3-month T-bill yields were down to 0.11 percent, or basically, zero. After inflation eats 5%, that's a 4.8% negative yield to put your money into government bonds. Considering the state of the government these days, I'd almost rather put the money under my mattress.
The TED spread increased again, too.
A friend at work was trying to buy silver last week during business hours, so I overheard his struggles in trying to procure some. Another friend told me that prices for silver were 50-60% above "spot price." This guy says just 10%, but still. I didn't know what "spot price" meant, so I looked that up.
Seems that spot price is the price that silver (or gold) trades for on the open market; kind of like a stock price. So some sellers are selling precious metals for a large premium above the market price, presumably because demand is high from manufacturers, and the general public trying to hedge their money in precious metals. Strangely, gold was down 23% last week. Seems like they would track together.
Frankly, I'm not sure it will make a difference. I guess it has historically been safer to have gold and silver in severe economic hardship, but it's kinda hard to spend, y'know? I guess if you're just hording your money there, riding out the storm, then that would be OK.
But in this current situation, nobody knows anything, really. I moved our money into "safer" investments, but not before it lost 9% more on Friday.
I wonder how much my Bevo Buckle is worth?
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