The Old Pawnbroker's Blog

News for Pawnbrokers and Precious Metals Dealers


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“When the next financial panic comes, those without tangible wealth will be totally at the mercy of banks and governments who will decide exactly how much of your own money you’re allowed to have each day.

Just ask the citizens of Cyprus, Greece and India who have gone through this experience in recent years.

It will come to the U.S. soon enough.”



This says it all…”An ounce of gold on April 27, 2001 was valued at $264. On April 24, 2017, the price of gold was about $1,277.”

Cashless Society Getting Closer

And the noose tightens. I paid my mechanic yesterday with cash, mostly hundred-dollar bills. Before doing so I asked him, jokingly of course, “Do you still take cash.” . He smiled and said “Yes but most of my customers, about 90 percent, pay with a credit card.”. He explained that most auto repairs are an unexpected expense. If it weren’t for credit cards, many Americans would be walking because they have no cash reserves.

Germany Gets the ‘Wrong Suitcase’ While Repatriating Its Gold Reserves From US

Very interesting. “According to the economist, the gold bars that Bundesbank repatriated have different labels.” What? Did they remove the swastikas?


Price of Gold Spikes as Investors Get Spooked by Talk of World War III and Nuclear Conflict

Gold is an “emotional” metal.


Why You Should Care About Fractional Reserve Banking

“Our highly levered financial system is like a truckload of nitro glycerin on a bumpy road.”

I guess I see the glass “half empty”. I think there are more bumps than road.


The Debt Ceiling…Biggest Test Of Donald Trump’s Presidency

I just can’t see any “good” way to solve this issue. We (or would it be they) have spent ourselves onto that famous piece of real estate known as between…a rock and hard place also once known as the “Poorhouse”. Looks like our progeny get to move in with us.

David Stockman Warns ‘Everything Will Grind To A Halt’ After March 15th.

I am curiously watching this date.

““I think what people are missing is this date, March 15th2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion.”


Financial Disaster Awaits Us?

“Now that all those traditional values are, by and large, gone, the only thing we have to look forward to is more and more economic and social chaos, followed no doubt by growing government tyranny.”

Yup. What he said.


The Death of Cash & Total Government Control of Spending

“Governments love it. Then they can control you.”

“…they are going to say they’re doing it for our own good”


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