/biz/ - Business & Finance

Silver - The most exciting metal!

First for PAN MAN rounds

>>22750410
That is only a recent thing, fuck a year ago the charts would only display a 20 cent difference on the chart at any time

First Majestic Silver is now 14% lower than it was at the start of the year, when silver was $18, and Sprott had not invested in the company yet. Down 28% from local peak. Dump in miners is now beyond absurdity.

Greatest bargains in small cap silver stocks right now:

From local peak:

Metallic Minerals -42%
Silver One -31%
Bear Creek -31%
Canada Silver Cobalt Works -29%
Eloro Resources -28%
Bayhorse Silver -26%
Impact Silver -23%
Aurcana -17%

>>22750369
I am torn. Should I buy now or wait for sub $20?

>>22750496
Cup and handle forming.
Short silver.

>>22750528
Sub 20 definitely coming, just wait

Are we basically winning now no matter what?

>they keep hitting gold and silver

We buy more for cheap and profit massively when the manipulation stops

>they stop hitting them

Gold and silver go to the moon for real

>>22750526
I already bought 4 of those :’(((((

>>22750528
This is me too, I have a small cart ready to go but wondering if I should wait out the week here, I would like to buy a bit now though and buy more if it goes down further but what the fuck do I look like? Like I am made of shit paper?

FWTDHWAHQUD status-- {reading vice}

When copypasting the OP, please remember to remove the "[embed]", otherwise they stack up.

ZOOM, a company that does 600 million in revenue per year, is worth more than all the silver in the universe.

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

ZOOMERS RISE UP

>>22750611
>>22750637
how come newfags always forget to post these?

>>22750637
missed one sorry

>>22750581

Don't worry about it. It will all come right in the end.

I have everything I own in these stocks and, no matter how low the paper price of silver goes, I will never sell a single share.

h-haha

>>22750662
ive only baked twice, i didnt realize they were apart of it

>>22750526
yeah nice cheapies

>>22750662

I mean its nice and useful, but its not like it is mandatory

Allocated order boards aren't moving nearly as much as comex/currency prices. Bullionvault's North American vaults are still selling at a yuuuuuge premium over Europe and singapore. Spec rinsing.

Kinesis quotes for silver moved $0.03 for the comex move from 20.30 to 20.05.

>>22750784
>20.30 to 20.05
23.30 to 23.05***

Daily reminder Hitler and the National Socialists did nothing wrong, which is why Jews will flood into the thread to slander them.

Broke the $23 dollar floor

>>22750526

I bought the day before this huge dip. FML

Closed out my Put
Bought at $0.30
Sell $0.44

>>22750842
Don't start this shit or the other anon will sperg out again.

What is that japanese brand of silver that looks so damn nice?

22.9 might have been todays bottom
but I don't know shit

>>22750910
there are some 10 oz bars for 27.50 an oz on a dealers ebay

>>22750910
Asahi

>>22750686
Not even some for gold or uranium after silver has mooned?

>>22750945
>>22750949
Thanks gents

>>22750952

In the future, I don't expect ratio-trading to a thing any more. The GSR will simply revert to 1:14, 1:3, 1:1, or wherever true price-discovery puts it, and it will stay there, forever and ever, until the end of time.

>>22750910
Sapporo, I think.

Question /pmg/ anons, what happens when both dxy and bond yields rise?

>>22750952

In the future, I don't expect ratio-trading to be a thing any more. The GSR will simply revert to 1:14, 1:3, 1:1, or wherever true price-discovery puts it, and it will stay there, forever and ever, until the end of time. This is the last PM bull market. There is no second game of musical chairs.

>>22751012
>kirin ichiban i think

the kraken is here

>>22751015
The real ratio will never be fixed. Any attempt to fix the ratio results in arbitrage.

>>22750904
Their incessant kvetching only stands as testament to the nobility of the German rebellion against the semitic world order.

>>22751035
i ordered 2 of these at 60 each
im excite

>>22751015
What you’re saying is that this is truly the end for the fiat system of currency. You think that major global banks and governments, which are obviously intertwined, are never going to be able to create a speculative type of fiat economy ever again?

>>22750526
I lost so much fucking money the last week or so. When can we expect a reversal?

>>22751082
its beautiful and the excitement is real

>>22750698
Mine is like 9k relax, Sprott's probably lost millions. You'll be ok when the shakedown ends.

Powell is getting hammered right now

its really over for us isn't it bros
i should have dumped at $29
same shit as 2011, we'll just be sideways for another decade as everyone else makes bank

>>22751014
Forgive me if I over-explain / state things you already know
>When bond yields rise, it means that people are selling bonds.
Think about it like this, you loan me $95 and write an IOU for $100 - you sell it to someone else for $90 - the person buying it for $90 is now getting $10 (whereas you were only getting $5)
In other words, their yield went up

So!
Bond yields up = People are selling bonds
People are selling bonds = Demand for dollar up
(People would rather have dollars than the bond)

Hope that makes sense.
You shouldn't be looking at them as two separate assets independent of each other, both rising separately; it's because of bonds being sold off that DXY is rising
(there are a million other factors that are making DXY rise right now too such as all markets selling off [people would rather have dollars than stocks] / capital flight to 'safety' for the election, etc)

>>22751119
Eoy hypothetically

>>22750649
This should tell you something about the stock market, anon

Guys, we need to be listening to Steven van Metre. Guy is really smart. He has been bearish for gold in the short term and dollar bullish. And looks like his thesis is right.

QE is not inflationary. It's actually deflationary. It only creates inflation if it spurs more borrowing and banks are willing to lend. But banks aren't lending, so it's actively removing debt from the system which is deflationary. Debt = money and the more debt that is destroyed, the more currency is destroyed. Currency is lent into existence. If lending contracts and loans contract, either through paying down of existing loans and defaults on loans, then that is a contraction in the money supply and deflationary.

He says the dollar is going back up to 105 or so on the DXY. I jumped out of my miner stocks and into UUP for the short term and am not selling any physical whatsoever. Good buying opportunity for those still wanting to accumulate.

Short paper buy physical

>>22751174
>>22751014
Euro zone is also now going into hardcore second wave / lockdowns are starting (making Euro fall)
Euro just hit a (I think 2 year) high of 1.2000 - it's been bouncing from that since
In the DXY basket, the Euro is the most heavily weighted by far, so changes in the Euro/USD exchange has the biggest impact in DXY rise

>>22751159
Link
https://www.youtube.com/watch?v=ITJUuNgzirU

>silver is an investment
>silver is a store of value
>pays premium for nicer designs for coins that aren't even limited mint en masse
I can understand the $.1 to premium to avoid the big nosed Indian, but do you think your silver monarchs and animals will actually buy you more in the future?

>>22751160
Anons are such pussies. Keep buying over the decade if that's what happens. You're just gaining more time. But that's not going to happen. I wish it would. If you've been paying attention you'd see there is no clear way out of the debt trap. In the mean time there is a global liquidity crisis which is why the dollar is rising and gold is going down. This latest trend is about the dollar. Gold is just connected to those moves through algos. Nothing has fundamentally changed. But keep crying doom pussy

>>22751212
QE is not deflationary. It's a practice used to prevent deflation. Deflation is a result of a recession. You QE to prevent the deflation, but the deflation still happens anyway if it's a bad recession.
But there's the flipping point where too much QE destroys everything

>>22751014
People are selling bonds and into dollars. The bond movement is short term. Bonds will go back up (yields back down). DXY is going to 105.

