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!!!
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.