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.

 

[jrf30]

"the problem may be being able to sell your physical silver for anywhere near spot."

With spot moved up to about $28.50, I was able to get $38 per Eagle and 24X face on 90%. 90% almost NEVER trades at a premium to spot, and that is a HUGE one.
So selling physical was a BREEZE yesterday. Lots of buyers, all paying more than the spot said to pay for those coins. Even now, with spot going back down, premiums are higher than normal by a LOT. Shoot - $10 per coin premium on Eagles? That's nuts! I hope some others took it as well. Strike while the rumors re flying and the premiums are too high. :-)

 

[jrf30]

"if a group of retail investors want to band together and very artificially (and very temporarily) run up the price of silver, I will happily take advantage. I won't totally get away from PMs, or likely even silver, forever. I will either buy the silver back at a cheaper price when the squeeze is over "

BINGO!!!!!!!! :-)

The words "very temporarily" are the key to say SELL now. And buy back "soon", whatever that means.

 

[fistfulladirt]

Price goes down and there’s no supply.

 

[Owassokie]

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.

I get it. I'm not comfortable with the idea of a crypto currency in general. I'm not a techy. More importantly, it's not like I've loaded up on the stuff either. I'm not sure it will look the same or where the value will exist within the blockchain/cryto world. We can agree to disagree but I'm going to take one more crack at convincing you . The issues you raise about crypto (along with other concerns) already exist with paper money. How much of it exist? Can it be fake? Can it be stolen? Is the paper actually worth anything? If the government creates too much of it, will it lose value? I've done enough research on blockchain technology to conclude that EVENTUALLY, people will trust it more than they trust paper and and government. It may not happen for my generation but as we get older and blockchain begins to play a very significant role in society, trust will build and understanding will build. My opinion is....like it or not, it's coming unless something comes along to reset earth back to the stone age.

 

[Owassokie]

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.

I also want to address this ^ portion of your reply. If you're talking about forms of currency that have existed over mellennia such as precious metals...Ok...I agree. Over a long enough time period, any form of technology is bound to fall. But if this is still a comparison of cash to crypto...I totally disagree. If you are referencing the US dollar, I'd just refer you back to what you wrote above. "No matter what technology exists... it is all only just temporary."

 

[LooseChange]

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.

That's upside down. It is wishful thinking that the USD (or the US for that matter) will never fail. The logical misstep is in saying: It hasn't failed yet and that is somehow evidence that it won't fail. All historical precedent says that both will fail. Every single previous world power has collapsed. All of them. The US has only existed for 250 years. Modern times actually makes failure more likely than for antient times/antient world powers.

My wishful thinking would be for a strong US and strong USD forever. It is simply not possible.

 

[Al D]

It may be beneficial to define the term failed as it pertains to this discussion.
failed means an unexpected, or non planned stoppage which would result in a chaotic status.
if a currency or country, for that matter, were to evolve of change onto something which works better for the situation of population, I would not consider that a failure. As an example, it has been successfully demonstrated that the Roman Empire never really collapsed, it just adapted, changed into something more successful.

 

[mts]

It is simply not possible.

Why is it not possible? Logic says that it is absolutely possible. Do you have a logical reason you can give other than past history of some poorly managed fiat currencies that makes you think it isn't possible?

It is definitely possible. I think what you meant to say is that it isn't probable.

 

[LooseChange]

That's upside down. It is wishful thinking that the USD (or the US for that matter) will never fail. The logical misstep is in saying: It hasn't failed yet and that is somehow evidence that it won't fail. All historical precedent says that both will fail. Every single previous world power has collapsed. All of them. The US has only existed for 250 years. Modern times actually makes failure more likely than for antient times/antient world powers.

My wishful thinking would be for a strong US and strong USD forever. It is simply not possible.

It may be beneficial to define the term failed as it pertains to this discussion.
failed means an unexpected, or non planned stoppage which would result in a chaotic status.
if a currency or country, for that matter, were to evolve of change onto something which works better for the situation of population, I would not consider that a failure. As an example, it has been successfully demonstrated that the Roman Empire never really collapsed, it just adapted, changed into something more successful.