Without anymore stimulus, we are facing severe deflation.

>>22751212
>QE not deflationary
Dude that’s just bc money velocity is shite due to Corona. Wait for it to pick back up and we’ll see this inflation

>>22751174
>>22751224
Thank you anon.

>lady from my street just dropped off 5 pounds of apples from her garden and sausages from our local farmer
>to make apple sauce she says, including her recipe
living in the middle of nowhere is damn comfy bros

>>22751212
This anon knows what's up. Also check out Jeff snider. Steven himself references Jeff as the guy he listens to learn what's going on

>>22751288
very comfy anon, i hate living in metro hell, i know im screwed if shtf

last 25 minutes looking bullish guys, so is GSR

>>22751238
Obviously there are limits, but nicer coins attract a premium when you sell, too.

>>22751256
Go actually listen to these people. I use to think like you. They're right. You're wrong. If you understand what they're saying all of these market moves make perfect sense.

When the fed does qe they create bank reserves. The dealer banks can buy those bank reserves. But they can't do anything with them besides lend against them. Which no dealer bank is doing right now because we are in a global dollar crunch

>>22751082
>>22751035
I bought 3 tubes of them when shit was, I dunno, like $62 each. Worth it they're dope as hell.

>>22751238
It's just nice to have pretty shiny things anon, I mean that's pretty much why silver has value in the first place

>>22751249
You lack economic understanding

>>22751413
awesome, were you the one that opened them like last week?

>>22751410
The government is threatening banks. Direct Fed injections to the people is immediate.

These conclusions only match up if one was to believe the government is principled and bound by its only rules... It's Not.

>>22751394
As it currently stands, sure. A LCS knows that a Korean tiger is worth more than a buffalo, but if you're ever just selling/ bartering with a norman will they know or care?
>>22751419
I understand having a couple, I'm talking about people that buy 20+

>>22751249
90% of this thread is about the economic system collapsing and the massive social disorder that would cause

but somehow an anon correctly questioning the investment potential of silver is the one crying doom, lel

>>22751256
QE is the Fed buying bonds. The banks that sell the bonds do not get cash in hand. The proceeds from selling the bonds to the Fed are put in an account at the Fed in the name of the bank that goes toward their reserves that they can lend against. Thus, the debt and cash are removed from the system UNLESS the bank lends. If the bank is not lending, this QE transaction just REMOVED debt from the system which is contraction. QE is deflationary, but is counteracted by lending which is inflationary. So in the period where QE was effective, banks were lending freely. Lending is what creates currency in the money supply. But when they stop lending, like now, QE goes back to it's deflationary effect.

QE isn't even a major deflationary pressure itself. The deflation we are really feeling is coming from the destruction of debt and the collapse of demand. If lending doesn't keep pace with the paying down of existing debt, then every loan payment destroys currency in the system. DEBT = CURRENCY. Every debt is someone else's asset. Every debt default destroys currency. We have lending tightened now so every payment and all the many debt defaults are incredibly deflationary.

It's not a mystery why the dollar is going up.

https://www.youtube.com/watch?v=dut7z6nsIHE

This guy is calling it right. I just became a dollar bull in the short term. Still a gold/Silver bull long term. But the Fed can't do what people claim it does. Only Congress passing massive stimulus bills can. We are going to see so much deflation here in the short term that they will be forced to do just that. Even Maloney admits that hyperinflation doesn't start until a few years later after the economy picks up again. It's only Congress and their spending that can create the high inflation that people in pmg are thinking is coming. If they are sitting on their hands, it's only deflation coming.

>>22751494
Please educate me anon. I'm a willing student.

>>22751549
I see. Luckily we are in a democracy so people voting to have money given to them is only inevitable.

>Cull/damaged libertads old design or
>brittanias BU old design
>spot + 3
Any recommendations?

>>22751410
Are the banks not lending due to the impending real estate crunch from the crapton of failed small businesses and rent payments? This would in turn cause them to hold on to the money printed by the Fed, right? So, when the margin is called, the money velocity will flow again very quickly.
Or am I retarded?

>>22751549
Except the Fed/Treasury forced banks to start lending last week. Huge loan growth in certain sectors. Also the Fed is seeking to make digital dollar to do direct injections. If that gets approved the game changes. For now you are 100% Correct. But always look out for events that change the rules.

>>22751522
I agree. But we don't have that yet. I am long pms. But I don't expect the moon mission to happen next week. Right now we are in a dollar crunch.

>>22751607
spot plus 3 for both? split and get both

>>22751651
Thats what I was thinking. Yes both are priced at spot + 3. Waiting to see what happens from this consolidation area before purchasing anything

>>22751648
Powell is being browbeat by politicans as we speak. We've got about a month before total system meltdown without stimulus.

>>22751508
Yeah just opened the one roll, playing with those thicc coins in a stack is fun.

>>22751531
>>22751238
>>22751394
At my LCS, the price is the same for three categories: ASE, foreign coins, then rounds/bullion, on sale and buying unless they're special somehow (like all their pandas are certified for collectors and such). I have no idea what it will be like if I tried to sell my stacks of a particular coin, I assume it's just the same value but maybe you can negotiate on a coin by coin basis.

>>22751592
Yeah, I agree. If you look at the big picture and human psychology, I think it's a REALLY good bet that it will come and that massive stimulus is on the way. Yeah, inflation will come due to the future actions of Congress, but we aren't there yet. So people shouldn't freak out if the dollar rises and PMs drop. That's deflation and what we have right now. It's going to take Congress to act, and I think they will eventually. Additionally, aside from the depression we are facing spurring Congress to act, we also are up against a debt wall. Rates can't rise because the debt to GDP is too high and deficit spending is not going to end. So even without massive stimulus bills, our structural annual budget deficits will force more debt monetization anyway. So I'm still super bullish PMs long term, but I think we have some really bumpy times ahead before we get there.

>>22751271
Yes, fisher equation. Go google anons

>>22751015

The game never ends, but you can win it for a while.

>>22751706
This. People need to realize the population is totally demoralized at this point. Stimulus is necessary to keep the entire ponzi going. Every day they don't pass a stimulus the worse things get.

>>22751249
I just bought $50 fv mercs. Tomorrow I'll get more First majestic, maybe GOLD, KL, and SLVP

i'm having another bad day...

>>22751637
This is approximately right. We are seeing short term deflation. Once 'real' money printing is going into the economy we will see things take off

>>22751772
this, i think this is entirely politics charade for november too

>>22751800
Glad to know I still have a few brain cells kicking. Thanks anon.

>>22751315
Thanks, fren. I will give him a look.

This could actually be a liquidity race with bank runs just around the corner. Whole world might be fucked already and have no clue about.

Not selling, tho.

>>22751212
>QE is not inflationary. It's actually deflationary. It only creates inflation if it spurs more borrowing and banks are willing to lend. But banks aren't lending, so it's actively removing debt from the system which is deflationary. Debt = money and the more debt that is destroyed, the more currency is destroyed.
You're off your rocker or need to write this better
>asset taken on by fed
>banks have more cash
Taking debts/assets into the mits of the FED is not destroying currency. No idea where this idea came from.

