A really bad sign or a really good opportunity?

[Inor]

I saw a story about this referenced in RT about two weeks ago, but did not give it much thought at the time. If I had put 2+2 together and remembered the story from about 3 months ago when Russia fixed the Ruble to the price of gold at 5000 Rubles per gram, it would have set off a lot more alarm bells.

Now it is going to be a lot harder for the Dollar to compete outside of western Europe if the Ruble (and by extension, the Yuan, etc.) are tied to gold and we are not. This is VERY bad for the Dollar, but could be VERY good for gold.

https://quoththeraven.substack.com/p/russia-and-china-officially-announce

We've all known the US Dollar has been living on borrowed time for quite a while.

While we were sending too many billions of Dollars to Ukraine and imposing do nothing sanctions to hold off the "red threat" militarily, Putin and Xi may have been defeating us using nearly the exact same playbook Reagan and Thatcher used against the USSR.

[StratBastard]

I saw a story about this referenced in RT about two weeks ago, but did not give it much thought at the time. If I had put 2+2 together and remembered the story from about 3 months ago when Russia fixed the Ruble to the price of gold at 5000 Rubles per gram, it would have set off a lot more alarm bells.

Now it is going to be a lot harder for the Dollar to compete outside of western Europe if the Ruble (and by extension, the Yuan, etc.) are tied to gold and we are not. This is VERY bad for the Dollar, but could be VERY good for gold.

https://quoththeraven.substack.com/p/russia-and-china-officially-announce

We've all known the US Dollar has been living on borrowed time for quite a while.

While we were sending too many billions of Dollars to Ukraine and imposing do nothing sanctions to hold off the "red threat" militarily, Putin and Xi may have been defeating us using nearly the exact same playbook Reagan and Thatcher used against the USSR.

China has been buying and stockpiling metric tons of gold yearly for more than a decade now. The gold backed Yuan will be a game changer. meanwhile, we are rapidly losing the last tatters of our "petrodollar" status. Brazil, India, China, Russia, and others are trading in their own currencies for energy. Requiring these countries to stockpile dollars to purchase energy was the only leg propping up the otherwise worthless US paper/fiat dollar. I am ditching much of the dollars I currently hold for PM's as a hedge. Even though premiums are currently very high for gold and silver, a spot price of $18 on silver is very attractive right now.

[Mad Trapper]

I'm thinking of taking out retirement funds early as if the dollar crashes they will become worthless. Putting that into gold might be a good idea.

[StratBastard]

I'm thinking of taking out retirement funds early as if the dollar crashes they will become worthless. Putting that into gold might be a good idea.

Yep. I have about $200k sitting in a damned account making squat and losing value every month. In the recession of the 80's, you could put that in a certificate of deposit at 16%... pretty juicy. Today, with the Keynesian policies keeping interest rates absurdly low (so we can pay the interest on the national debt) you just lose purchasing power holding cash. I have other investments, but this pile of outright fiat cash is doing absolutely nothing at all for me. May as well hedge it. The premiums on Gold Eagles and Buffaloes is insane right now, so I'm thinking 80-85 1 ounce Krugerrands and Maple Leafs. And maybe some more silver... pretty good deals on buying 100 10 ounce bars right now. Even though the premiums raise the price at least $3.50 above spot (I used to buy silver at .89 cents above spot) still $21.50-$23 per ounce looks good. Wasn't long ago when silver was selling at $29. If the price drops again, I'm going in.

[MountainGirl]

Even though my take is far more pessimistic - I really appreciate this thread.

IF there was a reasonable way to carve off a bit to trade for a loaf of bread, gold or silver in the hand could be the way to go... but as it is, my wealth is ALL in where we live and what we have. I can't get my money out of the bank soon enough, lol, which is also why Ten Oaks was bought for cash, and ramped up so fast with builds, security, sustainables and barter goods.

Not needing the entire system is, for me, the ultimate prep.

[Prepared One]

I have been saying it for a while now, come this fall and winter your greenbacks may be of little use other then lighting a fire. China and Russia are maneuvering us over a cliff and the thieves in congress are too worried about lining their own pockets or are to stupid to see what's happening. (Joe Biden) By this fall and winter, I have a real bad feeling something wicked this way comes.

[Piratesailor]

The loss of the dollar as the global reserve would basically be the end of america. Period. We would then be nothing more than a third world country

[Inor]

The loss of the dollar as the global reserve would basically be the end of america. Period. We would then be nothing more than a third world country

Apparently you have not been to NYC or Chicago or California or numerous others recently... We are already a 3rd world country.

[Piratesailor]

LOL. Actually and unfortunately I’ve been to all those places. NYC, Shitcago and SF. But just imagine that in middle america. Everywhere. And everyone basically broke because the dollar is worth zero. Think Venezuela

[Inor]

So now The Shrew (Janet Yellen) is saying we are not in a recession (even though we have had 2 quarters of negative GDP growth - their own definition of a recession) because the unemployment rate is too low to be a recession.

https://www.foxbusiness.com/politics/treasury-sec-janet-yellen-acknowledges-economic-slowdown-downplays-recession

EXCEPT... The unemployment rate is a measure of the people that are TRYING to get a job but cannot. It does not include all the people that decided to just quit their jobs during the "great resignation" because it is a better option to be on the government dole.

So there you have it folks! The way to prevent all future recessions is we just need more lazy people! So go do your patriotic duty and sit around with your thumb up your ass!

[Broncosfan]

I feel silver and gold are a good holding as long as you do it wisely. I say this becasue if you buy eagles or and other uncirculated PM you will never recover the premium you paid for it if SHF situation. My Step-Dad bought 1/10 Gold Eagles a long with a PM ROTH. He lost his a**. Well really I did when I sold it. At the price he paid for it there was no way I could hold it long enough to recover his original investment. I have purchased 5 oz silver bars from JM Bullion before. If anyone has a better place to buy please share.

[StratBastard]

I feel silver and gold are a good holding as long as you do it wisely. I say this becasue if you buy eagles or and other uncirculated PM you will never recover the premium you paid for it if SHF situation. My Step-Dad bought 1/10 Gold Eagles a long with a PM ROTH. He lost his a**. Well really I did when I sold it. At the price he paid for it there was no way I could hold it long enough to recover his original investment. I have purchased 5 oz silver bars from JM Bullion before. If anyone has a better place to buy please share.

I have had great luck with APMEX in many transactions, both buying and selling. When I sold $80K of Krugs to them (to help my daughter with her first home purchase), they phoned to let me know there was an extra one in one of the tubes, and sent me more money than they quoted. I stuck with them after that... but always compare prices to JD and others.

As to selling the 1/10 gold coins: First, I always buy one ounce gold coins. The premiums on the smaller ones just shoots WAY WAY up. I think of the gold as a hedge, preserving wealth for later when and if the economy recovers... so I don't worry about having smaller, more incremental gold coins. The silver is for bartering if that ever comes up at all.

As to Gold eagles, I stopped buying them a few years ago, because the premiums on them too was much higher that a Maple Leaf or a Krug. Even though the Krug has a full ounce of gold, it is meant to be in circulation... so it weighs in at 1.08 ounces with .08 copper added to harden it somewhat. Lots of folks (especially in Asia) like only the .9999 gold, so then the Maple leaf would be the choice. I buy both.

Ordered 100 ten ounce bars of silver yesterday. I already have plenty of smaller bars and coins/rounds. Came to $23,130. It was at $29 not two years ago, and I just don't see it staying here long. I'm getting out of the dollar for awhile as much as I reasonably can. If gold drops just another 20 bucks or so, I'll be ordering some.

[Inor]

The Shrew says no recession. Brandon's lesbian spoda press-chick says no recession. But the data says we are already in a recession. Who are you going to believe?

People are sure acting like we are in a recession. The last time Netflix, Hulu and Disney did their earnings calls they all reported losing subscribers, a LOT of subscribers. When money is tight, people immediately cut back on entertainment. But that could also be explained away as people getting sick of just dealing with "woke" companies. (If it were happening in a vacuum.)

But now we have this...

https://finance.yahoo.com/news/cash-strapped-americans-cant-afford-110000650.html

In the modern economy, we NEED to have cell phones and connectivity. That is just a sad fact. The gist of the linked story is basically that people are paying their ATT cell phone bill 2 days slower this month than last. It does not sound like much, but this is a BIG deal. They have to keep their phone active, so if they are paying slower, even just 2 days slower, it is happening for a reason.

I am not invested much in stocks right now, so normally I would not care about all the earnings calls happening this coming week. But I think I am going to follow them a bit closer than I normally would just because I think it will be fun to watch and see how big of a pile of dog shit The Shrew stepped in this morning when she said there is no recession.

[StratBastard]

The Shrew says no recession. Brandon's lesbian spoda press-chick says no recession. But the data says we are already in a recession. Who are you going to believe?

People are sure acting like we are in a recession. The last time Netflix, Hulu and Disney did their earnings calls they all reported losing subscribers, a LOT of subscribers. When money is tight, people immediately cut back on entertainment. But that could also be explained away as people getting sick of just dealing with "woke" companies. (If it were happening in a vacuum.)

But now we have this...

https://finance.yahoo.com/news/cash-strapped-americans-cant-afford-110000650.html

In the modern economy, we NEED to have cell phones and connectivity. That is just a sad fact. The gist of the linked story is basically that people are paying their ATT cell phone bill 2 days slower this month than last. It does not sound like much, but this is a BIG deal. They have to keep their phone active, so if they are paying slower, even just 2 days slower, it is happening for a reason.

I am not invested much in stocks right now, so normally I would not care about all the earnings calls happening this coming week. But I think I am going to follow them a bit closer than I normally would just because I think it will be fun to watch and see how big of a pile of dog shit The Shrew stepped in this morning when she said there is no recession.

It IS a big deal. People paying their bill on average 2 days slower means they are juggling bills. Juggling bills means they are financially stressed. It's only going to get worse of course.

[Slippy]

Excellent points, ALL!

What continues to amaze me is that MOST people that I interact with (not close friends but those who I have to interact with regularly or often) are PHUCKING CLUELESS!

They are clueless, they don't care, hell, they don't care to know! They vote for security or for the nice looking candidate who says the "right things" and immediately after their vote, that candidate goes back to DC and systematically continues his assault on freedom and his quest for socialism/communism.

And the useful/useless idiots continue to hop about like aimless grasshoppers. Meanwhile, I continue to make mental notes on the fools who year after year, say the same dumbass shit to me and Mrs S..."if it gets bad, we're coming to your place"

:grim: Lets see how that works out for most of them...:grim:

[Jester-ND]

I have had great luck with APMEX in many transactions, both buying and selling. When I sold $80K of Krugs to them (to help my daughter with her first home purchase), they phoned to let me know there was an extra one in one of the tubes, and sent me more money than they quoted. I stuck with them after that... but always compare prices to JD and others.

As to selling the 1/10 gold coins: First, I always buy one ounce gold coins. The premiums on the smaller ones just shoots WAY WAY up. I think of the gold as a hedge, preserving wealth for later when and if the economy recovers... so I don't worry about having smaller, more incremental gold coins. The silver is for bartering if that ever comes up at all.

As to Gold eagles, I stopped buying them a few years ago, because the premiums on them too was much higher that a Maple Leaf or a Krug. Even though the Krug has a full ounce of gold, it is meant to be in circulation... so it weighs in at 1.08 ounces with .08 copper added to harden it somewhat. Lots of folks (especially in Asia) like only the .9999 gold, so then the Maple leaf would be the choice. I buy both.

Ordered 100 ten ounce bars of silver yesterday. I already have plenty of smaller bars and coins/rounds. Came to $23,130. It was at $29 not two years ago, and I just don't see it staying here long. I'm getting out of the dollar for awhile as much as I reasonably can. If gold drops just another 20 bucks or so, I'll be ordering some.

