Silver taking off

[silveraddict]

Is this what we all have been waiting for?
Skyrocketing silver price.
Looks like silver is finally going to have it's time to shine.
$30.00, 50.00, 75.00 maybe $100.00
At what price do you sell and what do you sell?
I think I will start selling my 40% when it reaches $40.00
I have a few thousand of them.

The other option is to play the silver/gold ratio.
This might be an INCREDIBLE time for this.
I don't think that gold is going to take as big of a ride as silver.
We might see the ratio down into the teens.
I have played this game a few times.
I have about 500 oz of silver from the last time I traded gold for silver.
This could be a trade that gives me A LOT of gold to stash away.
I gotta think about this.

 

Amazon Forum Fav 👍

Diving for Pleasure and Treasure - Grab it through Amazon!

[ARC]

My reply is relatively simple. You stated the "American dollar will never hurt" and then referenced how its the world currency. Has the American dollar 'always' been the world currency? Of course not....and someday that will be true again. I don't agree with any conspiracy theories regarding the eminent fall of the US dollar...but it will happen at some point.

Here's my theory...I believe trust is a huge issue in the US today and will continue. Eventually everyday people will start to understand and become comfortable with digital currency and my belief is that digital currency will eventually replace as the world currency. That said, I'm not loading up because I have no idea which digital currency(s) will make it.

Your forgetting one very real detail...the one main drawback... for there is always one with everything... the fact that electronic theft and fraud is rampant and on the rise.

The simple fact that its a lot harder to steal money in a pocket than theft by electronic means from a safer distance... and this is and will become more and more appealing to thieves.

This alone will keep the dollar in check.

 

Amazon Forum Fav 👍

Upgraded Night Vision Monocular Digital Infrared Monocular Telescope for 100% Darkness with 8X Zoom - Grab it through Amazon!

[pepperj]

The stimulus has nothing to do with it. The GameStop instigators are now going after silver because there is more paper than physical and a ton of shorts right now.

Nope they said the run up on silver has nothing to do with it. They're holding on the 8 main stocks as GameStop, Blackberry, AMC.

[FONT=&quot]The regulators also said that they will be making sure companies meet disclosure requirements for anything material that might affect their stock prices.[/FONT]

• ANALYSIS: Everything you need to know about how Reddit drove up the price of GameStop

[FONT=&quot]Toronto-listed shares of BlackBerry closed up 4.7 per cent on Monday, but are still down nearly 18 per cent over the past five days after whipsawing last week. The stock has been popular on Reddit forum BayStreetBets, the Canadian counterpart to U.S. viral phenomenon WallStreetBets.[/FONT]
[FONT=&quot]In the U.S., shares of GameStop dipped below $100 a share. At one point last week they were trading at almost $500, after a WallStreetBets campaign to buy up the shares and punish short sellers in the process.[/FONT]
[FONT=&quot]GameStop shares were down 30 per cent on Monday, and another 50 per cent on Tuesday in early trading. Bloomberg reported Tuesday that the short selling interest was down to about 50 per cent of the company's shares.[/FONT]
[FONT=&quot]At the peak last week, the short interest in GameStop topped 140 per cent, so the reduction implies short sellers are exiting their trades and loosening the so-called short squeeze.[/FONT]
GameStop is now trading under a $100

 

[pepperj]

https://www.kitco.com/charts/livesilver.html#ny

Back down $26

 

[LooseChange]

All previous world power fiats have failed.

This is simply not true. As long as we have fiats that are still in use then you can't say all have failed. . .

That is the point though. All previous world power fiats have failed. still in use fiats are not previous fiats.

Babylonian to Roman world powers have used fiat currency. Those fiats have failed.

 

[Swaveab]

There was a time when the dollar was first looked up to as well as American industrial might back in the early 20th century and then the crash happened. Sure some safeguards are in place, but it is not any guarantee. Just remember the dollar is nothing more than a fancy piece of cloth with special ink on it and we might be spending some other type of money in the future be it just transferred numbers or round pieces of quartz. Who knows? I've certainly little confidence in our government with the leaders in power now.

 

[mts]

That is the point though. All previous world power fiats have failed. still in use fiats are not previous fiats.

Babylonian to Roman world powers have used fiat currency. Those fiats have failed.

That makes no sense. That's like saying "all failed fiat currencies have failed". If a "previous" currency is synonymous with a "failed" currency, then I'm not sure what your point is. Your statement still doesn't mean that current fiat currencies will fail. But you are certainly trying to imply that with your statement.

No offense but this is just one of my pet peeves. That and: "the inflation adjusted price of silver since 1980 is...". Wonder why they always choose 1980 and not 1979, 1983, 1967, or ANY other year besides 1980? Why? Because the inflation adjusted price of just about any other year besides 1980 is less than $30. And for most years it is less than $20.

