Precious Metals New Thread 2.0

I'm here and digging it! $21.55. Other forums I'm on (mostly firearm) we have been buyers under $15 for many moons. And sold my SLV, holding physical.

 

I’d keep hanging on to that physical for a while. Maybe it’s just wishful thinking but the stars look aligned to me. Shorts are getting roasted, supply is slim, it is out of that channel it has been in for 6 years, and every major world government is spending heaps of cash including ours. The only thing that scares me a little is how fast it popped the last couple days. That doesn’t tend to end well, but it is coming off such a huge base it might not matter.

 

There's no resisistance to silver until $50 which it's attempted a couple times in 40 years. After $50 sky is the limit. Above ground silver is 1:1 to gold, fun fact.

 

One of the reasons gold and silver are way up is they just approved Judy Shelton to the Fed board of governors. She's said repeatedly she wants to create a gold and precious metals backed currency.

https://mobile.twitter.com/GoldTelegraph_/status/1285640183417835521

 

Yes sir. exciting times for Metals and Cryptos as she has been nominated. Very bullish!

 

Just hopped back on the forum after a 6 month hiatus, as not much was happening. These metals are starting to wake up

 

I'm not really bullish on cryptos. There's way too many and as energy gets cheaper (maybe free) they'll all sell off, especially the proof of work cryptos.

 

Internet of Value, Sir. Yes theres many but the ones who bring value and specific use to an industry will only increase in worth.

 

Agreed, but many are open source, the USG could launch one to support a currency, specifically one that isn't hoarded by the devs.

 

Big News for cryptos. The Comptroller of the currency just released that Federally Chartered banks can now legally store crypto assets!

 

Beautiful consolidation in silver the past 2 days. I keep looking expecting it to shoot up or down but it is just sitting in its range.

 

Hey everyone, I think this is one of the first legs up.
The first step will be to hit PM all time Highs.
And if it holds it should take off from there...

Eagles we bought last summer for $18 hitting 35 today...
It's been a long haul but it looks like it's starting to take shape.
With "C19" countrys are shipping much less PMs around.
So there are definite shortages.

Had to place another order yesterday ouch.... But had to move some money around.... Cost average is still good...

Still could be a few years to work out but I think this is finally the start...

 

Holy shizzle

 

I know, but since Trump everyone thinks we are OK and in fact there is even more money printing than under O........

Now the price is up, inventories are down to scraps so this is the start of the party...

Everyone is using the C19 excuse to move forward with all their plans. Shutting down borders, trade and travel is about the money system breaking down not the flu....

 

The world is awash in money and assets. We need to get rid of debt and have asset backed currency. So there's trade that is asset for asset, not asset for paper (debt).

All debt is a piece of paper that says you owe something, secured or unsecured.

 

This was posted on the Fidelity Community Discussion forum this AM:

"Physical Au and Ag are in a short squeeze. When contracts expire the holders are demanding delivery of the physical not rolling the contracts as a hedge. That puts the swaps dealers in a bind as they don't hold enough metal to meet demand. It'll be interesting to see how this plays out."

 

I wish this could happen but they changed the rules so they can settle in cash and that's what they will do...
But it's getting there...........

 

Wow finally looked at my PMs stocks and they are crushing it... I should have bought the dip... On these my long term hold paid off, but I should have been trading them...

I think miners have fully recovered and are just starting to hit...

I believe in holding Physical PMs, but we all have stocks so we should also take advantage of the situation...

I have changed my perspective on the market and have to say Jim Willie was correct when he said the dollar will be inflated away, meaning unlimited printing which is what is happening right now. Also meaning like Venezuela the market will be the indicator of inflation and will just keep going higher, just a matter of time before the dollar start dropping in value like a rock.. So the market may be 100,000 but only worth 10,000 or 20,000..

I'm conservative and am planning for 50% value drop/inflation and a new dollar on the way... But it could be worse, hopefully PMs can out perform the inflation or reevaluation that's coming.

 

Some promising information, could be the last few months to add to the stack....

 

Now I don't trade SLV or GLD any more because they are so corrupt, so I choose not to support them and aid them in fixing the PMs prices.

When buying those ETFs there will be multiple contracts for the same metal so you are at risk of default, not a good choice during a PMs shortage....