Silver Is On A Tear Today

I don't care what doom or gloom you say GoldFinger.... I am going to enjoy the ride while it lasts... rolling the dice..

 

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That's a good question. I know in my area nobody has any interest in it since the refineries are backed up for weeks with .999

 

Well as soon as I can find 2 plain Boxes one smaller than the other I am cashing out! I was gonna at $50.00 so why not take 95.00 and be done with the chest Pains?

 

Its different from 1979 to 2026.
Today we are in a completely different World. The whole World Order is in chaos, in 79 you had Russia invading Afghanistan, Khomeini Regime installed in Iran via revolution, Carter would loose election to Reagan in landslide, In China, the failed Cultural Revolution had ended, with death of Mao, tens of millions perished. Today, we tin pot Dictators in Russia, N. Korea, Iran, China, overspending by most Govts, people are loosing trust in plastic, paper, BITCOIN, wisely turning to real money "precious metals"
Look at Russia, economy is tanking, what does Putin do? He sells off his gold, platinum reserves, since no one will take Roubles. Today we have no "Hunt Bros", its basically most smart people have lost faith in FIAT currencies. Remember Zimbabwe/ Weimar Germany?
Real $$$ was invented in 670BC, now we are returning to it.

 

Yep. Sold a couple dozen ASEs and some 90% coins. Walked out with a nice pile of cash. Deposited most of it and spent a small amount on a nice handful of world silver crowns for about half silver value from a local metals buyer that sells some numi stuff.

 

Dang, I quoted someone $2 a gram
Looks like $3 is full bore today.
My friend that does sterling silver jewelry could have said No when I sold him 2000 grams 6 months ago for $1 a gram

 

Oh, man, if I could find someone like that I would be buying right now. (OK, not right now, the sleet just started falling here, but you get the idea.)

I'm reminded of the show I attended during the 2011 spike when I bought a small bag of SLQs for 25x from one dealer, picked through them, and sold the rest to a dealer at another table for 26x...

 

Yep the prices in the photos are what I paid.

Plus it’s only sub 10F here in southern Great Lakes region. Way better than sleet/snow.

 

Love those Peru 1 sols.

 

Here its -27 and windy. Too cold even to take my Rottie for his 10K walk. I think I am a wimp!

 

I would love to sell a lot of silver but don't wish to pay the income taxes. I would never cheat but wish there was a legal way around it.
It would be cool if the tax laws would allow it if you bought a car or maybe a down payment on a house.

As of now my plan is to leave it to my son. He can sell it and not have to pay any taxes.

 

Or, you know, reflect the objective reality of inflation when calculating capital gains.

 

same for me Lake Ontario regain 10 high and 6 now.

 

Let's see the reverses. The Peru Crowns, especially, should have a nice Seated Liberty on them.

 

I think that bill's intent was both broader and narrower, just like the similar bill that passed here in NC some years back.

Specifically, while it applies to bullion items "which are valued primarily based on their metal content and not their form" - ruling out, for example, jewelry or (presumably) collectible art bars - it includes all PM coins minted and issued by the Mint, irregardless of any numismatic premium. So if you bought a bunch of 2025-S cents and flipped them at current ridiculous prices, you'd owe nothing. I think that's a bit silly.

I'm calling for a general adjustment of all capital gains according to inflation. If the price of something I bought years ago has doubled simply because the value of the dollar has halved, it's fundamentally unfair to consider 50% of the price as "capital gains".

 

I watched a video today where CEO of Scottsdale said refinery they deal with is backed up with .999 for the next three months.

I looked it up and found there are 24 commercial sized refineries in the US. I have no idea what their capacities are. Says the silver is getting melted and all going to the comex. More is being used than mined so excess needs to come from current stock piles. Don't know how large the stock pile is either.

 

I'm not Doom & Gloom...I'm actually very long. But I don't like parabolic moves up.

Strange thing to me is no casualties from the up moves in gold and silver. VERY strange....