I also see that you completely skipped over my comment about: "ALL attempts to use a gold or silver standard to back a currency have failed. There is no arguing that point."

 

[Swaveab]

That makes no sense. That's like saying "all failed fiat currencies have failed". If a "previous" currency is synonymous with a "failed" currency, then I'm not sure what your point is. Your statement still doesn't mean that current fiat currencies will fail. But you are certainly trying to imply that with your statement.

No offense but this is just one of my pet peeves. That and: "the inflation adjusted price of silver since 1980 is...". Wonder why they always choose 1980 and not 1979, 1983, 1967, or ANY other year besides 1980? Why? Because the inflation adjusted price of just about any other year besides 1980 is less than $30. And for most years it is less than $20.

I also see that you completely skipped over my comment about: "ALL attempts to use a gold or silver standard to back a currency have failed. There is no arguing that point."

There is a saying that doing the same thing over and over again and expecting a different result is the definition of insanity. To expect the dollar to be divine and rock solid in spite of all previous currencies resulting in failure is at best wishful thinking.

 

[LooseChange]

That makes no sense. That's like saying "all failed fiat currencies have failed". If a "previous" currency is synonymous with a "failed" currency, then I'm not sure what your point is. Your statement still doesn't mean that current fiat currencies will fail. But you are certainly trying to imply that with your statement.

No offense but this is just one of my pet peeves. That and: "the inflation adjusted price of silver since 1980 is...". Wonder why they always choose 1980 and not 1979, 1983, 1967, or ANY other year besides 1980?

And I see that you completely skipped over my comment about: "ALL attempts to use a gold or silver standard to back a currency have failed. There is no arguing that point."

It is not a nonsense point. Nor is it intended to be argumentative. Sorry that you've taken it that way.

The usd dollar will fail. The British pound will fail. The Peso will fail (again). The Yen will fail. The Euro will fail. All in-use fiats will fail - just like all previous ones have.

I agree that all attempts of commodity backed money (such as gold or silver backed) have failed. That is an insightful point. I didn't intend to belittle it by omission as there is no contradiction.

 

[Owassokie]

Your forgetting one very real detail...the one main drawback... for there is always one with everything... the fact that electronic theft and fraud is rampant and on the rise.

The simple fact that its a lot harder to steal money in a pocket than theft by electronic means from a safer distance... and this is and will become more and more appealing to thieves.

This alone will keep the dollar in check.

I agree that theft is an issue but I disagree with your assessment. You state "theft is rampant and on the rise" which may technically be true but it doesn't really account for the explosion of opportunity for digital theft and poor decisions being made by us "Olds" that don't put the appropriate controls in place. But this is also an issue that will become LESS problematic over time...not more. Ironically, AI and the advances in technology (blockchain) will make electronic theft more difficult and less of an issue. Again....this all really comes down to trust. I'm betting people will reach a point where they trust crypto currency more than cash. Honestly, I don't think it's even a real race...just a matter of time. People already trust in electronic exchange of money...few actually use cash. They just don't understand crypto currency.

 

[Al D]

That is the point though. All previous world power fiats have failed. still in use fiats are not previous fiats.

Babylonian to Roman world powers have used fiat currency. Those fiats have failed.

The failure of those FIAT currencies must have something to do with the demise of those kingdoms since they are intimately linked.
To call out a failed currency without looking at the political, social and economic factors which existed prior to that failure, is a naive way of looking at things.

 

[LooseChange]

The failure of those FIAT currencies must have something to do with the demise of those kingdoms since they are intimately linked.
To call out a failed currency without looking at the political, social and economic factors which existed prior to that failure, is a naive way of looking at things.

Of course they are linked.
The only naive way of looking at the situation though is the one that presumes that current world powers and their currencies will last forever. There is no such thing as forever.

Obviously, a currency cannot survive if a world power fails. There are a few modern examples of currency failures for top-twenty-percent economies though (Russia/8th, Mexico/15th, Argentina/31st, Peru/48th, Greece/50th). Massive government spending (ie: finance wars, public projects, stifling debt, etc) is always a precursor to currency failure.

I do not predict that I nor even my grandchildren will be alive to see the usd fail. But, call me naive if you must, it will happen.

 

[Xraywolf]

What is "fail" - As in 100% insolvent, completely losing value ?

Tough to see that happening and futile to try to predict, obviously this country is currently as fractured and divided as it has ever been in history, if that trend continues and/or worsens, and every indication points that it will, it can only weaken our economy, embolden our enemies [primarily the one that starts with a C], and give extra impetus to the use of electronic/alternate currencies which cannot help but weaken the USD.