ITT (and every PMG for eternity):
>BUY SILVER
>OH YES I WAS WRONG THE DXY IS BULLISH
this is what happens when you schizos think you're going to find alpha in the markets. you all are bad investors. cash is king, baby.

But everybody who thinks Hyperinflation will hit should know that it almost always goes in hand with a prior deflationary period - so why aren't we all picrel right now? Its all good, few years from now you will be happy you stood through the storm with your shiny rocks. And hopefully nobody here needs to liquidate his whole Stack right now or even ever.

>>22751930
k

do i do it anons?

>>22751637
At this point, I think we are going to need to see the Treasury guarantee loans in order to see more lending. Even if the banks start lending again, we would need to see people wanting to borrow. How many tens of millions are out of work? These people aren't taking out loans to buy homes. There needs to be demand for lending too and demand is really weak right now. We would need to see actual economic recovery in order to see that. We will at some point, but Congress is going to need to be the impetus at this point if we wish to avoid prolonged deflation. Either Congress needs to pass stimulus spending and/or they need to guarantee loans against default. Politically, it seems like an inevitability that they will do some combination of measures, so it's a safe bet that we will see high inflation as a result of this ultimately. But until that happens, don't be surprised if the dollar surges and PMs tank. I agree with people smarter than myself that the dollar going quite a bit higher in the short term.

>>22751974
If you can buy more if it drops more I would. Otherwise I'd split the purchase in half to dca in

>>22750945
Yesterday when it was a buck higher I got some 10 oz bars for 27.25 an oz from my local dealer.

>>22751707
>selling coins... to a LCS (and not directly to those with a specific interest in what you have to sell)

For what purpose?

>>22751930
The problem here is people confusing investing, trading and hedging. I like PM's as a hedge for a very specific thing, slow erosion of dollar value. Its not about making huge sums of money, its about preserving the value of my time and energy for a date in the far future. The cash I save is for a date in the near future. PM options are for speculation of the near future. Miners are an investment for dividends & appreciation in the near-med term. I agree with you 100%, most do not understand portfolio composition.

>>22752021
got plenty of fractional and smaller amounts, this would be the kind of the big asahi pile

>>22751714
>inflation will come due to the future actions of Congress
The production shock to raw materials and manufacturing is probably the much bigger issue. It seems somewhat permanent.

>>22751961
>why aren't we all picrel right now?
I vaguely seem to have timed it wrong, otherwise, I'm smiles

The dollar bull run is just about over. Nothing has changed, the Fed is still brrrrrrrrrrrrrrrrr. Physical silver is the buy of a lifetime right now. Hope it drops a tad more so I can get some more bars

>>22752052
All I'm saying is that it could drop more and if it does you will want some cash on hand to buy more. But it could also go up so if you're completely fine at that price point go for it

>>22752131
i see what you mean, maybe i should tell myself no just this once and hit my lcs for more mercs

>>22751549
>Thus, the debt and cash are removed from the system
When you pay off a loan the debt and the cash you borrowed "anihilate".
When the FED buys bonds they get removed from the system, but the cash that the government borrowed by emitting those bonds isn't being paid off and keeps circulating.
QE might not be inflationary if banks don't lend, but it's definitely not deflationary. There's no way for FED to remove dollars from circulation this way.

>>22751637
>This would in turn cause them to hold on to the money printed by the Fed, right?
They're probably using the money to meet their DOBI requirements

>>22752045
>preserving value
>literally down 20% since a couple months ago on all mining stocks.

>>22752164
What id do is think about what price point you'd use the rest of your cash at and then do some math to see what you'd save (or how much more silver youd get). Then see if the possibility of it dropping is worth it to you or if you are fine getting in now.

>>22751315
I'll give your Steven Van Metre a chance but it's hard to take Jeff Snider seriously anymore after I saw him on George Gammon. The guy said with straight face that we are currently not seeing inflation. Like are you kidding me, have you not looked at asset prices for one time? Just zoom out any major stock index and tell me that this looks like normal behavior and not Venezuela style hyperinflation? He was saying that overall we are not facing inflation because all the useless consumer shit is getting cheaper while everything that we need to live, i.e. food, utilities, housing etc is getting more and more expensive. Honestly the guy sounded like some government troll telling the masses that everything is fine and your purchasing power is safe don't worry. Even though everything essential is and asset prices are basically hyperinflating which this "expert" who is crying DEFLATION is completely and utterly oblivious to.

>>22751586
Liquidity is not correlated with the dollar index, and the dollar index is not correlated with gold.

The dollar index is measured against a basket of other fiat currencies. Not against gold, nor inflation.

The price of gold is reversely correlated with bond yields. Low bond yields are correlated with inflation.

Inflation and the velocity of money are two separate things. Velocity of money is also a measurement of liquidity.

Pumping the money supply to increase the velocity of money may fail. However, if there is more units of currency per units of product, the prices of product will increase. Especially when GDP / economic output is decreasing at the same time.

Further, monetary creation does not necessarily trickle down into the economy. There are only two ways for it to do so: 1.) Loans given to consumers or businesses. 2.) Direct stimulus to consumers, or to employers to extend employment.

Banks are so leveraged they are increasing their criteria to extend consumer loans making the less available. The Fed needs another stimulus for their increase in monetary supply to increase the velocity of money. The Fed has been buying securities as an attempted alternative to stimulus.

With or without stimulus, we are in a situation where the GDP is falling, and the monetary supply is increasing. With or without an increase in the velocity of money we will experience inflation, unless the production of goods begins to grow at a rate which can outpace monetary creation. Increase in M2 and M2V without an increase in GDP will accelerate signs of inflation. With a lower M2V in this scenario, signs of inflation will show themselves in large asset classes more readily before becoming apparent in everyday goods.

>>22752224
>literally not reading that he said miners are near to mid term and not a store of value

>>22750412
Vurr nice, what is?

>>22752272
>dollar index is not correlated with gold
Objectively false
You sir, are an idiot.
Jesus Christ - you literally couldn't be more wrong.

What do you think boys? It comes to $25/oz when I use a coupon SDbullion gave me.

>>22752303
not sure, think someone said italian 50 lira from 1911

>>22752226
i bought just under a kilo yesterday for like 26.50 an oz, got lucky. really not sure what to do and maybe thats a big enough flag, appreciate the thought anon

>>22752382
Buy it

>>22752382
buy, no downside

Anyone else more excited that the spot has dipped than when it went up? I guess it’s more silver for me.

>>22751238
I only ever buy bars, but I don't see any problem in paying a little extra for a coin with nice picture on it once in a while. It is kind of a cool novelty, and to an extent you will get a higher premium for it when you go to sell.

Not the most efficient investing strategy for sure, but if you want a cool coin or two in your stack, I say go for it.

People who only ever collect picture coins with a higher premium are screwing themselves though.

>>22750910
Toshiba

>>22752272
>The price of gold is reversely correlated with bond yields. Low bond yields are correlated with inflation.
Addtl note: low yields set by the fed and sold at the window are to promote inflation, but if yields on the market drop, it should denote deflationary expectations. In an inflationary environment, investors will demand higher yields. The intervention of the FED in the markets and the state executive branches via their banking and insurance departments makes a lot of these signals really hard to follow.

