Gold and Silver Power Up! - 2022 Inflation Stackage

over 2 years ago (Edited)

It is said that the 8th wonder of this world is the power of compound interest. Unfortunately, it works for the other way with compound inflation leaving the working class crushed in it's wake. As pictured below are envelopes filled with my grocery receipts for 2020 and I'm already missing those cheaper bills from what I'm seeing today.

“Black birds tend to like shiny things.” ~ The Bloody Raven

I tend to keep and file my monthly grocery receipts year over year. I can't keep track of shrink-flation, defined as the reduction of product with the same pricing, but I can see my annual grocery expenditures over the last five years growing much more than the fake 2% official inflation figure flogged to death by the monopoly media of the CBC.

I can't bare to see what 2022 expenses would bring. I'm expecting at least 20% by Fall if it's not here already.

2013 Canada $50 Gold Maple Leaf

2013 Canada $50 1 Troy oz. Gold Maple Leaf

Reverse; Maple Leaf, Security Device Leaf Text; CANADA, 9999, 9999, FINE GOLD 1 OZ PUR Gold 0.9999, Weight 31.10g Diameter 30mm, Thickness 2.8mm

If I didn't get a helping hand from my mom when she downsized and some good budgeting tips from @punkysdad years ago otherwise the accumulative effect would be devastating for being the sole wage earner of the household.

For years I did the sensible things to be responsible with my finances. And one of those goals was to build a cash reserve that would cover four months living expenses should I incur a major unexpected expense or not able to earn an income.

At this point I wish to alert my readers of a friend and Hive Community witness @enginewitty with an urgent need following the recent loss of his home. His girls are okay, but they still have immediate needs. See original @ewfund Post

2013 Canada $50 1 Troy oz. Gold Maple Leaf

Obverse; Queen Elizabeth II facing right Text; ELIZABETH II, 50 DOLLARS 2013 Edge; Reeded Mintage 1,050,564 Reference KM# 1488, RCM# 179951

It was a lifestyle habit in building an Emergency $12,000 CAD reserve by being frugal with my expenditures, content with Thrift store fashions, bag lunches, bike and bus to work, and 🌗 moonlighting a few side jobs. With the home mortgage fully paid I had ample room for a long overdue car.

As the economy is on the verge of runaway Inflation, I decided a few months ago to begin putting the bulk of this Emergency reserve into hard assets before my buying power is further eroded by Central bank printing and poor economic fiscal policy.

The weighting will be 100% gold because it is much less volatile and maximum liquidity should I need the funds in short order. So, this week’s dip yielded me this 2013 Gold Maple leaf. Since I’m at my LCS with a dip in silver too I may as well pick up this bar too.

The RCM 10 Troy oz Silver Bar

10 Troy Oz. Royal Canadian Mint Silver Bar

Front; RCM Logo, Maple Leaves Text; ROYAL CANADIAN MINT, 10 OZ, 9999, FINE SILVER French; MONNAIE ROYALE CANADIENNE, ARGENT PUR Fine Silver 0.9999, 311g Length 90mm, Width 52mm, Thickness 7mm Serialized

With a roll of 2022 Maple Leafs already safe and secured I went for the next best thing being the RCM Silver Bar. Priced at less than 10 Silver Maple leafs this bar lacks the Denomination, which could have been $50 but it is backed by the RCM in purity and quality regardless. The edge is even reeded as if it were a coin.

10 Troy Oz. Royal Canadian Mint Silver Bar

Back; RCM Logo pattern Matte FinishEdge Reeded A great clean photo under indirect natural light.

1976 French 50 Francs

To avoid any confusion with @ssjasha’s posting style, I will spice things up with one of my favorite crown sized coins. It’s not produced as a commemorative issue but as a standard circulating coinage well after most other countries have well gone into fiat. This was a bold statement for France to mint silver coinage for commerce well within memory of President Nixon’s close of the gold on August 15th, 1971.

1976 France 50 Francs

Reverse; Figures of Liberty, Hercules and Equality Text; LIBERTÉ ÉGALITÉ FRATERNITÉ, ⦁ Dupré ⦁ Silver 0.900, Weight 30g Diameter 41mm, Thickness 2.7mm

I’ve already covered this beautiful French coin to a similar 1965 10 Franc post in detail.
Nixon blamed the Currency speculators but, they were countries seeking to redeem their paper dollars for gold. With only $10 Billion in gold reserves and 45 billion in paper dollars outstanding the US had printed themselves in a big hole. Can we say, “Force Majeure.” The public believed the lie and the dollar's buying power has slowly collapsed since.

Eventually, lovely silver coinage like these were subject to Gresham’s Law and disappeared from circulation not long after issue. The only great thing is that we are blessed to have such a beautiful coin in such fine condition in abundance in the market at reasonable prices.

1976 France 50 Francs

Obverse; Wreath Text; REPUBLIQUE FRANÇAISE, 50 FRANCS, ⦁ 1976 ⦁ Edge; Patterned shapes Mintage 5,544,711 Reference KM#941

Yes, I can see this coin was subject to some amateur cleaning by a previous owner but I like it as it was another gift from Nyssacat answering my wish list call, 💋 Thank you Captain.

In the June 2022 New American article Closing the Gold Window 50 years ago is nothing to celebrate by Bob Adelmann, he sums up the 1971 French Finance minister’s thoughts.

This gave the U.S Treasury what France’s minister of finance called an “exorbitant privilege”: The Treasury could merely print $100 bills for a fraction of a cent but spend them abroad for $100 worth of real goods and services. The temptation to continue print those $100 bills proved to be irresistible. When Nixon, by executive order, ended the ability for foreign central banks to redeem paper dollars for gold, he ended the Bretton Woods system, and the world has been reaping the whirlwind ever since.

With my Canadian Government abdicating their responsibilities in keeping our financial system stable even to go far as selling our remaining Gold Reserves in 2016 and now we find out that Justin Trudeau had sold our Nunavut gold mine to the Chinese Government for $1.3 Billion! An election favor no doubt.

American Silver Eagle for size comparison.

Justin Trudeau is bought and paid for by Beijing.

There you have it.
My Canadian made rant.
Best be your own Central bank.

Adding Gold, Silver and Crypto coins in my Stack for that rainy day, are you?”

And thank you for coming aboard my post today.

The #piratesunday tag is the scurvy scheme of Captain @stokjockey for #silvergoldstackers pirates to proudly showcase their shiny booty and plunder for all to see. Landlubbers arrrh… welcomed to participate and be a Pirate at heart so open yer treasure chests an’ show us what booty yea got!