Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on full capacity magazines. (See the Tangibles Investing section.)
Precious Metals:
Bank of England’s refusal to return Venezuela’s gold sets a worrying precedent
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Does China Have Enough Gold To Move Toward Hard Currency?
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Commerzbank: Palladium Creeps Closer to Gold Price
Economy & Finance:
Graham Summers: The Time to Prepare For the Next Financial Crisis is NOW
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Household debt hit a record high of $13.5 trillion last quarter. Here is a quote: “Total household debt is now $837 billion higher than its previous peak, which was in 2008 before the recession.”
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At Zero Hedge: Foreigners Dump US Treasuries As They Liquidate A Record Amount Of US Stocks
Stocks & Bonds:
The VIX has never deserved its reputation as a contrarian indicator
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Active managers are bearish on stocks. A bullish contrarian sign. JWR’s Comment: Nay, I take bearishness at face value.
Forex & Cryptos:
Crypto Market Recovers, But Could Bitcoin Price Fall to $4,800?
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A Hard Fork! Bitcoin Cash Just Split Into Two Blockchains
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When I last checked, Bitcoin’s relative US Dollar value was back down below $5,500.
Tangibles Investing:
Since the Democrats will again control the U.S. House of Representatives starting January 3rd, 2019, I’m repeating this investing suggestion: Stock up on full capacity magazines. There is a chance that congress will enact another ban on magazines that hold more than 10 cartridges. If they do, it will surely include a grandfather clause for the hundreds of millions of 11+ round magazines that are already in private hands. And even if they don’t, the nationwide angst caused by the proposed ban legislation will cause a huge rush of purchases. The law of supply and demand will dictate shortages and higher prices. Buy low, and sell high!
Back in December of 2008, I made some specific recommendations on the types of magazines to invest it. My advice hasn’t changed much, since then. But if anything, I’m now an even bigger believer in MagPul PMAGs. Lots of field experience by our troops in Iraq and Afghanistan has proven that they are incredibly reliable and durable. Plain black 30-round Generation 3 PMAGs are presently available at less than $10 each and sometimes even under $9 each if you watch for sales. There are special “pre-Black Friday” sales running at GunMagWarehouse.com and Palmetto State Armory–two of our affiliate advertisers. Buy all that you need, and then a few dozen more. If there is another Federal magazine ban, you could easily quadruple your money, when selling off any extras.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Add ammo along with the mag purchases. We might be hit with some type of high tax on these purchases come the beginning of the new year.
I disagree with stockpiling mags.
All gun owners I know have dozens for all their firearms. Their value will be less in a shtf situation. People will be spending their tangibles on ammo, not spare accessories.
What would be a good investment would be to have a few spare rifles complete with a half dozen mags and a thousand rounds. Complete packages will sell quickly.
Most people I know do not have lots of mags and only have maybe a few boxes of ammo. I agree that full packages would sell fast, but so would everything else. I know several people that don’t have any more mags than just the one or two that came with the gun, and only buy one box of ammo at a time as they need it from the local feed store at a crazy high price, it’s ridiculous. I have mentioned to friends to “buy some extra, you never know”, and “I Should get some more too”. When it’s finally time “I know a guy, or yea my uncle that lives far away may part with some, but he’s proud of them and I should have bought more too back when I told you too as well.” I think the average gun owner doesn’t have more than maybe a couple hundred rounds and maybe a couple extra mags, and they think they have more than enough. They’re wrong, and it’s going to cost them.
Better to have too many magazines and ammo and not need it, then to need them and not have them.
Most gun owners don’t fire more than 50 rounds through their CCW handguns, less than a box a year through their hunting rifles, and maybe 100 rounds or so through their military style rifles, much less have plenty of spare ammo, mags and parts to keep them going. I’ve told everyone in my classes they should have a milk crate full of magazines for each magazine fed weapon they own, plus a case of ammo for each put away.
This is a golden time to be stocking up, and has been for the last year and a half. Those who haven’t, will be the ones crying about it when the next round of gun control bills start hitting the House floor. Don’t think that they’ll all die in committee; if there is a big enough hue and cry, I don’t doubt some Republicans would cave and go along with it, and the President may sign off on them to try and maintain some peace. Look for the deals, and jump on them.
There is no such thing as “too much ammo”.
When things get sporting (and they will) ammo will be used, on both sides, like there is no tomorrow.
I recall just a few years back when the ammo scare had bricks of 22 LR up over $60.00. At the same time full capacity magazines were hard to get and their prices were at times beyond belief. For example, one of my AR’s is dressed in Magpul accessories in the now unavailable Foliage Green. This is a lighter green than the OD green. I wanted some color matching magazines and could not find any in stock at any of the online dealers. I did find a pair for sale on Ebay for $70.00 each. I did not purchase these and decided to just live with black mags. At this same time I could find black Magpul 30 round magazines for about $30.00 each, the same magazines that you can now find for less than $10.00 each today. I now have seven of the Foliage colored magazines, two of which are still in their original packaging and are for sale at $70.00 each to anyone willing to pay that price. Of course I only paid about $12.00 to $15.00 for each one. One thing I do at each gun show I attend is to buy two to three full capacity magazines. I have about fifty ODG, FDE, and black Magpul magazines. I also have several of the metal magazines and several plastic mags from other manufactures. In all, I have about 65 to 70 (30 round) AR magazines. About 20 are still in their original packaging in anticipating another price run thanks to our Democratic run House of Representatives in 2019. Considering I purchased them for about $10 each and can possibly sell them at $30.00 each, I like the return. Even if there is not a price run on them, I have no issue with having extra mags to go with my AR collection.
Don’t forget 80% kits and reloading supplies.
Picked up some Palmetto Armory mags on Black Friday. Better to have too many after the Democratic Fascists take over. Been looking for ammo deals as well. Got to remember that obama was the best gun salesman in the history of mankind. Midway is out of parts for the 80 percent Glocks. The shortage has already started.