bw
Fringe Ranger
You have too much faith in your fellow man.
CORP/BIZ Silver and Gold...The General Precious Metals Thread
- Thread starter Wyominglarry
- Start date
bracketquant
Veteran Member
What I can do with paper is use it for an extremely quick and efficient means of transactions for goods and services. Governments, here, as far as I know, do not accept gold or silver in payment for bills due.
Most likely don't understand that gold and silver, while a store of value, CANNOT be used for the billions of daily transactions in the world. If cash/electronic payments disappeared, the entire world economy would grind to a halt almost immediately.
Currently, at my WalMart on a busy day, the wait from the back of the line at the register is perhaps 15-20 minutes, using extremely efficient cash or electronic cards. If gold or silver were used, prices could not be "relatively" stable as with cash prices, and the wait in line would be many many hours.
I'd rather have food, clothing, with a roof over my head, and be content with those few needs, than the wants of hoarding metals.
West
Senior
With bullion its not hoarding. Its banking.
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bracketquant
Veteran Member
While I'm not in agreement with the high risks of some of fractional reserve currency lending, nor do I like usury, banks at least loan out "money", attempting to keep the economy smoothly running.
Metal hoarders, who only stack and do not sell back into the system, contribute a very small part to an unhealthy part of the economy. "Money" MUST circulate, or the misery of recessions and depressions happen.
Southside
Has No Timebombs, Lives on Life
Thank you.
Many people do not get that.
I save by investing in PM's When necessary, I go to the bank to purchase things.
It is amazing how cheap things are getting. But most do not see that.
LYKURGOS
No Surrender, No Defeat!
Several states, Missouri is one. Accept Gold or Silver at market price for paying taxes by state law. There are always plenty of State taxes to be paid.
West
Senior
Southside
Has No Timebombs, Lives on Life
As long as they take paper, that's what I'm givin'!
Reasonable Rascal
Has No Life - Lives on TB
Hfcomms
EN66iq
First of all are things only black and white to your way of thinking? You can have a roof over your head, food and clothing or you can ‘hoard’ (not even sure what that means) metal? Can you not have food, water, shelter and save in metal? Can you not have both?
That kind of thinking is akin to saying that one can have food, clothing and a roof over your head or you can hoard paper money. That doesn’t make any sense either way. One can prep and store their excess wealth in monetary metal that isn’t losing value every day. It’s a savings account just like a savings account in the bank except you are the bank and not a building in town someplace.
Metal is very liquid and I exercised that recently by selling some gold and buying a new truck. And it cost me half as much gold as it would of a few years ago thanks to debasement of the currency. And even though metal isn’t accepted as money much in retail now what makes you think it will always be that way?
Preppers prep, it’s what we do. We see danger coming in advance well before the herd and we take steps to mitigate that threat instead of waking up one day with a currency collapse and credit frozen…..with the banks not opening and the ATM’s not being refilled with people wandering in a panic. And to make matters worse you will be bailed in and lose your money. Think it can’t happen? It’s happened already in other countries to get the bugs worked out.
The government knows it’s coming and they’ve talked about it if you know where to look. The government knows it, the banks know it but most people are part of the herd lead to slaughter.
RT 1 min
FDIC warns of bail ins and says you don’t need to know.
Bit of a longer version not edited as much.
RT 5 min
von Koehler
Has No Life - Lives on TB
Judging from today's Elliot Wave, they think that silver and gold are in downward wave 4 for at least a couple of months.
After they establish a bottom then new all time highs will happen.
As a trader, I plan on standing aside until the dust settles.
If you are a stacker, I assume you would want to keep buying regardless of any near term losses.
They note that the record high bullish sentiment readings have dropped down to about 90 percent.
Readings will have to decline much further down before a definitive low is established.
After they establish a bottom then new all time highs will happen.
As a trader, I plan on standing aside until the dust settles.
If you are a stacker, I assume you would want to keep buying regardless of any near term losses.
They note that the record high bullish sentiment readings have dropped down to about 90 percent.
Readings will have to decline much further down before a definitive low is established.
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Southside
Has No Timebombs, Lives on Life
I agree with downward pressure on Gold. Any downward movement on Silver will be bought up because of the tightness of the physical market. Might trend down, but I do not think we will se anything near $50. Could sure easily last for months.
After the paper(Silver) dies, it's off to the races.
Sounds like an incoming buying opportunity.
Southside
Has No Timebombs, Lives on Life
If prices go down in the US but not around the rest of the world, the premiums will just go up to make up the difference.
That said, I just bought another 10 oz a couple of days ago.
I just made a 10oz deposit into the Bank of PM's
bassaholic
Veteran Member
Silver chart appears to be forming a rising wedge which would be bearish.
If this is the case and no high volume push comes in, I have some spare monopoly money waiting to pounce in the low $70's.
If this is the case and no high volume push comes in, I have some spare monopoly money waiting to pounce in the low $70's.
von Koehler
Has No Life - Lives on TB
Yes, if you can time the bottom of wave 4 correctly.
It could well be the last chance to get a good price before all hell breaks loose.
