Price of silver. https://www.apmex.com/silver-price
JP Morgan controlling silver and gold prices. https://www.moneymetals.com/news/2019/09/11/setting-the-record-straight-on-silver-price-manipulation-001863
I think the price drop with silver will be a short lived win for the bankers and a potential windfall for silver hoarders in the near future. Let me explain.
For months, silver stackers have been trying to push the price of silver higher by buying everything on the market. Many silver dealers have waiting periods for deliveries now. The available silver on the market is very very tight.
Paper silver contracts are maturing by April 1st and the investors will have a choice of rolling over their contracts, taking a cash payout or taking delivery of the silver. My bet is many will take delivery of the silver to put the squeeze on the big banks. Just like the squeeze put on hedge funds with GME, I think silver stackers are going to put the squeeze on precious metal price manipulators
This could be why JP Morgan and Goldman Sachs are liquidating shares in Chinese tech and media companies. They are preparing for a massive purchase of silver they will have to deliver.
It is said that the banks only hold one ounce of silver for every 250 ounces being held in paper contracts. They are driving down the price of silver now to increase their purchasing power. With the tight supply of silver we currently have and the large amount needed to fill maturing contracts could we see the price of silver skyrocket!!!???
Silver is $24.00 an ounce right now, its a great time to buy. If President Trump plans on taking us back to the gold standard in the future, the price of precious metals are going to skyrocket. Get in now while the price is right.
Stay safe my frens!!!
WWG1WGA!!!
All I know is gold and silver are way under valued. So BUY BUY BUY !!
Archego Capital in big trouble, affecting JP Morgan. "According to the sources, Goldman Sachs and Morgan Stanley were quick to offload shares on Friday, forestalling a material financial impact."
I just ordered my first 10 oz. I paid a hefty premium, but I’m buying to use as money in the future in case bad things happen, so a few bucks on the front or rear end doesn’t really bother me much.
This sounds entirely plausible to me.
HAHAHAHAHA
Do they really expect us to buy that bullshit? PM are valued based on how much it costs to mine/refine them?
Go back to propaganda school. You get an F on this paper.
I agree, seems like they are trying to cut the intrinsic value out of the picture. I only added this link to show JP Morgans involvement in the precious metal market.
I appreciate you including it. Its important to see the spin.
Definitely not. If it’s too expensive to mine/refine, then it sits in the mine.
Not only that, silver and gold are widely used on electronics due to high conductivity hence low heat emanation.
Nice musings.
I would add my own:
Euro dollar FX market: Dollar goes down in Euro's -> Silver goes down. idem for the opposite.
The price in Euro's has hardly changed, at least not in the swings we see in Dollars.
Demand for dollars is increasing against the Euro, due to bond market issues. This has nothing to do with the real economy but with financial shenanigans.
So you see anomalies: like the US admin handing out trillions of dollars in stimulus packages, and the dollar appreciates against the Euro. So, to where is that stimulus actually flowing? To those wanting in on the action.
Crypto in this case are bitcoins and a couple of others. However, this would allow a huge influx of money into crypto in the coming months, and thus upswing in price.
Consider you had a bitcoin savings account @paypal 2 years ago. You would have seen your bitcoin value increase from 6-10 thousand to 50 thousand.
It also means that facilities like Uphold, are not there yet (offering a goldmoney, silvermoney paypal-type account based on 100% reserve in physical, allowing allocated storage and delivery. However, it does proof the point. It is easy to digitalize gold and silver analogous to crypto. You could even combine the two.
For those interested: check Pi Network. It can be mined from your phone with an app (virtual mining, without a tax to your phone) for free till the whole shebang goes mainnet and becomes exchangeable. Target price around 38 - 59 dollars, though they are now calculating with a 100, to test exchanging goods and services.
Crypto may also help in turning a local currency into a success.
I think it is becoming abundantly clear, the move to crypto will happen. The question we face is: are we going to accept the bankers version, or are we going to work with a system that decouples us from their enslavement?
Yes, I know, energy, if you're not holding it, you're not owning it. I am not saying it is useless, neither am I saying it should be shunned. Both phys and crypto have their uses. ( See also plans in Texas, to become the most crypto friendly State in the Union but they do have their own gold depository). Just keep your wits about you. Especially, when times a changing.
With this said: I fully expect the premium for phys to explode.
Let me leave you with this:
http://www.diva-portal.org/smash/record.jsf?pid=diva2%3A384596&dswid=8397
This pdf discusses, Prices and the Growth of the European Knowledge Economy, 1200-2007, especially comparing Sweden to The Netherlands and UK (see figure 2)
https://seekingalpha.com/article/301365-purchasing-power-of-gold-during-cycles-of-inflation-and-deflation
This paper discusses the purchasing power of silver and gold during deflation and inflation cycles.
http://www.cgeh.nl/sites/default/files/VdSpek%2BLeeuw%2BFold_Silver_6-5-2011.pdf
This prelim paper in pdf format discusses the purchasing power of silver and market efficiency from a Babylonian perspective, and compares it to 2011.
