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On 7/28/2020 at 4:26 AM, Kaolin washer said:

I would rather have some food to eat,and what i dont like about gold is when you buy it you have to pay tax on it .and if you sell it  you sell at spot and if you make money you now owe the IRS, Hear in Minnesota if i buy over 599.00 worth i have to file some kind of a tax form, also I am not earning any intrest  on it , I would not mind finding some tho

 

I have never collected tax of the gold I sold, nor have I ever paid tax on gold.

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Gold is going up globally, but there appears to be more to it. Our dollar is weakening vs more stable currencies like EUR or even the AUD now due to our historically bad economy (record decrease in GDP, record high unemployment still) and our inability to reign in Covid compared to other more successful countries.

Check out a chart of gold in EUR for instance (or a similar effect with AUD), it's still up, but they are just above May highs, while we have blown way past that mark in USD. That discrepancy is due to our dollar declining, not just because gold is going up. 

I'm sure we'll hit $2000 gold and above if our dollar keeps declining. $2500 gold would be great. The effect is mitigated if we end up paying 33% more for a Minelab in a year or two though. 

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On 7/28/2020 at 7:11 AM, Gold Catcher said:

Reminds me of this guy who mounted a military grade mine detector in front of his jeep and drove through the washes in the El Paso mountains (So Cal, Randsburg area). He found one of the largest nuggets ever recovered in CA ("Mojave Nugget) several feet deep. That was in the 70's...The unconfirmed rumor goes it was Jim Straight. Perhaps some unconventional techniques like that are worth wile thinking about? I suspect no hand held detector would have caught it at that depth.

Gold Catcher,

  The Mojave Nugget was not found by Jim Straight, but by Ty Paulson. Jim Straight knew Ty Paulson, and was prospecting in and around the Randsburg, CA area at the same time. Jim Straight in the ICMJ November 2004 Volume 74 says Ty Paulson found the Mojave Nugget in Benson Gulch on the ridge to the right side of the gulch, which is part of the taft prospectors claim, just south of PCSC (Red Chispa) claim. There have been some pretty good size multi ounce nuggets pulled out from the Red Chispa Claim, and to this date still are every now and then.

Dave

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13 hours ago, DolanDave said:

Gold Catcher,

  The Mojave Nugget was not found by Jim Straight, but by Ty Paulson. Jim Straight knew Ty Paulson, and was prospecting in and around the Randsburg, CA area at the same time. Jim Straight in the ICMJ November 2004 Volume 74 says Ty Paulson found the Mojave Nugget in Benson Gulch on the ridge to the right side of the gulch, which is part of the taft prospectors claim, just south of PCSC (Red Chispa) claim. There have been some pretty good size multi ounce nuggets pulled out from the Red Chispa Claim, and to this date still are every now and then.

Dave

Thanks, Dave. Interesting. I heard several versions of this story but I trust your account is the correct one. I am a member of Taft and also PCSC. This whole area is intriguing from a geology perspective but also heavily worked. Whenever I am out there I hardly ever see another soul, unless there are club outings. This area seems to be given up by most. I have a secret spots though in the Golder Gulch, but it requires substantial hiking. Every now and the I see Pat Keene cruising around there on his atv, but thats about it. 🙂 Love this entire area. But if you hunt there you could think mankind has disappeared . 

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Gold futures trading at $2057 this morning!

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15 minutes ago, klunker said:

How low might the dollar go?

If the Fed keeps printing money like they have been, really low. 🤦‍♂️

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This is just the beginning....Take a look at the picture. This will happen again. Nobody seems to care anymore.

Money Printing.JPG

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