The ultimate wave 5 count shows a possible $20,000 an ounce for gold.
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von Koehler
Has No Life - Lives on TB
If you are a stacker and don't care about the price you pay in dollars, then just buy and hold.
You will have to bear through any short term downdrafts in gold prices and not panic.
Personally, I would not use any debt to finance the purchase of gold or silver. That's what transformed the Hunt brothers from billionaires to bankruptcy.
Better to own one coin free and clear than be underwater on dozens.
It might be more practical to purchase one tenth ounce coins then a full ounce.
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bracketquant
Veteran Member
The poor in India use cash, if they have it, and micro-finance-loans.
The average in India, would have to save their entire paycheck for about a year and a half, to buy one ounce of gold.
The wealthy in India trust in gold and silver, but loan in cash.
1.4 billion, but not strong, rather it's massive discrepancies in wealth distribution.
West
Senior
I've bought some 1/10 Oz eagles back in 2001 or about. Recall paying $49.99 or something like that.
There so small I may have lost them. Or the second wife stole them. Had them in a tube of 50.
West
Senior
Another interesting tid bit....India doesn't have many or any safety nets for old men. And there's over 1/2 million beggers. And they seem to survive somehow.
I met a old (iirc 75yo) guy once in the Shasta area of N. California while camping and he was from India. Kabul (sp?) was his name. We kinda hit it off and had a great conversation for several hours. I did end up giving him some cash. He was homeless but purposely lived in the N.Ca. and S.Or. National Forest in the summers. And rode a small cheap motorcycle.
He told me he was a beggar in Inda before coming to America 30 years before. Some how got a chance to come here and got a job for a couple decades, then got on safety net and simply travels north in the summer and then heads to San Francisco and south of there in the winters, following hwy 101.
He was really interesting. You know the Buddha was a beggar.
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naegling62
Veteran Member
So silver is tanking right now. Which market is open?
bassaholic
Veteran Member
Asia but technically open to everyone.
Most trading done by bots.
They saw that trend line issue and a rising wedge forming and the dump came.
There is support in this range. We will see.
Southside
Has No Timebombs, Lives on Life
In India, we know who doesn't have the money.
The Banks. With the 1.4B, their largest bank is #17 in the world in assets.
Good or bad!
bassaholic
Veteran Member
Crypto taking a hard dump.
Things will get interesting.
Will they follow each other or will the metals rise to the surface?
Things will get interesting.
Will they follow each other or will the metals rise to the surface?
bracketquant
Veteran Member
I have no idea, if good or bad.
Unless things have changed, loans are often considered a bank's assets, whether the legal claim can be recovered, or not. And, I don't know if India's banking assets are run this way.
I wouldn't want to be a giant bank, holding lots of loans, the economy sinks, and lenders then default.
bracketquant
Veteran Member
That trend line, like your's, without a starting date?
bassaholic
Veteran Member
Against popular opinion here I'm sure...
Stop giving the AI Asian social media channels traffic.
So many exploded in the past 2-3 months. I believe it's part of the pump and dump from them.
Edited to add: My trader folks saying we see $50's.
Info for those looking to buy or sell.
Stop giving the AI Asian social media channels traffic.
So many exploded in the past 2-3 months. I believe it's part of the pump and dump from them.
Edited to add: My trader folks saying we see $50's.
Info for those looking to buy or sell.
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winodog
The Bible is a flat earth book
winodog
The Bible is a flat earth book
Makoto Kern
@theiiimpact
If Paper Silver drops to $60, the arbitrage with Asia (where physical premiums are huge) becomes so profitable that massive amounts of physical metal would leave COMEX vaults, threatening the exchange's solvency. $70 is arguably the level where Paper and Physical disconnect too dangerously. Let's see what happens in the morning...
winodog
The Bible is a flat earth book
winodog
The Bible is a flat earth book
Hfcomms
EN66iq
IMO, silver at $75 is still a healthy correction, and I'm glad to see it. Patience is a silver lining. And it's still undervalued compared to the high for now price of gold.
Too many have short term memory which is a habit we have in the West. A year ago today silver was around $32 and we didn’t hit the old high of $50 until last October and at the end of December it was $71. We hit $115 about a week ago and now hand wringing because the manipulators put us back to $77. Nothing has changed, demand isn’t going down (significantly) and they aren’t finding millions of ounces more they can mine and bring to market in 2026.
Back in October I bought silver bars @ $60 which is all I’m willing to pay being on somewhat of a fixed income until I turn 65 as if you make too much they claw back some of the S.S. If they can knock it back below $60 and you can actually buy it at that price I won’t complain. Most of us get it that this is an ounces game and not a dollars game.
With the government running the printing presses to pay it’s bills precious metals and all commodities actually have only one way to go….much higher and really that is all we need to understand.
DFENZ
Senior Member
It could be worse. The daily chart is sporting a bear flag that has broken down. And as the saying goes, 'flags fly at half-staff'. That puts the formation objective at $48.
Sid Vicious
Veteran Member
At 48$ I'm backing up the truck to the loading dock. 
