Gold at $25000. Silver at $600.

PlunkettsGhost said:
I understand crypto is entirely dependent on keeping the lights on. No leccy = no crypto. That is too much counter-party risk for me. which is not to say I haven't and don't speculate in this area. I do, but the idea that this is the future of money is a fantasy
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i worry about about the physical banks disappearing off the high street as increasingly the bastards with your money are harder to locate. Crypto is this on steroids.
 
SeekTheFairLand said:
i worry about about the physical banks disappearing off the high street as increasingly the bastards with your money are harder to locate. Crypto is this on steroids.
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Technically, if the money is in the bank, the bank owns it. You/we are merely creditors of said bank. I keep a large chunk of cash to hand also at all times.
I have a stack of precious metals in a lock box, and you'd need rifles and bayonets to take it. Only an act of God can make physical metals vanish. In the event of a major currency reset/crash, you'd be better off with beans, bullets and household necessities as a means of exchange. Cover all bases is my advice. Metals are a great hedge against currency collapse/devaluation . As Rockefeller said, Gold and silver are money, everything else is just credit.
 
PlunkettsGhost said:
Technically, if the money is in the bank, the bank owns it. You/we are merely creditors of said bank. I keep a large chunk of cash to hand also at all times.
I have a stack of precious metals in a lock box, and you'd need rifles and bayonets to take it. Only an act of God can make physical metals vanish. In the event of a major currency reset/crash, you'd be better off with beans, bullets and household necessities as a means of exchange. Cover all bases is my advice. Metals are a great hedge against currency collapse/devaluation . As Rockefeller said, Gold and silver are money, everything else is just credit.
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but ultimately you have to cash in your gold. I have a store of both gold and silver. I add to it but have never tried to sell it. Have you ever tried to sell on some of your precious metals?
 
SeekTheFairLand said:
but ultimately you have to cash in your gold.
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Yes and no. If the currency seriously devalues against metals, I can cash out into said currency and pay off a mortgage or car loan in the devalued notes. An obvious advantage to hedging against fiat currencies. You can still buy stuff, but inflation/devaluation means you can leverage the diverging values of paper vs metals to your advantage. If things get really bad, people might be happy to have a few ounces of silver for their labor, instead of worthless paper notes.

There is a chap on YouTube who describe his experience during the Yugoslav war period. He said people held onto their metals, didn't use them as barter material, but rather waited for the situation to calm down, and then they went in and bought up cheap land and property, as a result of the economic instability, with their now more valuable metals relative to the currency.
 
I hold PMs in two ways. I have an account with a bullion vault that allows me to liquidate instantly, if I need cash. This can be done over the phone if there are internet issues. My little hoard in the house is for a very rainy day were I don't expect to be able to go to a coin dealer and cash out. I could of course cash out my coins today if I needed to pay a bill. It isn't hard, but you don't get full market value.
 
Today is the day for silver
 
Declan said:
We have been right 3 times, it goes up and it goes down.

I am a hoarder and a speculator. I buy physical and hold forever, but I play the options as well. I have made a fortune and I have lost a fortune. I am loaded up now and hope to make a mega fortune.

But if it does not come in time, all those options expire worthless.
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a word of caution Declan .
the extraction of your wealth from you would be child's play to any middling criminal who would simply find something in your life more valuable to you than your wealth .
DELETE THE LAST POST AND ANY REFERENCE TO YOUR TRADING.
 
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AUL LAD said:
a word of caution Declan .
the extraction of your wealth from you would be child's play to any middling criminal who would simply find something in your life more valuable to you than your wealth .
DELETE THE LAST POST AND ANY REFERENCE TO YOUR TRADING.
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Good advice!
 
There are millions of people like me, trading in options or shares is no different than any other options or shared, pr indeed bitcoin etc rtc
 
It looks as if at last, silver is breaking to the upside. I look forward to Sunday evening to see how the market will react to the passage of the Big Beautiful Bill. I could see silver jump $3 to $40 next week.
 
Silver is being bought on every dip and is a bargain here at under $40
 
It looks like the shorts could be caught at last.

and bitcoin is near $120000. Ibwill ve watching the bond market tomorrow
 
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Judging by the volume here, it is going to break big time, either up or maybe a collapse down. The PTB will hooe to make it til 5pm
 
Don't be crazy, you have waited years for the Squeeze and you bail just as it begins. I might actually buy more Monday morning because the stores could get emptied quickly
 
Declan said:
Don't be crazy, you have waited years for the Squeeze and you bail just as it begins. I might actually buy more Monday morning because the stores could get emptied quickly
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I don't believe in squeezes in such a heavily manipulated and contrived market. This is just a delayed, token response to the decline in fiat currency value. I've waited a long time for 40, and I do not expect to see $50 in the next 4/5 years. $100 silver is a fantasy.
 
Correct, it is the golden rule. Plunketvis fine , myles was barred on a different thread insulting Val
 
The important thing is that silver was up nearly 2 dollars and held above 39. We have to wait 48 hours now to see if it can make a stab at $40. I think it can because, the news gets worse by the day, and the silver is bought by the day. I will buy some myself monday to do my bit
 
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If it goes through 40 on the futures contract then finally the shorts are in trouble imo. Today is Silver Monday
 
Declan said:
If it goes through 40 on the futures contract then finally the shorts are in trouble imo. Today is Silver Monday
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Silver goes up and down like a yo yo.
It's an industrial metal as much as a precious metal.
It's in a 30 35 dollars holding pattern for a while.
 
One dollar away from a fantastic short squeeze.
 
I bitcoin now equals 3128 ounces of silver, watch it drop down as silver does better.
 
Unsurprisingly, silver got beat down today but not too badly. It may continue into tomorrow and an inflation report then will impact the market. Fingers crossed.
 
Looks my like exit is delayed for now. I'm not shocked. We'll see if it happens before Christmas
 
At one point last night it looked like a breakout but instead failed so it has been a week of consolidation but at least it is holding 38.50 on the contract
 
After the pullback/beat down, I think silver gets above 40 on the contract this week
 
Declan said:
After the pullback/beat down, I think silver gets above 40 on the contract this week
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It's as much an industrial metal as a store of wealth.
Is the demand present?
 
I think it is about to become a liferaft. About a month ago, I got 25 eagles for a lad at $41 each. Today it takes 45. It would take nothing to send them over $50

IMG_3982.png
 
Another 66c and it hits $40
 
Another 48c and it hits $40.

I will be happy if it holds 39.50 to set up a target of 40 tomorrow
 
It closed at 39.66 and will reopen in a few moment for the over night session so I think it can break 40 here. If it does, every seller of the 40 strikes are losing money etc etc etc. This could be like that stock that was squeezed a few years ago that zoomed about a hundred times higher.
 
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