I agree!! I order from JM.. the premiums are stupid!!! I did order some 10oz silver poured bars they had on sale a bit ago.. Watching that gold drop is REALLLLY tempting.

What makes no sense to me is, PM's are usually tied to the dollar.. usually one drops, the other rises.. Why is Gold dropping? did we fool some idiots into thinking the dollar is strong now?

[Jester-ND]

I solved my gold-bug constant trading by signing up for cybermetals when JM launched it... they were allowing you to buy silver @ spot... granted they have premiums now, and trade fees (not to mention prices heavily dropped since launch).. not heavily invested there, but gives me my trading fix.. especially the volatile swings in palladium!

[StratBastard]

I agree!! I order from JM.. the premiums are stupid!!! I did order some 10oz silver poured bars they had on sale a bit ago.. Watching that gold drop is REALLLLY tempting.

What makes no sense to me is, PM's are usually tied to the dollar.. usually one drops, the other rises.. Why is Gold dropping? did we fool some idiots into thinking the dollar is strong now?

That's a good question. It makes no sense at all... unless it's being engineered. The trading of silver on the commodities market has been engineered for the last ten years to keep the cost of that commodity down. And most of what is traded daily is paper silver: shares in mines, in futures, etc.... about 100 ounce of paper silver promises traded for every actual ounce of silver. Does that create the illusion of an abundance of silver? Keep the price down, so the music keeps going in the booming electronics industries? Because we only pull like 800K ounces out of the ground a year... and it is all spoken for ahead of time for the electronics/voltaic industries. Add to that that historically sliver and gold averaged a 15/1 ratio... now it's currently what... 85/1???? And let's all remember just WHO sets spot price every day.

[StratBastard]

Watching that gold drop is REALLLLY tempting.

Yeah, it's close to going under 1700 spot. At which point I may load into 60 ounces. My dollars are just evaporating under inflation. I'll hang onto the hard asset investments, but some of that paper has to go.

[Inor]

That's a good question. It makes no sense at all... unless it's being engineered. The trading of silver on the commodities market has been engineered for the last ten years to keep the cost of that commodity down. And most of what is traded daily is paper silver: shares in mines, in futures, etc.... about 100 ounce of paper silver promises traded for every actual ounce of silver. Does that create the illusion of an abundance of silver? Keep the price down, so the music keeps going in the booming electronics industries? Because we only pull like 800K ounces out of the ground a year... and it is all spoken for ahead of time for the electronics/voltaic industries. Add to that that historically sliver and gold averaged a 15/1 ratio... now it's currently what... 85/1???? And let's all remember just WHO sets spot price every day.

Margin calls on everything else. Gold especially, even when it moves a lot dollar wise, it is not a lot percentage wise. So when your broker calls needing a $50K deposit by lunch to cover a margin call, dumping paper gold is usually the fastest and cheapest way to do it. The same thing happened in '08. When PMs stop moving in tandem with the S&P and start moving opposite we will be pretty close to the end of margin mania on stocks. Then we should see a quick jump in PMs and crypto.

[StratBastard]

Even though my take is far more pessimistic - I really appreciate this thread.

IF there was a reasonable way to carve off a bit to trade for a loaf of bread, gold or silver in the hand could be the way to go... but as it is, my wealth is ALL in where we live and what we have. I can't get my money out of the bank soon enough, lol, which is also why Ten Oaks was bought for cash, and ramped up so fast with builds, security, sustainables and barter goods.

Not needing the entire system is, for me, the ultimate prep.

There IS a reasonable way to carve off small amounts of silver for small trades... have a lot of silver dimes and quarters in the silver stash. However, I have my serious doubts about silver and gold being bartered for goods and services... which is sometimes an unpopular opinion among other gold/silver bugs. Ever see any of those Youtube videos, where a guy walks around offering either a ten ounce bar of silver, or a Hershey's chocolate bar? They take the candy every time. 99.999% of the population knows NOTHING about gold and silver, have NO idea of its value, and are not impressed when offered some. Same guy walked around trying to sell a gold eagle (worth like $1700 at the time) for $50 and no takers. I don't think that will change overnight because of a SHTF scenario. People will value goods even MORE highly, be DESPERATE for them, and will not trade for anything like PM's. So, my PM's are to preserve the purchasing power until an economic/currency collapse passes. PM's are the LAST thing to buy... and only if you still have a pile of fiat dollars left over after already prepping to sustain yourself for a few years. I am fully prepped, and still in the position of holding too many rapidly devaluing dollars for my comfort.


"Not needing the entire system is, for me, the ultimate prep." Yep. That's first and foremost

[StratBastard]

And to add fuel to the fire of the dollar in crisis... BRICS, as it turns out, is NOT going away. I gotta dump more paper...

https://gsiexchange.com/russia-and-china-challenge-the-u-s-dollars-global-reserve-status/?fbclid=IwAR26g32jEWg22ql1j7U0kTC62IZiPp6aiWjjSZ2H Sm-ThvOhLIyZaYt3oQY

19321

[TJC44]

There IS a reasonable way to carve off small amounts of silver for small trades... have a lot of silver dimes and quarters in the silver stash. However, I have my serious doubts about silver and gold being bartered for goods and services... which is sometimes an unpopular opinion among other gold/silver bugs. Ever see any of those Youtube videos, where a guy walks around offering either a ten ounce bar of silver, or a Hershey's chocolate bar? They take the candy every time. 99.999% of the population knows NOTHING about gold and silver, have NO idea of its value, and are not impressed when offered some. Same guy walked around trying to sell a gold eagle (worth like $1700 at the time) for $50 and no takers.

DAMN! How come nobody ever makes ME those offers!?! :thinking:

[StratBastard]

DAMN! How come nobody ever makes ME those offers!?! :thinking:

I know, right?!?

[StratBastard]

Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency

19324

https://news.bitcoin.com/targeting-the-us-dollars-hegemony-russia-china-and-brics-nations-plan-to-craft-a-new-international-reserve-currency/?fbclid=IwAR1lKNjMxwyvovnz0CEzNROOtK-a4MHya-_vJ5vfoLzenSJWNUJQ7Bepqvo

[Inor]

Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency

19324

https://news.bitcoin.com/targeting-the-us-dollars-hegemony-russia-china-and-brics-nations-plan-to-craft-a-new-international-reserve-currency/?fbclid=IwAR1lKNjMxwyvovnz0CEzNROOtK-a4MHya-_vJ5vfoLzenSJWNUJQ7Bepqvo

Yep. And the Fed and the US government either do not care or, more likely, are too stupid to recognize the Dollar is not the only game in town and it is entirely possible that it will falter in the not-too-distant future.

The good news for us, however, is that individuals can see past the Fed's lies and the government stupidity and make a hell of a lot of money when this happens. Keep your powder dry and get the hell out of fiat!

[Jester-ND]

DAMN! How come nobody ever makes ME those offers!?! :thinking:

those are the same city-ots that only have 3 meals worth of food @ home...... we prep...... and know things....

[StratBastard]

Gold went back up from $1724 to $1777 in a few days. Silver up $2. The 1000 ounces of silver I ordered appreciated by $1800 while on the UPS truck. Should arrive tomorrow.

[MountainGirl]

Gold went back up from $1724 to $1777 in a few days. Silver up $2. The 1000 ounces of silver I ordered appreciated by $1800 while on the UPS truck. Should arrive tomorrow.

Maybe you should leave it on the truck?
:jester:

[StratBastard]

Maybe you should leave it on the truck?
:jester:

Well, that's a thought LOL.

[Jester-ND]

Gold went back up from $1724 to $1777 in a few days. Silver up $2. The 1000 ounces of silver I ordered appreciated by $1800 while on the UPS truck. Should arrive tomorrow.

I got in on the Gold around $1740.... the opposite is usually what happens to me. I buy in and you can put a price drop in the next few days on the board for me!

[Jester-ND]

I did sell almost 2/3 of my silver stash @ $32/oz though......

[StratBastard]

I got in on the Gold around $1740.... the opposite is usually what happens to me. I buy in and you can put a price drop in the next few days on the board for me!

$1787 today You made more than half of your premium back... that's a great start already. I'm still ass chapped I didn't go in on gold at $1727. But I made about half my premium back in 5 or 6 days on the 1000 ounces of silver.

[StratBastard]

Gold hits $1800 today.

[Inor]

Gold hits $1800 today.

Yep!

If I had to guess, I think gold has 1-2 more legs down as the larger economy continues to blow up before gold goes off to the races. I am thinking it might even touch $1650 again in the next few months as speculators are forced to liquidate again when the SHTF for the next round of big losses. Then, hang on! I would not be surprised to see $3000 by the end of 2023.

Great strategy Strat!!!

[StratBastard]

Yep!

If I had to guess, I think gold has 1-2 more legs down as the larger economy continues to blow up before gold goes off to the races. I am thinking it might even touch $1650 again in the next few months as speculators are forced to liquidate again when the SHTF for the next round of big losses. Then, hang on! I would not be surprised to see $3000 by the end of 2023.

Great strategy Strat!!!

Gold at $1789 today, silver at $20.50. I'm watching for $1720 again... then I'll pull the trigger. Still have far too many fiat dollars for my comfort, and may well end up using them for wallpaper.

[Jester-ND]

Gold at $1789 today, silver at $20.50. I'm watching for $1720 again... then I'll pull the trigger. Still have far too many fiat dollars for my comfort, and may well end up using them for wallpaper.

it's creepin that way.....

[Big Ken]

it's creepin that way.....

Silver closed under $20, when's the last time that's happened?

[StratBastard]

Silver closed under $20, when's the last time that's happened?

About a 6 weeks or so ago when I bought at $18.30. With premiums as high as they are now, that's my current price point. Gold dropped to $1758 today, I'm watching for $1720...

[Big Ken]

Gold 1748.30 -10.90 0.00%
silver 19.11 -0.50 0.00%

[StratBastard]

Gold and silver internationally... this is coming folks, watch BRICS closely.

Russia Proposes Its Own International Standard for Precious Metals

https://gsiexchange.com/russia-proposes-its-own-international-standard-for-precious-metals/?fbclid=IwAR2F2GTp5gkjMeqBMDQYYGUx1pnyuQUPTKrrrEIu O7NBsNpYZ7wFJoQrc7E

[StratBastard]

Gold $1747 today... nice drop.

[Inor]

Gold $1747 today... nice drop.

Nice drop indeed! The DOW was off 1000 today also. So gold still has more to fall before the bottom.

When gold has a down day at the same time as stocks have a really bad day, it usually means the stock traders are dumping paper gold/silver to cover their positions in the stock market. The same thing happened in late 2008.

September starts next week boys and girls! I expect the next two months are probably going to be really bloody. Look for the day when stocks have a big down day and gold/silver hold steady or even rise a little. Then you will know the hedge funds have dumped all the PMs they can and it is time to dive in with both feet!

[StratBastard]

$1743.50 today. I'm liking this trend.

[StratBastard]

Gold $1731.30 still dropping. Silver $18.77.

[Inor]

Gold $1731.30 still dropping. Silver $18.77.

I know you said you have a lot of silver and are focusing your attention on gold moving forward. Just something to consider, not financial advice... With the new green dream bullshit that Brandon signed last week, silver demand is going to skyrocket in the coming months and years. Every one of those solar panels and electric cars requires a bunch of silver and copper...

It might be worth doing some homework and reassessing if putting back some more might be a good idea. (Or the gubmint could come along and ban private ownership of it since it is so necessary for the "public good". They have done it before.)

[Prepared One]

Why do I have this feeling it's going to get really ugly going into November and right after?

[StratBastard]

I know you said you have a lot of silver and are focusing your attention on gold moving forward. Just something to consider, not financial advice... With the new green dream bullshit that Brandon signed last week, silver demand is going to skyrocket in the coming months and years. Every one of those solar panels and electric cars requires a bunch of silver and copper...

