Silver breaks through $64 on third attempt on its way to $83 ($4.5T marketcap), knocking MSFT out of the TOP5 worldwide assets.
(media.greatawakening.win)
𝕃 𝔽 𝔾 ! ! !
Comments (51)
sorted by:
Bankers need a diaper change. The only thing they are doing now is postponing their own end.
The whole world is buying silver, the banks can't keep up.
Spot hit 64.03,we are getting very close to backwardation. That is when spot is higher than the futures market. Smelters will have to shut down as it will cost them to much to hedge the price.....
I read a while ago the backwardation will persist until at least the second quarter next year. Its going to be a wild ride.
.30 away from backwardation right now.
It's one more thing,to jack up the market in our favor..
I knew I shoulda bought another 1,000 a couple weeks ago...
Monster box was like $28,500 now it's $37,500... How's your gay BTC doing?
My money's all tied up in dong and dinar...them redemption centers tho...
u/#pepedance
Some will never get sarcasm
Do silver dealers pay this much when you actually go to sell?
Who’s selling???
I bought mining stocks and options to sell,so I can keep my shiny.....
At a lot higher price.
*cell
JP Morgan
What does that word even mean?
Pfft no thanks 😎
A couple weeks ago I saw a youtube vid showing a person calling up various dealers and asking about their silver buy price. They were buying it in the range of one dollar under spot.
That's not great considering they sell it over spot, and the entire purpose of their "premium" is to sell it over spot, so it's really a "premium-premium" buy price, but at only a couple percent over spot, it's not that bad either. Once we can just use it as a currency that whole system goes away, but we're not quite there yet.
Anyways, yes. You can sell your silver pretty close to spot.
Having said that, if you do, to be blunt, you're a fuckin' idiot. Now is not the sell, now is the time to buy more. I personally will never "sell" my silver. I will use my silver to buy things directly when the time is right.
All dealers buy below spot and sell above spot. How else would they make money being a dealer?
I do agree though. Don't sell, we are in for a ride if you are in metals.
That's a monetary advantage to the dealer. If they buy below spot and sell at spot they make money in the exchange.
That's a monetary advantage to the dealer. If they buy at spot and sell above spot they make money in the exchange.
That's called "double dipping" in the same exchange.
They make money twice. That's my point. Most commodity exchanges don't do that. For example, if you buy from a wholesaler and sell to a retailer, that's a single monetary advantage from a single exchange. The percentage to the seller is whatever it needs to be to be reasonably profitable. Some retailers who sell from great volume get only a few percent on the exchange.
Silver exchange should be (and usually is) exactly such a system. Indeed, many silver sellers buy from the wholesaler at spot. It is only when someone comes to an individual, bringing the silver to the dealer that they get an even more profit advantage. They get free shipping AND an additional premium.
The whole system of "selling your silver" is completely fubar. It is set as a standard of silver dealers because of part of the fuckery starting in the 1970s. The Cabal doesn't want you to use silver. It's part of their system that keeps the price subdued by a factor of 10 or so.
I've sold at spot years ago.
Alot of dealers are only buying way under spot in the 50s because they fear a huge pullback and if they buy even a dollar under spot there is fear of becoming a bag holder and thats not good for their business
Sell here then.
https://www.jmbullion.com/sell-to-us/
All the big dealers buy back from retail.
Or here.
https://www.reddit.com/r/Pmsforsale/
I keep waiting for that pullback, after a few years of seeing it happen whenever my silver IRA got close to being in the black for a change. But it seems things have changed…and definitely holding on for a while!
A dollar under spot isnt bad considering i purchased most of my 2800 ozs for under 25 bucks. Im going to convert some of my gold bars today to silver. Ill be in a hold until i can get somethi g besides fiat for it.
It varies from dealers to dealer depending on how much inventory they have and how we'll their sales are. I've read that some dealers are selling at actual spot with no premium as they bought it much cheaper and want to take some profit.
It also depends on the popularity of your shiny,American eagle will probably sell for over spot,and generic stuff a bit under.
90% silver coinage buys and sells for under spot.
take some profit!
I'd rather have the silver than exchange it for fiat currency.
This profit thing confuses me a bit.