>>22752444
Yeah now I'm just nervous it won't stay down because I spent a large part of this paycheck Friday and I'm biweekly. Dont get my next check till next Friday. Still have my savings to buy in if I see a reversal

>>22752166
The cash does not circulate. It goes into a restricted account at the Fed that they bank cannot touch. It only counts toward reserves that they can lend against. It does not circulate. I think that's a fundamental misunderstanding people think is happening. They think the money the Fed uses to pay for the bonds goes out into the economy. It doesn't. It is restricted. The only way that it can make it's way out in any form is with lending against it. If there's no lending, it's net deflationary. The net effect is that a bond was taken off the market and the bank lost liquid assets. The bond coming off the market raises the price of bonds (lowers supply) which has the inverse effect of lowering rates. It's deflationary, but it's no where near the biggest deflationary pressure we are facing right now.

>>22752338
It's correlated, but can easily move independently. Correlation not causation. DXY can be 105 and gold can be 1MM USD/oz

>>22752257
Steven Van Meter, Harry Dent, and all the other dollar bulls. If you listened to them the past 6 months you would of lost most of your money. They might be correct for the past few weeks here, but so what. Don't listen to these shills.

>>22752457
I do better on numismatics than bullion. It just is better appreciated even if the bullion market is kicking off.

Cmon silver go lower I wanna get 20oz today.

GOLD STANDARD JUST MENTIONED AT POWELL TESTIMONY

Silver should go up now, right?
Is this trend line relevant?

>>22752728
meme lines are never relevant

>>22752531
>If there's no lending, it's net deflationary.
Right, but as that anon and others have pointed out is that the action itself is not deflationary. I think you're forgetting that an economy is net production (really welfare) and there really isn't anything inherently deflationary about sliding a "loan" over to the banks to give them liquidity.

>>22752531
No it's not you fucking moron. It's inflationary because without it happening, there would have been less money because the bonds would be worth less than they are without the bond purchases. Besides the obvious fucking fact that new money had to be created to purchase the bonds in the first place. The fact that the money is forced to stay in financial assets changes nothing.

And guess what the secondary effect of those bond purchases was? Record corporate issuance at record low rates during a record recession.

Fucking technicians

Reminder that silver is a horrible investment. There's an over supply of it and it's inferior to hold on every way. You're wasting the power of your income compounding by buying silver. Only buy gold

>>22752544
We shall see. I am convinced enough to have sold my miners yesterday and bought UUP (dollar bull ETF). If I'm wrong, I'll lose money. If not, I'll make some. I definitely plan to get back into miners, but later. I'm not parting with an ounce of my physical. It sounds crazy, but I have 3 toz gold and 500 toz silver and I just bought a dollar ETF lol. But right now, the dollar bulls have the better explanatory power right now by discussing the actual mechanisms going on and it matches up with what I'm seeing. Yes, big picture, things will ultimately turn out differently, but the immediate reality is what I'm going to trade on.

>>22752728
Here I am buying another 140 Oz silver today.

>>22752224
The dividends from miners is well worth the hold. Silver staying above 20 dramatically changes these businesses.

>>22752728
Well, TA is abut probabilities. Have you done backtesting to determine what % chance of a breakout there is?

>>22752257
Ok holy shit this guy is obnoxious and I just can't finish watching that. Every time I open some dollar bull video I am genuinely interesting to here to counter arguments against my own view, if I am wrong if there is something missing. However, this is another one of those times were viewing the opposition just further proves my own stand.

So first of all this guy is talking about the official CPI when talking about inflation. Completely obvious to the fact it's manipulated as fuck and furthermore a lot of key items such as housing costs are completely left out. Second he is not worried about the increase in M2 money supply because savings are going up and that is deflationary? Yeah, well I guess it is deflationary for now but eventually the velocity of money will pick up again and all this hoarded printer money will unleash upon the economy. So the increase in M2 money supply is actually extremely inflationary which this guy does not understand the low velocity of money is only momentarily diminishing the effect but as I said it's only a matter of when. When people stop speculating and stop hoarding and start consuming we will see broad based inflation because of the inflation in the money supply.

>>22752888
>the actual mechanisms going on
What mechanisms? I think you are playing with fire.
>supply chain disruptions persist
>production not back to normal
>dollar stronk?
Maybe if you're saying it's against other nations. I'll believe it's a liquidity crunch. Other arguments are likely derived from bullshit. Schiff probably has it right.

>>22750526
I spent my time warning you the miners were at the top. They still are overpriced.

>>22752860
You think the gold silver ratio will never improve?

We've lost.

>>22750526
Should a Prepped the BHLL, frens. Been pretty stable between .42 and .5 since I bot. Just one day mulligan to .38.

Dont say I didnt tell you

>>22753004
>They still are overpriced.
Under. Tankers are under, oil producers are under (forward looking), consumer staples seem fair. Discount stores got bumped to over this quarter imo. Please let me know of other undervalued sectors. I don't like my weighting at all.

>>22753121
Uranium, Coal

>>22753121
The steel industry

SILVER DOWN 15% IN TWO DAYS
>SILVER DOWN 15% IN TWO DAYS
SILVER DOWN 15% IN TWO DAYS
>SILVER DOWN 15% IN TWO DAYS
SILVER DOWN 15% IN TWO DAYS
>SILVER DOWN 15% IN TWO DAYS

AHHHHHHHHHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>22753004

No; miners have never been cheaper in human history. Nothing even slightly overpriced about them. This kind of correction has happened in all previous bull markets. Go look back at the GDX from '08 to '11. First you had the equivalent of our March crash, then it soared, then continued to rise; but, on the way to the top, you had several corrections between 10-20% from the local peak. GDX is presently down 14% from the local peak. All other miners are a reflection of this.

>>22751119

>>I lost so much fucking money the last week or so. When can we expect a reversal?

Whenever any one of these things happens:

1) U. S. government begins massive stimulus, and the Fed turns the money-printer back on;

2) We get the banking crisis which Alasdair Macleod keeps talking about (and you really don't want to get caught holding cash when that happens);

3) We get an official COMEX default.

All three of these things are inevitable, and at least one of them is almost certainly going to happen before the end of the year.

>>22753121
yeah... miners are hated.. utterly hated, no one is in them outside of fringe investors and fringe speculators (who are being driven out by price drops)

Long hold is still looking good, stonks are all tanking today, everything's tanking today except the dollar.

>>22753201

>>This kind of correction has happened in all previous bull markets. Go look back at the GDX from '08 to '11. First you had the equivalent of our March crash, then it soared, then continued to rise; but, on the way to the top, you had several corrections between 10-20% from the local peak. GDX is presently down 14% from the local peak. All other miners are a reflection of this.

By the way, if anybody wants to see proof of this, here it is.

>>22753201
>No; miners have never been cheaper in human history
They were 4 times cheaper literally 6 months ago...

>>22753172
I like uranium, but I'd like better cash flow. I'll be sitting heavier in PM for the time being, but I'm picking up uranium.
>coal
That's a new one. I'll look into it. Chinese need it?

>>22753174
Not as confident in iron and steel. I'm not sure where the demand will come from. I have a small position in Labrador iron, Vale, CLF, probably will pick up Rio tinto sooner or later, but it's more of a play on commodity prices, not steel industry.

