/biz/ - Business & Finance

>>53342955
>You know that thing you wanted to buy?
>Well it just got cheaper.
I'd buy more crypto and silver but I'm not sure if it's gonna dump again or not.

>>50997625
>correct sooner or later
>correct
silver has been demonetized
gold is still money
part of gold's value comes from its uses as a commodity (including more abstract uses as an ornament, and more concrete uses as a tool (such as gold fillings))
part of gold's use comes from its value as money (this value as money adds to its value as a commodity, but ultimately depends on its use as a commodity)
silver still has value as a commodity.
silver used to have value as money (even the smallest useful gold coin is too large for everyday purchases)
silver no longer has value as money in the age of fiat
silver won't have value as money again even when fiat fails - we have technological solutions like pic related, and things like (100% reserve) debit cards etc
not using silver as money solves the awkward problem of gresham's law and issues related to using 2 metals for money at the same time.
silver's value as a commodity is here to stay.
silver's value as a money has gone.
that's why the gsr of today and tomorrow is much higher than the gsr of the past.
yes, the silver price is manipulated. yes, it will surely increase. yes, the system is destined to collapse and the gsr will return to a "natural" level.

BUT

> the old gsr (with silver and gold both being money) WILL NOT RESEMBLE the new gsr (where gold is money, and silver is a commodity only)

if you bought silver thinking the gsr would go from 1:100 to 1:10, i'm afraid you bought a dream that ain't coming true