nvw
Full Member
Posts: 105
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Post by nvw on Feb 9, 2021 18:51:18 GMT -6
And they vote
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Post by kenmb on Feb 10, 2021 10:40:05 GMT -6
Mark Dice has a number of videos following that theme. Offering gold coins, or 10 Oz silver bars, etc.
Just an interesting commentary on life as a whole. How much we have been programmed to think a certain way. All set up for a digital currency.
Platinum is certainly interesting this week if one can look past cryptos. I was looking at a few platinum miner stocks on the weekend now that I have my direct investing TFSA set up but I made a decision to not buy anything metals related till I see what happens with China new year shutdown starting tomorrow.
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Post by Oatking on Feb 14, 2021 9:56:51 GMT -6
Btc approaching 50 000! That is a 20% increase since this thread began a month ago. What do you guys think of pool btc mining? I dont get the the term solving the hashs in the block chain. Also dont get the whole idea of the block chains. How much can you make if you belong to one of these pools and how much power do you need. Do you need phase 1 or phase 3 power.
maybe the 100 000 value is possible by year end. Some banks like this already because they say it is an emotionless money value. If this all fell apart, gold and silver would sky rocket.
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Bitcoins
Feb 14, 2021 14:24:49 GMT -6
via mobile
Post by shmiffy on Feb 14, 2021 14:24:49 GMT -6
Brother in law works for Baytex. He said their supposed to be getting more miners right away. The miner is just a small sea can with a Genest on one side then the electrical on the other. He figured 25000 for one. They use I got excess gas off light oil wells.
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Post by kenmb on Feb 15, 2021 8:39:49 GMT -6
Talk about a mis allocation of capital with mining units, and load on electrical grid. Wonder what happens when btc ever goes into a month long down trend. Naturally we would need to hear less bullish news for some time. JPMorgan saying they might need to get into cryptos. Yes, the thing that will destroy you is what you will pump up. And the SEC help, along with the IRS saying it is fine to transact in btc. Skies the limit in wacky-world. I don't keep in touch with what's going on at work these days with covid in play. I would sometimes stop in for a beer when in city but with covid and upper management presenting themselves as "good corporate citizens" I stay away. But at Christmas I was at the shop and salesman was saying head office was quoting on a number of btc mining packages and had been getting a number of requests. It's noteworthy when a small shop in Saskatchewan (the barren wasteland of the world for electrical stuff) gets requests like this. I didn't get any details other than $50,000 per unit on one proposal so fairly significant. Multiple units being sought in that proposal. Interesting to note platinum is up 30% now too. And don't see why it can't trade at a long time value of +50% over gold. Not just a short term spike to $1500 and back down to $1000. 10:1 ratio of gold to platinum in the ground. If I was to speculate on how wacky-world really works - meaning we are told many things that are far from the truth (like JPM going into crypto because, well, just because), it could be cryptos and particularly btc futures trading is a way to draw more attention and investment away from metals. It seems btc and metals are essentially at odds with one another. Funds flow from one to the other based on market dynamics. Coincidentally established by futures trading, I can see btc going higher yet. I just can't see when the time will be to get out. I would have been selling at $10k, $20k, and by $40k would have been all out except the last 10%. It seems the jig is up regarding silver. The story is there was about 4500 tons left in vaults a week ago and so that is gone now and fully "allocated". Meaning it doesn't actually move, just a piece of paper says someone's name is on it. But nothing is audited to say how many other names are on it. And silver is still being sold as if you can obtain whatever quantity you want. Because paper is in infinite supply. News on the weekend was saying the SLV ETF can't get anymore physical silver. Their prospectus says their shares are backed by physical silver. So, if they can't get more silver, they shouldn't sell anymore shares. But that won't matter. They will sell more, and the price won't change. Used to be supply and demand set price. Not anymore. The emperor has no clothes. All that is left to to see how exactly this farce plays out. But, when all the news is fake, trying to make any decision or post means one has to take some part as real. That is the absurdity of it all - we have no idea what is real because our whole system is such a farce. And so btc to $100,000 is entirely possible.
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Post by kenmb on Feb 15, 2021 12:33:34 GMT -6
Here is one of the articles. It's why I watch the precious metals, not diligently by any means, but just to watch what unfolds as time goes on. So we hit another milestone in this $hitshow of "fair and free markets" if all the silver available is now gone. Because what happens with silver is a reflection on anything that trades in futures, so grain too is subject to the same scam. In my opinion, the system that exists now is complete absurdity. And that means anything is possible going forward. There could be negative 50,000 tons of silver available and futures will still trade as if an infinite supply exists and price of silver will be valued at 30% over production cost because the paper market says so. The counter viewpoint is maybe it all blows up and we get something that resembles sanity. Perhaps the silver squeeze is real. Don't know. But would say we are near a point of seeing if something changes. As always - ZH article has comments section running so various opinions available there www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-available-silver |
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Post by SWMan on Feb 15, 2021 13:12:13 GMT -6
So still a good time to load up on physical silver? I see SGB at $40+ per ounce which is a premium to the futures, but it shows available and will ship this month. Gatewest coin has coins and bars but need to call for a price there. Might be a good hedge against inflation at the very least...
