Ragnarok
On and On, South of Heaven
I wish folks would take the time to read the backstory before making decisions.
How do you act properly without bothering with the intel briefing?
ECON Redditors might be targeting SLV and related precious metal shares
- Thread starter Donghe Surfer
- Start date
I wish folks would take the time to read the backstory before making decisions.
How do you act properly without bothering with the intel briefing?
20Gauge
TB Fanatic
What? We have to work at it and actually read?
No way man!!!
I'm not here for that!!
I'm here to make money!!!
I don't think you can take the shorts out. The metal exchanges are protected by the FED. They will go to the FED to pay the longs off in FRN's when there is no silver to close a trade. Buy the physical. All that can be done is drive the price of physical up by demand. Buy and hold . That is taking a long position . The opposite of short. Eventually the paper holders will want physical. That is when the rocket will take off. As long they are comfortable holding paper silver they will. Saw the price at AMPEX was more than $33 FRNs today. That is close to the true price of a ounce of silver today. AMPEX is not the cheapest but you will get you product. Just kills me waiting 2 weeks for the delivery to arrive
Shooter
Veteran Member
$27.11 is the spot price.
If you go on Amazon or Ebay it is selling for almost double that. Around $38.00-$40.00 an ounce.
Amazon.com : silver bullion coins
www.amazon.com
silver in Bullion for sale | eBay
www.ebay.com
DO NOT sell for spot... You will be giving it away!
I been buyin silver for about 55 years, and I have NEVER ordered a single piece, I buy every single piece at local coin shops, always been 2 dollars over spot, I will never order it, you leave a paper trail of what you bought, records that can be used by govnt to grab metals. they didit before, and those in charge are worse now,
Like I said, never more that $2 over spot, have been times when he said he had none to sell, mostly when it was to cheap, been going to same place 30 years, he still dont know my name,
Donghe Surfer
Veteran Member
WallStreetBets, Telegram, Stockwits, and gab.com chat forums (following about 6-7 of them for fun while watching TV) this weekend all have 1 thing in common for investment (aside from about 4-5 stocks they all want to buy on Monday), and that common thing to buy next week is SLV.
Moreover, many of them showing pics of physical silver they hold or have just bought.
Anecdotes also on Twitter of 30-yr olds going to coin shops asking about buying silver.
Monday definitely gonna be an interesting trading day.
Moreover, many of them showing pics of physical silver they hold or have just bought.
Anecdotes also on Twitter of 30-yr olds going to coin shops asking about buying silver.
Monday definitely gonna be an interesting trading day.
packyderms_wife
Neither here nor there.
There’s no might about it from what I’m seeing on faceborg, they’re definitely going after gold and silver.
bcingu
Senior Member
APMEX, & JM Bullion have stopped all sales of silver around midnight. The other on-line exchanges are quickly running out of stock. JM Bullion had 99,000 silver eagles Friday & are now sold out.
The overseas metal markets in London open at 18:00 hrs / 6:00pm eastern. With the sales volume Friday & Saturday it is a good guess the brokers halted sales to await the market open in London to discover the true spot price.
If you want to but Sunday morning & afternoon should be at the $27.09 spot price. After London opens I imagine the spot price will move quickly upward.
The overseas metal markets in London open at 18:00 hrs / 6:00pm eastern. With the sales volume Friday & Saturday it is a good guess the brokers halted sales to await the market open in London to discover the true spot price.
If you want to but Sunday morning & afternoon should be at the $27.09 spot price. After London opens I imagine the spot price will move quickly upward.
Doomer Doug
TB Fanatic
The actual silver and gold markets, in terms of the number of ozs available for physical ownership is not very big. And it doesn't take much of a "run" to drain retail shops. What happened last spring was you had a serious GAP between what the "spot price" for say silver was, versus what you had to pay in order to, assuming you could actually buy any. For example, the spot price was $18 but you had a dealer premium that was as much as the market could stand. 10 to 50 percent in some cases.
If this silver short is functional on Monday, price may not be an issue since PEOPLE WILL NOT BE ABLE TO BUY PHYSICAL SILVER. IT ISN'T AVAILABLE FOR SALE AT ANY PRICE, AND ANY AMOUNT when you go to the retail coin stores, or online purchases. Yes, several times last spring when I went in to buy silver ounces I DIDN'T BUY A SINGLE ONE SINCE THEY DIDN'T HAVE A SINGLE ONE. What will happen if the price goes up enough is a lot of silver and gold ounces will start to seep out of the people who have a few dozen ounces here, or somebody who bought them years ago.
