1.7M people. The number of people required to buy 8oz of silver per month to buy up 100% of the ~160M oz produced yearly, but not used for manufacturing.
(media.greatawakening.win)
💥 BANK COLLAPSE 💥
I'm at 138 oz this year.
I did my part.
Here is a great link for following the metal market.
https://econanalytics.substack.com/
At current price of $28.50 this is $228 per month and $2736 per year. Rounded up to 12x 10oz bars, this would by $285 per month and $3420 per year. Many people spend more yearly on Starbucks, just saying.
1.7M people is 0.515% of 330M total US population.
I quit drinking a few months ago. I can now buy 20oz per month.
As of this moment (4-22-24 @ 7:09am EST) silver is $27.48...down a dollar from what you posted. I know, silver (and all metals) fluctuate a lot, but I will be convinced when it goes above $30 and stays there for a while.
Side note: I wonder what would be considered a "safe" amount of silver to have on hand? ...an amount that would see a person through a really bad depression or currency collapse?
Would it be 100 oz? 500 oz? More? Less?
Any thoughts?
Check historic prices from the middle ages down to today ....The actual price is rather stable in relation to all kinds of goods and services.
I have no recommendation for you where it comes to the amount of silver. I would recommend to continue stacking. It is a resource, and a resource that is not readily available.
Banjo Man, thought I've mentioned it before in other threads but keep buying as much as you can buy and/or safely store (relative to your sanity). Historically, 1/10 of an ounce was a daily wage for labor and you can buy 10 days of labor for ~33-35 an ounce currently. Never before has a real asset, real money been as "cheap" as it is today. Trading a fake resource created out of thin air (fiat currency) for a real asset that has always been a medium of exchange.
Once we hit a spot price of $30 an ounce, silver will never be as cheap as it is right now today - $30 is a huge resistance line and psychological factor. I'm sure demand will skyrocket and you won't be able to buy an ounce from an online dealer for less than $45. It will be like 2011 all over again except worse. Hell, ASEs have a $10 premium again when it wasn't too long ago it was only 3-5$ once the USMint increased production late last year/early this year.
https://litter.catbox.moe/p6ik4u.png
Thanks for that cogent reply. I think you're right on all counts.
Subsequent thought... when those covid stimulus checks came out, I bought ammo and silver with it.
Preps of all kinds is what we should all be preparing for, since we don't know exactly what the Precipice will look like. But if you have "enough" of everything else, silver makes for great overflow protection lol.
No worries there, I've been preparing for this moment in history for about 20 years now. Saw it coming long ago. Besides silver, I've invested in lead and food and water...AND water filtration systems, fire-starting skills, and such.
All great things, indeed.
Also, to answer how much metal you "need"... The internet forum answer is always " your body weight" worth lol
That reminds me of this story, long ago back in the early-to-mid 20th Century, of the Aga Khan being given his weight in gold as an annual tribute.
https://therake.com/stories/earths-heavnenly-treasures-extraordinary-life-aga-khans
From that article: "On Sir Sultan’s Golden Jubilee in 1937, they presented him with his weight in gold, with 30,000 onlookers cramming a square in Bombay to witness the spectacle."
There is a psychological phenomenon where investment price goes up, and people put more money into it. Its a strong urge.
That is happening right now with Metals.
Banks are terrified.
Guarantee you, The People Of the West have just bought a fair bit of Silver as a whole.
Lets see what happens.
Vaults are nearly empty in the West. Certainly by Sep/Oct all the physical available will be gone in US unless you buying from dealer or individual with stockpile.
It would only take one large manufacturer (like Tesla) “securing their silver supply chain” by buying a huge amount to send the price to $360/oz if the manipulation could be broken even temporarily.
https://www.youtube.com/watch?v=4WXoopIH1_o
AMAZING Video
"China is a sleeping Giant, When she wakes, it will move the world" -Ryan Cohen
Or something like that.
Good one! Ty. General summary:
Very evil, imo.
Shanghai metals exchange operating with silver premium price since fall 2023 creating price arbitrage vs COMEX and London Metals Exchange, effectively now sucking silver out of the West at an accelerating rate. Chinese are literally paying the Brits back. They did not forget.
Absolutely amazing huh.
Indeed. Considering that this did not appear in a vacuum. Silver got demonetized. Somebody was hunting for it.
A European bankruptcy followed by one in the America' s would come in handy, no?
Who then are really behind the Jacobine revolt, called French Revolution? And why did Bonaparte institute a new aristocratic regime?
800M oz annual WORLD silver production, but only ~20%, 160M, is not consumed in manufacturing. Upside down on supply vs demand for 4 years straight and price has just nudged up maybe 30%?
Low price suppresses incentive for production, creating continuous shortage. This is not free price movement. We appear to be looking at 10 more years of supply shortage even if new mines were built starting today.
My favorite dealer offering a stack of 20 in a tube at 28.84 each ( 1 oz Silver Rounds - Design Our Choice ) I've bought from them quite a lot over the years and haven;t been let down.
i buy them a tube at a time, come in a brown box labelled " SD Bearings ", in case anyone get to shaking it and wonders what's inside i guess.
I can only afford two ounces a month, but I've been doing that for almost ten years, so it's added up.
U gonna be a silver millionaire in $$$ terms. Hopefully that buys more than 1 coffee. /s
This appears to be a test of faith that we can stay “retarded” and keep stacking longer than manipulators can retain price control. We are likely within 2 years of winning this battle that started way back in 1873 (Coinage Act).
We (UK) used to be able to buy silver tax-free until Brexit but now we have to pay 20%
Are bullion coins still tax free here in the UK?
For gold only - no VAT or CGT.
Silver coins can dodge the VAT by not taking delivery; you pay to keep them in a vault. Not sure about platinum.
OK thanks.
Interesting. Silver and gold purchases in some US states now exempt from sales tax. Other states making capital gains tax free as well. Wisconsin is latest to drop sales tax: https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-wisconsin-repeals-sales-tax-on-gold-and-silver/