It might be worth doing some homework and reassessing if putting back some more might be a good idea. (Or the gubmint could come along and ban private ownership of it since it is so necessary for the "public good". They have done it before.)

Oh, you don't have to sell me on silver. Gold is a hedge, but one can make a salient argument that silver is an investment: 1) consider the amount of paper silver traded on the market, keeping the price down by making it appear abundant. 2) Historical gold to silver ratio 15-1, current absurd ratio 85-1. 3) About 850,000 ounces mined yearly, all spoken for by the electronics industry (as you mention) beforehand. 4) Testimonials from actual mine owners who feel the market is manipulated... many considering a continuation of silver mining, but halting sales until the price comes up to reasonable. I have secure storage issues with silver, as many do... it is heavy and bulky in large amounts. But when I resolve that, yes I just may load into more at the right price.

[Jester-ND]

I took the bait and got back in on more gold @ 1731 around 1810 with premiums... if silver pushes to $17 I may wade in up to my neck there too...

[StratBastard]

I took the bait and got back in on more gold @ 1731 around 1810 with premiums... if silver pushes to $17 I may wade in up to my neck there too...

I am currently a gold and silver minnow wriggling on the knife's edge. Spot on both are very attractive today... and Ampex is having a "sale" (HA! The premiums are still ridiculous) on the 10 ounce poured bars @ $227 all in. That's $22,700 for another 1000 ounces. :maninlove:

[Jester-ND]

yea.... premiums are stupid..... still..

[StratBastard]

Gold and silver seem to be dropping s smidgen every half hour today: $1719.80 gold, $18.23 silver.

[Broncosfan]

I am currently a gold and silver minnow wriggling on the knife's edge. Spot on both are very attractive today... and Ampex is having a "sale" (HA! The premiums are still ridiculous) on the 10 ounce poured bars @ $227 all in. That's $22,700 for another 1000 ounces. :maninlove:

Silver is silver right? As far as a poured bar vs? The pour bars don't look to be as refined. I bought from JM Bullion a while back. I think I got Silver Towne 5oz bars. If it keeps dropping I think I will go to 100oz bars next

[StratBastard]

Silver is silver right? As far as a poured bar vs? The pour bars don't look to be as refined. I bought from JM Bullion a while back. I think I got Silver Towne 5oz bars. If it keeps dropping I think I will go to 100oz bars next

Yes, .999 silver is the same silver poured or pressed. The poured bars look rougher, but are the same purity. The pressed ones look more polished is all. I hope you meant you were going to 10 ounce bars rather than 100: the 100 ouncers aren't as liquid. The 10 ouncers have a lower overall premium than the 5. I buy mostly 10 ouncers. Silver dropped to $17.99 today... but the premiums are still high.

[Jester-ND]

These 10 oz bars are what I have the most of....

https://www.jmbullion.com/10-oz-silvertowne-american-flag-silver-bar/

I like the flag look!!

have a bunch of 1 oz too (luckily I bought those @ $12 when the premiums weren't stupid)
and a couple of 100oz that I use for flipping for gold when the gap is crazy and I sell it back to JM. sold em 2 when silver was @ $32, then sit on the cash and buy when price drops and pick up a couple extra oz bars and some fractional gold.. repeat.. eventually end up with bunch of extra metal and only out the original investment cost.

[StratBastard]

Wow... gold drops to $1705 today. I hope Inor's prediction of $1650 turns out. If so, we'll all have to chip in and send him a prognosticator's beanie. :hail: :bigboss:

[Jester-ND]

Margin calls on everything else. Gold especially, even when it moves a lot dollar wise, it is not a lot percentage wise. So when your broker calls needing a $50K deposit by lunch to cover a margin call, dumping paper gold is usually the fastest and cheapest way to do it. The same thing happened in '08. When PMs stop moving in tandem with the S&P and start moving opposite we will be pretty close to the end of margin mania on stocks. Then we should see a quick jump in PMs and crypto.

Well.. today is the first time in a while I have seen a divergence in gold and the market dow and S&P up bigly while PMs down.....

[Inor]

Well.. today is the first time in a while I have seen a divergence in gold and the market dow and S&P up bigly while PMs down.....

The markets are absolutely insane right now. There is a lot that seems completely irrational happening every day right now.

Stocks are sinking a lot slower than I expected. September was about like I expected but October has started off looking NOTHING like what I expected. I was thinking October would be a fast crash with the DOW ending somewhere around 22K-23K. It still could, but these big up bounces on bad news make no sense to me. It is starting to look like the big slide is going to hold off until after the election and maybe even until after Christmas shopping. It cannot hold on much beyond that I do not think.

Bonds are playing out about as expected - falling hard. But what is throwing me with bonds is why aren't retail investors rushing to buy into them now that interest rates are coming up? Possibly hedge funds have decided to hang onto the bonds they already owned at 1/2% because 1/2% guaranteed gain is better than a 10% loss? Maybe retail investors just do not have the free cash to save anything right now? This should be a time when folks with any free cash flow at all would be dumping every penny of it into guaranteed interest things. That is mostly not happening yet.

Bitcoin is another one that I expected to fall quicker and further than it has. I still think it will, but that will obviously take a lot more time than I expected.

But as far as PMs are concerned, it seems they are just bouncing around waiting for stocks and bonds to pick a direction before they take off. As slow as all this is playing out, PMs might continue to have big bouncy days up and down, or possibly even another leg down until next spring?

Crazy times, but it is a great time to collect price movement data and try to spot relationships for future use. The crashes in '98, 01-02 and 08-09 all followed the same basic pattern. This one seems completely different.

[Slippy]

The only investment I plan on making today is 1100 rounds of 10mm ammo. That counts as an investment, right? :callme:

[MountainGirl]

The only investment I plan on making today is 1100 rounds of 10mm ammo. That counts as an investment, right? :callme:

Hope so, lol
We picked up 2500 last week.

[Prepared One]

The markets are absolutely insane right now. There is a lot that seems completely irrational happening every day right now.

Stocks are sinking a lot slower than I expected. September was about like I expected but October has started off looking NOTHING like what I expected. I was thinking October would be a fast crash with the DOW ending somewhere around 22K-23K. It still could, but these big up bounces on bad news make no sense to me. It is starting to look like the big slide is going to hold off until after the election and maybe even until after Christmas shopping. It cannot hold on much beyond that I do not think.

Bonds are playing out about as expected - falling hard. But what is throwing me with bonds is why aren't retail investors rushing to buy into them now that interest rates are coming up? Possibly hedge funds have decided to hang onto the bonds they already owned at 1/2% because 1/2% guaranteed gain is better than a 10% loss? Maybe retail investors just do not have the free cash to save anything right now? This should be a time when folks with any free cash flow at all would be dumping every penny of it into guaranteed interest things. That is mostly not happening yet.

Bitcoin is another one that I expected to fall quicker and further than it has. I still think it will, but that will obviously take a lot more time than I expected.

But as far as PMs are concerned, it seems they are just bouncing around waiting for stocks and bonds to pick a direction before they take off. As slow as all this is playing out, PMs might continue to have big bouncy days up and down, or possibly even another leg down until next spring?

Crazy times, but it is a great time to collect price movement data and try to spot relationships for future use. The crashes in '98, 01-02 and 08-09 all followed the same basic pattern. This one seems completely different.

I have been watching the markets and your right, it's all over the freakin place and although I know it will come crashing down, like you, I figured we would be seeing it by now. It's hard to gauge right now. Maybe another month or two will tell the tail.

I have mixed emotions on this really. Part of me wants it to go to hell before the midterms next month to help insure the total inhalation of the POS dems Nov. 8th. On the other hand, I still have a pile of money in the market and would like to hold off moving money till after the first of the year for tax purposes.

On a positive note, I got my first SS retirement check this month so I am getting some of my damn money back at least. :getdown:

[Prepared One]

Hope so, lol
We picked up 2500 last week.

I consider it an investment in our future babe. :thumb:

[Jester-ND]

I have been watching the markets and your right, it's all over the freakin place and although I know it will come crashing down, like you, I figured we would be seeing it by now. It's hard to gauge right now. Maybe another month or two will tell the tail.

I have mixed emotions on this really. Part of me wants it to go to hell before the midterms next month to help insure the total inhalation of the POS dems Nov. 8th. On the other hand, I still have a pile of money in the market and would like to hold off moving money till after the first of the year for tax purposes.

On a positive note, I got my first SS retirement check this month so I am getting some of my damn money back at least. :getdown:

I still don't believe there will be a fair election, but if there is, and gop wins, the markets can tank (because we all see it heading that way) and dems can blame it on republicans.

[Inor]

I still don't believe there will be a fair election, but if there is, and gop wins, the markets can tank (because we all see it heading that way) and dems can blame it on republicans.

They are already trying to do that. Biden is already saying that inflation (which he previously said we do not have) will get much worse if we elect republicans. I'm not sure how that works... Do we not have inflation now but we will if the GOP wins? Or is he saying we DO have some inflation now but if the GOP wins and they spend less money the inflation is going to get worse?

Whatever he is saying, I took it as an admission that he believes the. republicans will win by large enough margins that they will not be able to cheat their way out of it.

[StratBastard]

I have been watching the markets and your right, it's all over the freakin place and although I know it will come crashing down, like you, I figured we would be seeing it by now. It's hard to gauge right now. Maybe another month or two will tell the tail.

I have mixed emotions on this really. Part of me wants it to go to hell before the midterms next month to help insure the total inhalation of the POS dems Nov. 8th. On the other hand, I still have a pile of money in the market and would like to hold off moving money till after the first of the year for tax purposes.

On a positive note, I got my first SS retirement check this month so I am getting some of my damn money back at least. :getdown:

Awesome on the SS checks... your money stolen, now returned incrementally. I myself receive two federal pensions, and they have to pay me as long as I keep breathing. I'm gonna live to 110 just out of spite.

[1skrewsloose]

They are already trying to do that. Biden is already saying that inflation (which he previously said we do not have) will get much worse if we elect republicans. I'm not sure how that works... Do we not have inflation now but we will if the GOP wins? Or is he saying we DO have some inflation now but if the GOP wins and they spend less money the inflation is going to get worse?

Whatever he is saying, I took it as an admission that he believes the. republicans will win by large enough margins that they will not be able to cheat their way out of it.

Biden saying the recession will be slight, is like saying someone is only a little bit pregnant.

[1skrewsloose]

Let's face it it, the Dem are shitting their pants cause they won't be in power after 2022/2024.God is good!!!

[Inor]

Awesome on the SS checks... your money stolen, now returned incrementally. I myself receive two federal pensions, and they have to pay me as long as I keep breathing. I'm gonna live to 110 just out of spite.

You follow gold closely, so you might know more about this...

I read somewhere today (and I cannot re-find the story to save my soul), they found some MASSIVE gold deposit in Uganda recently? I may have this wrong, but I think the article was saying it could be as much as a $12 TRILLION find and China was going to develop the find?!? Since right now, all the known gold in the world is only about $11.2 trillion, that would be huge. Have you heard anything like that?

Sorry I do not have any better info than that. I tried to re-find the story but cannot.

[StratBastard]

You follow gold closely, so you might know more about this...

I read somewhere today (and I cannot re-find the story to save my soul), they found some MASSIVE gold deposit in Uganda recently? I may have this wrong, but I think the article was saying it could be as much as a $12 TRILLION find and China was going to develop the find?!? Since right now, all the known gold in the world is only about $11.2 trillion, that would be huge. Have you heard anything like that?

Sorry I do not have any better info than that. I tried to re-find the story but cannot.

No, I have heard no news on this. But definitely am going to look into it. There were times in history where huge discoveries of silver deposits changed the market value significantly. A glut of new gold would do the same. Thanx for the tip Inor!

[Jester-ND]

You follow gold closely, so you might know more about this...

