaction.

Its a terrible investment.

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Replies: 11
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by clemsonfan2000c®

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