>>22751097
>>22753201
Anon, your thoughts, please

>>22752720
Link faggot

>>22752810
Yes, during the last 10 years. Now? Not so much.

Your explanation is based upon shadow events that can only be speculated on but are not playing out. Meanwhile, Steven is calling things and they are happening and also explaining things in logical terms.

>>22753286

I'm speaking with reasonable hyperbole. Look at my picture. >>22753201 We're going from that bottom where we are to the peak in 1984 and probably beyond that. Does it make a blind bit of difference whether you got in today, two months ago, or six months ago? If you make an 800x gain on your silver stocks or a 1000x gain? At some point it doesn't even matter any more.

>>22753317
>Your explanation is based upon shadow events
If you're using numerical data and not general trends/relationships/incentives, you're fucking retarded.

>>22752720
>GOLD STANDARD JUST MENTIONED AT POWELL TESTIMONY
Gold standard is another Jewish trick. We need silver too otherwise they just corner the market as they have the gold. Greenbacks are superior currency. PMs are superior to debt based fiat

>>22753000
But if75% of the world's debt is denominated in dollars, then there is going to be demand for them. If we were talking any other currency, I would agree with you, but we aren't. Nothing that we are doing is enough to overcome the tremendous deflationary pressures we see. Until Congress begins to stimulate with spending and loan guarantees, dollar has nowhere to go but up.

>>22752338
https://www.youtube.com/watch?v=pEoQxswZvLA&ab_channel=GoldSilverPros

Learn a bit more.

>>22753403
Yeah, dollar and gold can both rise at the same time. Gold price is heavily correlated with real interest rates.

>>22751097
>>22753310

>>What you’re saying is that this is truly the end for the fiat system of currency. You think that major global banks and governments, which are obviously intertwined, are never going to be able to create a speculative type of fiat economy ever again?

Yes. This is _the_ end of unbacked paper currency. We only have an unbacked paper-currency system right now because of a unique historical circumstance. The U. S. was the greatest survivor of the worst war in history, people fled to its currency, wrongly thinking that the dollar was as good as gold. The U. S. pulled the rug out in 1971; and, when the dollar collapses, and it _will_ collapse, because the debt trap is inextricable, we _must_ go back to another world reserve currency which is based on something real. Everybody knows this, this is why China is buying commodities, and every central bank is hoarding gold. This period in human history will be looked upon as a bizarre historical anomaly, just like the period of John Law in France.

>>22753388
It doesn't change that the total amount of goods and services that the usd represents or can be exchanged for is dropping. The actual strength of the dollar and all currency is dropping. Economies are net welfare and there is a reckoning happening where we're not only realizing that we have a bunch of glut programed into GDP and that we've wasted a hell of a ton of resources and labor, but we're also producing less. I think you're missing the point.
>Nothing that we are doing is enough to overcome the tremendous deflationary pressures we see.
The production destruction is really doing a damn good job. Do note that It's uneven.

>>22753493
If real yield goes negative long enough, gold will be a better choice than bonds. It does nothing, and isn't a liability for someone else.

>>22753506
So this is why you speak about the "greatest wealth transfer in history": we're literally about to experience it in the coming years, and those who hold metals and metal equities, will be on the positive side. I'm just trying to wrap my head around all of this.

>want to sell my 100 alexco share to get more smallcaps dips like impact
I will lose like 20$ but as a wageslave, it still hurt since I cant invest a lot each month

which of gold or silver is better if i have limited funds?
this feels like the last chance to get in

>>22753593

Yes. When the dollar gets dumped, all the other fiat currencies lose almost all their value as well, because they back themselves with U. S. treasuries. At that point, the game of musical chairs stops playing, and only those countries who are holding tangible things will have any real wealth. All the countries which have hobbled on by borrowing money during the past couple of decades--Britain, America, etc.--without having any real industry or savings, will get wiped out, while formerly second- and third-world countries will boom. This is why Peter Schiff and Rick Rule are so heavily invested in foreign stocks.

>>22753593
Add raw producers, commodities, and income producing assets denominated in currencies that aren't dependent on USD.

>>22753519
But you can have deflation and price rise simultaneously. Shortages can hit prices on specific things independent of the actual supply of money. We can see asset deflation and finished goods price increases. There are obviously lots of factors at play here, but if we are talking monetary policy, everything is screaming deflation until Congress makes it scream something else.

>>22753717
depends on local market and what you consider limited, probably silver

>>22753506
I agree with what you say, but how would you explain how they've managed to push it on for a half-century. I can never sum it up well.

How much longer do you think this era will last?

damn bro
the jews really, really dislike 23.150 silber

>>22753736
This is very important to remember. Look at the population of people. More people, more foreigners invading the US, means more people fighting for the same amount of goods. Now remove supply. What do you think happens?

>>22753799
We're an administrative district of competing tribes fighting over the same scarce resources and the same levers of power. Many of those tribes have formed a coalition against the dominant tribe. Yeah, I don't think this ends well.

>>22753778
It's hugging the 23 line so tight. It's hilarious.

Anons, what do you think about moving to Argentina once their hyperinflationary episode is finished?

Currently based in Sweden/EU but I feel a meltdown is coming especially considering the outrageous amounts of debt individuals and families hold here not to mention the imminent implosion of the Euro. I think it would be better to get ahead of the crowds before everyone else here rushes for the exits and the inevitable welfare state collapse, and since Argentina is currently going through this they'd likely come out the other side with low taxes and no central bank kikery.

COME ON GOLD, WE CAN DIP DEEPER!

>>22753914

I should add that I have been looking at some other countries but I feel Argentina and possibly Uruguay are the places where I'd feel more at home for cultural reasons. India is also interesting but I'm not convinced they will cut government in a worldwide fiat collapse scenario. From the argies I've spoken to apparently most people over there are pretty redpilled on fiat currencies and general socialism after what they've been through.

>>22753893
yupp

>>22750369
MY PAPERWEIGHTS ARE WORTHLESS!!!!!

>>22753976
>>22753914
lmfao

>>22753717
Silver first, then gold if you have anything left over to invest in it. Silver has way higher upside, and when the gold silver ratio has price discovery you will be able to trade your silver for gold at a much better rate if you really want to.

I won't pretend to have an opinion worth a damn but I appreciate the discussion about the macro implications of QE etc.

What I do know is my stack keeps getting heavier every day and I sleep well because of it. Thankfully scrapping has kept my DCA pretty attractive but if we go back to spot+premium below 20 and crab a while I'll have wasted lots of time over spring/summer.

Blew 2/3rds remaining dry powder Mon/Tue like a noob but still have some for more miners and maybe a bit more gold (I like that 50g combibar), gotta get the stack ratio back down around 1:1,000.

No real worries as we all knew it would be an interesting ride and another good hammer was expected. I'm not mentally prepared for a 2nd 10+% hit if another is coming soon but it still won't change the real fundamentals or my own mid/long term strategies.

It'll make me feel like a schizo again like in February waiting with anxious bated breath for the imminent market crash while it just kept surging upwards. It was a really bizarre headspace to occupy back then. I was quite spooked and questioning my self, senses and my instincts all through Feb until it happened, which was truly a great relief and confidence boost personally (yay I wasn't crazy!). Just as the March market crash was made a reality when the repo market shat itself last September and COVID was released at the Wuhan military games last October, the (personally) inconceivably vast global fiscal, monetary and economic forces that have been set in motion guarantee that we stackers and real asset holders will find ourselves on the right side of the cataclysmic global implosion of paper wealth that seems inevitable.