I read somewhere today (and I cannot re-find the story to save my soul), they found some MASSIVE gold deposit in Uganda recently? I may have this wrong, but I think the article was saying it could be as much as a $12 TRILLION find and China was going to develop the find?!? Since right now, all the known gold in the world is only about $11.2 trillion, that would be huge. Have you heard anything like that?

Sorry I do not have any better info than that. I tried to re-find the story but cannot.

https://www.mining-technology.com/analysis/uganda-gold-deposit-investment/

[Prepared One]

Let's face it it, the Dem are shitting their pants cause they won't be in power after 2022/2024.God is good!!!

Yes, but I fear the damage is done and, are the republicans really that much better? Let us not forget the socialist bureaucracy already heavily entrenched and the ABC agencies who are not answerable to anyone.

[StratBastard]

Gold dropping again, down to $1643 today... with silver not coming along for the ride and stable $19.46.

[Jester-ND]

I still cannot believe the premiums.... I like to buy gram gold bars for the kids stockings.. but @ $80/gram its stupid... when spot is $53/gram... looks like silver bars again!

[StratBastard]

Gold spikes to $1807 today, and silver at $23.43.

[StratBastard]

New bill introduced in Missouri to re-monetize gold and silver. Senate bill 100...



https://www.youtube.com/watch?v=M1aTJ0ZFxLE

[MountainGirl]

New bill introduced in Missouri to re-monetize gold and silver. Senate bill 100...

https://www.youtube.com/watch?v=M1aTJ0ZFxLE

Missouri aint the only one - and it's a flood, for sure.

Kansas.

https://gizadeathstar.com/2023/02/kansas-joins-the-bullion-as-legal-tender-flood-scenarios/

[StratBastard]

More US States Act to RECLAIM Silver & Gold as MONEY


https://www.youtube.com/watch?v=546Sq8QFJyE

[TJC44]

I'm trying to figure out how the individual states can do something like that, when the dollar is controlled by the Fed.

Someone help me.

[Inor]

I'm trying to figure out how the individual states can do something like that, when the dollar is controlled by the Fed.

Someone help me.

The states (or anybody else you are doing business with for that matter) can choose to accept anything they want for payment of debt. The only thing that is required is they MUST accept Federal Reserve Notes because they are "legal tender".

What would be really fun to watch is what happens if/when a state decides they will no longer allow you to pay tax with Federal Reserve Notes. To my knowledge, the Federal Reserve Act has never really been seriously challenged in court. THAT would be fun to watch! All democrats and most most republicans heads would absolutely explode if it was ever tried.

[StratBastard]

Silver down to 20.26 tonight... starting to look attractive again. Gold still too high.

[Chiefster23]

There is a crazy premium on 1 Oz. US silver eagles. 10$ today on JM Bullion. But 1 Oz silver rounds are much much cheaper. So what do you think of buying the silver rounds vs the silver eagles?

[Jester-ND]

There is a crazy premium on 1 Oz. US silver eagles. 10$ today on JM Bullion. But 1 Oz silver rounds are much much cheaper. So what do you think of buying the silver rounds vs the silver eagles?

I picked up some silver rounds the other day.. They were on sale @ JM so I could stomach the premiums.

[Jester-ND]

$23.75/oz with premiums right now...

[Jester-ND]

Silver down to 20.26 tonight... starting to look attractive again. Gold still too high.

that gap has been widening steadily..

[StratBastard]

There is a crazy premium on 1 Oz. US silver eagles. 10$ today on JM Bullion. But 1 Oz silver rounds are much much cheaper. So what do you think of buying the silver rounds vs the silver eagles?

I don't buy Eagles. I used to buy gold Eagles, but then the premium on them shot way up too. A Krugerrand, on the other hand, can be had for a much more modest premium, and are well known around the world as gold. Maple Leafs are nice when on sale. I buy mostly silver bars, but have a pretty good stack of rounds too. A lot of the industry push and advertising centers around silver Eagles because it is American, and so many newbies are buying them up they can ask almost whatever they want... it's the newbies driving that high premium IMO. Ditto junk silver: they were once a bargain, and now too are high in premiums... also from advertising them as "constitutional silver" to newbies. Silver is silver. I buy only according to melt value/spot.

[Jester-ND]

gold pushing to 2k... and that silver gap just keeps growing!

[Slippy]

Let me tell all y'all; The difference in me and y'all real smart financial mo-fo's is that

You know shit that MAKES YOU MONEY!

I know shit that MAKES ME SPEND MONEY!

:beathead:

[MountainGirl]

Let me tell all y'all; The difference in me and y'all real smart financial mo-fo's is that

You know shit that MAKES YOU MONEY!

I know shit that MAKES ME SPEND MONEY!

:beathead:

Ohhh I wouldn't envy it too much, Sir Slippy.

My understanding, though I can easily be wrong and probably am, is that the reason to buy gold and silver - is for investment purposes. Not to carve off a chunk to trade for some bread or swap it for some seeds or bullets... but it's an investment for AFTER everything stabilizes - and monies are traded normally again!

Which would be a grand thing indeed to have happen! Yet with the new FedNow system - all those lovely pieces of precious metal will need to be fed into their FedNow accounts in the Nationalized Federal Bank - where, yes, their value will be recognized - right along with what is being purchased with them, if they're allowed.

:biglaugh:

[StratBastard]

Ohhh I wouldn't envy it too much, Sir Slippy.

My understanding, though I can easily be wrong and probably am, is that the reason to buy gold and silver - is for investment purposes. Not to carve off a chunk to trade for some bread or swap it for some seeds or bullets... but it's an investment for AFTER everything stabilizes - and monies are traded normally again!

Which would be a grand thing indeed to have happen! Yet with the new FedNow system - all those lovely pieces of precious metal will need to be fed into their FedNow accounts in the Nationalized Federal Bank - where, yes, their value will be recognized - right along with what is being purchased with them, if they're allowed.

:biglaugh:

Yes, it will still be a commodity and not considered money under this new paradigm. It will be revalued in digital currency rather than dollars. Upon selling, one eventually will only obtain DC.

The fly in that ointment: BRICS is still very hard at work putting together a new gold-backed currency, and they have the gold reserves to do it after stockpiling for the last 10 years. It remains to be seen if a new DC can compete globally with their new currency. I personally think it can't. Seems to me this is the very WORST time for the U.S. to try this experiment, in light of that robust challenge. The tin foil hatter in me suspects this is just another way to tank everything for good.

[MountainGirl]

Yes, it will still be a commodity and not considered money under this new paradigm. It will be revalued in digital currency rather than dollars. Upon selling, one eventually will only obtain DC.

The fly in that ointment: BRICS is still very hard at work putting together a new gold-backed currency, and they have the gold reserves to do it after stockpiling for the last 10 years. It remains to be seen if a new DC can compete globally with their new currency. I personally think it can't. Seems to me this is the very WORST time for the U.S. to try this experiment, in light of that robust challenge. The tin foil hatter in me suspects this is just another way to tank everything for good.

I dont think that qualifies for tin foil whatsoever.

Hmmm... I wonder if the States, who already have and/or will be, remonetizing gold and silver have anything to play in here.
What a hoot that would be! PMs being the counter to DC - with their values pegged to BRICS-folks' levels.

Whatever happened to the rule (law?) that private citizens could only possess so much gold? I really need to read up on all this. :D

[Prepared One]

Let me tell all y'all; The difference in me and y'all real smart financial mo-fo's is that

You know shit that MAKES YOU MONEY!

I know shit that MAKES ME SPEND MONEY!

:beathead:

I am with you, I am really, really, good at spending money.

[StratBastard]

I dont think that qualifies for tin foil whatsoever.

Hmmm... I wonder if the States, who already have and/or will be, remonetizing gold and silver have anything to play in here.
What a hoot that would be! PMs being the counter to DC - with their values pegged to BRICS-folks' levels.

Whatever happened to the rule (law?) that private citizens could only possess so much gold? I really need to read up on all this. :D

I had forgotten that little tidbit! I think you make maybe the best point on this issue: that states deciding on their own to use PM's as money could also derail the plans to eliminate cash and private transactions. It would be even better if they decided to mint their own coins standardized state-by-state, like the Colonies used to. The feds will declare it illegal, the states will claim state rights.

[MountainGirl]

I had forgotten that little tidbit! I think you make maybe the best point on this issue: that states deciding on their own to use PM's as money could also derail the plans to eliminate cash and private transactions. It would be even better if they decided to mint their own coins standardized state-by-state, like the Colonies used to. The feds will declare it illegal, the states will claim state rights.

Now that would be fun to watch. :bounce:

[StratBastard]

10 ounce silver bars finally below $300 @ $287 today... spot @ $24.23. I was thinking there might be a selloff, with people taking their profits, and a price drop. Still a ways to go yet... I bought my last ones (and not that long ago) @ $231. Gold still out in orbit @ $2023 an ounce.

[Jester-ND]

under 2800 for 100 oz.... I agree it is looking tasty even with the ridiculous premiums!

[StratBastard]

under 2800 for 100 oz.... I agree it is looking tasty even with the ridiculous premiums!

It's encouraging for sure... still too high. On the other hand, maybe it will never come down again. I'm ready to grab another 2000 ounces if it hits $25, all in. I'm hoping the profit-taking selloff will drop it that far. We'll see. Meantime, I'm still kicking myself in the nuts daily for only buying 1000 ounces @ $231.

:groinkick:

I don't buy anything larger than ten ounces. I got rid of the few 100 ouncers I had when I could. They just aren't liquid enough. Most buyers in the silver market have less discretionary funds than those in the gold market. Very few silver buyers can afford a 100 ounce bar. And what would I buy with a 100 ounce bar post SHTF, a Hotel LOL?

[Jester-ND]

I have a majority of 10 oz bars and 1 oz.. lucky for me I bought most of my 10oz bars for 148.90 when spot was lower and premiums were normal! gold eagles I got were @ $1453 spot (1508 with premium).. the good ol days!

[Inor]

I am looking at some Call options on the Volatility Index (^VIX). I am liking the $17 strike price for the November contract. The historical average is about $18 and right now, shares are at $17.03. Options are currently trading for $7.40 per contract for the $17 November.

My thought is, the VIX is way too low for as crazy as the markets have been and will continue to be for the next several months. VIX is almost certain to go up at least a dollar at some point in the next 6 months. So I am thinking about buying 10 contracts at anything less than $7.40 per contract. As soon as the buy order fills, I will put a Good Til Cancel sell order for $1 per contract more than my final buy price. That would give me a $1000 quick profit on a $7500 bet.

Note: The ^VIX is a derivative and options contracts on it are a derivative on a derivative. So this is obviously nothing but a casino bet. But I am liking the odds for a quick win.

[StratBastard]

Gold finally below $2K @ 1995. Silver hit $24.02. Maybe there is a selloff going, with people taking profits. I also suspect some folks just need the cash to pay the bills now. Either or both, here's hoping a small flood of inventory hits the shelves, giving us another dip to buy.

[Inor]

Gold finally below $2K @ 1995. Silver hit $24.02. Maybe there is a selloff going, with people taking profits. I also suspect some folks just need the cash to pay the bills now. Either or both, here's hoping a small flood of inventory hits the shelves, giving us another dip to buy.

The markets are goofier than shit right now!

I have been looking to go into the VIX play that I outlined above but nothing is moving with any kind of logic. Yesterday, the VIX shares were all the way up to $17.85 from $17.05 but the options had only moved up $0.25. Today, the VIX dropped down to $16.85 (suggesting more market stability?!?!) but options had actually moved up a nickel! Huh?

I killed my buy order this afternoon. Even if the markets move in my favor I do not want to buy in until some kind of rationality returns. So back to square-one looking for stuff that is over-sold or over-bought...

[StratBastard]

Silver continues to slowly drop, @ $23.64 today.

