Egyptians Turning to Silver to Hedge Against Inflation
(www.activistpost.com)
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I dont know if its the answer. I dont put much thought into "to the moon" hype. But ive bought somewhere around 1000 ounces of it over the last 3 years.
Its working good as a savings and that all i really need it to do. I dont use banks.i dont use credit. I dont even accept a paycheck. Cash or gtfo. I needed a way to put money away so i dont spend it on stupid shit i dont need thats just gonna end up in a trash can,silver and gold made perfect sense for me.
You are doing the right thing IMHO. When I was young ( in the 60's and 70's) I could have bought 100 silver dollars from the bank for 100 dollars. To buy the same coins today would be close to 3000 dollars.https://www.golddealer.com/peace-and-morgan-dollar-rolls/
I dont tell many people this but 20ish years ago i hit a million dollar lottery ticket. I pissed it all away trying to start a business,a money grubbing cunt of a fiance,family and friends. I really wish somebody wouldve educated me on metals.
Really does not sound like investment choices was you main issue.
5 dollar scratch ticket.
I pretty much fell out my truck with the door closed. Thought somebody was messing with me. I went back in the store to have it checked.waaaay too many people in there.went home and called the store. The owner called me back to have me come in to check it with nobody else in the store.
Look at Palladium now. It's down to 980ish, yesterday went to 857 from yearly high of around 2000
Russian dominated supply. Cash flows need to be maintained
Good on you, fren - doing the right thing, IMO. It hearkens back to the old saying, "cold, hard cash" because humanity has used gold and silver sound, honest money for thousands of years. It's only been since the last industrial revolution that we've been scammed by the Cabal into giving up the only form of real money for currency that is based on lies.
Gold is the money of kings.
Silver is the money of merchants.
Dollars are the money of fools.
You got it! Fiat currency "backed by nothing but empty promises"
Can I get your address please?
True but it is things like this that light fuses as Guy Fawkes was trying to on 5 November 1605. LBMA may feel it.
Question I ask about silver is: If demand for silver supports price, and 50% of silver is used by industry, when the SHTF, and there is no industry, therefore 50% less demand, what will happen to price of silver.
Silver is, by it's nature, money itself. Industrial demand isn't why I convert my labor into PMs. We've been tricked into believing otherwise by the tiny hat brigade AKA central bankers. PM prices have to be suppressed at all costs otherwise the fiat dollar ponzi scheme comes to an end.
https://files.catbox.moe/sr7a5c.png
I did a little reading about the COMEX the other day. Seems that in the case of PMs, the same problem exit as with green dollars. Contracts exist on paper, when in reality if all contracts holders took delivery, that silver does not actually exist. And there are multiple owners of the same paper silver.
I forget the term, but you're familiar with the practice of holding an asset, then offering that asses as collateral on a loan. In practice, at loan time, the asset belongs to the loan entity, not the borrower. As I understand it, there is often three of for levels deep of this kind of thing on paper contracts, and each level technically claims right to take delivery on the paper PM.
Short selling silver is what JPMorgan (and others like HSBC) does to help keep the price suppressed. And you're correct with COMEX - it's all paper tomfoolery where they are supposed to have the physical assets to back up the paper contracts, but they don't. It's a complete scam: https://www.businessinsider.com/jpmorgans-nickel-bags-turned-out-to-filled-with-stones-2023-3
The LME first announced the "mix-up." Like, woops, we though were were filling those bags with Nickel, and mistakenly filled them with stones.
We've all done that right? Go to the store, pay 55c for an item. Give the cashier two quarters, and a stone by mistake.
Do they assay the bricks that are in depository? I am learning that a gold 1 oz. bar can be faked in extraordinary detail where multiple test are required to spot the fake.
Which dealer do you prefer to deal with and why?
I have a guy at Schiff I have dealt with on numerous occasions. Not sure if I'm getting the absolute lowest price, but I think Schiff is competitive.
Schiff....Gold? I know Peter Schiff, as I started out listening to his commentary, but have since moved on from him. I can't comment on any of his companies or the one you're referring to.
The old PM saying goes: "If you don't hold it, you don't own it". So I prefer physical assets and I'm not rich enough to need to consider 3rd party storage options, so I can't comment there.
I'd advocate for purchasing at a local coin shop nearest you - cash -> physical and little to no paper trail. Barring that, online dealers like: APMEX (great selection, high premiums to match the high reputation), JMBullion (good selection, high premiums).
Golden State Mint, Scottsdale Mint, Monument Metals, SilverGoldBull, SDBullion, BullionExchanges are all very good. If you order online, I'd recommend paying the extra ~$10 for upgraded shipping - worth it for the piece of mind.
I actually stopped by a local coin shop to learn more about how they operate, and their pricing. Surprised to find price very competitive with online dealer, if not better. The proprietor actually handed me an internal-only sheet that had the prices for bars, coins, rounds. The % uplift was lower than I expected from a brink and mortar dealer.
Personally, if I did have some physical, I would never even hint that it was so, not in a comment thread or anywhere else.
I've heard ancient stories of people turning to rock, and Lotts wife turned to a pillar of salt. Egyptians turn to silver. That's taking it up a notch.
Based