However, if the big boys need to come up with 99,000 silver American Eagles by 5pm Monday night, well I can easily see a situation where nobody can get American silver eagles at any price, and at any amount.
We shall clearly see, but my view is the collapse point won't involve nearly as many silver ounces as some people think.
If this silver short is functional on Monday, price may not be an issue since PEOPLE WILL NOT BE ABLE TO BUY PHYSICAL SILVER. IT ISN'T AVAILABLE FOR SALE AT ANY PRICE, AND ANY AMOUNT when you go to the retail coin stores, or online purchases. Yes, several times last spring when I went in to buy silver ounces I DIDN'T BUY A SINGLE ONE SINCE THEY DIDN'T HAVE A SINGLE ONE. What will happen if the price goes up enough is a lot of silver and gold ounces will start to seep out of the people who have a few dozen ounces here, or somebody who bought them years ago.
However, if the big boys need to come up with 99,000 silver American Eagles by 5pm Monday night, well I can easily see a situation where nobody can get American silver eagles at any price, and at any amount.
We shall clearly see, but my view is the collapse point won't involve nearly as many silver ounces as some people think.
ellsworth848
Contributing Member
Global markets reopen 6 PM EST today (Sunday Jan 31, 2021)
20Gauge
TB Fanatic
I have no idea. I buy and hold forever. I do not plan on selling ever. It is my (meager) back up in the survival plan.
20Gauge
TB Fanatic
You are correct in my opinion. I have been hearing that for decades. Damn I am getting old....
I have already seen the local shops go dry on silver more than once this pass fall.
EMICT
Veteran Member
Physical silver will probably be as hard to get as ammunition. It won't mean they aren't mining, refining, and producing bars and rounds... they just won't be able to keep up with demand (at least until this phase passes... if it does).
I highly suggest you get a testing kit for precious metals off of Amazon while they are still available. Counterfeit metals will burst onto the market here shortly.
I highly suggest you get a testing kit for precious metals off of Amazon while they are still available. Counterfeit metals will burst onto the market here shortly.
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mechanic 217
I was told there would be cookies!
I prefer Kitco.com
Doc1
Has No Life - Lives on TB
You said in part, "to discover the true spot price." I laugh when I hear people use the term "true spot price," as if that means anything.
The spot price of silver (and gold) is set by the same criminal bank cabal responsible for the metals manipulation. That anyone would think there's anything "true" about the "spot" price is absurd. As it stands now, "official" and "spot" metals prices are set by the paper trading market and not the actual physical metals market. This disconnect is obvious in eBay prices this morning, where the spot price is $27 and change, eBay prices (per oz) are currently, roughly, $35 to $37/oz.
We may be on the cusp of a once-in-a-lifetime opportunity in metals. I implore all of you to be ready.
Best
Doc
Hfcomms
EN66iq
Human nature is funny. In almost anything one wants to buy low and sell high. People don't get interested much in bitcon and the crypto currencies until the prices start going up, they don't pay much attention to certain stocks until the prices go way up and if gold and silver finally start to catch a bid people are going to try to get in tooth and nail because the prices are going up.
With a lot of these things when the prices really spike the insiders sell to get out and then leave the plebes to hold the bag on the way down.
Wash, rinse and repeat.
We are going to see that with the crypto currencies coming up again pretty soon.
At least with gold and silver in your hands you are holding a real asset with no counterparty risk that is currently valued well below it's fundamental value.
With silver especially as even paper gold took out it's old 2011 high of around $1900 but silver is still quoted for just over half it's old $50 high. So right now silver is where people need to be but they need to be in physical silver and hold most of it as a core asset.
I wouldn't part with even an ounce of silver for less than $300 right now and that was if I needed the fiat to make an immediate purchase.
If a piece of computer code that you can't hold in your hand or even see can tickle $40,000 dollars you can imagine what real gold and silver will do during a reset where everything paper is burning off.
Buy and hold........
20Gauge
TB Fanatic
The real spot price is the price people are willing to pay for actual silver. Last I checked it was ranged at $40 last week.
Next week?
Donghe Surfer
Veteran Member
Donghe Surfer
Veteran Member
FTX
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That link above has iSilver Shares Trust March futures around $30 now.
Look at that big candle that someone tried to smash Px down to $26, but they zoomed back up to $30 very quickly.