[Inor]

Last winter (end of February/beginning of March) I won an auction to buy a piece of land across the road from us for back taxes. At the time, the county told me I had to pay the tax on the land for 4 more years before I could foreclose on the title and transfer the title to my name and "officially own the land".

Today, we got a letter from the county requesting the tax payment for the 2023 taxes in June. (Usually our property tax payments are due in October.). I did not understand why they wanted money now so I called them to get the skinny. It seems our county is running short on cash flows from property taxes because so many properties are going into tax default. So they are offering a one-time deal if we pay now, instead of October. They will cut one year off the foreclosure process. So we pay them the tax 5 months early and get the title in 2 1/2 years instead of 3 1/2?!? HELL YEAH! - Sign me up!!

But that also has me salivating for what other deals might be starting to come down the pike soon... So keep some cash on hand boys and girls to be able to take advantage of these kinds of things when they are offered! I think this is just the beginning of some really fun and profitable times in the very near future!

[StratBastard]

Last winter (end of February/beginning of March) I won an auction to buy a piece of land across the road from us for back taxes. At the time, the county told me I had to pay the tax on the land for 4 more years before I could foreclose on the title and transfer the title to my name and "officially own the land".

Today, we got a letter from the county requesting the tax payment for the 2023 taxes in June. (Usually our property tax payments are due in October.). I did not understand why they wanted money now so I called them to get the skinny. It seems our county is running short on cash flows from property taxes because so many properties are going into tax default. So they are offering a one-time deal if we pay now, instead of October. They will cut one year off the foreclosure process. So we pay them the tax 5 months early and get the title in 2 1/2 years instead of 3 1/2?!? HELL YEAH! - Sign me up!!

But that also has me salivating for what other deals might be starting to come down the pike soon... So keep some cash on hand boys and girls to be able to take advantage of these kinds of things when they are offered! I think this is just the beginning of some really fun and profitable times in the very near future!

That's a really good opportunity for you, I say jump on it.

[StratBastard]

Silver continues down to $23.30 today. EDIT: now $23.18

[Jester-ND]

premium sale on 5 oz silver flag bars... a little more palatable

https://www.jmbullion.com/5-oz-silvertowne-american-flag-silver-bar/

[Inor]

For the first time in 11 FOMC meetings, the Fed decided to pause interest rate hikes and inflation is "under control". WOO HOO!!! But the devil is in the details... In Powell's remarks, he also stated to be prepared for at least 2 more rate hikes this year, implying 1/4% each time.

Don't buy into it! This is complete bullshit!

Remember '06. They did almost the exact same thing trying to stop the housing bubble from bursting. Interest rates then were about the same as they are now. Housing started to crash, so the Fed paused rate hikes and even had a couple meetings where they dropped rates. (As I recall, they did two 1/4% drops in late '06.). Then all hell broke loose in late '07 and early '08. They are running almost the exact same playbook now.

The big difference now from '06, however, is now we already have banks failing. Commercial real estate is about to explode in a HUGE wave of foreclosures due to interest rates resetting this fall and all next year. The big layoffs have already started. The BIG difference is in '06, at this stage of the game, the economy was still mostly pretty strong except for residential real estate. Now, the entire economy is barely hanging on and the really bad stuff has not even started yet.

Hang onto your butts. This is not going to be pretty.

[Jester-ND]

Sounds like san fran going to go down commercial real estate first... seen several stories where several top end hotels and a mall have already had plug pulled to save losses.

[BucketBack]

10K for a local used car lot with no inventory.

[Inor]

Sounds like san fran going to go down commercial real estate first... seen several stories where several top end hotels and a mall have already had plug pulled to save losses.

That is bad, but what is FAR worse is the commercial MORTGAGES and that is nation-wide.

Commercial mortgages are very different than residential mortgages. Unlike the mortgage on a home that is usually 20-30 years (soon to be 40 years I am betting - but that is for a different thread.), commercial mortgages are usually for 5 years. That means, those mortgage with super-low interest rates written before the 'rona are going to be expiring soon and they will have to re-negotiate a new 5 year mortgage at much higher interest rates. Since a lot of those properties are on the bubble of being able to cash-flow them at 3% interest, they are going to be bleeding red ink when they have to renegotiate a new mortgage at 7-8% (even if they are at full occupancy, which most are not).

And guess what... All those commercial mortgages are bundled up and sold as corporate bonds just the same as the residential mortgages were in 2008 when they blew up. And who owns all those bonds? Banks, pension funds, etc. Just like the residential Mortgage Backed Securities that blew up in 2008.

[StratBastard]

Silver drops to $22.88 an ounce tonight.

[StratBastard]

Silver still dropping... @$22.50. Premiums still pretty high.

[Jester-ND]

yup..... stupid premiums the new norm

[StratBastard]

Silver drops to $22.79 today, but still with the stupid high $4 premium on top. I used to buy silver pretty regularly with an .89 cent premium.

[StratBastard]

Silver dropped just under $22 today. Apmex had a sale on 10 ounce bars with half the premium off, putting them at $241. My last pile I bought at $231, so getting close to maybe scoring some more.

[Jester-ND]

100oz silver bars @ jmbullion .99 over spot, 2,265/bar

[StratBastard]

Dropping like a stone today, silver down to $21.30

[StratBastard]

Silver dips again to $20.99

[StratBastard]

The silver I bought @ $20.98 arrived yesterday, now it's back up to $22.13. It only accrued $1150 in value while it was on the truck coming here, must be losing my touch. :biglaugh: Seriously though, I wouldn't care if it dropped again. I am still holding too many quickly depreciating paper dollars, there's no safe investment like CD's paying out anything, and the bond market is melting down, so I'm way more comfortable just holding silver. Gold is down, but still out of range of a reasonable purchase consideration.

[1skrewsloose]

I guess its like they say, ya gotta have money to make money.:)

[StratBastard]

I guess its like they say, ya gotta have money to make money.:)

I don't have much LOL. Remember, I live in a $30K trailer in the country.

Back when I thought I wanted to buy a house to retire in, I had this fund set aside so I could put maybe 50% and not have too high a mortgage. Now that I have no plans to buy a house, I just want to hedge the money.

[StratBastard]

Gold rises to just over $2000 an ounce.

[StratBastard]

A Gold Bar with mint marks, recovered from the Spanish treasure ship 'Atocha' which sank in 1622

25625

[bigwheel]

Dont forget to use it buy good barter items such as whiskey, cigarettes and toilet paper.

[StratBastard]

Dont forget to use it buy good barter items such as whiskey, cigarettes and toilet paper.

Absolutely BW! I buy precious metals only because I have been prepping for 25 years or so and have all I need. I always advise others to do the same: don't buy gold and silver if you don't have your food, water, power, and weapons/ammo stuff completed sorted and ready... and a score of other things as well. As things to prep with, it WAS one of the lowest on my list of priorities. I just have an additional pile of dollars I am not willing to allow to become worthless, so yes I watch the gold/silver market and wait like a spider for the true anomalous dips in prices.

[Jester-ND]

Absolutely BW! I buy precious metals only because I have been prepping for 25 years or so and have all I need. I always advise others to do the same: don't buy gold and silver if you don't have your food, water, power, and weapons/ammo stuff completed sorted and ready... and a score of other things as well. As things to prep with, it WAS one of the lowest on my list of priorities. I just have an additional pile of dollars I am not willing to allow to become worthless, so yes I watch the gold/silver market and wait like a spider for the true anomalous dips in prices.

same here... except for the 25 years of prepping..... some of you fuckers are ooooold!!! hehe

[Slippy]

same here... except for the 25 years of prepping..... some of you fuckers are ooooold!!! hehe

Don't remind us!

(Kids these days!)

[StratBastard]

Gold keeps dropping, finally below $2K @ $1996. Silver down to $23.11.

[Jester-ND]

curious to see if silver drops to around 22 again

[BucketBack]

same here... except for the 25 years of prepping..... some of you fuckers are ooooold!!! hehe

I started prepping after my friends brothers came back from their Senior trip in SE Asia

[StratBastard]

curious to see if silver drops to around 22 again

If it drops below $21, in conjunction with a premium sale (so I can get it @ $23 an ounce all in) I'll buy 400 more ounces and have reached my goal. I'd really like to get some gold, but it's still way up there. As our buddy Inor :hail: predicted, it fell to $1630 early in the year. $1996 right now doesn't look very appealing.

[Jester-ND]

If it drops below $21, in conjunction with a premium sale (so I can get it @ $23 an ounce all in) I'll buy 400 more ounces and have reached my goal. I'd really like to get some gold, but it's still way up there. As our buddy Inor :hail: predicted, it fell to $1630 early in the year. $1996 right now doesn't look very appealing.

yea, the gap says go silver.... gold hasn't looked appealing in quite some time... and the fucking premiums on both.... :beathead:

[Jester-ND]

https://www.jmbullion.com/1-oz-sunshine-silver-round/

a premium I could stomach! cheaper than 10 oz bars... gobbled up a few!

[Dwight55]

My precious metals are currently running 86.6 cents per and 76.8 per . . .

One is 7.62 . . . the other is 5.56

THOSE will trade well . . .

May God bless,
Dwight

[StratBastard]

28042

[StratBastard]

Gold & Silver Exchanges Being 'Bled Dry' and No One is Paying Attention:


https://www.youtube.com/watch?v=rlFjWDn7PT0&t=31s

[StratBastard]

Silver shot up to $26.40 today.

[Prepared One]

Gold & Silver Exchanges Being 'Bled Dry' and No One is Paying Attention:


https://www.youtube.com/watch?v=rlFjWDn7PT0&t=31s

I think a pretty good indicator of things to come.

[Jester-ND]

good time to flip some profits on my 200oz of paper silver (bought @ around 22/oz)..... now @ 27.22

[StratBastard]

Now silver is 27.42, up yet another buck since yesterday. Somethings up.

[Chiefster23]

Wow! Gold jumped $45 an ounce yesterday. It’s going crazy. Something is definitely afoot. The big money boys are making a move.

[Prepared One]

Wow! Gold jumped $45 an ounce yesterday. It’s going crazy. Something is definitely afoot. The big money boys are making a move.

Agreed. When gold jumps like that there is generally something in the wind.

[StratBastard]

Silver just hit $28.06.

[Jester-ND]

Silver just hit $28.06.

that gap is closing.....

[StratBastard]

I went to the liquor store today to buy a case of bourbon... keeping that stash up at 5 cases. I actually got a 1964 silver quarter in change. I can't remember the last time that happened... maybe 15 years ago?

Virtue rewarded.

[StratBastard]

Silver passes $29 today... $29.01

[Jester-ND]

gold over 2400 too.

[Jester-ND]

jm bullion re-buying gold bars over spot, and buying silver waaaay under. 2500 for a 100oz silver bar buyback price... whatever that tells you

[StratBastard]

jm bullion re-buying gold bars over spot, and buying silver waaaay under. 2500 for a 100oz silver bar buyback price... whatever that tells you

My take: silver prices have risen before and dropped right back down. Sure, lots of people hoping this is the breakout for silver everyone's been waiting like 10 years for. But from the dealer's perspective, they're going to wait and see if silver actually maintains a new price floor. They won't pay $28 an ounce to see it drop to $24 again and be stuck with it. If silver stays above $28 for a couple of months, things will shake out, settle, and a new price floor will be established. Then dealers will be willing to buy closer to current spot. JMO. Been wrong before LOL.

[StratBastard]

Silver hits $29.41.

[StratBastard]

jm bullion re-buying gold bars over spot, and buying silver waaaay under. 2500 for a 100oz silver bar buyback price... whatever that tells you

Yep, like I suspected. Silver drops back $1.32 an ounce in 24 hours. Whatever's going on, it volatile as hell.

