posted ago by HELLOGITMO ago by HELLOGITMO +58 / -0
With banks failing all over, why are silver coins still hovering under $22? All day I hear people saying BUY but silver rounds still sell for $25.
ALSO, any thoughts on GME (GameStop) being in the mid teens? Time to buy the dip?
Paper contracts, naked shorts
What does that mean?
They are selling paper silver without backing via ETFs. Imagine I have 1oz of silver and hand out 5 IOUs to people saying they own that bar. If nobody comes to collect the scam is good. The price is based on a supply of 5 paper bars. I can get it lower if I issue more paper bars. In reality silver is worth way more than the current spot price.
Thank you for the explanation!
On last fridays news, the amount of paper contracts that were traded in the day exceeded the entire mined supply of silver for the year. I think the ratio currently is approx ~130:1 paper contracts: to actual silver stored in the vaults. They can keep the real silver price down for a long time since banks own most of those contracts and can keep the scheme going. Now if we buy all the physical in the market and drive prices up, they won't be happy. No more cheap cell phones and electronics to give kids to brainwash them.
Paper contract silver stock companies like SLV and also jp morgan. They own half of all physical silver in the world and had two former employees arrested for manipulating the price of silver: https://www.justice.gov/opa/pr/former-jp-morgan-traders-convicted-fraud-attempted-price-manipulation-and-spoofing-multi-year
I actually bought a 100oz of silver yesterday. Anybody who buys silver and doesn't take that silver home is a f-ing idiot.
Been thinking about buying it, but (a) how do you know it's the real deal and not zinc or something, and (b) how do you keep it from tarnishing when you get it home?
Buy from a trusted source sdbullion.com or apmex.com. I've bought from both and took it to a jeweler friend. He looked at it and tested. It was the real deal. I've been buying from both for many years. I think tarnishing is cool. I like the stoichness it brings to coins and other pieces. Cleaning? I'll leave that to a jeweler.
Buy junk silver. It is easier to spend or trade someday when needed. The dates on the coins validate their genuineness. Any coin dated prior to 1965 or earlier contains 90% real silver.
Local gold stores sell junk silver.
Chalk. Put a piece of chalk in the container. It's like wild rice in a salt shaker.
Ah! Thanks for the tip!
I buy local from a female owned company 15 miles away. They make an appointment and you meet privately.
Is the silver better when a female sells it to you?
If it's better than the deal I get now I'll buy from a reptilian if it's legit
Well, as a female business owner myself.....yes. It’s shinier.
OP re 1 oz Silver Coins:
(REAL DEAL) My local coin store has been in business since 1976 so probably no funny business. You can get "rounds" which are basic silver coins with a decorative stamp on them. Alternatively, you can buy American Eagles or Canadian Maple Leafs which I believe are somewhat govt recognized, and -perhaps- slightly more negotiable during SHTF and cost abo0ut $5 more. All are same size, weight and silver %. One commenter said just buy rounds - most silver for the dollar. I think that makes sense after some thought.
There are testing devices you can buy on Amazon: A coin tweezer type holder with rubber tips. You "ping" the coin near your smart phone with app installed. It listens to the frequency of the ping and fairly accurately tells you if it is 99.9 silver or a fake. I might buy one.
(TARNISHING) Last purchase was a "tube" of new Canadian Maple Leafs which is twenty newly minted coins in a protective plastic tube. I keep mine in the fridge and there is no tarnishing even though I have handled them several times with clean hands. Tarnish is not really a concern, and you can always polish them :-) Mine appear new two years later.
But I can save a few bucks by buying a piece of paper that says I own 100oz of silver. When the banks crash I can take it in and they’ll definitely give me my silver and all my deposits, right? I mean, my well being and financial prosperity must be their top priority.
Nice! Hope I can do that soon.
...wonderful time to pick up some junk silver...
Please elaborate! Estate sale tea service or something else?
..."junk silver" refers to non numismatic quality coins i.e. silver nickles dimes, quarters etc...
....they are legal tender and will have value even if the dollar collapses...
...junk silver is much easier to use in business transactions than bullion or other forms of precious metals...
...search "junk silver"...