And of course, it never hurts to consider how the inflation game has been played on the ground. In the following page several ancient coins are compared.
http://www.personal.utulsa.edu/~marc-carlson/history/coin.html
What it means is: the more open competition is out there, the better it is for the general public.
Enjoy!
Which Nations?
Every fiat currency in essence is a local currency. This allows for specific problems within a region to be alleviated. Hence the natural floating exchange rate.
In case of crypto, I see no Nation on crypto. I do see crypto in use with certain people, and despite global reach, adoption of particular coins seems regional to some extend.
So, I suspect that by choosing a crypto to acquire, regional user base is quite important, as the products and services must be enjoyed somewhere.
For certain products, like financial services, this indeed may follow a global reach approach. For brick and mortar ventures being an early adopter before the big hausse, may proof to be quite advantageous.
Because mining is a drag and often focused on certain farms. To obtain these coins, in exchange for actual goods and services may then be a good strategy.
Certain cities may be very large with millions of people, with digital access. (smartphones, thel like) Here, early adoption may bring a coin from a view cents to dimes to dollar. This in itself would support a business with all the restrictions tremendously.
I can't help but think how this would have supported certain entrepreneurs during covid. BY the rising price in the coin, it becomes cheaper to deal in such a coin to acquire goods and services.
The competition in these user circles is natural. And I would expect these coins to move towards an equilibrium in exchange levels depending on the power of it's user base.
Ok so, I looked into FEDnow.
Wow. This is really spooky. Instant payment! Dude, in Europe that has been active on the SEPA platform for years now.
I also notice you are focused on bitcoin. That can be forgiven since bitcoin is quite in the news. A couple of years ago, when it was moving towards 5, 7 10 thousand, it was likened to the Tulip Mania.
What is not considered are the fundamentals of the coin itself. It's userbase and ease of use. The simple fact Musk has gone into bitcoins with billions of his FRN, sure is a nice support for a coin.
ANother coin, expanding in South East Asia, is Pundi. It has quite a growing though small user base (700.000) a growing merchant base (10.000) and it is pushing ease of use: i.e. on ethereum platform easily exchangeable coins to be used for purchases in brick and mortar shops with a specially designed smartphone.
Personally, I kind of like that idea.
In practice, SLV, Uphold could do the same by offering Silver Crypto Coin, where your deposit in silver is the reserve for the crypto coin. Expandable, but also reigned in by its physical presence.
Where does the FRN go? To those guys:
How did they get it?
Well, in terms of most crypto coin, by mining it, or hashing it out of thin air. The only difference between a printer, or ledger entry for that matter, and mining, is the time it takes to produce a coin. (this is my cynical view)
Is it ok to swap FRN, created out of thin air, but burdening each and everyone of us with debt, AND, exporting inflation abroad, for Crypto of your choice?
for one thing, the more can be bought with it, the better for us, since the FRN is going exponentially to zero. You cannot even use it for toilet paper lest you want to risk asshole cancer.
That said, and although I am sticking my toe into crypto here and there, I still am a gold / silver bug with a love for stacking.
As Gary Cooper said in Very Cruz: We learned one and the other.
Agree with the inverse relation ship with the fx/pm cross, Not sure about the rest though.
Mints are scamming customers who paid for storage. Buy the physical and have it delivered to you. Don't use vault storage. Perth mint screwing customers saying they need to wait 10 weeks for delivery. Refusing to sell silver to anyone for a month or longer. Find some ounces, buy it, have it shipped to you. They are screwed. Massive, massive silver sitting for delivery this month and next month even more! They are screwed!
Can't they just mine more silver? Does anyone know what global silver mines produce?
Yes they can, that takes time though. People settling contracts want their silver now. Many of the sites selling silver are adding the stipulation, delivery will be after it has been mined. They are selling silver they don't have and may not get for a while. If someone pops up and says I want to buy your silver and offers a better premium over spot, they will be the ones that get supplied first.
The reddit silver group is pushing a silver raid on March 31st.
I think the ratio is around 1oz metal to 250oz of paper? I hope they squeeze them hard.
Got my 100 oz. in the safe with 500 of my little friends!
Yup, When I told people not to catch the falling knife around when all that gme stuff was going on and some people got mad srs Gold too.
There was a fake out to buy silver which people said came from WSB (never did) and now its back down. Price is normal. Don't et me wrong it's way under valued but this hypothesis hold little value.