Stay strong in grip and in spirit stackchads, this bull is just getting started and we will have a world to help rebuild once we all have the buying power of millionaires on the other side of this.

The state of copper stackers

>>22754037
IM A NEGLIGIBLE MATHMATICAL VALUE AMOUNT NOW AAAAAAAAAAA

>>22754037
Just deflation, dollar is pumping cause there’s no stimulus, you can bet Trump buxx are on their way and will be deposited just before the election, hope gold dips back down to 1488 so I can buy another oz

>>22753736
You're right about price increases w/o changes to money supply. Can't really say we're going to be asset deflationary. I don't see it being significant especially in the mid term unless we go full day of the pillow.

>>22753799
I'm betting on stagflation

>>22753776

The answer as to how the system gone on so long is, America and Britain were the two richest and most powerful countries in the history of the world. We had to fritter away all that wealth to get to this point, and so we have. Everything which our forefathers built for us over the course of centuries--all their struggles, all their hardships--we cast it all to the winds to serve our luxury and vice. We have no industry, no savings (i. e. gold and other tangibles), and we fund ourselves only by borrowing money. But as real yields are now deeply negative, a bond market crash is inevitable, and nobody has any reason to prop us up any more. We are finished. All the money is gone. There's nothing left.

>>22753776

>>I agree with what you say, but how would you explain how they've managed to push it on for a half-century. I can never sum it up well.
>>How much longer do you think this era will last?

The answer as to how the system has gone on so long hitherto is,--America and Britain were once the richest and most powerful countries in the history of the world. We had to fritter away all that wealth to get to this point, and so we have. Everything which our forefathers built for us over the course of centuries--all their struggles, all their hardships--we cast it all to the winds to serve our luxury and vice. We now have no industry, no savings (i. e. gold and other tangibles), and we fund ourselves only by borrowing money. But as real yields are now deeply negative, a bond market crash is inevitable, and nobody has any reason to prop us up any more. We are finished. All the money is gone. There's nothing left. We might hobble on for a few more months or couple of years, but that's all.

There's so few hand poured 1 ounce bars right now.
Th best thats coming up on the market regularly is 2 ounce silver bars and 3oince silver bars.

I think this is why many are opting for pictorial ounces.

>>22752444
Witnessed, hope it goes down more

>>22752444

>>22754191
A small silver lining, our intangibles and natural endowments (in the US and her neighbors) are still beyond comparison. The sheer amount of human capital and experience documenting and organizing is more than enough to put us on equal footing with other nations that hold tangible wealth. We could, with pain and difficulty catch up and lead in under 20 years if the government lets it happen.

MY PAPERWEIGHTS!!!!!
WORTHLESS!!!!!!!

>>22750414
got a name for that bar? I havent seen that one before.

>>22750369
this is peak opportunity. look at 2011's bull run. it had a fat red month haflway up. bet you all the faggots who sold then were upset, too.
all of this has happened before. all of it will happen again.

>>22754438
or it wont - but neverthless I am buying more silver...and more and more

I bought the top of gold and silver miners?

Am I fucking retarded? Should I rope?

Are these fees real on Peter Schiff's gold fund?

https://twitter.com/RouletteKing4/status/1308813814498877441

>>22753403
>>22752272
https://youtu.be/pEoQxswZvLA?t=732
"See how the dollar fell hard here and gold only rose a little bit"
>literally retarded - the price of gold rose 100% in the period he's referencing - it's all about relative prices
"See gold didn't go to 1900 here when the dollar fell hard, therefore it's not correlated to DXY"
You can't compare the gold price rises then to the current gold price.. it's all about the % gain then relative to the decline in the dollar..

"01 to 11 you can see how gold is moving while dollar isn't falling"
Bruh, you can literally look at every peak & trough in the dollar, and you can see it peak & trough in gold while it's rising (in his chart)

"Gold doesn't always move in opposite directions of dollar"
Nobody is saying that they ALWAYS do; but to say they are not correlated is literally retarded

Please try day trading gold & silver for a month, and tell me if you still think they're not correlated.

Also, he's using data from 1970 to try and argue "see dollar rose here & gold rose too!"
That's literally retarded. You cannot compare the two times - how can you possibly compare the ending of the gold standard period to the present day

>>22754490
Buy more two more times

Holy fuck this dollar bottom

Reminder that PMs and especially miners still have a long, long, LONG way down yet to go.

>>22754387
>>22754241

>>A small silver lining, our intangibles and natural endowments (in the US and her neighbors) are still beyond comparison. The sheer amount of human capital and experience documenting and organizing is more than enough to put us on equal footing with other nations that hold tangible wealth. We could, with pain and difficulty catch up and lead in under 20 years if the government lets it happen.

I'm an Englishman, so unfortunately I don't have this consolation. I have no idea what the future of this country is--only that it is unspeakably dark and depressing. America _does_ have the resources to recover, but the country is so divided that I expect Balkanization when the system collapses. This would be the best thing for its future. The Constitution was a mistake. Every state should have been allowed to go its own way and live as it saw fit from the beginning.

>>22754490

>>I bought the top of gold and silver miners?

No, see >>22753201 >>22753285

>>22751930
Every dollar I own is dwindling in value right now by central bank theft, cash is not king.

>>22754490
>local top
Long term, miners are good. Short term, no equities are safe.

please keep dipping i want all the cheap silver i can get. ill fuckin sell my kids for anything below $20 spot.

>>22754632
This
DROP MORE WOO

I bought a few pms at my lcs yesterday. I thought I had a good deal. If I had waited today or even until thursday. I could've gotten a much better deal.

FYI guys, keep an eye out for Equity Metals Corporation changing their name and changing the name of the Silver Queen mine they hold. Two of my contacts in Houston that are currently working on the project say the companies already making new signage and getting ready to move offices. This company is financial toxic waste and its operators should be black listed.

>>22754554
Yep. This is what smart people have been saying. I was shrugging them off. They said soon we would see a break upward out of the long bottom. It did that so I bought UUP. They are targeting 105. I'll ride it.

>$1866 gold
>$23 silver
Need me some cheap silvy

>>22754556
If the reality we're imagining comes true, and the UK gets smacked one of our Balkan states will need labor and middle management. One will have lax immigration/sponsorship rules. Schiff was just looking for call reps. Too bad I'm on another side of finance. I wonder if he would pay a rep in gold.

>>22754533
>>22754556
>>22754592
bruhs there isnt a motherfucker dumber than me

I didn't even do basic TA when I bought,
look how bad this is

>>22751075
The only one incessantly "kvetching" here is you.

So what are the best deals on physical you've seen today, /pmg/? Especially attractive dips on miners?

>>22754682
I'll send you an ATB if silver spot+premium goes under and holds under $23 through November. Gold bottom is well above 1600. Barrick and Kirkland are still undervalued.

>>22754632
family first anon, also
>you had 5000 calendar years

>>22754684
I think 23 is the literal bottom for silver going by the kitco chart. It's following the TA an anon posted a while ago. Does that anon have a chart for gold?