I guess given the saying that, you earn in dollars, you spend in dollars, you save in silver (or other PM) it makes since that you have to convert you silver into fiat dollars in order to spend, (take profit)
I took a bunch of profit yesterday with pan American silver calls. They were expiring in mid Jan so I was getting ready to sell them either way,it worked out nice.
I'm still holding calls for March.
Id say sell if you arent holding physical and try to get some physical.
I have way more than I can carry.
I would imagine Cap Gains taxes hit pretty hard there?
Yes,the no tax on overtime,should help me pay it.
They buy @ spot and then sell with their premium so they're fine.
The premium protects them from fluctuations in the price so even if they purchase some eagles from someone for 64, that means the eagles in their counter are +7 bucks, so 71 to buy from the same dealer.
I think the places I have bought from will rebuy what they sold you for 1 dollar under spot, if I'm not mistaken.
So what does this mean? Are the banks gunna crash and the dollar will be backed by silver?
It means that the artificial price suppression that’s been going on since 1965 is cracking, and the true market price of silver is about to be discovered.
Bank of America go's broke at 75 an Oz i read,JP Morgan is supposed to be long on silver so they make bank.....
I think JPM leased out some to BOM so they could essentially do exactly what JPM was getting their peepee smacked for...Is $75 the threshold?
That's what I read,on Wallstreet silver. Some of them look at this stuff a lot and are pretty good.
If I had a saving account with them I would move most of the money out.
Why take a chance,or have to wait on the FDIC.
They have stacks of these bullshit short contracts with each other.
Worst case they write up a contract to cancel out each others contracts.
It's the larger retail investors who have been settling for the cash payout instead of delivery who suddenly decide to demand delivery that is going to crush them.
The last time this came close to happening with gold, That Corazon guy cleaned out the accounts on his bank and all the investors positions were closed.
They will settle a lot of contracts for cash,but a record number of buyers are standing for delivery,and that is forcing up the price.
Yep amd that means the banks are scrambling to get silver at 5 times the cost of the contract. It will break them then gold will end the fed.
Anyone have info tying silver to gme in any way?
If I recall, when gme squeezed years ago there was speculation that silver was ‘next’, but I’m regarded in terms of any true connections, other than they are both ‘shorted’.
I do realize they are different markets.
Could a silver squeeze and a gme squeeze be a checkmate of sorts? Or, just the begenning of a massive collapse?
Conceptually, are there any mechanical or possibly WH strategic tie-ins, in ways that gme is now a little bit tied into btc?
Or, is it possible silver kicks off an AI bubble burst???
Yesh….too complex beyond the basics for my brain
Banks and SHF short on silver lose collateral everyday.they can buy back silver or stonks to help balance their books. It comes down to the borrow rate,on each of them I guess.
MSFT...I read that as "Misfit." Guess I'm not really that far off. Kek! 😂
https://m.youtube.com/watch?v=8M7gz22W0HE&feature=youtu.be <--Current explanation for what's going down. Watch ASAP.
Ugh I want to pick up more.Pull back already.
Might gme moght be in the dumps (for now), but my silver Eagles have appreciated nicely.
LOL, look at that bigcoin slide…. Fake virtual money
one of my coworkers a month ago was asking me about selling silver. I told him to hang on to it. said it might reach 80 by the end of the year. I am sure he laughed at me. Still I do not live with regrets, but I think I am regretting not picking up more silver and gold thru out the last decade. Oh well I can not change it now.
The fact is the price is at this level. I do not have as much as those who are smarter than me. I do have some. I was not buying to ever sell. I am not a gambler either. I did sell some at 40 to purchase a Palladium Eagle.. that was probably a mistake though. lol
is this a good guy or a bad guy doing this or is it just a side effect that finally burst. Could this be a false flag? A distraction for ushering something while people are panicking? Most normies do not know what bullion is. they might think it is coins and nonsense still. So only bankers, those like here, and elites could be distracted with this.
Right there with you….. I shoulda bought some more a while ago.
I keeeeeept saying “I’m too late” about gold too, kept thinking it is too late, but it hasn’t been. ‘2k - eh can’t go higher’ ‘3k - same’. And here we are at 4.3 k…..
I don’t like buying on the way up but might not be too late with silver -besides, if it crashes? How low could it go.
Not financial advice - just random thoughts.
Silver is still a bargain at 1/67.
That’s interesting
Where do you come up with "on its way to 83"?