[StratBastard]

Silver just hit $30. :shocked:

[StratBastard]

Buying Gold in Vending Machines...What The Hell?


https://www.youtube.com/watch?v=zdi--43XEv4

[Jester-ND]

Buying Gold in Vending Machines...What The Hell?


https://www.youtube.com/watch?v=zdi--43XEv4

saw those several years ago... several of them across the country, one in vegas!

[StratBastard]

Silver hits $31.75

[Jester-ND]

over 32 currently....

[StratBastard]

$32.30 Crazy BIG movements for silver lately. Had one day I think it shot up $1.80. Let's see if it stays, and establishes a new permanent floor.

[Jester-ND]

yea, was only 5 months ago and we were telling everyone it was at a good buy price... $10/oz up since then!

[StratBastard]

Banks shorting the bejeezus out of silver, trying to reign it in, to no effect (B of A 1.4 billion short). It keeps climbing. The physical demand from India is maybe overwhelming the paper market, who are investing in their tech market. Plus demand from the regular public up too.

India purchased a record 2,200 metric tons (70.7 million ounces) of silver in February 2024.

This is more silver than the US Mint produced in American Silver Eagle coins over the past three years combined.

The silver will likely be used for lithium-ion battery production in a new Indian gigafactory. They also have a robust photovoltaic industry utilizing silver.

[Slippy]

Banks shorting the bejeezus out of silver, trying to reign it in, to no effect (B of A 1.4 billion short). It keeps climbing. The physical demand from India is maybe overwhelming the paper market, who are investing in their tech market. Plus demand from the regular public up too.

India purchased a record 2,200 metric tons (70.7 million ounces) of silver in February 2024.

This is more silver than the US Mint produced in American Silver Eagle coins over the past three years combined.

The silver will likely be used for lithium-ion battery production in a new Indian gigafactory. They also have a robust photovoltaic industry utilizing silver.


yea, was only 5 months ago and we were telling everyone it was at a good buy price... $10/oz up since then!

Sell price? Or ride this rocket until late Oct?

[Jester-ND]

Sell price? Or ride this rocket until late Oct?

it's going to be a roller coaster.....

[StratBastard]

Sell price? Or ride this rocket until late Oct?

It rarely occurs to me to sell. Pretty much one time when my daughter was buying her first house, and I sold a pile of Krugerrands to raise a quick $80K. :blackeye:

My silver is an insurance policy and hedge. I never bought it hoping to make a profit. Now that I could (It's up $25K in the last 18 months since I bought it at $20.98), I don't need it. I do need the insurance policy though. And if it goes to $50, I'm DEFINITELY not selling. That means the bad stuff is here.

[StratBastard]

Just watched it drop by 70 cents in 40 minutes. Major players out there keep pulling it down, and it shoots right back up. The new physical demand (especially from India yikes!) is maybe overwhelming the paper silver market's ability to mitigate the price. From what I've been seeing, J.P. Morgan has been the culprit for years, and doing it for China as their client, who has a vested interest in keeping the price suppressed as they accumulate and produce it. India, however, is screwing that up big time. BRICS may not all be on the same page here.

[Inor]

It seems pretty self-evident the Federal Reserve Note is dying and the pace is increasing.

Last week, China dumped $53 billion of Treasury Bills, driving down the price of U.S. debt (and further increasing interest rates). They have been slowly selling U.S. debt for about year, but what makes this one unique is they seem to have increased the pace of their divestment. Probably, you saw this on the news. But what you may have missed is the day after China dumped over 5% of their T-Bills (May 14th), Belgium dumped another $20 billion worth of T-Bills.

Also, Japan (the largest foreign holder of U.S. government debt) is making noise that they do not want to sell their holdings, but at the same time the Yen is in free fall again. Late last week it briefly touched an exchange rate of 160:1. Historically, it has been bouncing between 110:1 and 120:1. So they may be forced to sell just to protect the Yen.

We could debate whether all these sales of U.S. debt are a hostile action or just happenstance, but it really does not matter. What does matter is the effect is the same - a weaker U.S. dollar, higher inflation and fewer options for the government to finance its stupid spending programs.

The take-away is: holding dollar denominated assets right now is a bad idea. Whether you favor PMs, crypto, hard assets, etc. is largely a personal choice. But the one things that seems clear right now, holding cash is a losing proposition in the immediate term.

[StratBastard]

Scammers are dialing it up on silver:


https://www.youtube.com/watch?v=5nELoLb9ckc

[StratBastard]

We could debate whether all these sales of U.S. debt are a hostile action or just happenstance, but it really does not matter. What does matter is the effect is the same - a weaker U.S. dollar, higher inflation and fewer options for the government to finance its stupid spending programs.

My take from what I've been reading is China is doing a double-whammy: dumping dollars to buy gold.

[StratBastard]

https://www.youtube.com/watch?v=Jutm-rMwTwk

[Prepared One]

I am not a Wall Street whizz kid but when this economic house of cards fall it's going to be ugly.

[Michael_Js]

Trying to find her - she will be my new girlfriend!! :)

30130

[StratBastard]

Silver shoots right back up to $32.31. Maybe they can't keep it down anymore, and will have to concede $30 as the new floor?

[Inor]

Silver shoots right back up to $32.31. Maybe they can't keep it down anymore, and will have to concede $30 as the new floor?

It could be. But personally, I think it is a little too soon to call a floor yet. If it can break and hold $32.50 for a few days or, even better, break and hold $33 for a few days... Then I think it would be safe to consider $30 a floor for the next couple months. But calling a floor for longer than a month or two is still pretty dangerous in my arrogant opinion. Since early March, it has been too much of a straight rocket ride up to get comfortable anywhere.

Remember, with silver particularly, it is primarily trading as an industrial metal right now, and the JP Morg is still heavily manipulating the market. What happens when/if the wheels totally come off the economy like we all think they will? (I have NO FREAKIN' CLUE! I'm just throwing the question out there.)

[StratBastard]

It could be. But personally, I think it is a little too soon to call a floor yet. If it can break and hold $32.50 for a few days or, even better, break and hold $33 for a few days... Then I think it would be safe to consider $30 a floor for the next couple months. But calling a floor for longer than a month or two is still pretty dangerous in my arrogant opinion. Since early March, it has been too much of a straight rocket ride up to get comfortable anywhere.

Remember, with silver particularly, it is primarily trading as an industrial metal right now, and the JP Morg is still heavily manipulating the market. What happens when/if the wheels totally come off the economy like we all think they will? (I have NO FREAKIN' CLUE! I'm just throwing the question out there.)

Of course I'm just spit balling, so you're just as likely to be right LOL. The wild swings of as much as $1.50 an ounce each day do seem like a tug of war though. I'm speculating. JP Morgan is doing their thing as always, but it isn't lasting longer than a day or two. That's something kinda new. I'm wondering if the HUGE physical silver purchases by India, as well as the huge public demand is overwhelming JP's ability to squeeze or expand. There is a limit also to the amount of paper silver financial instruments they can toss into the ring, before the market finds them suspect as well. If they become a second or third place player in the silver market due to demand, it might reduce their overall ability to influence. Me, I'm just happy my last two big purchases were when spot was 20.98. And sorry I didn't buy a lot more at the time dangit LOL. But who knew? We've all seen silver spike before, then crash to the rocks again.

[Inor]

Of course I'm just spit balling, so you're just as likely to be right LOL. The wild swings of as much as $1.50 an ounce each day do seem like a tug of war though. I'm speculating. JP Morgan is doing their thing as always, but it isn't lasting longer than a day or two. That's something kinda new. I'm wondering if the HUGE physical silver purchases by India, as well as the huge public demand is overwhelming JP's ability to squeeze or expand. There is a limit also to the amount of paper silver financial instruments they can toss into the ring, before the market finds them suspect as well. If they become a second or third place player in the silver market due to demand, it might reduce their overall ability to influence. Me, I'm just happy my last two big purchases were when spot was 20.98. And sorry I didn't buy a lot more at the time dangit LOL. But who knew? We've all seen silver spike before, then crash to the rocks again.

I'm just spitballing too.

Right now, everything I am saying is based 100% on statistics and the stupid Machine Learning algorithms I am playing around with. I am not even betting real money on my own predictions recently because I have not taken the time to do any kind of deeper study on the market movements. :biglaugh:

I will say, Bitcoin has been VERY good to me the last year. It almost makes me wish I had taken more of an attitude of using it as an investment rather than just a scheme to avoid paying taxes. By the same token, had I actually "invested" a sizable amount of money into it, I probably would not have slept much given how much the price moves on a daily basis. It has been a damn fun experiment but I still think you are the wiser of us for sticking with something real and tangible for investing. :headbang:

[Prepared One]

I don't trust anything any of the markets are doing right now. I think everyone is trying to position themselves for when the wheels fall off so that means they see trouble coming. Countries, the rich and powerful, banks and financial institutions are all trying to be in the right place when it goes to hell and with all the manipulation going on, I don't know that there is a right place to be. Me and MG? We are holding on to assets and as much cash as possible with reserves in IRA's and a bit in a 401K.

[StratBastard]

Economist: 'True' federal debt masked by draining U.S. Treasury

The federal debt continues to climb to unprecedented levels, but the “actual, true” debt is higher if the Treasury weren’t being drained, a national economist says.

Citing Bureau of the Fiscal Service data, E. J. Antoni, Ph.D., an economist at the Heritage Foundation, argues that as the federal debt increases, the “true daily deficit” is being masked by the amount of cash being drained from the U.S. Treasury by Treasury Department Secretary Janet Yellen.

The federal debt increased Friday by $10.9 billion, “but the true daily deficit was worse, requiring Yellen to drain another $5.7 billion from the Treasury cash account,” Antoni said on X, formerly Twitter. He asked if Yellen doing so was an “election year ploy … to make the deficit and debt look smaller than they really are?”

https://www.msn.com/en-us/money/markets/economist-true-federal-debt-masked-by-draining-u-s-treasury/ar-BB1ngkeD?ocid=msedgdhp&pc=HCTS&cvid=8c06c2bd58134f55808d5fb9b88b8369&ei=46

30274

[Jester-ND]

I pulled cashed out all my cyber metal play around money... just waiting to see where everything goes.... feels like the breath before the plunge,

[StratBastard]

India dials up silver purchasing. Already purchased more in 2024 than the entire year 2023.

India imported a record 4,172 metric tons of silver from January to April this year. This marks a staggering increase from the 455 tons imported during the same period in the previous year. For comparison, India’s total silver imports for 2023 amounted to 3,625 tons.

That's a staggering 7797 metric tons of physical silver no longer available with demand rising simultaneously.

That's 275 MILLION ounces. There are 2.78 billion ounces circulating or in vaults out there currently.

India has 10% of the world physical supply.

30501

[Jester-ND]

I see Gamestop boys are back driving up that stock, last time they cashed out gamestop and bought all the physical silver, that is what caused the increased premiums that haven't subsided! rollercoaster indeed! down to 30, back up to 32, down to 30 again, within a week.

[StratBastard]

I see Gamestop boys are back driving up that stock, last time they cashed out gamestop and bought all the physical silver, that is what caused the increased premiums that haven't subsided! rollercoaster indeed! down to 30, back up to 32, down to 30 again, within a week.

Yep. $2 swings almost daily LOL. It's a tug of war.

[StratBastard]

Silver passes $31 again today. They still can't keep it down.

[Jester-ND]

1 oz silver rounds premium drop a bit at jmbullion, can get em for 31 and change. cheaper that 100oz premiums

[Inor]

India dials up silver purchasing. Already purchased more in 2024 than the entire year 2023.

India imported a record 4,172 metric tons of silver from January to April this year. This marks a staggering increase from the 455 tons imported during the same period in the previous year. For comparison, India’s total silver imports for 2023 amounted to 3,625 tons.

That's a staggering 7797 metric tons of physical silver no longer available with demand rising simultaneously.

That's 275 MILLION ounces. There are 2.78 billion ounces circulating or in vaults out there currently.

India has 10% of the world physical supply.