>>22754750
I'll level with you. I'm bullish on miners in the long term. But after the lack of stimulus bill and the trend in the markets, I sold all my miners. I'm happy to ride the trend wherever it goes. Right now, the dollar looks good and equities are risky. So I rebalanced accordingly.

>>22754771
Id pick first majestic and gold majors. I'm watching endeavor and FCX. Nothing really spectacular on the physical front for me.

>>22753092
I think that it's an arbitrary line. There's also a cola/pepsi ratio, a snss/lci ratio,.... It means nothing imo.

I went all in on First Majestic, Endeavor, and Discovery.

Impact didn't dip as hard as i wanted for an entry point.

Am I going to make it?

>>22754801
Stay near the door, anon.

>>22754773
After the election all bets are off. But if Congress isn't going to act before then, I think it's bad for PMs and good for the dollar. I agree that Barrick and Kirkland are great values, but I don't want to baghold if they are going further down. I'd rather buy in later.

>>22754750

Don't worry about it; look at this chart. The 20-30% corrections in previous bull markets look utterly insignificant when you get some true perspective on them.

>>22754869
Yeah. My ticker is always near me lol.

>>22754791
exactly, the family goes to auction first, then we can worry about what else I can liquidate. its a ruthless game son, the market has no heart

>>22754854

Nobody is selling Impact because they know the earnings are going to be amazing.

BHS is down 13 percent, would recommend buying.

>>22754554
zoom out kek

lmao 1,000,000% gain!
wtf!

So this is actually getting pretty bad now

>>22750369
>>22754869
>>22754891
>>22754897
>>22754918
>>22754921
>>22754921
airdrop at telegram: to yeetornottoyeet

>>22755076
>1 post
just for that, im buying more right now

>>22754962
Would've bought if I didn't already own enough of BHS

>>22754897
I just can't believe those dipshits at congress haven't passed any fucking stimulus bill

Looks like it will continue until post election

Not a fan of this uncertain environment. I don't agree with QE= deflationary thesis but the fact that banks aren't lending doesn't lend to inflation thesis either

>>22755076
It's a deflationary depression that was propped up with stimulus spending and eviction moratoriums. As soon as they dropped the ball with the second round of stimulus, it was guaranteed that reality was going to set in. We will probably see worse until Congress gets pressured to get a deal done. But if you are worried about the price right now, just see it as a buying opportunity (if premiums drop).

>>22755109
I’m worried leave me alone
>>22755197
I’m loaded up on margin

>>22754681
Did you just say SILVER QUEEN? Do they have any relation to Golden Queen? That would explain a lot of the fuckery I saw with their operation in Mojave.

>>22752531
Here are the sticking points for me about your views on QE Mechanics:
>the debt and cash are removed from the system
When Primary Dealer banks buy from the secondary market, they credit cash deposits to the institution that sold them the treasuries. So this "cash" is still in the economy.

There are some smart brain fags like Jeff Snider who claim that this cash is auto-created by the Primary Dealers on behalf of the Fed. There are others who say Primary Dealers have to use their own capital to purchase the bonds. In either case this is not removing any cash from the economy, just trading it.

What am I missing here?

>>22755231
Why dude.

>>22755185
If you're familiar with the reserve banking multipliers, then it might click a little better. Inflation really comes from lending activity and debt monetization. If you recall, a 10% reserve system ends up multiplying the money supply by a factor of 10 because of recursive lending of the same dollars. But if that lending isn't happening, then the multiplication isn't either. Instead, it's contracting. When I say QE is deflationary, I don't mean that it creates deflation. I mean that the act of QE is deflationary itself, but that the goal is to create an inflationary environment. It has to act deflationary to bring down the rates, but the goal is that the lower rates create an inflationary environment as it drives demand for lending (people borrow more when rates are lower than if they are higher). So QE itself is deflationary, but it's goal is to spur lending, which then ultimately creates the inflationary environment.

But it completely depends on lending. If QE happens but no lending, then it's a deflationary force without the needed piece to actually spur inflation.

And yes, DC is fucking retarded. The longer they wait, the more panicked their reaction will be and the more they will overshoot. Obviously, that's what many in pmg have as the basis for their own thesis...things will get bad that Congress will give us a cure worse than the disease.

>>22754531
Dollar index measures relative to other fiat currencies. It is not necessarily an indicator of purchasing power against the value of hard assets.

Gold is a hard asset, which when measured in USD (setting any market manipulation aside) does reflect the value of the dollar. This comparison is not the same measurement as the dollar index.

The dollar index is not measured against hard assets. The dollar index will not show true inflation if the fiat currencies it is measured against are also experiencing inflation. It is possible that the dollar may be losing value against hard assets, yet the dollar index may increase.

It is because of this I say there is no direct correlation.

Gold price has a direct inverse correlation with yield rates. The dollar index may not directly correlate with yield rates.

This is not to say there is no relationship between the USD and gold price.

oof... TLSA dumped more the silver today, same with WKHS and lots of other SMG darlings.

No wonder PMG is getting flooded with these idiots.

The only people I listen to from SMG also seem to be the people I listen to in PMG. Some smart people xposting

>>22754556
Can you speak to the potential role (or lack thereof) a "Fedcoin" would play during and after a major financial market meltdown?

So decided to diversify bought 30+ leafs. If I put them immediately in those caps will they stay shiny?

Would you, /biz/?

https://www.universalcoin.com/2020-1-oz-donald-trump-silver-round

silver is now 19,59€/oz

Its over buy just buy USD coin before its too late

>>22755550
no

>>22755376
I don't think it's auto-created. The cash for the sale on the secondary market does indeed stay out there, but the primary dealer who sells it to the Fed with QE repurchase has it tied up. The net effect is that the treasury/bond is taken off the market reducing supply. The proceeds from that sale is then restricted and can only count towards reserves at the Fed for lending purposes. But if lending isn't happening, then these funds sit there and cannot be used. So we end up with fewer liquid assets in net.

>>22751410
>But they can't do anything with them besides lend against them

Sorry but this is another sticking point in Steve and Jeffs' theories.

Banks don't need any reserves to lend against. As of March 2020 the reserve requirement in the US is 0%. In Europe and most of the West, it has been 0% for years.

Banks can literally lend against NOTHING, but are simply not doing it. Bank reserves at this point are used primarily for intra-bank transaction liquidity. AND they earn a small% interest at the Fed.

>>22755683
You are both correct. They do not need bank reserves to be able to lend anymore. But they also cannot actually spend the reserves. When the Fed buys assets, the money goes into the reserve account. Not to the banks for them to pay employees, or buy stuff etc... The money effectively is parked.

>>22755470
Same thing after 2008 at best, false confidence that let's the system hobble on. It depends on how the coin is designed, but it's likely nothing good, especially for personal freedoms. The best result I can think of for would be a second inferior currency for pensions and welfare that floats against usd or, less optimally, a superior currency that's backed by metal like Europe is testing.

>>22755376
Just affirming the other anons answer. Good question and critical thinking for asking this question. You're going to make it

>>22755683
I agree. I wasn't claiming they need the reserve there to lend against. Just that's how it could be used. Otherwise it's restricted

>hesitating between Tinka and Klondike Silver as a core position
I've a few core position and would like to add one, which one anons ?

>>22755406
Agree with your points anon.

These banks rather sit on their reserves earning IOER instead of lending it out to the real economy. And who can blame them with this political shitshow that is going on rn

My mistake was not just putting a trailing stop and calling it a day, buying back in at a point like this.

