The market has been crazy the past few days. If you are a follower of GME, it seems like the MOASS is nigh. Sadly, I've felt this way about 17 times in the past, and the hedgies have weaseled their way out every single time. It appears to me that the DTCC is doing some controlled demo of certain hedge funds, like Melvin Capital, and then throwing the funds from the liquidation back into the market to keep things afloat a little while longer. I'm afraid that they'll come up with some completely illegal but hidden solution to negate the MOASS. Hopefully I'm wrong.
Anyways, here's my thought: Does anyone have a line to James O'Keefe at Project Veritas? It'd be amazing to have him run an expose on the whole GME situation. If anyone can shine a bright light on the hedgies' shenanigans, it's PV.
Then that kind of makes it worthless. You can assign an arbitrary amount in US dollars, or say you'll trade the silver for some product, service or labor. But then, what value does it have to the person receiving it?
For the value in itself, still, is there some central authority (hurts to say that) that decides on the value of gold and silver? Is its worth determined by what it can be used for, jewelry, electronics and such? Because they look pretty when buffed and shined?
As for limited quantity, I've never understood that. How does more of it mean it's somehow worth less? As the number of people in the world increases, we will necessarily need more currency. I don't subscribe to the poor get poorer bullshit. The "rich" don't necessarily horde hard assets; that's all in "stuff." I'm sure lots of them have millions in gold and silver, but not everything.