Posted on 01/30/2021 10:05:16 PM PST by Technocrat
APMEX prices started rising by the minute two hours ago and they are now out of stock on all significant silver coins. Available rounds if you can find them are now priced at double to triple the spot price. A coordinated attack against JP Morgan and other silver market manipulators was proposed on Reddit on Friday. The link above goes to junk silver.
The action now appears to be spreading to Gold somewhat
Nope. I bought several monster box’s (500 coins per box) at a little over $7 per ounce in mid 90’s.
THAT, was “in early” ! I’m feelin’ pretty good about it!
Snoot :o)
Also don’t know what the regulations are. I know in the stock market, the regulations about trading, settlement dates etc supposedly require shorts to locate and borrow before they short; but the broker dealers have an exemption and are allowed to ‘naked short’ for a period of up to 10 days before they have to settle the trade. And they can just as easily settle it, and then re-open it at virtually the same price so they can hold a naked short on the books, theoretically, indefinitely. Nobody is tracking the certificates by serial number, nobody is checking to make sure the same shares aren’t being borrowed twice, nobody is checking that someone isn’t shorting a trade generated by an already existing short (short ‘shares’ are not really shares at all, but just a promissory note to deliver a real share some time in the future so they are trading promissory notes for promissory notes for real shares as if they were real shares. It’s ridiculous and against the regulations but the regulators either don’t care, don’t understand, are hoodwinked, or actively look the other way). This all allows for significant depreciation in value by artificially increasing the supply of shares.
I got a feeling that in the commodities game, there is even less attention being paid to any of it. And again, I don’t know if you can actually demand physical delivery of a commodities option contract.
You did much better than I. I wish I had the foresight in my teens (90s) to buy bullion.
TY. The historical gold price-silver price ratio I looked up looks like the lowest was 40 in recent years. Right now it’s about 70 to 75. Following this correlation might see silver double or more depending on the short interest and the ability of the Reddit wolves to replicate the attack squeeze success they had on GameStop and others.
Are you on Reddit?
If someone who doesn’t know much about this is going to get into this and buy some physical, my strongest opinion is don’t get suckered into buying those commemorative coins. They sell at HUGH (like 200%-400%) premium over the value of the silver. The people who are going to try to put a squeeze on, if they do, will be looking for bullion - rounds, bars, bricks, kilos, 10 kilo bars etc; and buying up options contracts in the commodities market. There is no value in paying a huge premium on those cutesy coins with kangaroos or the queen of England on them that sell for $80 an ounce when the spot price is $27/oz as of last close.
BTW, with silver, it’s 14.58 oz per pound. Not 16 oz per pound. It’s a “troy oz” which I have no idea why or how that got started except maybe the ancient Trojans were shaving 10% of the metal off their coins and passing them off back in ye olden thymes. :-)
some folks think the troy ounce is named after troyes, france.
I am not on reddit, though I do subscribe to the WSB forum I don’t read it. I have a good friend who has been with that group for years. He has been sending me funny screenshots from their forum from time to time - before what happened last week.
Yes, people have been talking about the historical ratio between gold/silver being way off kilter for many years now. Who knows, maybe it is time for them to come back into closer correlation. The first thing that pops into my head is just industrial demand may be higher for gold than for silver, in the electronic age. I don’t know to a certainty just ‘speculating’ on why the prices may have diverged.
My friend just texted me as I am posting this. He says the working thesis is that the value of the dollar is held up by the shorting of gold, and gold is kept down by the shorting of silver. Make of that what you will - he literally just texted me. His ears must’ve been burning. If what he said is true, then a squeeze on silver would come at the social price of devaluation of the dollar. Which is good or bad depending on what you do for a living. Good for US producers and exporters; but since a lot of what is exported depends on source materials that are imported, maybe not good.
Possibly. Maybe I’ll look it up. I don’t know when the current weights and measures system was developed but I would guess probably more than 1500 years after the fall of Rome. So I was just being cute saying the ancient Trojans were skimming metal off their coins. But maybe the middle ages French were? :-)
I’ll trade the silver for the “age” difference ! Should be around 25 years! (I’m keepin’ the good numismatic stuff tho)!!
....... Every time I hear the price of Bitcoin now I think of my son who won 15 Bitcoin in a bet while he was deployed in the Sandbox a few years ago ..... At the time it wasn't worth nearly as much and 15 guys in his regiment put up a bitcoin each .... He didn't expect them to make good on the bet but when they got stateside they paid up ..... He's a very happy camper now .... LOL
I have physical gold. Never paid over 475 an oz.
Krugers and Liberty. BU grade.
I’m sure I can sell it.
.
Bullets will be far more valuable that gold/ilver
Criminals just steal those metals from you ... unless YOU are armed.
.
I was referring to the specialty mint coins and commemorative coins that sell at ridiculous premiums because people like the depiction. I was just trying to warn people who might think of dabbling - those specialty coins will cost 2x-4x their current intrinsic value. Like this:
They are asking $149 for this coin, but 1 oz of silver is only worth $27. But if you like Deer...
If you want to pay 15% over the actual value of the metal contained in the coin, rock on.
It’s good he held on - it has had a wild ride the last few years. I think 3 or 4 years ago it almost clipped $20,000 then 2 years ago crashed to under $4000... last I checked it was $40,000 but it may have pulled back a bit. I’d suggest taking some off the table when it goes ballistic like this. I’m sure you and he know, you can buy/sell/trade/purchase items using tiny fractions of a bitcoin. eg .01 BTC would be worth $320 and the markets that deal with them are well accustomed to working with tiny fractions of a BTC since one coin is just too much spending power.
I myself have a tiny fraction of BTC, and a couple more than whole coins of ETH which I bought fairly cheap (relative to today) for a project I was working on. I haven’t checked the wallets to see how much I really have in value in a long time - maybe worth a look now.
OK.
I have the real deal.
I have not made a purchase since 2006 or so but all from Austin Gold.
The TV crap is just that.
TY again.
> “He says the working thesis is that the value of the dollar is held up by the shorting of gold, and gold is kept down by the shorting of silver.”
It is a fact that the dollar crashes as the price of gold rises and that Wall St. Hedge Funds especially those in the JP Morgan sphere will short gold to keep the dollar within a target and that these targets are related to the oil and arms trade.
From there it gets geopolitical and complicated very fast.
What Trump was aiming to do was to replace the Fed dollar with a US Dollar indexed to gold or some basket of finite precious commodities that would be more stable. Because the US had become a big producer of oil and net exporter with the most reserves in the world, the US Dollar could be gold indexed and net oil exports could demand gold or foreign gold-backed currency in trade. This would cause a shift in powers to the US in terms of trade and stop the pile up of treasury debt in the short term, reversing it in the longer term.
The information your friend has about buying silver to cause a short squeeze leading to a short squeeze on gold is valuable to know.
But the aftereffects on the Fed dollar could cause bombs to go off in commodities shaking the US and world economies. If Trump was in office, he would certainly use this to our advantage following through with currency reform and neutering central banker power because they are what’s behind wars, instability and middle class decline.
Although many think Trump is gone for good, countless eyes are on Arizona right now. There’s a war going on there, a political war and its effect can change the course of history because if Arizona breaks through the lies and coverups, 16 other states are ready to follow suit. If you are a God-fearing person, pray for the needed Arizona breakthrough.
TY but where would you buy the actual coin for its say KITCO value?
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