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
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
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
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.
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.
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.
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.
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!
References
Sources
Cultural Action Party of Canada,The Hidden Story of Trudeau’s Sale Of Canada’s Gold Reserves To China
The New American, Nixon’s “Closing the Gold Window” 50 Years Ago Is Nothing to Celebrate
Nautical Hanky Background by ModHanks.com
Cameo Raven Brooch from The Black Wardrobe
Canadian gold showing the golden leaves
Theses coins are so pretty! So it's one reason I have more than one of these and hopefully acquire a few different other countries gold before my fiat dollars are made worthless. I can get a coin at a time and I'm not really worried of the day to day price fluctuations unless I could afford volume buying or leveraged speculation.
Thanks for coming aboard @temileke
French 50 Francs so beautiful. With the 3 amazing figures, I think it's the first time I seen these !
The French were so fond of Neo Classical art as evident in their cultural taste well before the revolution.
Liberty is represented by the lady on the left with the Phrygian cap, Equality is represented by the woman on the right with the Architectural ruler, and center is Hercules representing Fraternity.
Thanks for the comment @olympicdragon
That's the way to go about it , inflation is insane out here and so many people don't even have a clue about how much it impacts us all, we are essentially slowly getting robbed by these banks.
My so-called Financial Advisor wanted me to put it into mutual funds, we just saw what happened since. He just wanted his cut of the fees. I no longer put anything into my RRSP, I haven't done so in years as it is a bit of a Fee driven scam to siphon off wealth from account holders.
I'm waiting to pounce on my next Gold coin. 🐯
Thanks for visiting @bitcoinman
Sheesh well I'm glad you taking a more hands on approach these advisors are scammers
What a beautiful coins… all kinds are represented even a bar.
Thanks for sharing… I have some old French coins. Need to have a look at them more closely one day. Thanks for reminding me.
Have a great Sunday! 👋🏻😁☀️
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The Gold Maple Leaf is for Inflationary Stacking as for preservation of capital. I put a lot of energy, effort and hours into building my Emergency reserve only to watch it's buying power inflated away by my/our incompetent governments.
The Silver bar is for basic Stacking but tradable for other hard assets.
But coins like this French 50 Francs I adore for their history and culture.
Thank you @littlebee4
Thanks so much @kerrislravenhill 😎 for more information about each of them. Much appreciated!
Have a wonderful day today 👋🏻☀️
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I will be on the prowl for the French 20 Francs to complete the Set.
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awesome post!
Thanks @bearbear613
So the Chinese own the Mineral rights to the Nunavut mine. I bet if I dig a bit deeper that Justin Trudeau will also waive those expensive Environmental regulations and allow imported low paid Chinese miners to do the work rather than the local Nunavut.
That gold leaf is frig'n gorgeous!
And you have a heart of gold @enginewitty, and I hope things are falling back into place for you and the girls. 🙏
You are same with the other mods here who likes collecting precious metals 😁..
They are worth it for sure..
It is diversifying into both Precious metals and Crypto, both have similar objectives and goals. One is Physical the other is digital. One is old world value, the other is new world technology.
Silversaver888 and I are long time metals stackers before we got into Crypto.
Thanks for dropping in @jane1289
A smart move @kerrislravenhill. Sleeping better?
Nice shots of the hard assets too.
PD
As you said, losing $2400 of buying power from my $12000 after tax savings is shocking, outright legalized theft by my own government.
Locking it up in legal tender gold bullion has to be the way.
Thanks for all the advice @punkysdad
Smart move Kerris, you’ll never be broke. Poor Witty that’s some shitty news for sure.
Speaking of Witty and his home, I was looking at my Home Insurance and one issue is the deductible being 7% of the cost of rebuilding my home. My Emergency reserves would fall well short but I wouldn't have to borrow as much cash. With a high Inflation economy I'm sure those figures and premiums will explode much higher with construction material and labor costs on top of a diluted dollar.