 

[ARC]

I agree that theft is an issue but I disagree with your assessment. You state "theft is rampant and on the rise" which may technically be true but it doesn't really account for the explosion of opportunity for digital theft and poor decisions being made by us "Olds" that don't put the appropriate controls in place. But this is also an issue that will become LESS problematic over time...not more. Ironically, AI and the advances in technology (blockchain) will make electronic theft more difficult and less of an issue. Again....this all really comes down to trust. I'm betting people will reach a point where they trust crypto currency more than cash. Honestly, I don't think it's even a real race...just a matter of time. People already trust in electronic exchange of money...few actually use cash. They just don't understand crypto currency.

Then we will have to agree to disagree... ...FOR... I disagree with your assessment :P
Because... IMO... crypto currency is a joke.... I mean you have got to be joking... like I have stated before... (not in this thread) ... monopoly money has more value.
Not enough backing it... no guarantee... and definitely no wide spread belief... which is what it takes to be really "tangible".
Oh... and PS...
Don't fool yourself with a false sense of security... IF you are online... you are never secure.
Ever.
No matter what technology exists... it is all only just temporary.
Sooon as its built... they will find a way through and into it... or manipulate it.
This will always be an ongoing battle.
Remember... The rule of thumb in life is... its much harder to build than it is to un-build.

 

[ARC]

What is "fail" - As in 100% insolvent, completely losing value ?

Tough to see that happening and futile to try to predict, obviously this country is currently as fractured and divided as it has ever been in history, if that trend continues and/or worsens, and every indication points that it will, it can only weaken our economy, embolden our enemies [primarily the one that starts with a C], and give extra impetus to the use of electronic/alternate currencies which cannot help but weaken the USD.

X... China needs us as much as we need them... They have no reason to ever do anything but business with us.

Our money built them... and... our money keeps them going.

They aren't stupid man... they know enough not to bite that hand that feeds them.

 

[Xraywolf]

X... China needs us as much as we need them... They have no reason to ever do anything but business with us.

Our money built them... and... our money keeps them going.

They aren't stupid man... they know enough not to bite that hand that feeds them.

We are going off into territory not suited for this section of the forum, to continue advise the politics subforum, if able.

 

[mts]

There is a saying that doing the same thing over and over again and expecting a different result is the definition of insanity. To expect the dollar to be divine and rock solid in spite of all previous currencies resulting in failure is at best wishful thinking.

I have never liked that saying because it is so easily proven wrong. I could drive without a seatbelt over and over again without ever crashing and that saying implies that to believe that some day I could drive without a seat belt and get killed in a car accident would be the definition of insanity. Yet we all know that it is NOT insane to believe that I could some day get killed in a car accident.

And where did I call the US dollar divine and rock solid? I'm simply saying that to say that it is a forgone conclusion that current fiat currencies have to fail because some past currencies have failed isn't logical.

 

[mts]

It is not a nonsense point. Nor is it intended to be argumentative. Sorry that you've taken it that way.

The usd dollar will fail. The British pound will fail. The Peso will fail (again). The Yen will fail. The Euro will fail. All in-use fiats will fail - just like all previous ones have.

I agree that all attempts of commodity backed money (such as gold or silver backed) have failed. That is an insightful point. I didn't intend to belittle it by omission as there is no contradiction.

It simply isn't logical to say that all currencies will fail because some currencies have failed in the past. And so, I don't know what else to say to you. Your beliefs are wishful thinking. They may indeed come true, but it won't be because they are logical.

 

[Phil]

“Rome will exist as long as the Coliseum does; when the Coliseum falls, so will Rome; when Rome falls, so will the world.”

-Venerable Bebe


They believed the aureus would always have value too.................And it was made of gold.

 

[jrf30]

"Looks like silver is finally going to have it's time to shine.
$30.00, 50.00, 75.00 maybe $100.00
At what price do you sell and what do you sell?"

Sorry, but not going to happen. IMHO. The boys might be big enough to take on a stock or three, but not a PM market. They are out of their league.

I sold some, not all, but about 3,000 ounces, yesterday. Got $38 per Eagle and $24X face for 90%. I think the spot will tread water, as it has done, but the premiums will go back down, and that means I'll buy back within 3 months for about $31.50 per Eagle and maybe 17X face on the 90s. $100? Nope. $50? Not even that. Just not going to happen from this push. Is it coming? I believe. but if I can sell out on a weird situation like this, and buy back in when it settles lower? Allows me to stack more than I had before. :-)

 

[WG2020]

Folks be careful...definitely don’t risk more buying silver than you can afford to lose...the market is being manipulated...I read an above post saying they saw silver being offered at a $100 an ounce on Craigs list..spot is little over $27...yes, I know you can’t find anyone to sell you physical silver at spot but the spot price shows you what the market makers are buying and selling it for, and yes, it is still being moved....as an example of manipulation....Game Stop hit an intraday high of $483 last week and closed at $90 today...with a drop to $85 in the aftermarket...it can run up fast and drop just as fast...good luck with your hunts and trades. Walt