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Told a friend about silver last week. He bought futures, sold them today. More than doubled his money.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
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The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Decide not to buy physical or ETF. I have a feeling this is short lived and not going to make any big profit. I don't know what I'm doing maybe I'm wrong.
There was a huge truth bomb buried in there. The establishment media is not targeting the Reddit/wsb crowd with talk about silver. They are targeting older folks with massive amounts of money on the sidelines. Between the existing PM investors and older folks watching CNBC, silver is going up. And there is a lot more money that can follow, much more than the vast majority of small wsb players have ready to invest (obviously there are some big players in GME too, as I posted earlier).
Many big players hold gold and silver, including Citidel. Silver going up will help many of them, especially if they still need cash to buy GME to cover shorts. But how much can they gain? If their silver holdings double, how much money will they raise?
They are playing with fire. They can spark a huge run-up in silver, with the Reddit people sitting on the sidelines. Silver goes too high, and the Federal Reserve starts to get concerned about a competing currency. Then the establishment will use all of it's power to bring silver back down. Will they resort to shorting and naked shorting silver? Then they will be ripe for the Reddit investors to squeeze them.
At $22/oz, silver was fairly priced. It hasn't gone too far from there yet (at least on paper). Where will it go? In the short term, nobody knows.
Get out your popcorn...
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Actually 30 dollar silver seems about right for your inflated , worthless , unbacked , print to infinity FRN's . At that price if there was a supply you could get three ounces for 100.
Do something Danke
I have been putting away a little since 1964 . I sold enough on the run up under Obama around 27 - 29 that all I had then was free . I've been buying silv 26 and under and gold 1300 and under since they went back down and an occasional small gold coin anywhere under 1900 . 2K gold seems like a bargain as a hedge against a 30K Dow. Where I made money though was buying nice dollars , AU and Unc. Peace Dollars going at 32 now could have been bought at 16 a year ago . Morgan dollars bringing 42 now could have been bought under 36 6 weeks ago .
Do something Danke
Metals have a lot of upside within the world and american marxist economic polices
Do something Danke
Do something Danke
"The rifle itself has no moral stature, since it has no will of its own. Naturally, it may be used by evil men for evil purposes, but there are more good men than evil, and while the latter cannot be persuaded to the path of righteousness by propaganda, they can certainly be corrected by good men with rifles." —Jeff Cooper
Out of suffering have emerged the strongest souls; the most massive characters are seared with scars.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
I should add that these older buyers are more experienced and wary. They have “paper hands”. They are much better at taking a profit when it is there.
We’ll see where this goes, but the demand and premium for physical silver should translate to an increase from today’s price, not that it ever does what it should.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
It seems like this Gamestop episode has prompted money to come in from the sidelines all across the market. That would be in addition to the massive stock buybacks many companies are doing right now.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
This is gaining momentum. Here is a link to the community. https://www.reddit.com/r/Wallstreetsilver/
Silver has hit around 27 3/4 , 27 1/2 past couple days . Every time it gets close to 28 it gets beat back . I think 28 - 29 are key for it to get to 30
Do something Danke
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
On silver Eagles it has reached total disconnect already . Dealer wholesale prices on silver eagles are reaching 7 1/2 to 8 over putting the retail at 9 or more . One of the larger East Coast Wholesalers is buying the old Proof Silver Eagles at 61 which means they are selling at 67 or 68 . Original purchase price from the mint was around 55 with shipping , now 73 and shipping. Same place is buying 1 ounce gold proof eagles 335 over spot going up daily and sales to dealers is as much as 7 1/2 percent over spot plus 335 and you have to buy 500 to get that deal.
Do something Danke
In the Soviet Union, prices at the grocery store were very cheap. But there was no product on the shelves.
Imagine if there was a government mandate that silver can only be sold at the current spot price, with a reasonable retail mark-up not to exceed $2/oz. Who would be selling? Empty shelves at the coin shops?
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
So the real price of a one ounce proof gold eagle to a dealer at 1820.90 spot gold is about 2317.60 . Not sure what the mint is selling Buffalos for but probably close to 2600
Do something Danke
Gold seems incredibly cheap right now to me . Hard to believe it isnt 2K
Do something Danke
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
I mean, it's a solid theory. The premiums are covering for the spot. So an inflation in premiums mark the true value. It's actually probably worse since the premiums only affect the exchange of silver and not the supposed "value", there's an artificial incentive to reduce the trade. Spot prices could be MUCH higher than just the difference between historical and current premiums.
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I’m sorry but not a buyer at these premiums. Price of silver has to rise 15-17% just to break even. And that’s factoring in the additional .50-$2 buyback for certain rounds, ASE ect.
I did made a trade with a dealer a few weeks back... 3oz palladium + $650 for 2oz gold and 3oz platinum.
Still waiting on delivery which pisses me off. And will probably will be a least another week...
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I just keep buying the same things I always have . Coins with value higher than the metal value. Never really been much of a bullion guy . I might buy an occasional Proof Eagle but I like Morgan dollars , 2 1/2 Gold Indians and 1800's Gold dollars. You know , classy stuff like me .
Do something Danke
The way things are going since Christmas , soon there wont be any silver to buy .
Do something Danke
Whoa, hold on a sec. That's not even close to accurate, if put into context of debt money printing since 1913. Silver's unsupressed dollar value is around $4800 according to usdebtclock.org. No doubt there is some leeway there because of cycles of destruction of FRN dollars (stock market crashes, for example, wiping out imaginary dollar printing from accounting books) but $22 is fairly priced? Shirley, you jest. Perhaps after a major currency reset will that figure line up with dollar reality but it currently does not. When $22 is a fair and free market value for physical silver, we'll be in the midst of the worst depression ever experienced. Why? Because currency will be so relatively scarce (4800 per oz currently in circulation >>> down to 22 ) that commerce as we know it will have basically ceased.
(sidenote: It's clear now that wsb/retail is being set up as an excuse/scapegoat/reason for economic changes. I had it out a bit with @wizardwatson in the GME thread about whether it was planned or has emerged as an easy excuse but, regardless, it is being set up that way now.)
Last edited by devil21; 02-13-2021 at 02:19 AM.
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