Thanks for commenting @silverd510
It’s always prudent to put away an emergency fund, and then as you stated runaway inflation is here! I love it when they take away food and fuel from core inflation figures, like no one needs any food or fuel lol!🤣
Awesome shiny, always best to be your own Central Bank!😇
It annoys me to no end when they deliberately hide the current state of the economy with fake figures.
My grocery receipts are my solid proof.
Thanks for visiting @silvertop
Very true…..
And to think most people don’t even stack precious metals….. or crypto most people are drowning in debt!😳
You have a good head on your shoulders and a fantastic financial portfolio. Loving all of the shiny coins! 💰🌟🥈
Stopped by to see how you're doing after reading about your surprise flooded basement situation. Ugh.💦
Hang in there! @kerrislravenhill
!LADY 💗
The repair bills are starting to pile up.
I may lose a months rental income on top of that too.
Thanks for the support!
Crossing my fingers @ninahaskin
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Hopefully things turn around for you, the repair expenses level off and you don't lose the much needed rental income! Not sure if you thought about filing a homeowner's property damage claim. It might be worth looking into especially if you haven't had one in awhile.🤞🙏🤞
Thank you for the !LUV ❤
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Very lovely additions to your stack @kerrislravenhill! It sounds like you have thing in control. Too bad all the governments do not! They fudge the inflation figures be removing food and fuel-like they don't count?! They just like to deflate the actual inflation figures and think that all of the people are too stupid to realize what they are doing! Ugh!!!
Anyway, thank you for sharing your treasures! Take care my sister! !LADY💜🤗🌼
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Almost 3/4s of my Emergency reserve is in gold with enough room for one more coin.
We can see the coming storm, we're prepared but far too many are not.
Taking care Sis, @elizabethbit
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Thanks @kerrislravenhill! Yes, it is unfortunate that there will be many that don't see the writing on the wall. Hopefully they will before it's too late! Take care and enjoy the week.
Your very prudent, sis!
And I must say, I am likewise the same.
But I am a few more years into paying off my mortgage.
I'll try to knock it all down in two!!!
It is really nice to have some passive income, hahaha.
I wish to have more!
Keep it up, sis!
Hug and kisses 🤗❤️😘
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The only weak point of my Financial picture will be my Electric car since I borrowed cash for it. But as strange as it can be I can sell it now for far more than what I bought it for last year, now isn't that crazy? However, I need the wheels and have a plan B to keep it.
"A ninja always has more than one way of attack."
Thanks for the support Sis, @silversaver888
Always, with love 🤗🌺❤️
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Yeah, I have to be content using my old MB, which in quite modern really. I only have 114,500 miles on it, and cars like this they go up to 350,000! Mortgage is the only debt I have.
I'm starting to get bored. Time for a vacation!
Hug and kisses, sis 🤗🌺❤️
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May just as well be a blogging vacation when you pack your laptop with you. Do post the pictures.
Do you like fresh pineapple on your...
!PIZZA
Wow, that's really impressive!
Good job!
Thanks @urun
But not impressive enough to make the cover of SPARTAN LIVING magazine. 😉
"Bludy government! Printin' bunsens oot o' th' air!" 😠 -Keptin
Aye Keptin, It's why yea keeps a roll of these fency peppers by t' Silverton's loo. 🚽😂
Keep on stacking raven — you got this!
👊😎
"Attention all hands, Abandon economy, repeat abandon economy and get your gold and silver wealth out of the rigged system!"
Setting a personal record for gold this year!
Nice to see you back aboard Captain @thedamus
!PIZZA
Your articles are timeless. I stop in way after the article expires, but not on purpose.
Thanks for sharing your info and the means to get them.
I keep my receipts too! I have scanned them all in to chart. I don't even want to look!
Thanks @dswigle
And it wasn't just my two boys eating more.
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You have nailed it with the gold this time, a true collector indeed.
The queen's bust looks a bit worried, the ignorant designer must be sued for his insolence disgrace to the queen's emotions.
Silver bar it's fine and shiny, looks perfect to me.
And finally the French Franc, Dupré has designed a masterpiece artwork of LHE people and they all look gorgeous, Disney should have learned from this artist's work, messing up with PoC ships.
Wish you a wonderful weekend.