Why is it not possible? Logic says that it is absolutely possible. Do you have a logical reason you can give other than past history of some poorly managed fiat currencies that makes you think it isn't possible?

It is definitely possible. I think what you meant to say is that it isn't probable.

There is indeed a logical reason for it not being possible.

There might be various perceptions of "fail". But, there is only one meaning of "forever". Logically, humans (and human manifestations) are not even a glint when considering the abstract concept of forever-ness.

The simplest reason that it it is absolutely and unquestionably not possible for the USD to avoid failure forever (no matter how you define failure) is that there in no such thing as forever in this context.
A world changing event will happen. They always do. If nothing else topples the dollar, the sun will exhaust its fission fuel and begin to cool. Any scenario where humans become capable of colonizing other solar systems before that happens also have a finite end.

 

[mts]

There is indeed a logical reason for it not being possible.

There might be various perceptions of "fail". But, there is only one meaning of "forever". Logically, humans (and human manifestations) are not even a glint when considering the abstract concept of forever-ness.

The simplest reason that it it is absolutely and unquestionably not possible for the USD to avoid failure forever (no matter how you define failure) is that there in no such thing as forever in this context.
A world changing event will happen. They always do. If nothing else topples the dollar, the sun will exhaust its fission fuel and begin to cool. Any scenario where humans become capable of colonizing other solar systems before that happens also have a finite end.

None of that is logical. You can't arbitrarily define your own "context" and then state that nothing is forever in that context. Beyond that you are arguing whether or not forever actually exists. I think that is beyond the scope of this forum and certainly more than I want to get into.

We will have to agree to disagree. The bottom line for me is that "if the first thing out of someone's mouth is a lie, how can you believe anything else they say". I'm not saying YOU are lying. All I'm saying is that the average silver bull will often repeat the following two claims within the first 60 seconds of talking to them. And once they make these claims, I know that they either don't know what the heck they are talking about or are purposely being deceptive.

The two claims to watch out for...

1. All fiat currencies have failed.
2. The inflation adjusted price of silver since 1980 is <insert value here>.

There are other common silver bull claims that are also misguided. But these are the two most common and neither one makes any sense.

Thanks for the discussion!

 

[LooseChange]

None of that is logical. You can't arbitrarily define your own "context" and then state that nothing is forever in that context. Beyond that you are arguing whether or not forever actually exists. I think that is beyond the scope of this forum and certainly more than I want to get into.

We will have to agree to disagree. The bottom line for me is that "if the first thing out of someone's mouth is a lie, how can you believe anything else they say". I'm not saying YOU are lying. All I'm saying is that the average silver bull will often repeat the following two claims within the first 60 seconds of talking to them. And once they make these claims, I know that they either don't know what the heck they are talking about or are purposely being deceptive.

The two claims to watch out for...

1. All fiat currencies have failed.
2. The inflation adjusted price of silver since 1980 is <insert value here>.

There are other common silver bull claims that are also misguided. But these are the two most common and neither one makes any sense.

Thanks for the discussion!

I didn't define the context. The context just is what it is.

To be clear: My belief/assumption is that silver (or any other PM) will never be more valuable than its intrinsic value (ie industrial, artistic, or trade use value). If it were ever to permanently soar to over $100 per OZ, that is only because $100 has changed, silver has not. When it seems that there is an exception to this rule (such as the Hunt year), the value of the silver did not really change. The transient swings are obviously reality, but they do not demonstrate that the value of the PM has changed.

I agree that anyone using the 1980 price of silver in their argument is being deceptive or trying to manipulate (or both).

I stand by my assertion that it is a logical certainty that the dollar will fail. As I've said before: I believe that such a failure will not happen this generation, the next generation, or the next-next generation. It must happen at some point though. No one alive today should make plans for how to deal with that inevitability.

Either stack silver as a hedge against inflation, or, trade the dips, or both.

 

[Mr. Silver Stash]

This is simply not true. As long as we have fiats that are still in use then you can't say all have failed. But here is a 100% true statement that you can feel free to use if you want...

ALL attempts to use a gold or silver standard to back a currency have failed. There is no arguing that point.

Yes, but has Gold and Silver ever failed AS the currency? I don't think so. It's probably the earth's longest standing money.