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Post by Oatking on Feb 15, 2021 15:40:13 GMT -6
Hey guys i dont get this premium you talk about in buying physical silver bars. I bought 100 oz silver bars off the U.S futures market thru Scotia Bank in Winnipeg. Only premiums i paid was the extra cost of the U.S dollar as silver is priced in US and a small service processing fee and of course i had to pay for an armoured truck to deliver the silver from downtown winnipeg to my branch. How are you guys buying and storing the silver . My problem is its very bulky and needs protection against climate. I dont mind paying storage at my discretion as I view it as the cost of business, just like storing 11-52 fertilizer. Metals have stood the test of time and like Warren Buffet says, be fearful when most people are acting bullish on risky investments and act bullish in a time of term oil.
He makes it sound so simple eh!
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Bitcoins
Feb 15, 2021 17:56:22 GMT -6
via mobile
Post by cptusa on Feb 15, 2021 17:56:22 GMT -6
Self store. I've got some eagles stored in Wilmington, DE that I converted from an IRA. Had to buy eagles and store them to qualify tax free, I usually don't do eagles due to the premium.
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Post by SWMan on Feb 15, 2021 21:19:18 GMT -6
Hey guys i dont get this premium you talk about in buying physical silver bars. I bought 100 oz silver bars off the U.S futures market thru Scotia Bank in Winnipeg. Only premiums i paid was the extra cost of the U.S dollar as silver is priced in US and a small service processing fee and of course i had to pay for an armoured truck to deliver the silver from downtown winnipeg to my branch. How are you guys buying and storing the silver . My problem is its very bulky and needs protection against climate. I dont mind paying storage at my discretion as I view it as the cost of business, just like storing 11-52 fertilizer. Metals have stood the test of time and like Warren Buffet says, be fearful when most people are acting bullish on risky investments and act bullish in a time of term oil. He makes it sound so simple eh! Do you need an account at BNS to buy from them? Normally SGB doesn't have much of a premium, but maybe because of demand/market conditions they are playing it safe. I know when someone calls to buy my grain right now I have a premium on it. I don't feel looking at the charts that gold and silver are risky yet, especially when it is a physical asset. Bitcoin, well.....maybe it qualifies.  |
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Post by Oatking on Feb 15, 2021 22:46:54 GMT -6
Do you need an account at BNS to buy from them? Normally SGB doesn't have much of a premium, but maybe because of demand/market conditions they are playing it safe. I know when someone calls to buy my grain right now I have a premium on it.
Yep you need an account. I just use it for that purpose.
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Post by kenmb on Feb 17, 2021 13:30:21 GMT -6
Is it a good time to buy? That question is always asked. I would say for bitcoin, it can still go higher. As for silver, it's the same question for 5 years now.
At this moment, if you get 5 x 100 Oz silver bars off Silver Gold Bull, you are at $4060 each and spot is $34.70/oz. So, as Oatking says, there are some transaction fees and delivery charges to take possession that adds to the price over spot.
The interesting thing is the word "premium", otherwise known as gouging. And this is the entire concept of paper vs real. The paper price says $34.70, but the buyers will pay more, and the retailers understand this because they know how much the demand is and also if there are supply issues. Perhaps there are no supply issues. But regardless, the premium is an example of supply <> demand principles. Something that paper futures trading is totally incapable of representing, and yet it is the determining factor for price. And anything above is therefore a premium, or gouging. A truly bizarre world, yet the basis for how we do things.
The precious metals have been taken down across the board this week. Never saw too much movement on Thur-Friday, but it is being made up for now. Interesting that it is all precious metals showing the same chart action. Even though these "commodities" serve such vastly different industrial sectors. Hard to believe people still call it all normal market activity.
So I suspect by later next week we will see if now was a good time to buy. Are we seeing another attack on metals, or natural market forces taking down the prices. If it is manipulation, then it is a guess as to when or if ever is a good time to buy. Because knowing that answer means you know what the manipulators will be doing.
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Post by kenmb on Feb 18, 2021 12:56:38 GMT -6
Don't know how close guys pay attention so I will mention it.
March is a delivery month for silver futures. Starts on Wednesday.
So you can let your imagination run wild. Because I doubt anyone will be able to say what will happen using knowledge of free markets, supply and demand, as well as economic factors
Maybe nothing will be noticeable for the month of March. Wild speculation could draw parallels to oil delivery month last year. It's possible the paper price can still be subdued for the next few days to enable shorts to cover their positions. This would be consistent with knowing what the manipulators are doing if it is a rigged system. If price moves up in early March, and a guy believes insiders got out with foreknowledge, then there could be some bagholders just like with oil come end of march.
Just have to wait and see. Price hasn't changed much today so maybe worth watching a few more days with intent to buy next week depending on what happens, if price stays low next week, then hold off more.
In regards to holding off, I did that for a platinum miner sbsw and it cost me more each day I held off till I finally bit. Today I finally bit on a rare earth miner tmrc, was watching it for about 10 days now and it moved up 25% over that time. So holding off isn't working well for me, but given that silver has the awesomeness of futures trading, there is reason to believe it may be suppressed a few more days. Wouldn't mind picking up a little more so think I will see what next week brings.
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Post by Oatking on Feb 18, 2021 17:36:49 GMT -6
Do you really believe paper silver exceeds physical silver in quantity. At the start of the 1929 depression many people wanted money from the banks, but the only problem was the banks didnt have the money to give out to all seekers.
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Post by cptusa on Feb 18, 2021 18:44:27 GMT -6
There's no doubt in my mind paper silver exceeds physical. Think about the grain markets and look at volume of trade, it exceeds the actual commodity. Metals are no different.
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