Posted on 02/01/2021 2:54:04 PM PST by RomanSoldier19
JM Bullion You Tube CNBC interview /b>
Also Reuterus
Retail investors turn attention to silver as GameStop shares retreat,P>
A rally in the price of silver lifted the metal to an eight-year high on Monday but those gains faded as some investors questioned the ability of social media-driven traders to move prices in a bigger, more liquid market.
The retail traders’ darling, GameStop Corp, sold off, giving up all of Friday’s strong rally, but other shares caught up in the Reddit rally, including BlackBerry Ltd and AMC Entertainment Holdings Inc, extended the advance that has brought pain to short-sellers.
While a lot of people came in with great enthusiasm that they would see moves in silver reminiscent of what happened with GameStop, “they now realize there is not as much buying pressure pushing it up like some had thought,” said Michael Matousek, head trader at U.S. Global Investors.
https://www.reuters.com/article/uk-retail-trading-silver/silver-becomes-the-new-gamestop-as-metal-soars-to-eight-year-high-idUSKBN2A00WB
(Excerpt) Read more at youtube.com ...
Then the price “takes off” even more.
Hunt wasmgreedy and started buying leveraged paper contracts.
Had he stuck with physical only he would have kept billions. Instead the Commodity Exchange changed the rules on him and he was forced to sell physical to pay for paper contract margin calls. More he sold the lower silver went and the more he had to cover until it was gone.
And .com stocks.
Wait - what?
Is that what happens if we buy silver!?!!!
That’s what I see. They are getting a dose of reality that the media does nothing but lie.
Maybe, the volume was really low. It’s going to be a long week for them.
—and the old commie, Armand Hammer was selling them future silver from a mine in Nevada which was producing it probably as cheap as any on the North American continent—
Whenever I go to a store that has a CoinStar machine, I always check the return slot. Many times I find silver coins in the slot.
“You do know gme is now around $180 a share after hours. I’d say they were pretty happy.”
Folks that saw $400/share aren’t too happy. Ones that bought at $300 or so really not happy....or they are just deluded.
I for one don’t understand. People keep touting crypto and PMs for when things fall apart.
So lets go down this path...
If things fall apart, no or limited power = no use for cryptocurrencies. Why hedge them for SHTF? I have no interest in buying crypto even for gambling for a buck these days.
If things fall apart and the dollar is worthless, will PMs actually have any tangible value until things settle and a new system emerges? People will be trading for food and basic necessities. The value of silver/gold will be wildly unknown for awhile I’d wager. Would you trade 10lbs of food for 100 ounces of gold if you have no assurance that anyone would accept the gold for food/necessities purchases later? Would a new system even place any value on PMs?
I’ll stick to lead.
“... I wouldn’t own Tesla on a bet...”
On that we agree. The stock price made no sense when it was a fraction of what it is today.
same here. It would be very difficult. I have a few preset sell points that I've thought about for a while. If it ever hit $100, I'd empty the bank except for a few of my very favorite ones.
And you didn't replace it at $15?
Meh, buy a few silver Eagles and dip your toe into the metals market. Like say four or five ounces. Worst case scenario is you’ll have some nice coins to give to your kids.
I’m not a big fan of PMs but I think it’s prudent to recognize that they may be necessary in deep impact, infinity war, black swan, Fauci, zombie, 2012 type scenarios. But, as a hedge they suck.
Hard to go wrong with cash...though not impossible.
I sold my silver dimes for 30X face value. I don’t know if the market had peaked but I was happy at that price.
Such drama.
Are they out of 32 pound bars?
They will make more coins from the bars.
I have owned Gold and silver bullion and coins. I found it to be not terribly liquid. The brokers always have an excuse. I was able to sell it though and I made money but I would have made more money if I had bought AMZN. I did buy AMZN in fact and did well. I sold it when they deplatforfmed Parler as I was in a wash sale and I just wanted to walk away for a while. Of course I should have held it but I was in a wash sale situation, risk was higher, and the stock is a bit overvalued. So I’m in cash again which makes me feel both good and sad and a little nervous when I see a run on PMs. The run on silver seems illogical though. Silver is kind of useless and should be tied to industrial output growth which is far from the current case. When it comes down to it though, I just flat out side with paper fiat currency-the very backbone of western capitalism and I don’t know that I’d like to see anything wreck western capitalism.
This isn’t Wall St Best/ Reddit. They are saying DON’T buy silver.
I am stunned at the reputable reporters are not at least checking Reddit.
This is Citadel saying buy SLV to generate cash. So they can close out GmE shorts. It’s a misdirection play for idiots. Look at the price of silver—it’s dropped $.62 in after hours.
It only shows you how messed up this entire world has become.
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