Well lesson learned, but I am new to the market, started in early april... so yeah.

>>22756044
>who can blame them with this political shitshow that is going on rn
>not the financial shitshow from 2018 onward

>>22755981
one of the anons I find who offers good advice advised Tinka, do your own DD but it sounds good to me.

>>22750526
Im about to buy impact. Can anyone give me a rundown on why it is good or bad? I spent about two weeks researching bayhorse, purchased and now I'm moving on to impact

>>22755489
It's not guaranteed but yeah. Maple Leafs and other RCM coins don't milkspot as quickly as other bullion coins seem to do

>>22756359
*since 2018

>>22756358

"Impact Silver. No debt, 8 million in cash; a producer for 10 years, market cap is only 150 million. Its property is colossal: 3x larger than the country of Liechtenstein. It is the 2nd-oldest silver property in Mexico, and has hundreds of abandoned silver mines all over it going back to the time of Cortez. The district has produced about a million ounces of silver per annum during the past 500 years, a total of half a billion ounces. CEO is a silver bull who has out-survived his competitors for 14 years, in bull and bear markets. Impact is the purest silver producer in the world: 90% of its product is silver."

Are we gonna see $1825 gold this week?

DO I FUCKING BUY MORE SILVER OR WILL IT GO LOWER?!?!?!

>>22753118
based

What will "making it" look like in a post-financial-system-collapse 1st world country?

>>22756493
Depends on if there's any indication Congress will change course and actually pass a stimulus bill before the election. But stocks haven't been hit hard enough, so probably not. So the slide could continue. The big number for gold was $1,912. Closing below that means we got some gravity.

https://www.zerohedge.com/markets/jpmorgan-pay-record-1-billion-settlement-over-precious-metals-treasury-manipulation

2/10oz for about $320USD. Isn't that below spot?

>>22755645
>>22755758
This is the Jeff Snider take
>Primary Dealer creates the cash to buy the bond
>Ledger balance created in the gov account at the PD Bank
>PDs follow warehouse accounting rules
https://youtu.be/B4xcCO9v-Os?t=490

Perhaps a deep dive into warehouse accounting is in order.

>>22756726
How does this not result in immediate federal law enforcement raids and mass arrests of JPM executives?

>>22756726

>>22752044
I dunno I've never sold before.

What physical are y'all buying now?

Any good deals?

23 dollar meme line broken. TA is officially shit.

>>22755645
>>22755937
>Bank reserves

I think they are being used mostly for Inter-Bank Settlement.

Parts 3 & 4 of this british series is a good red pill on the function of bank reserves.

https://positivemoney.org/how-money-works/banking-101-video-course/

>>22756752
It says UNIT price

>>22756726
Wow - it's 'over'
They were on their best behavior while the investigation was ongoing, as soon as the settlement was getting hammered out by the top (as I imagine final details this past week) I'm sure they told their traders to resume
Too late now / they're not going to open another investigation after receiving $1 billion settlement, especially not with everything that is going on

They are going to drive the price down as hard as they can (they gotta make back that billion! hey that was bailout money, we need it!)
and then maybe, just maybe, exit their short & go long after accumulating even more reserves..

This is going to take months.. but reality will eventually kick in..
Enjoy the discount silver for the next few months.. the silver manipulation is back on..

>>22756775
Thanks anon. I'll check that in a bit. Is he talking specifically about QE or just regular treasury auctions?

>>22755328
no Silver Queen is a property in BCs coast mountain range near the past producing Huckleberry copper mine. Its owned by a bunch of con men.

>tfw i almost bought a shitload of junk silver yesterday but the bullion guy wasn't there
>literally saved me money by not being reliable
Thank you Mr. Ma

>>22756903
Craig Hemke is a fucking hack

>>22756999
and I am financially ruined for going into physical metals listening to metalbros

>>22756612
Yes, and buy it when it goes lower.

>>22756726
Shouldn't the party committing the fraud be liable to compensate the frauded?

>>22755378
Because I’m a fucking idiot

>>22756726
Everyone needs to read this article immediately
JP Morgan is now back to manipulating the market, it's the true reason for this mega dump

>>22756958
If you rewind a bit, George is trying to think through a flow chart of Open Market Ops (OMO) which are part of the QE strategy in the US. Jeff's answer was getting good then Lyn Alden threw it off on a tangent...

>>22757063
Bro. You are dumb to think so short term.

>>22757063
Tell us what you bought and when. A year from now you'll look back and laugh

>>22756612
I bought some the other day. No ragrets. If it falls further, I'll buy even more.

>>22757280
I bought physicals at $32.60/oz. About 3000 oz about a month ago. Screencap this when I rope myself.

I just want silver to moon already so I can sell most of it and buy gold on the cheap

>>22757374
yeah, this is a bad plan desu

>>22757359
If you didn't buy with leverage, you will be fine long term. You just miss out on opportunity cost.

>>22757359
Dont be a pussy. Have you tried waiting more than 1 month? This shits gonna take a little bit.

I member when everyone was hoping for a pull back

Glad I was buying mostly meme rounds which are not really affected too much by spot, still, spent most of my powder.

Not like it would matter though, stonks are down, everythings fucking down.

Also not only did you all have 6000 years but you also had a long while of ~$21-23 silver right after the crash for a solid 2-3 months, if you weren't also buying then then idk what to tell you

>>22757069
nah...as long as lawyers walked off with millions everything is cool

>>22757359
were you the guy that bought like 240 5oz coins? all you have to do is, wait

>>22757436
>idk what to tell you
Time to buy again?

U.K. anons can you recommend a silver bar? Where from?

>>22757359
relax if you have enough cash to buy 3k ounces at 32.60$ you will not need to rope yourself. Just HODL LOL i wish i could buy Silver for 32.60$ here Silver costs still about 37 Swissfrancs thats about 39$ even after the dip.

>>22751035
The fuck you bought that?
Design is brutal.

>>22757359
Just hold. There were guys who bought big in February just to see it plummet in March. And guess what? They broke even later in the spring and made money in the summer.

>>22757436
But anon, I did buy then.

My stack barely elevates me a foot off the ground when I sit upon it, this wont do.

What's a good buy price for silver during this dip?

I'm hoping for $17-18

>>22757663
Gradual buying anon. If you fail to pick up some durring the dip, then you might miss the bottom

N E W ?

>>22757490
Almost, I could honestly see the dip going as low as $21, I'll give it another day or 2 before I buy

>>22757663
just wait for it to go negative, then they will pay you for taking their silver.

>>22757780
Perfect

There are no rounding bottoms, we diving boys. Retract periscope

Got confirmation that my queen beast preorder was shipped. Anyone else?

baking

new bread
>>22757939
>>22757939
>>22757939
>>22757939
>>22757939
>>22757939

>>22757699
Eh waiting can make you miss the bottom too.
This game is hard.

>>22757448
I was that cryptofag anon. That transaction failed at the US Mint with the ATB so I FOMO and went to apmex with some vaseline hoping that I would make it with you guys.

>>22756726
Can someone explain this to a brainlet. Why does JPM want to manipulate the price of silver down? Wouldn't they want it to be high so be manipulating it higher?

>>22758071
So they can accumulate the entire world supply basically.