ECON Gold and Silver news
- Thread starter Doc1
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Johnny Twoguns
Senior Member
EVERYBODY can afford an oz of silver per month; it's just a matter of if they want it more than everywhere else their money is going.
naegling62
Veteran Member
-
Meh... every time Ukraine funding passes, metals drop. The nearly $2 drop in silver and gold dropping over $70 is exactly the volatility some of us have been expecting for years... as a precursor to them losing control completely. Just more shaking PMs loose from weak hands to strong one's.
Summerthyme
Summerthyme
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Johnny Twoguns
Senior Member
That's why I came here today. Big shorting action. Fully expected since tptb have been trying to short it down for two months now (and the last 30 yrs +). Someone is losing a great deal of money. If the shorts lose again, it will be even more money they will lose. I think they are going to lose more money. As for the timing...........................................................
Johnny, I don't usually talk but your comment attempts to envoke a response. I do have 2 kilos of gold that I bought in 2006 at 314/oz. Now I think lead and copper are better choices. If you doubt me ask thinwater.
Johnny Twoguns
Senior Member
Then you have all. Your comment, I suppose, would be for others to forsake any silver or gold and just get bullets, which I'm assuming most here already have. And I think pms will be needed, and more valuable to most, quite a while before lead and copper becomes predominant in usage. If lead and copper ever become predominant.
West
Senior
It's brass not copper! I know what you all mean. But when it comes to metal...
It is a copper alloy that contains a certain amount of oxygen, thus also known as oxy-copper, and can sometimes be regarded as a copper alloy. But ammo is made from brass and lead/tin.
Please excuse my weirdness...
It is a copper alloy that contains a certain amount of oxygen, thus also known as oxy-copper, and can sometimes be regarded as a copper alloy. But ammo is made from brass and lead/tin.
Please excuse my weirdness...
We love your weirdness.It's brass not copper! I know what you all mean. But when it comes to metal...
It is a copper alloy that contains a certain amount of oxygen, thus also known as oxy-copper, and can sometimes be regarded as a copper alloy. But ammo is made from brass and lead/tin.
Please excuse my weirdness...
At these prices I would forgo PM'S
The prices will go down.
West
Senior
Your right. I actually looked. And your right!
Strange. Happenstance perhaps. I mean who would think that if Ukraine should be liberated back to Russia PMs would blast to the moon and the fed dollar crash to the real value of a computer digit in the cloud or electronic digit on a big screen computer. Worth its weight in air molecules? How much does a air molecular weigh?
No, copper. I was thinking about FMJ projectiles.It's brass not copper! I know what you all mean. But when it comes to metal...
It is a copper alloy that contains a certain amount of oxygen, thus also known as oxy-copper, and can sometimes be regarded as a copper alloy. But ammo is made from brass and lead/tin.
Please excuse my weirdness...
West
Senior
A full metal jacket (FMJ) bullet is a small-arms projectile consisting of a soft core (often lead and tin) encased in an outer shell ("jacket") of harder metal, such as gilding metal, cupronickel, or, less commonly, a steel alloy. A bullet jacket usually allows higher muzzle velocities than bare lead without depositing significant amounts of metal in the bore. It also prevents damage to bores from hard steel or armor-piercing core materials.
Stolen from wiki so could be BS.
Johnny Twoguns
Senior Member
I take it you bought around 20 yrs ago or so? Still, you have yours. A lot of people don't. Nationally it is less than half of one percent. Silver is dirt cheap right now. And if you get a lb of it, 16 oz, and this is the start of the largest PM bull run in history, with a world that is burning up all it's silver and a world full of paper dollars of all types, then in your local neighborhood you might be a lord; for a short while. Point being, you have yours. Others need some before the real dollar/bank crash begins.
Southside
Has No Life - Lives on TB
The largest down days are in an up market.
I'm good with the action today.
It's "buying on the dip" time ???
As I tell my friends, I honestly do not care what the "price" is. Every week/month/whatever, I have $xx dollars to invest in precious metals. And I buy whatever amount of PMs that money will buy. I am not looking at selling anytime soon. I think the cool term now-a-days is "stacking".
West
Senior
Looking at the 6 month chart, it's only been a few months that gold started up and way over $2000 a ounce. I think if they can get it beat down past $2175 it could go even lower. But I muse it will not.