30501

Since your post on 6/6 I have been studying up on this a bit, trying to figure out what they are up to. What I have been able to learn so far...

The silver India has been purchasing for about the last 6 months has mostly been for industrial use. They seem to be buying in bulk just to have on hand, mostly for lithium battery and EV production as near as I can tell. They have also been buying it to hold in reserve. That is, they are buying FAR more than they are using. I think they have been trying to build up a significant stockpile so they are not forced to buy it on the open markets if prices/premiums take off again or if it becomes difficult to get on the open market.

It also sounds like they are going to start tapering off on their purchases over the next few months as they have stacked as much as they want in reserve for industrial use. That also seems to fit with what Jester is saying with premiums coming down a little bit.

From everything I am seeing/reading about the "global economy" (especially China and eastern Europe), it sounds like they may be going back into recession which will further dampen industrial demand.

That may push prices down a bit. I cannot get a real good read on it because mostly they just report total sales not broken out by industrial demand vs retail demand. Tracking silver demand vs gold demand (gold being mostly sold for investment, not industrial) leads me to believe the recent big purchases of silver are mostly industrial. So, I am thinking we may see silver back to around $25 for a short time before it takes the next leg up.

Thoughts?

[StratBastard]

Since your post on 6/6 I have been studying up on this a bit, trying to figure out what they are up to. What I have been able to learn so far...

The silver India has been purchasing for about the last 6 months has mostly been for industrial use. They seem to be buying in bulk just to have on hand, mostly for lithium battery and EV production as near as I can tell. They have also been buying it to hold in reserve. That is, they are buying FAR more than they are using. I think they have been trying to build up a significant stockpile so they are not forced to buy it on the open markets if prices/premiums take off again or if it becomes difficult to get on the open market.

It also sounds like they are going to start tapering off on their purchases over the next few months as they have stacked as much as they want in reserve for industrial use. That also seems to fit with what Jester is saying with premiums coming down a little bit.

From everything I am seeing/reading about the "global economy" (especially China and eastern Europe), it sounds like they may be going back into recession which will further dampen industrial demand.

That may push prices down a bit. I cannot get a real good read on it because mostly they just report total sales not broken out by industrial demand vs retail demand. Tracking silver demand vs gold demand (gold being mostly sold for investment, not industrial) leads me to believe the recent big purchases of silver are mostly industrial. So, I am thinking we may see silver back to around $25 for a short time before it takes the next leg up.

Thoughts?

India absolutely has eyes on becoming a major global manufacturer of batteries and photovoltaic/solar products. So yeah I agree they are buying it for industrial usage. It is silver to be consumed and off the market. When this starts happening... that we are utilizing silver faster than we can pull it out of the ground... then we'll see the big spike. Not there yet. We pull about 804 million troy ounces out of mines a year globally, while using 508 million ounces for industry each year.

[StratBastard]

Silver hits $31.66 today.

[Jester-ND]

Silver hits $31.66 today.

JM bullion hasn't even shipped my order yet, with the sale and increase in price, I paid under spot......

[Jester-ND]

Glad I pulled my money from cybermetals.... their premiums fluctuate like nobody's business, up to .79/oz for imaginary silver now. 9.88% on palladium... no thanks!

[Jester-ND]

Today with price drop, their silver premium drops to .55/oz. almost as if they assume there will be a further price drop and trying to entice people to buy. Be nice if I could just let their experts tell me what they think will happen and respond accordingly without paying a team! see where this goes! :spy:

[Jester-ND]

aaaaaand price dropped bigly!!! try to buy the dip?

[Slippy]

This is all so above my simple mind...

[StratBastard]

India, the biggest buyer of physical silver for the last 2 years, makes more moves to get more metal into the country.

Silver prices in India have been witnessing sharp decline for the last 3 days ever since Finance Minister Nirmala Sitharaman announced a cut in customs duty on gold and silver to 6%. The latest move to slash customs duty on gold and silver to 6% was cheered by industry experts.

Read more at: https://www.goodreturns.in/news/silver-prices-fall-in-india-july-25-silver-prices-drop-by-rs-7000-check-latest-silver-price-1359775.html

[Jester-ND]

and price of silver spot dropped under 28 the other day... suckered me back in! with premiums cost was 28.55/oz... I can live with that for now!

[Inor]

Between yesterday and today, just over $2.9 TRILLION market cap was wiped out in the major stock indexes! The July jobs report also missed by almost 40%. And the two stats that were ignored in all the other noise, is the May and June jobs numbers were revised down by another 29,000 jobs. Actually, I find the downward revisions even scarier than the July miss. This is the fifth month of the last six where the numbers have been revised down. Or put another way, 11 of the last 14 months have job numbers that have been revised down!

Keep a close watch next week. If the blood letting continues through next week, we could be at the big crash that many of us have been calling for some time. That said, I do expect some kind of bounce on Monday but the telltale sign will be where we are at by the end of next week. If we have another big down week, look out below!

[1skrewsloose]

It makes sense to me now why some Wall Street guys commit suicide after their predictions fail, and loose HUGE bucks. I don't need or want that kind of stress, so I don't participate in it. I can understand why it appeals to some.

[StratBastard]

Global stock sell-off intensifies amid fears of U.S. recession

Asia-Pacific markets continued the sell-off from last week, while investors awaited key trade data from China and Taiwan this week, as well as central bank decisions from Australia and India.

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. Heavyweight trading houses such as Mitsubishi, Mitsui and Co, Sumitomo and Marubeni all plunged around 10%.

31768

https://www.msn.com/en-us/money/markets/global-stock-sell-off-intensifies-amid-fears-of-u-s-recession/ar-AA1oeBrI?bncnt=BroadcastNews_TopStories&ocid=UCPNC2&FORM=BNC001

[red442joe]

Tagged

Joe

[Jester-ND]

to me, playing metals is like the fish taking your bait, big fish, that reel is screamin! then I set the hook and start to reel it in (for profit) sometimes it is a boot though.

[Prepared One]

Definitely something to keep your eye on. I see people are back to predicting a recession again. I always knew that threat was just simmering under the surface, it was always there, but the MSM and this administration can't cover it up for much longer. People are hurting, food, gas, insurance, and other necessities are still running at 20, 30, and 40% higher with no end in sight. The administration has no clue how to fix it. Rules, regulations, more taxes and bad policies (AKA: New Green Deal) are chocking the economy and the middle class, not to mention the lower income folks. Their answer is to throw more of the same shit on the smoldering pile. Heels up Harris won't be able to dodge this issue for long.

[Inor]

Between yesterday and today, just over $2.9 TRILLION market cap was wiped out in the major stock indexes! The July jobs report also missed by almost 40%. And the two stats that were ignored in all the other noise, is the May and June jobs numbers were revised down by another 29,000 jobs. Actually, I find the downward revisions even scarier than the July miss. This is the fifth month of the last six where the numbers have been revised down. Or put another way, 11 of the last 14 months have job numbers that have been revised down!

Keep a close watch next week. If the blood letting continues through next week, we could be at the big crash that many of us have been calling for some time. That said, I do expect some kind of bounce on Monday but the telltale sign will be where we are at by the end of next week. If we have another big down week, look out below!

Okay, I did not think today would be such a blood bath. (In my defense, I did not think to take into account that Japan would raise their interest rates at the same time our unemployment numbers came out so bad.) My bad. Sorry.

But looking at the DOW futures for tomorrow's opening, it looks like tomorrow is going to be the day for the "dead cat bounce". So I was off by one day - sue me! As I write this, it looks like the DOW will open tomorrow (Tuesday), up about 315 and NASDAQ will open up about 330. Regardless, it will not hold in the medium/long term. The last week or two is really starting to look a lot like September 2008.

If this crazy volatility continues for more than a week or two, I am thinking this going to be a LONG way down wiping out almost everything (including gold, silver, Bitcorn and real estate) between now and next spring. Get your cash ready to go because EVERYTHING will be going on massive fire sale real soon! Of course I could be wrong, but there will still be quite a few people forced to sell property, cars, boats, etc. just from the last 3 days of bleeding.

What a fun time to be alive!!!!

Edit: One other interesting point... Just today, another $1.4 TRILLION in market cap disappeared.

[StratBastard]

Okay, I did not think today would be such a blood bath. (In my defense, I did not think to take into account that Japan would raise their interest rates at the same time our unemployment numbers came out so bad.) My bad. Sorry.

But looking at the DOW futures for tomorrow's opening, it looks like tomorrow is going to be the day for the "dead cat bounce". So I was off by one day - sue me! As I write this, it looks like the DOW will open tomorrow (Tuesday), up about 315 and NASDAQ will open up about 330. Regardless, it will not hold in the medium/long term. The last week or two is really starting to look a lot like September 2008.

If this crazy volatility continues for more than a week or two, I am thinking this going to be a LONG way down wiping out almost everything (including gold, silver, Bitcorn and real estate) between now and next spring. Get your cash ready to go because EVERYTHING will be going on massive fire sale real soon! Of course I could be wrong, but there will still be quite a few people forced to sell property, cars, boats, etc. just from the last 3 days of bleeding.

What a fun time to be alive!!!!

Edit: One other interesting point... Just today, another $1.4 TRILLION in market cap disappeared.

Yep. Silver has been mirroring the crash, falling to $27.05 today. That's because for every ounce of physical silver, there's at least 100 ounces in paper instrument silver: stocks, futures, you name it. So, 99% of that market being paper, it gets hit like everyone else.

[StratBastard]

31778

[Sasquatch]

Yep. Silver has been mirroring the crash, falling to $27.05 today. That's because for every ounce of physical silver, there's at least 100 ounces in paper instrument silver: stocks, futures, you name it. So, 99% of that market being paper, it gets hit like everyone else.

I'm getting bent over on some stocks but it's all lowball stuff so I write off the loss. I'm happy about the silver dropping. Once it gets low enough I can buy more!

[StratBastard]

31779

[red442joe]

@Inor
Stack cash, watch end-of-the-year/early-next-year for cash buyable deals? Most especially properties?

Joe

[Inor]

Yep. Silver has been mirroring the crash, falling to $27.05 today. That's because for every ounce of physical silver, there's at least 100 ounces in paper instrument silver: stocks, futures, you name it. So, 99% of that market being paper, it gets hit like everyone else.

Gold, silver, Bitcorn, etc. are going to continue to get slammed as the markets go down because the guys that leveraged up to buy the hype are having to make their margin calls, forcing them to sell something. PMs have had a pretty good run so it makes sense to take some profit to cover other losses.

[StratBastard]

31884

[StratBastard]

India's silver imports to double on demand for solar, investment

This year's purchases could rise to between 6,500 and 7,000 tons due to the rising industrial demand, said Chirag Thakkar, CEO of Amrapali Group Gujarat, a leading silver importer.

India's silver imports in the first half of 2024 jumped to 4,554 tons from 560 tons a year ago, trade ministry data showed.
"There is a traditional demand for jewellery. People are also buying for investment purposes now that the duty cut has made silver more affordable," Thakkar told Reuters on the sidelines of the India Gold Conference.

India slashed import duties on silver in July to 6% from 15%, a step aimed at tackling smuggling.

Thakkar said investment demand had been "phenomenal" in the first half of the year as people bought silver anticipating that it would give them a better return than gold.

Local silver futures hit a record high of 96,493 rupees ($1,151) per kilogram in May and are up nearly 14% so far in 2024, slightly exceeding a 13% increase in gold prices.

32219

https://www.msn.com/en-in/news/other/india-s-silver-imports-to-double-on-demand-for-solar-investment/ar-AA1piPeg?ocid=BingNewsSerp

[Jester-ND]

guy on radio said Russia upping their gold buying from 1 million rupies a month to 7 million....

[Chiefster23]

The Fed and our government seems hell bent on inflating our dollars into toilet paper. A stash of PMs buried out in the back 40 doesn’t seem like such a far fetched idea anymore. Just don’t forget where ya buried it!