...you can purchase what you can afford, even $20.00 if you wish..
...a good plan is to buy a wee bit weekly and sit on it...
Thank you, doggo! Scritches and scooby snacks 🙏🙏🙏
...big doggy grin.....
Junk isn’t a great term for it, but as you mentioned it refers to pre-1965 coins made of silver. Just for everyone’s reference here are popular terms and their content.
Bullion: 99.9% silver
Sterling: 92.5% silver
“Junk”: 90.0% silver
Just call it constitutional silver
When the big lie finally dies then and only then will silver and go explode. I expect Trump to get voted in and they the scum will crash the market and then when the United States is a smoking ember, gold and silver will be at it's unmanipulated price for the first time in 100 years. I consider gold and silver like guns and bullets. You're only gonna need them when the shit hits the fan.
They have to keep it suppressed because it's more industrially useful than gold but might actually be rarer.
Because there is two kinds of silver, one being physical , the other on paper. Paper is oversold and manipulated on a regular basis. Paper silver can be sold up to 100 times. This means that the paper dealer can sell the same paper ounce to you and 99 others. Keep this in mind it is important. Soon people who have purchased paper silver will try to claim their ounce, guess what will happen! Only own physical silver in your possession. Then you will be secured. Here's what happens, the bankers dump tons of paper silver on the market and it drives the price down. They manipulate the market.
When Toto pulls the curtain aside to reveal the "wizard", they lose hold of the precious metals market and their paper IOU debt instruments lose all value.
As such, they have to "tamp down" the PMs at all costs.
There is a reason why in the original Oz story, Dorothy wore silver shoes to protect her from the yellow brick (gold) road.
MGM changed that to 'ruby' slippers. What was that again about red shoes? NVM.
People always reference Alice references but quite several Oz and Dorothy references as well.
Well, the red shoe guys do have a club they will answer to someday.
That's a Double-Dog-Dare-Dig you dun just did. Well done!
Its low so I can buy more...
As GM says daily, physical silver is the most under valued commodity in the world! It scares the powers that be, more than anything else in the world. When the banking system implodes and silver is no longer manipulated, it is going to create new deplorable millionaires all over the world! The cabal’s worst nightmare! The least vaccinated people in the world and soon to be, the new wealth class! It keeps them up at night!
If the price of Silver has been manipulated for as long as it has, they’re not going to stop now. I’d watch the value of the USD more than the value of Silver, because the two are not really connected.
USD is constantly flirting with collapse. At some point it has to. That or TPTB will have to drop all pretenses to rush people into the digital control system because the masses can only have so much confidence in the way things are for so long.... (*Spelling)
How much more can they play the slow game and keep everyone under the spell that everything is "fine" when every attempt to save the dollar produces even more obvious signs of risk, at an accelerating pace?
It's all about trust in the "system"
If they are long, they would stop to make $ on the rise
Buy it now while you can. And I consider BBBY a much better deal now than GME and I have both.
I think it's my fault. I have that effect on everything I invest in or bet on.
Because you haven't bought enough.
Silver or GME?
Silver is a safer bet. I own GME and won’t be surprised if I lose my whole “investment”, but tbh it’s more of a bet. Also GME has to be direct registered to your name, otherwise your brokerage can, and will, sell it on your behalf (their right -read the fine print) when they get pressured to. It’s a process to have all of that done, so know what you’re getting into if you do it.
There is a manipulation aspect to it, and an economic aspect. As a monetary metal, silver is currently manipulated downward by investment banks. As an industrial metal, silver is currently suffering from declining prices as a result of reduced demand. Both of these factors together make silver relatively cheap today. Now is actually a good time to accumulate and hold. In a few years, when both of these factors have changed, it should result in a good profit. But if you are thinking it is a short term play, you are probably going to be disappointed.
Ever hear of paper derivatives ?
Also remember that the price of metals could be manipulated UP as well. TPTB want their assets to remain valuable and appreciate. i.e. diamonds. How in the world can anyone know how much gold has been mined since the beginning of time?
1: Systemic Corruption 2: Yes (not financial advice) but only what you are prepared to loose…refer to answer 1.