IDK, about silver, it should be over $100 a ounce years ago. It's just a punching bag that is filled with hooks and crooks to keep it suppressed. It's unbelievable that such a usefull, industrial and alike the world over commodity is so cheap, in today's FIAT induced inflationary environment.
IDK, about silver, it should be over $100 a ounce years ago. It's just a punching bag that is filled with hooks and crooks to keep it suppressed. It's unbelievable that such a usefull, industrial and alike the world over commodity is so cheap, in today's FIAT induced inflationary environment.
Hfcomms
EN66iq
If I had more money I would use every pullback to buy more. I cost average and am pretty disciplined about it. (Pay yourself first you know). Nothing has changed and things are only getting worse and with another 90 billion of bribe money going overseas inflation is just going to go in one direction. Patience has it’s own reward and hard assets in your possession is the only way to go with any spare dollars you might have.
Not with inflation being what it is. It doesn’t mean that gold holds any higher value. It means the dollar holds a lower one. That’s what people forget.
The problem is you still need dollars to pay the bills. I called up several local municipal offices and asked about paying bills with metal and they are specifically not accepting anything but digital payments … you can’t walk up and even use paper dollars to pay. Taxes especially. You can write a check but that’s just another form of digital currency.
Every bank we do business with I’ve asked about depositing metals at and they don’t even have a process by which they could do that. Some won’t even deposit foreign currency to change it to American currency. Some that will sell foreign currency won’t/can’t take it back.
When I get a chance I will call around to some local currency exchange locations and see if they will take metals for cash. Not that I intend on doing that but to see who (or even if) has a process for accepting metals in the event of a dollar crash.
West
Senior
Also talk to some small local banks. Many will still loan you fiat no questions asked while taking your gold for collateral. Not a good or even fair deal. Their no better than most pawn brokers. ETA, talk to the vice or president of said local bank. You will get no where talking to any other bank employee. It's gotta be the president or vice.
However many established local gold exchangers will give you fiat cash at or just below spot for your precious.
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CaryC
Has No Life - Lives on TB
It is not BS.A full metal jacket (FMJ) bullet is a small-arms projectile consisting of a soft core (often lead and tin) encased in an outer shell ("jacket") of harder metal, such as gilding metal, cupronickel, or, less commonly, a steel alloy. A bullet jacket usually allows higher muzzle velocities than bare lead without depositing significant amounts of metal in the bore. It also prevents damage to bores from hard steel or armor-piercing core materials.
Stolen from wiki so could be BS.
bullets traveling over 1100 FPS start to melt as it travels down the barrel. Thus fouling, and very hard to remove. Note .22 at 1300 FPS and .22's are well known for fouling.
Now imagine your .223 at around 3000 FPS. Without the jacket, after only a few shots the fouling would throw your zero off at every shot.
Johnny Twoguns
Senior Member
Rafi Farber joins Ron in the Basement for a 40 minute talk. A bit in the middle is boring as they talk one specific mining conglomerate. I find it interesting as Rafi tells Ron WHEN to 'sell, trade, exchange' silver based on historial cycles and events. There will be a blow off top, so don't get too greedy (Don't get greedy Armstrong, save some for the rest of us. No, I won't). About 70% in Rafi gives his take on what is happening in Israel right now. His voice is shakey throughout which is odd.
As an aside, someone a long time ago talked about when gold starts making $100 swings a day, and when silver starts to make $1 swings in a day. Are we at that point now?
View: https://www.youtube.com/watch?v=Ph7O6T8bgL8
As an aside, someone a long time ago talked about when gold starts making $100 swings a day, and when silver starts to make $1 swings in a day. Are we at that point now?
Greenspode
Veteran Member
His perspective on Israel and what is happening over there was even more valuable than his insights about gold/silver! Definitely worth a watch! Thanks for posting.
The bigwigs are who we do business with due to the type of deposits we make. You have no idea the hassle a cash busines goes through. We’re down to about 40% of our deposits in cash and we still hit “ceilings” on our business accounts.
So we are forced to deal with a certain level at the banks we deal with. Worse than getting a loan. And we deal with loacal, regional, and national banks. A couple of credit unions as well.
So when i have a question, it isn’t the tellers that i ask. Usually it is the trust and wealth advisor or the branch manager.
Johnny Twoguns
Senior Member
If accurate this is not good at all. Bill Holter's credit lock up might be closer than we think.