[Inor]

Johnny Bravo has been getting more and more political lately. (I never knew he even had any political opinions until recently). He's still fun to watch when I am highly caffeinated. He is also good to get my options trading fix without actually putting money on the line. But I am getting the itch to start trading some options again. Maybe I'll play around with a few as we seem to be in a good bouncy period where we can make some decent money quickly.


https://www.youtube.com/watch?v=4x-N2B1ykPo

[StratBastard]

Silver over $31 again today.

[Jester-ND]

yea, I have been taking my 10% or so profits bought the last dip around 27.95.....

[StratBastard]

yea, I have been taking my 10% or so profits bought the last dip around 27.95.....

I'm way up, having bought most of it at $20.98 ($23.10 with the discounted premium on top), but I'm hanging onto it. I sold 50 one ounce gold coins maybe 5 or 6 years ago to help my daughter buy her first house... now I wish I had just sent her a check for $80K and kept the gold LOL.

[Jester-ND]

I'm way up, having bought most of it at $20.98 ($23.10 with the discounted premium on top), but I'm hanging onto it. I sold 50 one ounce gold coins maybe 5 or 6 years ago to help my daughter buy her first house... now I wish I had just sent her a check for $80K and kept the gold LOL.

yea, still have my physical metals... loaded up on gold around 1300, and silver around 15... just flipping cyber metals I dabble in...

[StratBastard]

Silver spikes to $32.48 today.

[StratBastard]

Silver cracks $32 again today.

[Jester-ND]

should be closer to 35 with gold as high as it is...

[StratBastard]

should be closer to 35 with gold as high as it is...

Yep. There's so very much physical silver being bought up, the paper silver market is struggling to keep up the illusion that's it's plentiful. Every time they beat it down just under $30, it pops back up in a week or so. Fun times.

[StratBastard]

Silver shoots up 6.6% overnight, hits $33.92.

[Jester-ND]

Silver shoots up 6.6% overnight, hits $33.92.

a good start......

[StratBastard]

Russia’s Central Bank to Acquire Silver Reserves

Russia’s Draft Federal Budget for the coming year includes plans for the nation’s central bank to continue adding gold, platinum, and palladium reserves and acquire silver for the first time.

https://www.numismaticnews.net/coin-market/russias-central-bank-to-acquire-silver-reserves

33093

[StratBastard]

https://www.youtube.com/watch?v=LUOuv01ir9Y

[StratBastard]

If you saw the video above, here's how those banks shorting silver to keep the price down burned themselves.

Silver Prices Surge: Banks Face Billion-Dollar Losses

Silver prices soared by over 6% yesterday, breaking through the crucial $33.6 per ounce mark and sending shockwaves through global markets. The surge has put five major U.S. banks at risk of massive losses, potentially in the billions, due to their heavy short positions in the precious metal.

According to data from the Commodities Futures Trading Commission (CFTC), the open interest in silver futures contracts has reached a staggering 141,580 contracts, each representing 5,000 ounces of silver. This translates to a total of 707,900,000 ounces – nearly equivalent to a year's worth of global silver production.

With silver prices surging by $1.84 per ounce, these short positions are now underwater by an estimated $1.3 billion. Sources close to the matter report that gold futures are experiencing a similar trend, with paper shorts down over $1.5 billion.

The scale of this short position is particularly alarming given that it is reportedly concentrated among just five U.S. banks. Industry analysts are questioning how such a small group of institutions could take on a short position representing an entire year's worth of global silver mining output.

https://www.msn.com/en-us/money/markets/silver-prices-surge-banks-face-billion-dollar-losses/ar-AA1sxKBZ?ocid=msedgdhp&pc=HCTS&cvid=6ec2168707984e0f9d21b88867833c5d&ei=36

33108

[StratBastard]

Silver keeps spiking to $34.23 today.

[Jester-ND]

only took 2 weeks from when I said it should be at $35... To jump $4.. Hold onto your butts!

[Inor]

I thought it would happen at last year's BRICS meeting, but it did happen this year. The U.S. Dollar is now fully within the sights of the BRICS. Today they announced their replacement for the Swift system for settling transactions. Not only is it MUCH cheaper, it is also much faster (almost instantaneous vs 2-3 days with Swift), it is also not beholden to the political whims of Washington. This is going to be really bad for most Americans, but if you have been paying attention and positioning yourself accordingly, you stand to make a LOT of money!

[StratBastard]

I thought it would happen at last year's BRICS meeting, but it did happen this year. The U.S. Dollar is now fully within the sights of the BRICS. Today they announced their replacement for the Swift system for settling transactions. Not only is it MUCH cheaper, it is also much faster (almost instantaneous vs 2-3 days with Swift), it is also not beholden to the political whims of Washington. This is going to be really bad for most Americans, but if you have been paying attention and positioning yourself accordingly, you stand to make a LOT of money!

50 years was a good run, but the days of holding the planet hostage to the dollar are ending. Might be some are pissed off and butthurt about it too, wanting some payback. Which is why I have been diversifying away from the dollar for a few years now. I want to hold assets, and just enough dollars to make do when the ATM's stop spitting money and the bank doors are locked.

[MountainGirl]

50 years was a good run, but the days of holding the planet hostage to the dollar are ending. Might be some are pissed off and butthurt about it too, wanting some payback. Which is why I have been diversifying away from the dollar for a few years now. I want to hold assets, and just enough dollars to make do when the ATM's stop spitting money and the bank doors are locked.

So... WAY down the road, after the dust settles, if you survive, where are y'all gonna physically tote your stacks to rejoin the game?

Just FYI, Texas, in its forward thinking, passed a law last year that requires State agencies to accept presented PMs as legal tender.

[StratBastard]

So... WAY down the road, after the dust settles, if you survive, where are y'all gonna physically tote your stacks to rejoin the game?

Just FYI, Texas, in its forward thinking, passed a law last year that requires State agencies to accept presented PMs as legal tender.

If I went anywhere, it would be Texas. My daughter lives and works in Austin.

[Innkeeper]

My only problem with Texas and the other Border states is the Drug Cartels. Unless the TX Govt can hold itself together and hold it's National Guard and the Federal troops together, the cartels could play merry hell with the people of the border states.

But Texas would be an option for me, parts are really beautiful.

[Prepared One]

If I went anywhere, it would be Texas. My daughter lives and works in Austin.

She is in one of the most liberal cities in Texas. Unfortunately, Texas is falling the same way to the liberal virus. The democrat city states are taking control.

[Inor]

My only problem with Texas and the other Border states is the Drug Cartels. Unless the TX Govt can hold itself together and hold it's National Guard and the Federal troops together, the cartels could play merry hell with the people of the border states.

But Texas would be an option for me, parts are really beautiful.

M.T. Acres is about 30 miles from the border as the crow flies and we have quite a bit of cartel traffic in the mountains around us. Strange as it sounds, I dislike the cartels less than I dislike the wetbacks. The cartels just want to get through our area without drawing attention to themselves. (Unless they are the young punks, but that is another breed entirely). The wetbacks come through in packs and they will just destroy your pastures and your stuff. They do not care if Border Patrol gets them because they know they will be released in a couple hours. The cartels, not so much. If you leave them alone, they usually leave you alone.

I would prefer not to have any of them (and we didn't have them 4 years ago while they were building the wall). But given the choice between the cartels and the wetbacks, I would take the cartels 100% of the time.

[StratBastard]

She is in one of the most liberal cities in Texas. Unfortunately, Texas is falling the same way to the liberal virus. The democrat city states are taking control.

Consider the fact that she left L.A. to move to Austin, and it's a big step up. She's young still (33) and follows the corporate opportunities. Only planned on staying in Cali long enough to get established. Went from Director of global marketing and partnerships at Tinder to VP of marketing at Real in Austin and a good raise to boot. She's pretty conservative, a capitalist juggernaut, and I don't worry about her too much. Just following the money and building her empire LOL. Just bought her 3rd air B&B, and has a nice house in Austin. She makes almost 5 times what I did at her age, as does her husband. Some millennials are out there seriously kicking ass, in case anyone thought the entire generation is shit; there are many fully prepared to take the wheel of the world. See... you got me talking about my kid and now I won't shut up. I'll stop now LOL. Dad is proud.

[Slippy]

Consider the fact that she left L.A. to move to Austin, and it's a big step up. She's young still (33) and follows the corporate opportunities. Only planned on staying in Cali long enough to get established. Went from Director of global marketing and partnerships at Tinder to VP of marketing at Real in Austin and a good raise to boot. She's pretty conservative, a capitalist juggernaut, and I don't worry about her too much. Just following the money and building her empire LOL. Just bought her 3rd air B&B, and has a nice house in Austin. She makes almost 5 times what I did at her age, as does her husband. Some millennials are out there seriously kicking ass, in case anyone thought the entire generation is shit; there are many fully prepared to take the wheel of the world. See... you got me talking about my kid and now I won't shut up. I'll stop now LOL. Dad is proud.

Good job Dad!!!:beerchug::bigthumbup:

[Prepared One]

Consider the fact that she left L.A. to move to Austin, and it's a big step up. She's young still (33) and follows the corporate opportunities. Only planned on staying in Cali long enough to get established. Went from Director of global marketing and partnerships at Tinder to VP of marketing at Real in Austin and a good raise to boot. She's pretty conservative, a capitalist juggernaut, and I don't worry about her too much. Just following the money and building her empire LOL. Just bought her 3rd air B&B, and has a nice house in Austin. She makes almost 5 times what I did at her age, as does her husband. Some millennials are out there seriously kicking ass, in case anyone thought the entire generation is shit; there are many fully prepared to take the wheel of the world. See... you got me talking about my kid and now I won't shut up. I'll stop now LOL. Dad is proud.

And you should be proud. You did well Dad. I know she is just doing what I did, live in a liberal infested Houston in order to make money. Austin used to be nice city with a small town feel, despite the University of Texas. You could afford land and a house, especially out of the city. Those days are long gone. It has grown tremendously and spilling into the countryside. Last time I was there traveling with one of my sales guys all I saw was Cali plates and the outrages prices for housing and land. MG and I looked for land briefly out that way and decided it was way overpriced. If she can put up with the liberal cesspool she should do well there. Lot's of big money moving in, great restaurants, lot's to do, and she can buy a gun and take it home with her that very same day!

[Innkeeper]

M.T. Acres is about 30 miles from the border as the crow flies and we have quite a bit of cartel traffic in the mountains around us. Strange as it sounds, I dislike the cartels less than I dislike the wetbacks. The cartels just want to get through our area without drawing attention to themselves. (Unless they are the young punks, but that is another breed entirely). The wetbacks come through in packs and they will just destroy your pastures and your stuff. They do not care if Border Patrol gets them because they know they will be released in a couple hours. The cartels, not so much. If you leave them alone, they usually leave you alone.

I would prefer not to have any of them (and we didn't have them 4 years ago while they were building the wall). But given the choice between the cartels and the wetbacks, I would take the cartels 100% of the time.

But Cartel Actions would change in a SHTF scenario, because with the failure of law things will go into wild west mode and they will try to control as much territory ruthlessly wherever they are just like they do in Mexico now.

[Inor]

One of my favorite trading channels, Johnny Bravo, had this to say today.


https://www.youtube.com/watch?v=PcxyFVLGYlE

He is a little excitable and hawks his online courses a bit too much. But I never fault a guy for trying to make money. His track record has been very good for the last 1-2 years that I have been paying attention to him.

[StratBastard]

One of my favorite trading channels, Johnny Bravo, had this to say today.


https://www.youtube.com/watch?v=PcxyFVLGYlE

He is a little excitable and hawks his online courses a bit too much. But I never fault a guy for trying to make money. His track record has been very good for the last 1-2 years that I have been paying attention to him.

Hard to believe anyone would have that hair on purpose.