**** I AM NOT TELLING YOU HOW TO SPEND YOUR MONEY, I REPRESENT NO ONE BUT MYSELF, THESE ARE MY THOUGHTS AND IN NO WAY SHOULD BE INTERPRETED AS FINANCIAL ADVICE ****
Daily, I am watching the 1% battle each other with money, and the closer it comes to an end, the more I feel that this is somehow connected to everything.
Short story: GME (GameStop stock) has been heavily shorted (bet that the stock price would fall) for a long period of time, to the point that more than 100% of the available shares have been “lent out” and have created counterfeit stock. Normally this is illegal, but if you’re making billions, a $1 million fine is just the cost of doing business. Yadda yadda yadda.
So the 1% have been using this loophole to make billions of untaxable dollars. That’s right, when a business fails, some douche on wall street makes billions. Well they got caught with their hands in the cookie jar, and got a little greedy with all the businesses that failed during the pandemic and saw GameStop as nothing more than another brick and mortar store that would fail.
The problem is that it’s not gonna go bankrupt, and they don’t want you to know the truth.
They went and lied on national television, risking prison time for stopping the rise in January. Billionaires cried on television ? and they want you to believe they covered, but they told Congress that the price didn’t rise because they were covering their shorts.
They spent millions to buy accounts and spread fear, uncertainty, and doubt to every corner of the internet. Telling people to sell their positions now. They paid the media to do the same, preparing articles 12 hours ahead of time for a price drop the next morning.
The biggest thing in my opinion is the 10 minutes edited from the congressional GameStop hearing on CNBC website
https://youtu.be/d2DU6DXfGPM This is the edited version
https://youtu.be/imRzHXRq80I Here is the original
Something big is about to happen and I believe we need eyes on this. It’s a major happening going on coincidentally along side everything else.
They can manipulate stocks they can't manipulate real metal dug out of the ground. That's how you break these people. That is the arena hosting the "Superbowl". The metals arena. Coins, bars. If you can't hold it open a vault. Then the pslv or similar is next best play
They can, they have, and they are manipulating. Spot price of metals is whatever the majority holders say it is (JPMC / Deutsche Bank, RBC, etc.). Fortunately, it's quite stable value. Fuckery occurs because people trade paper certificates with no metal backing, paper that's oversubscribed (by 1000x, in some cases), or premium over spot for physical delivery (it's excessive right now).
Paper with no metal backing is what sets spot price; if they really allowed it to float, we'd be looking at 3k an ounce for Au; 60-65 for Ag.
But I heavily agree with metals as a value store. Crypto, not so much... too volatile and with a stroke of a pen, congress can make it worthless.
I don't think you understand how long this has been going on, nor why. They have been manipulating the metals, silver especially, since the first London bank was put in America (around 1810). This has been done to facilitate a transfer of wealth to the elite.
If they lose control of it, it will adjust to its real value. If you look at gold/silver purchasing power for the 4000ish years prior to 1800, their real purchase power adjusted value is around 10k/oz for Au, and 1k/oz for Ag in todays market (e.g. buying a house, groceries, tools, etc.).
An important note to those values is no matter how you adjust gold, up until 1800 (and more egregiously, post 1873) the gold:silver value ratio was 10:1 for all of history (with minor variance). This is probably because that is almost exactly the same as the ratio that has been mined. Now that silver is in much higher demand than gold in the technology market, it may be worth even more (relative to gold) when this all settles.
No, I got it. I was more calculating spot price versus USD, from the last time we had a gold-backed currency standard to now. Not 1810, but pre-'33 gold specie @ $20 face value.
That seems like a random snapshot to start from. Silver had already been destroyed by then and gold had already been devalued somewhat as part of the wealth transfer, despite the adjustment. That has nothing to do with any meaningful real value.
When the dust settles they will go to their real value, whatever that may be, but the silver/gold ratio will not be anywhere near the 50:1 in your calculation. Based on history and availability it will likely be 10:1. If you add in tech value it could be 8:1 or even closer.