View: https://twitter.com/AMCbiggums/status/1783614789325058137?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783614789325058137%7Ctwgr%5E7cf3559bc8ec006658334e2651b2aecae8a1b0d6%7Ctwcon%5Es1_&ref_url=http%3A%2F%2F
View: https://twitter.com/AMCbiggums/status/1783614789325058137?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783614789325058137%7Ctwgr%5E7cf3559bc8ec006658334e2651b2aecae8a1b0d6%7Ctwcon%5Es1_&ref_url=http%3A%2F%2F
Hfcomms
EN66iq
Very significant warning about the clearing houses reference the The Great Taking missive authored last June. When the clearing houses fail the various securities and equities that people think they own in their brokerage and 401-K accounts they will find out they were only the Beneficial Ownership Meaning and Regulation and be left with nothing. Complete and legal thievery as they never held title to their financial instruments.
Southside
Has No Life - Lives on TB
The PTB will rue the day they bring this down on the population.
But do it, they will.
Hfcomms
EN66iq
And after the masses kill each other off those that are left will be willing to do what they are told in order to be safe and the promised three hots and a cot.
Southside
Has No Life - Lives on TB
Yea, that's not gonna work for me.
An honor guard on my way out will, though.
Doc1
Has No Life - Lives on TB
Last Thursday I introduced myself to my new bank officer at the local branch I used. She wasn't busy so I took the opportunity to give her a fun demonstration about real money. I pulled a one dollar bill out of my pocket, a real silver dollar and a one ounce gold Krugerrand from my wallet. She'd never seen a Krugerrand before.
I asked her what the teller would credit me if I sent the dollar bill across the counter. Of course she said, "One Dollar." I then asked her what credit I would receive if I deposited the Silver Dollar. Again she said, "One Dollar." I asked what credit I would receive if I deposited the Krugerrand and she said that they couldn't take it. I explained that currently, the Silver Dollar was worth around $30, which merely indicated how debased American currency had become. I also explained that the Krugerrand was a true bullion coin with no face value, but that in previous eras, banks would gladly accept gold and were able to test it on site. She was fascinated by my little demonstration, but we were not able to conclude my business that day and I'd have to return on Monday.
On Monday I placed a $20 bill on her desk, as well as a US Double Eagle ($20) gold piece. Again, I asked what credit I would receive for the twenty dollar bill and for the twenty dollar coin. Of course she said twenty dollars. She'd never seen a Double Eagle coin before, but read the "Twenty Dollars" on the coin and satisfied herself that it was real, American money. I thought her eyes would bug out of her head when I explained that the Double Eagle was worth around $2600 and that its high price was - again - the result of the ongoing debasement of US currency! She believed me, but was surprised when I explained that until 1933 bank customers could walk into the lobby and exchange a $20 bill for a gold Double Eagle or vice versa.
Other metal business I did last week was to have a tire repaired at the local tire shop and pick up a couple of 5 gallon buckets filled with wheel weights. The tire guys know me and let me have them free. Also, they are kind enough to use their dolly to load the buckets into my truck, as a five gallon bucket is way the 'ell too heavy for me to load. Years ago, the wheel weights would be 100% lead, but now I have to laboriously separate them into steel, zinc and lead. It's worth it though, to get the free lead for my bullet casting.
Gold, silver and lead...I suspect that all three will become vastly more important as we go into a problematic future.
Best
Doc
BetterLateThanNever
Veteran Member
Too bad that you did not have a pre 60's silver dime on hand for the lady that day.
It would have woken her up and then some when you explained to her that the dime was worth two (2) of the paper one dollar bills.
West
Senior
In the 1990s.i would have drank at least 4 double shots of vary good and expensive whiskey on the fact Gold closed about $5 bucks higher on a Friday.
Also would of drank at lest a 5th of cheap Canadian whiskey on the fact that silver had dropped a quarter dollar.
Of note, back then a fifth of cheap Canadian whiskey was only about $2 bucks. Today it's easily $5 Bucks plus...
Also would of drank at lest a 5th of cheap Canadian whiskey on the fact that silver had dropped a quarter dollar.
Of note, back then a fifth of cheap Canadian whiskey was only about $2 bucks. Today it's easily $5 Bucks plus...
Doc1
Has No Life - Lives on TB
Meaning absolutely no offense, I don't understand how you imagine a silver dime worth $2 would have impressed her more than my Silver Dollar worth well north of $20 or my $20 gold piece worth well more than $2000 did?
Best
Doc